BiblePay - New Coin Launch - Official Thread

[bible_pay]

BiblePay doesn't need big exchanges right now. C-CEX is very good old exchange (and it's pretty hard to get listed there). I track the price and trading volume and it looks like these are very stable.

I agree; lets slow down and make a solid coin first.

We could still use a volunteer to write a mining guide PDF for the pool and solo mining.

Please volunteer here so we dont have anyone do double the work.

[togoshigekata]

https://www.reddit.com/r/BiblePay/comments/6umlqq/how_to_mine_biblepay_on_windows/

https://www.reddit.com/r/BiblePay/comments/6ummuj/how_to_mine_biblepay_on_linux/

These are guides I wrote on how to mine BiblePay on Windows and Linux, please use/take/expand them!, or let me know any feedback!

===

For less skilled computer users, it would be cool if there was some more UI functionality like:
Start Mining, Stop Mining
Set Number of Threads
Current CPU Usage of BiblePay Mining
Enable/Disable Pool, Set Pool Worker Name

I assume that most people on this forum could edit config files with ease, but for the non-techies this could help them get into mining successfully

[KGBx]

More people will know about C-Cex, more dump will happen... hopefully. I believe in this project and will mine & hold till winter for sure!

[616westwarmoth]

More people will know about C-Cex, more dump will happen... hopefully. I believe in this project and will mine & hold till winter for sure!

I'm sure as coin inflation stacks up (we're at 88M and adding 4M coins a day, will be at 1.5B at years end) the price is likely to initially go back down.  That's partially why I was concerned about sponsoring 74 children for a month instead of being more gradual about it, but we're where we are so we'll go from here.

The two things i feel are holding back the coin right now (aside from being a very young coin) are the pool interface is a bit unstable and can be hard to get into.  I would propose the pool take a 0.5% pool fee, the dev can utilize that for any reason, but hopefully he will put it towards making the pool more robust (no one will miss half a percent, and right now it's the only pool).  The second is the contributions have not yet been independently audited, and I think that would put a lot of trust into the project very very quickly.

One other thing that would be good would to express at least a range of what Sanctuaries are expected to cost.  The unknown is a dangerous thing to a new coin and just the general idea that they'll be at least "100K and no more than 10M" or whatever the actual realistic range is would give people a target to shoot for.

All things considered though, this project is moving quite nicely with a novel approach to algorithm and a great outlook on charity, with just a tad bit more it could really embolden the core supporters.

[m4tsby]

Used git fetch origin master to update .7 wallet.
did a make - all seemed well but still pulling  .7 qt
oh well, was going to setup pool mining anyway but keep getting -

17-08-24 02:16:13  ** Started 24.000000 BibleMiner threads. **
2017-08-24 02:16:13 init message: Done loading
2017-08-24 02:16:13 GUI: Platform customization: "other"
2017-08-24 02:16:14 GUI: PaymentServer::LoadRootCAs: Loaded  169  root certificates
2017-08-24 02:16:15 P2P peers available. Skipped DNS seeding.
2017-08-24 02:16:15 dnsseed thread exit
2017-08-24 02:16:51 socket recv error Connection reset by peer (104)
2017-08-24 02:20:06 socket recv error Connection reset by peer (104)
2017-08-24 02:22:07 socket recv error Connection reset by peer (104)

any ideas? thanks!

[gigabyted]

Anyone know why the wallet from home is running fine on the pool but from work the pool looks down, im not even able to browse to the pool.biblepay.org site.

Thanks

[Exavier]

I'll be looking to get into this coin. While not religious I lik ethe charity aspect. I'm curios how many coins will b needed to run a masternode once that goes active next year?

[gigabyted]

If you take the total supply into account, i wouldn't be surprised to see at least 1M BBP to run a masternode

[PewPewGoesTheDuck]

If you take the total supply into account, i wouldn't be surprised to see at least 1M BBP to run a masternode

Hopefully not. No way I'll mine that much between now and December. Sitting at around 270k at the moment and its just getting more difficult.

[togoshigekata]

If you take the total supply into account, i wouldn't be surprised to see at least 1M BBP to run a masternode

Hopefully not. No way I'll mine that much between now and December. Sitting at around 270k at the moment and its just getting more difficult.

You can buy BiblePay (BBP) pretty cheap on C-CEX! -----> https://c-cex.com/?p=bbp-btc

[enervey]

Anyone know why the wallet from home is running fine on the pool but from work the pool looks down, im not even able to browse to the pool.biblepay.org site.

