Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published

[FiniteRed]

CBX has a terrible distribution of wealth with the top 10 addresses owning over half of all coins in existence.

One solution that might work at a network level would be to reclaim those coins in a fork and evenly distribute them over all CBX addresses below the top 250 richest addresses on the chain.

This however fly's in the face of the very immutability of the block chain and to be honest I am very much against this course of action for any currency stolen or otherwise - not to mention the receiver of Cryptsy has legally purchased and above effectively amounts to theft.

I have been away for a while now, but watching from a shady corner - what has being going on with CBX recently? We have moved from an deflationary model to an inflationary model, the chains hash rate has fallen to minimal levels, we have lost the majority of our market cap and there has been very little in the way of comms updates and new software releases from the Devs apart from some sort of IPO for another coin all together?

Bitcoin is almost back to 1000USD and I feel CBX needs to get back to its roots, work on more evenly distributing the wealth on the chain, get more exchanges on board and fully concentrate on the fact that it's a rare commodity and NOT a currency - less it fall on the mountainous heap that is the pile of deal block-chain currencies out there already.

FR

[Majormax]

If you can strike a deal with the receiver then all well and good, but most likely scenario is these 124k coins will crash CBX into oblivion. That's the issue, whoever buys those coins on the cheap can dump anytime, so who would buy at market prices today? If you buy cheap then you become the dumping whale of 2017, just when the dumping whale of 2016 emptied his bags. This is an existential crisis, 124k coins dumped cheaply kills CBX, so lets avoid death.

It seems the real problem is that there are no willing buyers. The market price is what somebody is willing to pay.

Maybe the best alternative is for the 124k CBX to be added to the offer side of Cryptopia, and left there : at least it will then be out in the open. There is a fair chance that someone might wish to take a stake at some point.

[m33]

http://cryptsyreceivership.com/v1/wp-content/uploads/2016/06/Receivers-Motion-for-Authorizing-to-Liquidate-Certain-Cryptocurrencies-Secured-by-the-Receiver.pdf -- Section E interests us.

Does anyone have any more recent information at all?

'The 124,000 CBX have never been stolen. They were CLAIMED by the Cryptsy receiver to distribute it's value to victims of other coins theft.' BTCat, post above

This is pretty much what I understand from Falling Knife is the case.

Well the day crapsy walked out the door with the data , and stop real owners from gaining access to the coins , it was stolen for me , I lost 400$ only.

Next , there is another Ico right , can we do a group buy for the 124k and use it to fund the Ico for sparks ??

[CryptoSporidium]

If you can strike a deal with the receiver then all well and good, but most likely scenario is these 124k coins will crash CBX into oblivion. That's the issue, whoever buys those coins on the cheap can dump anytime, so who would buy at market prices today? If you buy cheap then you become the dumping whale of 2017, just when the dumping whale of 2016 emptied his bags. This is an existential crisis, 124k coins dumped cheaply kills CBX, so lets avoid death.

It seems the real problem is that there are no willing buyers. The market price is what somebody is willing to pay.

Maybe the best alternative is for the 124k CBX to be added to the offer side of Cryptopia, and left there : at least it will then be out in the open. There is a fair chance that someone might wish to take a stake at some point.

I'm not against doing that, I just think it's highly likely that amount of downward pressure would kill all remaining community interest. Like most here, I'm following +30 projects, and each one competes for my finite resorces of attention. There's nothing special about CBX that guarantees its continued existence from here on, its not bitcoin that has billions invested in it by millions of people. CBX has a long and proud history for sure, going back to mid 2013, but these 124k coins can easily kill it, and most of us walk away disappointed, but we still walk away. I'm a CBX supporter, but I'm already under water now, and I wouldn't buy any of these coins at any price. That's why I say the best option is start a new coin minus these toxic 124k coins.

If given a choice between a kick in the balls, and a slap in the face ... I vote for the slap

[Majormax]

If you can strike a deal with the receiver then all well and good, but most likely scenario is these 124k coins will crash CBX into oblivion. That's the issue, whoever buys those coins on the cheap can dump anytime, so who would buy at market prices today? If you buy cheap then you become the dumping whale of 2017, just when the dumping whale of 2016 emptied his bags. This is an existential crisis, 124k coins dumped cheaply kills CBX, so lets avoid death.

