I guess there must be at least two parties involved and backing your own coins is harmless
Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 242. (Read 359514 times)
July 22, 2015, 05:15:36 PM
At what point becomes a coin a 'security', needing to comply with regulations, Fincen Sec etc.
I guess there must be at least two parties involved and backing your own coins is harmless
I guess there must be at least two parties involved and backing your own coins is harmless
July 22, 2015, 05:15:25 PM
CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.
CBX Wallet Address:
Code:
5WqSTfYrhL4j69XtCouMZtDM1QjeExwbH3
Message:
Code:
I raizor hereby back 100 CBX with 1 Troy Oz of .999 Fine Silver.
Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.
I hereby endeavour to provide a separate notification should I divest this personal holding.
Verify Message:
Code:
H9yVyldMkA7iRabSLnetX8k73olRJeCExSNti66pW7TtihmMMC9TM1Jo77dGdZZnbL2FemxRxKeygEcX4IBWiKQ=
Here's mine guys.
I've used my (1oz) silver CGB bullion bar and backed 100 CBX with that. Having just been through the process, it's given me a few ideas on adding some related functionality to the wallet. I think we should be able to auto-generate and print the certificates within the wallet. We could even have a 'create backing' function, that we could make available from a context menu when clicking one of your own addresses in the wallet. Something along the lines of 'back this address', perhaps. We could also have a 'create backing' menu item in the main wallet menu that takes you through the process. As I think about this, it becomes clear that we need to be able to lock the coins within the local wallet. Anyone not using Coin Control to send funds may inadvertently transfer their 'backed' funds without realising it and void the backing. I think we should be able to mark wallets as in use for backing and avoid them being selected for transactions. If we add a 'create backing' option, this could create a new named address in the local wallet and transfer the backing amount to the new address without excessive user interaction.
It feels good to have done this though. I think this is going to be very interesting as it unfolds. Thanks again BitcoinFX
raizor
July 22, 2015, 04:12:43 PM
Haha, I just realised I used less silver to back my CBX than you guys, sorry!
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
Perfect snatchmonkey - verified.
It really does not matter if people choose to back with less or more bullion than others.
As we progress with this we will reach some sort of price equilibrium from the data https://wikipedia.org/wiki/Economic_equilibrium
The actual total backed CBX precious metal 'value' amalgamated could eventually hold a higher value over the exchange price of CBX to Bitcoin or Litecoin, for example.
For now, anyone could back 1000 CBX with just a gram of copper or even 0.001 CBX with a 1 Kilo gold bar (if they can fit it on the A4 page)
If / when we start to reach a critical mass of backed CBX against the CBX remaining in circulation then this could get very interesting.
EDIT: The reference to price equilibrium is probably more accurately described as; "competitive quantity" or market clearing quantity - in relation to the economic principals of supply and demand.
"Properties of equilibrium
...
Equilibrium property P1: The behavior of agents is consistent.
Equilibrium property P2: No agent has an incentive to change its behavior.
Equilibrium Property P3: Equilibrium is the outcome of some dynamic process (stability)."
Thus, the CBX Proof-of-Value Network is a dynamic process to find price stability against precious metals and relative to Bitcoin (markets).
July 22, 2015, 03:41:44 PM
Haha, I just realised I used less silver to back my CBX than you guys, sorry!
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
Verified!
July 22, 2015, 01:54:03 PM
Haha, I just realised I used less silver to back my CBX than you guys, sorry!
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
Unfortunately these 5 poor little maple leafs are the only precious metals I own (besides my treasured Finite by Design Cryptogenic Bullion Bar). I hereby endeavour to correct this sorry state of affairs next time the opportunity arises.
Anyway, all done and correct?
July 22, 2015, 01:31:55 PM
CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.
CBX Wallet Address:
Code:
5dG7rGUqejEVSnqBrKiQT743P4QrqbN3s6
Message:
Code:
I snatchmonkey hereby back 1000 CBX with 5 Troy Oz of .999 Fine Silver.
Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX value network.
I hereby endeavour to provide a separate notification should I divest this personal holding.
Verify Message:
Code:
ILhnyDoSw6sqxQKXEKs0OfFbpnIIjI48h58cC5B4K2A+tu5a2nO1of6FSxJ+PzVbdjCIvw0kyH5zNNtlI2ZOaHI=
July 22, 2015, 08:46:13 AM
Good one elambert.
You have placed an extra space before the (I) in the message field above (currently).
However, the message will verify properly when the additional space is deleted, 'as is'.
Looks like you may have done this in a similar way to FiniteByDesign (using the document template provided) and probably copied the text over from the document directly into the CBX software message field, for convenience. Hence the extra paragraph settings.
It will be best to try and format the messages in plain text (with say notepad) without extra paragraphs, indents or spaces etc., anyway as long as the messages match the printed text and can be verified then we are good. No need to re-do at this stage, however when this starts to be done on mass and/or the data is being machine read and verified then this might well become more relevant. At least this helps to highlight some eventualities.
