Historic Cryptogenic Bullion thread - CLOSED

[qgmurugan007]

Sorry about the newbie question.

That means only around 62,000 coins are left to mine (takes around 9 months with the current rate) and what happens when thats done?
How will be the interest paid once the mining is finished?

Thanks.

[elambert]

Sorry about the newbie question.

That means only around 62,000 coins are left to mine (takes around 9 months with the current rate) and what happens when thats done?
How will be the interest paid once the mining is finished?

Thanks.

The mining you are thinking of is via PoW with which the subsidy payment (block reward) will continue halving every 50k blocks until a baseline of .01 CGB per block is hit where it will remain forever. About .5% yearly inflation.

The PoS interest is another form of mining which pays based on holding CGB in your wallet for longer than 30 days (also helps secure the network). This mining will continue at a rate of 1.2-1.5% interest per year.

Essentially the maximum inflation per year for CGB once the baseline PoW subsidy is hit is about 2% (1.5% PoS, .5% PoW).

Hope this helps to clarify.

[qgmurugan007]

The mining you are thinking of is via PoW with which the subsidy payment (block reward) will continue halving until a baseline of .01 CGB per block is hit. This rate will continue forever for about .5% yearly inflation.

The PoS interest is another form of mining which pays based on holding CGB in your wallet for longer than 30 days. This mining will continue at a rate of 1.2-1.5% interest per year.

Essentially the maximum inflation per year for CGB once the baseline PoW subsidy is hit is about 2% (1.5% PoS, .5% PoW).

Hope this helps to clarify.

Yes it does.
Thanks for the clarification.

[elambert]

No prob 

[sixteendigits]

I hated CGB for a long time, thought it was just a stupid gimmick coin that was gonna die and go into a deflationary spiral as soon as it was all mined.  I am glad to see a small amount of inflation has been added mainly through PoS.  I know inflation can be a bit of a dirty word in the crypto world, but a small amount to secure the block chain and ensure a steady stream of CGB continues to trickle into the market to keep it usable as a real world currency is a-okay in my book.  I am a believer now, gonna buy up a few thousand while the price is low.  Keep up the good work and hope CGB can get into china soon!

[Percy520]

After doing some research, I do believe this coin is much undervalued. There are only 1m of this coin but the current price is only $1. I don't understand what causing this coin to be so much undervalued? Anyone know? Any I can see this coin will move up a few x in the near future. So I just bought 1k and may buy some more later on if anyone could answer my question.

Hard to tell my friend. For whatever reason, CGB has been ignored by a number of exchanges thus far (despite a long stint as a top 10 market cap coin with top 10 volume) limiting CGB's exposure. The frenzied wave of clone war coins have essentially pushed CGB out of the limelight.

We continue to work on development, pushing the envelope and maintaining blockchain stability. CGB will rise again, far too much going on for it not to IMHO.

Why CGB not listed on Bter? I am sure it could rise a lot more if it can attract more Chinese investor's attention.
I am a Chinese investor so I will try my best to promote this coin in the Chinese community.

Thank you Percy! China has been a target for CGB for some time now, one of our first website translations was to Chinese to facilitate this. Obviously we have yet to break through so Chinese community support is critical and helpful. Are you in China? I am curious to get clarity on what the Chinese New Year crypto ban actually means as this is very unclear to me and others I am sure.

BTW, we have reached out to Bter and BTC38 numerous times to no avail, FYI.

Not, I am actually living in New Zealand but I do visit lots of Chinese forums. The Chinese New Year crypto ban is more a rumor than anything at the moment. But recently there are a few chinese tv reports about bitcoin, which all overstate the negative side of bitcoin. So people believe this is also the view of the Chinese authorities. That is why people worry about there could be more polices to come to limit the development of bitcoin in china.

[Phantomic]

For the POS to work do we need to keep coins stationary in our wallet for 30 days, or can we add/remove coins from our wallet in the 30 day period?

