Would like to add that owning and staking more CBX does not benefit the holder of a larger amount, any more than someone with a smaller amount, other than they will earn more CBX against their balance. Let me explain.
Person A has 100 CBX and Person B has 1000 CBX.
Lets say the average annual PoSP interest is 15%, (2% annual combined on the total supply).
For person A to earn their share over the year, 15% (100/100) x 15 = 15 CBX, their funds would need to stake 15/0.04 = 375 blocks over the year.
Person B to earn their share, 15% (1000/100) x 15 = 150 CBX, their funds would need to stake 150/0.04 = 3750 blocks over the year.
So even though those with higher balances are staking more blocks, they need to, to receive their share of the interest, those with smaller balances need to stake far fewer to to receive theirs.
A person with only 1 CBX would only need to stake (1/100) x 15 = 0.15 CBX, 0.15/0.04 = 3.75 blocks or 4 blocks over a year.
The only secret is keeping your vault running, as you are giving your percentage to others on the network if you don't.
Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 199. (Read 359514 times)
January 26, 2016, 02:38:31 PM
January 26, 2016, 01:43:52 PM
Here is the calculation for PoSP block reward (from the white paper).
http://cryptobullion.io/white-paper/
http://cryptobullion.io/white-paper/
January 26, 2016, 12:49:50 PM
One final question. So, if more people open and stake their wallets, is the .04 likely to go back down to .39 and lower?
No. With PoSP, block gains remain the same (and actually grow over time) as the yearly 2% interest is compounded at each block. What changes when more, or less, people participate is how often you win.
There is one block generated, worldwide, per 65 second average.
More people staking means that you will need more CBX to win blocks as often as you did when there were less people participating; but the block rewards remain the same for everybody (and actually go up).
January 26, 2016, 12:39:50 PM
@ Killiz: I usually figure a buy-sell split (and as the project matures, we'll be able to offer slightly better buy- and sell-prices on considerable quantities of CBX).
Will follow your lead Mark, as you have a better understanding and way more experience https://bitcointalksearch.org/topic/unobtanium-in-house-exchange-757232
Quote
@ Elambert. If I'm doing something simply wrong, I apologise: haven't received an activation email. Have tried the 'resend activation email' function a number of times.
Mark,
You are checking your spam/junk mail folder too?
What name are you registering under. I can try to assist on the back-end...
Can confirm my activation email was in my spam folder, will most likely be there.
January 26, 2016, 12:31:13 PM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
So, everyone who's vault is open is getting .04, now.Let's celebrate!!!!
So, the more CBX one has, the more ".04s" he / she receives in a certain period of time?
For example, someone with 500 CBX might receive 2 x .04 in an hour, while someone with 5000 CBX will receive 20 x .04 in the same hour?
That is correct. 0.04 is the PoSP reward per block (target block time is 65 seconds). The more CBX you have staking, the more likely you are to get the next PoSP block.
Well you have to play around to find what works best but a good starting point (and the easiest move) if you have 5000 would be to send them all to one address so they all start off with the same age. 1 hour later, you will get your first PoSP block (as that is a substantial chunk of coin that will stake as a priority) and the 5000 CBX will be split into 2 groups of 2500 CBX. An our later those 2 groups will stake and then split again into 4 groups of 1250, etc.
Each time you stake, those CBX will continue to get split into 2 groups until they get to the 500 CBX threshold at which point they will stop splitting in half. Also, any groups of less than or equal to 500 CBX will be grouped together automatically by the Vault.
Another option would be to create 5 addresses and send 1000 CBX to each and let them start staking and splitting from there, etc.
One final question. So, if more people open and stake their wallets, is the .04 likely to go back down to .39 and lower?
January 26, 2016, 12:22:56 PM
@ Killiz: I usually figure a buy-sell split (and as the project matures, we'll be able to offer slightly better buy- and sell-prices on considerable quantities of CBX).
Will follow your lead Mark, as you have a better understanding and way more experience https://bitcointalksearch.org/topic/unobtanium-in-house-exchange-757232
EDIT: Been reading the above thread and love the trade for physical bullion idea, alongside BitcoinFX's PoV https://bitcointalksearch.org/topic/m.11746755 the actual trading of CBX and physical bullion would be an awesome option.
Quote
@ Elambert. If I'm doing something simply wrong, I apologise: haven't received an activation email. Have tried the 'resend activation email' function a number of times.
Mark,
You are checking your spam/junk mail folder too?
What name are you registering under. I can try to assist on the back-end...
Can confirm my activation email was in my spam folder, will most likely be there.
January 26, 2016, 11:44:07 AM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
So, everyone who's vault is open is getting .04, now.Let's celebrate!!!!
So, the more CBX one has, the more ".04s" he / she receives in a certain period of time?
For example, someone with 500 CBX might receive 2 x .04 in an hour, while someone with 5000 CBX will receive 20 x .04 in the same hour?
That is correct. 0.04 is the PoSP reward per block (target block time is 65 seconds). The more CBX you have staking, the more likely you are to get the next PoSP block.
Well you have to play around to find what works best but a good starting point (and the easiest move) if you have 5000 would be to send them all to one address so they all start off with the same age. 1 hour later, you will get your first PoSP block (as that is a substantial chunk of coin that will stake as a priority) and the 5000 CBX will be split into 2 groups of 2500 CBX. An our later those 2 groups will stake and then split again into 4 groups of 1250, etc.
Each time you stake, those CBX will continue to get split into 2 groups until they get to the 500 CBX threshold at which point they will stop splitting in half. Also, any groups of less than or equal to 500 CBX will be grouped together automatically by the Vault.
