papersheepdog
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June 04, 2014, 03:18:08 AM |
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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 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . 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. Majormax, this is very insightful. I think that CGB has been tracing along its vision. This is part of what attracted me to CGB was that it was made to act like gold or silver as well as a cryptocurrency could. It's a great premise but the details we're not widely known as to how this is so and why does it matter at all. Even though we have made great progress, and continue to build momentum, it might not constitute a "reinvention." Stay tuned for this week's update. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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mullakuz
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June 04, 2014, 10:15:58 AM |
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Evening Gents,
Names Richard.
I have been meaning to introduce myself earlier however I have been flat out recently travelling for work.
Relatively new to Bitcointalk however I have spent a lot of time in the crypto space (2010 onward). I recently sold 1 BTC over Ebay using Paypal with a successful transaction of BTC priced at 800 AUD.
Apart from speculating over the many cryptos and trying to find the best investment, I am also keen on real world use. I have engaged in numerous conversations with IMZ (sorry I haven't called, been busy) which has really has opened my perspective to the type of people already in the crypto-sphere (P&Ds, Scam Devs, whales) and the future community of crypto personnel (Some people still ask me what a Bitcoin is)
It is my endeavour to introduce trustworthy cryptos to newcomers which has been a challenge, but to have the future community fall into the hands of the dark side to crypto simply isn't fair.
Im a relatively young bloke. I claim to be pretty level headed - I have a no.2 haircut. (I don't know if that was worth the pun)
Heavily involved in social media (twitter, facebook etc) and currently running the only Twitter account for Bottlecaps (CAP).
Anyway, I will try catch up with whats going on in CGB and see if I can assist in any way possible.
Cheers.
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I spend a lot of my time doing what is perceived as nothing.
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elambert (OP)
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June 04, 2014, 01:31:01 PM |
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Evening Gents,
Names Richard.
I have been meaning to introduce myself earlier however I have been flat out recently travelling for work.
Relatively new to Bitcointalk however I have spent a lot of time in the crypto space (2010 onward). I recently sold 1 BTC over Ebay using Paypal with a successful transaction of BTC priced at 800 AUD.
Apart from speculating over the many cryptos and trying to find the best investment, I am also keen on real world use. I have engaged in numerous conversations with IMZ (sorry I haven't called, been busy) which has really has opened my perspective to the type of people already in the crypto-sphere (P&Ds, Scam Devs, whales) and the future community of crypto personnel (Some people still ask me what a Bitcoin is)
It is my endeavour to introduce trustworthy cryptos to newcomers which has been a challenge, but to have the future community fall into the hands of the dark side to crypto simply isn't fair.
Im a relatively young bloke. I claim to be pretty level headed - I have a no.2 haircut. (I don't know if that was worth the pun)
Heavily involved in social media (twitter, facebook etc) and currently running the only Twitter account for Bottlecaps (CAP).
Anyway, I will try catch up with whats going on in CGB and see if I can assist in any way possible.
Cheers.
Welcome Richard! Glad to have you!
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elambert (OP)
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June 04, 2014, 02:15:37 PM |
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kelsey
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June 04, 2014, 02:30:57 PM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late.
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 04, 2014, 03:27:49 PM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly..
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dokdocoin
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June 04, 2014, 06:12:04 PM |
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hi all~ Mark Blair just introduced CGB to me. I'm the only altcoin developer living in South Korea(till now..) and always have interest in altcoins ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I just downloaded windows wallet and wanna get more info thanks ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 04, 2014, 06:49:27 PM |
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hi all~ Mark Blair just introduced CGB to me. I'm the only altcoin developer living in South Korea(till now..) and always have interest in altcoins ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I just downloaded windows wallet and wanna get more info thanks ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Hey Dokdocoin, welcome! It's great to hear from other countries and projects. I hope you find our work to be interesting. If you have questions, feel free to ask ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) .
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patmast3r
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 04, 2014, 06:50:44 PM |
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hi all~ Mark Blair just introduced CGB to me. I'm the only altcoin developer living in South Korea(till now..) and always have interest in altcoins ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I just downloaded windows wallet and wanna get more info thanks ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) 2 questions... 1 How you you know you're the only one ? 2 May I ask what altcoin ? Is it out yet ?
