Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 197. (Read 359514 times)

http://coinofview.com/crowdfunding/coin/CryptoBullion.html

Here's a new project gathering info's about the top 300 coins. 

Great, thanks!


FYI - I still have a handful of CBX t-shirts available for those interested...





http://finitebydesign.net/product-category/clothing/

My computer turned 24 days
From Jan. 1 to 7 versions  2 and 2.1 did not work for me.
I have all my cbx on one single address.

CBX more you have, more you earn

Are you saying that if all things remained the same, you would get about 12% interest payment for the year through PoSP (based on January's return)

That is fantastic!

What is your secret if you don't mind sharing? Are you splitting between multiple batches of aged coins? Your keeping your Vault running all the time I assume?

Congrats!

Cryptopia has all the volume at present. My smidgin is helping a nice tight spread there: 600-580. Have small buy-offers on the P2P.

Mark

January = 0.95% for me

Good idea, thanks! Coinmarketcap is a very important marketing tool...

Sigh. I am stretched rather thin, and just a pensioner. Will work on the P2P thing, and slowly build my stock of CBX.


'China but let's not forget Japan.' [ http://coinmarketcap.com/currencies/monacoin ? ]

Nice, Lab Rat Hoax, niiiice!

EDIT: CBX at 298 on Coinmarketcap -- low volume. P2P gotta always be secondary to exchange-trading in such a situation. I gonna go this second and try to manage a little volume.

Is this something the community could get behind?

http://www.btc38.com/trade/vote_for_trade_en.html


BTC38 is a major Chinese alt trading platform. Guess the first step is to get CBX listed for voting...

Anyone trade there?

Good idea for Japan; I will look into it...

The bank of japan just announced that they will
now reward savers with negative interest rates

The idea of a stable currency designed to be a store of value
Would be very appealing at this point
I always see development teams reaching out to
China but let's not forget Japan


http://www.theguardian.com/world/2016/jan/29/bank-of-japan-shocks-markets-by-adopting-negative-interest-rates


https://www.youtube.com/watch?v=WSEmJyOylZc&feature=youtu.be

We have a couple of projects that need assistance. If anyone from the community is interested and has the necessary skill set, please reach out to me. Pay will be in CBX and to be discussed.

1. Logo redesign project - Looking for someone to help recreate our CBX logo. This could be a permanent position on the core team as work of this type is always needed (banners, splash screen, etc)

2. Promotional Video Creator - Looking for someone able to create some educational/promotional videos for CBX. The first one would be a video to explain PoSP.

3. Website design - It is time we start work on redesigning the website with a fresh new look and to better organize our wealth of information.

Also, volunteers are always needed so if you have a particular skill set and want to assist with CBX, please reach out and let us know what your skills are and how you envision improving CBX. I am happy to award bounties.

big idea
likely works
1. proof of coin held (Crypto Bullion)
2. demonstration of bullion held in reserves (Real Bull)
3. UNITY is a product much like this it can show a balance of held (NXT asset) reserves :: CBX does metal based assets
4. thus you get a round-table/club that acts as buyers of last resort and can measure/record performance

CBX = bullion + trust among ('core-')community members

also settle in bullion_RATE_exchange, if needed, not 24/7, but 30day or 90day intervals

ez way work with the spot price ... get rate convert to digital ... send value ... done

but still need to take the last step and acquire physical (but done by self wheresoever you are in the world)

e.g. public contract
ORACLE >> http://preev.com/btc/xau
AGREEMENT >> ('core-')community members will repurchase 1000.00 CBX coins [@ timestamp Day Hour] for the value of ONE XAU
_{TERMS & CONDITIONS ... the fine print stuff}

TLDR;
100s of community members have real bull
if and only if CBX starts to trade below BTC0.00xxxxx or $0.xx
THEN they sell real bull and buy crypto bull

'P2P trading has logged its first official trade but many still don't understand the purpose and goal... '

Feel free to ask me.

Overall, over time, it's about connections: CBX = bullion = trust among ('core-')community members = merchant development = peripheral projects = increased theoretical understanding of crypto-currencies,  and their markets and communities, etc.

Buy-sell split (up on the exchange) 750-600

The majority of perceived issues with this concept are fairly easily solved or are less problematic than they first appear to be.

(1) Backed CBX becomes automatically un-backed if the self-signed CBX denomination is less than that certificated and after x duration expires i.e. 48 hours 'grace'. This process can be automated via a block explorer.

(2) Self-signed Proof-of-Value certification should also automatically expire after a set duration (or on a network consensus based on block count), much in the same way as SSL certificates for https websites are valid for 60 days, 90 days, 180 days etc., or as blockchain name services have a set duration, as seen with namecoin or emercoin i.e. smart contract expiration.

(3) Consensus based models could be implemented for 'trust' validation i.e. trusted vs untrusted backing consensus (dual pricing / value model). linked example: https://wikipedia.org/wiki/Convergence_(SSL) for how this might be achieved with a browser based plug-in running directly from the CBX wallet / blockchain, again much like namecoin or emercoin DNS, as a decentralized notary daemon.

(4) Multiple representation of the same physical bullion by the same individual is unlikely, and is already somewhat overcome by using a network consensus 'trust' model. Furthermore, to represent the same bullion you still require additional CBX to back / sign / verify with, so doing this becomes increasingly expensive and unlikely. Remembering also that the main benefit of participation in a Proof-of-Value network is towards the collective value, above that of the individually represented value.

All of the above can remain fully decentralized and Peer-to-Peer.  

P.S

On the P2P trading, as IMZ has suggested, maybe we could go with a buy/sell split of maybe a top sell value and a bottom buy value.