It seems the real problem is that there are no willing buyers. The market price is what somebody is willing to pay.

Maybe the best alternative is for the 124k CBX to be added to the offer side of Cryptopia, and left there : at least it will then be out in the open. There is a fair chance that someone might wish to take a stake at some point.

I'm not against doing that, I just think it's highly likely that amount of downward pressure would kill all remaining community interest. Like most here, I'm following +30 projects, and each one competes for my finite resorces of attention. There's nothing special about CBX that guarantees its continued existence from here on, its not bitcoin that has billions invested in it by millions of people. CBX has a long and proud history for sure, going back to mid 2013, but these 124k coins can easily kill it, and most of us walk away disappointed, but we still walk away. I'm a CBX supporter, but I'm already under water now, and I wouldn't buy any of these coins at any price. That's why I say the best option is start a new coin minus these toxic 124k coins.

If given a choice between a kick in the balls, and a slap in the face ... I vote for the slap

Well, thats understandable, and is the usual reason for the death of most alts. If a coin does not have a large number of active community members, supporting with funds as well, plus a number of good active developers, it will not survive.

I committed funds to CBX, but I would be surprised if it does survive beyond the next year. So I guess I won't be buying any more.

As regards market cap, once that gets below the top couple of hundred currencies, only a very big innovation, and a lot of active people can save a crypto currency. I dont think the 124k coins make any difference to that. Having them on offer at a cheap price may have an outside chance of attracting a new active investor with an idea, who wants a big cheap stake in a long established coin.

[cryptobullion.io]

Alex4J has developed a new trouble shooting tool for CBX. This tool includes an automated blockchain bootstrap loader. Download the file, drop it in the folder with your CBXqt.exe and then open and use. Enjoy!
(There are a couple spelling errors that will be fixed asap.)

CBX Trouble Shooting Tool and Auto Bootstrap Loader to eliminate historical blockchain syncing: Trouble Shooting Tool with December 24th 2016 Official Bootstrap

[avariahb]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

[Majormax]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

Yes, that is an idea.

Even better to try and distribute to non-holders, or other developers. Thinking about those who might be active in the community rather than passive holders.

[PikachuYou]

dead shit coin.

what happened to the quitessence crap that was meant to pump CBX?

am guessing it's fucked too....

[avariahb]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

Yes, that is an idea.

Even better to try and distribute to non-holders, or other developers. Thinking about those who might be active in the community rather than passive holders.

To make it simple one can also give 100 cbx to 1200 members of bitcoinalk

[m33]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

Yes, that is an idea.

Even better to try and distribute to non-holders, or other developers. Thinking about those who might be active in the community rather than passive holders.

Giving to ppl who have no real interest, they will dump the coin like a hot potatoes! For btc

[Majormax]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

Yes, that is an idea.

Even better to try and distribute to non-holders, or other developers. Thinking about those who might be active in the community rather than passive holders.

Giving to ppl who have no real interest, they will dump the coin like a hot potatoes! For btc

Then maybe my first thought is correct. Dump onto exchange at a very low price . First take out every bid, then put a wall in at a low level.

If the coin is dead anyway, kill the price quickly, then see if there are any takers. Make a very low base, then the only way is up.  Trying to support price always leads to a slow decline (applies to all commodities)

[m33]

I agree with Majormax The problem of cbx is the lack of active user.
A solution could be to distribute the 124k for free.
Not to favor whales.
Distribute fairly 10,000 CBX per month for one year to all those who win at least one block in staking.

Automated blockchain bootstrap loader very good idea for newbie. thanks alex

Yes, that is an idea.

Even better to try and distribute to non-holders, or other developers. Thinking about those who might be active in the community rather than passive holders.

Giving to ppl who have no real interest, they will dump the coin like a hot potatoes! For btc

Then maybe my first thought is correct. Dump onto exchange at a very low price . First take out every bid, then put a wall in at a low level.

