BiblePay - New Coin Launch - Official Thread

[bible_pay]

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

I wrote this simulation predicting the outcome of our Sanctuary ecosystem metric values, to give you all a better idea of what the ROI will be if you run a sanctuary, and to give us as a community a very good approximation to how many Sanctuaries will exist approximately one year after this Christmas:

http://pool.biblepay.org/docs/roi.htm

This simulation shows that neither the investment cost of the sanctuary nor the BBP market price affects the Node Count.  The only factor that changes the ecosystem is the participating node count itself.  That count is driven by the individuals average ROI appetite.

This means that regardless of the BTC Price, the BBP market price, the sanctuary escrow cost, we will end up with between 100 and 800 sanctuaries, due to the fact that the risk appetite of the individual sanctuary owner will either be : Yes, I will wait 12 months for my BiblePay ROI (giving us 100 sanctuaries), or Yes, I will wait 8 years for my BiblePay ROI (giving us 800 sanctuaries).  Note that even if our price was up 1000%, and sanctuaries costed $67,000 each, this would remain true (see simulation).  This means that the highest liklihood is a risk appetite of ~2 years, and a resulting sanctuary node count of 200.

Note that it is a fallacy to believe "whales" will not come in and pay top dollar for sanctuaries.  The capital markets are broad.  If the ROI is consistent, even if our sanctuary costed $275,000 each, this spreadsheet would remain true-- except it would take longer for the node count to rise, and would not be fair for the smallest investors.  Thats why I think $1200 will still be a good number to go with on Thanksgiving.

[1715380297]

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[1715380297]

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[1715380297]

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[coinpimp321]

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

I wrote this simulation predicting the outcome of our Sanctuary ecosystem metric values, to give you all a better idea of what the ROI will be if you run a sanctuary, and to give us as a community a very good approximation to how many Sanctuaries will exist approximately one year after this Christmas:

http://pool.biblepay.org/docs/roi.htm

This simulation shows that neither the investment cost of the sanctuary nor the BBP market price affects the Node Count.  The only factor that changes the ecosystem is the participating node count itself.  That count is driven by the individuals average ROI appetite.

This means that regardless of the BTC Price, the BBP market price, the sanctuary escrow cost, we will end up with between 100 and 800 sanctuaries, due to the fact that the risk appetite of the individual sanctuary owner will either be : Yes, I will wait 12 months for my BiblePay ROI (giving us 100 sanctuaries), or Yes, I will wait 8 years for my BiblePay ROI (giving us 800 sanctuaries).  Note that even if our price was up 1000%, and sanctuaries costed $67,000 each, this would remain true (see simulation).  This means that the highest liklihood is a risk appetite of ~2 years, and a resulting sanctuary node count of 200.

Note that it is a fallacy to believe "whales" will not come in and pay top dollar for sanctuaries.  The capital markets are broad.  If the ROI is consistent, even if our sanctuary costed $275,000 each, this spreadsheet would remain true-- except it would take longer for the node count to rise, and would not be fair for the smallest investors.  Thats why I think $1200 will still be a good number to go with on Thanksgiving.

8 year forecasts in the cryptomarket huh?  amazing crystal ball you have. see step 10 above

[coinpimp321]

Investor Prospectus?

Rob or anyone know of a something like an investor prospectus for this masternode being proposed for potential investors? You know something one can read over that that has risks involved, ROI, contact information, etc? If i were an investor then I could make a wiser investment decision if I understood exactly whats being proposed right?

I think i heard mention of '401k' type schemes. It sounds interesting but its very hard to discern whats going on without it all in one document signed by the organization. I just find statements here and there on this forum thread. Retirement accounts are people's nest eggs after all. Maybe a phone number to talk to someone?

Maybe I could find it on the biblepay.org website? or the accountability page at the pool? That way the public at large can find it and research its merits. I might even have a friend who can go in on it. But they are not going to read this entire thread and fish out the claims and risks right?

Or will this be an announcement with a biblepay or btc address and everyone is to send their money in? That sounds pretty sketchy to me.  

This may help get you started if such a thing doesnt exist yet.

https://www.prospectus.com/private-placement-memorandum-services-information/how-to-write-a-prospectus/

[Docbee]

And what is the problem this coin wil solve placing it on blockchain.

[616westwarmoth]

Investor Prospectus?

