BiblePay - New Coin Launch - Official Thread

[bible_pay]

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

Not really.  In 1023, we do an addl test to support the upcoming features, but its only a boolean, so I believe the hashps against prod should be the same.

I would increase the proclimit by a couple and just see if you realize the same hashps as before.

In the next version (Im calling it f7000, due out at block 7000), the hashps will be about 90% less, but it will be doing 2 biblehash rounds and only one x11, with txindex lookup in one biblehash (we are raising the bar and removing the x11 weight). 

[bible_pay]

Im looking into adding a feature to allow us to name our sanctuary.  Maybe people will name some of the 12 tribes of Israel.  Instant Payment sent through Judah.  LOL.

Regarding Westworths independent audit, Im for it, but I think it will be fruitless to pass one and be an ongoing org for a year with no frequent audits.  I was thinking, in our accountability domain, we could post the phone # and orgID of BiblePay and let people make random calls and verify the orphan is sponsored by us.  Then it will be a perpetual audit, forever.  On that note, I applied for a bible_pay org ID from compassion.  Its required for an org to write to children.  And it makes our children sponsored under the name of the Org.  Making it auditable.  But what happened was I applied for it one day before I sponsored 74 children, and they explained it takes up to 30 days to receive the number.  In the mail.  So, I currently sponsored these 74 under my name temporarily.  However, I did verify with them that I will be able to transfer these children to our org as soon as I receive the orgid.  So Ive been waiting for that to happen, and of course that precedes the ability to audit the org also.  Ill be updating the web site once that is done and people can have freedom to audit as they wish.

Regarding pulling in the VP of Finance and IT people at compassion, I love the idea of having them run the wallet and asking if they can accept our payments and auto-apply them.  The only issue I have with this is I feel its highly positive PR for us to have sponsored individual orphan IDs, of high quantity, with auditability by anyone.  What I am saying is if we have to transfer a monthly flat 'dump' of coins, and all we get is a Thank you, and lose all the orphan IDs in exchange for a blanket contribution, Id rather then do it the hard way.  What I would push for is the ability for someone at compassion to apply payments to our account using BBP for us once per month.  That would be the sweet outcome.

[616westwarmoth]

I'm glad to hear all of the above!

I'd be just slightly concerned about choosing names.  You might end up with something that is not in line with the character of the coin, and there are plenty of people out there that would think spending $x to do that out of humor or malice might be worth it.

As far as Compassion's IT goes, the other option would be to write up the articles of the "Biblepay Foundation", become a registered 501(c)(3) organization (if you're US based) and spend a small portion of the Orphan Fund to have a 3rd party as a trustee.  I'm sure a lawyer or accountant that was familiar with technology would be able to do it on a regular basis for a fairly low fee.  It'd be ideal to do this before the Sanctuaries hit as it might be hard to get a consensus among the voters to actually get it done.  In the end, the more on the Orphan Fund that can be done before Sanctuaries the better, it basically can set the road map for your vision of things before you release control.

On the subject of Sanctuaries, to help avoid a 51% attack, it might be worth considering all changes must be made by a successful vote of 51% of all eligible voters rather than all votes cast. This again would raise the bar for change and likely reduce incentive for massive DoS attacks or hacking by a rogue actor trying to take over the Fund.

[yeahman809]

Thanks for the awesome new coin with so much potential!  I've been reading this forum for the last 2 days, and I'm only through like 20 of the pages lol but it looks like you all have been working really really hard on this.  I had some issues yesterday, but it seems like connecting to the pool has been fixed. ( I was getting pool drop errors in the info #3 box, but the web portal showed me connected, albeit about 40% normal hash rate, i was still connected).  But sometime last night things seemed to fix themselves and have been working great since.  I also realized that I can use more threads than my processor has?  I'm not sure about all that, but my hash rate definitely improves, which I am okay with.  I set the gen proc to 24, and currently I am about to take spot # 1 on the leader board, watch out. (490KH/s)


14:01:42

getmininginfo


14:01:42

{
  "blocks": 4832,
  "currentblocksize": 1000,
  "currentblocktx": 0,
  "difficulty": 0.006372437139677988,
  "errors": "",
  "genproclimit": 24,
  "networkhashps": 109619.4936226918,
  "hashps": 490757.4390400441,
  "minerstarttime": "08-26-2017 17:47:41",
  "pooledtx": 0,
  "testnet": false,
  "chain": "main",
  "biblepay-generate": true,
  "poolinfo1": "B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; B9LeH2D3pxTHcssNhgBqseJekonk1q36w8; ",
  "poolinfo2": "RM_08-26-2017 17:59:46; RM_08-26-2017 18:01:23; RM_08-26-2017 18:00:01; RM_08-26-2017 18:01:23; RM_08-26-2017 18:01:08; ",
  "poolinfo3": "CFW 08-26-2017 17:59:45; CFW 08-26-2017 17:59:44; CFW 08-26-2017 17:59:59; CFW 08-26-2017 18:01:07; ",
  "miningpulse": 13125,
  "poolmining": true
}


