Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 32. (Read 359514 times)

With a fixed amount of available masternodes, you can provide a fixed amount of interest. Put more variability into normal PoSP,  while allowing for queued nodes to earn it.

It's true that 12 hours is short. We might have a nasty surprise coming home from the weekend.  

Been thinking about this since Ben's second reply to my question.

Reading Cryptohunters statement I'm about to agree with him. I read that you will lose your BPN position if you haven't been staking for 12 hours.....

Thought this would be a good idea and would help turnover. But what about moving house and being without internet, powercuts, system crashes etc etc. 12 hours is not a long time in these circumstances. This will be a lot of equity at stake in the future. I think this time limit is far too short.

The fast turnover you mention is contradicting to the statement that people will keep hold of their active BPN if no interest is paid on queued BPN's.

The only solution I can see is for there to be a way to view your position in the queue, and total number of queued BPN's? To allow the investor the option to choose when to queue, or leave the queue to wait for a better time to join, and return to normal staking.

But I still feel it is better to pay normal PoSP rewards while queuing. Nobody is going to invest for a Masternode if they have to wait months or years to have any activity on it.

We have a few factors at play here and we have a very small 2% inflation of coins that can be used to reward coin investors. We have devised a 2 tier system that will reward a higher than the 2% inflation rate reward to PoSP stakers (estimated to be 3-6%) and then a higher reward for the next tier of BPN runners (estimated to be between 9-18%).

BPN: only 125 slots can ever exist here and each spot costs 2k CBX. For all spots to be filled, 1/4 of the total supply of CBX would have to be locked away. A BPN slot is retained until the associated address either drops below 2k CBX or has not staked in a 12 hour period. Either of those instances cause the BPN slot to be freed up for the next in line of the BPN queue. This design will assist in providing BPN turnover and keep the queue with some movement.

PoSP: all coin owners can stake via PoSP but as 75% of the network will be allowed to do this theoretically, we need to boost the reward to stakers somehow. We know that a portion of CBX has been lost over the years of existence through exchange closing, lost wallets, etc. Additionally there is a portion of owners who will keep coins at an exchange or stored away in cold storage. The other area where we can make up some additional compensation for PoSP stakers is by making the queue for BPN payout no reward.

It is important that we not only think of BPN compensation and growth at the expense of PoSP stakers. PoSP stakers are the 'little guys' who cannot afford a BPN, yet they are integral to the functioning and decentralization of the network. We want a large, diverse and welcoming network.

This is a difficult decision and debate and I understand your thoughts, but perhaps hearing more detail on the other side of the coin gives you further points to consider here.

Regarding coding time, we will have some better estimates here shortly but a large portion of the work is already completed with the mutex project that we have spoken of for some time.

I don't think that is a good idea .... I would think that would actually deter people psychologically even trying to accumulate the 2000 to start with.

I mean think about it. It seems like a lot of hoops now to get a masternode  compared to other projects.

Also sitting in this queue for weeks or months with 2000 coins (masternode amount that you paid a lot to accumulate) earning zero will encourage people to dump it back and get a masternode else where.

Psychologically it does not add up. I mean the smartest thing is  for everyone with 2000 coins to be in the queue and as their queue number ticks down they are less and less likely to sell. not have them sitting there pissed off they are getting nothing for months on end and leaving/selling out with a bad taste about cbx when other masternodes they own have been earning them good returns.

 And those in the masternode are only going to sell if they have too.

This is a bad idea if you ask me.

Possibly a reduced interest rate but even then I would not be bothering holding on to my 2000 coin parcel if i can trade in and out of cbx and earn lots more than the zero rate of waiting in a queue for months. 

Masternode owners may never vacate those slots so then the idea of keeping accumulating the magic 2000 just to get zero interest for months/years?? I don't think I would even bother queuing my coins and in that case why would i worry about even having 2000?

It is kind of damaging the entire reason for masternodes which is to accumulate and hold.

The queue is great but must earn full interest imho for it to achieve the desired results of making cbx a savers coin of increasing but stable value.

Also what time frame on this queue system and new masternode system. I mean it may sound a trivial thing but this to me sounds like a huge huge task and something quite novel. So are we talking weeks or months here?

Actually, allow me to revise my answer. After much internal deliberation we have arrived to the conclusion that queued inactive BPNs should not be earning reward until they are accepted in the 125.

There are two main reasons why we favored this: if at one point it becomes difficult to get an active BPN position, a BPN runner might think twice before selling his valuable CBX position and also the fact that while waiting for an active BPN position, those 2000 CBX removed are leaving more room for other people on the network to earn staking rewards. CBX is a 2% inflation project, so allowing more people to earn staking rewards is a desireable thing imo.

1) Each BPN will have its own unique address and hold 2k CBX. One can run multiple BPN and will be rewarded for each.

2) Wallet address.

Crickets unfortunately

Last update from them was that they were hoping for a soft launch in mid-February. I will check in with them in a couple of weeks to see how things are progressing if nothing official has occurred by that time.

@dev team

I have 2 questions

1) Let's say someone have 4000 bullions in one wallet but separated in two addresses (2k - 2k).
    This wallet considered as one or two masternode(s) ?

2) How the network recognizes the masternode(ID), by Client IP Address, by wallet address or something else ?
    I ask this cause i think many of the clients doesn't have static IP addresses and they must take actions to be prepared
    for participate in masternode queue.

many congrats for your efforts dev team, keep up...

Any info on when coinbook.com becomes live? Being listed on there is certainly going to be a big boost for CBX. From what I read on their website it looks like it's going to be quite a nice exchange.

The Bullionaires have spoken: the option preferred by the community regarding the upcoming Coinbook.com website is to not implement anonymity so we have the opportunity to be included in this promising platform. Locking this poll until we post another question.

I heard CBX will be installing 373.6 meter tall tesla coils 431.9 meters apart all over the globe. U shouldn't be far away from being continually fully charged, with fresh fried raccoon to eat while uploading your selfies in between.

That's good to hear Ben thanks

Got your answer: a queued BPN will stake normally and earn regular PoSP reward just as if it was with the other PoSP balance of the given user.

What is the advantage of this technology compared with the current wireless charging technology? how large is the valid range?

Did you get anywhere with this elambert?

Cool, thanks.

I think for the queueing system to work, investors should not be penalised, and forfeit their interest by doing so. A workaround should be found where locked away queued BPN's will still earn as normal.

Regarding the marketing, every community member and investor reading this, should start to prepare and help spread the word about CBX. Once the new vault is released, we 'all' need to do something to get the word around that CBX is back in business.
Tweeting, retweeting, Facebook posts, liking, sharing, posting in other threads, other forums, telegram channels, slack channels, etc, etc.
It is up to the community to make the most of this rebrand if we want the attraction we all know CBX deserves.
If people hear and read about something enough they will eventually look into it, and that's all we need, looking into......

Get ready folks, start thinking about how you will help spread the word in the coming weeks.

I'm personally looking forward to spamming those Pumpz groups on telegram 

Thanks.

Hi Killiz


Yes this is the game plan; the new Vault 3.0 alpha will include the fixes we have been waiting for, and provide a gradual implementation of new codebase with no hard fork at this stage.


Yes, we will make sure all Twitter, Facebook and Bitcointalk channels are well populated with the good news; word of mouth is best, however


Excellent question; lemme get back to you on that one...

Top notch reply Alex! thanks - sounds super cool and definitely some good USP as I've never heard of that being done before!

Cheers

FR