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

[raimch89]

some update about progress of roadmap?

[Smoothmold]

1. delete everything is appdata/roaming/crytobullion folder except wallet.    yes i have deleted everything in de cryptobullion folder expect wallet.dat file
2. download the latest boostrap and extract in that dir. can someone explain step by step what i should do? I dont understand this lol
3. if you using wifi connection make sure your router supports UPnP and its enabled.(sometimes its not enabled by default)
4. start the vault, first it might show no connections but keep it open for sometimes.. it took me about 30-40 mins to get connections.
5. Dont unlock wallet for staking before complete sync.

also did you try out the cbx tool where they have the option of starting the vault with some pre defined nodes.

Sure Smoothmold! we are a helpful bunch, here

1) The link to download the latest official bootstrap is always in the OP, which is managed by the officials; we don't post it in the thread because people with bad intentions could technically try to fish people to use a tricked bootstrap - but here it is again for simplicity: http://node.alex4j.cryptobullion.io/bootstrap.zip

2) You have deleted all files in your Cryptobullion folder except wallet.dat, good.

3) Next thing is have you locked (encrypted) your CBX Vault? If your balance is zero then you don't have to, but if your balance is any number above zero you must encrypt your Vault (start Vault, use the Settings menu, "Encrypt Vault" - and careful not to forget the password you pick!

4) Close Vault. Keep the Roaming/CryptoBullion folder window open, and make sure it has not regenerated new files - delete any files there except for wallet.dat.

5) Decompress the bootstrap file (right-click the .zip file, decompress), and move all the decompressed files to the .../Roaming/CryptoBullion folder.

6) Restart Vault; do not unlock it if you have a positive balance, let your Vault sync itself - it should not take more than 2-3 hours

7) Once synced, you will see a green checkmark on the bottom right of the Vault window - unlock it (click on blue padlock, for staking) and begin to benefit from the lucrative CBX staking! Leave your Vault open and synced; staking pays 8% yearly, these days (while CBX inflation is 2%).

Can't wait for Vault 3.0 to come out with all these syncing issues resolved!

Welcome to the CryptoBullion family...

Thanks! Its synchronizing to the network now. So it will almost good to go i think

Question about staking, you say staking pays 8% yearly. Does it mean that you have to have your wallet open 24/7? So you dont close your pc or laptop?

Yes, you must keep your Vault (wallet) open and unlocked for staking in order to receive the interest earnings.

The way PoSP is able to pay out  a higher interest rate (currently 8% per year) than the rate of inflation (2% per year) is because only active staking Vaults are eligible to earn interest at any given time. So essentially what is happening when the interest earning rate is 8% per year is that only 1/4 of the network is staking and therefore they are earning the entire 2% inflation rate amongst themselves. The other 3/4 of the network that is not actively staking is forfeiting their potential interest earnings.

Please note that the earnings rate can and does fluctuate based off network participation.

Thank you. For my understanding 2% inflation rate is the same as 2% more CBX every year? So the supply of CBX is increasing 2% a year? Does that mean to counterfait the devaluation of the price of CBX we get 2% interest. But in this case the 2% interest is being distributed amongst the people who are actively staking which are 1/4 of the network, thereby receiving 4 times that amount, thus 8%.

Do i understand it correctly or not?

[elambert]

Thank you. For my understanding 2% inflation rate is the same as 2% more CBX every year? So the supply of CBX is increasing 2% a year? Does that mean to counterfait the devaluation of the price of CBX we get 2% interest. But in this case the 2% interest is being distributed amongst the people who are actively staking which are 1/4 of the network, thereby receiving 4 times that amount, thus 8%.

Do i understand it correctly or not?

It sounds as though you have it my friend. Although I do not quite understand your once sentence (below), but this is probably just due to terminology used.

"Does that mean to counterfait the devaluation of the price of CBX we get 2% interest."

CBX inflation rate is 2% per year on overall money supply.
CBX interest earnings rate (via PoSP) is the distribution of this 2% inflation among the actively staking wallets at any given time.

[elambert]

some update about progress of roadmap?

Please see most recent update below:

Roadmap 2017 status report!

Well, the new BPN Vault 3.0 cannot synchronise with the old CBX blockchain, which is something we did not anticipate, and after some debugging we have found out that we need to review how the Vault 2.4.3 is hashing for the PoSP block targets, and incorporate this into Vault 3.0.

