The rate of CGB/BTC was about .0025-.0026 when BTC/USD was around $150 - $160. And when BTC/USD hit $195 (about a 20% increase), CGB/BTC hit .0021 (about a 20% decrease). So the net value is nearly unchanged, as Killiz said.
The correlation with BTC is accurate and I suspect it will stabilize and be less pressured with each subsidy halving going forward, which was the point of the design of accelerated subsidy halving. I have said all along to those who know me (and a couple times in these forums) that I expect BTC/USD to be over $1000 within a year. And as BTC/USD tests the $200 level, suddenly accelerated subsidy halving looks like a bright idea. Plus, couple that with future project developments of mine as well as a developing economic web ecosystem and continued marketing initiative, then you truly have the potential to--wait for it--multiply the value of your bitcoins over time.
Try not to get caught up with the daily price movements...it will drive you mad.
In the meantime, I believe BTC/USD over $200 will soon have a rising tide raises (most) boats effect and I'm doing my best to make sure CGB is one of those boats.
-Merc
Sorry Merc could'n help it, I had to watch and I am now certified insane.
I've a lot invested in CB and I have ridden the swings and roundabouts of the last week or so and have nervously held on tight as I've watched my holdings rise and fall in the 1000's of dollars, as many other holders of CB will have done too.
I can honestly say it is one scary ride, my face has been every colour of the spectrum today, and I have been through every emotion, but I believe and understand the potential of CB and I am willing to ride and break this monster, as the potential future rewards, far outweigh my personal health, wealth and feelings
It is easy to sell large amounts of CB. But it is one tough bastard to buy back in large amounts. Tried it, failed. I learnt this early on.
Just want to share this, because like my psychiatrist says, it's good to talk.
I wanted to stay away from the forums as they tend to throw my focus off. But I'll reply to you since you've been an avid supporter from very early on.
Yes, it can be terribly taxing (no pun intended) to watch our holdings rise and fall with such chaotic velocity. But this industry as a whole is quite immature and I'm looking at it as par for the course, given its current stage of development.
Plus, it's easier for me to endure because I am working on our projects. So I see the potential every moment of everyday. I'm creating relationships to open new marketing avenues to further penetrate China--to start marketing initiatives on Baidu and Sina. And it's not as easy as it sounds. For example, you better know Chinese characters when registering a marketing account because the captchad is in Chinese. See what I mean? You need to have a trusted liaison doing all this, who can be trusted holding payment info so to enter the payment information. And these are minor issues. As we speak, we're in the process of upgrading the website and changing the text on much of the site. It wasn't a priority but China is becoming a major market and we need to adjust our priorities. These Chinese marketing channels need to be established before we start to release my dev projects next month.
It's quite a ride but I want CGB to make waves in the industry and we need to be patient and do things right...
My father recently asked if I'm worried about being a public dev versus the shady/hidden devs so rampant in the industry...and that if I was concerned about government scrutiny. And I answered that if we're receiving increased scrutiny even though nothing is a secret and done 100% legally then we're doing something right.
But, I'm an agorist at heart; no matter what, this journey feels right. I'm all for empowering the people.
I aim to misbehave...
-Merc
