Historic Cryptogenic Bullion thread - CLOSED

[Killiz]

... you can't have it all 

1 million to rule them all

Hey Team. As promised here is my outline....

wow you are definiatly spot on with your outline! i will try to let it pass a few times this weekend and see what i have to say.

for now i only wanted to drop in to say i have registered a domain for the paper wallet and atm im busy implementing a proper ssl certificate without any browser issues. also forked the paper wallet code and in the next days when i have spare time i'm gonna adopt this for cgb. in my search for a paper wallet i found two versions. one noob proof and the other one based on bitaddress.org. the last one i want to adopt in a later stage as the advanced version but my first goal is to get the noob proof running with basic graphics. also nice to see the paper wallet graphic, top notch!! thanks for doing this papersheepdog.

ps the noob proof version is based on https://bitcoinpaperwallet.com/bitcoinpaperwallet/generate-wallet.html and there willbe an offline version to.

Great work x0rcist! Also the design on reddit looks awesome whoever did it.

FYI, unlocking your wallet every 90 days will assure you of earning max PoS interest (1.5% annually). 30 days will get you 1.2% annually.

Hi,
 So I finally got around to doing the stake minting, but it failed to accept my pass-phrase which was verified as the correct phrase. I followed the prior instructions, again, and again. That was a couple of weeks ago.

Then last week I noticed I was using the prior Qt wallet, not the newest one.

1. Was that the problem possibly - the Qt wallet was not the newest one???

2. Or was I just not doing something correctly instead???  

I am a bit baffled.

3. Lastly, can we simply not stake mint for several months or longer, and still get our stakes eventually, and
    will they be just as large as the "every 90 days" stake minting percentage returns??? Or More??? Or less???

4.  Or is the every 90 days minting the most Optimum point to get maximized returns???

     I ask this because of course it was pointed out that every 30 days is less than optimum, so I can only
    wonder if I did minting only once a year it would also be less than Optimum??? Or Not??
...

Let me see if I can help here, I hope I address all of your questions. You can always reach out to the team via the website support https://cryptogenicbullion.org as well.

- You should download the new client from the website mentioned above
- The old client will still work for your interest earnings, so that was not your issue
- Unlocking your wallet every 30 days will get you 1.2% interest per year, every 90 days 1.5% interest
- 90 days is the max weight so waiting > 90 days will still earn you the interest accrued over the 90 days (1 year would equal 90 days as an example)
- I will get with the dev team regarding your Armory request

Command for unlocking you wallet to collect interest (remember to do this every 30 days at the minimum and every 90 days as the maximum - every 90 days is the ideal for max interest) - NOTE: Do not type the < > symbols.

PC:
walletpassphrase <passphrase> 999999

Mac:
walletpassphrase <"passphrase"> 999999

Hope this helps and thanks for the feedback and advice - good stuff! I am going to send you a CGB for the input Please provide you addy

Would just like to add to elamberts post.

I'm on windows and when I first tried to unlock for minting I kept getting an error.

The problem was I used a pass-phrase with spaces between the words.

Here is an example of how not to do it if you use a phrase with spaces:


walletpassphrase my wallet passphrase 99999


Error: Error parsing JSON:passphrase

Eventually I realized I needed to put it in like this.

walletpassphrase 'my wallet passphrase' 99999

Was nice to see that stubborn little catch flip open on the lock on my client.

Hope this helps if this is the case.

 Thank You! This worked. I will confirm below what did end up working for myself.

 This Last tip unlocked my wallet for minting.

=====================================================


Step 1. Open your CGB Qt Wallet Client

Step 2. Let the wallet update and fully sync up to date.

Step 3. After sync is complete then click HELP/DEBUG WINDOW/CONSOLE tab

Step 4. enter the correct command as shown by example below into the bottom
           of the Debug window where the input box is, after the correct input phrase
           then click ENTER on your keyboard. The inputted command you just typed
           will then display on the screen in the Debug Window. Wait until minting as
           expected is completed. That may, or may not take a little while.
          
Notes:  You can close up the Debug window to monitor the Minting Progress in the
           Overview/main screen while you wait. A popup window will announce any
           received minted coins.

Note:    Note your beginning CGB balance so if you miss the popup receive notice
           you'll instantly realize they came. Or check the Transactions window/tab to
           check if the minted coins arrived if you didn't note the beginning balance.

