Draft of CGB Website's new text - Your Input Requested!For more discussion please see the reddit post.Greetings everyone. I am posting a draft of some of the sections of the new website. They are a work in progress and any input on this content or anything else you would like to see on the new site is appreciated! The website will be focusing on educating investors of all ability so that they can understand the crypto-currency markets and make wise decisions within them. Without this understanding, our markets will not be able to efficiently, and with confidence, allocate capital to the true pillars of this new economy.
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AboutAbout:Cryptogenic Bullion is a digital asset with all of the qualities of money. It is a descendant of Bitcoin, but employs an advanced security model which is more efficient and more secure than Bitcoin. The problems of today's debt based fiat currencies find solutions in cutting-edge decentralized cryptographic currencies like Cryptogenic Bullion. Designed to function as a store of wealth, CGB's fundamentals emulate the properties and supply of gold.
While Cryptogenic Bullion shares many traits with Bitcoin such as fast global payments, decentralization, pseudo-anonymity, and non-reversible transactions, there are many improvements which allow CGB to more reliably store wealth. A critical requirement for storing wealth is a low inflation rate. Cryptogenic Bullion is a very rare exception in that it has nearly completed its volatile inflationary stage and settled into its maximum yearly inflation rate of 2%. It also allows prudent savers of Cryptogenic Bullion to earn up to 1.5% interest on funds left unspent in their wallets for at least 30 days.
CGB Strengths/Benefits (text to be developed)
Specifications
Proof of Work/Proof of Stake Hybrid
Algorithm: Scrypt
Linear difficulty retarget (every 2 blocks)
5 Confirmations
60 Second block time
1.5% Annual interest earned
Subsidy halving after every 50k blocks until reward of 0.01
Target ~1,000,000 CGB
0.5% PoW & 1.5% PoS inflation
Based on Peercoin & Novacoin
FAQ:Investor BriefIf you are new to the crypto-currency market, you have likely noticed what seems like an extreme abundance of different options. The market is still new, and most of these have not been created with sound economic and social fundamentals. When we step back and look at the whole picture, we see a fight between miners, who complete difficult calculations to generate new coins, and investors, who are buying coins on the market based on perceived potential. A third unseen player in the market is the scammer. Since there is real capital involved, and due to the anonymous nature of crypto-currencies and the internet itself, these people are known to coordinate pump-n-dump scams and will even create new digital currencies just for this purpose. It is important, as investors, that we conduct our due diligence before allocating capital to ensure that we are both on the right side of a trade, and that we are supporting only those projects which deserve the capital.
Capital flows can be understood when we realize that there are many different reasons to hold a crypto-currency. They can be held to spend, held to save, held to invest, and used to move funds from one person, place, or market to another. It is important to know this, because predicting changes in demand is how an investor can generate a return. Cryptogenic Bullion functions well for saving because of its low inflation rate, and the interest that can be earned by holding it. The value of Cryptogenic Bullion is not determined by how many markets it can directly trade to, nor by how many businesses and individuals will accept and hold it for spending, but from its fundamentals which allow it to serve as a more stable store of wealth.
Text to be developed
The need to diversify
Trust in the protocol
Charts / Fundamentals
Get CGBSince CGB's primary function is to store wealth and not as a volatile market gateway such as Bitcoin, we must naturally acquire Bitcoin first in order to trade out to Cryptogenic Bullion. The most common way to acquire Bitcoin is by linking your bank account to a trusted exchange website site such as coinbase, bitstamp, or Vault of Satoshi. However, there is a way to use PayPal, in a way that complies with its Terms of Service, to sell $USD for Bitcoin at an online exchange website called VirWoX. Details can be found here.
