BiblePay - New Coin Launch - Official Thread

[bible_pay]

This coin is buried somewhere around the 500 rank.  Most people who are going to Prestonwood, Stonebrier or much smaller churches have no idea about this coin and its mandate.  They aren't spending their evenings scanning coinmarketcap looking for a charity coin.

Do you have any marketing ideas?

An acquaintance posted about BiblePay on a few Christian Facebook groups but they werent interested.

Even a lot of really smart people (even a lot I know personally) think Cryptocurrencies are a ponzi scheme still.

===

I really like this coin because its max supply is 5 billion by 2050, so there is still a lot of time for people to get into it.

We need a good way to educate people about Cryptocurrencies. It will happen in time on its own, but will take time...

We are the 1st users, the testers, the techies, we are the early adopters.

===

Bitcoin Demographics:

https://thenextweb.com/insider/2016/01/22/bitcoin-owners-are-still-white-male-techies-to-no-ones-surprise/
"91.8 percent defined themselves as male, 72.5 percent said they are white and 65.8 percent declared themselves a techie."

https://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/

https://cointelegraph.com/news/bitcoin-users-who-they-are-and-what-they-do

===

7 Stats That Highlight A Millennial Propensity For Bitcoin
https://www.forbes.com/sites/spencerbogart/2017/11/08/7-stats-that-highlight-a-millennial-propensity-for-bitcoin/#5d706bdb32c4

I didnt realize 2/3'rds of bitcoin users were non religious.  That and the propensity for millenials to hold $1000 bitcoin as an inflation hedge.
Those two things complement Biblepay very well.  We should target those non-religious and have a program for them that "challenges" their belief system, and also with our consistent 19.5% deflationrate, we are an excellent candidate to hold for the inflation hedge.

[coinpimp321]

An acquaintance posted about BiblePay on a few Christian Facebook groups but they werent interested.

Even a lot of really smart people (even a lot I know personally) think Cryptocurrencies are a ponzi scheme still.

===

I really like this coin because its max supply is 5 billion by 2050, so there is still a lot of time for people to get into it.

We need a good way to educate people about Cryptocurrencies. It will happen in time on its own, but will take time...

We are the 1st users, the testers, the techies, we are the early adopters.

Alt coins are a ponzi scheme. You just need to have a huge supply of the coin to mined early on (100's of million) and then sell that off to an 'investor' group who will buy them from you. That group hopes the price will rise and in turn sell them downstream to the next group in the scheme. And so does that group and on and on.

The formula MUST have huge supply of coins for this to work. otherwise how can the initial teams profit if their tokens are valued at 1/100th of a cent when they enter the exchanges. 'we make it up on volume' principle holds true here. Its all about the market cap for this scheme as it feeds the greed and hopes of new comers to the ponzi.

At no point  in this chain is there a functional purpose of the coin other than price speculation. For most all alt coins this is true. Only the very high tech ones like ethereum aim to build an actual platform for functional utility.

Biblepay is unique in that it claims to portion an amount to charity. And it has 237 million coins mined

[coinpimp321]

Would you like it better if his name was Judas?

well that was the challenge question that was programmed at the pool

'Judas Priest'

Interesting thing about Judas, John attributes this to Judas:
http://biblehub.com/niv/john/12.htm

But one of his disciples, Judas Iscariot, who was later to betray him, objected, 5“Why wasn’t this perfume sold and the money given to the poor? It was worth a year’s wages.b ” 6He did not say this because he cared about the poor but because he was a thief; as keeper of the money bag, he used to help himself to what was put into it.

7“Leave her alone,” Jesus replied. “It was intended that she should save this perfume for the day of my burial. 8You will always have the poor among you,c but you will not always have me.”


Mathew and Mark have more to write about the situation:
http://biblehub.com/niv/matthew/26.htm
http://biblehub.com/mark/14-5.htm

While Jesus was in Bethany in the home of Simon the Leper, 7a woman came to him with an alabaster jar of very expensive perfume, which she poured on his head as he was reclining at the table.

8When the disciples saw this, they were indignant. “Why this waste?” they asked. 9“This perfume could have been sold at a high price and the money given to the poor.”

