Topic: Bullion (CBX) 'the Digital Precious Metal' | 2019 Roadmap published - page 55. (Read 359514 times)

nice upside simmering

It only takes investors and good common use of the currency to create market volume.

Thanks for the explanation. Now i understand fully. Good to know the fundamentals of CBX. Enjoying being part of CBX so far. Success on the roadmap. Looks like you have a lot to handle these couple of months!

Everything else being equal, inflation indeed theoretically induces a reduction of value to existing money supply.

That being said, "everything else being equal" never applies to CBX, as its community grows by much more than 2% yearly; so new community members gobble up that 2% created pretty quickly.

Also, inflation is a necessary evil as there has to be an economic incentive for people to keep their Vaults online and staking - staking is how blocks are formed and transactions made public, the backbone of a decentralized currency.

I would like also to add that the current staking reward is around 8% officially, but because it's not everybody who is staking that can keep their Vaults online 100% of the time my personal yearly interest is closer to 10% actually.

Please see most recent update below:

It sounds as though you have it my friend. Although I do not quite understand your once sentence (below), but this is probably just due to terminology used.

"Does that mean to counterfait the devaluation of the price of CBX we get 2% interest."

CBX inflation rate is 2% per year on overall money supply.
CBX interest earnings rate (via PoSP) is the distribution of this 2% inflation among the actively staking wallets at any given time.

Thank you. For my understanding 2% inflation rate is the same as 2% more CBX every year? So the supply of CBX is increasing 2% a year? Does that mean to counterfait the devaluation of the price of CBX we get 2% interest. But in this case the 2% interest is being distributed amongst the people who are actively staking which are 1/4 of the network, thereby receiving 4 times that amount, thus 8%.

Do i understand it correctly or not?

some update about progress of roadmap?

Yes, you must keep your Vault (wallet) open and unlocked for staking in order to receive the interest earnings.

The way PoSP is able to pay out  a higher interest rate (currently 8% per year) than the rate of inflation (2% per year) is because only active staking Vaults are eligible to earn interest at any given time. So essentially what is happening when the interest earning rate is 8% per year is that only 1/4 of the network is staking and therefore they are earning the entire 2% inflation rate amongst themselves. The other 3/4 of the network that is not actively staking is forfeiting their potential interest earnings.

Please note that the earnings rate can and does fluctuate based off network participation.

Question about staking, you say staking pays 8% yearly. Does it mean that you have to have your wallet open 24/7? So you dont close your pc or laptop?

Thanks! Its synchronizing to the network now. So it will almost good to go i think

There are a few entries for this contest; the 500$ will be paid in BTC, according to value of US dollar at the moment of payment; we had agreed to postpone the contest until October 15th.

Good luck to participants; for all others there is still time to create a simple service paid in CBX!

Sure Smoothmold! we are a helpful bunch, here

1) The link to download the latest official bootstrap is always in the OP, which is managed by the officials; we don't post it in the thread because people with bad intentions could technically try to fish people to use a tricked bootstrap - but here it is again for simplicity: http://node.alex4j.cryptobullion.io/bootstrap.zip

2) You have deleted all files in your Cryptobullion folder except wallet.dat, good.

3) Next thing is have you locked (encrypted) your CBX Vault? If your balance is zero then you don't have to, but if your balance is any number above zero you must encrypt your Vault (start Vault, use the Settings menu, "Encrypt Vault" - and careful not to forget the password you pick!

4) Close Vault. Keep the Roaming/CryptoBullion folder window open, and make sure it has not regenerated new files - delete any files there except for wallet.dat.

5) Decompress the bootstrap file (right-click the .zip file, decompress), and move all the decompressed files to the .../Roaming/CryptoBullion folder.

6) Restart Vault; do not unlock it if you have a positive balance, let your Vault sync itself - it should not take more than 2-3 hours

7) Once synced, you will see a green checkmark on the bottom right of the Vault window - unlock it (click on blue padlock, for staking) and begin to benefit from the lucrative CBX staking! Leave your Vault open and synced; staking pays 8% yearly, these days (while CBX inflation is 2%).

Can't wait for Vault 3.0 to come out with all these syncing issues resolved!

Welcome to the CryptoBullion family...

Thanks.

Unfortunately, i am technical novice. I have my question in red. Hopefully someone can help me.

hi, try this

1. delete everything is appdata/roaming/crytobullion folder except wallet.    yes i have deleted everything in de cryptobullion folder expect wallet.dat file
2. download the latest boostrap and extract in that dir. can someone explain step by step what i should do? I dont understand this lol
3. if you using wifi connection make sure your router supports UPnP and its enabled.(sometimes its not enabled by default)
4. start the vault, first it might show no connections but keep it open for sometimes.. it took me about 30-40 mins to get connections.
5. Dont unlock wallet for staking before complete sync.

also did you try out the cbx tool where they have the option of starting the vault with some pre defined nodes.

I will be in

Dear Vonpass,

how goes the website bounty, does it pay in dollars or cbx, the 500$. im excited about it, hope i win it are there any one else doing this , have not seen any other post yet?

Vault 3.0 will require 2000 CBX to form a BPN, see poll above; regarding Roadmap's currently envisioned timeline, see OP of this thread.

As for CBX's trading "issues", there are no simple solutions or predefined recipes for success. What will solve these volatility issues is a bigger community, more people buying CBX. A bigger community will result in CBX getting listed on more exchanges, while getting a big bump in price in the process. Vault 3.0 is about reaching a bigger community, for a sustainable better value.

CBX brings you a scarcity, with so few in circulation and with such a low price (2 million$ market cap), it really won't be hard for its value to shoot up, but as you have realized, there are no guarantees. Also, CBX brings you a 4 year-old blockchain with a spotless history - there has been ups and downs, but no evil stuff.

The decision to join CBX is up to you, while many people would rather buy a coin that is already expensive.

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Wallet 2.4.3 is very robust, once synced. It's getting in sync that can be challenging - this is an issue Vault 3.0 will positively adress.  A stuck wallet points to a Blockchain gone on a fork and not finding connections on that wrong fork - I suggest you reload bootstrap as per aizzaku's post on this page (https://bitcointalksearch.org/topic/m.22167188).

Do not try to sync CBX without using the bootstrap, it will not work.

Most important thing while syncing is "Do not try to stake" until fully synced, because this is mainly how forks happen. So, either sync with an empty wallet or encrypt your wallet that holds coin. Using the most current bootstrap from the OP of this thread, it's a two hour process once downloading the bootstrap has completed.

Unfortunately i havent received in answer to both of my questions.

Also, i tried to download the wallet yesterday for windows. It dont sync properly. It is stuck somewhere syncing in the middle. If you guys cant even get a wallet functioning properly, what can i except from you delevering your roadplan?

Not trying to fud. Just making a observation. Especially since you have been around for years i would think a proper wallet would be no problem. I was thinking of investing in this coins. But this gives me no confidence yet

We will keep this community informed over the next weeks.

Roadmap 2017 status report!

Well, the new BPN Vault 3.0 cannot synchronise with the old CBX blockchain, which is something we did not anticipate, and after some debugging we have found out that we need to review how the Vault 2.4.3 is hashing for the PoSP block targets, and incorporate this into Vault 3.0.

Naturally, this is what we are working on right this moment, we will keep you posted as developments arise, following our commitment to transparency.