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

[VonSpass]

Well as elambert warned, with the changing of the guards comes market turmoil at Cryptsy. This opportunity won't last forever: one way to play this smartly is to place big bargain priced buying offers, and patiently wait: in the past couple of days with the huge amounts of CBX being sold, many of these low offers have been filled. I still believe what we are doing will make CBX worth a lot more in the future, so I placed a few massive low buy offers myself  .

CBX hasn't changed since 1 week ago, same investor-friendly fundamentals which we are committed to keep; it just seems some large holders suddenly want out a little too fast. It really is a terrible timing for the seller(s) but, oh well, it's their decisiom and we will have more inexpensive CBX for us.

Yes i saw some nice buying orders filled: 1167 CBX@30100 and 1500@25000.

Maybe it will come even lower than this, but i'm happy with doubling my stack right now and didn't want to risk missing that opportunity

Looks like the storm has passed, I suggest a 50/50 approach now where people grab the cheap CBX from the Sell Orders, while maintaining low ball buy offers to catch and benefit from any large dumps; be patient.

[1701366571]

1701366571

[raizor]

Thank you all for the kinds words. I'll still be around, just walking a different path for a while

I'll still be in contact with Elambert etc, as we're friends. Change is never easy, but it's often for the better, even if it doesn't look that way at first glance. I will do what I can to help out in future with CBX, so nothing sad, just different. All the very best to all of you

raizor

[elambert]

Quick status update before the weekend:

raizor should have the interim client ready for us soon - again this will feature in-Vault IRC, translation sets and the naming of the 1/100th denomination as..... BULLS

We have been in contact with a handful of devs and are making progress with finding the right one to carry out PoSP implementation.

Good stuff up ahead guys, enjoy your weekend!

[elambert]

Quick status update before the weekend:

raizor should have the interim client ready for us soon - again this will feature in-Vault IRC, translation sets and the naming of the 1/100th denomination as..... BULLS

We have been in contact with a handful of devs and are making progress with finding the right one to carry out PoSP implementation.

Good stuff up ahead guys, enjoy your weekend!

Raizor has provided the new Vault and we are undergoing internal testing now.

Also, seems that Cryptsy has implemented a clever new money making idea which allows coins to advertise better.

https://www.cryptsy.com/coinsponsors

I have made a small donation to get CBX in the top 4 so we appear as a sponsor. This operates based on 4 coins showing as sponsors based according to which one has donated the most BTC for this service.

Cryptsy's Coin Sponsor program gives the ability for a coin to be spotlighted on Cryptsy. To determine which coins are spotlighted at any given time a bidding process is used. Each coin is given a bitcoin address. Users can send bitcoin to a coins address to move it up the list. The top 4 coins on the bidding list are spotlighted as long as they remain in the top 4.

The balance of the spotlighted coins depreciates. Every 5 minutes 0.00034722 BTC is deducted from the address’s balance. If a coin drops out of the spolight position the deductions stop. For this reason the balance of an address on the blockchain can not be used to determine a coins position on the vote list. The current balance of a coins address will be displayed on the bid list.

[BTCat]

Nice chance to pick up some coins guys.

CBX has gone through the process of attracting a new dev a couple times. It could mean that someone has done his job and had a chance to bring in some of his ideas.
And when he decides to move on or when it's his fate calling, there is a chance for a new approach again even while maintaining the goals set. I think soon enough CBX will attract other talent to move this project forward.

[VonSpass]

Nice chance to pick up some coins guys.

CBX has gone through the process of attracting a new dev a couple times. It could mean that someone has done his job and had a chance to bring in some of his ideas.
And when he decides to move on or when it's his fate calling, there is a chance for a new approach again even while maintaining the goals set. I think soon enough CBX will attract other talent to move this project forward.

Totally agree with you BTCat! We will welcome soon new blood to the CBX equation, I am working hard at this.

Wow what a day at Cryptsy... Someone dumped like 28000CBX before I had a chance to buy any of it; thats 3% of the whole money supply!

Can the people who bought this CBX confirm with me they got some of that dump with a quick PM please, and at what time the transaction occured to confirm this was a real transaction. With this seller out of the way, looks like CBX can move forward now.