Another option would be to create 5 addresses and send 1000 CBX to each and let them start staking and splitting from there, etc.
January 26, 2016, 11:20:27 AM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
So, everyone who's vault is open is getting .04, now.Let's celebrate!!!!
So, the more CBX one has, the more ".04s" he / she receives in a certain period of time?
For example, someone with 500 CBX might receive 2 x .04 in an hour, while someone with 5000 CBX will receive 20 x .04 in the same hour?
That is correct. 0.04 is the PoSP reward per block (target block time is 65 seconds). The more CBX you have staking, the more likely you are to get the next PoSP block.
January 26, 2016, 11:18:27 AM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
So, everyone who's vault is open is getting .04, now.Let's celebrate!!!!
So, the more CBX one has, the more ".04s" he / she receives in a certain period of time?
For example, someone with 500 CBX might receive 2 x .04 in an hour, while someone with 5000 CBX will receive 20 x .04 in the same hour?
That is correct. 0.04 is the PoSP reward per block (target block time is 65 seconds). The more CBX you have staking, the more likely you are to get the next PoSP block.
January 26, 2016, 10:55:34 AM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
So, everyone who's vault is open is getting .04, now.Let's celebrate!!!!
So, the more CBX one has, the more ".04s" he / she receives in a certain period of time?
For example, someone with 500 CBX might receive 2 x .04 in an hour, while someone with 5000 CBX will receive 20 x .04 in the same hour?
January 26, 2016, 09:27:54 AM
14.1% Staking...
=
14.2% annual interest rate for those staking their CBX now! Quite a nice ROI versus the 2% annual inflationary growth of the money supply.
Load up and fire up your Vaults and get staking guys, great opportunity!
=
14.2% annual interest rate for those staking their CBX now! Quite a nice ROI versus the 2% annual inflationary growth of the money supply.
Load up and fire up your Vaults and get staking guys, great opportunity!
January 26, 2016, 09:25:36 AM
Quote
@ Elambert. If I'm doing something simply wrong, I apologise: haven't received an activation email. Have tried the 'resend activation email' function a number of times.
Mark,
You are checking your spam/junk mail folder too?
What name are you registering under. I can try to assist on the back-end...
January 26, 2016, 03:55:29 AM
CBX PoSP block gains have reached .04 just now...
Let's celebrate!!!!
Let's celebrate!!!!
January 26, 2016, 02:48:01 AM
[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.)
@Mark
Is there is any error message or number that popups in top right of page when on the site? I know one of the common ones that occurs "-50" and just means the computer clock has out of sync, quick sync to an internet time server will fix it. (https://banxcapital.zendesk.com/hc/en-us/articles/205061367--50-Error-Code-System-Time-Fix).
The other issue I've heard some have had is because the html5 websockets are being blocked on their end for some reason such as corporate firewall.
January 25, 2016, 08:33:55 PM
P2P trade proposition opened on the CBX forum http://forum.cryptobullion.io/index.php?topic=5014.msg5470#msg5470
[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.)
'All bitcoin proceeds from sales will be put into buy orders on exchanges supporting CBX.' Splendid model! And 'Coinmarketcap average price'? Great. I'll grab my calculator.
Mark
Mark,
Are you having trouble accessing the CBX forum?
@ Elambert. If I'm doing something simply wrong, I apologise: haven't received an activation email. Have tried the 'resend activation email' function a number of times.
@ Killiz: I usually figure a buy-sell split (and as the project matures, we'll be able to offer slightly better buy- and sell-prices on considerable quantities of CBX).
January 25, 2016, 12:59:59 PM
P2P trade proposition opened on the CBX forum http://forum.cryptobullion.io/index.php?topic=5014.msg5470#msg5470
[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.)
'All bitcoin proceeds from sales will be put into buy orders on exchanges supporting CBX.' Splendid model! And 'Coinmarketcap average price'? Great. I'll grab my calculator.
Mark
The average bitcoin price is below the large average Dollar price in centre of page IMZ.
http://coinmarketcap.com/currencies/cryptogenic-bullion/#markets
January 25, 2016, 10:34:23 AM
P2P trade proposition opened on the CBX forum http://forum.cryptobullion.io/index.php?topic=5014.msg5470#msg5470
[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.)
'All bitcoin proceeds from sales will be put into buy orders on exchanges supporting CBX.' Splendid model! And 'Coinmarketcap average price'? Great. I'll grab my calculator.
Mark
Mark,
Are you having trouble accessing the CBX forum?
January 24, 2016, 07:14:04 PM
P2P trade proposition opened on the CBX forum http://forum.cryptobullion.io/index.php?topic=5014.msg5470#msg5470
[Squirms in frustration] Long weekend here. Gotta get My Guy to help me figure out both the P2P exchange and Banx. (Still can't sign up on either.) Full of enthusiasm for P2P still! (Working up some reserves of CBX and Btc for the project.)
'All bitcoin proceeds from sales will be put into buy orders on exchanges supporting CBX.' Splendid model! And 'Coinmarketcap average price'? Great. I'll grab my calculator.
Mark
January 24, 2016, 02:44:54 PM
Random giveaway in IRC, http://webchat.freenode.net/?channels=#cryptobullion
Or even better, IRC within Vault, eligibility for staking after 1 hour http://cryptobullion.io/storage-use/
Post your address in IRC channel, not here!
Or even better, IRC within Vault, eligibility for staking after 1 hour http://cryptobullion.io/storage-use/
Post your address in IRC channel, not here!
January 24, 2016, 11:49:41 AM
P2P trade proposition opened on the CBX forum http://forum.cryptobullion.io/index.php?topic=5014.msg5470#msg5470
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