Historic Cryptogenic Bullion thread - CLOSED

[mishax1]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..         

[Lauda]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..        

What buddies? Everyone that uses these and other forums frequently could have mined a portion of them.
You can always buy some if you prefer that.
I bought some at a price that was 4 times higher than the current one, and yet I'm not complaining.

[mercSuey]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..         

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

[bholzer]

I didn't even visit the forums and notice the CGB announcement until (early) day 3...and I've only been mining CGB casually since (most of my hash power goes into LTC and the rest, 6 GPUs, has been split between CGB and MΣC over the past ~4 weeks) -- I've managed accumulate about 4000 CGB. Wish I would have started mining right away...but that's my own fault and I'm happy with the share I've mined thus far. My only regret is that I didn't pull another box off LTC to put on CGB from the start (I finally did it today.)

[mishax1]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..         

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins. 

[elambert]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..        

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins.  

I am not sure what your issue is regarding mining difficulty as it is not something that gives preferential treatment. Any and all who mine do so at the same difficulty. Let me explain. If miners 1-10 are all mining the same coin, they will be mining at the same difficulty, whether they are friends or not. As a matter of fact, the currency being mined does not know if the miners are friendly with each other or enemies - so this is not a factor at all. With CB, if an 11th miner jumps in the difficulty will quickly adjust making it more difficult for all miners (1-11). This is a simple breakdown as differing hashrate is not addressed in this example, but this should help to paint the picture. Hope this is helpful.

Edit: I am by no means an expert regarding mining, actually I do not mine, but I do understand the concept. I have been dedicating my time and efforts to support CB since launch and have bought every one I own on the free market. I have no issue with those who mined the CB that I have bought and decided to sell it to recoup their overhead mining costs and I am not sure why you do either. All of this being said, this is a free market and you are entitled to support whichever crypto you see fit or none at all if that is your thing. Anyway, thank you for your contribution.

[Killiz]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..         

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins. 

How about you cut the bullshit.

CGB was launched fairly and openly. It is anyone's own fault that they didn't pay more attention, and mine it more in the beginning.

Merc, was only giving an example, you should read more before you make a decision on what you do and say around here!

At the time of launch your interests were on GLD, and then you have spent the last month on DGC. All the info was there for you on CGB, but you chose to overlook it.
You are sore that you have spent your time on something that has gained little value recently, although I'm not bashing these coins, they have large support, and could do well in the future.

So don't come into the thread and start bawling and crying over your own mistakes, cos nobody gives a shit about that except yourself.

[mishax1]

Yes I was mining LTC, DGC, GLD(for a few days, what a fucking mistake), ANC.. 
but that has nothing to do to the fact that 50% of CGB coins were mined at low hash power = few people..

I rest my case. Got nothing to add.  goodbye CGB.

[elambert]

Yes I was mining LTC, DGC, GLD(for a few days, what a fucking mistake), ANC.. 
but that has nothing to do to the fact that 50% of CGB coins were mined at low hash power = few people..

I rest my case. Got nothing to add.  goodbye CGB.

You will be missed 

Best of luck to you in your future decisions.

[mercSuey]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..        

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins.  

No, seriously.  You need to cut the bullshit.  Here is the link to block 40,000, which had a difficulty of 1.21:   http://cgb.webboise.com:2770/block/0000000022aab0d9acb2e7f76a0ce4542bdace21758d72fc6c476e179df606a7

And I checked your previous posts.  It's clear you were quite the GLD lover and now you're bitter over missing out on CB.  Stay classy...

[Lauda]

Yes I was mining LTC, DGC, GLD(for a few days, what a fucking mistake), ANC.. 
but that has nothing to do to the fact that 50% of CGB coins were mined at low hash power = few people..

I rest my case. Got nothing to add.  goodbye CGB.

Bye. You certainly won't be missed.

[Killiz]

Yes I was mining LTC, DGC, GLD(for a few days, what a fucking mistake), ANC..  
but that has nothing to do to the fact that 50% of CGB coins were mined at low hash power = few people..

I rest my case. Got nothing to add.  goodbye CGB.

