Re: CRYPTO BULLION (CBX) | Inventor of PoSP!

4. Will queued BPN'S earn regular POSP interest?

Quote from: Killiz on February 01, 2018, 11:44:17 AM

Cool, thanks.

I think for the queueing system to work, investors should not be penalised, and forfeit their interest by doing so. A workaround should be found where locked away queued BPN's will still earn as normal.

Regarding the marketing, every community member and investor reading this, should start to prepare and help spread the word about CBX. Once the new vault is released, we 'all' need to do something to get the word around that CBX is back in business.
Tweeting, retweeting, Facebook posts, liking, sharing, posting in other threads, other forums, telegram channels, slack channels, etc, etc.
It is up to the community to make the most of this rebrand if we want the attraction we all know CBX deserves.
If people hear and read about something enough they will eventually look into it, and that's all we need, looking into......

Get ready folks, start thinking about how you will help spread the word in the coming weeks.

I'm personally looking forward to spamming those Pumpz groups on telegram Cheesy

Thanks.

Got your answer: a queued BPN will stake normally and earn regular PoSP reward just as if it was with the other PoSP balance of the given user.

Actually, allow me to revise my answer. After much internal deliberation we have arrived to the conclusion that queued inactive BPNs should not be earning reward until they are accepted in the 125.

There are two main reasons why we favored this: if at one point it becomes difficult to get an active BPN position, a BPN runner might think twice before selling his valuable CBX position and also the fact that while waiting for an active BPN position, those 2000 CBX removed are leaving more room for other people on the network to earn staking rewards. CBX is a 2% inflation project, so allowing more people to earn staking rewards is a desireable thing imo.

I don't think that is a good idea .... I would think that would actually deter people psychologically even trying to accumulate the 2000 to start with.

I mean think about it. It seems like a lot of hoops now to get a masternode compared to other projects.

Also sitting in this queue for weeks or months with 2000 coins (masternode amount that you paid a lot to accumulate) earning zero will encourage people to dump it back and get a masternode else where.

Psychologically it does not add up. I mean the smartest thing is for everyone with 2000 coins to be in the queue and as their queue number ticks down they are less and less likely to sell. not have them sitting there pissed off they are getting nothing for months on end and leaving/selling out with a bad taste about cbx when other masternodes they own have been earning them good returns.

And those in the masternode are only going to sell if they have too.

This is a bad idea if you ask me.

Possibly a reduced interest rate but even then I would not be bothering holding on to my 2000 coin parcel if i can trade in and out of cbx and earn lots more than the zero rate of waiting in a queue for months.

Masternode owners may never vacate those slots so then the idea of keeping accumulating the magic 2000 just to get zero interest for months/years?? I don't think I would even bother queuing my coins and in that case why would i worry about even having 2000?

It is kind of damaging the entire reason for masternodes which is to accumulate and hold.

The queue is great but must earn full interest imho for it to achieve the desired results of making cbx a savers coin of increasing but stable value.

Also what time frame on this queue system and new masternode system. I mean it may sound a trivial thing but this to me sounds like a huge huge task and something quite novel. So are we talking weeks or months here?

We have a few factors at play here and we have a very small 2% inflation of coins that can be used to reward coin investors. We have devised a 2 tier system that will reward a higher than the 2% inflation rate reward to PoSP stakers (estimated to be 3-6%) and then a higher reward for the next tier of BPN runners (estimated to be between 9-18%).

BPN: only 125 slots can ever exist here and each spot costs 2k CBX. For all spots to be filled, 1/4 of the total supply of CBX would have to be locked away. A BPN slot is retained until the associated address either drops below 2k CBX or has not staked in a 12 hour period. Either of those instances cause the BPN slot to be freed up for the next in line of the BPN queue. This design will assist in providing BPN turnover and keep the queue with some movement.

PoSP: all coin owners can stake via PoSP but as 75% of the network will be allowed to do this theoretically, we need to boost the reward to stakers somehow. We know that a portion of CBX has been lost over the years of existence through exchange closing, lost wallets, etc. Additionally there is a portion of owners who will keep coins at an exchange or stored away in cold storage. The other area where we can make up some additional compensation for PoSP stakers is by making the queue for BPN payout no reward.

It is important that we not only think of BPN compensation and growth at the expense of PoSP stakers. PoSP stakers are the 'little guys' who cannot afford a BPN, yet they are integral to the functioning and decentralization of the network. We want a large, diverse and welcoming network.

This is a difficult decision and debate and I understand your thoughts, but perhaps hearing more detail on the other side of the coin gives you further points to consider here.

Regarding coding time, we will have some better estimates here shortly but a large portion of the work is already completed with the mutex project that we have spoken of for some time.

Been thinking about this since Ben's second reply to my question.

Reading Cryptohunters statement I'm about to agree with him. I read that you will lose your BPN position if you haven't been staking for 12 hours.....

Thought this would be a good idea and would help turnover. But what about moving house and being without internet, powercuts, system crashes etc etc. 12 hours is not a long time in these circumstances. This will be a lot of equity at stake in the future. I think this time limit is far too short.

The fast turnover you mention is contradicting to the statement that people will keep hold of their active BPN if no interest is paid on queued BPN's.

The only solution I can see is for there to be a way to view your position in the queue, and total number of queued BPN's? To allow the investor the option to choose when to queue, or leave the queue to wait for a better time to join, and return to normal staking.

But I still feel it is better to pay normal PoSP rewards while queuing. Nobody is going to invest for a Masternode if they have to wait months or years to have any activity on it.