Historic Cryptogenic Bullion thread - CLOSED

[110110101]

Soon there will be no buy orders Such f...g great coin, that everyone wants to sell them.

I regret I invest in cgb.
All these marketing stuff is nothing. We need big buyers. Buy walls on at least 0.0007. If there will be bigger trading volume we would be added to mintpal and that so ppl would be hear about CGB.

Know the feeling. I bought in to CGB when the prices where around 0.004x, roughly 10x higher than what they are currently. But I chose to keep my CGB and wait and see what it brings in the future. Looking back and seeing that an initial $10K investment has decreased to 10% is depressing, but those are the rules in the crypto game 

I would like to see for an increase in value for miners, not just relying on future investors to provide a growth of value for CGB. The merged mining mentioned above sounds like a step in the right direction. We need to provide incentives to others besides investors to keep up the demand for CGB. Using alt-pools to create a buy support could provide an artificial demand, but I know that this was not in favor of the team.

In my humble opinion, I would rather see CGB traded on a few exchanges to keep the trading volume higher per exchange. As it stands today, we have one or several bots doing low volume exchanges and can keep the price to what the owner would like it to be. Granted, the same could occur on an exchange where the volume is larger, but at least it would cost a malicious bot more CGB/BTC to manipulate the prices.

Looking forward to the new wallet and the new features that it brings to the game. Keep up your good efforts dev-team, CGB is indeed a special alt and we're glad to have you guys pushing CGB in the right directions!

[elambert]

Kicking off the countdown to CGB's first birthday!

https://bitcointalk.org/index.php?topic=633928.0

[8mai]

Know the feeling. I bought in to CGB when the prices where around 0.004x, roughly 10x higher than what they are currently. But I chose to keep my CGB and wait and see what it brings in the future. Looking back and seeing that an initial $10K investment has decreased to 10% is depressing, but those are the rules in the crypto game  
(about same story here..)

In my humble opinion, I would rather see CGB traded on a few exchanges to keep the trading volume higher per exchange. As it stands today, we have one or several bots doing low volume exchanges and can keep the price to what the owner would like it to be. Granted, the same could occur on an exchange where the volume is larger, but at least it would cost a malicious bot more CGB/BTC to manipulate the prices.

(This is what i think we should put 100% of our priority on!! At least i'm not the only one here who can see this. )

Looking forward to the new wallet and the new features that it brings to the game. Keep up your good efforts dev-team, CGB is indeed a special alt and we're glad to have you guys pushing CGB in the right directions!

Any developers free to contact(pm) me on how to execute this halt/or screwing up this manipulation feel free to contact me.. IT is quite easy, just needs some teem work.

BR.. (8mai)

[papersheepdog]

Crytpsy is totally manipulated. Does not take a genius to see it.

Just take a look at the sell/buys of 0.00002cgb and less.. who would do this. Hundreds of basically valueless transactions  per day. (especially at a piece like this.. micro-trades)
And then it would seem every-time some 3k or so is bought . Its seems as its sold at lesser then a  price before..(to keep the price down maybe. Why?)

Something fishy going around there.

Removing all my cgb from there. I suggest everyone to do the same, at least when who ever is doing it will need to make a new bot for it for other exchanges.... Question is though, by whom ?

This is a price manipulation for sure.

Anyone who will take a look at the trade history there, can see it for clear..

NB- Been holding/mining/buying since start. Total stake of about 1.7k
Quite disappointid of this manipulation. I'm sure if we do something dsastic like boycot cryptsy we can overcome this.

Lets boycot cryptsy... Its obvous its their job. One the plus side this will make volume go up on tons of other exchanges we are on.

I speculate at least 300-1000+ % rise in price once its gone from there... We all know its undervalued cause of manipulation.

Who agrees ? my stake of 800 removed from there... Who will join me? Lets see what happens to prices there then.. (maybe we can even buy up all the Cheap CGB this guys is manipulating with. )

What he does he buys a bit higher, dumps a bit lower (buys from him self) looses 0.1% ... and that is it. this whole BS cost him maybe only 10-20usd a day. So Someone has some big plans of has a grudge against CGB.

In my opinion, a market has to clear itself out. If we try to manipulate the manipulator, its just going to end badly. We already know that we have a fairly low trading volume and are even kicked off of coinmarketcap.com first page most days (it seems). We are looking back at a massive correction in the trajectory of a "failed coin," which upon close inspection we know not to be the case. The reason for this is that everyone is busy pumping the next thing. There are millions of dollars of "market cap" hanging around all over the place just looking for the next money maker. They equate mining reward with coin value because they want to mine for profit like any rational player would. The price, with such little notice right now from the get rich crowd, is not reflecting fundamentals. This is the definition of an investment opportunity worthy of further study.

