'The Digital Precious Metal'
"CBX 1-year inflationary stage completed on July 13, 2014. Less than 1 million CBX in circulation with a maximum inflation rate of 2% annually going forward."
July 2, 2015 'State of the Bullion' Address:
Hello to the Crypto Bullion community!
We have a lot that has transpired since our last formal announcement and things are moving along in a positive direction for CBX as reflected in our month over month USD valuation (5 cents per CBX last month, now over 20 cents per CBX). Although this is a substantial 500% increase in price and is very exciting, we are still very early in our ambitious plans and significantly shy of our short-term and long-term targets.
We have added 2 new members to our team since our last announcement. Alex “RainbowDash” has joined us as our Online Services Expert and has hit the ground running. His primary points of focus so far have been working on setting up a CBX price ticker and faucet, which are both very close to release. Jimmy “JimmyZhu” has joined our team as our Liaison to China. Jimmy has already translated the front page of the website to Mandarin, started and is managing a CBX thread on the primary Chinese cryptocurrency forum 8BTC and is working on translating the CBX Vault (client) so our next release will be more user friendly for our Chinese users. (We are working on one other team addition at the present to fill our Investor Relations Officer position - we will provide more details on this appointment shortly.) Welcome!
We have outlined our technical development plan at a high level regarding our upcoming hard fork that will be explained in detail with its accompanying white paper. Basically PoW will be removed and CBX will operate via PoS exclusively. The inflationary rate will stay at 2% per year, however the current PoS implementation will be replaced by our new PoSP system that is now under development. This system will reward only those actively staking and in such a way that it will maximize network security via a pay-for-work methodology that allows for a variable interest earnings rate reflective of network participation. With this new design, those actively securing the CBX network will find an opportunity to earn a substantially higher interest rate on their holdings while the overall inflationary rate remains a constant 2% per annum. We are confident the PoSP implementation will be a game changer and are very excited about releasing it to the public in the near future.
We have reached out to the current Crypto Bullion community, and any who care to come along for the ride to help in funding our technical developments as well as our substantial marketing campaigns that will accompany them. We have set a target fund raising goal of 20 BTC (10 BTC for technical development and 10 BTC for marketing). This is a great opportunity for each individual to take ownership of the project and help to control the resurgence of CBX.
So far we have collected donations totaling 11 BTC (4 of which are already allocated to our technical development PoSP project) so we are more than half way to our goal.
Please consider supporting this project by donating to BTC Address: 1D1oyugjRQFAyJ9sRYBvWS2aUbJ9KnUsVG
Thank you to all who have supported this project historically and recently. We have a lot of work ahead of us but we welcome the challenge and are enthusiastic about the future.
~ CBX Core Team
• Proof of Work/Proof of Stake Hybrid
• Linear difficulty retarget (every 2 blocks)
• 6 Confirms
• 60 Second block time via PoW
• Year-long inflationary distribution stage completed on July 13, 2014
• Less than 1,000,000 Crypto Bullion cap with a maximum of 2% annual inflation (1.5% via PoS and 0.5% via PoW)
Released in late June 2013, Crypto Bullion was designed primarily for the purpose of storing wealth. Crypto Bullion is a second-generation crypto-currency that emulates the properties and supply of gold. It’s the first crypto-currency to display all of the properties of money, while providing the bearer with interest for holding it. It is a descendant of Bitcoin, but employs an advanced security model, which is more efficient and more secure than Bitcoin. The problems of today’s debt based fiat currencies find solutions in cutting-edge decentralized cryptographic currencies like Crypto Bullion.
While Crypto Bullion shares many traits with Bitcoin such as fast global payments, decentralization, pseudo-anonymity, and non-reversible transactions, there are many improvements, which allow CBX to more reliably store wealth. A critical requirement for storing wealth is a low inflation rate. Crypto Bullion is a very rare exception in that it has completed its volatile inflationary stage and settled into its maximum yearly inflation rate of 2%. It also allows prudent savers of Crypto Bullion to earn up to 1.5% annual interest on funds left unspent in their wallets for at least 30 days.
As investors, we must be willing to adapt when the game changes, or we risk being the last one holding the bag. Global debt levels are nearing the explosive end of a parabolic rise. Most of the problems that lead to the market crash in December of 2007 have become much worse. Evidence that interest rates, gold, commodities and other markets are being manipulated by the central banks has emerged leaving many investors struggling to tell truth from distortion. In this kind of a market it is very important to consider storing your wealth among a diverse range of assets. Not only does Crypto Bullion emulate the properties of gold, a classic safe-haven asset, but it also represents a part of the movement towards a more fair and honest system of money.
One thing that will strike the new investor is the sheer number of different crypto-currencies to choose from. The market is still new, and most of these have not been created with sound economic and social fundamentals. When we step back and look at the whole picture, we see a rivalry between miners, who complete difficult calculations to generate new coins, and investors, who are buying coins on the market based on perceived potential. A third unseen player in the market is the scammer. Since there is real capital involved, and due to the anonymous nature of crypto-currencies and the internet itself, these people are known to coordinate pump-n-dump scams and will even create new digital currencies just for this purpose. It is important, as investors, that we conduct our due diligence before allocating capital to ensure that we are both on the right side of a trade, and that we are supporting only those projects which deserve the capital.
Capital flows can be understood when we realize that there are many different reasons to hold a crypto-currency. They can be held to spend, held to save, held to invest, and used to move funds from one person, place, or market to another. It is important to know this, because predicting changes in demand is how an investor can generate a return. Crypto Bullion functions well for saving because of its low inflation rate, and the interest that can be earned by holding it. The value of Crypto Bullion is not determined by how many markets it can directly trade to, nor by how many businesses and individuals will accept and hold it for spending, but from its fundamentals which allow it to serve as a more stable store of wealth.
Donate to the CBX Foundation Development Fund:
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PoSP sounds interesting. Is the white paper available?
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