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JakeThePanda
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February 26, 2014, 08:47:31 PM
Last edit: February 26, 2014, 08:57:54 PM by JakeThePanda |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
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cryptonewbie
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February 26, 2014, 08:59:10 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now.
Agreed. I saw some people claiming to have 5-10k CGB in this thread. Thats 1% of the eventual supply alone. No clue why you would liquidate at such a low level though unless you were intending to later pump up the price. |
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Killiz
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February 26, 2014, 09:04:08 PM |
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Very frustrating. I bought in a month ago, and the price has dropped steadily. Purchased as a long-term investment, but the opportunity cost of not investing in other coins during this time and then buying at this lower price is annoying.
Need a huge marketing push. This thread needs more involvement from the community, and ideas need to be generated.
Marketing is half the battle.
Saying fu** to anyone selling, rather than trying to address people's concerns is a mistake. There are lots of other coins to invest in right now. Imagine if your local store said that to you.
There is a growing community over at reddit http://www.reddit.com/r/CryptogenicBullion papersheepdog is selflessly fronting a marketing campaign over there which is getting into swing as we speak. Members of the community are getting involved, generating ideas and working on projects and services for CGB like the new paper wallet https://cgbaddress.org/ new logo, tipbot, giveaways, and other things in the works. CB needs a certain type of investor, one which has a vision, one which wants to be a part of something that succeeds, to help it succeed, and succeed for everyone involved, if only just by holding on to it. Not someone who wants to be a part of something temporarily for their own gain, for a quick buck, just to shit on it when it isn't going their way. Just to clarify, I am not part of the Dev team, I am part of the community and one small voice among it. I understand what you are saying, but if I feel frustrated and want to voice my opinion to those who are selling by saying fu** I'm sorry, I will. I'm sure the majority of the community is feeling the same way. I appreciate your comments, and I feel the same way. I don't think articulating in that manner is effective imo. I am equally frustrated by seeing the value of my investment shrinking. This coin is suppose to be a store of value, so its baffling to see the value decrease when Bitcoin is both increasing and decreasing in price. I believe in the premise in this coin, and I do think the development team is active in this thread, which helps increase consumer confidence. The rarity of this coin should be driving the price up. I agree also with everything you are saying. I am also baffled by the price drop along with the huge amounts being dumped. What I was saying in my earlier post was basically that those who would sell off their CB like they are at the moment, are not beneficial to CB neither in the shorter term or longer, so it is best they are out, because they are weak. Those CGB are being sold on to people hopefully with a longer term view with a goal that is much further into the future. Most of the CB discussion is going on over at reddit, so I would urge the community here to subscribe over there and get involved. A Reddit discussion is great. Definitely should continue growing that. We have a lot of eyeballs on this forum/thread and she make use of this opportunity. My suggestion is compiling a list of ideas to help push the coin forward. The CGB team can them pick and choose ideas and delegate those tasks to people with the corresponding backgrounds..marketing, development, social media etc. papersheepdog released his marketing strategy and this includes some of the things you have highlighted like getting the community involved with their ideas, with a list of projects individuals of the community can get involved in and develop. http://www.reddit.com/r/GotCrypto/comments/1x7j2w/cgb_open_source_community_development_and/ |
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cryptonewbie
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February 26, 2014, 09:05:44 PM |
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Very frustrating. I bought in a month ago, and the price has dropped steadily. Purchased as a long-term investment, but the opportunity cost of not investing in other coins during this time and then buying at this lower price is annoying.
Need a huge marketing push. This thread needs more involvement from the community, and ideas need to be generated.
Marketing is half the battle.
Saying fu** to anyone selling, rather than trying to address people's concerns is a mistake. There are lots of other coins to invest in right now. Imagine if your local store said that to you.