Boycotting Cryptsy wont help, they are providing the services they should, and we can't exactly force people put honest volume here or there which would be the bigger problem. It does sound like driving down the price to acquire more, we see it in a lot of other markets. We just need to get our volume back. Nearly the entire currency supply has changed hands this year (~1 million CGB), to have less than a few hundred some days seems like the eye of the storm . Waitin' for payday here, haven't picked any crypto up lately but this is tantalizing.

Any developers free to contact(pm) me on how to execute this halt/or screwing up this manipulation feel free to contact me.. IT is quite easy, just needs some teem work.

BR.. (8mai)

We are having some real discussion about shoring up CGB's price action through other means over at the CGB Development Workshop. Please chime in over there  if you can think of specifics guys. This openness is appreciated. Check my next post for a sample of what just might get our community some major attention.

[papersheepdog]

CryptoTown On The Ground V0.1F (PDF)

Please also see the Reddit post for further discussion.

[IMZ]

110110101 and Bmai, I am ignorant of this stuff; but I sure am reading your posts. I am also shifting soon to Mintpal because I have heard it is more secure and has larger volume.

I look forward to discourse about our "Be the Bourse" principle. Yes, it's a stragem for CGB-ers to arrange sales on an 'in-house' bourse; but it isn't our fault that coinmarketcap is designed with a focus on volume. I once saw 300,000 coins of a small-cap coin traded without knocking the price by a single satoshi.

Just submitted another article to Market Oracle. Early days yet, but it's a pivotal ploy.

Mark Blair

[COMKORT]

Comkort disabled CGB trading because of bug with getbalance method in Linux daemon.

Problem can be reproduced with command:
cryptogenicbulliond getbalance "anyemptyaccount"

Command will return wrong amount: 1399135928.40432000

We will enable withdrawals only on Monday after several checkings.

[IMZ]

I mean no offence.
I mean no offence.
I mean no offence:
'Earn. Store. Multiply.' is ambiguous.

How about 'Low volume by design'?

Mark Blair (Aus.)
CGB: low volume by design

[BTCat]

Thank for the cheap coins. I'm buying some more 

[Percy520]

why the price is keep going down??

[patmast3r]

why the price is keep going down??

No appearant reason - at least not appearant to me.
I'm almost laughing at the fact that cgb has managed to loose that much value recently despite best efforts of the core team and the recent surge of BTC. It seems really weird to me.

[papersheepdog]

why the price is keep going down??

No apparent reason - at least not apparent to me.
I'm almost laughing at the fact that cgb has managed to loose that much value recently despite best efforts of the core team and the recent surge of BTC. It seems really weird to me.

It is interesting. I see no downside here, other than plain dumb momentum. The Core Team and our projects are here to stay, we will be advocating CGB in these projects where prudent to do so. We have been working very hard to build the community since the price came down to .001 from the all time highs.

I want to say this in no uncertain terms. CGB is in an excellent position and nothing has changed for the worse, on the contrary, its only building positively. I am not in it for the money, though I do continue to add to my position. We will show that just because the pump and dump scene has forgotten about a coin, doesn't mean that it is no longer viable. I challenge anyone to dispute this, or any aspect of CGB's future as a store of wealth.

In fact, its kind of laughable to sell into such low volume. Perhaps someone is desperate for the cash. It is possible they could try to manipulate the price lower to attract further dumping from others in order to buy. It doesn't make a lot of sense to accept such little return on such a currently scarce market. I suggest we move forward without weighing the price as such an important indicator. Again, It has no effect on the effort that the CGB Core Team and community is putting up.

[FiniteRed]

omg, just seen the price - this is amazing, deal of the frik'en century! I might even make it into the 1k club at this rate

  who are these dumping people 

[mvdheuvel1983]

omg, just seen the price - this is amazing, deal of the frik'en century! I might even make it into the 1k club at this rate

  who are these dumping people  

I don't know who's selling. Prices are so low and buy support is so little you can maybe get 2 BTC for dumping 10k CGB... it's ridiculous to sell if you ask me.

Maybe CGB fell victim to the "HODLERS". Too many CGB are in the hands of a few big whales, who are unwilling to sell and only get bigger because they have low buying orders?

All you can do with CGB is hoard them, you can't DO anything with it.

And because of that there is zero buying force, and instead of it only a constant selling pressure.