It will be best to start verifying posted messages with return screen shots of the verified message from the CBX software. So, Proof-of-Value Network Verification.
Anyway, once we have at least one more participant in the CBX Proof-of-Value Network Certification then I think we have the start of our fully decentralized network and thus can commence with Phase 2.
You have placed an extra space before the (I) in the message field above (currently).
However, the message will verify properly when the additional space is deleted, 'as is'.
Looks like you may have done this in a similar way to FiniteByDesign (using the document template provided) and probably copied the text over from the document directly into the CBX software message field, for convenience. Hence the extra paragraph settings.
It will be best to try and format the messages in plain text (with say notepad) without extra paragraphs, indents or spaces etc., anyway as long as the messages match the printed text and can be verified then we are good. No need to re-do at this stage, however when this starts to be done on mass and/or the data is being machine read and verified then this might well become more relevant. At least this helps to highlight some eventualities.
It will be best to start verifying posted messages with return screen shots of the verified message from the CBX software. So, Proof-of-Value Network Verification.
Anyway, once we have at least one more participant in the CBX Proof-of-Value Network Certification then I think we have the start of our fully decentralized network and thus can commence with Phase 2.
Thanks for the feedback. We will have to look into automating as much of this as possible but nonetheless, this is extremely exciting and promising!
Great work and thanks for leading the charge!
July 22, 2015, 06:49:37 AM
Good one elambert.
You have placed an extra space before the (I) in the message field above (currently).
However, the message will verify properly when the additional space is deleted, 'as is'.
Looks like you may have done this in a similar way to FiniteByDesign (using the document template provided) and probably copied the text over from the document directly into the CBX software message field, for convenience. Hence the extra paragraph settings.
It will be best to try and format the messages in plain text (with say notepad) without extra paragraphs, indents or spaces etc., anyway as long as the messages match the printed text and can be verified then we are good. No need to re-do at this stage, however when this starts to be done on mass and/or the data is being machine read and verified then this might well become more relevant. At least this helps to highlight some eventualities.
It will be best to start verifying posted messages with return screen shots of the verified message from the CBX software. So, Proof-of-Value Network Verification.
Anyway, once we have at least one more participant in the CBX Proof-of-Value Network Certification then I think we have the start of our fully decentralized network and thus can commence with Phase 2.
You have placed an extra space before the (I) in the message field above (currently).
However, the message will verify properly when the additional space is deleted, 'as is'.
Looks like you may have done this in a similar way to FiniteByDesign (using the document template provided) and probably copied the text over from the document directly into the CBX software message field, for convenience. Hence the extra paragraph settings.
It will be best to try and format the messages in plain text (with say notepad) without extra paragraphs, indents or spaces etc., anyway as long as the messages match the printed text and can be verified then we are good. No need to re-do at this stage, however when this starts to be done on mass and/or the data is being machine read and verified then this might well become more relevant. At least this helps to highlight some eventualities.
It will be best to start verifying posted messages with return screen shots of the verified message from the CBX software. So, Proof-of-Value Network Verification.
Anyway, once we have at least one more participant in the CBX Proof-of-Value Network Certification then I think we have the start of our fully decentralized network and thus can commence with Phase 2.
July 21, 2015, 05:25:21 PM
CBX Proof-of-Value Network Certification - Building a Decentralized Value Network using the CBX blockchain.
CBX Wallet Address:
Code:
5ZD5K59kfWk2c9V1MGbSxJLDSgGwXfXKZx
Message:
Code:
I elambert hereby back 1000 CBX with 1.0001 troy ounce of .9999 Fine Gold (2006 American Buffalo One Ounce Gold Proof Coin).
Should I divest either my CBX and/or physical bullion holding then this statement is automatically considered null and void within the CBX Value Network.
I hereby endeavour to provide a separate notification should I divest this personal holding.
Verify Message:
Code:
Hym8ugHrcOtFj7ugaBedf6+2RBD3PRytEmT0/YiP3iCrtNqoWTLqvCuUXw8XMYMoYc1JqHXpmqz2O7olTwnZ0dQ=
Count me in!
July 21, 2015, 01:32:36 PM
Evening all, would be good to get CBX on a few more exchanges, has anyone submitted this form to Poloniex before? (love this exchange!)
FR
https://poloniex.com/coinRequest
FR
https://poloniex.com/coinRequest
Poloniex is nice. Feel free to submit id say.
Bittrex just changed the way coins get listed it seems.
Submitting A Coin To Bittrex - Updated 07/20/15
https://bittrex.zendesk.com/hc/en-us/articles/202583854-Submitting-a-Coin-to-Bittrex-Updated-07-20-15
July 21, 2015, 01:29:00 PM
Evening all, would be good to get CBX on a few more exchanges, has anyone submitted this form to Poloniex before? (love this exchange!)
