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Author Topic: BiblePay - New Coin Launch - Official Thread  (Read 109946 times)
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July 23, 2017, 09:45:24 PM
 #1

NEW COIN LAUNCH



NAME: BIBLEPAY






LAUNCH DATE:  JULY 23, 2017 at 17:00:00 CST



ALGORITHM: PROOF OF BIBLEHASH (POBh) ** NEW **

BLOCK TARGET RATE: 7 MINUTES


First coin with the KJV Bible compiled in the source, and utilizing the Bible in the hashing algorithm, while spreading the gospel throughout the IT community.  The blocks also hash to chained bible verses.


TRANSACTION SPEED: SUPPORTS INSTANTSEND

MASTERNODE (SANCTUARY) SUPPORT: SUPPORTED AFTER CHRISTMAS 2017
SUBSIDY BREAKDOWN: 10% TO CHARITY, 10% TO MASTERNODES, 80% TO MINER



FORUM:
http://bitcointalk.org/topic=2042657

Backup Forum:
http://forum.biblepay.org/

BLOCK EXPLORER:
http://biblepay.inspect.network/richlist

SOURCE CODE:
https://github.com/biblepay/biblepay

WEB SITE:
http://biblepay.org

EXCHANGES:

https://c-cex.com/?p=bbp-btc
TICKER: BBP
Exchange Go Live Date:  August 15th 2017

PREMINE: NONE
ICO: NONE
INCONSISTENT REWARDS: NONE

CIRCULATION CHARACTERISTIC: DEFLATIONARY
CIRCULATION RATE: DECREASE BY 1.5% PER MONTH

DEFLATION RATE: 18% per year

TOTAL CIRCULATION: 5.2 BILLION BY 2050, DECREASING BY 18% PER YEAR (200 MILLION AS OF NOVEMBER 2017)

EMISSION SCHEDULE PROJECTION: http://wiki.biblepay.org/Emission_Schedule
ECONOMICS: http://wiki.biblepay.org/Economics

DESCRIPTION:

A secure blockchain benefiting those in distress - 10% of the emission goes to sponsoring Orphans, with provable contributions, expenses contributed to compassion.com  - and future charities that are more than 75% efficient.  ** NOTE: THE COIN HAS RPC COMMANDS THAT PROVE 100% OF CONTRIBUTIONS ARE SPENT THE WAY INTENDED **
 


Proof of Work has been replaced with Proof Of Biblehash (POBh) - an algorithm that compensates full nodes participation,
  while preventing GPUs and ASIC by requiring full blockchain transaction referencing in the hashing function,
along with chained bible verses.  This means biblepay subsidizes full nodes that stay online.


Seven minute block targets minimize the blockchain file size, yet BiblePay does support Dash's instantsend for speedy transactions.
MasterNodes (called Sanctuaries) will come online after Christmas, allowing all expenses to be voted on and approved.

Expense receipts, to prove the sponshorship of new orphans, will be accessible from inside the wallet and we will even provide phone numbers for auditors to prove
 100% charity expenditures.  (From the rpc, type 'run contribution' to see the tithes into the foundation for a time period, and to see the outgoing sponsorship click the wallets 'Accountability' button to see
 a list of orphans, expenses, sponsorship dates, amounts, and the charity phone number, and txid).
  
For the first 6 months, 10% of each block will be allocated to the foundation, for sponsoring orphans at 100%.  Once per month, we will cash in anything over $40 available on an exchange, and sponsor orphans on our
volunteer time.

   After the sanctuaries go live, the 10% tithe will be diverted to an ongoing budget with DAO governance, voting, allowing the coin to function
as a dectralized autonomous charity; at that point the lead dev and volunteers will become a normal part of the community allowing the coin to run by itself.


To avoid wasting energy on meaningless SHA hashing, (or mining), biblepay introduces the BibleHash algorithm, that allows biblepay to
run on common commodity PCs, since the algorithm is resistant to porting to video cards and ASICs and is resistant to running in non-full node environments.

In addition to the low energy requirements and high efficiency of POB, the reward per block is set to be relative to the length of time the block took to solve,
(meaning that abusive hash attacks result in subsidy decreases).

The network will be high efficiency with low total energy consumption, and the charities sponsored must also be high efficiency (over 75%).
Next, we are deflationary, meaning that we start by issuing a larger amount of coins per block, and each year we tighten the supply by 10%.

The schedule is here: (205 blocks per day, 7 minute block targets):

EMISSION SCHEDULE PROJECTION: http://wiki.biblepay.org/Emission_Schedule


The block reward breakdown is as follows:
http://wiki.biblepay.org/Economics


After our sanctuaries go live, we allocate 10% of each block subsidy to our governance committe (a DAO), automatically, with 100% of that being
spent on charity, and 5% to IT expenses and PR.