10Aware of this, Jesus said to them, “Why are you bothering this woman? She has done a beautiful thing to me. 11The poor you will always have with you,a but you will not always have me. 12When she poured this perfume on my body, she did it to prepare me for burial. 13Truly I tell you, wherever this gospel is preached throughout the world, what she has done will also be told, in memory of her.”


I don't believe that wherever the gospel is being preached throughout the world, that what the woman in Bethany did, is also being told.  I think that is something that has to happen for the preaching of the gospel throughout the world to be authentic, and considered done.

Furthermore:
"The poor you will always have with you,a but you will not always have me."
This brings up what I call the Judas contrapositive:  If I (Jesus) am with you, we should celebrate.  We should give it to the poor, then I (Jesus) am away from you.
The contrapositive is a logical construct: If p then q; *q then *p (that is not q then not p).  p=I am with you; q=we should celebrate;*q= we should give it to the poor; *p=I am away from you.  So in other words, the logical consequence of Jesus being ascended and away is that we should spend money on the poor, which is exactly what this project aims to do.

I always think of that statement 'the poor you will always have' as a statement of the futility of the promises of communism and socialism. Or as its rebranded today 'basic income'. The idea that poverty can go away if we only redistributed the wealth. In other words, no matter what mechanisms man comes up with Jesus tells us that the poor in life will always be a fact.

[aikida3k]

An acquaintance posted about BiblePay on a few Christian Facebook groups but they werent interested.

Even a lot of really smart people (even a lot I know personally) think Cryptocurrencies are a ponzi scheme still.

===

I really like this coin because its max supply is 5 billion by 2050, so there is still a lot of time for people to get into it.

We need a good way to educate people about Cryptocurrencies. It will happen in time on its own, but will take time...

We are the 1st users, the testers, the techies, we are the early adopters.

Alt coins are a ponzi scheme. You just need to have a huge supply of the coin to mined early on (100's of million) and then sell that off to an 'investor' group who will buy them from you. That group hopes the price will rise and in turn sell them downstream to the next group in the scheme. And so does that group and on and on.

The formula MUST have huge supply of coins for this to work. otherwise how can the initial teams profit if their tokens are valued at 1/100th of a cent when they enter the exchanges. 'we make it up on volume' principle holds true here. Its all about the market cap for this scheme as it feeds the greed and hopes of new comers to the ponzi.

At no point  in this chain is there a functional purpose of the coin other than price speculation. For most all alt coins this is true. Only the very high tech ones like ethereum aim to build an actual platform for functional utility.

Biblepay is unique in that it claims to portion an amount to charity.

By your definition all stocks are ponzi schemes.  Stocks are basically 'premined' by total shares outstanding.  The float is then sold to investors.  The rest is locked up to either insiders or the company treasury.  The nice thing about cryptocurrencies is that they generally don't get diluted whereas stocks can issue more shares and dilute their investors if they so choose.  Also cryptocurrencies don't have earnings estimates to miss.  If your stock misses its earnings estimate then it generally gets whammed.

[bible_pay]

Venezuela:
"
Already, its 32 million citizens are suffering shortages of food, medicine and other essentials as their money, the bolivar, is decimated by hyperinflation and recession reigns. Hundreds of thousands have left the country to survive, and many, many more could follow.
"

Here is a real world use for Biblepay.  If Venezuela would buy BBP monthly and then buy food with BBP, they would have a more stable currency than they have now (IE 19% Deflation instead of 7000% inflation).

[aikida3k]

Would you like it better if his name was Judas?

well that was the challenge question that was programmed at the pool

'Judas Priest'

Interesting thing about Judas, John attributes this to Judas:
http://biblehub.com/niv/john/12.htm

But one of his disciples, Judas Iscariot, who was later to betray him, objected, 5“Why wasn’t this perfume sold and the money given to the poor? It was worth a year’s wages.b ” 6He did not say this because he cared about the poor but because he was a thief; as keeper of the money bag, he used to help himself to what was put into it.

7“Leave her alone,” Jesus replied. “It was intended that she should save this perfume for the day of my burial. 8You will always have the poor among you,c but you will not always have me.”


Mathew and Mark have more to write about the situation:
http://biblehub.com/niv/matthew/26.htm
http://biblehub.com/mark/14-5.htm

While Jesus was in Bethany in the home of Simon the Leper, 7a woman came to him with an alabaster jar of very expensive perfume, which she poured on his head as he was reclining at the table.