 Note: Simply close the Qt Client to end the minting session and to re-lock the wallet.



 To confirm exactly what to input:

 if one's pass-phrase is for example = password123  

then this is exactly what I inputted below to make minting begin.

 This is exactly correct command phrase, per example format:


for example one's password = password123
enter exactly what's below this line, on the next line, note the spaces too:


walletpassphrase 'password123' 99999


 Just don't forget the quotes around your pass-phrase, they may, or may not be required. First try with the quotes, and if that doesn't work then try without the quotes wrapped around one's correct 'passphrase'.

 This unlocked the CGB Qt Wallet for my own minting purposes. It's extremely easy to do once one does it once. Then I left it open until the minting is done, note the balance before beginning in case one misses the popup message indicating newly minted cgb coins have been received.

the  '   ' wrapped around the password123 was what was needed here, without the '   '  it simply didn't work no matter what else I tried before. But apparently for some Windows PC's that's not the case.

 So at least some windows PC's will need those quotes rapped around the persons 'passphrase' to unlock the wallet for minting purposes. Seems odd some Windows PC's need that, and some don't, but at least that is solved.

 That's really easy once one knows exactly how to do it, and I will assume that soon it will be refined even more.

 Just realize that if one mined those CGB that the first minting session will result in minting that trickles in over a while, in small drips and drabs per say (that's my own situation, and it's trickling in a little at a time, with one transaction after another, for myself starting about 10 or so minutes after starting the minting routine).


 
 Thanks Again for that last tip, it was golden,

RE:

 Eventually I realized I needed to put it in like this.

walletpassphrase 'my wallet passphrase' 99999


Best Regards

Glad you got it sorted  

Hey Team. As promised here is my outline for what I believe is needed to take this coin to the next level (and then the next). I have carefully constructed the points for mass appeal but certainly welcome ANY criticism. Please take some time to chew on this and get some discussion going. I will be checking back often but must let you all know that I have to keep my own life in balance. Cheers!!!

Cryptogenic Bullion (CGB)

Open Source Community Development and Marketing Strategy

This document contains a collaborative framework for the community development and marketing strategy of the Cryptogenic Bullion cryptocurrency. It is intended to be updated by any member of the CGB community who has a new idea or believes they can refine an existing one. The document is open to the public because it serves as a document of logic and open debate. I believe that releasing the strategy itself might provide other deserving cryptos with some guidance to take their logical place in the ecosystem. This document contains the CGB strengths, misconceptions about CGB, viral marketing concepts, community development and highlighted communities.

This document will be posted (not yet) at http://www.reddit.com/r/CryptogenicBullion and https://bitcointalk.org/index.php?topic=245086.new#new. Anyone who wishes to discuss any part or offer updates can reply to either post. I will try to keep the post up to date. Please understand that I am an independent community advocate like yourself. I am only a small piece of the bigger picture and each must take their own initiative in order for this campaign to succeed.

Cryptogenic Bullion Strengths

Proof of Stake Eco-Security: Cryptogenic Bullion is a second generation cryptocurrency employing an advanced hybrid of legacy Proof of Work mining and Proof of Stake minting to secure the blockchain. This multi-pronged approach makes the "51% attack" a thing of the past. Not only would an attacker have to control half of the CPU power on the CGB network, but they would also have to own half of all of the currency supply of CGB in order to attempt a "double-spend" attack. Although Proof of Stake can be used alone to protect the netowork, the legacy Proof of Work aspect of CGB remains as an additional security layer.

The power consumption of CGB will remain far lower than any other legacy Proof of Work cryptocurrency as most of the reward for securing the network is provided through Proof of Stake minting which can be completed quickly on a smart phone, instead of a supercomputer cluster.

Interest Bearing (1.5%): A major benefit of Proof of Stake minting is that you can pay yourself 1.5% interest on savings, without the need for a bank to take its cut. Compared to legacy Proof of Work systems which reward only those with mining equipment, the benefit is made directly to the people who maintain a savings of Cryptogenic Bullion. A Proof of Work mining incentive of 0.5% brings the yearly production of CGB to 2.0%; a rate modeled after the supply of gold.