That's the whole problem with CGB, you can't use it. If you can find some use for it, I'm confident we will see it rise like a phoenix. 

[IMZ]

I am about to blow a valve: scraped together seventy five bucks' worth of Bitcoin; transferred it to Cryptsy to buy CGB; and . . .


who knows? Seems to have fallen between the cracks. (Wow, I am so new to this).

It's good to see someone calling for the development of 'merchant facility.' I just finished a 'Birthday Document' of ideas.

And come visit here: http://www.reddit.com/r/GotCrypto/comments/26tpps/cgb_development_workshop/

We are working on a daily basis to make CGB a superlative coin community. Come and help!

Mark Blair, Australia
CGB: low volume by design

[Matic]

Just both 1000 CGBs.. very cheap!,
I expect the price will triple in a couple of days

[papersheepdog]

omg, just seen the price - this is amazing, deal of the frik'en century! I might even make it into the 1k club at this rate

  who are these dumping people  

I don't know who's selling. Prices are so low and buy support is so little you can maybe get 2 BTC for dumping 10k CGB... it's ridiculous to sell if you ask me.

Maybe CGB fell victim to the "HODLERS". Too many CGB are in the hands of a few big whales, who are unwilling to sell and only get bigger because they have low buying orders?

All you can do with CGB is hoard them, you can't DO anything with it.

And because of that there is zero buying force, and instead of it only a constant selling pressure.

That's the whole problem with CGB, you can't use it. If you can find some use for it, I'm confident we will see it rise like a phoenix. 

I cannot explain it better than what has already been done on the CGB Website - Learn More section:

CGB’s Life Cycle

It is helpful to understand the fundamental properties of each crypto-currency when trying to determine which one is best suited to a particular purpose. In order to ensure a fair distribution of the crypto-currency, they are typically mined into existence using “consumer grade” hardware to give an equal opportunity to everyone. This is the first phase of most crypto-currencies and it is also the most inflationary and volatile. During this time, miners are putting downward pressure on the price because inflation of a currency implies a lower value and therefore the first to sell may realize the best short term gains. This force is directly opposed by those who believe in the future potential of the currency and are willing to buy or hold at certain prices. The dymanics of this balance change as the mining reward is reduced over time at a rate specified by the currency itself.

Cryptogenic Bullion is unlike many other crypto-currencies in that its initial inflationary period was configured to taper off to its long-term inflationary rate within one year of its initial deployment. It is quickly approaching this point, meaning that CGB is currently beginning the next phase of its life cycle. It is currently the only second generation crypto-currency in the position to attract investment based on its ability to store wealth without losing a significant portion to inflation. We are further encouraged to hold it by the 1.5% interest rate earned on savings. The future supply of CGB is very well known and stable which is one less potential negative that an investor has to worry about when assessing the value of CGB.

As more people learn about the utility of Cryptogenic Bullion, rising demand will come from community members who are interested in either storing wealth, or investing to profit from such demand. Our advertisement and education efforts are what will bring this change about. This new phase which leaves volatile inflation behind can be called the capitalization phase. During this phase of the CGB’s lifecycle there will be many opportunities for skilled investors to provide liquidity where the price rises too quickly, and to provide demand when a low price does not correctly reflect its potential. The fundamental shift that drives this capitalization will be a demand for real assets like productive land, precious metals, commodities and those crypto-currencies which represent an honest and fair medium of exchange and wealth storage on which to create a new economy and new financial industry. A reliable store of wealth is a necessary part of a healthy crypto-ecosystem and we will see the demand rise as markets shift from the legacy debt-based economy to a fair and open economy enabled by these new technologies.

As Cryptogenic Bullion continues to mature, trust is built amongst the community attracting the attention of larger holders of capital. This general progression may go from hobbyists, miners, and small investors, to small business, large businesses, multinational corporations, financial institutions, and sovereign entities. There are no distinct lines that are crossed but each group influences aggregate demand throughout the capitalization phase. Investors may provide buying support anticipation of each new level of use and trust, while providing liquidity as the new demand is realized. This process helps to stabilize the overall price trajectory as capitalization continues through a changing demand profile. The greater the trust in Cryptogenic Bullion’s ability to store wealth, the more stable its value measured against other commodities becomes. The capitalization phase will eventually give way to the long term store of wealth phase in which Cryptogenic Bullion may gain recognition as a safe haven asset.

[Majormax]

Price worries:

IMO it is not simply one factor. There are hundreds of viable coins, and dozens of really good ones. I have analyzed and traded around 100 digital currencies since April 2013. Most communties voice the same concerns 'why is the price falling, when we are implementing such good projects/the idea/function/genetics of the coin are so good ?'

