Hey Team. As promised here is my outline for what I believe is needed to take this coin to the next level (and then the next). I have carefully constructed the points for mass appeal but certainly welcome
ANY criticism. Please take some time to chew on this and get some discussion going. I will be checking back often but must let you all know that I have to keep my own life in balance. Cheers!!!
Cryptogenic Bullion (CGB)
Open Source Community Development and Marketing StrategyThis document contains a collaborative framework for the community development and marketing strategy of the Cryptogenic Bullion cryptocurrency. It is intended to be updated by any member of the CGB community who has a new idea or believes they can refine an existing one. The document is open to the public because it serves as a document of logic and open debate. I believe that releasing the strategy itself might provide other deserving cryptos with some guidance to take their logical place in the ecosystem. This document contains the CGB strengths, misconceptions about CGB, viral marketing concepts, community development and highlighted communities.
This document will be posted (not yet) at
http://www.reddit.com/r/CryptogenicBullion and
https://bitcointalk.org/index.php?topic=245086.new#new. Anyone who wishes to discuss any part or offer updates can reply to either post. I will try to keep the post up to date. Please understand that I am an independent community advocate like yourself. I am only a small piece of the bigger picture and each must take their own initiative in order for this campaign to succeed.
Cryptogenic Bullion StrengthsProof of Stake Eco-Security: Cryptogenic Bullion is a second generation cryptocurrency employing an advanced hybrid of legacy Proof of Work mining and Proof of Stake minting to secure the blockchain. This multi-pronged approach makes the "51% attack" a thing of the past. Not only would an attacker have to control half of the CPU power on the CGB network, but they would also have to own half of all of the currency supply of CGB in order to attempt a "double-spend" attack. Although Proof of Stake can be used alone to protect the netowork, the legacy Proof of Work aspect of CGB remains as an additional security layer.
The power consumption of CGB will remain far lower than any other legacy Proof of Work cryptocurrency as most of the reward for securing the network is provided through Proof of Stake minting which can be completed quickly on a smart phone, instead of a supercomputer cluster.
Interest Bearing (1.5%): A major benefit of Proof of Stake minting is that you can pay yourself 1.5% interest on savings, without the need for a bank to take its cut. Compared to legacy Proof of Work systems which reward only those with mining equipment, the benefit is made directly to the people who maintain a savings of Cryptogenic Bullion. A Proof of Work mining incentive of 0.5% brings the yearly production of CGB to 2.0%; a rate modeled after the supply of gold.
Inflationary Stage Completed (rare): In order to distribute coins to the widest population base, cryptographic currencies rely on a mining protocol called Proof of Work. This puts new coins into the hands of those with mining equipment like a gaming PC, or a cutting edge server. It gives everyone a fair chance to adopt and spread the currency, but creates the volatility and downward price pressure seen in so many other cryptocurrencies. Cryptogenic Bullion is the only second generation cryptocurrency to have completed this inflationary stage due to its accelerated reward halving. Without this relentless dumping of new coins that almost all other cryptocurrrencies are now struggling against, Cryptogenic Bullion is ready to meet its market potential.
Active Developers and Community: The development team has proven itself to be publicly accountable to the CGB community and has built a reputation for dependability, transparency, and forward thinking. With this foundation, the CGB community is able to focus on extensive advertising and promotional efforts which have drawn in a diverse collection of individuals to the merits of Cryptogenic Bullion. With a social media focus we have been actively engaging many different markets through the use of, among other media, our Facebook page (
https://www.facebook.com/pages/Cryptogenic-Bullion/134177020124803), which has over 15,000 likes and CGB's twitter feed (
https://twitter.com/CryptogenicBull) with a current following of over 400 individuals.
Misconceptions about Cryptogenic BullionFast Mining/Inflation Stage: One common misconception about Cryptogenic Bullion is that its shorter mining/inflation stage has not given a wide enough range of individuals the chance to participate as early adopters. We must appreciate that this deployment method was chosen to avoid the long period of inflation which increases the volatility and stagnates most other cryptocurrencies in use today. The CGB community has been very active making every effort to get the word out about CGB and make it available on multiple exchanges. What is not realized is that CGB is still in the early adoption phase but instead of mining coins, the low price is what now enables early adopters to participate in this opportunity. CGB is only just now beginning to realize its potential to the discerning investor.
Community DevelopmentIn addition to helping to spread the word, there are other tasks which need to be undertaken in order to support the growth of our community. Any suggestions about areas of development are welcome.
Viral Marketing ConceptsGot Crypto?: I believe that this phrase has the power to turn Cryptogenic Bullion's slightly awkward name into an advantage. Not only is it a professional name appealing to the investment community, but it can be called 'Crypto' for short. No other coin can logically take this title with more credit than Cryptogenic Bullion.
CGB Vault: This viral concept involves locating high quality vault images and replacing the circular entrance with a translucent CGB logo. This can then include a slogan and or CGB Strengths.
Highlighted CommunitiesIt's important to remember that every community we wish to interact with has its own unique perspective and strategies for contact. We know that any community is made up of members who belong to many other groups and communities; there is a lot of overlap. Our message needs to be as clear as possible and some of the best insights will come from these people. The purpose of this section is to enable these and all other CGB supporters to learn about and understand the most effective ways to communicate with the highlighted community. As this document is updated we should try to build a full picture of each community including:
- Where they can be found
- General level of understanding
- Interaction Notes
- Opportunities
- Common Misconceptions
5a. TBD. All suggestions are welcome. This will be my next focus.
Let me know about the paper wallet. I'll post a link to it on the website. Also, I'd suggest making it open source and available on github so users can make their paper wallets offline (more secure).