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

[cryptotank.io]

https://twitter.com/CryptoTank_io/status/915938698633527296

Sorry! Forgot to tag @cryptobullionx!

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[arseaboy]

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.

interesting concept and for sure it will bring people who loves to play with binary trading will be attracted looking forward for this inegrations
so cbx will be useful as a token for this right? when do we expect this one be run even in a trial version but this time using cbx instead of
btc? might be possible that cbx holders will be willing to test and enjoy with your platform.

[elambert]

1) Why do we still need PoSP if we have BPN?
2) I can see the team and positions on the website but are you able to list the team's real names?
3) When is the MN network expected to go live roughly? What day, week or month is that happening?
4) Will we have a website for MN proposals/voting and do it through console to start?
5) Is there any plans for roadmap for 2018 yet or does this entirely depend on what people vote for and the direction people want to take CBX?
6) What date roughly will the new wallet be released?

Thanks cookiehunt, excellent questions!

1) This is an involved answer, I will try to make it as clear as possible - the white paper will break this down better once released. Masternodes will max out at 125 total (2k CBX per mn). This will account for 1 quarter (250k) of the overall CBX supply (~ 1 million). The remaining 750k of CBX in circulation will not have to operate without incentive. They will be able to still be staked and rewarded based off PoSP (granted at a much lower rate than masternodes but still anticipated to be multiply better than overall 2% inflation rate). This allows all CBX owners to continue to participate regardless of investment level helping to maximize decentralization while still rewarding larger investor/supporters.

2) I will discuss this with the team. I am okay with this yet still sensitive to team members having some semblance of privacy even though this is purely illusionary at this point imo.

3) We are in the process of coding something from scratch. This is a massive task which was projected to have already been completed, however things are not always so cut and dry in coding as in life so sometimes 'shit happens' for lack of a better term. We are working through the unanticipated obstacles and planning to deliver the product as soon as possible while still adhering to quality standards. Sorry, I know I danced around the answer here but in short, we do not know but we are very close and trying our utmost to meet the timeline deadlines.

4) Are you referring to Masternode voting privileges? If so, this would be handled through the Vault itself.

5) There will be a 2018 road-map and we have very ambitious plans for that year. However, we will not formalize that and projected deadlines until we are close to completion of the current road-map.

6) Please refer to answer in 3. We will announce fork date as soon as we can.

[FiniteByDesign]

Strange activity on Cryptopia in CBX/BTC pair. It looks like someone is trying to push down the price slowly so they can buy in the 20k-30k satoshi range. Careful not to get fleeced by this tact!

Additionally, Cryptopia has been making some very nice enhancements to their platform!

[elambert]

1) Why do we still need PoSP if we have BPN?
2) I can see the team and positions on the website but are you able to list the team's real names?
3) When is the MN network expected to go live roughly? What day, week or month is that happening?
4) Will we have a website for MN proposals/voting and do it through console to start?
5) Is there any plans for roadmap for 2018 yet or does this entirely depend on what people vote for and the direction people want to take CBX?
6) What date roughly will the new wallet be released?

Thanks cookiehunt, excellent questions!

1) This is an involved answer, I will try to make it as clear as possible - the white paper will break this down better once released. Masternodes will max out at 125 total (2k CBX per mn). This will account for 1 quarter (250k) of the overall CBX supply (~ 1 million). The remaining 750k of CBX in circulation will not have to operate without incentive. They will be able to still be staked and rewarded based off PoSP (granted at a much lower rate than masternodes but still anticipated to be multiply better than overall 2% inflation rate). This allows all CBX owners to continue to participate regardless of investment level helping to maximize decentralization while still rewarding larger investor/supporters.

2) I will discuss this with the team. I am okay with this yet still sensitive to team members having some semblance of privacy even though this is purely illusionary at this point imo.