Rob or anyone know of a something like an investor prospectus for this masternode being proposed for potential investors? You know something one can read over that that has risks involved, ROI, contact information, etc? If i were an investor then I could make a wiser investment decision if I understood exactly whats being proposed right?

I think i heard mention of '401k' type schemes. It sounds interesting but its very hard to discern whats going on without it all in one document signed by the organization. I just find statements here and there on this forum thread. Retirement accounts are people's nest eggs after all. Maybe a phone number to talk to someone?

Maybe I could find it on the biblepay.org website? or the accountability page at the pool? That way the public at large can find it and research its merits. I might even have a friend who can go in on it. But they are not going to read this entire thread and fish out the claims and risks right?

Or will this be an announcement with a biblepay or btc address and everyone is to send their money in? That sounds pretty sketchy to me.  

This may help get you started if such a thing doesnt exist yet.

https://www.prospectus.com/private-placement-memorandum-services-information/how-to-write-a-prospectus/

An investor prospectus would have a very high bar, would need a review by an investment lawyer (very pricey) and might need oversight by the SEC.  One reason why ICO's are now all overseas (with I think one exception thus far), is an ICO is being handled like an IPO with oversight from the SEC.  While this coin is NOT AN ICO (sorry, lots of people miss that) and I mean no disrespect to the Dev or all those involved with it, this coin should not be seen as an investment.  

The road map does hope to see gains made in value, features added (like Debit Card and 401K integration) but seeing as how BTC is just now getting moving on an ETF, it's too early to really expect such a high bar from this or almost any coin short of the main four or five (BTC, ETH, XRP, maybe LTC, XMR, ZEC, NEO or NEM).  At the point where BBP is in the top whatever and actually able to reasonably look at integration with 401K or even Debit cards, then that is a far more realistic time to talk about prospectus.  Consider for a moment, that even XRP, which is backed by the financial industry does not have a prospectus.  So if a coin with a $8B valuation cannot do that, I would think it very unrealistic to expect a $170K coin to out do them.

[coinpimp321]

Investor Prospectus?

Rob or anyone know of a something like an investor prospectus for this masternode being proposed for potential investors? You know something one can read over that that has risks involved, ROI, contact information, etc? If i were an investor then I could make a wiser investment decision if I understood exactly whats being proposed right?

I think i heard mention of '401k' type schemes. It sounds interesting but its very hard to discern whats going on without it all in one document signed by the organization. I just find statements here and there on this forum thread. Retirement accounts are people's nest eggs after all. Maybe a phone number to talk to someone?

Maybe I could find it on the biblepay.org website? or the accountability page at the pool? That way the public at large can find it and research its merits. I might even have a friend who can go in on it. But they are not going to read this entire thread and fish out the claims and risks right?

Or will this be an announcement with a biblepay or btc address and everyone is to send their money in? That sounds pretty sketchy to me.  

This may help get you started if such a thing doesnt exist yet.

https://www.prospectus.com/private-placement-memorandum-services-information/how-to-write-a-prospectus/

An investor prospectus would have a very high bar, would need a review by an investment lawyer (very pricey) and might need oversight by the SEC.  One reason why ICO's are now all overseas (with I think one exception thus far), is an ICO is being handled like an IPO with oversight from the SEC.  While this coin is NOT AN ICO (sorry, lots of people miss that) and I mean no disrespect to the Dev or all those involved with it, this coin should not be seen as an investment.  

The road map does hope to see gains made in value, features added (like Debit Card and 401K integration) but seeing as how BTC is just now getting moving on an ETF, it's too early to really expect such a high bar from this or almost any coin short of the main four or five (BTC, ETH, XRP, maybe LTC, XMR, ZEC, NEO or NEM).  At the point where BBP is in the top whatever and actually able to reasonably look at integration with 401K or even Debit cards, then that is a far more realistic time to talk about prospectus.  Consider for a moment, that even XRP, which is backed by the financial industry does not have a prospectus.  So if a coin with a $8B valuation cannot do that, I would think it very unrealistic to expect a $170K coin to out do them.

Funny thing is that 'Rob' calls it an investment and mentions protecting investors in numerous posts

https://bitcointalk.org/index.php?topic=2042657.msg24191771#msg24191771

"I don't want to cause a division, and I welcome the community input.  What everyone has to understand is I have a responsibility to also protect the investor also, so things that make it to prod are hard to change."