[snatchmonkey]

shot you a pm vonspass, i had a couple of orders filled from that dump.

[VonSpass]

OK Bullionaires, I confirm the dump was real, and at the other end there were real buyers who are part of our community that benefited from acquiring some CBX at historically very low prices. I am happy things turned out this way, good game for the buyers who could use this opportunity to increase their stake in our currency.

We had noticed this huge chunk sitting on the sideline a few times, so it is good to see that this 28k is now held in friendly hands; as I said before now we can move forward.

[VonSpass]

Good afternoon, friends and community - just a small thought today:

Although they have said otherwise in the past, exchanges like Cryptsy do not leave money on the table by not staking: they do stake with all the balances of CBX left by their clients in their system! We can prove this. Its bad enough that people aren't gaining the extra CBX they are entitled to receive if they themselves staked, also these exchanges insta-sell all the proceeds from their staking for BTC, thus creating a small daily downward pressure on our currency.

Bottom line: the exchanges are supposed to make money with the transaction fees, and we are perfectly ok with that; but we do not need the additional downward pressure from their staking. I suggest we do not leave CBX at the exchanges unless wanting to make a transaction; it does not help you, it does not help us.

[BTCat]

I didn't think they would stake them and I remember they said to not stake userfunds in the past.

However I find this quote of BitJohn
"This is nothing new. When did Cryptsy ever state we do not stake coins? Some coins we do, others do not stake well."
https://bitcointalk.org/index.php?topic=827629.msg9247493#msg9247493

And on Reddit Mullick wrote the opposite:
"Due to community concerns over the topic we decided it best to not actively stake any funds held on our exchange. Our hot wallet occasionally pops out a block here and there when we go over the reserve balance."
https://www.reddit.com/r/reddCoin/comments/2ehgxb/is_cryptsy_staking_my_coins_is_this_why_all_the/

[VonSpass]

I didn't think they would stake them and I remember they said to not stake userfunds in the past.

However I find this quote of BitJohn
"This is nothing new. When did Cryptsy ever state we do not stake coins? Some coins we do, others do not stake well."
https://bitcointalk.org/index.php?topic=827629.msg9247493#msg9247493

And on Reddit Mullick wrote the opposite:
"Due to community concerns over the topic we decided it best to not actively stake any funds held on our exchange. Our hot wallet occasionally pops out a block here and there when we go over the reserve balance."
https://www.reddit.com/r/reddCoin/comments/2ehgxb/is_cryptsy_staking_my_coins_is_this_why_all_the/

We have proved it and can prove it everyday - they operate with a cold wallet with the biggest balance, and a hot wallet with about 30% of what the customers leave at the exchange: the hot wallet is where the daily withdrawals come from - they do not stake from the hot wallet, and cannot stake because they change the wallet ID and move the whole hot wallet balance at every inflow/outflow of CBX for protection against hacking.

They consistently stake with the cold wallet: this is the one with the largest amount and this one isn't needed for small daily inflows and outflows.  When the hot wallet's balance becomes too low, they reload it by substracting from the cold wallet - and that is the only way we can reduce their harmful staking (and automatic selling). Its not such a big thing, but when you think about it, it amounts to about 1600 CBX of selling pressure yearly. Good thing our inflation is so low, but it would be better to bring this automatic selling down (by withdrawing from the exchange to personal Vaults) or convince them to stop.

[BTCat]

Its not such a big thing, but when you think about it, it amounts to about 1600 CBX of selling pressure yearly. Good thing our inflation is so low, but it would be better to bring this automatic selling down (by withdrawing from the exchange to personal Vaults) or convince them to stop.

Honostly I think it's something to least worry about. 1600 CBX is such a tiny amount that does not have any impact on the market. If CBX can't eat such crumbs then it's not an investors coin. There are enough CBX fans that can easily cover 10 or 20 times as much selling, they will gladly buy them up.

I know the team would like to see the wallet being used more though and if you are technical enough it's great to stake them and earn some extra's.

