BiblePay - New Coin Launch - Official Thread

[muf18]

Sorry to distrupt your enthusiasm - but who would pay 1$ for a coin which has bilions in circulation apart if it's XEM or RIPPLE, but even them arent so expensive.
Current price is quite high, because inflation must took place, 1.5B in first year, it's a big number. If it will cost more than 100 sats, it's only due to shortage of coins on exchange, so it wont be real, there will be bilions of these coins, it will be next Dogecoin of crypto (still dont think it will be so successful), with one of the biggest supply ever.

[happy_merchant]

Sorry to distrupt your enthusiasm - but who would pay 1$ for a coin which has bilions in circulation apart if it's XEM or RIPPLE, but even them arent so expensive.
Current price is quite high, because inflation must took place, 1.5B in first year, it's a big number. If it will cost more than 100 sats, it's only due to shortage of coins on exchange, so it wont be real, there will be bilions of these coins, it will be next Dogecoin of crypto (still dont think it will be so successful), with one of the biggest supply ever.

$1 dollar is overly optimistic, but if you look at it in terms of market cap then a price between 100-1000 sats by 2020 wouldn't be entirely unrealistic (1000 sats is kind of pushing it, that'd place it in the top 30 coins). That said, it could easily go for much less than that depending on any number of factors, but there's plenty of room for realistic growth.

Honestly, if you're just looking for something that'll shoot to the moon, there's probably better choices. As far as I can tell, the devs aren't making any outrageous claims about the platform or pretending to revolutionize cryptocurrency, so barring any 3rd party manipulation there shouldn't be any huge hype-driven P&Ds. In most of the BBP discussions I've seen, the consensus seems to be that it's something you hold long term. If that ends up being the trend, we should see consistent growth over time.

[inblue]

As far as I can tell, the devs aren't making any outrageous claims about the platform or pretending to revolutionize cryptocurrency

But this is exactly why I am bullish about BiblePay.

[happy_merchant]

But this is exactly why I am bullish about BiblePay.

Same. I have plenty of risky investments, I see BBP as something close to a low risk altcoin. The project has already followed through on its main promise so there's not really any imminent risk of the whole thing collapsing.

The only long term issue that I can see is that the charity part is highly centralized. I know the dev mentioned handing the decision making power regarding the charity over to the masternodes, but at the end of the day there will have to be an individual or group in charge of handling the charity wallet, auctioning it off, converting it to fiat, communicating with the charity organizations, and actually making the donations. That couples BBP really tightly to that individual/group, so if anything happens to them the entire project would come to a halt. Will be interesting to see how much of that process can be decentralized. I'm pretty sure other coins have had similar issues though, so there's probably a lot of case studies on various solutions.

[inblue]

The only long term issue that I can see is that the charity part is highly centralized. I know the dev mentioned handing the decision making power regarding the charity over to the masternodes, but at the end of the day there will have to be an individual or group in charge of handling the charity wallet, auctioning it off, converting it to fiat, communicating with the charity organizations, and actually making the donations. That couples BBP really tightly to that individual/group, so if anything happens to them the entire project would come to a halt. Will be interesting to see how much of that process can be decentralized. I'm pretty sure other coins have had similar issues though, so there's probably a lot of case studies on various solutions.

If BiblePay takes off and donations per month rise to some serious levels, I think it's not unreasonable to imagine that one of the people in the Compassion team could actually install the BiblePay wallet and just do the exchange to their fiat account once a month, especially because they have a vice president of Information Technology. Also other executives and VPs, such as CFO or VP of finance. The devs could contact them and help them set everything up. I imagine it would then be fairly simple to explain how to withdraw dollars once a month.

So a Compassion BiblePay donation address could be coded into the algorithm for them to automatically receive payments. Then in the beginning I would not allow for masternodes to vote to change that address because of the 51% attack, but it could be allowed later when there are many more masternodes. But in the meantime, even though it's centralized, the most trusted way is definitely the actual dev of the coin sending them money. We are still early anyway.

[seasonw]

It is good to know pool started to charge fee to cover development and server cost. Does it mean that it is officially released now?


BTW, what does it mean by "Anonymous User Pool Fee"? I thought we have to create pool account in order to mine?

Its still not ready for prod, still beta.  We have a couple open items in the testnet testing thread for the pool that should make it nicer.

The anonymous row is the fee subtracted from the mining credit when the user has 'cloaked' their profile from the public.

The fee is still 0 for non-anonymous users.

Oh I see, thanks for your explanation. I follow this thread and started my mining about 2 weeks ago, I can see how active dev is, good future of this coin. Trying to mine as much as I can, then maybe I want to setup masternode later too.

[Seyar]

Plans to setup an Slack or Telegram group?

Also what are the plans on adding Bittrex / Cryptopia / Yobit to the exchange list?

[Retired]

A Telegram group or a Slack would indeed be helpful to keep updated on new developments.

[bible_pay]

Plans to setup an Slack or Telegram group?