8When the disciples saw this, they were indignant. “Why this waste?” they asked. 9“This perfume could have been sold at a high price and the money given to the poor.”

10Aware of this, Jesus said to them, “Why are you bothering this woman? She has done a beautiful thing to me. 11The poor you will always have with you,a but you will not always have me. 12When she poured this perfume on my body, she did it to prepare me for burial. 13Truly I tell you, wherever this gospel is preached throughout the world, what she has done will also be told, in memory of her.”


I don't believe that wherever the gospel is being preached throughout the world, that what the woman in Bethany did, is also being told.  I think that is something that has to happen for the preaching of the gospel throughout the world to be authentic, and considered done.

Furthermore:
"The poor you will always have with you,a but you will not always have me."
This brings up what I call the Judas contrapositive:  If I (Jesus) am with you, we should celebrate.  We should give it to the poor, then I (Jesus) am away from you.
The contrapositive is a logical construct: If p then q; *q then *p (that is not q then not p).  p=I am with you; q=we should celebrate;*q= we should give it to the poor; *p=I am away from you.  So in other words, the logical consequence of Jesus being ascended and away is that we should spend money on the poor, which is exactly what this project aims to do.

I always think of that statement 'the poor you will always have' as a statement of the futility of the promises of communism and socialism. Or as its rebranded today 'basic income'. The idea that poverty can go away if we only redistributed the wealth. In other words, no matter what mechanisms man comes up with Jesus tells us that the poor in life will always be a fact.

Yes, it means ultimately capitalism wins.  That is a valid interpretation.  I agree.

But music, with a basic income would get awesome.  Creative musicians would have all day to practice and create.

[coinpimp321]

By your definition all stocks are ponzi schemes.  Stocks are basically 'premined' by total shares outstanding.  The float is then sold to investors.  The rest is locked up to either insiders or the company treasury.  The nice thing about cryptocurrencies is that they generally don't get diluted whereas stocks can issue more shares and dilute their investors if they so choose.  Also cryptocurrencies don't have earnings estimates to miss.  If your stock misses its earnings estimate then it generally gets whammed.

huge difference with stocks. they are regulated. the gov can pull your corporate charter at any time and kill the company. that gives a measure of stability and investor confidence. huge huge difference than crypto where any fly by night can fork a project, change a few lines of code, and have established miners jump on it for the next pump and dump. you cant compare the two

also you are incorrect that cryptos cant get diluted. a coin can offer an infinite amount 'colored' versions of itself. or tokens based on the coin (like ethereum erc20). google stock can only be google stock. alt coin can be alt coin-red coin-blue etc edition.

there is no accountability with crypto alts coins (worse with ICOs). you can operate in obscurity and cover your tracks the whole time. and come up with new schemes to generate investor interest. not so with a stock company.  

[coinpimp321]

Venezuela:
"
Already, its 32 million citizens are suffering shortages of food, medicine and other essentials as their money, the bolivar, is decimated by hyperinflation and recession reigns. Hundreds of thousands have left the country to survive, and many, many more could follow.
"

Here is a real world use for Biblepay.  If Venezuela would buy BBP monthly and then buy food with BBP, they would have a more stable currency than they have now (IE 19% Deflation instead of 7000% inflation).

illusions of grandeur but...

they are working with the Chinese to come out with their own crypto. ultimately bitcoin and alts are destined / designed? to crash national fiat currencies. Its QE injection without borders

[aikida3k]

By your definition all stocks are ponzi schemes.  Stocks are basically 'premined' by total shares outstanding.  The float is then sold to investors.  The rest is locked up to either insiders or the company treasury.  The nice thing about cryptocurrencies is that they generally don't get diluted whereas stocks can issue more shares and dilute their investors if they so choose.  Also cryptocurrencies don't have earnings estimates to miss.  If your stock misses its earnings estimate then it generally gets whammed.

huge difference with stocks. they are regulated. the gov can pull your corporate charter at any time and kill the company. huge huge difference than crypto where any fly by night can fork a project, change a few lines of code, and have established miners jump on it for the next pump and dump.

also you are incorrect that cryptos cant get diluted. a coin can offer an infinite amount 'colored' versions of itself. or tokens based on the coin (like ethereum erc20). google stock can only be google stock. alt coin can be alt coin-red coin-blue etc edition.

there is no accountability with crypto alts coins (worse with ICOs). you can operate in obscurity and cover your tracks the whole time. not so with a stock company.  

