Designed to be a rare, peer-to-peer virtual commodity, CryptogenicBullion (CGB) maintains the same features as Bitcoin; with decentralization, anonymity, and low transaction fees on its priority list. Pegged as a universal virtual commodity, CryptogenicBullion uses scrypt algorithm to protect the network from malicious threats and force attacks.
CryptogenicBullion (CGB) trades on various virtual currency exchanges. However, the most common exchange method is to exchange BTC into CGB. You can buy BTC by using services like Coinbase, Mt. Gox or Bitstamp. Once you have your bitcoins, you can send them to an exchange site such as Cryptsy, Coins-E and CoinEx, and proceed to exchange your bitcoins into CryptogenicBullion.
On the other hand, if the CryptogenicBullion exchange charts are to be analyzed, there’s a clear sign that its value is gradually increasing. With 245,847 blocks, the CryptogenicBullion price/value is playing on a 0.00393657 price point, which is much higher compared with other crypto-currencies at hand. This indicates a slow but steady increase across the exchange rate charts.
Mining and its Profitability
What’s interesting about CryptogenicBullion mining is that its difficulty retargets every 2 blocks in a 60-second block time. The mining subsidy is initially set to 10 CGB per block and is halved every 50,000 blocks. This will continue until reaching its limit of 0.01 CGB. By this time, there will be a total of 1 million CGB in existence, and 0.01 block reward will equate to about 0.5% annual inflation. Given this fact, it is better to take part in mining while each block is worth 10 CGB.
If solo mining is not included in your preferences, there’s also an option to join a CryptogenicBullion mining pool, where you can earn a portion of the total block reward. Remember, though, that when you join a mining pool, you will have to meet certain requirements to receive payments. For instance, some pools require several confirmations to payout and even charge at least 1% pool fee. However, when you’re into pooled mining, expect that you will receive more coins slowly but regularly, unlike when you’re into solo mining. Likewise, you can mine CGB in consumer-grade hardware. Having said this, you’re not required to have extremely capable computers to mine this crypto-currency.
If you want to have an estimate of your expected earnings within a given time frame, you can always use a CryptogenicBullion calculator. Simply enter the difficulty, exchange rate, block reward, and hardware costs among many others to determine your mining profitability.
Should you find trading and mining CGB to be untimely, you can always make use of the available CryptogenicBullion faucet online to get free coins. Just make sure that you already have your personal CryptogenicBullion wallet so you can store your obtained CGB.