Inflationary Stage Completed (rare): In order to distribute coins to the widest population base, cryptographic currencies rely on a mining protocol called Proof of Work. This puts new coins into the hands of those with mining equipment like a gaming PC, or a cutting edge server. It gives everyone a fair chance to adopt and spread the currency, but creates the volatility and downward price pressure seen in so many other cryptocurrencies. Cryptogenic Bullion is the only second generation cryptocurrency to have completed this inflationary stage due to its accelerated reward halving. Without this relentless dumping of new coins that almost all other cryptocurrrencies are now struggling against, Cryptogenic Bullion is ready to meet its market potential.

Active Developers and Community: The development team has proven itself to be publicly accountable to the CGB community and has built a reputation for dependability, transparency, and forward thinking. With this foundation, the CGB community is able to focus on extensive advertising and promotional efforts which have drawn in a diverse collection of individuals to the merits of Cryptogenic Bullion. With a social media focus we have been actively engaging many different markets through the use of, among other media, our Facebook page (https://www.facebook.com/pages/Cryptogenic-Bullion/134177020124803), which has over 15,000 likes and CGB's twitter feed (https://twitter.com/CryptogenicBull) with a current following of over 400 individuals.

Misconceptions about Cryptogenic Bullion

Fast Mining/Inflation Stage: One common misconception about Cryptogenic Bullion is that its shorter mining/inflation stage has not given a wide enough range of individuals the chance to participate as early adopters. We must appreciate that this deployment method was chosen to avoid the long period of inflation which increases the volatility and stagnates most other cryptocurrencies in use today. The CGB community has been very active making every effort to get the word out about CGB and make it available on multiple exchanges. What is not realized is that CGB is still in the early adoption phase but instead of mining coins, the low price is what now enables early adopters to participate in this opportunity. CGB is only just now beginning to realize its potential to the discerning investor.

Community Development

In addition to helping to spread the word, there are other tasks which need to be undertaken in order to support the growth of our community. Any suggestions about areas of development are welcome.

• Dedicated CGB Forum (In progress, soon to be available)
• Cryptogenic Bullion Paper Wallet Generator (In progress) update: One cool redditor by the name of peshosanches has created a paper wallet image, check it out! http://www.reddit.com/r/CryptogenicBullion/comments/1x9y5r/cryptogenic_bullion_paper_wallet_design/
• Statistical Data: We need information to compare CGB to other coins.  See: http://bitinfocharts.com/ (Unknown development status)
• Bitcoin Trezor: This device contains a static environment which holds your private key for **offline** signing of transactions. This kind of technology is seriously needed for long term viability. http://www.bitcointrezor.com/ (Unknown development status)

Viral Marketing Concepts

Got Crypto?: I believe that this phrase has the power to turn Cryptogenic Bullion's slightly awkward name into an advantage. Not only is it a professional name appealing to the investment community, but it can be called 'Crypto' for short. No other coin can logically take this title with more credit than Cryptogenic Bullion.

CGB Vault: This viral concept involves locating high quality vault images and replacing the circular entrance with a translucent CGB logo. This can then include a slogan and or CGB Strengths.

Highlighted Communities

It's important to remember that every community we wish to interact with has its own unique perspective and strategies for contact. We know that any community is made up of members who belong to many other groups and communities; there is a lot of overlap. Our message needs to be as clear as possible and some of the best insights will come from these people. The purpose of this section is to enable these and all other CGB supporters to learn about and understand the most effective ways to communicate with the highlighted community. As this document is updated we should try to build a full picture of each community including:

• Where they can be found
• General level of understanding
• Interaction Notes
• Opportunities
• Common Misconceptions

5a. TBD. All suggestions are welcome. This will be my next focus.

papersheepdog you are a godsend!

Such enthusiasm wow  

We are entering the final and most anticipated stage of CB's life cycle, the investor stage. The miners have had their fun, and took their profit. Now their party is coming to an end. Like you have highlighted the inflationary period is over and it is now up to the smart investor to realise the potential of CB.

Once the Investor gets involved and takes the price to a more realistic level, the mining will again become more profitable and we can all party together  

This thread has been swamped in this forum over the last few months by the relentless bombardment of [ANN] and [GIVEAWAY] threads of new shit, pump, dump, fuck off to the next coin bullshit threads.

We need to carry on with what you have been doing on reddit and keep jumping into the communities of popular, high trade volume, good for the gullible shitcoins, and promote to them something that really has a solid future, background and support, Cryptogenic Bullion.

