[SPK] Quintessence Neighborhood - Project canceled, reimbursement underway

[cyberhacker]

nice update

to put it a simple way. you are going to port EVM to a PoS code base.

that is huge.    if you really deliver it.

I think its huge but EVM is actually for phase 2 of the Quintessence Neighborhood; as we had agreed, there will be another round of ICO for phase 2.

Phase one which we are working on at this moment is about adapting PoSP to a sidechain-based blockchain software, which is also unheard of. The EVM adaptation will run as a sidechain to Phase 1's chain.

still don't really understand, but since you indicate it will come out soon. I am willing to see what you will deliver.

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[avariahb]

White paper

"This step will be the step where Crypto Bullion is converted to a full-fledged Quintessence
sidechain; a CBX hard fork is to be planned, Spark should not need one but it remains a
possibility. This step will enable the decentralized conversion tool, which will start with
current market valuations as basis for this tool. The CBX team will work with the Spark
dev team to make this step a reality - but ultimately CBX remains a separate dev team."

I have a question about this step
After we can stak CBX and SparK on the same wallet where there will always be two wallet differing.

[VonSpass]

White paper

"This step will be the step where Crypto Bullion is converted to a full-fledged Quintessence
sidechain; a CBX hard fork is to be planned, Spark should not need one but it remains a
possibility. This step will enable the decentralized conversion tool, which will start with
current market valuations as basis for this tool. The CBX team will work with the Spark
dev team to make this step a reality - but ultimately CBX remains a separate dev team."

I have a question about this step
After we can stak CBX and SparK on the same wallet where there will always be two wallet differing.

First step is creating the sidechain token (ongoing now) - second step was to add EVM functions to an effective sidechain of SPK.

CBX integration was to be a third step; this would all go as planned in the white paper if the ICO had gone as planned, and we had proper funding.

1) the ICO did not go as planned,

2) we have decided (as per your suggestions) to make a smaller amount of SPK but with a higher staking reward rate, so with the new current parameters of SPK if we integrate CBX while SPK pays much more all CBX would simply get converted to SPK because the interest of SPK's staking will be much higher than that of CBX. CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

3) CBX has the threat of 124000 CBX being dumped on the market looming, because of the Cryptsy fiasco - until this is resolved there is no way we can integrate CBX.


For these reasons, as we stand now, I doubt there can be a CBX integration to SPK; although this could be envisioned in the future, especially when point number 3) is resolved.

[avariahb]

Thank you for this clarification
I look forward to the end of the year.
2017 can only be better for CBX and SparK.

[cryptobullion.io]

CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

I am unclear on the parameters of SPK but curious if in fact CBX will pay less or is it really a wash when you factor inflation? 10% reward with 10% inflation is essentially equivalent to 2% reward with 2% inflation. Not sure what I am overlooking here...

[Caladonian]

Thank you for this clarification
I look forward to the end of the year.
2017 can only be better for CBX and SparK.

Hopefully we will see some good things that will happen to this project spk expected to create his value this coming 2017 and if the project succeed cbx will be carry together with the value of investment.

[m33]

White paper

"This step will be the step where Crypto Bullion is converted to a full-fledged Quintessence
sidechain; a CBX hard fork is to be planned, Spark should not need one but it remains a
possibility. This step will enable the decentralized conversion tool, which will start with
current market valuations as basis for this tool. The CBX team will work with the Spark
dev team to make this step a reality - but ultimately CBX remains a separate dev team."

I have a question about this step
After we can stak CBX and SparK on the same wallet where there will always be two wallet differing.

First step is creating the sidechain token (ongoing now) - second step was to add EVM functions to an effective sidechain of SPK.

CBX integration was to be a third step; this would all go as planned in the white paper if the ICO had gone as planned, and we had proper funding.

1) the ICO did not go as planned,

2) we have decided (as per your suggestions) to make a smaller amount of SPK but with a higher staking reward rate, so with the new current parameters of SPK if we integrate CBX while SPK pays much more all CBX would simply get converted to SPK because the interest of SPK's staking will be much higher than that of CBX. CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

3) CBX has the threat of 124000 CBX being dumped on the market looming, because of the Cryptsy fiasco - until this is resolved there is no way we can integrate CBX.


For these reasons, as we stand now, I doubt there can be a CBX integration to SPK; although this could be envisioned in the future, especially when point number 3) is resolved.

Number 3 , simply make vote on it to burn or not to burn , god knows when that will be solve , it's already lost

[malafaya]

CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

I am unclear on the parameters of SPK but curious if in fact CBX will pay less or is it really a wash when you factor inflation? 10% reward with 10% inflation is essentially equivalent to 2% reward with 2% inflation. Not sure what I am overlooking here...

I was thinking exactly the same. I believe one should expect CBX to progressively increase its valuation in SPK terms if you look solely at its lower inflation offsetting any difference in percentual gains. But of course there are also other factors envolved (popularity, technology, versatility...).