Also what are the plans on adding Bittrex / Cryptopia / Yobit to the exchange list?

We are going to have a slack group within 30 days, and invite more developers, and create functions like PR, Charity, Orphan communications, etc.

Our next mandatory is not released yet, so I would rather see that updated at c-cex before bringing on any new exchanges.  However, we have reached out to 3.

As far as revolutionary achievements, maybe God will give us that ability.  I could see us working on a standardized
 crypto payment gateway that benefits more wallets than just ours simultaneously - a service that allows instant debit/credit card payments from any currency with enough market depth.  I have a lot of info on this already, but I have to dig it up.

[Retired]

The debit/credit card payments would definitely be awesome for this coin.

[Mrbates]

This coin will rise to biblical proportions!

I had to.

[616westwarmoth]

Sorry to distrupt your enthusiasm - but who would pay 1$ for a coin which has bilions in circulation apart if it's XEM or RIPPLE, but even them arent so expensive.
Current price is quite high, because inflation must took place, 1.5B in first year, it's a big number. If it will cost more than 100 sats, it's only due to shortage of coins on exchange, so it wont be real, there will be bilions of these coins, it will be next Dogecoin of crypto (still dont think it will be so successful), with one of the biggest supply ever.

I'm not really saying it will hit $1 a coin any time, just using that as a "it hits the moon" sort of example.  Then dialing it back to 1% of that ($0.01) and you can see even at the one cent level (far more realistic in the coming year or even three) the Orphan Fund would be bringing in a significant amount of money, which could do a significant amount of good.

[kissmarx]

Today is my first time to hear about BiblePay Coin. I'm glad the BBP developer's team came up with this as we need some heavenly morality in the cryptocurrency world. And the plus factor is that this wallet is unique as it has The Bible built-in. I just pray we will be blessed. May God be glorified in what we do.

[tryyouman]

I could connect to the pool until now, but now I can not.
The setting has not changed.
I restarted.
Do you know the cause?


getmininginfo

{
  "blocks": 4686,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 0.006758830011511308,
  "errors": "",
  "genproclimit": 24,
  "networkhashps": 116986188.5245902,
  "hashps": 82744.4537743541,
  "minerstarttime": "08-25-2017 17:08:44",
  "pooledtx": 0,
  "testnet": false,
  "chain": "main",
  "biblepay-generate": true,
  "poolinfo1": "B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; ",
  "poolinfo2": "RM_08-25-2017 17:09:21; RM_08-25-2017 17:10:21; RM_08-25-2017 17:11:06; RM_08-25-2017 17:11:07; RM_08-25-2017 17:11:03; ",
  "poolinfo3": "POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; ",
  "miningpulse": 1342,
  "poolmining": false
}

[616westwarmoth]

The Dev has been doing some significant updates to the pool website, and I'd guess he's done a lot of code changes too.  I get the same error as well, but I'm pretty sure it's just the temporary cost of doing things with a new project.  You'll have some downtime when you upgrade the underpinnings.

That said, you will revert to solo mining when the pool is down, which isn't a great deal for everyone but you do get a shot at the entire 18K (after Orphan Fund) block reward every 7 minutes.

[yrem8]

We are going to have a slack group within 30 days, and invite more developers

Love it, praise you!

[bible_pay]

I could connect to the pool until now, but now I can not.
The setting has not changed.
I restarted.
Do you know the cause?


getmininginfo

{ POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; ",
  "miningpulse": 1342,
  "poolmining": false
}

Like Westwarmoth said it was a bad day for the pool, but its been partially upgraded to handle the load now.  Please hit it now.  We will look into either adding a second or increasing the server power next week.

[GeniusX]

I could connect to the pool until now, but now I can not.
The setting has not changed.
I restarted.
Do you know the cause?


getmininginfo

{
  "blocks": 4686,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 0.006758830011511308,
  "errors": "",
  "genproclimit": 24,
  "networkhashps": 116986188.5245902,
  "hashps": 82744.4537743541,
  "minerstarttime": "08-25-2017 17:08:44",
  "pooledtx": 0,
  "testnet": false,
  "chain": "main",
  "biblepay-generate": true,
  "poolinfo1": "B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; ",
  "poolinfo2": "RM_08-25-2017 17:09:21; RM_08-25-2017 17:10:21; RM_08-25-2017 17:11:06; RM_08-25-2017 17:11:07; RM_08-25-2017 17:11:03; ",
  "poolinfo3": "POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; POOL DOWN-REVERTING TO SOLO MINING; ",
  "miningpulse": 1342,
  "poolmining": false
}

"genproclimit": 24, need lower thread


make it 23

[tryyouman]

Like Westwarmoth said it was a bad day for the pool, but its been partially upgraded to handle the load now.  Please hit it now.  We will look into either adding a second or increasing the server power next week.

Thanks!
It is ok now.

[Ginzink]

Have the wallet changed? I get much lower hash now with same thread as before (and also lower usage on cpu)