3) We are in the process of coding something from scratch. This is a massive task which was projected to have already been completed, however things are not always so cut and dry in coding as in life so sometimes 'shit happens' for lack of a better term. We are working through the unanticipated obstacles and planning to deliver the product as soon as possible while still adhering to quality standards. Sorry, I know I danced around the answer here but in short, we do not know but we are very close and trying our utmost to meet the timeline deadlines.

4) Are you referring to Masternode voting privileges? If so, this would be handled through the Vault itself.

5) There will be a 2018 road-map and we have very ambitious plans for that year. However, we will not formalize that and projected deadlines until we are close to completion of the current road-map.

6) Please refer to answer in 3. We will announce fork date as soon as we can.

1) When will the updated Whitepaper be released. I have read your old one already.
2) Coding delays are unforeseeable and understandable. No problem here
3) Yes I was referring to masternode voting privileges. You mentioned a 2018 roadmap might be released before any voting is done. So is the future of CBX not up for voting or do you mind explaining further?
4) After the HF, is there a max percentage cap of coins that can be staking PoSP style?
5) So if i own 2000 coins and have a MN running. Can I still get the PoSP rewards as well by keeping wallet open too or can you only receive 1/2 rewards at a given time?

1. Whitepaper will be released around the same time as the new wallet. The majority of it is complete already, just needs some more tweaking, adding lines of code, graphs, etc - but the back bone is there.
2.  
3. Masternode implementation is stage 1 of the current 4 stage 2017 roadmap. 2018 road-map will be prioritized and published close to the completion of the current 4 stage plan so masternode voting will be involved in the creation process.
4. No max on PoSP staking coins. All coins are eligible as long as they are in an online staking wallet and not committed to a BPN.
5. You will not be able to double-dip (earn BPN and PoSP on the same coins)

Below is an excerpt from the whitepaper draft in the hopes that this assists in clarifying the new design.

Bullion Participation Node (BPN) - Implementation

CBX network security and transaction confirmations (at time of writing) are handled exclusively by CBX’s PoSP protocol - Vaults (wallets) that are online and unlocked for staking.

As a reward for this service to the network, the overall inflationary rate of 2% per year is shared among only the staking, service providing Vaults (offline vaults forfeit their potential stake earnings to those online and ‘participating’ in the network functionality).
Since only a fraction of the network is staking at any given time, the reward to the service provider (staker) is exponentially greater than CBX’s overall 2% per year annual inflation rate and has over the 1.5-year history of PoSP implementation in CBX shown to reward roughly 3-6 times the inflationary rate (or 6-12% interest earnings per year).

The quandary with implementation of masternodes into the CBX protocol is how to provide adequate compensation for node operators within the limits of 2% annual inflation; while also continuing to provide enhanced rewards to PoSP staking claims.
The solution to maintain the inflationary rate while adding in the new variable of Bullion Participation Nodes (from here on in this document referred to as BPN), begins by splitting the total coin supply into 2 halves.

One half dedicated to rewarding PoSP claims at 1% per year inflation, while the other half is dedicated to rewarding BPN claims at 3% per year inflation averaging out to the desired 2% annual inflationary goal.

 

Notice that the earning potential for operating a BPN is substantially higher and this is justified due to the additional services being provided by these owner/operators (coin-mixing, instantaneous transaction and voting). The PoSP methodology of rewarding based on contribution level continues to be the standard, even with this new implementation.

Additionally, to ensure that BPN operation remains lucrative for the owner/operators, a limit is placed on the total number of BPNs to max out at 1/4 of the network’s coin supply (approximately 250k CBX in exampled metrics).

To receive the maximum incentive, one must operate a BPN. This will lure a portion of CBX investors into becoming BPN runners thereby shrinking the pool of PoSP staking competition and allowing the 1% inflationary rate allotted to that half of the network to pay out an estimated 3-6% yearly interest earning potential.
Furthermore, as the operation of a BPN requires the owner to lock away a sum of 2,000 CBX, implementation will result in upward price pressure as CBX are removed from circulation by investing parties looking to maximize financial reward from their respective network contribution.
As previously stated, the network yearly inflation rate will be split in half between BPN and PoSP. The half allotted to BPN is set to 3% annual inflation per year.
This 3% per year from half the coins in circulation (500k CBX in our example metrics) will be split among a capped maximum limitation of 125 BPNs, each requiring 2,000 CBX for operation. 125 BPNs at 2,000 CBX per node totals to 250k CBX.

