Topic: Historic Cryptogenic Bullion thread - CLOSED - page 158. (Read 286609 times)
Multipool has just listed CGB for mining. Woot.
CGB is now listed at https://coinex.pw
Great news! A new exchange! OP updated.
CGB is now listed at https://coinex.pw
was Cryptsy notified to update?
If not, dev you should tell them about the client update.
I know Coins-e is making the update now.
ps. Does the block explorer need to be updated too?
If not, dev you should tell them about the client update.
I know Coins-e is making the update now.
ps. Does the block explorer need to be updated too?
Cryptsy has updated. I messaged minus at coins-e and all the pools.
I think I told diatonic for the block explorer, but will double check.
Thanks for the coins-e confirm!
was Cryptsy notified to update?
If not, dev you should tell them about the client update.
I know Coins-e is making the update now.
ps. Does the block explorer need to be updated too?
If not, dev you should tell them about the client update.
I know Coins-e is making the update now.
ps. Does the block explorer need to be updated too?
cgb.coinworld.us updated also
Ok, Noon EST today, August 7th is the deadline for updating your clients. Please do so immediately.
Ok, Noon EST today, August 7th is the deadline for updating your clients. Please do so immediately.
Can we please get the update with github ?
August 5, 2013 Update:
The CGB team is pleased to announce an improved client! We have identified and fixed an issue with the PoS reward system as well as added in new security checkpoints. In order to give users an opportunity to update their clients, we have set this update to take place at block number 59,700. This block will occur Wednesday morning in EST time. Please update your clients immediately! We apologize for the inconvenience and had contemplated holding back on this update, however, we determined that the benefits outweighed the hassle and this was best handled right away.
Please download the updated clients in OP.
Nice, keep up the great work! The CGB team is pleased to announce an improved client! We have identified and fixed an issue with the PoS reward system as well as added in new security checkpoints. In order to give users an opportunity to update their clients, we have set this update to take place at block number 59,700. This block will occur Wednesday morning in EST time. Please update your clients immediately! We apologize for the inconvenience and had contemplated holding back on this update, however, we determined that the benefits outweighed the hassle and this was best handled right away.
Please download the updated clients in OP.
August 5, 2013 Update:
The CGB team is pleased to announce an improved client! We have identified and fixed an issue with the PoS reward system as well as added in new security checkpoints. In order to give users an opportunity to update their clients, we have set this update to take place at block number 59,700. This block will occur Wednesday morning in EST time. Please update your clients immediately! We apologize for the inconvenience and had contemplated holding back on this update, however, we determined that the benefits outweighed the hassle and this was best handled right away.
Please download the updated clients in OP.
The CGB team is pleased to announce an improved client! We have identified and fixed an issue with the PoS reward system as well as added in new security checkpoints. In order to give users an opportunity to update their clients, we have set this update to take place at block number 59,700. This block will occur Wednesday morning in EST time. Please update your clients immediately! We apologize for the inconvenience and had contemplated holding back on this update, however, we determined that the benefits outweighed the hassle and this was best handled right away.
Please download the updated clients in OP.
why hasn't the price increased?
Everybody knew when the reward would halve...so they were all mining and buying it like crazy before it happened (inflating the price.) It's the same routine every time a currency halves - price typically peaks right before it happens and then actually drops. Network speed (and therefore, difficulty) drops 50%+ as well so it remains just as profitable to mine as it was shortly before the reward reduction. This goes against conventional wisdom...but makes sense when you think about it. The good news is that you don't always have to be an early adopter to turn a profit...and the bonus rewards are there early to lure in miners and reward them for taking a chance early on an unproven currency.
People think they'll make a killing with the bonus rewards but it ends up being a wash usually. The bonus rewards are never as profitable as they seem. Look at PHS right now - with the double rewards, difficulty was over 4 at one point toward the end. After being halved, the difficulty is dipping below 1 now. I'm actually mining nearly twice as much PHS as I was before the reward halved. Look at MegaCoin - the reward halved and the difficulty dropped to 1/4 of where it was before. End result? I'm mining MEC twice as fast as I was before the reward halved (reward is half, but Im brining in 4 times as many blocks.)
