BiblePay - New Coin Launch - Official Thread

[bible_pay]

Any plans on changing block reward? The economics are catching up.

No, not really, we had one complaint over the whole thread that I was going to be bent on changing emissions after Christmas, and that is simply not true.


  I feel the integrity of our economics is paramount and will be set in stone.  The enhancements created between go live and Christmas I think are of such a value add to the coin, they simply had to be added in for our community to finalize the emission schedule while Sanctuaries go live (The sanctuary event at Christmas is a mandatory change) so it was our last chance to finalize the emissions.  The things added to the original design are:  Better budget allocation (see below), 1.5% monthly deflationary schedule in emissions, and a 50-50 split between Sanctuaries and Miners to promote long term biblepay sanctuaries.

Therefore I would like to reiterate the proposed economics now, and modify the first page with the changes (as I think everyone agrees, these few changes are very, very positive).

Let me outline the major points of the economics proposed for the Christmas version of BiblePay, and say that you have my word this is the final version, with no major changes forever (all of the devs will agree that no changes will be made to the emissions or block subsidy after Christmas, so that our investors are comfortable in what they are investing in):

- Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy)
- 10% is given to Charity (IE compassion.com) through the sanctuary voted budget
- 5% is given to IT (through sanctuary voted IT expenses, such as IT payroll, letter writing, PR etc)
- Out of the 85% remaining it is split between one cold chosen sanctuary, who provides POSE (proof of service) that has waited longest to get paid, and the miner who found the block

- The deflation rate of our emission will be 1.5% Per Month after Christmas
- Each block rewards 10% in retirement coins to the miner who found the block, in colored coins called rBBP.  These can be traded on the secondary
market inside the wallet with other biblepay participants for BBP.  The retirement coins emission rate drops by 1% Per Day.

With these economics, our official projection up to 2050 will have to be re-created (I will take care of that Now).

Due to the higher deflation rate chosen when sanctuaries come online, and the effect of the difficulty on the schedule, the schedule will produce only about half of the coins over the long term as we originally projected (That is because the original projection didnt take into account the 1.5% monthly deflation rate that we added in as a bonus feature
for sanctuary go live, nor did it take into account the huge block difficulty the algorithm is experiencing which reduces each block reward significantly).

I will take care of that projection recreation today and repost everywhere and also update the OP with all of this so that we are exactly what we say we are.

Btw, Up to the block at Christmas, we currently have a tithe block - this is one block out of every 10 - which we give to compassion.com.  That block no longer will be created after Christmas.  It is then up to sanctuaries to vote on the Charity Budget for those expenses to be generated into superblocks.



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[seasonw]

So what is the difference between hps1 and hps2.

Hps1 is your pc hash, hps2 is what server get from you. What is connection between them dev's don't want tell... many bad words were said when people ask about it;)

Dev told but you have to read all the previous posts to find out. Dev also stated the calculation of HPS2 equation from HPS. Please read!

That's why I suggest dev to put it somewhere in OP or wiki.

This would be a good thing for someone to take on.  Someone to write a professional Help Guide for the entire pool, and then we can link to it from the pool.

Hps1 may be removed in the future, after we finalize the algorithm.  For now I would add it to the help Guide.

SeasonW, in the mean time it would be very helpful for you to add a wiki page about HPS, you can find the place I spoke about it and elaborate on it.

Its not your job to give work to me, its your job to ask what you can do for BiblePay.

Im working for free and trying to create a loving community.

No problem, but I will do once I'm free. I wanted to help testing the masternode but was busy to take part in it. Let's see if my boss stopped giving me weekend assignments 

[bible_pay]

I recreated the emission schedule and created these two pages:


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

ECONOMICS: http://wiki.biblepay.org/Economics


I will update the OP and the website.

[jaapgvk]

So what is the difference between hps1 and hps2.

Hps1 is your pc hash, hps2 is what server get from you. What is connection between them dev's don't want tell... many bad words were said when people ask about it;)

Dev told but you have to read all the previous posts to find out. Dev also stated the calculation of HPS2 equation from HPS. Please read!

That's why I suggest dev to put it somewhere in OP or wiki.

This would be a good thing for someone to take on.  Someone to write a professional Help Guide for the entire pool, and then we can link to it from the pool.

Hps1 may be removed in the future, after we finalize the algorithm.  For now I would add it to the help Guide.

SeasonW, in the mean time it would be very helpful for you to add a wiki page about HPS, you can find the place I spoke about it and elaborate on it.

Its not your job to give work to me, its your job to ask what you can do for BiblePay.

Im working for free and trying to create a loving community.

Next week I have some spare time. i could write a Help Guide for the pool.