I mean revisionism/double speak is always a defensive tactic but come on guys, the masternode is clearly an investment.

As for the other points saying that others are doing it so can we. I disagree. If you want to associate the project with the Bible and call it a currency for 'Christians' you are going to be held to a very high standard of integrity and transparency

You and 'Rob' share similar writing styles. Two accounts? Or maybe you are an ardent team member.
see Step 11 above

(oh and thanks, i will revise the list to include 'never ever pretend the coin is an investment". Rob did though so lessons learnt.

"He who has ears let him here... You will know them by their fruit"

[bible_pay]

Investor Prospectus?

Rob or anyone know of a something like an investor prospectus for this masternode being proposed for potential investors? You know something one can read over that that has risks involved, ROI, contact information, etc? If i were an investor then I could make a wiser investment decision if I understood exactly whats being proposed right?

I think i heard mention of '401k' type schemes. It sounds interesting but its very hard to discern whats going on without it all in one document signed by the organization. I just find statements here and there on this forum thread. Retirement accounts are people's nest eggs after all. Maybe a phone number to talk to someone?

Maybe I could find it on the biblepay.org website? or the accountability page at the pool? That way the public at large can find it and research its merits. I might even have a friend who can go in on it. But they are not going to read this entire thread and fish out the claims and risks right?

Or will this be an announcement with a biblepay or btc address and everyone is to send their money in? That sounds pretty sketchy to me.  

This may help get you started if such a thing doesnt exist yet.

https://www.prospectus.com/private-placement-memorandum-services-information/how-to-write-a-prospectus/

An investor prospectus would have a very high bar, would need a review by an investment lawyer (very pricey) and might need oversight by the SEC.  One reason why ICO's are now all overseas (with I think one exception thus far), is an ICO is being handled like an IPO with oversight from the SEC.  While this coin is NOT AN ICO (sorry, lots of people miss that) and I mean no disrespect to the Dev or all those involved with it, this coin should not be seen as an investment.  

The road map does hope to see gains made in value, features added (like Debit Card and 401K integration) but seeing as how BTC is just now getting moving on an ETF, it's too early to really expect such a high bar from this or almost any coin short of the main four or five (BTC, ETH, XRP, maybe LTC, XMR, ZEC, NEO or NEM).  At the point where BBP is in the top whatever and actually able to reasonably look at integration with 401K or even Debit cards, then that is a far more realistic time to talk about prospectus.  Consider for a moment, that even XRP, which is backed by the financial industry does not have a prospectus.  So if a coin with a $8B valuation cannot do that, I would think it very unrealistic to expect a $170K coin to out do them.

Funny thing is that 'Rob' calls it an investment and mentions protecting investors in numerous posts

https://bitcointalk.org/index.php?topic=2042657.msg24191771#msg24191771

"I don't want to cause a division, and I welcome the community input.  What everyone has to understand is I have a responsibility to also protect the investor also, so things that make it to prod are hard to change."

I mean revisionism/double speak is always a defensive tactic but come on guys, the masternode is clearly an investment.

As for the other points saying that others are doing it so can we. I disagree. If you want to associate the project with the Bible and call it a currency for 'Christians' you are going to be held to a very high standard of integrity and transparency

You and 'Rob' share similar writing styles. Two accounts? Or maybe you are an ardent team member.
see Step 11 above

(oh and thanks, i will revise the list to include 'never ever pretend the coin is an investment". Rob did though so lessons learnt.

"He who has ears let him here... You will know them by their fruit"

All, lets use our high group intelligence and not Feed the Troll. 

[coinpimp321]

Investor Prospectus?

Rob or anyone know of a something like an investor prospectus for this masternode being proposed for potential investors? You know something one can read over that that has risks involved, ROI, contact information, etc? If i were an investor then I could make a wiser investment decision if I understood exactly whats being proposed right?

I think i heard mention of '401k' type schemes. It sounds interesting but its very hard to discern whats going on without it all in one document signed by the organization. I just find statements here and there on this forum thread. Retirement accounts are people's nest eggs after all. Maybe a phone number to talk to someone?

Maybe I could find it on the biblepay.org website? or the accountability page at the pool? That way the public at large can find it and research its merits. I might even have a friend who can go in on it. But they are not going to read this entire thread and fish out the claims and risks right?