If the coin is dead anyway, kill the price quickly, then see if there are any takers. Make a very low base, then the only way is up.  Trying to support price always leads to a slow decline (applies to all commodities)

Problem is if other holders unaware will sell In panic . For this to work all current holder must be agree to hold and put up wall at a agreed price , but if that wall is gone all will break losse ..

[Majormax]

Problem is if other holders unaware will sell In panic . For this to work all current holder must be agree to hold and put up wall at a agreed price , but if that wall is gone all will break losse ..

CBX is dead anyway. Nobody can sell , because there will be no bid.

[CryptoSporidium]

Problem is if other holders unaware will sell In panic . For this to work all current holder must be agree to hold and put up wall at a agreed price , but if that wall is gone all will break losse ..

CBX is dead anyway. Nobody can sell , because there will be no bid.

CBX² can still be very much alive though, detaching from the toxic 124k coins is the only way to move forward with optimism

We should start riffing for a new name, get our spirits up for New Year!

Digital Bullion
cBullion

[avariahb]

Happy new year 2017 for cbx. better than 2017 

[VonSpass]

It seems the real problem is that there are no willing buyers. The market price is what somebody is willing to pay.

Quite a positive discussion, on this first day of 2017! Unfortunately this comes a bit late, but who knows, maybe we can save CBX if people still want it.

The problem with many cryptos (including CBX) is people are in it for a quick (and small) gain. If we stuck together with ONE cryptocurrency, we could each of us earn a life changing value of currency, and create a great crypto network that can change the altcoin landscape: keeping in mind CBX was never meant to replace BTC, it was meant to complement it with a valuable, scarce and interest-earning commodity.

Again, CBX's 2% inflation is low and healthy - we need an enticing way to pay for secure blockchain maintenance in some way - and transaction fees are not enough, so this low inflation profile is necessary.

During 2016 I have been trying hard, with many creative solutions, to bring back CBX to the place it deserves (among the 15 greatest coins), because I believe that Smart action is better than inaction. Some people would rather just say "we are great - we don't need to do anything." - but my position has always been otherwise, and what is happening to other coins with that inaction philosophy is proving me right.

Another reason why people (or altcoins) do not succeed is everyone wants to try his little thing in his little corner, rather than use community leverage and join a small and promising coin with great fundamentals (like CBX) so we can be strong together.  You can't believe how strong a committed and dedicated community can be! Rather, people spread their money and efforts thin across many coins and don't commit themselves to a very large (life changing) gain. Most people are in for a small gain with no commitment. Commitment is key to success, in anything you do. Commitment is painless and fun - and I can't do it alone.

Mind you, we can still save CBX, but it's not going to be easy:

1) A deal with the Cryptsy CBX receiver has to be struck, - either that, or we create a new Digital Bullion with these CBX gone.

2) the CBX whales who have been selling CBX and stubbornly maintaining it below 60 000 satoshis have to come forward and, perhaps privately, start a discussion with us (if not, well, be prepared to lose everything, whales)

3) the rest of us, CBX fans, have to stick together, maintain some volume, don't create selling walls. Contribute to this forum (more than 1x per month!).

If we can't meet these difficult conditions, well, CBX will not survive I'm afraid.

[CryptoSporidium]

It seems the real problem is that there are no willing buyers. The market price is what somebody is willing to pay.

Quite a positive discussion, on this first day of 2017! Unfortunately this comes a bit late, but who knows, maybe we can save CBX if people still want it.

The problem with many cryptos (including CBX) is people are in it for a quick (and small) gain. If we stuck together with ONE cryptocurrency, we could each of us earn a life changing amount of money, and create a great crypto network that can change the altcoin landscape: CBX was never meant to replace BTC, it was meant to complement it with a valuable, scarce and interest-earning commodity.

Again, CBX's 2% inflation is low and healthy - we need an enticing way to pay for secure blockchain maintenance in some way - and transaction fees are not enough, so this low inflation profile is necessary.

During 2016 I have been trying hard, with many creative solutions, to bring back CBX to the place it deserves (among the 15 greatest coins), because I believe that Smart action is better than inaction. Some people would rather just say "we are great - we don't need to do anything." - but my position has always been otherwise, and what is happening to other coins with that inaction philosophy is proving me right.