Naturally, this is what we are working on right this moment, we will keep you posted as developments arise, following our commitment to transparency.

[VonSpass]

(...) So the supply of CBX is increasing 2% a year? Does that mean to counterfait the devaluation of the price of CBX we get 2% interest (...)

Everything else being equal, inflation indeed theoretically induces a reduction of value to existing money supply.

That being said, "everything else being equal" never applies to CBX, as its community grows by much more than 2% yearly; so new community members gobble up that 2% created pretty quickly.

Also, inflation is a necessary evil as there has to be an economic incentive for people to keep their Vaults online and staking - staking is how blocks are formed and transactions made public, the backbone of a decentralized currency.

I would like also to add that the current staking reward is around 8% officially, but because it's not everybody who is staking that can keep their Vaults online 100% of the time my personal yearly interest is closer to 10% actually.

[Smoothmold]

(...) So the supply of CBX is increasing 2% a year? Does that mean to counterfait the devaluation of the price of CBX we get 2% interest (...)

Everything else being equal, inflation indeed theoretically induces a reduction of value to existing money supply.

That being said, "everything else being equal" never applies to CBX, as its community grows by much more than 2% yearly; so new community members gobble up that 2% created pretty quickly.

Also, inflation is a necessary evil as there has to be an economic incentive for people to keep their Vaults online and staking - staking is how blocks are formed and transactions made public, the backbone of a decentralized currency.

I would like also to add that the current staking reward is around 8% officially, but because it's not everybody who is staking that can keep their Vaults online 100% of the time my personal yearly interest is closer to 10% actually.

Thanks for the explanation. Now i understand fully. Good to know the fundamentals of CBX. Enjoying being part of CBX so far. Success on the roadmap. Looks like you have a lot to handle these couple of months!

[TylerJordan]

It only takes investors and good common use of the currency to create market volume.

[preshpresh]

nice upside simmering

[raimch89]

is it possible to fix wallet on yobit? i have some coins blocked here since very long time.

https://yobit.net/en/maintenance_request/

[FiniteByDesign]

is it possible to fix wallet on yobit? i have some coins blocked here since very long time.

https://yobit.net/en/maintenance_request/

YoBit has to fix their wallet. Traders and the team have requested this several times and YoBit refuses. I see this come up every couple weeks in this thread and the result is always the same.

Do NOT use YoBit!

[VonSpass]

is it possible to fix wallet on yobit? i have some coins blocked here since very long time.

https://yobit.net/en/maintenance_request/

YoBit has to fix their wallet. Traders and the team have requested this several times and YoBit refuses. I see this come up every couple weeks in this thread and the result is always the same.

Do NOT use YoBit!

Yeah, Yobit is a scammer exchange; many coins are in the same situation as CBX where you can trade them but can`t withdraw - as soon as a given coin has a hard fork, Yobit doesn't update and then they try to squeeze BTC out of devs for them to bring their coin back up again.  Even bigger problem is, even if we do pay, there are no guarantees they will actually do what they say; so there is no point in paying.

The only solution is for people to stay away from Yobit.

[arseaboy]

is it possible to fix wallet on yobit? i have some coins blocked here since very long time.

https://yobit.net/en/maintenance_request/

YoBit has to fix their wallet. Traders and the team have requested this several times and YoBit refuses. I see this come up every couple weeks in this thread and the result is always the same.

Do NOT use YoBit!

Yeah, Yobit is a scammer exchange; many coins are in the same situation as CBX - as soon as a given coin has a hard fork, Yobit doesn't update and then they try to squeeze BTC out of devs for them to bring their coin back up again.  Even bigger problem is, even if we do pay, there are no guarantees they will actually do what they say; so there is no point in paying.

The only solution is for people to stay away from Yobit.

Sad to hear that Ben but its just reality that yobit really cares only for their benefits it should be their task to keep the wallet works but as what the dev mentioned there's no assurance whether they will comply if the dev will pay them its useless to tackle yobit by now its been answered before.

[mbtc31]

i think if it happens, CBX value at $5, it will be great and a miracle too because all i know CBX was over $5 a piece way back in November of 2013 so it has happened before. Cant wait to see how cbx would be more popular after this value happen i know its been 4 years now and we all still waiting for cbx to be rise to that price again and with the new token release im thinking that theres a whale who's trying to control the price and wanted to have more cbx from their bags and earn big when the price rises up.