This means that if all the BPN slots are full, the absolute minimum interest earnings rate would be 6% per year, per BPN. However, based off our historic participation levels with PoSP, we can assume that the return will be 3-6 times higher than the inflationary rate (3%) therefore rewarding in the projected range of 9-18% interest per year for BPN operators.

The net resulting earnings opportunity to participating CBX holders is estimated as follows:



A balancing act will occur organically via market determination between PoSP and BPN. If PoSP rewards get low, more investors will opt to operate a BPN to earn higher compensation.

If BPN rewards become too competitive and diminish, some operators will move to PoSP staking minimizing their required efforts while simultaneously reducing the competition on the BPN side.

In this manner PoSP and BPN will have a symbiotic relationship where the reward structure will react to the decisions of the network participants.

[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.

interesting concept and for sure it will bring people who loves to play with binary trading will be attracted looking forward for this inegrations
so cbx will be useful as a token for this right? when do we expect this one be run even in a trial version but this time using cbx instead of
btc? might be possible that cbx holders will be willing to test and enjoy with your platform.

I think that we will have to wait for the next hard fork and the planned "Merchant api service" for phase 2 of the roadmap.

[Cbx.Bet]

1. Whitepaper will be released around the same time as the new wallet. The majority of it is complete already, just needs some more tweaking, adding lines of code, graphs, etc - but the back bone is there.
2.  
3. Masternode implementation is stage 1 of the current 4 stage 2017 roadmap. 2018 road-map will be prioritized and published close to the completion of the current 4 stage plan so masternode voting will be involved in the creation process.
4. No max on PoSP staking coins. All coins are eligible as long as they are in an online staking wallet and not committed to a BPN.
5. You will not be able to double-dip (earn BPN and PoSP on the same coins)

Below is an excerpt from the whitepaper draft in the hopes that this assists in clarifying the new design.

Bullion Participation Node (BPN) - Implementation

CBX network security and transaction confirmations (at time of writing) are handled exclusively by CBX’s PoSP protocol - Vaults (wallets) that are online and unlocked for staking.

As a reward for this service to the network, the overall inflationary rate of 2% per year is shared among only the staking, service providing Vaults (offline vaults forfeit their potential stake earnings to those online and ‘participating’ in the network functionality).
Since only a fraction of the network is staking at any given time, the reward to the service provider (staker) is exponentially greater than CBX’s overall 2% per year annual inflation rate and has over the 1.5-year history of PoSP implementation in CBX shown to reward roughly 3-6 times the inflationary rate (or 6-12% interest earnings per year).

The quandary with implementation of masternodes into the CBX protocol is how to provide adequate compensation for node operators within the limits of 2% annual inflation; while also continuing to provide enhanced rewards to PoSP staking claims.
The solution to maintain the inflationary rate while adding in the new variable of Bullion Participation Nodes (from here on in this document referred to as BPN), begins by splitting the total coin supply into 2 halves.

One half dedicated to rewarding PoSP claims at 1% per year inflation, while the other half is dedicated to rewarding BPN claims at 3% per year inflation averaging out to the desired 2% annual inflationary goal.

 

Notice that the earning potential for operating a BPN is substantially higher and this is justified due to the additional services being provided by these owner/operators (coin-mixing, instantaneous transaction and voting). The PoSP methodology of rewarding based on contribution level continues to be the standard, even with this new implementation.

Additionally, to ensure that BPN operation remains lucrative for the owner/operators, a limit is placed on the total number of BPNs to max out at 1/4 of the network’s coin supply (approximately 250k CBX in exampled metrics).