These people had the same opportunity as everyone else to mine CGB. They are the ones who gave it life, while others looked away.

Yes you are right, you have nothing to add.

[mishax1]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..        

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins.  

No, seriously.  You need to cut the bullshit.  Here is the link to block 40,000, which had a difficulty of 1.21:   http://cgb.webboise.com:2770/block/0000000022aab0d9acb2e7f76a0ce4542bdace21758d72fc6c476e179df606a7

And I checked your previous posts.  It's clear you were quite the GLD lover and now you're bitter over missing out on CB.  Stay classy...

I'm sorry, my bad. let me correct myself.

UP to block 38,435 the difficulty was UNDER 1.0  - http://cgb.webboise.com:2770/chain/CryptogenicBullion?hi=38435&count=2016

Means that in about 3 weeks time you mined 384,350 CGB coins which are ~ 53% of the coins right now and about 38% of the total amount of coins ever..

yet still most of them were mined when difficulty was under 0.5 = only a few miners..

Good night.

[Killiz]

So let me understand this...

It took you and your buddies about 1 month to mine 50% of the coins..  great!

It's good to know that a handful of people possess that many coins..        

The difficulty algo is a linear, 2 block adjustment algorithm.  That means if you throw high hashrate at it then the difficulty adjusts damn near instantly (relatively).  From the moment it was released, CB was definitely one of the hardest to mine to own a large percentage of total market cap.  For example, if diff was at 0.22 and a 100mh GPU farm started mining CB, the difficulty would have adjusted to 3 (or whatever) in a matter of minutes.  So, no, a handful of people didn't mine CB and ended up with 50% of the total coins.  Its release was very public and very fair.  And the dev team works very hard at monitoring network integrity and spreading the word of CB as well as the digital currency industry as a whole.  Cheers!

-Merc

Cut the bullshit, CGB block explorer indicates that the first 40,000 blocks didn't even pass difficulty of 1.0 (!) and most of them were under 0.5.
Which means that the network hashrate was low, I'm guessing around 10-70MHs.
Those 10-70MHS mined almost 50% of the coins.  

No, seriously.  You need to cut the bullshit.  Here is the link to block 40,000, which had a difficulty of 1.21:   http://cgb.webboise.com:2770/block/0000000022aab0d9acb2e7f76a0ce4542bdace21758d72fc6c476e179df606a7

And I checked your previous posts.  It's clear you were quite the GLD lover and now you're bitter over missing out on CB.  Stay classy...

I'm sorry, my bad. let me correct myself.

UP to block 38,435 the difficulty was UNDER 1.0  - http://cgb.webboise.com:2770/chain/CryptogenicBullion?hi=38435&count=2016

Means that in about 3 weeks time you mined 384,350 CGB coins which are ~ 53% of the coins right now and about 38% of the total amount of coins ever..

yet still most of them were mined when difficulty was under 0.5 = only a few miners..

Good night.

Maybe a few wise miners, who saw something in CB, while shitcoins were flying here, there, and everywhere.
Like I said, the opportunity was there for all, it's not anyone's fault but their own if they feel they have missed out on the higher reward.The info on the reward system was there, for all to see when CB was released.

I haven't mined a single block, I have bought all I hold, and I came quite late to the party. They are still going cheap, don't miss a second opportunity.

Goodnight, good luck and sweet dreams

[miffman]

not too long till subsidy halves again!

[elambert]

not too long till subsidy halves again!

Subsidy just halved! Looks good. Mining profitability halved as well so this leaves room for price increase before activation of the large pools that move between currencies finding the most profitable one to mine and dump.

[Lauda]

Yeah finally it has halved. Time for the price to go up!

[miffman]

In ~2 months time, block reward will be below 1 CGB! 

[Lauda]

In ~2 months time, block reward will be below 1 CGB! 

Time to buy up 1% of the coin 

[miffman]

In ~2 months time, block reward will be below 1 CGB!  

Time to buy up 1% of the coin  

once 1 000 000 CGB has been released, I own 0.1% of the entire market cap   I feel so boss lol

EDIT: price is already climbing!