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 04, 2014, 06:58:08 PM Last edit: June 04, 2014, 07:20:04 PM by papersheepdog |
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CGB Core Team Weekly Update - June 4, 2014Please also see the Reddit post for further discussion.It seems that the altcoin world is really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. For CGB, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Up until this point, CGB has been tracing along its original vision, and will continue to justify the demand for an asset made to act like gold or silver as well as a cryptocurrency could. This is a great premise for a currency, but the details are still not widely known as to how this is so and why it matters. As we continue toward our educational objectives, we are also undertaking a major course change for the CGB community which aims to create real world value for not only CGB, but all deserving cryptocurrencies. Before we continue with the details, one matter needs to be discussed. Our lead developer, Tash (Artiface), has recently been overwhelmed with a personal family emergency and has asked us to help scale back his responsibilities for the time being. This puts the release date of the next client into an uncertain position. We are dealing with this in stride and firmly accept that part of our overall strategy will be to attract a more diverse and robust selection of talent on the CGB Core Team. Efforts to this end have already been undertaken, but it will be a process we hope to accelerate through the execution of the strategy outlined in this update. It is clear that we need to realign CGB to the realities we face, in order to drive the investment of capital, skill, and time by those interested in advancing cryptocurrency adoption, in addition to CGB's potential itself. With the momentum built up, and a trail of success to look back on, we are better able to look forward to what this new course for CGB should be. We have established that the Cryptogenic Bullion community is happy to support more open and welcoming projects which encourage cooperation and effort spent towards common goals, not specifically to the benefit of CGB, but to all. This has allowed us to think really big and generate concrete ideas which may likely gain the attention of the entire cryptosphere. CGB is becoming a nexus for taking cryptocurrencies out into the streets, into the businesses, amongst neighbors, hidden away in offline wallets occupying vaults and safes, or hidden in the smallest imaginable space, perhaps with a microfilm qr code. As we execute and explore real world strategies for cryptocurrency deployment, problems and inefficiencies will be remedied through active development of the suite of tools available for use by the CryptoTown Neighborhoods as part of the CryptoTown On The Ground project. Our intent is to position CGB as a leader in the facilitation of cryptocurrency adoption at businesses with physical establishments. This means that CGB will have to be more than just a currency, it will have to come wrapped in a suite of tools and services which allow it to adapt to any use case. With this relationship under constant development, CGB will become part of the foundation used to build each CryptoTown, as could any cryptocoin project that wishes to participate to such an extent. This vision can only be achieved through a meaningful commitment by talented individuals throughout the cryptosphere and, as we have discussed, through an expansion of the CGB Core Team. There is a very large amount of work to be done and we believe it could optimally be handled by an additional 3 developers. We hope to create a collaborative environment which is even more inclusive than our current structure and a new organizational chart will be developed to this effect to better express the ways in which talented individuals may help out. While we don't expect these positions to be filled immediately, we are appealing to the entire cryptosphere in the hopes of attracting candidates looking to help lead the charge with us. In addition to a CGB-CryptoTown tool developer, we wish to dedicate efforts to GUI and usability amongst our tool suite (with focus on the wallet software). Also, our community has put forth many excellent ideas which have been captured and assessed, but we have lacked the resources required to begin implementation. This includes changes to CGB's core protocol and client software capabilities. We would gladly welcome skilled candidates who are able to work on this or the other areas of development. CGB has been around for a long time as far as cryptocurrencies go. Not only was it created with the professional image in mind, but the management of the project has been quite coherent throughout its deployment. We plan to build on, and leverage this reputation to advance CGB into the "real world" through the CryptoTown On The Ground project, while attracting the talent required to make this vision a reality for CGB. We may expect an amount of volatility in the price action as a new trend channel is formed, but looking at the bigger picture we are building real value and will continue to do so regardless of the day-to-day issues and fluctuations. As always, we will remain open and flexible to any concerns or ideas presented by the community. All comments are especially welcome, The CGB Core Team
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Tyke
Legendary
Online
Activity: 1474
Merit: 1175
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June 04, 2014, 07:22:22 PM |
