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

[pedrillo0]

what happened to the 're-launch' date that was posted on altcoincalendar?

This is the first I am hearing about that. Can you elaborate please?

We have not planned a re-launch, we have announced our new road-map so perhaps this has confused some people?

Hello Chris!

Hi guys!

I feel the confusion it causes!

Right now I corrected that it is not a relaunch if not an edition and publication of the roap map: https://www.altcoincalendar.info/coins/2552-CBX

Cheers

[1713485467]

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[1713485467]

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[elambert]

What is the timeframe for launch or edit of the new version? I understand this NOT to be a re-launch but an edit, or soft fork, am I correct?

Stage 1 will be a hard fork, promptly followed by stages 2-4. All are scheduled for the remainder of 2017 and date estimates are provided in the road-map published in this thread and in OP for reference. As 2017 winds down we will publish our 2018 road-map.

[Yannic]

Just a noob question  

Is it possible to have 1 addy as masternode and others addy as PoSP in the same wallet and usual functions like send, receive too or it have to be in separate wallet

What is the minimum required time to be considered as BPN masternode and receive a BPN reward 7days, 1month, more ?
Ty

[elambert]

Is it possible to have 1 addy as masternode and others addy as PoSP in the same wallet

Yes

What is the required time to be considered as masternode 7days, 1month, more ?

No time requirement for a BPN, the only requirement will be a set amount of CBX (not yet decided)

[FiniteByDesign]

Hello,
Just a little message to say that the new code base in good way.
I am working on implementing CBX rule on new code base so it accept the old blockchain.
When the new code base will be fully implemented, the masternode will be also possible and done.
There is still few parameters to adjust and adapt, but we are progressing really well.

Awesome news, glad work is progressing on schedule! Thanks for the update, please keep us posted!

[mrphuong]

How much time do I need to open my wallet?

[elambert]

How much time do I need to open my wallet?

Your coins become eligible to stake after 1 hour. This does not mean you will get a block after 1 hour, just that you will enter into the queue to compete for PoS blocks after that hour. The frequency of block rewards will be largely based off of the amount of CBX you have but overall you will get rewarded based off the network competition. The network currently is rewarding 15% annual interest on your coins.

[weakhand]

Hi there

couldn't quite see how to vote in poll.  1000 please... thanks!  10k is 1% of chain seems way over the top for punters.  fine for dev fund...

Thanks & best wishes

[Cbx.Bet]

Hi there

couldn't quite see how to vote in poll.

When you would have posted 30 messages

[weakhand]

ah ok thanks... will have to stop lurking and post more!

[elambert]

In writing the white paper for the BPN implementation, I have been back and forth with the team regarding the current voting poll (cost for a BPN). Yes, a BPN should be an investment and the earning potential will justify the investment, however this is not the only consideration. I bring this point up because the 2k CBX option is presently leading.

The issue I have with this is that in order for us to maintain PoSP and implement BPN, we must split the network coins so we can allow different interest earnings percentages for each function (BPNs should earn more as they provide more services to the network).

Essentially this means splitting the 1 million total CBX into halves of 500k CBX each. One half would be used for PoSP at 1% annual inflation (interest earnings projected from this would be in the 3-6% annual range). The other half for BPN would be at 3% annual inflation so the two would balance out to our 2% inflationary target.

Additionally to make BPN operation more lucrative, we will limit the total number of BPNs to max out at 250k CBX (1/4 of the network). This means that if all of the BPN slots are filled, the absolute minimum interest earnings would be 6% per year. Going off of our PoSP history, we can extrapolate that the return will actually be 3-6 times higher than the inflationary rate from the BPN half therefore rewarding in the projected range of 9-18% yearly for BPN operators.

So with this outlined we come back to the current survey. If we set a BPN cost at 2k CBX, then the maximum number of nodes we can have on the network would be 125. If however we set BPN cost at 500 CBX, then we can have a maximum of 500 BPN on the network and better decentralization.

Feel free to provide any input you want heard from the team regarding this subject.

[cryptohunter]

In writing the white paper for the BPN implementation, I have been back and forth regarding the current voting poll (cost for a BPN). Yes, a BPN should be an investment and the earning potential will justify the investment, however this is not the only consideration. I bring this point up because the 2k CBX option is presently leading.

The issue I have with this is that in order for us to maintain PoSP and implement BPN, we must split the network coins so we can allow different interest earnings percentages for each function (BPNs should earn more as they provide more services to the network).

Essentially this means splitting the 1 million total CBX into halves of 500k CBX each. One half would be used for PoSP at 1% annual inflation (interest earnings projected from this would be in the 3-6% annual range). The other half for BPN would be at 3% annual inflation so the two would balance out to our 2% inflationary target.

Additionally to make BPN operation more lucrative, we will limit the total number of BPNs to max out at 250k CBX (1/4 of the network). This means that if all of the BPN slots are filled, the absolute minimum interest earnings would be 6% per year. Going off of our PoSP history, we can extrapolate that the return will actually be 3-6 times higher than the inflationary rate from the BPN half therefore rewarding in the projected range of 9-18% yearly for BPN operators.