Or will this be an announcement with a biblepay or btc address and everyone is to send their money in? That sounds pretty sketchy to me.  

This may help get you started if such a thing doesnt exist yet.

https://www.prospectus.com/private-placement-memorandum-services-information/how-to-write-a-prospectus/

An investor prospectus would have a very high bar, would need a review by an investment lawyer (very pricey) and might need oversight by the SEC.  One reason why ICO's are now all overseas (with I think one exception thus far), is an ICO is being handled like an IPO with oversight from the SEC.  While this coin is NOT AN ICO (sorry, lots of people miss that) and I mean no disrespect to the Dev or all those involved with it, this coin should not be seen as an investment.  

The road map does hope to see gains made in value, features added (like Debit Card and 401K integration) but seeing as how BTC is just now getting moving on an ETF, it's too early to really expect such a high bar from this or almost any coin short of the main four or five (BTC, ETH, XRP, maybe LTC, XMR, ZEC, NEO or NEM).  At the point where BBP is in the top whatever and actually able to reasonably look at integration with 401K or even Debit cards, then that is a far more realistic time to talk about prospectus.  Consider for a moment, that even XRP, which is backed by the financial industry does not have a prospectus.  So if a coin with a $8B valuation cannot do that, I would think it very unrealistic to expect a $170K coin to out do them.

Funny thing is that 'Rob' calls it an investment and mentions protecting investors in numerous posts

https://bitcointalk.org/index.php?topic=2042657.msg24191771#msg24191771

"I don't want to cause a division, and I welcome the community input.  What everyone has to understand is I have a responsibility to also protect the investor also, so things that make it to prod are hard to change."

I mean revisionism/double speak is always a defensive tactic but come on guys, the masternode is clearly an investment.

As for the other points saying that others are doing it so can we. I disagree. If you want to associate the project with the Bible and call it a currency for 'Christians' you are going to be held to a very high standard of integrity and transparency

You and 'Rob' share similar writing styles. Two accounts? Or maybe you are an ardent team member.
see Step 11 above

(oh and thanks, i will revise the list to include 'never ever pretend the coin is an investment". Rob did though so lessons learnt.

"He who has ears let him here... You will know them by their fruit"

All, lets use our high group intelligence and not Feed the Troll.  

when you dont have an answer to an inquiry  , attack the questioner. ad hominem

We still need from you some kind of investor information page. if you legally dont want to be accountable to a 'prospectus' thats fine.

but post something up publically.

You are after all standing to raise at least over $150,000. maybe much much more.


You cant find the time to put together document that binds your words?

I tell you want Rob, i will pay you 100 biblepay for such a document. deal? i hear they will go up in value esp in Venezuela

Attacking me doesnt remove your accountability.

Truth Troll for the Bible - proud of it!

[bible_pay]

Great job guys, New all time high Difficulty:


15:00:52

getmininginfo


15:00:52

{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,
  "errors": "",
  "genproclimit": 7,
  "networkhashps": 1930309953694.515,
  "hashps": 8564.60937279001,
  "minerstarttime": "10-16-2017 15:47:51",
  "pooledtx": 0,
  "testnet": false,
  "chain": "main",
  "biblepay-generate": true,
  "poolinfo1": "B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; ",
  "poolinfo2": "RMC_11-09-2017 21:00:32; RMC_11-09-2017 20:57:12; RM_11-09-2017 20:57:40; RM_11-09-2017 20:59:50; RMC_11-09-2017 20:55:21; RM_11-09-2017 20:57:01; ",
  "poolinfo3": "CFW 11-09-2017 20:57:20; CFW 11-09-2017 20:57:11; CFW 11-09-2017 20:59:48; CFW 11-09-2017 20:55:20; ",
  "miningpulse": 546888,
  "poolmining": true
}

We must be getting more popular.  The external node connections are pegged.

[scyp10]

Dev when is Light-deliver coin mixing being implement?on a serious be aware.I am all for contributions and assisting others so I'll be viewing this, interesting task.

[bible_pay]

Dev when is Light-deliver coin mixing being implement?on a serious be aware.I am all for contributions and assisting others so I'll be viewing this, interesting task.

We have InstantSend and Coin Mixing set to be turned on at Christmas at the same time Sanctuaries go live.
Hey that brings up a point guys, can we please test these two features now in TestNet?  They should be available for you right now.