There is a growing community over at reddit http://www.reddit.com/r/CryptogenicBullion papersheepdog is selflessly fronting a marketing campaign over there which is getting into swing as we speak. Members of the community are getting involved, generating ideas and working on projects and services for CGB like the new paper wallet https://cgbaddress.org/ new logo, tipbot, giveaways, and other things in the works. CB needs a certain type of investor, one which has a vision, one which wants to be a part of something that succeeds, to help it succeed, and succeed for everyone involved, if only just by holding on to it. Not someone who wants to be a part of something temporarily for their own gain, for a quick buck, just to shit on it when it isn't going their way. Just to clarify, I am not part of the Dev team, I am part of the community and one small voice among it. I understand what you are saying, but if I feel frustrated and want to voice my opinion to those who are selling by saying fu** I'm sorry, I will. I'm sure the majority of the community is feeling the same way. I appreciate your comments, and I feel the same way. I don't think articulating in that manner is effective imo. I am equally frustrated by seeing the value of my investment shrinking. This coin is suppose to be a store of value, so its baffling to see the value decrease when Bitcoin is both increasing and decreasing in price. I believe in the premise in this coin, and I do think the development team is active in this thread, which helps increase consumer confidence. The rarity of this coin should be driving the price up. I agree also with everything you are saying. I am also baffled by the price drop along with the huge amounts being dumped. What I was saying in my earlier post was basically that those who would sell off their CB like they are at the moment, are not beneficial to CB neither in the shorter term or longer, so it is best they are out, because they are weak. Those CGB are being sold on to people hopefully with a longer term view with a goal that is much further into the future. Most of the CB discussion is going on over at reddit, so I would urge the community here to subscribe over there and get involved. A Reddit discussion is great. Definitely should continue growing that. We have a lot of eyeballs on this forum/thread and she make use of this opportunity. My suggestion is compiling a list of ideas to help push the coin forward. The CGB team can them pick and choose ideas and delegate those tasks to people with the corresponding backgrounds..marketing, development, social media etc. papersheepdog released his marketing strategy and this includes some of the things you have highlighted like getting the community involved with their ideas, with a list of projects individuals of the community can get involved in and develop. http://www.reddit.com/r/GotCrypto/comments/1x7j2w/cgb_open_source_community_development_and/I think their marketing has improved significantly the past few weeks. My point is that this thread should be used for community ideas/involvement also. This thread gets far more views than Reddit currently. |
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JakeThePanda
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February 26, 2014, 09:08:59 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now.
Agreed. I saw some people claiming to have 5-10k CGB in this thread. Thats 1% of the eventual supply alone. No clue why you would liquidate at such a low level though unless you were intending to later pump up the price.I don't know but the distribution needs to be much wider or whales are continuously going to look for price spikes to dump on. |
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Killiz
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February 26, 2014, 09:23:05 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
I think the addresses with those large amounts of CGB belong to the exchanges like cryptsy, and they have all their deposited CGB held together in a few addresses. The volume of CGB traded in the last few weeks suggests to me that the early miners and the majority of early CGB holders sold off (and are selling off), during this time and moved on. I think if there was an inside job like you believe, manipulating the price, then I would think it would be manipulated in the other direction!? I would go for my former explanation. I've been with CGB from the start and it has always been the transparency and honesty of the CGB community and development team that has kept me loyal to it through thick and thin. Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now.
Agreed. I saw some people claiming to have 5-10k CGB in this thread. Thats 1% of the eventual supply alone. No clue why you would liquidate at such a low level though unless you were intending to later pump up the price. CGB is ridiculously cheap at the moment so being able to buy 5-10k is quite normal for investors who either have a large bank balance or a fat wallet from early bitcoin adoption. |
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Ethapus
Member
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Activity: 64
Merit: 10
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February 26, 2014, 09:40:40 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
Yes I also really wonder what is up with the big wallets and apparent distribution, and I do somewhat worry about that as I am sure many people do. But there are two factors that make me wonder: 1. How many of the big wallets belong to mining pools and exchanges and such? Some are quite obvious, others not. Do exchanges like cryptsy have several wallets? Perhaps one for CGB/BTC, one for CGB/LTC, one or more for cold storage? Could the no. 1 wallet be something of the kind? To me it doesn't look like it, but it seems like a weird pattern/volume/timeframe of transactions and I can't really make any sense out of it. In any case the true distribution of CGB is very hard to estimate so long as a large percentage of holders keeps their coins in a "shared wallet" such as on an exchange. 2. As I already wrote some time ago, the transaction history and size of many wallets shown by coinplorer simply do not add up. Which means I cannot, for myself, trust what coinplorer is showing. Feel free to check it for yourself and make up your mind about that. |
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JakeThePanda
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February 26, 2014, 09:41:18 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
I think the addresses with those large amounts of CGB belong to the exchanges like cryptsy, and they have all their deposited CGB held together in a few addresses. The volume of CGB traded in the last few weeks suggests to me that the early miners and the majority of early CGB holders sold off (and are selling off), during this time and moved on. I think if there was an inside job like you believe, manipulating the price, then I would think it would be manipulated in the other direction!? I would go for my former explanation. I've been with CGB from the start and it has always been the transparency and honesty of the CGB community and development team that has kept me loyal to it through thick and thin. Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now.