So with this outlined we come back to the current survey. If we set a BPN cost at 2k CBX, then the maximum number of nodes we can have on the network would be 125. If however we set BPN cost at 500 CBX, then we can have a maximum of 500 BPN on the network and better decentralization.

Feel free to provide any input you want heard from the team regarding this subject.

I don't think many understood it like this so we need to create a new poll now. You cant possibly only have 125 BPN's thats not enough...even 500 is not really that many.

Would it be possible (I know asking things like this with zero knowledge of how to design or code it is often pointless) to rather have tiered pos levels.

The tiers would depend on amount of cbx held and duration they have been held for.
I have asked this on pos3 coins and been told that there is no easy way to implement this because the duration held for is impossible to work off for some reason?

[VonSpass]

... You cant possibly only have 125 BPN's thats not enough...even 500 is not really that many. ...

Lisk and all the tokens based on the awful DPoS algo have each exactly 101 nodes or "elected Delegates", and their respective networks are doing fine.  The BPN system proposed here will allow also for regular nodes to form blocks, not just BPN's, so I think 125 BPNs is enough, since orchestrating a theoretical DDoS attack on active BPN's would still not shutdown the network.

[elambert]

I don't think many understood it like this so we need to create a new poll now. You cant possibly only have 125 BPN's thats not enough...even 500 is not really that many.

This is why I bring this topic up for discussion. The poll is for community input and we may run another one with the evolved discussion unfolding.

Would it be possible (I know asking things like this with zero knowledge of how to design or code it is often pointless) to rather have tiered pos levels.

The tiers would depend on amount of cbx held and duration they have been held for.
I have asked this on pos3 coins and been told that there is no easy way to implement this because the duration held for is impossible to work off for some reason?

Anything is possible and I like the idea. However, this would have to be evaluated at the conclusion of this road-map (end of 2017) along with our other ideas and looked into further at that time. Right now we feel confident that accomplishing the road-map will put us in a position where market price and rewards from dev BPN will be able to fund ongoing development. So we want to stick as close to the outlined path and schedule as possible.

Remember, this 4 year project has evolved and will continue to do so. This space (cryptos) is full of development and collaboration with its open source approach.  Improvements will continue.

[Yannic]

If it's 500 i can run one on my server alone for a year and more

If it's 1000 i will ask if someone want to invest 500cbx with me locked for a year in my server paid by me and share 50/50 of cbx at the end or continue to another year.

If it's 2000 i will ask if 3 people would like to invest 500cbx with me locked for a year in my server paid by me and share 1/4 of cbx at the end or continue to another year.

If i cant run as masternode because too high and dont find 1 to 3 peoples to invest with me ( eg: dont trust me ), i will run as PoSP like i am but with lose ( server cost ) if price dont rise.


I love how Dash masternodes run (required time, minimum downtime, %per block to masternodes, no limit of masternodes) but i will be ok with the CBX BPN white paper


PS: For now (with 500cbx in one transaction, i win 1 block each 4 to 5 hours)

[FiniteRed]

Master nodes should be exactly that, individuals with large holdings locking their funds away and being rewarded for their sacrifice, we don't need 500 master-nodes on the network, we need enough to ensure that no one multi-node bag holder can have a monopoly over all others for any significant sequence of blocks. If you don't have enough for a master-node then just stake your coins, if you do have enough then either hold and sell when the price is right or lock them away for a monthly return.

I voted for 10k in the poll which is wayy more then I own - i'm never going to run a master node - I am going to stake when ever I have the opportunity and be grateful for the income.

Running a master node should not be the defacto node type on the network, hundreds of active stakers should be imo

FR

[weakhand]

Can you run more than one node per computer?
Can you run a node on a Mac?
Thanks

[misanthropicrage]

I cannot see the voting results regarding collateral for a masternode.  Can someone tell me?

Also like other coins that use masternodes, it might make sense for a small % of the income they produce to go to the developers.  Creates a nice positive feedback loop, where the coins are locked up (reducing available supply), devs get $ that can be used to implement more features, helping to drive demand for the coin.

If I had a vote I would vote either 500 or 1k for collateral, at least right now.  Perhaps the collateral could change as supply increases.  But it is best to have a robust network of nodes to ensure the security of the chain.  Dash collateral is 1k and they have 7.4 million coins.  With less than 1 million coins 1k collateral seems quite reasonable.

[elambert]

Running a master node should not be the defacto node type on the network, hundreds of active stakers should be imo

Great feedback, thank you FR

Can you run more than one node per computer?
Can you run a node on a Mac?
Thanks

Yes and yes

I cannot see the voting results regarding collateral for a masternode.  Can someone tell me?

Also, the 2017 road-map has been added to the website and some updates are being made. This process will be ongoing process as the new projects roll out. Community review of the text, links, etc is welcomed and appreciated.

[shinep]

Been away for a while, but still got some CBX from the past.
Do I have to swap  the old coins?