On a side note, colored coins are working in Alphanet (thats my private unit test network).  I can send retirement coins back and forth and trade with myself and my market maker node.  The code should be released in 2 days for testing.

[znffal]

Great job guys, New all time high Difficulty:


15:00:52

getmininginfo


15:00:52

{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,
  "errors": "",
  "genproclimit": 7,
  "networkhashps": 1930309953694.515,
  "hashps": 8564.60937279001,
  "minerstarttime": "10-16-2017 15:47:51",
  "pooledtx": 0,
  "testnet": false,
  "chain": "main",
  "biblepay-generate": true,
  "poolinfo1": "B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; B6jtJfhZzbqiNUXfoQ2LdHVjWVtrHSELMS; ",
  "poolinfo2": "RMC_11-09-2017 21:00:32; RMC_11-09-2017 20:57:12; RM_11-09-2017 20:57:40; RM_11-09-2017 20:59:50; RMC_11-09-2017 20:55:21; RM_11-09-2017 20:57:01; ",
  "poolinfo3": "CFW 11-09-2017 20:57:20; CFW 11-09-2017 20:57:11; CFW 11-09-2017 20:59:48; CFW 11-09-2017 20:55:20; ",
  "miningpulse": 546888,
  "poolmining": true
}

We must be getting more popular.  The external node connections are pegged.

Hi Rob, keep up the good work!

As a relative newbie, could you please explain to me what high difficulty means?
Am I correct in saying this means the block reward is smaller?

What other implications does it have?

Thanks

[bible_pay]

Great job guys, New all time high Difficulty:



{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,

}

We must be getting more popular.  The external node connections are pegged.

Hi Rob, keep up the good work!

As a relative newbie, could you please explain to me what high difficulty means?
Am I correct in saying this means the block reward is smaller?

What other implications does it have?

Thanks

In most of the cryptoworld the diff is a number measuring how high the bar is set to achieve the next (biblehash) solution.  The higher the bar, the higher the solution hash must be to exceed it, IE the more nodes that would be required to solve the upcoming block.  This is done to regulate the block timing to be 7 minutes for us.

We go one step further and also lower the block reward during high diff periods.  Our minimum block reward is 5k however, so it is now pegged at the minimum during this time period. 

(For the highly technical, note that in the bibleminer hashoutput, everything is actually reversed and during high diff the bar is *lowered* and a lower hash is required, but I wanted to keep the analogy simple above).

[coinpimp321]

This is horrific  

https://jesuscoin.network/

Its all a game of mockery and money scheming when it comes to Jesus and Crypto. sign of the times

[znffal]

Great job guys, New all time high Difficulty:



{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,

}

We must be getting more popular.  The external node connections are pegged.

Hi Rob, keep up the good work!

As a relative newbie, could you please explain to me what high difficulty means?
Am I correct in saying this means the block reward is smaller?

What other implications does it have?

Thanks

In most of the cryptoworld the diff is a number measuring how high the bar is set to achieve the next (biblehash) solution.  The higher the bar, the higher the solution hash must be to exceed it, IE the more nodes that would be required to solve the upcoming block.  This is done to regulate the block timing to be 7 minutes for us.

We go one step further and also lower the block reward during high diff periods.  Our minimum block reward is 5k however, so it is now pegged at the minimum during this time period. 

(For the highly technical, note that in the bibleminer hashoutput, everything is actually reversed and during high diff the bar is *lowered* and a lower hash is required, but I wanted to keep the analogy simple above).

Thanks Rob. So I guess that means that most blocks will be ~5000 reward from now on?
Thanks

[coinpimp321]

Rob,

Looking at the horrible JC coin, why didnt you decide to just make this an ERC-20 coin? Backed my ethereum would have made the liquidty/exchange side of things smoother

[bible_pay]

Great job guys, New all time high Difficulty:



{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,

}

We must be getting more popular.  The external node connections are pegged.

Hi Rob, keep up the good work!

As a relative newbie, could you please explain to me what high difficulty means?
Am I correct in saying this means the block reward is smaller?

What other implications does it have?

Thanks

In most of the cryptoworld the diff is a number measuring how high the bar is set to achieve the next (biblehash) solution.  The higher the bar, the higher the solution hash must be to exceed it, IE the more nodes that would be required to solve the upcoming block.  This is done to regulate the block timing to be 7 minutes for us.