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Cryptogenic Bullion is in my book called Cryptocurrency "The Alt-ernative". Here is first draft of IFC: https://bitcointalk.org/index.php?topic=356065.msg7131241#msg7131241Cryptogenic Bullion will look similar to this. Coin specifications, history, exchanges and other miscellaneous details will be included. Please help fund the publication of this book which I plan to publish this summer. 5aagzgPLH9J5nR5KWaizLzdQENcmEVaJVZ ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi62.tinypic.com%2F166g4co.jpg&t=665&c=4rEH4lcA2FWVnQ) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi59.tinypic.com%2F14oacgh.jpg&t=665&c=I4y2rHoIPP-uXA)
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Majormax
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June 05, 2014, 12:09:27 AM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly.. Coin original supply is one thing of course, but the opportunity for new entrants to acquire holdings introduces new blood and ideas. Revival is difficult without that. A higher % stake is a good way to reward existing holders. There also needs to be a cheap plentiful supply on the market for a while. Time , and price, will tell which are the dominant features in a CryptoCurrency. There are an immense number of competing coins, and most communities have their own good ideas, but they cannot all win (in fact I would say very few can be winners). Most coins are for 'Investors' because there are very few real payment applications.
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IMZ
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June 05, 2014, 12:51:39 AM |
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Coinmarkecap, ten minutes ago -- shit!! better score some yacoin!
1 Yacoin $ 247,599,098,664 $ 0.010699 23,141,537,098,043 YAC $ 2,625 +107.12 % 2 Bitcoin $ 8,253,392,940 $ 641.94 12,857,025 BTC $ 37,707,282 -2.89 % 3 Litecoin $ 319,425,329 $ 11.02 28,992,504 LTC $ 4,065,819 -3.69 % 4 Nxt $ 75,359,537 $ 0.075360 999,997,096 NXT* $ 678,830 +10.53 %
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 05, 2014, 01:01:44 AM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly.. Coin original supply is one thing of course, but the opportunity for new entrants to acquire holdings introduces new blood and ideas. Revival is difficult without that. A higher % stake is a good way to reward existing holders. There also needs to be a cheap plentiful supply on the market for a while. Time , and price, will tell which are the dominant features in a CryptoCurrency. There are an immense number of competing coins, and most communities have their own good ideas, but they cannot all win (in fact I would say very few can be winners). Most coins are for 'Investors' because there are very few real payment applications. You hit the nail right on the head of why new coins seem to attract all of the attention: because this is perceived as the only real way to invest and make money (get in early and get out). However, some day, every coin's mining phase comes to an end. This coin happens to be one of the first coins to have such a relatively short monetary base expansion stage (1 year). This is something we simply have to roll with for a few good reasons. We can say that there are basically 1 million CGB out there and that's pretty much how its going to be (save for 2% inflation). This helps us to easily contrast the known, limited supply, with the current price of 25 cents (USD) each. If we are looking for cheap plentiful supply, we need look no further than the market. The next reason, I have not gone into a lot of detail about. I want to start by saying how much I appreciate your participation and the opportunity for me to even explore and convey this. It can be said that the development team is really a piece of centralization on top of the currency protocol itself. This is something that the actual users of the currency, including miners, can defend against, if necessary, by rejecting a client update and forking the network to have the majority unchanged and the "new" chain a failure. The danger for most cryptocurencies is one that we can see already as a problem in most communities. The users trust the dev team to make these knee jerk, radical actions to problems, and they are all too caught up in the moment and or unable to actually comprehend the effect of the changed being made, and so allow the change to take hold on the network (by upgrading) even though it can be fundamentally flawed in the long run. While the above paints a picture, consider it a backdrop for this next possibility. Let's say that, in the future, when adoption is much more mainstream, central banks wish to talk about how intangible, meaningless, and unsound cryptocurrencies are. One of the worst attacks that could be made against CGB would be that it does not really have a limited supply, that the developers can decide to jack the inflation and pump out more coins at any time. If we did it once, we can do it again. This is the really uneasy feeling that I get whenever it is suggested. Moreover, if we engage in "quantitative easing," we will likely just be "kicking the can down the road." While this can of course attract the false economy of the pump and dump scene (which includes of course honest investors), once it is over, we will be right back at this conversation. BTW, I think you are referencing the slogan (the Investor's Crypto) about all cryptos being for investors. I tend to agree, it might even be putting people off who get that sentiment. We are actually making some progress on this front and will likely need something fresh. Again thanks for the input, looking forward to more discussion. papersheepdog, Canada
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 05, 2014, 01:05:53 AM |
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Coinmarkecap, ten minutes ago -- shit!! better score some yacoin!
