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Topic: Historic Cryptogenic Bullion thread - CLOSED - page 15. (Read 286590 times)

legendary
Activity: 1960
Merit: 1010
Keep voting CGB on exchanges:

every hour:
https://crypto-trade.com/voting
https://www.swisscex.com/voting

every 10 minutes possible
https://askcoin.net/votes
sr. member
Activity: 346
Merit: 255
A range of exquisitely clear Fact Sheets would be a great asset.  More and more Ordinary People will cruise by as cryptos go mainstream, and it is up to us to get them to stop and chat at our stall.

And don't miss the coindesk article on Mexico.

Mark, Western Australia

+1.00000000
IMZ
legendary
Activity: 1498
Merit: 1000
A range of exquisitely clear Fact Sheets would be a great asset.  More and more Ordinary People will cruise by as cryptos go mainstream, and it is up to us to get them to stop and chat at our stall.

And don't miss the coindesk article on Mexico.

Mark, Western Australia
legendary
Activity: 1696
Merit: 1008
"Annual" interest has been clarified on the OP and on the website. Apologies for any confusion. Please let me know if I missed anything. Also, added a site-wide notification to announce the completion of the CGB inflationary stage and settling in to the locked in maximum of 2% yearly inflation! Great times ahead!

Quote
CGB 1-year inflationary stage competed on July 13, 2014! Less than 1 million CGB in circulation with a maximum inflation rate of 2% going forward!
sr. member
Activity: 266
Merit: 250
At these prices I'm becoming a CGB baby whale.  Hurray. I noticed that it takes 200 confirmations when depositing coins to Cryptsy.  For me this makes me think twice before selling my coins, which is a good thing.  LOL 

I'm not sure I would change any fundamentals about this coin except I would try to be more clear to people about the staking.  There was some confusion on my part on how often you had to stake to get the full 1.5% of the total 2% inflation from POS.  Is it every 30 day or every 90 days? 

So just to be clear for those who may be new to this coin or Cryptocurrencies in general.  This coin is a Proof of Stake/Proof of Work hybrid with 2% capped inflation rate and less than 1 million coins currently.   1.5% inflation you can claim by staking (proof of stake) and .5% inflation goes to miners (proof of work).  That means you can claim for free 75% of the total inflation of the coin by simply opening and unlocking your wallet every 90 days metronomically.   What other financial security lets you do that?  In addition you have the option to mine your share of the other .5% inflation.   This system is preferable to pure proof of work coins such as Bitcoin and Worldcoin which have no proof of stake feature but have a cap on the total number of coins, but in the short term have massive inflation decreasing slowly over time.  If I invest in Worldcoin there are 100,000 new coins hitting the market every couple of days and I have no right to claim any of that devaluation.  That's the same as hyperinflation even if only temporary.  That's why coins such as Worldcoin are great for spending but not great as an investment and CGB is great as an investment.  CGB is also preferable to pure proof of stake coins as it still reaps the benefits of mining to secure the network yet the rewards are low enough from mining so as to not worry about miners manipulating the price by dumping on the market. 


CGB is pure genius. It is by far my favorite crypto security so far.   I wouldn't change anything really about the coin.  This coin does not need gimmicks or a flashy wallet etc. Now it's just a matter of telling people about it.  All it takes is one new mutual fund adding CGB to their portfolio to raise the market cap significantly.   I really don't understand people selling right now unless it is to me.  Thank you very much.

coininvestor! That's some seriously quality observation! I agree about the staking explanation. It's a question that comes up all the time. I should log in and see if my order is filled. It's at such a great price and even still you can get a larger pile by picking strategic support positions and waiting. Then again you might miss the train!!!! Cheesy
legendary
Activity: 1672
Merit: 1010
Nice listing. Checked the site, seems they offer the same buy/sell orders on all different coins. So if you set 10 CGB for sale for BTC you can still buy that order with DOGE or any other listed coin.
Seen any other exchange where they do this instead of seperate markets? Perhaps a smart way to get some extra income.

I really like that it's run by students and they come out this way. In Netherlands probably the largest BTC sales company is run by 3 students as well (Bitonic.nl), they have a very reliable business.