We go one step further and also lower the block reward during high diff periods.  Our minimum block reward is 5k however, so it is now pegged at the minimum during this time period. 

(For the highly technical, note that in the bibleminer hashoutput, everything is actually reversed and during high diff the bar is *lowered* and a lower hash is required, but I wanted to keep the analogy simple above).

Thanks Rob. So I guess that means that most blocks will be ~5000 reward from now on?
Thanks

No the reward floats with the diff level.  There will be times of high diff and low subsidy and then times when the miners point hashpower away- then lower diff and high subsidy.  Also, f8000 coming at Christmas has a lower HPS hence a lower diff, so the reward might temporarily jump a little higher but I think it will be short lived as we are getting popular.

nSubsidyBase = (20000 / (pow((dDiff+1.0),2.0))) + 1;
 

[bible_pay]

Dev when is Light-deliver coin mixing being implement?on a serious be aware.I am all for contributions and assisting others so I'll be viewing this, interesting task.

We have InstantSend and Coin Mixing set to be turned on at Christmas at the same time Sanctuaries go live.
Hey that brings up a point guys, can we please test these two features now in TestNet?  They should be available for you right now.

On a side note, colored coins are working in Alphanet (thats my private unit test network).  I can send retirement coins back and forth and trade with myself and my market maker node.  The code should be released in 2 days for testing.

Could we have a few testers jump into testnet and also test f8000?  Since we are preventing the gains from running multiple instances in f8000, I think its important to get f8000 tested now up-front so we can avoid that at Christmas.  

http://forum.biblepay.org/index.php?topic=16.165

So while waiting for my colored coin patch to be checked in, please test f8000 and coin mixing and instant send.
There are a lot of sanctuaries that need rebooted in testnet also.

[znffal]

Great job guys, New all time high Difficulty:



{
  "blocks": 15991,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 42330.15079537166,

}

We must be getting more popular.  The external node connections are pegged.

Hi Rob, keep up the good work!

As a relative newbie, could you please explain to me what high difficulty means?
Am I correct in saying this means the block reward is smaller?

What other implications does it have?

Thanks

In most of the cryptoworld the diff is a number measuring how high the bar is set to achieve the next (biblehash) solution.  The higher the bar, the higher the solution hash must be to exceed it, IE the more nodes that would be required to solve the upcoming block.  This is done to regulate the block timing to be 7 minutes for us.

We go one step further and also lower the block reward during high diff periods.  Our minimum block reward is 5k however, so it is now pegged at the minimum during this time period. 

(For the highly technical, note that in the bibleminer hashoutput, everything is actually reversed and during high diff the bar is *lowered* and a lower hash is required, but I wanted to keep the analogy simple above).

Thanks Rob. So I guess that means that most blocks will be ~5000 reward from now on?
Thanks

No the reward floats with the diff level.  There will be times of high diff and low subsidy and then times when the miners point hashpower away- then lower diff and high subsidy.  Also, f8000 coming at Christmas has a lower HPS hence a lower diff, so the reward might temporarily jump a little higher but I think it will be short lived as we are getting popular.

nSubsidyBase = (20000 / (pow((dDiff+1.0),2.0))) + 1;
 

Ah I see. Thanks for explaining that, and for your patience with my simple questions!

[coinpimp321]

And what is the problem this coin wil solve placing it on blockchain.

None. If donating to orphans is the 'killer feature' of biblepay, you can recreate it with a branded Dash wallet. Because under the hood that is what powers biblepay.

 No need to even create your own coin, code base, master nodes, miner network or anything. Just use the same Dash blockchain, the same dash token, and add a send to orphan fund button in the software.

No need for a special 'biblepay' currency. not limited to 1 exchange. and a user base of 900+ miners who dont really use the token but just mine it to sell it. And you keep using Dash currency that is worth $300 not 0.00009. No specialized stores to buy amazon affiliate goods. Traded dash for btc at any major exchange and do what you want. and Dash continues its development with a huge developer base so the code base is more advanced and maintained and open to scrutiny

When you pay someone the software asks you if you want to donate a percentage to the charity of the month. Then it takes your balance, splits a payment to the intended address and the orphan address. Its exactly the same way it works today when you are in a grocery store and it asks you if you want to donate to the 'children's' fund before giving you your final tally.

Thats literally all it takes to implement a feature that donates to an orphan fund.