The majority of people tend to think the same way...so I prefer to sit back and see how it plays out. Haven't really missed out yet.
None of those coins you mentioned will halve their subsidy to 0.01 per block. Just some food for thought...
That fact doesn't change the math. If the hash power is cut in half, the difficulty is also cut in half. If both the reward and difficulty are halved, the currency can be effectively mined at the exact same pace. Sure there is less of it being created, but you aren't going to feel the impact of that right away.
Of course the value/price should go up eventually -- it should go up considerably. I'm just saying people always expect the price to skyrocket immediately after a reward halves...but since everybody is buying/mining like mad before it happens the price is already inflated. We aren't talking about a surprise event here -- everybody knew it was coming.
I love CGB and the rarity is definitely being underestimated. I don't care what the price is at right now, because I'd never even consider selling at this point. I just keep mining and pushing forward.
It will take time, wait for website, services and such 
why hasn't the price increased?
Everybody knew when the reward would halve...so they were all mining and buying it like crazy before it happened (inflating the price.) It's the same routine every time a currency halves - price typically peaks right before it happens and then actually drops. Network speed (and therefore, difficulty) drops 50%+ as well so it remains just as profitable to mine as it was shortly before the reward reduction. This goes against conventional wisdom...but makes sense when you think about it. The good news is that you don't always have to be an early adopter to turn a profit...and the bonus rewards are there early to lure in miners and reward them for taking a chance early on an unproven currency.
People think they'll make a killing with the bonus rewards but it ends up being a wash usually. The bonus rewards are never as profitable as they seem. Look at PHS right now - with the double rewards, difficulty was over 4 at one point toward the end. After being halved, the difficulty is dipping below 1 now. I'm actually mining nearly twice as much PHS as I was before the reward halved. Look at MegaCoin - the reward halved and the difficulty dropped to 1/4 of where it was before. End result? I'm mining MEC twice as fast as I was before the reward halved (reward is half, but Im brining in 4 times as many blocks.)
The majority of people tend to think the same way...so I prefer to sit back and see how it plays out. Haven't really missed out yet.
None of those coins you mentioned will halve their subsidy to 0.01 per block. Just some food for thought...
why hasn't the price increased?
Everybody knew when the reward would halve...so they were all mining and buying it like crazy before it happened (inflating the price.) It's the same routine every time a currency halves - price typically peaks right before it happens and then actually drops. Network speed (and therefore, difficulty) drops 50%+ as well so it remains just as profitable to mine as it was shortly before the reward reduction. This goes against conventional wisdom...but makes sense when you think about it. The good news is that you don't always have to be an early adopter to turn a profit...and the bonus rewards are there early to lure in miners and reward them for taking a chance early on an unproven currency.
People think they'll make a killing with the bonus rewards but it ends up being a wash usually. The bonus rewards are never as profitable as they seem. Look at PHS right now - with the double rewards, difficulty was over 4 at one point toward the end. After being halved, the difficulty is dipping below 1 now. I'm actually mining nearly twice as much PHS as I was before the reward halved. Look at MegaCoin - the reward halved and the difficulty dropped to 1/4 of where it was before. End result? I'm mining MEC twice as fast as I was before the reward halved (reward is half, but Im brining in 4 times as many blocks.)
The majority of people tend to think the same way...so I prefer to sit back and see how it plays out. Haven't really missed out yet.
why hasn't the price increased?
has it halved? 
Yes it has.
has it halved?
If you have not downloaded the new client... DO SO NOW, PLEASE! Subsidy is halving in a few hours. See you on the other side!
I hope everyone has updated their client before the 55k fork. If not, please do so immediately! I am in the EST and figure that as we cross over into Sunday, the fork should occur. Don't want anyone to lose the the correct block chain. BTW, it is FRIDAY!!!
At the current mining rate I calculate block 55K by midnight Saturday night EST.
Looks like 4 A.M. Sunday EST now.
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