[VonSpass]

In thread title it says CBX created PoSP, can you explain further about this accomplishment? Does this particular dev still work on the project now and does he have a name?

After the hardfork will there be PoSP rewards as well as MN rewards and if yes, why do we still need PoSP?

PoSP's concept was imagined by elambert, enthusiastically endorsed and promoted by myself, then coding and hard fork was carried out by Alex4J in January 2016. Alex4J is still with us to this day, currently working on roadmap items.

Since the CBX PoSP hardfork, a few other coins also have embraced PoSP (PSB, TOA) and use it as their reward algo.

PoSP is still a hidden gem in the Crypto sphere, but applied to masternodes (BPNs), CBX is about to go mainstream; PoSP will be the backbone of the CBX network with Vault 3.0, with half the CBX rewards to regular staking Vaults, and the other half going to Vaults setup as BPN.

[Cbx.Bet]

I propose to The Creative CBX Contest  the site CBX.BET comprising 2 parts:

part 1

Binary Options* based on mutual betting.
* Binary options are bets on the rise or fall of a stock asset during a period defined in advance.

You bet 1 CBX on the decline of a share.
Another player bets on rising 1 CBX this action.
The winner wins 100%.
In case no one inverse bet to yours, it's repaid.



part 2

Stock Market Tournament

To survive, you have to guess the price performance of BTC/EUR each 5 minutes.
On error, the tournament is over for you.
the last player wins the tournament.



The site is in bitcoin, if this project wins the Creative CBX Contest,
the $ 500 will be used to move the BTC site to CBX.

the developers of the site are on a big project and can’t take care of it any more.

if you have the skills to change the payment system from BTC to CBX
Send me a PM.

The site will be visible within a days or two, the time to install it on the server.

[Cbx.Bet]

Part 1

[Cbx.Bet]

part 2

[misanthropicrage]

I am looking to run the CBX wallet on a Raspberry Pi.  Can anyone offer me help in installing and running the wallet on Linux (it is unclear from the wallet download).

Thank you!

[VonSpass]

I propose to The Creative CBX Contest  the site CBX.BET comprising 2 parts:

part 1

Binary Options* based on mutual betting.
* Binary options are bets on the rise or fall of a stock asset during a period defined in advance.

You bet 1 CBX on the decline of a share.
Another player bets on rising 1 CBX this action.
The winner wins 100%.
In case no one inverse bet to yours, it's repaid.



part 2

Stock Market Tournament

To survive, you have to guess the price performance of BTC/EUR each 5 minutes.
On error, the tournament is over for you.
the last player wins the tournament.



The site is in bitcoin, if this project wins the Creative CBX Contest,
the $ 500 will be used to move the BTC site to CBX.

the developers of the site are on a big project and can’t take care of it any more.

if you have the skills to change the payment system from BTC to CBX
Send me a PM.

The site will be visible within a days or two, the time to install it on the server.

Very exciting projects indeed! How will you be promoting your binary option platform? Will it be operational before October 15th so we can evaluate it versus the other entries in the contest?

[Cbx.Bet]

I propose to The Creative CBX Contest  the site CBX.BET comprising 2 parts:

part 1

Binary Options* based on mutual betting.
* Binary options are bets on the rise or fall of a stock asset during a period defined in advance.

You bet 1 CBX on the decline of a share.
Another player bets on rising 1 CBX this action.
The winner wins 100%.
In case no one inverse bet to yours, it's repaid.

part 2

Stock Market Tournament

To survive, you have to guess the price performance of BTC/EUR each 5 minutes.
On error, the tournament is over for you.
the last player wins the tournament.



The site is in bitcoin, if this project wins the Creative CBX Contest,
the $ 500 will be used to move the BTC site to CBX.

the developers of the site are on a big project and can’t take care of it any more.

if you have the skills to change the payment system from BTC to CBX
Send me a PM.

The site will be visible within a days or two, the time to install it on the server.

Very exciting projects indeed! How will you be promoting your binary option platform? Will it be operational before October 15th so we can evaluate it versus the other entries in the contest?

Cbx.Bet is operational but in BTC.

While waiting for the change to CBX, I will promote the site by doing free tournaments.