[Percy520]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

[Pitchblackroom]

Hi, whenever I try to load up a wallet after syncing it for a while, it just simply won't load and it will just get stuck at the logo before the wallet GUI loads up. Is this happening to other people? Also is there problems with people's wallets syncing with the network?

[miffman]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

If I remember correctly there was a 0.94% premine, and all of it plus more was given away, with a transparency ledger in place

[Percy520]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

If I remember correctly there was a 0.94% premine, and all of it plus more was given away, with a transparency ledger in place

I also got this number from other thread but just would like to get the confirmation from the developer.

[elambert]

I hated CGB for a long time, thought it was just a stupid gimmick coin that was gonna die and go into a deflationary spiral as soon as it was all mined.  I am glad to see a small amount of inflation has been added mainly through PoS.  I know inflation can be a bit of a dirty word in the crypto world, but a small amount to secure the block chain and ensure a steady stream of CGB continues to trickle into the market to keep it usable as a real world currency is a-okay in my book.  I am a believer now, gonna buy up a few thousand while the price is low.  Keep up the good work and hope CGB can get into china soon!

Welcome sixteendigits!

[elambert]

For the POS to work do we need to keep coins stationary in our wallet for 30 days, or can we add/remove coins from our wallet in the 30 day period?

The funds must remain stationary for at least 30 days. By unlocking your wallet (necessary for minting PoS stake reward/interest) every 30 days, you will earn interest of 1.2% annually on your holdings. If you unlock your wallet every 90 days, you will earn 1.5% annually on your holdings. So it is recommended to take the easier route of every 90 days and earn max interest.

[elambert]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

0.94% was pre-mined and used for promotion and support.
Here is a link to the detailed ledger:
https://bitcointalk.org/index.php?topic=246300.0

[elambert]

Hi, whenever I try to load up a wallet after syncing it for a while, it just simply won't load and it will just get stuck at the logo before the wallet GUI loads up. Is this happening to other people? Also is there problems with people's wallets syncing with the network?

The splash screen will show for the first couple of minutes per my experience before the wallet opens and syncs (same with Bitcoin). I have not heard or experienced any problems with syncing with the network.

[Percy520]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

0.94% was pre-mined and used for promotion and support.
Here is a link to the detailed ledger:
https://bitcointalk.org/index.php?topic=246300.0

very impressive for the transparency of the premind. The more I understand about this coin the more it convinced me to buy more. Just bought another 2k today.

[elambert]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

0.94% was pre-mined and used for promotion and support.
Here is a link to the detailed ledger:
https://bitcointalk.org/index.php?topic=246300.0

very impressive for the transparency of the premind. The more I understand about this coin the more it convinced me to buy more. Just bought another 2k today.

Congrats Percy! Sounds like your on your way to the 5k club!

[mercSuey]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

0.94% was pre-mined and used for promotion and support.
Here is a link to the detailed ledger:
https://bitcointalk.org/index.php?topic=246300.0

very impressive for the transparency of the premind. The more I understand about this coin the more it convinced me to buy more. Just bought another 2k today.

Congrats Percy! Sounds like your on your way to the 5k club!

That's awesome.

BTW, we are becoming more active on the cryptocointalk.org forum since the owners of this forum are considering shutting down all altcoin subforums.

Moreover, we're getting coordinated to properly launch/moderate our own forum. 

And new website to keep things fresh will be released very soon. 

[FiniteRed]

we're getting coordinated to properly launch/moderate our own forum. 
And new website to keep things fresh will be released very soon. 

This is excellent news, I have high hopes for CGB and I'm glad to say they are looking very well founded indeed

[dadon]

Hi Elambert, I could not find any information about premind in thread. Would you mind to tell me that what is the percentage of premind for this one. Cheers.

0.94% was pre-mined and used for promotion and support.
Here is a link to the detailed ledger:
https://bitcointalk.org/index.php?topic=246300.0

very impressive for the transparency of the premind. The more I understand about this coin the more it convinced me to buy more. Just bought another 2k today.

Congrats Percy! Sounds like your on your way to the 5k club!

i just joined