You, my friend, have not spent enough time in the pink sheets!  As a general rule of thumb, they are much worse and much more apt to be shell companies and have fake assets, etc than the cryptos.  With cryptos, especially the ones that are not premined, you still have the miners to satisfy and everyone starts out somewhat evenly.  So even in a pump situation if you buy low and sell high you can still end up okay.  I am not saying there aren't crypto scams, I am not saying they don't get diluted at all, but most coins have a hard cap.  There are some aspects of commoditization with cryptos, but that is where PR can be used to set coins apart from the mass market.  

Also I would say that most coins that are designed to pump have some burn feature incorporated.  Two interesting ones to note that I am watching but am not invested in are Slim coin (SLM) and Obits token.  Slim coin works with PoW, PoS and PoB, proof of burn where in order to mine some coins can be burned in order to mint more coins in the future.  They are only on one exchange and that exchange is having problems.  They are looking to relist somewhere else.  The technology is interesting imo.  OBITS is a token that is listed on its own exchange.  The owner of the exchange then acts to buy back and burn tokens each month, decreasing the outstanding supply.  It is one token where the supply is actually decreasing.  I AM NOT RECOMMENDING THESE.  I AM JUST WATCHING THEM FOR FUN AND INTEREST.  I enjoy the market dynamics of these cryptocurrencies.  

[zthomasz]

Has anyone been able to deposit USD into a C-CEX account? I've tried to buy C-CEX codes at the 3 websites they have listed, but one is offline and the other two are very sketchy about the process. Also, the Payeer deposit method doesn't provide service to US citizens.

Id recommend Coinbase:  https://www.coinbase.com/

or GDAX (same company as Coinbase but less fees):  https://www.gdax.com/

And buy Bitcoin there and then transfer it to C-CEX:  https://c-cex.com/?p=bbp-btc

Thanks togoshigekata ... I appreciate the guidance.

[zthomasz]

Has anyone been able to deposit USD into a C-CEX account? I've tried to buy C-CEX codes at the 3 websites they have listed, but one is offline and the other two are very sketchy about the process. Also, the Payeer deposit method doesn't provide service to US citizens.

Id recommend Coinbase:  https://www.coinbase.com/

or GDAX (same company as Coinbase but less fees):  https://www.gdax.com/

And buy Bitcoin there and then transfer it to C-CEX:  https://c-cex.com/?p=bbp-btc

I've got trading accounts at five or six places.  The cheapest to GDAX.  The trick is do a bank transfer from your US bank to the Coinbase account.  It will take about a week (or did the last time I tried) but zero fees.  The go to GDAX, log in there with your Coinbase credentials, then do a transfer from Coinbase->GDAX.  No fees.  Then place a limit order for BTC, if it fills then no fees.  Then transfer your C-Cex wallet, and place your buy order for BBP.  It's the cheapest way to do it, but does take some time.

Much obliged 616westwarmoth ...

[coinpimp321]

How to spot a pump and dump cryptocurrency

the following is not investment advice. purely for entertainment. not about biblepay

1. pick a coin name. this is fun!

2. hide yourself so you can operate under obscurity. anonymous domains, hosting, emails, twitter account.  in other words a very light google footprint

3. find a niche. create a novel feature or idea to generate interest and excitement.

4. fork a coin project, modify code base as much as is needed to set coin circulation rules, etc.

5. allow a huge amount of circulating coins to be mined, so they can be sold for very little per unit cost. this is critical. you want LOTS of your coins out there so people buy into many of them to give you a return. "make it up on volume"

6. get ahead of the miners by either premining it or having hashpower at the ready when the pools open up. remember if you dont have coins you cant sell coins.

7. run the first and only pool. be sure to give yourself some lead time so you are mining lots of coins. got to get those early block rewards!