ANX does it with their BTC/FIAT markets, they convert the orderbook to the users local/specified currency derived from their USD exchange rate (AUD, USD, EURO, HKD etc) instead of them being separate markets. Because of AML/KYC it still requires completing their verification process, so good for some, not so much for me. But it is a elegant way to avoid having separate orderbooks or having empty markets while still supporting all the different FIAT currencies in the world.
full member
Activity: 128
Merit: 100
At these prices I'm becoming a CGB baby whale.  Hurray. I noticed that it takes 200 confirmations when depositing coins to Cryptsy.  For me this makes me think twice before selling my coins, which is a good thing.  LOL 

I'm not sure I would change any fundamentals about this coin except I would try to be more clear to people about the staking.  There was some confusion on my part on how often you had to stake to get the full 1.5% of the total 2% inflation from POS.  Is it every 30 day or every 90 days? 

So just to be clear for those who may be new to this coin or Cryptocurrencies in general.  This coin is a Proof of Stake/Proof of Work hybrid with 2% capped inflation rate and less than 1 million coins currently.   1.5% inflation you can claim by staking (proof of stake) and .5% inflation goes to miners (proof of work).  That means you can claim for free 75% of the total inflation of the coin by simply opening and unlocking your wallet every 90 days metronomically.   What other financial security lets you do that?  In addition you have the option to mine your share of the other .5% inflation.   This system is preferable to pure proof of work coins such as Bitcoin and Worldcoin which have no proof of stake feature but have a cap on the total number of coins, but in the short term have massive inflation decreasing slowly over time.  If I invest in Worldcoin there are 100,000 new coins hitting the market every couple of days and I have no right to claim any of that devaluation.  That's the same as hyperinflation even if only temporary.  That's why coins such as Worldcoin are great for spending but not great as an investment and CGB is great as an investment.  CGB is also preferable to pure proof of stake coins as it still reaps the benefits of mining to secure the network yet the rewards are low enough from mining so as to not worry about miners manipulating the price by dumping on the market. 


CGB is pure genius. It is by far my favorite crypto security so far.   I wouldn't change anything really about the coin.  This coin does not need gimmicks or a flashy wallet etc. Now it's just a matter of telling people about it.  All it takes is one new mutual fund adding CGB to their portfolio to raise the market cap significantly.   I really don't understand people selling right now unless it is to me.  Thank you very much.
legendary
Activity: 1960
Merit: 1010
Nice listing. Checked the site, seems they offer the same buy/sell orders on all different coins. So if you set 10 CGB for sale for BTC you can still buy that order with DOGE or any other listed coin.
Seen any other exchange where they do this instead of seperate markets? Perhaps a smart way to get some extra income.

I really like that it's run by students and they come out this way. In Netherlands probably the largest BTC sales company is run by 3 students as well (Bitonic.nl), they have a very reliable business.
legendary
Activity: 1696
Merit: 1008
New exchange Cryptilla trading CGB along with 7 other coins. The site looks nice. Anyone familiar?

https://cryptilla.com

Edit: found this article on the team behind it http://utdailybeacon.com/news/2014/apr/25/students-cash-digital-currency/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheDailyBeacon+(The+Daily+Beacon)
IMZ
legendary
Activity: 1498
Merit: 1000
I second Btcat"s logic. It is what is behind the idea of 'consultancy' that I am arguing for. Majormax -- a much more senior CGB-er than me -- finally said it out aloud a few posts ago : 'survival or extinction'

That is, CGB may BE 'an investors'coin,' but that doesn't mean we can sit about, waiting for those investkrs to find us. We need to elbow our way to the front of the stage. Forthwith.

Mark, Australia
legendary
Activity: 1397
Merit: 1022
I emailed about CGB to added to Crypto-Trade, they have just finished a complete upgrade/makeover after 1 year of operation and the new CryptoTrade v2 is looking fantastic.  

Got a reply and they said CGB will be added to their new voting page. Only 2 coins so far to vote on and I think they are just there so it wasnt empty Cheesy.  



One HUGE benefit with CT is that verification is neither asked for or required for users to trade FIAT, so if enough support could be found a potential CGB/USD could be added in addition to a CGB/BTC (they already offer BC/USD, LTC/USD, CINNI/USD to name a few).

