Great discussion guys, much appreciated. As always, it is nice to see the community taking interest!
Just an fyi, the team is discussing our plans for the future internally and I have just made a proposition to them. I will share it here because the community should know what is going on as well. This is a lofty plan, so it will take a group to make it work but it is all doable. Community feedback is of course welcomed and encouraged.
Good morning guys,
I have outlined my vision for CBX below. I do not think there is anything wrong with our tech. PoSP is awesome and “ours” – this is a strong benefit. Additional to this, I still do not see the niche that CBX was designed to fill being filled with the current crop of popular coins. This niche of course is for a scarce yet interest bearing digital storage of wealth. This is a need and it takes very few speculators getting involved for the market cap to grow substantially and thereby create a snowball effect of popularity. The issue is how do we get there from where we currently are?
Here is what I envision:
1. Address blockchain bloat. The CBX vault having run for years has created a monstrous blockchain. I suggest we restart the blockchain from 0. This would require a snapshot of all addresses and their balances which would be replicated in a genesis block of a new chain. I am not sure how the technical aspects and challenges go for this but I know other coins have done things along these lines so there is precedent that we can mimic.
2. Complete the Pi Project – this will allow people to invest in CBX and stake without having to run the memory hoarding CBX vault on their PC. This is an enormous obstacle that is preventing adoption in my opinion. For example, I rarely if ever stake despite having a substantial amount of CBX. With a Pi device running, I would. This would boost the strength of the network and make generating new CBX that much more difficult and therefore more valuable to those earning it. On top of this, the Pi Project would allow one to manage their Lite-Vault from a PC or even cell phone allowing for day-to-day real world usage of CBX. As an extension of this project we could sell preconfigured Pi devices and even custom CBX bullion bar style pi cases. Proceeds would of course go into buy orders further strengthening CBX market position.
3. Online staking service. Simply a service where people can send their CBX so it will be staked for them continually without any effort from them. Ideally people hold onto their own coin (that’s what crypto is about) but there will always be those that are lazy and we do not want to alienate anyone. The more users the better obviously. This staking service could expand to include other PoS coins that once they stake their profits are sold on a market in exchange for CBX so the end user gets paid in CBX rather than the coin they are staking. Mining could be incorporated in the same manner as this project grows. This would tie in nicely with Ben’s shitcoin faucet idea where one sends in coins they don’t want and receives back CBX (the selling of the old coin and purchase of the CBX is managed by the ‘faucet’.
4. CBXchange. This may not be necessary should we get listed on some good exchanges by this point in the timeline but if not, we make our own exchange. This would pair CBX with only the top tier coins (BTC, ETH, DASH, Monero, LTC, etc – whatever that list would contain).
I would love to hear all of your feedback on this outline. If we are in agreement, I think we should move forward with creating a roadmap for internal review. Then we need to determine how long each stage would take and what resources are needed to accomplish each. I just chatted with Alex briefly and he is just now getting to the point where a heavy workload of schooling will be alleviated freeing him up to contribute. Obviously, we need to make this worthwhile to him and the more help we can get him the faster we can get things done.
Anyway, I am really excited about this plan and think it is an excellent time to launch this seeing how crypto is doing presently. We have an amazing opportunity here and working together we can make this project a massive hit.
all great ideas... however a funding and voting mechanism would be great.
a cbx exchange where fees were used to buy back and burn cbx (after running costs of course) is a great plan indeed.
this way we can create a savings and accumulation incentive and give good POS rewards.
I would scrap posp myself.
It is a great achievement for sure. However cheaper and less dev to just use pos3 latest black build. PosP does not offer enough major improvement over just building up of pos3 which most devs are working with now.
you guys have a lot of trust here since you stuck around and have always tried with this coin.
I think your exchange would do well.
The exchange would have to list the new coins or it would never take off. Lots of new coins would jump at an exchange run by cbx owners.
Trust is majorly important