8. since the token has no inherent value or userbase, create pyramid schemes of investment to create perceived value and generate investor greed. the coin must have mechanism for ‘whales’ to get involved . master nodes are an example since they promise coins kickback . but anything else can work

9. get on at least 1 exchange. CRITICAL. this turns your imaginary coin into real value (btc / fiat)

10. invent schemes to the coin that give perceived value so investors have a sense of long term plan. talk about a long term and many milestones to reach. mention HUGE gains so you can inflate the perceived value of the token. you must invent a scheme that requires a high level of investment so you can dump the coins. THINK BIG (plant that meme in the investor)

10.1 - make clear the coin is not an investment!  

11. introduce cheerleaders and ‘coin shills’ to talk about the coin. have a team of people to help you promote the coin, debate counter opinion, etc.

12. ignore external help or advise. cant risk any delays to the window of payday. act busy cause its a race to the dump

13. finally pay day arrives, dump your coins by the millions on the exchange so you can get your btc!

congratulations you have successfully created money out of thin air!

To continue from here:

14. clamp down on any criticism (attack criticizer, threaten bans, legal threats, etc) and continue to promise more development and returns to protect future investor interest

15. if you want to exit, sure why not. just announce a retirement, 'still overseeing and advising', but 'let the community steer it from here'. You got the huge amount from the floor level of the pyramid so you won!

16. take a break you earned it! now you have a warchest of capital and memories. so many memories

17. if you are up for it, do it all agian. this time have your processes automated and have money to hire help

Its a lot of work but it sure beats an honest day of work! ha! who needs integrity now days!

/s  

[jaapgvk]

How to spot a pump and dump cryptocurrency

the following is not investment advice. purely for entertainment. not about biblepay

1. pick a coin name. this is fun!

2. hide yourself so you can operate under obscurity. anonymous domains, hosting, emails, twitter account.  in other words a very light google footprint

etc.
etc.

I get the concept of due diligence and I think you made the point you wanted to make. Of course the crypto-world is ridden with coins that are purely for profit, but I don't think this is one of them. We're sponsoring a lot of orphans right now, and I never had the feeling Rob was someone who would take profit at the costs of those orphans losing their sponsorship (and hope).

I'm with this coin since the early days, I've read every post on this forum, and I personally have the feeling that Rob is a person with character and determination just going by the way he writes (and is consistent in what he writes). I he's a fraud, he's the best I've ever seen.

[znffal]

Has anyone done a ROI on the sanctuaries?
With the price going up to 1.5M I am trying to work out how much I can put towards this before it becomes unrealistic.
I will continue to mine BBP either way, just may abandon the idea of a santuary.

[sharpshot]

How to spot a pump and dump cryptocurrency

the following is not investment advice. purely for entertainment. not about biblepay

1. pick a coin name. this is fun!

2. hide yourself so you can operate under obscurity. anonymous domains, hosting, emails, twitter account.  in other words a very light google footprint

etc.
etc.

I get the concept of due diligence and I think you made the point you wanted to make. Of course the crypto-world is ridden with coins that are purely for profit, but I don't think this is one of them. We're sponsoring a lot of orphans right now, and I never had the feeling Rob was someone who would take profit at the costs of those orphans losing their sponsorship (and hope).

I'm with this coin since the early days, I've read every post on this forum, and I personally have the feeling that Rob is a person with character and determination just going by the way he writes (and is consistent in what he writes). I he's a fraud, he's the best I've ever seen.

I agree and if anyone wanted to make a pump and dump coin, I'm sure there would be much easier ways to do it.  Mr. "coinpimp" could just as easily be trying to create fud to lower the price and buy cheap.  That's not what I think, it's just one of the things people should be wary of.

[PhaseshiftUK]

Has anyone done a ROI on the sanctuaries?
With the price going up to 1.5M I am trying to work out how much I can put towards this before it becomes unrealistic.
I will continue to mine BBP either way, just may abandon the idea of a sanctuary.

I have a spreadsheet where I calculate this for MN coins.  Obviously the return depends on the number of transactions and number of masternodes (and any decrease below the 12,313 BBP block reward that I am calculating it on, in addition to any price changes).



Based on 1.5M BBP and assuming both enough transactions for blocks to be generated according to the 7 minute maximum and that the price remains the same as you pay for the BBP on the exchange (I'm ignoring mined coins used for Sanctuaries), I calculate:

At 10 MNs, an ROI of 59 days (~616% Annual ROI).
At 25 MNs, an ROI of 148 days (~246% Annual ROI).
At 50 MNs, an ROI of 296 days (~123% Annual ROI).
At 100 MNs, an ROI of 592 days (~61% Annual ROI).