Another reason why people (or altcoins) do not succeed is everyone wants to try his little thing in his little corner, rather than use community leverage and join a small and promising coin with great fundamentals (like CBX) so we can be strong together.  You can't believe how strong a committed and dedicated community can be! Rather, people spread their money and efforts thin across many coins and don't commit themselves to a very large (life changing) gain. Most people are in for a small gain with no commitment. Commitment is key to success, in anything you do. Commitment is painless and fun - and I can't do it alone.

Mind you, we can still save CBX, but it's not going to be easy:

1) A deal with the Cryptsy CBX receiver has to be struck, - either that, or we create a new Digital Bullion with these CBX gone.

2) the CBX whales who have been selling CBX and stubbornly maintaining it below 60 000 satoshis have to come forward and, perhaps privately, start a discussion with us

3) the rest of us, CBX fans, have to stick together, maintain some volume, don't create selling walls. Contribute to this forum (more than 1x per month!)

If we can't meet these difficult conditions, well, CBX will not survive I'm afraid.

Righteous post man, I agree 100% with your three points!

I'll throw an idea out there ... why not approach the cryptsy receiver and propose that they accept a lessor amount, say as low as 10K CBX, using the argument that 124k coins with zero value is zero, but 10K coins (1%) of a thriving top 20 coin in this next crypto bull market might be worth a lot more to their stakeholders. If they agree the CBX dev team then devise a plan to use the remaining cryptsy coins in a way that grows the community numbers and involvement. Bounties, dead coin buy-ins, competitions etc

We can offer the same 'deal' to the whales, same logic - a big stake in a dead coin is worth nothing, but a smaller stake in a top crypto in 2017 might be life changing.

[cryptohunter]

How can this coin not even be on bittrex?

[VonSpass]

Mind you, we can still save CBX, but it's not going to be easy:

1) A deal with the Cryptsy CBX receiver has to be struck, - either that, or we create a new Digital Bullion with these CBX gone.

2) the CBX whales who have been selling CBX and stubbornly maintaining it below 60 000 satoshis have to come forward and, perhaps privately, start a discussion with us

3) the rest of us, CBX fans, have to stick together, maintain some volume, don't create selling walls. Contribute to this forum (more than 1x per month!)

If we can't meet these difficult conditions, well, CBX will not survive I'm afraid.

Righteous post man, I agree 100% with your three points!

I'll throw an idea out there ... why not approach the cryptsy receiver and propose that they accept a lessor amount, say as low as 10K CBX, using the argument that 124k coins with zero value is zero, but 10K coins (1%) of a thriving top 20 coin in this next crypto bull market might be worth a lot more to their stakeholders. If they agree the CBX dev team then devise a plan to use the remaining cryptsy coins in a way that grows the community numbers and involvement. Bounties, dead coin buy-ins, competitions etc

We can offer the same 'deal' to the whales, same logic - a big stake in a dead coin is worth nothing, but a smaller stake in a top crypto in 2017 might be life changing.

I think a deal with the receiver can be reached, and it won't be that difficult. It is with the whales that we will have a problem, and I won't go through the effort of negociating a deal with the receiver until I hear back from the CBX whales that have been plaguing all our efforts these past 2 years. CBX whales, I am done working for you; we could, however, work together.

As I have been writing for some time, CBX is an early coin and through its "long" history it has accumulated some "whales" who hoped to make a quick buck with it. As an illustration of this problem, at Cryptopia.co.nz right now we can see there are 30 000 CBX sitting on the exchange, ready to form selling walls at any time (usually exactly when some positive momentum develops) - these guys have been real momentum busters, even against their own interest - because that is just how these careless and lazy guys work.

I don't even think that the CBX whales bother to read this Bitcointalk thread, either. Every time I asked for them to come forward, I hear crickets. Nobody answers back - they just turn around to make bigger selling walls.

Like I said, getting CBX out of this mess will not be easy. Funny thing is, pointless coins like DOGE can get the volume we would need to clean them all in just 12 hours, so it's not impossible.