Really like the work that has been happening this week, and it's nice to take a lung full of the fresh air that's been brought in!!!

[papersheepdog]

Let me know about the paper wallet.  I'll post a link to it on the website.  Also, I'd suggest making it open source and available on github so users can make their paper wallets offline (more secure).

I'm ecstatic to see some community involvement!!

yes ofcourse it willbe available on github!! lost some hours on the ssl as i just found out its not supported with the plan i have at cloudflare but we are moving in the right direction ps. i still have that wiki we discussed some months ago (if you still remember), idea for after i finished the paper wallet?

I remember the wiki.  I forwarded it to a couple supporters but no one was willing to take up the job.

So I think I'll offer a small bounty to get the contents of the wiki filled out.

Cheers.

A wiki I think would be a worthwhile addition to our resources if its not too much trouble. The format lends itself well to any kind of documentation like the HOWTO stuff for different operating systems and stuff like PoS minting. I could also see it as a beneficial place to lay a foundation for fundamental cryptocurrency market analysis. It's just a bit tricky because people usually feel intimidated when it comes to actually contributing

[papersheepdog]

papersheepdog you are a godsend!

Such enthusiasm wow  

We are entering the final and most anticipated stage of CB's life cycle, the investor stage. The miners have had their fun, and took their profit. Now their party is coming to an end. Like you have highlighted the inflationary period is over and it is now up to the smart investor to realise the potential of CB.

Once the Investor gets involved and takes the price to a more realistic level, the mining will again become more profitable and we can all party together  

This thread has been swamped in this forum over the last few months by the relentless bombardment of [ANN] and [GIVEAWAY] threads of new shit, pump, dump, fuck off to the next coin bullshit threads.

We need to carry on with what you have been doing on reddit and keep jumping into the communities of popular, high trade volume, good for the gullible shitcoins, and promote to them something that really has a solid future, background and support, Cryptogenic Bullion.

Really like the work that has been happening this week, and it's nice to take a lung full of the fresh air that's been brought in!!!

Thanks for the feedback Killiz! It helps to know that I am among peers. The pump and dump scene frustrates me as well especially when I see bitcoin clones, in this day and age, still make off like a rocket ship. Fundamental analysis of these rockets show the fuel supply to be woefully inadequate. We need the excitement to surround actual innovation.

I have said that the rise and fall of cryptocurrencies will be like that of fiat but in the speed of modern technology. Even in this digital world we see what vested interest can do to stagnate human progress. This must end.

Reddit is the front lines of this battle I assure you all. We must be mindful of our message and audience. We must be respectful and even extoll the merits of our competitors because they will not cross if there is no bridge. Do not forget that we are part of an ecosystem and other coins are not wrong, they are just playing out their logical course which will likely end in some kind of balance, with different cryptos appealing to different use cases and communities. Let logic prevail over emotion(and hold tight to your CGB ).

[papersheepdog]

I bet there are others who could do better 

[patmast3r]

I bet there are others who could do better 

It looks awesome dude !
Isn't CGB POW / POS though ? You only mention POS.

[Ethapus]

http://www.allcrypt.com/beta/voting.php vote here for CGB you can vote 10x in 24 hrs so just keep clicking

C'mon guys, we need more votes 

[artiface]

http://www.allcrypt.com/beta/voting.php vote here for CGB you can vote 10x in 24 hrs so just keep clicking

C'mon guys, we need more votes 

Besides just 10 votes, you can send bitcoin! .000125 per vote.
19Ppi6D2b4ChoWDD7LpoH7amfgWdpdiEm8

[bahamapascal]

http://www.allcrypt.com/beta/voting.php vote here for CGB you can vote 10x in 24 hrs so just keep clicking

C'mon guys, we need more votes 

Voted

[papersheepdog]

I bet there are others who could do better 

It looks awesome dude !
Isn't CGB POW / POS though ? You only mention POS.

Good point patmast3r and thank you for bringing it up.  With space at an extreme premium in the attention span of the average person I had to break it down to the most critical of points. To the mass public, Proof of Stake Eco-Security conveys the intended message that the security model is different than the rest and somehow more efficient. To the educated public,  the phrase quickly informs them that this is a second generation crypto currency. Upon further reading, the educated public will quickly realize, if they dont already know, that CGB did rely on an inflationary Proof of Work stage which has completed leaving the PoW mining aspect secondary to PoS minting.