1 Yacoin $ 247,599,098,664 $ 0.010699 23,141,537,098,043 YAC $ 2,625 +107.12 % 2 Bitcoin $ 8,253,392,940 $ 641.94 12,857,025 BTC $ 37,707,282 -2.89 % 3 Litecoin $ 319,425,329 $ 11.02 28,992,504 LTC $ 4,065,819 -3.69 % 4 Nxt $ 75,359,537 $ 0.075360 999,997,096 NXT* $ 678,830 +10.53 %
Lol, I see that too. Don't buy at the top!!!! Haha, just kidding, of course its a glitch ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) papersheepdog, Canada (trying out your sig thing seeing how it goes maybe)
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kelsey
Legendary
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Activity: 1876
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June 05, 2014, 01:31:51 AM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly.. Coin original supply is one thing of course, but the opportunity for new entrants to acquire holdings introduces new blood and ideas. Revival is difficult without that. A higher % stake is a good way to reward existing holders. There also needs to be a cheap plentiful supply on the market for a while. Time , and price, will tell which are the dominant features in a CryptoCurrency. There are an immense number of competing coins, and most communities have their own good ideas, but they cannot all win (in fact I would say very few can be winners). Most coins are for 'Investors' because there are very few real payment applications. higher % stake does not reward existing holders at all (creates dilution which decreases each units price), it actually screws over everyone who bought in because of rarity (ie knowing the market cap would stay under 1 mil). instantly evaporating any trust. yes coins do it in panic mode as a bandaid approach to save a coin, but only those who either directly want to bail or honest people with very little real understanding of economics, market dynamics and/or the trustless system btc introduced.
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digit
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June 05, 2014, 02:37:20 AM |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly.. Coin original supply is one thing of course, but the opportunity for new entrants to acquire holdings introduces new blood and ideas. Revival is difficult without that. A higher % stake is a good way to reward existing holders. There also needs to be a cheap plentiful supply on the market for a while. Time , and price, will tell which are the dominant features in a CryptoCurrency. There are an immense number of competing coins, and most communities have their own good ideas, but they cannot all win (in fact I would say very few can be winners). Most coins are for 'Investors' because there are very few real payment applications. higher % stake does not reward existing holders at all (creates dilution which decreases each units price), it actually screws over everyone who bought in because of rarity (ie knowing the market cap would stay under 1 mil). instantly evaporating any trust. yes coins do it in panic mode as a bandaid approach to save a coin, but only those who either directly want to bail or honest people with very little real understanding of economics, market dynamics and/or the trustless system btc introduced. +1 Only reason i'm holding CGB is because of rarity and low interest, it would not make sense otherwise. I've been into CGB since the early days and have seen it at a wide range of prices and most of what i'm holding has been bought from 120k and under, bulk of it i withdrew and kept in my wallet. I was able to pick another 200 from recent dumps and i'm sending most of this to my wallet as well for long term holding and staking.
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papersheepdog
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 05, 2014, 03:18:23 AM Last edit: June 05, 2014, 01:41:39 PM by papersheepdog |
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Sadly, the currencies which stuck to their original plans, apart from a tiny handful, just withered away.
