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Author Topic: Crypto Bullion, the Cryptocurrency for Investors  (Read 11620 times)

pedrillo0

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Re: CRYPTO BULLION (CBX) | Powered by PoSP | Est. 2013
« Reply #15 on: May 26, 2017, 09:09:22 AM »
Hey Bullionaires, Join The Creative CBX Contest for Positive Momentum!

$500 reward for finding uses for CBX, in new sites and applications, paid by the CBX team.

Rules:

    Any site or app using CBX for the first time is eligible to win
    Post your site or app on the CBX forum. https://bitcointalk.org/index.php?topic=951753
    The community will vote on a winner on Sept 1, 2017
    Site or App must be available to the public and be working/running by Sept 1, 2017
    $500 paid in BTC at the end

Examples of entries:

    Existing sites that accept CBX for the first time
    New CBX apps
    New sites that use CBX exclusively
    CBX YouTube videos or ads that can be shared

Feel free to post works in progress, status updates on your project, etc. on the CBX forum. The more you post on the CBX forum the more the community can get behind you and help make your project a success. Prize awarded in BTC so that the winner can buy more CBX!

**Bonus contest - every tweet or post using #500USDforCBX is an entry to win $100 worth of CBX. Winner chosen at random so the more you tweet, retweet, or post, the higher chances you have of winning.

- The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #16 on: June 08, 2017, 12:32:47 PM »

Let's talk about masternodes!

I think there is something good with masternodes, more than a fad we should blindly follow.  There are many advantages to adding BPN (Bullion Participation Nodes) to CBX - an even more reliable network, adding anonymity to the network, removing many coins from trading, thus making CBX even more scarce and facilitating the creation of a reliable mobile CBX app.

I have posted a new poll, outlining how we see the possible implementations of masternodes to CBX; please select one, and perhaps voice your constructive opinion on this thread:  https://bitcointalk.org/index.php?topic=951753.0

Essentially, CBX holders continue to gain PoSP rewards, but we open 500 000 possible CBX to masternodes, at 10 000 CBX each. With option 2 as an example, we split 20 000 CBX yearly rewards between all registered BPN runners - this means that if 5 people lock in their 10 000 CBX each or 50 000 CBX then the 20 000 CBX reward gets divided among those 5 - or 4000 CBX each for a nice 40% yield!

Large CBX holders will have the possibilitly of locking in more than one 10 000 CBX sum, in 10 000 CBX increments those will count as more nodes to the same owner.

All this would work in typical PoSP fashion, online BPN or non BPN get all rewards for given block, essentially adding the Participation twist to traditional masternodes.

The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #17 on: June 21, 2017, 06:29:53 PM »



The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #18 on: June 29, 2017, 10:28:55 AM »
One critical piece of the outlined 2017 road-map is to put in place a self funding mechanism for continued development. The current plan is to create a 10k superblock at the time of the hardfork occurring in August/September to be used for a dev operated BPN from which interest earnings would fuel ongoing CBX development, advertising, etc. However, this is not ideal as it could potentially create an issue with exchange listing policies or negative perception/issues for investors. Resultant to this, it has been suggested to create a donation address to gather these funds from the community. In response to this suggestion the below address has been created to accept donations. The goal is 10k CBX. We will report periodically on progress towards the goal.

CBX Donation Address: 5jMKPEvPoHN4UNQEyEh9n84ZPdaQBMzfuZ


The Crypto Bullion Team

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #19 on: July 13, 2017, 09:24:03 PM »
In writing the white paper for the BPN implementation, I have been back and forth with the team regarding the current voting poll (cost for a BPN). Yes, a BPN should be an investment and the earning potential will justify the investment, however this is not the only consideration. I bring this point up because the 2k CBX option is presently leading.

The issue I have with this is that in order for us to maintain PoSP and implement BPN, we must split the network coins so we can allow different interest earnings percentages for each function (BPNs should earn more as they provide more services to the network).

Essentially this means splitting the 1 million total CBX into halves of 500k CBX each. One half would be used for PoSP at 1% annual inflation (interest earnings projected from this would be in the 3-6% annual range). The other half for BPN would be at 3% annual inflation so the two would balance out to our 2% inflationary target.

Additionally to make BPN operation more lucrative, we will limit the total number of BPNs to max out at 250k CBX (1/4 of the network). This means that if all of the BPN slots are filled, the absolute minimum interest earnings would be 6% per year. Going off of our PoSP history, we can extrapolate that the return will actually be 3-6 times higher than the inflationary rate from the BPN half therefore rewarding in the projected range of 9-18% yearly for BPN operators.

So with this outlined we come back to the current survey. If we set a BPN cost at 2k CBX, then the maximum number of nodes we can have on the network would be 125. If however we set BPN cost at 500 CBX, then we can have a maximum of 500 BPN on the network and better decentralization.

Feel free to provide any input you want heard from the team regarding this subject: https://bitcointalk.org/index.php?topic=951753.new;topicseen#new

Chris Mrozek (Founder of CBX)

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #20 on: July 20, 2017, 10:56:44 AM »
New poll posted;https://bitcointalk.org/index.php?topic=951753.3980  this time taking under consideration the proposed segmentation of the total CBX money offer, allowing only 250 000 CBX to take part in the global BPN network, this poll now also focuses on "how many nodes do you feel are necessary to maintain a healthy CBX network".