Agreed. I saw some people claiming to have 5-10k CGB in this thread. Thats 1% of the eventual supply alone. No clue why you would liquidate at such a low level though unless you were intending to later pump up the price. CGB is ridiculously cheap at the moment so being able to buy 5-10k is quite normal for investors who either have a large bank balance or a fat wallet from early bitcoin adoption. I don't think the large address belongs to Cryptsy or an exchange. I searched my CGB address that I use on Cryptsy and it has my balance and transactions. I believe every account holder at Cryptsy has their own address. |
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JakeThePanda
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February 26, 2014, 09:45:17 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
Yes I also really wonder what is up with the big wallets and apparent distribution, and I do somewhat worry about that as I am sure many people do. But there are two factors that make me wonder: 1. How many of the big wallets belong to mining pools and exchanges and such? Some are quite obvious, others not. Do exchanges like cryptsy have several wallets? Perhaps one for CGB/BTC, one for CGB/LTC, one or more for cold storage? Could the no. 1 wallet be something of the kind? To me it doesn't look like it, but it seems like a weird pattern/volume/timeframe of transactions and I can't really make any sense out of it. In any case the true distribution of CGB is very hard to estimate so long as a large percentage of holders keeps their coins in a "shared wallet" such as on an exchange. 2. As I already wrote some time ago, the transaction history and size of many wallets shown by coinplorer simply do not add up. Which means I cannot, for myself, trust what coinplorer is showing. Feel free to check it for yourself and make up your mind about that. I did my own research on Coinplorer. I tracked some of the movements between the top addresses and I came to the conclusion that one person or entity controls like 280K coins. |
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Ethapus
Member
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Activity: 64
Merit: 10
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February 26, 2014, 09:48:10 PM |
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Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now. How can such a small amount of people get there hands on such a large % of coins?
I think the addresses with those large amounts of CGB belong to the exchanges like cryptsy, and they have all their deposited CGB held together in a few addresses. The volume of CGB traded in the last few weeks suggests to me that the early miners and the majority of early CGB holders sold off (and are selling off), during this time and moved on. I think if there was an inside job like you believe, manipulating the price, then I would think it would be manipulated in the other direction!? I would go for my former explanation. I've been with CGB from the start and it has always been the transparency and honesty of the CGB community and development team that has kept me loyal to it through thick and thin. Does the distribution have anything to do with the price movement? Only 1mm coins and more than 50% are held in the top 10 addresses and I suspect 1 person holds at least 27%. I have to believe the insiders know who the big dumpers are. Sorry, that's just the way I feel right now.
Agreed. I saw some people claiming to have 5-10k CGB in this thread. Thats 1% of the eventual supply alone. No clue why you would liquidate at such a low level though unless you were intending to later pump up the price. CGB is ridiculously cheap at the moment so being able to buy 5-10k is quite normal for investors who either have a large bank balance or a fat wallet from early bitcoin adoption. I don't think the large address belongs to Cryptsy or an exchange. I searched my CGB address that I use on Cryptsy and it has my balance and transactions. I believe every account holder at Cryptsy has their own address. Hmm, my CGB address from cryptsy shows no results and it should be in the top 30 on coinplorer. |
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sheinsha
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February 26, 2014, 09:58:01 PM |
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Some pages ago a user Mangled Blue reported some payout issues, it was a particular case that was solved and the user received the coins just fine, and no other user had issues. Just wanting to update the CGB community with that and thank you all for supporting us. As always CGB.Minar.cc is waiting for you all to come and mine with us!
The pool is working great and paying out fast with cashouts processed in 5 minutes or less!