[bible_pay]

I just had trouble adding a picture of a lamb to a letter.  If anyone is having trouble adding a picture to a letter in chrome try this:

Click the Menu Ellipsis | Settings | Scroll Down to Advanced and open | Scroll to the System Menu Div | Disable Use hardware acceleration.  Then I was able to add the picture successfully in chrome.  It should already work in other browsers.

[jaapgvk]

I just had trouble adding a picture of a lamb to a letter.  If anyone is having trouble adding a picture to a letter in chrome try this:

Click the Menu Ellipsis | Settings | Scroll Down to Advanced and open | Scroll to the System Menu Div | Disable Use hardware acceleration.  Then I was able to add the picture successfully in chrome.  It should already work in other browsers.

Has this 'bug' always been present? Because I've added a picture with Chrome in the past with  - I just checked - hardware acceleration enabled.

I'll write another letter later this evening to check...

[bible_pay]

I just had trouble adding a picture of a lamb to a letter.  If anyone is having trouble adding a picture to a letter in chrome try this:

Click the Menu Ellipsis | Settings | Scroll Down to Advanced and open | Scroll to the System Menu Div | Disable Use hardware acceleration.  Then I was able to add the picture successfully in chrome.  It should already work in other browsers.

Has this 'bug' always been present? Because I've added a picture with Chrome in the past with  - I just checked - hardware acceleration enabled.

I'll write another letter later this evening to check...

Yeah I had hw acceleration enabled and did it before too, so I guess just change it if its a last resort.

Its on google product forums as a known bug for the "File" container.

[616westwarmoth]

Will the retirement rBBP coins be solely for the miners or will it too be split between the miner and masternode?

[bible_pay]

Will the retirement rBBP coins be solely for the miners or will it too be split between the miner and masternode?

The rBBP goes to the miner who found the block, this way the security still works.  The pool will receive some rBBP also, so we will have to add retirement fields in the pool so you can withdraw your share of retirement coins also.

[PhaseshiftUK]

For those of you testing Masternodes (Sanctuaries) on the Testnet - over half of them need restarting:

[jaapgvk]

I just had trouble adding a picture of a lamb to a letter.  If anyone is having trouble adding a picture to a letter in chrome try this:

Click the Menu Ellipsis | Settings | Scroll Down to Advanced and open | Scroll to the System Menu Div | Disable Use hardware acceleration.  Then I was able to add the picture successfully in chrome.  It should already work in other browsers.

Has this 'bug' always been present? Because I've added a picture with Chrome in the past with  - I just checked - hardware acceleration enabled.

I'll write another letter later this evening to check...

Yeah I had hw acceleration enabled and did it before too, so I guess just change it if its a last resort.

Its on google product forums as a known bug for the "File" container.

Yeah, tried it again, and this time it didn't work with hw acceleration enabled...

[bible_pay]

I just had trouble adding a picture of a lamb to a letter.  If anyone is having trouble adding a picture to a letter in chrome try this:

Click the Menu Ellipsis | Settings | Scroll Down to Advanced and open | Scroll to the System Menu Div | Disable Use hardware acceleration.  Then I was able to add the picture successfully in chrome.  It should already work in other browsers.

Has this 'bug' always been present? Because I've added a picture with Chrome in the past with  - I just checked - hardware acceleration enabled.

I'll write another letter later this evening to check...

Yeah I had hw acceleration enabled and did it before too, so I guess just change it if its a last resort.

Its on google product forums as a known bug for the "File" container.

Yeah, tried it again, and this time it didn't work with hw acceleration enabled...

Thanks!  Good to know.

[bubbaraytheone]

What's that? a scam coin, a speculative coin, a shit or a stupid coin?

[616westwarmoth]

What's that? a scam coin, a speculative coin, a shit or a stupid coin?

With over 100 pages of discussion in three months, if that is your assessment of things you must think everything other than Bitcoin is a scam.

If you're genuinely asking but just grew up in an environment where you never learned how to articulate your thoughts, then no, not a scam, speculative or otherwise junk coin, but one that is bringing some novel concepts to the table, an active Dev and a robust and growing community.

[ferohers]

What's that? a scam coin, a speculative coin, a shit or a stupid coin?

I just read your latest posts. Had to read keywords "stupid" "stupid" "stupid" "scam" "scam" "big project". Poor boy you also defend one of the coin which is or was in ICO stage? I hope you the best with your coin which might be even real.

[tsaroz]

I'm not being able to sync the wallet. There are no any block source. Is there any nodes I'm missing to add? I'm using Biblepay Core version 1.0.2.2 (64-bit) which is the latest I got from website.

[jaapgvk]

I'm not being able to sync the wallet. There are no any block source. Is there any nodes I'm missing to add? I'm using Biblepay Core version 1.0.2.2 (64-bit) which is the latest I got from website.