Edit: Note that I was calculating this with Masternodes getting a 10% share of blocks.  It was pointed out that I hadn't mentioned that (and that I might be wrong on that percentage).

* Please note that this is not investment advice. *

[znffal]

Has anyone done a ROI on the sanctuaries?
With the price going up to 1.5M I am trying to work out how much I can put towards this before it becomes unrealistic.
I will continue to mine BBP either way, just may abandon the idea of a sanctuary.

I have a spreadsheet where I calculate this for MN coins.  Obviously the return depends on the number of transactions and number of masternodes (and any decrease below the 12,313 BBP block reward that I am calculating it on, in addition to any price changes).

Based on 1.5M BBP and assuming both enough transactions for blocks to be generated according to the 7 minute maximum and that the price remains the same as you pay for the BBP on the exchange (I'm ignoring mined coins used for Sanctuaries), I calculate:

At 10 MNs, an ROI of 59 days (~616% Annual ROI).
At 25 MNs, an ROI of 148 days (~246% Annual ROI).
At 50 MNs, an ROI of 296 days (~123% Annual ROI).
At 100 MNs, an ROI of 592 days (~61% Annual ROI).

Thanks for that! Yes I guess all models are dependent on their assumptions.
I wonder how many MNs we will have. I guess with the 1.5M figure, possibly not so many.

Thanks again for taking the time to answer

[ermintrude]

Interesting trading day
Volume today is above 2.13 BTC or >15,000.  Price hasn't moved much. The chart says it got up to 16 sat but I don't see it in the tape; just between 9-12

I wish I could see full trading history on c-cex:  https://c-cex.com/?p=bbp-btc
Id be interested to see what happened as well, but it looks like someone bought many millions of coins  

Data is quite clearly there in the trading history.. Starting at 2017-11-08 14:40:07.. Someone clearly market bought in several chunks.. 10, 11, 12, 13, 14, 15 & 16..
Relevant buys on paste bin
Some 15.87m BBP..

[okane818]

Interesting trading day
Volume today is above 2.13 BTC or >15,000.  Price hasn't moved much. The chart says it got up to 16 sat but I don't see it in the tape; just between 9-12

I wish I could see full trading history on c-cex:  https://c-cex.com/?p=bbp-btc
Id be interested to see what happened as well, but it looks like someone bought many millions of coins  

Data is quite clearly there in the trading history.. Starting at 2017-11-08 14:40:07.. Someone clearly market bought in several chunks.. 10, 11, 12, 13, 14, 15 & 16..
Relevant buys on paste bin

Yes mate, I saw that things too, I am running my biblepayqt 24/7 for almost from the beginning, but the price still on the horizontal level. and I am thinking now, I saw in the coinmarketcap there is no maxsupply reflected on the site, but only circulating supply. what happen?

[togoshigekata]

Tinkerers Anthem:
https://soundcloud.com/proofofbeats/encroachment

====

I think Slashdot.org has some smart people on it,
But look at the comments about Bitcoin:
https://yro.slashdot.org/story/17/11/08/1916236/nearly-a-third-of-millennials-say-theyd-rather-own-bitcoin-than-stocks
Id say 90%++ do not believe in Bitcoin, and these are technically inclined folk.

Vice President at my job laughed at me when I brought up investing in Bitcoin,
he has some background in Economics and has a Computer Science degree and is going to a top grad school.
He told me none of his smart friends are talking about cryptocurrencies and Im the only one he knows who is invested.

The personal finance subreddit (https://www.reddit.com/r/personalfinance/) deletes comments about investing in Bitcoin,
and even bans people who talk about it:

https://www.reddit.com/r/Bitcoin/comments/75yuoz/rpersonalfinance_when_you_tell_them_youve/
https://www.reddit.com/r/Bitcoin/comments/7a39ad/i_guess_rpersonalfinance_didnt_like_my_advice/
https://www.reddit.com/r/Bitcoin/comments/79i1oc/why_does_rpersonalfinance_get_so_upset_when_post/

====

Adoption Curve