To receive the maximum incentive, one must operate a BPN. This will lure a portion of CBX investors into becoming BPN runners thereby shrinking the pool of PoSP staking competition and allowing the 1% inflationary rate allotted to that half of the network to pay out an estimated 3-6% yearly interest earning potential.
Furthermore, as the operation of a BPN requires the owner to lock away a sum of 2,000 CBX, implementation will result in upward price pressure as CBX are removed from circulation by investing parties looking to maximize financial reward from their respective network contribution.
As previously stated, the network yearly inflation rate will be split in half between BPN and PoSP. The half allotted to BPN is set to 3% annual inflation per year.
This 3% per year from half the coins in circulation (500k CBX in our example metrics) will be split among a capped maximum limitation of 125 BPNs, each requiring 2,000 CBX for operation. 125 BPNs at 2,000 CBX per node totals to 250k CBX.

This means that if all the BPN slots are full, the absolute minimum interest earnings rate would be 6% per year, per BPN. However, based off our historic participation levels with PoSP, we can assume that the return will be 3-6 times higher than the inflationary rate (3%) therefore rewarding in the projected range of 9-18% interest per year for BPN operators.

The net resulting earnings opportunity to participating CBX holders is estimated as follows:



A balancing act will occur organically via market determination between PoSP and BPN. If PoSP rewards get low, more investors will opt to operate a BPN to earn higher compensation.

If BPN rewards become too competitive and diminish, some operators will move to PoSP staking minimizing their required efforts while simultaneously reducing the competition on the BPN side.

In this manner PoSP and BPN will have a symbiotic relationship where the reward structure will react to the decisions of the network participants.

If I understand correctly, there will be 2 percentage participation at the same time.

For exemple :

If the participation is 25% for the classic POSP. the staker wins 4%.
And at the same time
If the participation is 33% for the BPN POSP. the staker wins 9%.

Tell me if I'm right.

[elambert]

If I understand correctly, there will be 2 percentage participation at the same time.

For exemple :

If the participation is 25% for the classic POSP. the staker wins 4%.
And at the same time
If the participation is 33% for the BPN POSP. the staker wins 9%.

Tell me if I'm right.

Not quite.

Yes on 2 percentages but your calculation is incorrect.

In your example:
PoSP stakers would be looking at roughly 3%
BPN runners would be looking at roughly 18%

[Cbx.Bet]

I do not understand why the annual interest (1% and 3%) is calculated on 500 000 and 500 000





and the participation rate over 750,000 and 250,000

[Alex4J]

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!

Hello,
I recommand you to follow the guide to the step 5:
https://github.com/cryptogenicbonds/CryptoBullion-CBX/blob/master/doc/build-unix.md

Then instead of typing the command of the step 5, you type this one:

Code:

make -f makefile.pi

It should do the trick

[elambert]

If I understand correctly, there will be 2 percentage participation at the same time.

For exemple :

If the participation is 25% for the classic POSP. the staker wins 4%.
And at the same time
If the participation is 33% for the BPN POSP. the staker wins 9%.

Tell me if I'm right.

Not quite.

Yes on 2 percentages but your calculation is incorrect.

In your example:
PoSP stakers would be looking at roughly 3%
BPN runners would be looking at roughly 18%

In this example all MNs earn 18% and PoSP earns 3%. MN can earn between 9-18%. 

MN can actually earn between 6% and 750% The 9-18% for MN earnings is an educated estimate. The lowest an MN can earn is actually 6% (this is if all 125 MN are full and operational). The highest would be 750% in the case of only 1 MN operating.

So what has to happen to the numbers for 18% to drop to 9%? Could you show another example? I'm unsure of which variables will change.

If 66% of all MN positions are full, then the owners will experience 9% earnings.

Remember that the coins tied up in MNs are not eligible for PoSP. And coins sitting on exchanges, lost or on locked wallets are not eligible for either.

Presently we have 30% network participation in PoSP. In the scenario of 100% participation, we would experience PoSP earnings equal to inflation at 2%. This has never, will never and frankly can never occur.

