Cryptogenic Bullion
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CGB, or Cryptogenic Bullion piqued my interest lately. It’s a scrypt PoS/PoW coin with a tiny block reward. The developers have taken a different approach on this coin. Instead of forging a new market they decided it was time to try and level out price fluctuations for Bitcoin. The idea is to mint roughly 1,000,000 coins and tie the coin to BTC in effect making a safer place to store bitcoins in the short term. With a smaller supply the price won’t fluctuate so wildly. It also has a small interest system built into the qt client. This coin does have a small premine that’s being used for development and marketing. It’s a 1% premine.
I think it’s a new idea, one sorely needed in the crypto community especially with everyone trying to outdo one another with a new technology or advanced idea. It’s especially useful for institutional merchants who need a safer place to hedge against market fluctuation loss.
Just thought I’d bring this up here since there isn’t much mention of it on these forums. I like CGB as much as FTC some for different reasons and others the same.
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CGB’s coin distribution over time is insane. There are some coins which reward early adopters with a very high percentage of the total coin supply, but CGB is something outstanding. It is less than 4 months old and 86% of the total coin supply has been distributed already. In general, CGB is a quick fork of NVC. By the way, 1% pre-mine of the total coin supply isn’t small.
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I know this thread is over a month old, but I feel a need to comment, as it can be found via google search.
There’s a public ledger of where that 1% went…all for community sponsored events/services…over 500 CGB came out of pocket as well, as the 1% couldn’t cover cost of all services.
“A quick fork of Novacoin” but no one is ‘applying’ the block chain in the way CGB is via my recent project MADEsparq Project. More info here: [url=http://MADEsparq.org]http://MADEsparq.org[/url].
By the way, no quicker a fork of Novacoin than Feathercoin is a fork of Litecoin, eh?