That's not quite right... The latest version on the website is 1.0.4.8
If you have the latest version and can't connect, you could try:
addnode=97.99.69.33:40000

[bible_pay]

I'm not being able to sync the wallet. There are no any block source. Is there any nodes I'm missing to add? I'm using Biblepay Core version 1.0.2.2 (64-bit) which is the latest I got from website.

Looks like the external node max connections is pegged @ 1024 (Windows limit) maybe thats why (this only affects a brand new user before they sync peers.dat).  I think I will need to set up multiple seed nodes resolved by node.biblepay.org. 

Anyway try to add:
addnode=inspect.biblepay.network

To your config file and then restart.


(The node.biblepay.org is compiled in already).

[bible_pay]

I'm not being able to sync the wallet. There are no any block source. Is there any nodes I'm missing to add? I'm using Biblepay Core version 1.0.2.2 (64-bit) which is the latest I got from website.

Looks like the external node max connections is pegged @ 1024 (Windows limit) maybe thats why (this only affects a brand new user before they sync peers.dat).  I think I will need to set up multiple seed nodes resolved by node.biblepay.org. 

Anyway try to add:
addnode=inspect.biblepay.network

To your config file and then restart.


(The node.biblepay.org is compiled in already).

One thing I forgot to mention for new users: We have the Tools | One Click Mining config menu option in the wallet.  It automatically creates the config file and some addnodes for you.  If someone will please test it out, and see if it works properly.

[bible_pay]

So Ive been researching the difference between X11 and F7000 and have uncovered some more info related to HPS consistency across all processors platforms and instance counts.

Some of you have really been hard on me, especially those who cant grasp the distinction between a "node level mutex" and a "processor" mutex.  You even went as far as to say the BibleHash itself is inconsistent.  One thing Ive learned over 30 years in software, is nothing about a computer or its software is inconsistent.  (Unless someone puts a rand() statement in the code).  Another words, every "hard" problem that Ive seen over the years, in the end, always has a very clear reason. 

Let me explain the difference between a node mutex and a processor mutex.  A node mutex is one where an instance of the software is forced to wait somewhere in the
 *instance* of a program for a memory space to be available.  A processor mutex is one that consumes the entire processor and it does not have to wait except for new work, and the entire server is frozen in what appears to be a locked state (btw, a crash is very different than a consumed processor).

So with BiblePay, with Pre-F7000, we had a processor mutex, in the sense that one had to buy more hash power to hash against the money supply.  With F7000, the goal was originally more of a much stronger line of defense against GPU porting, hence the reason we added the node mutex.  Ill stop here and explain.  There are two places in BibleHash that are extremely hard or impossible to run on a GPU: asking the node to go back in the chain for a block index hash, or for example a transaction hash.  Since the node level instance stops hashing while it waits for the data, the other mining threads slow down.  Otoh, if you run multiple degraded instances on one server, you have parallel stops.  However, what I dont like about that is it encourages low quality instances whereas I believe it is healther for us as a community to have higher quality instances.

So in light of this, the basic explanation is that F7000 does do its job in preventing BibleHash from running on a GPU, but it promotes the user to run as many low quality nodes as possible to squeeze as many BBP per hour from our community. 

I think the answer to this is during the Christmas update (Sanctuaries), we release F8000 with a few more enhancements to fix the problem (we can test these in testnet as soon as available).  #1:  Add a math problem to BibleHash.  This would force the processor to execute a few hundred K of instructions deterministically but unknown at the time of the hash (IE Block hash + timestamp  hashed) so no one can predetermine the problem, and this solution would be similar to executing N X11's hashes for a second or so, thereby changing the state of the nodes miner back to a processor mutex level, thereby solving the degrading network problem. 

The other thing I would like to introduce before Christmas update is making mining more of a privilege.  I was thinking, instead of asking BiblePay to pay you simply because you plug a computer in and *want* to hash, what if BiblePay wants you to contribute to the community?  I was thinking at the very least, the node will somehow need to ask the miner to Repent for sins and make a blog of progress.  Maybe we make the mining software require a Repentant sin in the block, (IE Think of the 40 mortal sins listed in Send Money (in the wallet) | check Repent | Look at the dropdown values), maybe each week, the miner must repent of a sin, and describe how they are doing in their walk of repenting for sins in the message.  If no repentance is being given, no mining is awarded.  But each week, either a new description in the walk of a sin free life must be added, or - a new sin to be worked on, this way we can hash the repentance information and ensure it is changing once every 7 days (this way, if its done once a week, its similar to keeping the Sabbath).  So our miner would help you Keep the Sabbath.  You will wonder, how will we enforce it?  I think we can have a REST URI built in, and have the sanctuaries run the RESTful web service, and ban miners who arent repenting coherently.  Their miners would be shutdown.  It could be a service we require of the sanctuaries.

I think these two features would make BiblePay consistent across all platforms, and require a level of participation to weed & feed out the wheat from the chaff in the community.