They also have a commission free voucher system that allows creation of a voucher code instead of withdrawing to address.  eg: i can "withdraw" to generated code 2 CGB, give that code to someone, later on they can redeem the full value of the code I made for them to their CT account instantly.  

Some other features of CryptoTrade are its messaging system, Securities/Investment platform, and an API.  Smiley

Winning altcoin gets added next week I believe, so CGB has a great chance right now to be added on established exchange with some great features and benefits not found elsewhere.







Looks like voting has opened for CGB! Next coin to be added will be Aug 3rd. Let's get voting!!! You need 3 trades to vote and then can vote once every hour https://crypto-trade.com/voting



CGB leading the voting! This would be an excellent alternative to Cryptsy IMO. Voting hourly!
legendary
Activity: 1696
Merit: 1008
legendary
Activity: 1960
Merit: 1010
If a coin have 10%, 100% or 1,5% annually POS interest is completely irrelevant. Your total % of the money supply will be the same either way. But you will problably be much better of with CGB and 1,5% since there will be fewer people minting for that low interest. With fewer minting your total % of the money supply will increase.

Coins that give stake 5% or more annually or even more, those coinprices will sink just as hard and you will end up with a loss. It's designed to look attractive to invest in but in the end you risk it all. The most extreme example of this is probably CENT that was sort of a joke coin (not for everyone), it staked like 1000% per month, total coins around in the end was 43 trillion I recall and the price went to the lowest LTCsat or even lower paired with DOGE.
Some people say the low stake % is not attractive, I say it's quite the opposite because there won't be as many coins minted and the coin becomes more rare so the price can actually rise while people are staking. So CGB has 1.5% annual growth from POS and 0.5% from POW. I think it's gonna be very rewarding to hold this coin longterm and many CGB'ers understand this. People currently selling at this pricelevel are fools giving away their investment for peanuts.
hero member
Activity: 779
Merit: 502
The wallet seems to use 3% of my cpu (a Haswell). Not minting, 7/8 connections.
Is it supposed to? Or a feature to be ironed out?
It's in the OP:
"To qualify for interest an investor must keep their funds unspent in their wallets for a minimum of 30 days (for 1.2% interest), and up to a maximum of 90 days (1.5% interest)."
You don't need to have the wallet open all period, just keep your coins in.

But maybe something as simple as a competition where people post screens shots where they have solved a POS block, and a random winner is picked for a prize?

I like this idea of promoting minting from POS. The more coins in personal wallets the better. Banks provide some interest on savings but now crypto's can perfectly do this too, people should be more aware of this so they can store more of their 'money' in other ways. Not put all in one basket they say and a bank is just one basket.

I thought another payment provider for crypto's, but it does something else, seems to work with Coinpayments: http://www.picca.co.uk/
Btw has updated design and all, looking good: https://www.coinpayments.net




Development Workshop - CGB PoW/PoS Hybrid Security Model - Protocol Improvements

Please also see the Reddit post for further discussion.

PoS security participation is a very important consideration. The next client rebalances the minimum times to 1 week (1.2%) and 30 days (1.5%), but of course discussion is ongoing. The intent of this is to bring in more PoS blocks. This, combined with merged mining on the PoW side (hybrid) should provide for a more robust security stance.

I had another idea that we could have the protocol reward all unclaimed interest at each block to the winner of the minting process. So they would receive the standard 1.2 or 1.5%, plus the interest accumulation for that block (or tick), of all wallets who are sitting yet again unclaimed while already at max return. Some fundamentals: Currently CGB rewards 1.5% every 90 days, or quarterly. If we wait for a year to mint, we will only receive one quarter's interest, even though we saved it for a year.

In this scenario, that interest that could have been claimed for the other 3/4 of the year will have gone to active participants as a greater reward, without diminishing the *intended* inflationary profile of CGB. In the current environment, we know that all coins are not being used for minting. This affects the 1.5% (out of 2% total) of our target inflation. I am sure the exact data can be pulled from the blockchain (and would encourage anyone capable to give it a try). So we can say for sure that this measure would increase inflation, from whatever its at (likely below 1.2% I would guess), to the intended range of between 1.2 and 1.5% depending on which timeline is more popular.