Minar.cc Admin |
Minar.cc pools are not running anymore, the domain was registered by someone else and I don't have any relationship with the new owner.
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elambert (OP)
Legendary
Offline
Activity: 1696
Merit: 1008
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February 26, 2014, 10:06:43 PM |
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Some pages ago a user Mangled Blue reported some payout issues, it was a particular case that was solved and the user received the coins just fine, and no other user had issues. Just wanting to update the CGB community with that and thank you all for supporting us. As always CGB.Minar.cc is waiting for you all to come and mine with us!
The pool is working great and paying out fast with cashouts processed in 5 minutes or less!
Minar.cc Admin Glad to hear it is resolved! Thanks for your support and the update! |
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mkz
Newbie
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Activity: 14
Merit: 0
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February 26, 2014, 10:55:32 PM |
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Can't get the quotes to work correctly.. Anyway, about those addresses that have lot of CGB. Last time I withdrew CGB from Cryptsy it came from 5Ts4Qoybhx9nBDxD37YRptLi4HBNKD1Za8 . That address is top 2 in https://coinplorer.com/CGB/Addresses/0/Top |
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crackfoo
Legendary
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Activity: 3500
Merit: 1126
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February 27, 2014, 12:31:05 AM |
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Hi, Now at the Hasher pool you can see how much your Est CGB is worth in BTC on the pool stats page: http://cgb.hasher.ca/index.php?page=statistics&action=poolAnd what the current exchange rate is on the Dashboard. Thanks ya'll! Happy Hashing |
ZPOOL - the miners multipool! Support We pay 10 FLUX Parallel Assets (PA) directly to block rewards! Get paid more and faster. No PA fee's or waiting around for them, paid instantly on every block found!
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Percy520
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February 27, 2014, 01:29:27 AM |
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CGB PoW block reward has halved again today further squeezing the supply of newly minted CGB. At this point only 112.5 new CGB are minted each day via PoW mining. At the current price of $0.72 USD per CGB, this means that $81 of new money per day is needed to be introduced in order to remain at the current baseline price! Any incremental investments will cause a rise in price. To put this in perspective, Bitcoin needs $2,160,000 of new money each day to maintain its current price! Add to this equation CGB's rarity of 1 million coins as opposed to Bitcoin's 21 million coins...WOW! I am extremely excited for the ride the CGB community is going to take and hope that more people seize this opportunity before it is gone!
when is the next halving due? |
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crackfoo
Legendary
Offline
Activity: 3500
Merit: 1126
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February 27, 2014, 03:19:15 AM |
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CGB PoW block reward has halved again today further squeezing the supply of newly minted CGB. At this point only 112.5 new CGB are minted each day via PoW mining. At the current price of $0.72 USD per CGB, this means that $81 of new money per day is needed to be introduced in order to remain at the current baseline price! Any incremental investments will cause a rise in price. To put this in perspective, Bitcoin needs $2,160,000 of new money each day to maintain its current price! Add to this equation CGB's rarity of 1 million coins as opposed to Bitcoin's 21 million coins...WOW! I am extremely excited for the ride the CGB community is going to take and hope that more people seize this opportunity before it is gone!
when is the next halving due? another 70 blocks it looks like... |
ZPOOL - the miners multipool! Support We pay 10 FLUX Parallel Assets (PA) directly to block rewards! Get paid more and faster. No PA fee's or waiting around for them, paid instantly on every block found!
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cryptonewbie
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February 27, 2014, 04:12:44 AM |
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I don't get why the price continues to fall as the daily supply lowers. Wouldn't you wait to sell off at the high point if you owned a huge quantity of CGB?
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Percy520
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February 27, 2014, 04:26:30 AM |
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Hi Elambert, I am trying to add an additional new wallet address in my wallet and it seems has a error message, however, the new address did create after restart the client.
Is it still safe to use this new address?
Thanks
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Percy520
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February 27, 2014, 06:57:06 AM |
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Sorry I have one more question, I have created 3 address in my wallet and have some CGB in all the three address. When I want to make a transfer out, how can I choose
which address I want the CGB come from. The reason I need to figure out this is because I want to keep some CGB in the two address for at least 30 days for the minting purpose. Thanks.
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