Mining and Minting to get CGB (Text to be developed)
ResourcesLinks: Paper Wallet Generator
Block Explorers
CGB Wiki
Technical Charts: Embedded Live Data
External Live data (links)
Analysis
CommunityCommunities: Cryptogenic Bullion on Reddit
Cryptogenic Bullion on BitcoinTalk
Cryptogenic Bullion on Twitter
Cryptogenic Bullion on Facebook
CryptoMarkets on Reddit
CryptoCurrency on Reddit
Bitcoin on Reddit
Dogecoin on Reddit
Community Development:This content will be cleaned up
Lightweight Blockchain Client: (Research Stage) See this post. This gives a client the ability to conduct transactions with a subset of the blockchain. It's useful for mobile applications and offline transaction signing. eg. BitcoinJ, Armory and Electrum
Expanded Wallet features: (Research Stage) We are looking to add some exciting new features to our wallet software including CGB network statistics and an RSS feed like functionality. All suggestions welcome!
Offline Transaction Signing: (Research Stage) This requires the above Lightweight Blockchain Client. eg. 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.
Wallet Software Speed Optimization: (Research Stage) Currently the CGB wallet software can take a couple minutes to load (or more depending on CPU). Some other crypto-currencies have been able to optimize their load times down to 15 seconds.
Dedicated CGB Forum: (In progress) A dedicated forum would be a nice touch.
CGB Wiki: (In testing phase) This will be of great value to us as we can logically create and arrange how-to documentation and all other kinds of information in an easy to navigate and reference repository.
Reddit Formatted Advertisements: (Requesting Ideas) We are in need of advertisements for CGB which are formatted 300px wide x 250px tall. These can be generic advertisements or targeted to a specific subreddit. These advertisements will link back to the /r/CryptogenicBullion subReddit to bring in new community members. For now buying ad space is voluntary but perhaps we may involve some kind of fund to help in the future. (Thanks /u/hybridsole for bringing this up) Update: These functinos might not be as useful as we become more reliant on PoS for security, but might not be a bad idea anyhow, research required. (Artiface) In the future I would like to have the client have a nice visualisation of POS showing stake weight and an estimate of when stake should be generated.
Statistical Data: (Requesting Data) We need information to compare CGB to other coins. See:
http://bitinfocharts.com/ This includes all kinds of data like technology comparison, coin variables, distribution, and all relevant attributes to be compared with each other.
Community Content: Understanding Crypto-Currency Market Dynamics and the Role of BTC, DOGE, and CGB - /u/papersheepdog
Technical Analysis of CGB All-time Chart Feb 13, 2014 - /u/papersheepdog
Technical Analysis of CGB All-time Chart Feb 27, 2014 - /u/papersheepdog
How to buy CGB with Paypal - /u/papersheepdog. Also see this page for a more exhaustive list of methods
How can CGB sort of step in and take the role of being a store of wealth? - /u/PVKT
Cold offline Revlar CGB wallet - /u/LarryHardcore
Do you have the hands? - /u/Killiz
Effect of Block Halving on Price - /u/papersheepdog note: This no longer has a major impact on CGB.
Businesses accepting CGB: List of businesses which accept CGB
MarketingStrategy:Viral 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. For example:
https://i.imgur.com/BU1HSdC.jpgCGB 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. For example:
https://i.imgur.com/JgSQkHw.jpgCGB Bull: This viral concept involves making reference to spanish traditions of running with the bulls. A bull market is one which has established an up-trend in valuation. "2014 - Year of the BULLion!" "Run with the CGB Bulls!" etc. Any imagery involving actual bull runs and possibly subtle market chart imagery. Be careful not to appeal to greed, we don't need that kind of volatility. For example:
https://i.imgur.com/Fe17cZE.png and
http://www.youtube.com/watch?v=Fa-nfIksY4oCrypto-Asset Trinity: As explained in this paper. A well functioning cryptographic asset market requires three roles to be filled: market gateway, adopted currency, and store of wealth. Bitcoin is the gateway that allows us to access so many markets especially USD of course. Dogecoin is riding a wave of excitement to be accepted by a wide array of merchants and businesses, creating an economy that doesn't require conversion back to government issued fiat as the people choose their own currency. Cryptogenic Bullion is the first crypto-currency to display all of the properties of money, while providing the bearer with interest for holding it. It is portable, divisible, fungible, scarce, low inflation, durable, non-consumable, and a store of wealth.