Even if the current 30% participation level were to grow significantly, the participants would be split between MN (BPN) and PoSP. MN takes more work to set up, requires more responsibility and has more overhead cost associated with it justifying substantially higher earning potential relative to PoSP. If the earnings from BPN are not high enough, the network will experience migration away from BPN toward PoSP. As BPN participation decreases, BPN profits will increase and PoSP profits will decrease causing a balance point to be reached. We do not know where that point is but project it in the ranges outlined in the whitepaper excerpt provided in previous post.

I outline this in the whitepaper excerpt and elaborated on it. Perhaps this explanation will need some more work if the idea is not being conveyed. I desire to make this clear and convey it succinctly in the whitepaper final draft so this conversation will be very beneficial in determining how to relay this information to the community...

[elambert]

I do not understand why the annual interest (1% and 3%) is calculated on 500 000 and 500 000





and the participation rate over 750,000 and 250,000

This is to better enhance the earning potential for BPN (masternode) operators.

[kjadB]

Has 2000 CBX been locked in as the BPN coin amount yet?

[Cbx.Bet]

This is to better enhance the earning potential for BPN (masternode) operators.

Thank you I understand better now

[cryptobullion.io]

Has 2000 CBX been locked in as the BPN coin amount yet?

Yes, I have locked the poll, so 2000 CBX will be the minimum amount required to form a BPN

[preshpresh]

will a wallet update be released for this bpn/masternode thing??

this is my only coin out of 17 that i keep on an exchange due to continued bootstrap/rescan issues on the  2.4.3 release

[elambert]

will a wallet update be released for this bpn/masternode thing??

this is my only coin out of 17 that i keep on an exchange due to continued bootstrap/rescan issues on the  2.4.3 release

Yes, there will be a new Vault (wallet) with fork.

[VonSpass]

Hey Bullionaires, Join The Creative CBX Contest for Positive Momentum!

$500 reward for finding uses for CBX, in new sites and applications, paid by the CBX team.

Rules:

    Any site or app using CBX for the first time is eligible to win
    Post your site or app on the CBX forum. https://bitcointalk.org/index.php?topic=951753
    The community will vote on a winner on Sept 1, 2017
    Site or App must be available to the public and be working/running by Sept 1, 2017
    $500 paid in BTC at the end

Examples of entries:

    Existing sites that accept CBX for the first time
    New CBX apps
    New sites that use CBX
    CBX YouTube videos or ads that can be shared

Feel free to post works in progress, status updates on your project, etc. on the CBX forum. The more you post on the CBX forum the more the community can get behind you and help make your project a success. Prize awarded in BTC so that the winner can buy more CBX!

**Bonus contest - every tweet or post using #500USDforCBX is an entry to win $100 worth of CBX. Winner chosen at random so the more you tweet, retweet, or post, the higher chances you have of winning.

3 more days until we take the entries we have and submit to the jury (dev team and event sponsor)

has everybody submitted their up and running CBX project for the Creative CBX Contest?

[webbski9]

will a wallet update be released for this bpn/masternode thing??

this is my only coin out of 17 that i keep on an exchange due to continued bootstrap/rescan issues on the  2.4.3 release

Yes, there will be a new Vault (wallet) with fork.

Hi there.I am new to this coin.I have downloaded the wallet on my MacBookAir and will transfer my holding there.Is this what is known as The Vault ? And should I await the "new" wallet you refer to ? Also,with 500 coins what can I expect my rewards to be with Staking ?
Best Regards
David

[m33]

will a wallet update be released for this bpn/masternode thing??

this is my only coin out of 17 that i keep on an exchange due to continued bootstrap/rescan issues on the  2.4.3 release

Yes, there will be a new Vault (wallet) with fork.

Hi there.I am new to this coin.I have downloaded the wallet on my MacBookAir and will transfer my holding there.Is this what is known as The Vault ? And should I await the "new" wallet you refer to ? Also,with 500 coins what can I expect my rewards to be with Staking ?
Best Regards
David

i will be happy to answer your question on telegram https://goo.gl/sBCtfF with pic i too  lazy to upload