The key to understanding this is to use/trade/compare and discuss every coin, to compare all their attributes, then you can see what affects price in the long term.


My own tip :   If CBG had Coin Control in the wallet, and a higher % stake (like 20% +) , the demand for it would be a lot higher now.

Far be it for me to tell the community how to proceed:  I understand that long term planning is the idea here, so short term price weakness will need to be tolerated for some time. The problem is, if a coin doesn't get enough attention at the right stage, it is consigned to the also-rans of the digital world, with plenty of newcomers trampling on its head to climb up the ladder.

[papersheepdog]

Price worries:

IMO it is not simply one factor. There are hundreds of viable coins, and dozens of really good ones. I have analyzed and traded around 100 digital currencies since April 2013. Most communties voice the same concerns 'why is the price falling, when we are implementing such good projects/the idea/function/genetics of the coin are so good ?'

The key to understanding this is to use/trade/compare and discuss every coin, to compare all their attributes, then you can see what affects price in the long term.


My own tip :   If CBG had Coin Control in the wallet, and a higher % stake (like 20% +) , the demand for it would be a lot higher now.

Far be it for me to tell the community how to proceed:  I understand that long term planning is the idea here, so short term price weakness will need to be tolerated for some time. The problem is, if a coin doesn't get enough attention at the right stage, it is consigned to the also-rans of the digital world, with plenty of newcomers trampling on its head to climb up the ladder.

Your insight is very appreciated Majormax. I agree that the feature set for the wallet software is very important, and it is one of our highest concerns at the moment. We need to bring the CGB look and feel up to the latest standards. Fundamentally it should have little impact, but sometimes you need to flash some colors to attract the capital . I wish it was as simple as increasing stake, but you have to take from one to give to another, and we need to remain predictable for investors.

Absolutely right on getting attention at the right moments. We feel that we are at a critical time for CGB to really get its message out. We have had so much momentum built and with our BDay coming up, its the perfect opportunity to say hello to CGB 2.0. We will be drawing in plenty of interest through projects like CryptoTown On The Ground, "offline," and targeted marketing, giveaways, and further exploration of what exactly CGB's role is in the new economy.

[Majormax]

Price worries:

IMO it is not simply one factor. There are hundreds of viable coins, and dozens of really good ones. I have analyzed and traded around 100 digital currencies since April 2013. Most communties voice the same concerns 'why is the price falling, when we are implementing such good projects/the idea/function/genetics of the coin are so good ?'

The key to understanding this is to use/trade/compare and discuss every coin, to compare all their attributes, then you can see what affects price in the long term.


My own tip :   If CBG had Coin Control in the wallet, and a higher % stake (like 20% +) , the demand for it would be a lot higher now.

Far be it for me to tell the community how to proceed:  I understand that long term planning is the idea here, so short term price weakness will need to be tolerated for some time. The problem is, if a coin doesn't get enough attention at the right stage, it is consigned to the also-rans of the digital world, with plenty of newcomers trampling on its head to climb up the ladder.

Your insight is very appreciated Majormax. I agree that the feature set for the wallet software is very important, and it is one of our highest concerns at the moment. We need to bring the CGB look and feel up to the latest standards. Fundamentally it should have little impact, but sometimes you need to flash some colors to attract the capital . I wish it was as simple as increasing stake, but you have to take from one to give to another, and we need to remain predictable for investors.

Absolutely right on getting attention at the right moments. We feel that we are at a critical time for CGB to really get its message out. We have had so much momentum built and with our BDay coming up, its the perfect opportunity to say hello to CGB 2.0. We will be drawing in plenty of interest through projects like CryptoTown On The Ground, "offline," and targeted marketing, giveaways, and further exploration of what exactly CGB's role is in the new economy.

You have a good grasp of the big picture. I realise there are competing and conflicting tactics and strategies. Coins in differing stages of their life need different promotion tactics, and indeed, different genetics, if that were possible.

Predictability and stability is fine in theory, but IMO that carries greater weight at a later stage. If you study the older coins that managed a strong revival, you will see that it was the ones that underwent a significant fundamental reinvention (and therefore change in structure, with all the attendant community discort and argument) which managed it best.

Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.

I am not predicting anything (anyone who says they can is likely to be deluded), just freely giving of my own experience FWIW.

Coin Control in the wallet can be implemented in a straightforward manner (no hard fork needed). Most good PoS coins have it as a matter of course.