Over time, our sanctuaries will become a charity governance committee, to allow our community to take over the day to day operations of the charity: voting on where the money is spent, how much is spent.
This way, we will not be centralized.


We only partner with charities over 75% efficient, meaning over 75% reach the end-user.



NO PREMINE - the lead dev starts with zero, the orphan foundation fund starts with zero, the distribution is entirely fair.  NO ICO.  The distribution curve is evenly declining with no hidden bumps early.
The self-governance committee and masternode payments are deliberately delayed until Christmas, to allow people to prepare and save up the initial requirement.  Running a sanctuary is open to anyone.
The lead dev will sponsor the first 10 orphans out of his own pocket.

Accountability:

The wallet will have a reconciliation page built in at go live, to show all charitable income and expenses.

The expenses will be auditable - to prove the money actually was spent on orphans.

This will be accomplished through the use of : an RPC audit command that tallies the orphan income from the blockchain,
and secondly, an API connection to a database that stores the Compassion expenses (until sanctuaries go live), with auditable backing contact info for each expense.
We will also provide a web page with pictures of the sponsored orphans clicable from the wallet to show our investors what good we are doing.
And finally- we will maintain a copy of receipts in order to maintain 100% accountability.

Future Feature:
Pay to Preach, in wallet ineractive prayer rooms.


ROADMAP:
JULY-DECEMBER 2017: GO LIVE, SPONSOR ORPHANS MONTHLY
JANUARY 2018:  MASTERNODES (SANCTUARIES) GO LIVE
FEBRUARY 2018: MARKETING, IN WALLET PRAYERS

MAY 2018: MARKET BIBLEPAY AS A 401K ALTERNATIVE

Novel distinct features of BiblePay:

Proof of Bible Hash algorithm (POBh), getblockinfo shows the chained bible verses required to solve the block,
sending money exposes a Tithe checkbox - allowing 10% to be gifted to the orphan foundation,
wallet has an in-wallet prayer system, allowing a user to send out a prayer request to the network or store prayers in the chain for the community to pray for from the overview page,
Transactions support in-chain messages, Instant Send, Voting, Decentralized Automated Charity Governance Committee, Repentance of Sins, Contributing to the orphan foundation checkbox, and reading the sin list and various staple prayers in wallet.


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July 23, 2017, 09:47:03 PM
 #2

Religious connotation aside, this is an interesting use of hashing to support a blockchain. Checking your Github.

Windows wallet gave 2/59 detections. They look like false positives but as with any untrusted software, run it on a virtual machine if you're going to run it at all.

https://www.virustotal.com/en/file/d6de45ea4ba289f7ccb54952a3fd506b46553b7beae9f48fa31485aa5b2fb012/analysis/1500846561/

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July 23, 2017, 09:49:22 PM
 #3

algo?wallet binary?POW?
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July 23, 2017, 09:49:30 PM
 #4

Is this coin related to any religion, if yes - can you explain why?



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Someone47
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July 23, 2017, 09:50:33 PM
 #5

Novel distinct features of BiblePay:

Proof of Bible Hash algorithm, getblockinfo shows the chained bible verses required to solve the block

lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏

سلام
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July 23, 2017, 09:55:13 PM
 #6


lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏
You just wrote those kind words to get reward ? Sad to tell you that you licked for vain ... NO PREMINE

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July 23, 2017, 09:56:45 PM
 #7


lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏
You just wrote those kind words to get reward ? Sad to tell you that you licked for vain ... NO PREMINE

No I don't want a reward Cheesy
I just thought it's interesting to see what the dev did here its cool

سلام
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July 23, 2017, 09:57:13 PM
 #8

Novel distinct features of BiblePay:

Proof of Bible Hash algorithm, getblockinfo shows the chained bible verses required to solve the block

lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏

Thanks a lot for the compliments.  Since we have no premine, I have no biblepay yet.

The windows binary is here:

www.biblepay.org

As far as false positives, the download will show a warning even from the HTTPS:// download for a while, since the binary is new.  I understand that after we become more popular, the warning will go away.  Feel free to virus scan us in the mean time at virustotal.com for instance.

▄     B I B L E P A Y    ▄     The Cryptocurrency for Christians   ▄      B I B L E P A Y      ▄
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July 23, 2017, 10:00:29 PM
 #9

Novel distinct features of BiblePay:

Proof of Bible Hash algorithm, getblockinfo shows the chained bible verses required to solve the block

lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏

Thanks a lot for the compliments.  I don't have any BBP yet as I only ran my two dev nodes up to block 7 in order to add a checkpoint to the source.  The mined coins require 101 confirms also, but I will be happy to send you some tomorrow.

Please give me a few minutes to reply to the other questions, I am preparing for the go-live and releasing the windows binary here:

www.biblepay.org

As far as false positives, the download will show a warning even from the HTTPS:// download for a while, since the binary is new.  I understand that after we become more popular, the warning will go away.  Feel free to virus scan us in the mean time at virustotal.com for instance.