[Ethapus]

I bet there are others who could do better 

It looks awesome dude !
Isn't CGB POW / POS though ? You only mention POS.

Good point patmast3r and thank you for bringing it up.  With space at an extreme premium in the attention span of the average person I had to break it down to the most critical of points. To the mass public, Proof of Stake Eco-Security conveys the intended message that the security model is different than the rest and somehow more efficient. To the educated public,  the phrase quickly informs them that this is a second generation crypto currency. Upon further reading, the educated public will quickly realize, if they dont already know, that CGB did rely on an inflationary Proof of Work stage which has completed leaving the PoW mining aspect secondary to PoS minting.

Yes I totally agree, the idea of such a virtual "flyer" is to attract attention, nothing more. People then have the responsibility to thoroughly inform themselves before investing. While a flyer should not straightout lie (many advertisements get darned close to it all the same), it does also not have the responsibility of telling the whole truth. Especially if parts are not left out in order to be misleading, but to simplify an otherwise elaborate subject and thus making it more easily accessible to the reader.

On a different note, while I do like the new flyer, I find that it is rather hard to read. The picture itself has some harsh contrasts, and together with the type layover (especially the small type across the opening of the vault) it just becomes a bit chaotic. The font colour adjusted to the background looks good, but makes reading even harder. I honestly don't really know how to easily do something about that however, the pic is just to cramped and full of contrasts to easily fit text on. A larger image section showing more wall and floor to put text would probably solve the problem.

I am very glad for your work and definitely don't mean to be discouraging, just giving some (hopefully) constructive critizism 

[pgbit]

I am getting a "Checkpoint too old / notify dev" message but with 8 active connections.

Current blocks:323660
Estimated total blocks: 323654

Client version: v1.1.6.4-gdf9d55a-cgb

Do I need to add some newer nodes? Thanks for any help.

[papersheepdog]

I bet there are others who could do better  

It looks awesome dude !
Isn't CGB POW / POS though ? You only mention POS.

Good point patmast3r and thank you for bringing it up.  With space at an extreme premium in the attention span of the average person I had to break it down to the most critical of points. To the mass public, Proof of Stake Eco-Security conveys the intended message that the security model is different than the rest and somehow more efficient. To the educated public,  the phrase quickly informs them that this is a second generation crypto currency. Upon further reading, the educated public will quickly realize, if they dont already know, that CGB did rely on an inflationary Proof of Work stage which has completed leaving the PoW mining aspect secondary to PoS minting.

Yes I totally agree, the idea of such a virtual "flyer" is to attract attention, nothing more. People then have the responsibility to thoroughly inform themselves before investing. While a flyer should not straightout lie (many advertisements get darned close to it all the same), it does also not have the responsibility of telling the whole truth. Especially if parts are not left out in order to be misleading, but to simplify an otherwise elaborate subject and thus making it more easily accessible to the reader.

You are absolutely correct on this. I have been very careful to make sure that anything written is not disingenuous. For example when I say that the inflationary stage is completed, I have taken a broader look at the deployment of the currency and used the phrase to highlight a key difference in the life cycle progress of CGB compared to other crypto currencies. It is true that CGB has not reached its target 2% inflation, but with over 90% deployment, there is very little room left for CGB to come anywhere close to the inflation rates of most other crypto currencies. On this note, I am not the master source for information and I really need anyone who sees an inconsistency in our marketing campaign material to let us all know right away so that it can be corrected.

On a different note, while I do like the new flyer, I find that it is rather hard to read. The picture itself has some harsh contrasts, and together with the type layover (especially the small type across the opening of the vault) it just becomes a bit chaotic. The font colour adjusted to the background looks good, but makes reading even harder. I honestly don't really know how to easily do something about that however, the pic is just to cramped and full of contrasts to easily fit text on. A larger image section showing more wall and floor to put text would probably solve the problem.