FR
https://poloniex.com/coinRequest
FR
https://poloniex.com/coinRequest
July 20, 2015, 07:52:23 PM
good direction, i heard of this on http://lrn.fm/ hey, maybe get an interview with ernest hancock from here ?
he had david irvine on, from maidsafe......ernest is cool, he interviews people from the crypto world his website :
https://www.freedomsphoenix.com/
he had david irvine on, from maidsafe......ernest is cool, he interviews people from the crypto world his website :
https://www.freedomsphoenix.com/
July 20, 2015, 10:43:48 AM
I have sent an expression of interest request for Co-Branding ShireSilver.com physical bullion cards to Shire Silver.
- https://shiresilver.com/catalog/merchant/co_branding_fee
These cards would be fantastic for entry-level users to the CBX Proof-of-Value Network and its also great advertising.
Thinking that this could be crowd-funded through startjoin.com - offering some cards as rewards etc.,
- https://shiresilver.com/catalog/merchant/co_branding_fee
These cards would be fantastic for entry-level users to the CBX Proof-of-Value Network and its also great advertising.
Thinking that this could be crowd-funded through startjoin.com - offering some cards as rewards etc.,
July 20, 2015, 09:01:46 AM
I wonder what Bill Still would have to say
about a project like CBX
about a project like CBX
July 20, 2015, 08:53:04 AM
Twitter updated https://twitter.com/CryptoBullionX
July 20, 2015, 08:20:57 AM
Excellent work Bullionaires! Added mention of the Proof-of-Value network to OP.
Thank you. I'm continuing to work on the detail for this concept and the relevant documentation for community review. It will take a while as some research is also being completed.
Nothing whatsoever to stop others backing their own CBX with their own physical bullion and contributing to the inception of said decentralized proof-of-value network in the meantime though!
- Wondering how a rare crypto-currency such as Crypto Bullion (Est. 2013), now being backed by decentralized gold and sliver, with good trading volumes at Cryptsy is not yet listed on other crypto exchanges such as Bittrex and even Bleutrade ?
July 20, 2015, 06:19:57 AM
Btcat! I hoped you were still in orbit. Me just passing through.
Actually, blogging at Cryptomoms; but our 'hang-out' is: http://cryptoguild.com
For those who don't know IMZ, we are Australian krypto geeks who don't squabble (so much) over individual currencies. (Unobtanium is our 'home-base coin' -- that's why I was writing about 'commodity' cryptos.)
CBX's stats lookin' real good, but a pretty big buy-sell split. (We had a great otc exchange running for ages. Had to close it -- odd story. But the principle is fine -- would serve you guys really well.)
Mark
Actually, blogging at Cryptomoms; but our 'hang-out' is: http://cryptoguild.com
For those who don't know IMZ, we are Australian krypto geeks who don't squabble (so much) over individual currencies. (Unobtanium is our 'home-base coin' -- that's why I was writing about 'commodity' cryptos.)
CBX's stats lookin' real good, but a pretty big buy-sell split. (We had a great otc exchange running for ages. Had to close it -- odd story. But the principle is fine -- would serve you guys really well.)
Mark
July 20, 2015, 04:02:24 AM
IndiaMikeZulu in da house. (New names I see -- but there's Elambert!)
Mentioned you guys in a post today, at the bottom of the page:
http://cryptomoms.com/forum/cryptomoms-com/5/crypto-kindergarten/537/210
Checked your charts. Lookin' good!
[And IMZ now has a sort of long-term-coiners hang-out established. PM me if you wanna drop in, especially Australians! Seems trollish to post a link.]
Mark, Western Australia
Mentioned you guys in a post today, at the bottom of the page:
http://cryptomoms.com/forum/cryptomoms-com/5/crypto-kindergarten/537/210
Checked your charts. Lookin' good!
[And IMZ now has a sort of long-term-coiners hang-out established. PM me if you wanna drop in, especially Australians! Seems trollish to post a link.]
Mark, Western Australia
Hi IMZ. Good to see you back
Thanks for the mention, good you're hanging out with cryptomoms. Post your link too so people can check it out.
July 20, 2015, 01:39:34 AM
IndiaMikeZulu in da house. (New names I see -- but there's Elambert!)
Mentioned you guys in a post today, at the bottom of the page:
http://cryptomoms.com/forum/cryptomoms-com/5/crypto-kindergarten/537/210
Checked your charts. Lookin' good!
[And IMZ now has a sort of long-term-coiners hang-out established. PM me if you wanna drop in, especially Australians! Seems trollish to post a link.]
Mark, Western Australia
Mentioned you guys in a post today, at the bottom of the page:
http://cryptomoms.com/forum/cryptomoms-com/5/crypto-kindergarten/537/210
Checked your charts. Lookin' good!
[And IMZ now has a sort of long-term-coiners hang-out established. PM me if you wanna drop in, especially Australians! Seems trollish to post a link.]
Mark, Western Australia
Thank you... a good idea that helps a lot!
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