Thanks

My best guess is that your corporate web filter or firewall is blocking access to the pool. When you try to browse to pool.biblepay.org in your web browser, what message do you receive?

[gigabyted]

Anyone know why the wallet from home is running fine on the pool but from work the pool looks down, im not even able to browse to the pool.biblepay.org site.

Thanks

My best guess is that your corporate web filter or firewall is blocking access to the pool. When you try to browse to pool.biblepay.org in your web browser, what message do you receive?

You might be right, i get no message at all, just a plain old blank page...

[gigabyted]

If you take the total supply into account, i wouldn't be surprised to see at least 1M BBP to run a masternode

Hopefully not. No way I'll mine that much between now and December. Sitting at around 270k at the moment and its just getting more difficult.

Well i don't expect to be able to run a masternode only from mined coin, i expect to need to invest myself beyond mining...

[gigabyted]

If im not mistaken there's 4M new coins every day and by 2018 there will be around 500M more.  So it would make sense to have at least 0.1% of all the coins to run a masternode. 

So maybe something between 500k and 1M coins.

This of course is all speculation

[gigabyted]

Which network hash is the right one, on the explorer it say 14mhs and in the wallet "networkhashps": 132,676,681.0419182.  132MHS!!!?

[inblue]

Which network hash is the right one, on the explorer it say 14mhs and in the wallet "networkhashps": 132,676,681.0419182.  132MHS!!!?

The net hash value from the recent wallet versions is closer to the real value. The explorer is running a previous version of the code and reports that value accordingly.

[616westwarmoth]

If im not mistaken there's 4M new coins every day and by 2018 there will be around 500M more.  So it would make sense to have at least 0.1% of all the coins to run a masternode. 

So maybe something between 500k and 1M coins.

This of course is all speculation

The actual expectation is just short of 1.5B coins by end of the year, 2.8B end of 2018, 9B end of 2025 and 14.54 by end of production in 2050 ish.

If you look at Linda, its a new high volume coin that is up to 8B already and a max supply of 50B, it requires 30M to make a Masternode.  And DASH is 1K with a current supply of 7M and max of 19M.  Right now DASH has just shy of 4700 MN, or nearly 2/3rd the supply whereas PIVX has about 1/3rd the supply locked in MN and Linda has about 1/6th the supply locked in MN.

With this coin, my opinion is you need to consider two things when setting the cost of a Sanctuary (Masternode). 

Since there is a charitable component to this coin that will be directed solely by the Sanctuaries you need a cost high enough to get people serious about it but low enough that you can have enough different users to avoid a 51% attack that could in theory direct the Orphan Fund to an improper purpose.  Basically, if Sanctuaries cost 25M BBP, there might only be one.  That person then could say, "The Orphan Fund goes to me".  Likewise if you have a Sanctuary cost of 50K BBP, there would be too many of them to be cost effect to host on servers and you'd end up with glorified PoS mining and little of the benefits of Masternodes.

Unless you end up with pools to buy nodes (which happens now with DASH), the other aspect becomes how much income they produce, which in 2018 BBP MN Sanctuaries will share approximately 130M BBP.

So taking all that into consideration, the Dev should consider total supply in the short term, first year income and 51% attack resistance.  If 1/3 the end of year supply ended up in Sanctuaries, that'd be 500M.  A cost of 1M to 2M would be between 250 and 500 Sanctuaries at 1/3 of the total supply.  They would earn about 20K-40K BBP per month in the first year.  20K/month at 10 Sats is at current rates about $9 a month so even at pretty low prices that would be sufficient to pay for full time hosting.

I've said I hope the cost is 500K-1M, I'd revise that to say a cost of 500K-2M is not unreasonable to me.

[muf18]

How much can pull FX 8320 4ghz? Or i5 6400? Does anybody have similar processors? I'm just curious about effiectivity of the algo implemented in the PoBH.

[616westwarmoth]

I haven't seen it seen it, but a guy I work with has the FX8370 (if I recall or it might be the FX8350) and he's getting six digit hashing.  Not sure what his settings are at but I thought he said he got 150 to 175KhS.  I'll try and ask him again and find out.

[muf18]

And network already has 132MH/s :O.
It means it has a power of about ~880 FX 8350? 132:0.15 =880, lol it's not a little too much for a coin which is around a few satoshis? I dont know what is is reward for a block, but still it's huge hashrate on the network.

Ok I readed that reward is huge. 20000 per block, nice, with today price it's nice and if it will go up it would be huge...