This is a small detail but CGB was mined into existence, with a flow still being produced via PoW security. We now take this existing CGB and create new CGB in the form of interest. The parallel with gold and silver coin production here is why I prefer to use the term "minting," but staking is OK too. An interesting thing to note about PoS minting is that the interest provided is what they call a zero sum game. This means that for a real increase in the value of your holdings, someone else had to not mint their coins, thus giving you relatively more. In other words, if everyone got 1.5% interest, the relative value of all holdings would remain unchanged.

If a system like this were to be implemented, we could see a real boost in payoffs for winning a PoS block. It may even spur competition to spread the most coin age across available blocks to try and win more blocks, and not just focus on your plain interest. I think we could see bigger wallets broken down to competitive sizes. Hmm... Had not yet thought this part through too much yet. Suggestions welcome.

Pros and cons of adjusting the reward itself have been discussed here.

papersheepdog, Canada


I am confused now and forgive me if this has been asked a million times before but is the 1.5% interest per year or per quarter?  You said in the above post that Currently CGB rewards 1.5% every 90 days, or quarterly, but I have read elsewhere that interest is 1.5% annually.  If it were 1.5% quarterly then that is more like 6% annually.  So just to be clear, if I left my wallet open and staking continually what would the interest be?  My next question is if the interest is only 1.5% per year, is there a reason why it is so low.  What would be the advantage to me as an investor investing in CGB over a coin which offers 5% or 10% per year?

1,5% i annually, but to achive it you must mint when the coin age is exactly 90 days. If you mint every 30 days you get 1% annual interest.

If a coin have 10%, 100% or 1,5% annually POS interest is completely irrelevant. Your total % of the money supply will be the same either way. But you will problably be much better of with CGB and 1,5% since there will be fewer people minting for that low interest. With fewer minting your total % of the money supply will increase.
full member
Activity: 128
Merit: 100
The wallet seems to use 3% of my cpu (a Haswell). Not minting, 7/8 connections.
Is it supposed to? Or a feature to be ironed out?
It's in the OP:
"To qualify for interest an investor must keep their funds unspent in their wallets for a minimum of 30 days (for 1.2% interest), and up to a maximum of 90 days (1.5% interest)."
You don't need to have the wallet open all period, just keep your coins in.

But maybe something as simple as a competition where people post screens shots where they have solved a POS block, and a random winner is picked for a prize?

I like this idea of promoting minting from POS. The more coins in personal wallets the better. Banks provide some interest on savings but now crypto's can perfectly do this too, people should be more aware of this so they can store more of their 'money' in other ways. Not put all in one basket they say and a bank is just one basket.

I thought another payment provider for crypto's, but it does something else, seems to work with Coinpayments: http://www.picca.co.uk/
Btw has updated design and all, looking good: https://www.coinpayments.net




Development Workshop - CGB PoW/PoS Hybrid Security Model - Protocol Improvements

Please also see the Reddit post for further discussion.

PoS security participation is a very important consideration. The next client rebalances the minimum times to 1 week (1.2%) and 30 days (1.5%), but of course discussion is ongoing. The intent of this is to bring in more PoS blocks. This, combined with merged mining on the PoW side (hybrid) should provide for a more robust security stance.

I had another idea that we could have the protocol reward all unclaimed interest at each block to the winner of the minting process. So they would receive the standard 1.2 or 1.5%, plus the interest accumulation for that block (or tick), of all wallets who are sitting yet again unclaimed while already at max return. Some fundamentals: Currently CGB rewards 1.5% every 90 days, or quarterly. If we wait for a year to mint, we will only receive one quarter's interest, even though we saved it for a year.

In this scenario, that interest that could have been claimed for the other 3/4 of the year will have gone to active participants as a greater reward, without diminishing the *intended* inflationary profile of CGB. In the current environment, we know that all coins are not being used for minting. This affects the 1.5% (out of 2% total) of our target inflation. I am sure the exact data can be pulled from the blockchain (and would encourage anyone capable to give it a try). So we can say for sure that this measure would increase inflation, from whatever its at (likely below 1.2% I would guess), to the intended range of between 1.2 and 1.5% depending on which timeline is more popular.