As before, the amount of temporarily locked CBX should be high, but the higher we set this mark, the less nodes will be securing the network. So, please choose, this time  focusing on those 2 essential parameters at the same time.

Also remember that, with CBX's BPN network, regular non masternode nodes (regular online staking Vaults) will also be allowed to secure the network; although the block reward will be higher for actual BPNs.


The Crypto Bullion Team

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #21 on: July 25, 2017, 08:06:14 AM »
Stage 1 of CBX 2017 Road-map update:

Coding for the hardfork to implement BPNs is almost complete (75%) and will soon begin internal testing. Next steps after completion will be as follows:
   Auto bootstrap load / trouble shooting tool integration into Vault build
   QR support
   GUI redesign and addition of in wallet metrics


The Crypto Bullion Team

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #22 on: July 27, 2017, 09:46:22 AM »
Official CBX bootstrap updated to today. Download from the OP here or website if you need it.

Also, we are still looking for donation for CBX Dev fund, see below:



Donate to the CBX Foundation Development Fund:

One critical piece of the outlined 2017 road-map is to put in place a self funding mechanism for continued development. The current plan is to create a 10k superblock at the time of the hardfork occurring in August/September to be used for a dev operated BPN from which interest earnings would fuel ongoing CBX development, advertising, etc. However, this is not ideal as it could potentially create an issue with exchange listing policies or negative perception/issues for investors. Resultant to this, it has been suggested to create a donation address to gather these funds from the community. In response to this suggestion the below address has been created to accept donations. The goal is 10k CBX. We will report periodically on progress towards the goal.

CBX Donation Address: 5jMKPEvPoHN4UNQEyEh9n84ZPdaQBMzfuZ



The Crypto Bullion Team

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #23 on: August 01, 2017, 11:26:32 AM »
Just a quick update on the progression of development towards the roadmap objectives:

1) Bootstrap loader will be as simple to all users, as promised; being finalized now,

2) Testing the Scrypt algorithm with new Vault; Scrypt hashing will be necessary when testing the new CBX network: we had removed it prematurely in 2.4.3, and regretted it,

3) Major CBX Vault GUI redesign as promised:
     much improved wallet metrics are being added
     full QR code functionality is being added, back and forth (reading QR codes, and generating them)

The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #24 on: August 05, 2017, 10:24:59 AM »
Thank you all for the support...



The Crypto Bullion Team

pedrillo0

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #25 on: August 09, 2017, 09:07:27 AM »
Currently, we have a semi-operational new Vault, as we have to adjust the network interaction between the new Vault software when put in same network and running side-by-side with current 2.4.3 Vaults. This is important to allow a period of time where both Vaults will be running side-by-side on same network, before the phase 1 hard fork; also means things will be similar, network-wise, even after the hard fork.

Let's review the requirements for phase 1 of 2017 roadmap:

- Transaction anonymity still needs testing
- Correction of memory usage issue is done  :D
- New Vault build with auto bootstrap loader is done  ;D
- Self-Funding has been taken care of by community (thanks, guys!)  ;D
- Full QR-code support is currently at 50% (new Vault generates a QR-Code, but can't yet read QR-codes using a PC cam or portable PC's cam)
- GUI complete revamp is still underway


The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #26 on: August 16, 2017, 09:06:16 AM »
Roadmap 2017 report!

Tying up loose ends and resolving nagging problems, as we are getting closer to Alpha testing...

The peer problem has been resolved; now the Vault 3.0 communicates perfectly with existing 2.4.3 Vaults - we have hit another stumbling block (!) with historic block 393, which is causing a problem to new Vault and we are addressing this before we can move on with the next step.


The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #27 on: August 22, 2017, 10:07:20 AM »
Roadmap 2017 report!

We have noticed that the old opcode interpreter from the previous Vault is the source of a few problems, including the problem with block 383.

It is unfortunately necessary to rewrite this opcode interpreter, so Vault 3.0 functions well in its new BPN environment; if we do not rewrite this part of the software, there might be weird glitches down the line, as seen in the block 383 problem.

Work continues on GUI as well, I'll keep you posted!


The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #28 on: August 29, 2017, 09:56:22 AM »
Roadmap 2017 status report!

We are still finishing up with re-coding the opdocode interpreter to make sure new Vault 3.0 can accept the existing blockchain from previous protocols; and this should be complete by the end of this week. As mentioned earlier, it's a tedious task as we have to test every single line of new code as we go, and this part of the Vault code is about 1000 lines long.

I will revise the posted Roadmap to reflect this new challenge; basically we are still looking at new Vault delivered by the end of September, with associated hard fork taking place in October.


The Crypto Bullion Team

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Re: Crypto Bullion, the Cryptocurrency for Investors
« Reply #29 on: September 06, 2017, 09:37:45 AM »
Roadmap 2017 status report!

The opcode interpreter rewriting is now complete; now that we have changed many parameters, we need now to revisit how these subroutines are referenced and check each and every one of the opcode calls; this is one week of work, give or take. After this we will be attacking the GUI interface, to be followed by alpha-testing and subsequent required debugging.

The CBX community members who would like to participate in the alpha-testing of the new Vault (under strict non-disclosure rules), please contact me. Naturally, alpha testing simulations will not have any impact on existing CBX balances.

The Crypto Bullion Team

 

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