[Dabs]

Does Cryptsy have it all? or is it somewhere else? It may have already been dumped back then.

[szafa]

Reading all post to get some  free coins before christmas.

[VonSpass]

CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

I am unclear on the parameters of SPK but curious if in fact CBX will pay less or is it really a wash when you factor inflation? 10% reward with 10% inflation is essentially equivalent to 2% reward with 2% inflation. Not sure what I am overlooking here...

The inflation is a result of the rewards, but with PoSP your personal reward rate (interest) is always higher than global inflation rate, for those who choose to participate.

SPK tokens will benefit from PoSP, therefore a 10% global inflation will mean much higher personal returns (15% - 25%ish) only in the first year - depending how many people participate in the network. At that rate, I anticipate that the network participation rate will be high, with fewer SPK left inactive sleeping at exchanges.

[cryptobullion.io]

CBX was to be the high income counterpart of SPK - as of now SPK will give 10% in staking rewards while CBX pays only 2%, therefore CBX cannot be the high-reward counterpart, as it pays less.

I am unclear on the parameters of SPK but curious if in fact CBX will pay less or is it really a wash when you factor inflation? 10% reward with 10% inflation is essentially equivalent to 2% reward with 2% inflation. Not sure what I am overlooking here...

The inflation is a result of the rewards, but with PoSP your personal reward rate (interest) is always higher than global inflation rate, for those who choose to participate.

SPK tokens will benefit from PoSP, therefore a 10% global inflation will mean much higher personal returns (15% - 25%ish) only in the first year - depending how many people participate in the network. At that rate, I anticipate that the network participation rate will be high, with fewer SPK left inactive sleeping at exchanges.

I agree with this logic. That having been agreed, would not following this line of thought further result in the conclusion that CBX would have a very attractive potential to be a lower inflationary storage of wealth that could also provide potentially higher PoSP rewards than SPK itself (reward vs inflation) resultant of the rush of all SPK holders to capitalize on the high initial interest rate - thereby reducing the 15-25% projected through PoSP? Sounds to me like this would be a very compelling sales point to attracting a wider range of investors to the Quintessence network. Investors like to have opportunities to manage their portfolios to outperform the status quo, why not include such an option as initially intended? Just a suggestion for consideration.

[doktor1897]

whether there was recent notification about spk? we are all waiting for an update

[endlessskill]

Countdown for launch please.

[Golftech]

Its been so quite here we all waiting for some update regarding to this project as we see more and more coins has been develop from time to time im interested to see how spk will help cbx investment to be more profitable for a long term holdings.

[m33]

White paper

"This step will be the step where Crypto Bullion is converted to a full-fledged Quintessence
sidechain; a CBX hard fork is to be planned, Spark should not need one but it remains a
possibility. This step will enable the decentralized conversion tool, which will start with
current market valuations as basis for this tool. The CBX team will work with the Spark
dev team to make this step a reality - but ultimately CBX remains a separate dev team."

I have a question about this step
After we can stak CBX and SparK on the same wallet where there will always be two wallet differing.

First step is creating the sidechain token (ongoing now) - second step was to add EVM functions to an effective sidechain of SPK.

What is EVM ?

[roncar]

Is there any update to when will be the release of the project?

[Avirunes]

It is to alert you that VonSpass is alt of Gildarts. Please stay out of this scam project

Proof:

1) https://bitcointalk.org/index.php?topic=1702409.msg17261700#msg17261700

[ctenc001]

It is to alert you that VonSpass is alt of Gildarts. Please stay out of this scam project

Proof:

1) https://bitcointalk.org/index.php?topic=1702409.msg17261700#msg17261700

All I see listed are suspicions? No proof. I can say I've dealt with VonPass on multiple occasions and with me he's been as straight shooter every step of the way.
Also having alt accounts in and of itself is not a scam or bad in any way. Devs often do it so that they can comment and work on other projects without drawing attention or questions of motives.

[Avirunes]

It is to alert you that VonSpass is alt of Gildarts. Please stay out of this scam project

Proof:

1) https://bitcointalk.org/index.php?topic=1702409.msg17261700#msg17261700

All I see listed are suspicions? No proof. I can say I've dealt with VonPass on multiple occasions and with me he's been as straight shooter every step of the way.
Also having alt accounts in and of itself is not a scam or bad in any way. Devs often do it so that they can comment and work on other projects without drawing attention or questions of motives.

Concrete proofs. Just same user again. Just an advice that don't trust someone on the basis of his past successfully trades. Always take  necessary steps to avoid being scammed.

So having connection(alt) with a known scammer doesn't drives you suspicious huh ?

Anyway he/she is free to counter it.


It's up to you to take my advice or let my warning go judging him trusty with his past successful trades. My objective was just to warn guys here and so I did as I felt.

Thank you