Could you please post those two nodes in the OP so I can manually add them? I'm not getting any connections from inside this sandbox where I have the wallet.

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July 23, 2017, 10:05:16 PM
 #10

Is this coin related to any religion, if yes - can you explain why?

Its primary humanitarian function is to sponsor orphans as a DAO, over the long term (orphans as in parentless children in 3rd world countries).

It also includes the BibleHash algorithm, and the KJV bible is compiled in the coin.  The KJV bible is Christian.

▄     B I B L E P A Y    ▄     The Cryptocurrency for Christians   ▄      B I B L E P A Y      ▄
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July 23, 2017, 10:11:29 PM
 #11

Novel distinct features of BiblePay:

Proof of Bible Hash algorithm, getblockinfo shows the chained bible verses required to solve the block

lol nice altcoin with innovation. rarely seen these day!

Bless you dev. Can I get some BBP sent to me? Please PM me.

🙏

Thanks a lot for the compliments.  I don't have any BBP yet as I only ran my two dev nodes up to block 7 in order to add a checkpoint to the source.  The mined coins require 101 confirms also, but I will be happy to send you some tomorrow.

Please give me a few minutes to reply to the other questions, I am preparing for the go-live and releasing the windows binary here:

www.biblepay.org

As far as false positives, the download will show a warning even from the HTTPS:// download for a while, since the binary is new.  I understand that after we become more popular, the warning will go away.  Feel free to virus scan us in the mean time at virustotal.com for instance.


Could you please post those two nodes in the OP so I can manually add them? I'm not getting any connections from inside this sandbox where I have the wallet.


Sorry, running a little late on the go-live.  So, we have a seed node compiled in:

node.biblepay.org

That node is an external node and is now running.  Now you should see connections.  We are on block #12.

Note, you do not have to add the node manually, it is compiled in as an auto-add when the program starts.

Note, that you do have to set "gen=1" in your config file to start generating coins.

Alternatively to get running right away, you can type 'setgenerate true' in the rpc.



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July 23, 2017, 10:17:30 PM
 #12

algo?wallet binary?POW?

Algo: BibleHash Algorithm (PC Only, no ASICs or GPUs)

Wallet Binary:  www.biblepay.org

Source: See OP Page 1 Post

Pow/Pos:  POW only, through BibleHashAlgo (No POS later)




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July 23, 2017, 10:26:39 PM
 #13

Hmm, still waiting on a wallet connection. Hope I get one.

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July 23, 2017, 10:27:45 PM
 #14

distribution coin use mining or how
only mining without stake coin (POs)
and not open ico selling and open bounty

what is diference PROOF OF BIBLEHASH with pow or pos

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July 23, 2017, 10:29:07 PM
 #15

May I use this coin if I'am atheist?  Grin

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July 23, 2017, 10:31:39 PM
 #16

Sorry, but I do not understand how the blocks mined? CPU load at zero, but 1 block is already mined

HUG node - HNLhjuzyQ1LHXctvYYA76LpjtUQEaJ7HJe
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July 23, 2017, 10:33:54 PM
 #17

Hmm, still waiting on a wallet connection. Hope I get one.


On the wallet connection:
telnet node.biblepay.org 40000
(We are on port 40000, looks like it is working, please try manually adding the node with addnode node.biblepay.org?) (Shouldnt have to).

Next:

What is diference PROOF OF BIBLEHASH with pow or pos:
POB is a flavor of POW, but since the algorithm contains all 31000 bible verses, it would be a feat to port it to an asic (since the results are md5 chained and encrypted), so it keeps the full nodes hashing on PCs, and keeps the energy consumption down.

Next:

May I use this coin if I'am atheist?  Grin

LOL, Yes of course.  As a community I hope we can help convince you that God exists (I am not starting a war, so please take that in a positive way).


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July 23, 2017, 10:35:48 PM
 #18

what this coin it will be used for?



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bible_pay
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July 23, 2017, 10:39:54 PM
 #19

Sorry, but I do not understand how the blocks mined? CPU load at zero, but 1 block is already mined

That is just because difficulty is very low (< .0005) with only 5 of us or so online.  The POB algo will get harder as the bar is raised.


Usefulness of Coin:
The coin helps sponsor orphans, but attracts investors since we are deflationary.


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me1507
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July 23, 2017, 10:42:20 PM
 #20

Code:
Proof of Work has been replaced with Proof Of Biblehash (POB) - an algorithm that compensates full nodes participation,
  while preventing GPUs and ASIC by requiring full blockchain transaction referencing in the hashing function,
along with chained bible verses.  This means biblepay subsidizes full nodes that stay online.

I'm new to this algorithm,1st time heard, so this mean we have to set up a full node to get Biblepay ?

How much the block rewards ? is there any specific amount ?

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