I am very glad for your work and definitely don't mean to be discouraging, just giving some (hopefully) constructive critizism  

I appreciate the feedback! The most positive comment that anyone could give to this and other advertising material is a critical assessment. You have highlighted another way that this viral concept can be interpreted. In my case I have gone for close-up visually stunning imagery to capture the imagination in hopes that they read the details on the strengths of CGB. Honestly the strengths are intended to be read after the idea of CGB as being a safe place to store your wealth has sunken in. The image is actually computer generated and the contrast was very high, lowering it would have unfortunately reduced that stunning aspect. I am not a photoshop (gimp) master but I find it enjoyable and have many other fun ideas to bust out in good time  . I invite anyone to come up with their own interpretation, the image size can be different, colors, text, its all wide open to interpretation. When you submit your masterpiece, realize that criticism is actually more useful than excited approval (although the latter provides a helpful warm fuzzy feeling). Thanks for both!

[patmast3r]

Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !

[papersheepdog]

Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !

You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording.

[patmast3r]

Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !

You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording.

Are you saying the mining will continue after 1 000 000 CGB have been created and the miners will be rewarded with .5% of all the interests ?

[papersheepdog]

Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !

You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording.

Are you saying the mining will continue after 1 000 000 CGB have been created and the miners will be rewarded with .5% of all the interests ?

According to the announcement:

•   1.5% Annual PoS Interest
•   Subsidy halving after every 50k blocks until reward of 0.01 is reached were it will remain in perpetuity
•   ~1,000,000 Cryptogenic Bullion cap with 0.5% annual PoW inflation

This could be interpreted that there is a hard cap but the wording strongly suggests by "cap with 0.5% annual PoW inflation" and  "[reward]... will remain in perpetuity" that the 1'000'000 CGB is just a mining target for last non-0.01 reward. From then on a steady rate of at most 2.00% per year increase in the monetary base occurs. In fact the miners will receive at least 25% of all reward, while prudent savers will receive at most 75% of total newly mined/minted CGB.

[elambert]

I am getting a "Checkpoint too old / notify dev" message but with 8 active connections.

Current blocks:323660
Estimated total blocks: 323654

Client version: v1.1.6.4-gdf9d55a-cgb

Do I need to add some newer nodes? Thanks for any help.

Please download the newest version of the client with updated checkpoint (1.1.6.5):
https://cryptogenicbullion.org/#download

[elambert]

Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !

You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording.

Are you saying the mining will continue after 1 000 000 CGB have been created and the miners will be rewarded with .5% of all the interests ?

According to the announcement:

•   1.5% Annual PoS Interest
•   Subsidy halving after every 50k blocks until reward of 0.01 is reached were it will remain in perpetuity
•   ~1,000,000 Cryptogenic Bullion cap with 0.5% annual PoW inflation

This could be interpreted that there is a hard cap but the wording strongly suggests by "cap with 0.5% annual PoW inflation" and  "[reward]... will remain in perpetuity" that the 1'000'000 CGB is just a mining target for last non-0.01 reward. From then on a steady rate of at most 2.00% per year increase in the monetary base occurs. In fact the miners will receive at least 25% of all reward, while prudent savers will receive at most 75% of total newly mined/minted CGB.

Yes, as psd pointed out, PoW mining will continue forever at a rate of .01 CGB per block (once this baseline reward is reached). This will occur close to the estimated cap of 1 million, but I would have to take a closer look for an exact calculation. The .01 PoW reward will account for .5% yearly inflation based on the 1 million estimate. PoS interest will pay a max of 1.5% per year - this assumes that all funds are held and not moved, any CGB in circulation would reduce this 1.5% estimate. Basically the max inflation possible is 2% per year once the baseline PoW subsidy is reached.

[Digicoiner]

I am getting a "Checkpoint too old / notify dev" message but with 8 active connections.

Current blocks:323660
Estimated total blocks: 323654

Client version: v1.1.6.4-gdf9d55a-cgb

Do I need to add some newer nodes? Thanks for any help.

Please download the newest version of the client with updated checkpoint (1.1.6.5):
https://cryptogenicbullion.org/#download

I've upgraded to 1.1.6.5 using the installer but still getting the checkpoint too old error.  How can I fix this?

[elambert]

I am getting a "Checkpoint too old / notify dev" message but with 8 active connections.

Current blocks:323660
Estimated total blocks: 323654

Client version: v1.1.6.4-gdf9d55a-cgb

Do I need to add some newer nodes? Thanks for any help.

Please download the newest version of the client with updated checkpoint (1.1.6.5):
https://cryptogenicbullion.org/#download

I've upgraded to 1.1.6.5 using the installer but still getting the checkpoint too old error.  How can I fix this?

Please follow instruction here.