Crypto Stacking: I know I am not the only one who calls the contents of my CGB wallets a "stack." Some of us have found interest in crypto-currencies for the same reason that we may also hold physical Silver or Gold. Any parallels that can be drawn in imagery or wording to the "Silver Bug" community can be a fun way to promote value and inclusion.
Press: Dec 30, 2013 There Are Now At Least 14 Digital Currencies Worth More Than $US1 - Business Insider
Sept 10, 2013 The Rare, Interest Bearing, Bitcoin Alternative – Cryptogenic Bullion - Yahoo! Finance
Material: Images, logos, memes, posters, video, etc
LearningDocuments: Bitcoin Whitepaper
Peercoin Whitepaper
More to be added
Getting Started:CGB's LIfecycle:Market Fundamentals:The cryptographic currency market can naturally be seen as part of the greater foreign exchange market which includes all government issued fiat currencies. Many parallels can be drawn and it can get very technical. In order to be understood by the widest audience, I have left out some distinctions which are not relevant to the overall understanding of these concept and would likely cause confusion. We will begin by defining some basic elements found in these markets, the forces that are at play, and details on the roles to be filled in this new economy.
The
Monetary Base of a currency is the total number of units of a currency that are in existence. The monetary base can expand or contract. Expansion happens through mining and minting, while contraction occurs if a wallet is permanently lost. Although the monetary base may expand, if the new units are being held and not put on to the market, they may not cause a loss in relative value known as inflation. Correspondingly, if a large amount of the currency is lost forever or simply held by the population, an apparent shortage of the currency eventually forces the market to realize a higher exchange rate, identified as deflation. These forces act to stabilize the market as low relative prices encourage spending, and high relative prices encourage saving, thus maintaining a steady exchange rate and flow (ie. velocity of money).
Unit price is the cost per unit currently found on the open market for a particular crypto-currency. In a currency with a very low expansion rate, this would be primarily affected by the flow of capital. Currencies experiencing a high expansion rate of the monetary base will require a supply of capital inflow to balance against the base expansion, called the maintenance cost. As the unit price doubles, so does the capital inflow rate requirement (maintenance cost). This dynamic becomes readily apparent when the unit price rises too quickly for the capital inflow rate to maintain the new price (pump) and a correction must occur (dump). In addition to capital inflow, the maintenance cost can also be countered by members of the community who choose to hold and save their currency.
Market Capitalization can simply be seen as the total amount of capital that has been invested into a currency. For these markets, normally it is measured in USD, but it could be measured in BTC or any other currency. Usually we would measure this in the currency that we are more familiar with or the one which we perceive to be the most useful. From an investment point of view, market capitalization is a measure of popularity but not necessarily profitability. Market capitalization is calculated by multiplying the unit price by the number of units. Investors are primarily concerned with the unit price because this is the direct value of what they hold. If the capital inflow is directly balancing against the expansion of the monetary base (paying the maintenance cost) we will see an increase in market capitalization over time, without an increase in unit price.
Capital flows can be understood when we realize that there are many different reasons to hold a crypto-currency. They can be held to spend, held to save, held to invest, and used to move funds from one person, place, or market to another. Each of these actions has an implied positive effect on the market capitalization for the length of time that it is held in that currency. For example, we can convert USD to Bitcoin, and Bitcoin to CGB where is it held for a year. Each week, a portion is converted to Bitcoin and then to Dogecoin as a weekly spending allotment. We can see that Bitcoin was used the most often, but with the shortest hold times. CGB was the least active, but with the longest hold times. Dogecoin was being held, but not in great quantities. The fact that different roles are being played here is not widely known and provides the diligent investor with more tools to understand these markets.
In order to further understand why one crypto-currency cannot fill all roles, we must look at the ideal fundamentals for each role. A store of wealth must have a low inflation rate to preserve capital and reduce volatility, and can encourage holding by providing interest. An adopted currency must encourage spending by inflating to match the size of its expanding economy as more participants hold to spend. A market gateway should have a positive inflation rate to encourage liquidity and high volume access to many different markets.
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