The flip side is any divergence from the original plan that alters the total coin supply or the rate in which coins are distributed, defeats the whole trust less system, this is lost on so many panic change quickly or die mentality of the old school coins of late. I think we are all (altcoins) really grinding through a tough patch as Bitcoin recovers from the recent hostile positions taken against it by government and big business alike. I bet there is a lot of soul searching going on out there. I know what you mean by the panic driven change, and have taken many opportunities in the past to present a calm and rational view. For us, it is a bit of a unique situation. Very few coins have had to deal with the turbulence of moving beyond the mining phase, which seems to attract all of the attention. We now have to forge ahead and create value in ways other than mining focused speculation. Details to follow shortly.. Coin original supply is one thing of course, but the opportunity for new entrants to acquire holdings introduces new blood and ideas. Revival is difficult without that. A higher % stake is a good way to reward existing holders. There also needs to be a cheap plentiful supply on the market for a while. Time , and price, will tell which are the dominant features in a CryptoCurrency. There are an immense number of competing coins, and most communities have their own good ideas, but they cannot all win (in fact I would say very few can be winners). Most coins are for 'Investors' because there are very few real payment applications. higher % stake does not reward existing holders at all (creates dilution which decreases each units price), it actually screws over everyone who bought in because of rarity (ie knowing the market cap would stay under 1 mil). instantly evaporating any trust. yes coins do it in panic mode as a bandaid approach to save a coin, but only those who either directly want to bail or honest people with very little real understanding of economics, market dynamics and/or the trustless system btc introduced. +1 Only reason i'm holding CGB is because of rarity and low interest, it would not make sense otherwise. I've been into CGB since the early days and have seen it at a wide range of prices and most of what i'm holding has been bought from 120k and under, bulk of it i withdrew and kept in my wallet. I was able to pick another 200 from recent dumps and i'm sending most of this to my wallet as well for long term holding and staking. Hey digit, thanks for the input! Love stackin' Kelsey you have come across an interesting point in this discussion. Who does higher stake% reward? How will it attract attention, investment, value, etc? In fact, a higher stake% does reward holders, and not in a nice way in my opinion. Lets say we bump it to 20%. Who gets this? Current holders of CGB. We can show that the minter who sells their earnings first, reaps the highest return. The one who decides to sell last is hitting a more flooded market with less return. This is the exact same dynamic that would be seen in a pure Proof of Work crypto. This is why creation of new coins quickly puts a downward pressure on the price. Of course this pressure can be balanced by other factors but it will express itself nonetheless. Ah, finally found this fairly relevant quote in an article I wrote back in February called Entrenched Interests, Lost Direction, and Stagnation in the Crypto-Currency Markets (caution, red pill lol ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) ): Let’s explore the psychology of the miner and the investor. The miner wants to create a new coin with high initial reward so they can reap it all and sell for a quick buck. The investor sees this activity as a ponzi type scheme where new capital must flow to match the mining dump just to prevent the unit price from collapsing. If a currency is just beginning, it's hardly worth putting any capital in at all. Doing the math and you will see that your investment is inflating away at an alarming rate while the miners dump for profit. Some people think that miners will hold on to valuable new coins but this is not true because mining implies a lower value of each new coin and the first miner to sell realizes the highest price. A miner who waits is hoping that boatloads of cash come sailing in from somewhere. Smart investors don't want to touch that unless it’s a truly revolutionary crypto-currency which would bring such a cash flow. papersheepdog, Canada
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IMZ
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June 05, 2014, 05:01:11 AM |
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Patmast3r! The coin is the Dokdo (and they have just finished this second changing horses in mid-stream, from 'DDC' coin to 'Dokdo' coin). The only place in the world where you can buy this coin in English is on IndiaMikeZulu's micro bourse at http://indiamikezulu.com.au/159/dokdo-coin-community-exchange/The English-speaking community hangs out here: https://cryptocointalk.com/topic/6872-dokdocoin-dokdo-information/The project has been time-consuming, clumsy and unprofitable. Wonderful!! Once again, our crazy idea of Putting Down Deep Roots is paying off. The devs of this coin are remarkable: painstaking and polite. I reckon they would make fine fellow travellers: the CGB Consultancy could connect Dokdo to the world, and vice versa. Mark Blair, Australia CGB: a coin just like your mum used to make
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