Would anyone like to trade like this? If so we will go this way about things.

My alternative would be an average price, buy or sell, slap bang in the middle. A price where it would be convenient and potentially profitable for the buyer or seller the recoup and profit their buy/sell on the exchanges, as there will be a certain buy/sell difference no matter what the trade.

Let me know how you would feel about the working out of the P2P exchange rates, and also let me know if you are wanting to take part in P2P trading.

I love your concept of POV BitcoinFX, I see it as a revolutionary price discovery technique for crypto-currencies.

However, it is a mindF*~K to get your head around lol.

Although there could be individuals backing their PM's on the network and updating as appropriate, continually as they spend, and as they void their backing.

I don't see how there is a way to determine the actual truth of the backing, or un-backing for that matter.

I would really like to think that everyone that would get involved with backing their PM's, 'and un-backing' via POV on the blockchain, would adhere and modify their backing as appropriate, when spending, or selling their PM's, but I don't see that everyone would do this, either intentionally or of a forgetful manner.

Is there a way to easily verify this?

Don't get me wrong i think the idea is brilliant. I just maybe see some holes, and I'm hoping you can fill them in

This is one of my dreams for CBX. Crypto Bullion to Physical Bullion exchange. To and fro, to and fro. One valued against the other.

Holding physical bullion is one thing, but spending it is another.
Conversion can be a costly and time consuming process. With taxes, mailing charges, and time waiting for cash to become available.
If you could quickly convert your precious metals to something more spendable, without having to go through some middleman, it would be a revolution in the trading of PM's for spendable cash over the internet.

Total control of your assets without depending on a third party to give you that service and take their charge for doing so.

The eventuality of my dream would be a P2P physical bullion/crypto bullion exchange, where anyone selling physical bullion could do so for a stable CBX price, fluctuating only with the traditional exchange value of precious metals, and an easy entry/exit for doing so.

I think the first steps would be building a friendly and trustworthy P2P network, open to regular bitcoin trades, with the option of PM exchange if desired.

The next step would be having those in the community with PM's to back their CBX with their precious metals http://cryptobullion.io/proof-of-value-network/ at a value that they would desire to trade in the future.
Once this value is reached the trade would become open, and anyone wanting to buy that lot of precious metals or coins for CBX would be able to execute the trade.

Indeed. Let's have a look into the nitty-gritty of how Proof-of-Value bullion backing actually benefits CBX through true price discovery.

Example;

Alice has 125 CBX and decides to back it with 5oz of .999 fine silver.

Bob has 500 CBX and decides to back it with 10oz of .999 fine silver.


Today (with a $13.58 London fix for 1oz silver at 12 noon) - http://www.lbma.org.uk/pricing-and-statistics ...

Alice's 5oz silver x $13.58 = $67.90 / 125 CBX = a representative proof-of-value of $0.5432 per. CBX.

Bob's 10oz silver x $13.58 = $135.8 / 500 CBX = a representative proof-of-value of $0.2716 per CBX.


Alice and Bob's combined backing therefore equates to a proof-of-value (average) of $0.4074 per. CBX.


The Proof-of-Value Network becomes more interesting when;

Carol has 100 CBX and decides to back it with x amount of gold.

Desmond has 1 CBX and decides to back it with x amount of palladium.

elambert has 10,000 CBX and decides to back it with x amount of platinum.  


As more people (and businesses) continue to participate in the Proof-of-Value network CBX/Real-Bullion value begins to realize true price discovery and finds equilibrium against the total CBX supply.

Anyone backing their own CBX holdings would be increasingly likely to back against the established proof-of-value (network average).

Everyone is also likely to back (adjust) their current holdings against the changing proof-of-value (network moving average).

Backed CBX is technically not in current circulation. Thus, we can also define CBX in circulation (more on this later - to be defined).

This network effect can directly benefit true price discovery. For example;

Network participants are increasingly less likely to back 1,000 CBX with just 1oz of silver (due to finite CBX supply), especially when most participants are backing 0.01 CBX with 1oz of gold (for example). This, in fact, not being dissimilar to how a 51% network attack becomes to 'expensive' to procure against a PoS coin, as network participation involves one's self holding both assets i.e. CBX and precious metal in combination.

...

I could type a lot more regarding theory here - although I have tried to keep this post as concise as possible.

  

Thanks for your reply, digit.
I had a nice chat on IRC with Alex and I finally understood.
So far I had the notion that inputs worked independently from each other, so a 300 CBX input is more likely to stake than a 30 CBX one. Apparently, this is not exactly what's happening behind the scenes. Inputs may be combined to find an answer to the mathematical problem being solved. So if a 300 CBX block cannot fulfill the condition, the extra 30 CBX from the example will be thrown in/combined in order to find a solution. Only and only if a combination of inputs below 500 CBX match a solution they (and only those) will be combined.
So, in my original case, 1.6 CBX don't have much weight to add to the other 143 CBX, so it's not likely they will be combined any time soon, that is, they won't find a solution when combined for which the 143 CBX wasn't able to find on its own. Let's not forget that input age is no longer considered.

So, from my point of view, there is no real advantage for staking in consolidating inputs as they are already combined on the fly for calculation purposes. The advantage I see and has already been mentioned elsewhere has to do with resources occupation: more inputs mean more resources, namely memory. So in my case I see a good strategy in keeping some 3 or 4 smaller inputs as they may still be combined to produce a stake (this is what Alex meant by "needed") while leaving unused inputs still staking (used inputs will be unavailable in the first hour after staking: if a single chunk stakes then you won't stake anything for at least an hour).

I hope this helps.