Personally I don't care if cryptsy stakes coins if I got some there, they have servercosts and in some way are also a partner for CBX. I don't think we have much to complain about being listed there for so long, Cryptsy has been great for us and they helped us grow the community and build recognition since the very first start.

[snatchmonkey]

I generally keep my CBX off the exchange so I can stake, but with the 99 confirms they require for CBX deposits I do sometimes keep some handy to trade with. Any idea why we need to have so many confirms and can we do anything about it?

The Cryptsy hot wallet looks to be a lot smaller than it used to be, a good thing imo as it implies that more people are withdrawing to their vaults. Having said that I'm sure these top 10 wallets look bigger than they used to:

https://coinplorer.com/CGB/Addresses/0/Top

I suspect 2nd place to be Cryptsy also right?

[BTCat]

Still looking for cool suitable non copyright music for our video. Anyone got suggestions?

 The CBX promo video is nearly finished. But, we are still looking for a great soundtrack. If anyone in the community likes to make a suggestion please do. The difficulty is that it must be free of copyrights. For style personally I would like to hear some athmospheric triphop, not too sleepy but also not too much upbeat, it should not distract from the visual content. Ofcourse other suggestions welcome.

[raizor]

Still looking for cool suitable non copyright music for our video. Anyone got suggestions?

 The CBX promo video is nearly finished. But, we are still looking for a great soundtrack. If anyone in the community likes to make a suggestion please do. The difficulty is that it must be free of copyrights. For style personally I would like to hear some athmospheric triphop, not too sleepy but also not too much upbeat, it should not distract from the visual content. Ofcourse other suggestions welcome.

No specific suggestions, but Audio Jungle has some very nice background tunes and they are pretty cheap to purchase.

[elambert]

Hi everyone! I have been away with family for a couple of days on holiday but back and refreshed now!

Couple small updates:
- The new Vault is getting a couple small tweaks and will be ready for public release shortly
- PoSP development discussions continue and we are making progress in this area (we will share more details as possible)
- Android mobile Vault is coming along and should be ready for release soon (iOS will be next)
- As BTCat mentioned - CBX promo video is about complete

Community assistance needed:
- We are still getting spammed over on our forum and could use some assistance with maintenance should anyone be interested in helping out as a moderator
- We would like to boost traffic to the CBX forum and build our community there. I think a giveaway would be beneficial in this effort. If anyone wants to assist with this, please let me know.

Hope everyone is doing well!

[VonSpass]

I generally keep my CBX off the exchange so I can stake, but with the 99 confirms they require for CBX deposits I do sometimes keep some handy to trade with. Any idea why we need to have so many confirms and can we do anything about it?

The Cryptsy hot wallet looks to be a lot smaller than it used to be, a good thing imo as it implies that more people are withdrawing to their vaults. Having said that I'm sure these top 10 wallets look bigger than they used to:

https://coinplorer.com/CGB/Addresses/0/Top

I suspect 2nd place to be Cryptsy also right?

Its whenever I see a Vault with a very big balance ... and just ONE transaction (lol!) ... that makes me think it is the hot wallet.

The fact that the top wallets are slimmer and we see a more democratic spread of CBX money supply is a good thing, a result from the large sales we saw last week-end imo... more people involved more deeply is what CBX needs for its growth.

[elambert]

I generally keep my CBX off the exchange so I can stake, but with the 99 confirms they require for CBX deposits I do sometimes keep some handy to trade with. Any idea why we need to have so many confirms and can we do anything about it?

Cryptsy is having a look at this for us. Will let you know, thanks for the heads-up.

[Agaguk24]

Nice Coin! I like how Crypto Bullion is programmed so I am taking advantage of today's low prices... Only I have a small question about the Vault, if I want to use many adresses.

i created a new address from my CBX wallet, after having enabled the Bullion manage features option. Now before I send coins to this new address - is there a separate password to decrypt the wallet.dat of this new Vault ID
how does this work - I dont see a new wallet.dat file for this new ID being created - do all these adresses fall under the same wallet.dat and same password to decrypt and then, what about staking - does each ID has its own staking thing going?

[IMZ]

Got .1 Btc of CBX the other day. Great price. Too low to last.

Mark