This is a small detail but CGB was mined into existence, with a flow still being produced via PoW security. We now take this existing CGB and create new CGB in the form of interest. The parallel with gold and silver coin production here is why I prefer to use the term "minting," but staking is OK too. An interesting thing to note about PoS minting is that the interest provided is what they call a zero sum game. This means that for a real increase in the value of your holdings, someone else had to not mint their coins, thus giving you relatively more. In other words, if everyone got 1.5% interest, the relative value of all holdings would remain unchanged.

If a system like this were to be implemented, we could see a real boost in payoffs for winning a PoS block. It may even spur competition to spread the most coin age across available blocks to try and win more blocks, and not just focus on your plain interest. I think we could see bigger wallets broken down to competitive sizes. Hmm... Had not yet thought this part through too much yet. Suggestions welcome.

Pros and cons of adjusting the reward itself have been discussed here.

papersheepdog, Canada


I am confused now and forgive me if this has been asked a million times before but is the 1.5% interest per year or per quarter?  You said in the above post that Currently CGB rewards 1.5% every 90 days, or quarterly, but I have read elsewhere that interest is 1.5% annually.  If it were 1.5% quarterly then that is more like 6% annually.  So just to be clear, if I left my wallet open and staking continually what would the interest be?  My next question is if the interest is only 1.5% per year, is there a reason why it is so low.  What would be the advantage to me as an investor investing in CGB over a coin which offers 5% or 10% per year?
legendary
Activity: 1696
Merit: 1008
I emailed about CGB to added to Crypto-Trade, they have just finished a complete upgrade/makeover after 1 year of operation and the new CryptoTrade v2 is looking fantastic.  

Got a reply and they said CGB will be added to their new voting page. Only 2 coins so far to vote on and I think they are just there so it wasnt empty Cheesy.  



One HUGE benefit with CT is that verification is neither asked for or required for users to trade FIAT, so if enough support could be found a potential CGB/USD could be added in addition to a CGB/BTC (they already offer BC/USD, LTC/USD, CINNI/USD to name a few).

They also have a commission free voucher system that allows creation of a voucher code instead of withdrawing to address.  eg: i can "withdraw" to generated code 2 CGB, give that code to someone, later on they can redeem the full value of the code I made for them to their CT account instantly.  

Some other features of CryptoTrade are its messaging system, Securities/Investment platform, and an API.  Smiley

Winning altcoin gets added next week I believe, so CGB has a great chance right now to be added on established exchange with some great features and benefits not found elsewhere.







Looks like voting has opened for CGB! Next coin to be added will be Aug 3rd. Let's get voting!!! You need 3 trades to vote and then can vote once every hour https://crypto-trade.com/voting

legendary
Activity: 1397
Merit: 1022
Wheeee!!!
Yesterday sold silver bullion bar for CGB,  and bought beer and meat with CGB. Go, us!

Anecdote: had amazing conversation six months ago with a local accountant. He thought I was nuts. He recently visited the US. Now is a covert.
This morning I explained that indiamikezulu are actually 'altcoiners' Then he watched while I traded some cgb on cryptsy. Was amazed.

Mark, Australia

Ps: yes, Btcat. You are right.

Sounds like persistence has paid off IMZ! I would like to support and reward this effort by donating one of my physical Cryptogenic Bullion bars made out of 1 troy ounce of .999 fine silver to the IMZ team for resale, funding, showcasing, whatever allocation you decide. This is one of only 50 in existence so not many in circulation or available for purchase. Please email or pm me a shipping address and I will get the CGB bar packed and traveling! My email is [email protected]

hero member
Activity: 980
Merit: 1001
Wheeee!!!
Yesterday sold silver bullion bar for CGB...

Gotta hurt to look at the price today  Embarrassed
legendary
Activity: 1526
Merit: 1000
the grandpa of cryptos
scam coin since new 'devs' tookover.

stay away!
IMZ
legendary
Activity: 1498
Merit: 1000
Wheeee!!!
Yesterday sold silver bullion bar for CGB,  and bought beer and meat with CGB. Go, us!

Anecdote: had amazing conversation six months ago with a local accountant. He thought I was nuts. He recently visited the US. Now is a covert.
This morning I explained that indiamikezulu are actually 'altcoiners' Then he watched while I traded some cgb on cryptsy. Was amazed.

Mark, Australia

Ps: yes, Btcat. You are right.
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