Edit:   And boom...
er Name   Miner Name   Hashes Per Sec   Hashes Per Sec2   Shares   Reported
yeahman809   yeahmanM3   486431.46   470734.38   48   8/26/2017 1:26:30 PM
yamadaman   yamadaman1   479718.42   444110.36   37   8/26/2017 1:26:01 PM
Anonymous   Anonymous   424748.32   401415.13   33   8/26/2017 1:27:15 PM
Anonymous   Anonymous   412476.54   390136.96   39   8/26/2017 1:26:18 PM
Anonymous   Anonymous   403271.99   370296.32   29   8/26/2017 1:25:49 PM
Anonymous   Anonymous   390978.24   366267.71   34   8/26/2017 1:27:11 PM

[616westwarmoth]

That's a killer hash rate you're pulling.  If I could pull that high, I'd be VERY tempted to just mine solo with a machine.

If anyone has had issues with new workers on the pool not connecting, you might go to the pool, delete the workerid and then re-add it.  I had that occur and it fixed the issue so I'm guessing there was a hiccup that caused new workers to not get added correctly on the pool.

[Iuliu]

poolport=80
pool=http://pool.biblepay.org
workerid=Anonymous
gen=1
genproclimit=24

If put 24 at genproclimit i see that my cpu it is used just 50 % but if i put more than 24 the utilization increase and also sometime the hashrate... is there a logical thing? someone coul explain it?

gen is the threads? what value should i put there?

[616westwarmoth]

I just play around with the settings until they get unstable.  Genproclimit can be as low as 1 or high as 25.  I usually have my desktop at 2 or so if I'm trying to do other things concurrently and 12 or so if I'm at work or asleep.  How it relates to CPU threads, I'm unclear, but trial and error are the way to go for now for me.

[yeahman809]

That's a killer hash rate you're pulling.  If I could pull that high, I'd be VERY tempted to just mine solo with a machine.

If anyone has had issues with new workers on the pool not connecting, you might go to the pool, delete the workerid and then re-add it.  I had that occur and it fixed the issue so I'm guessing there was a hiccup that caused new workers to not get added correctly on the pool.

Its the Ryzen 1800x(OC 4.0ghz/ 1.35v), I've mined 11k coins in 36 hours, but that was before I got the increase in hash rate,(and the pool being funky yesterday), so new rate should be higher.  Idk, its tempting, but I like guarantee's and the pool is consistent and pays pretty well.  Plus you all have done so well with developing this pool, I have to stay =).

P.S  I've noticed the pool-site is super responsive today, it's nice!

[616westwarmoth]

That's a sweet chipset there.  AMD is really cranking out some impressive chips these days again.

[bible_pay]

Thanks for the awesome new coin with so much potential!  I've been reading this forum for the last 2 days, and I'm only through like 20 of the pages lol but it looks like you all have been working really really hard on this.  I had some issues yesterday, but it seems like connecting to the pool has been fixed. ( I was getting pool drop errors in the info #3 box, but the web portal showed me connected, albeit about 40% normal hash rate, i was still connected).  But sometime last night things seemed to fix themselves and have been working great since.  I also realized that I can use more threads than my processor has?  I'm not sure about all that, but my hash rate definitely improves, which I am okay with.  I set the gen proc to 24, and currently I am about to take spot # 1 on the leader board, watch out. (490KH/s)

  "networkhashps": 109619.4936226918,
  "hashps": 490757.4390400441,
  "minerstarttime": "08-26-2017 17:47:41",
  "pooledtx": 0,
  "testnet": false,
Anonymous   Anonymous   412476.54   390136.96   39   8/26/2017 1:26:18 PM
Anonymous   Anonymous   403271.99   370296.32   29   8/26/2017 1:25:49 PM
Anonymous   Anonymous   390978.24   366267.71   34   8/26/2017 1:27:11 PM

Yeah, the relationship is foggy because each mining thread does not consume 100% of the core- due to OS multitasking, etc.  So we just recommend to use more proc, just increase the proclimit higher and the OS will make more than one thread run per core.

Thats a killer hashrate.  What specs is the machine- how many cores, procs, desktop, how many power supplies and what watts does it pull?  Thanks!

[yeahman809]

Thanks for the awesome new coin with so much potential!  I've been reading this forum for the last 2 days, and I'm only through like 20 of the pages lol but it looks like you all have been working really really hard on this.  I had some issues yesterday, but it seems like connecting to the pool has been fixed. ( I was getting pool drop errors in the info #3 box, but the web portal showed me connected, albeit about 40% normal hash rate, i was still connected).  But sometime last night things seemed to fix themselves and have been working great since.  I also realized that I can use more threads than my processor has?  I'm not sure about all that, but my hash rate definitely improves, which I am okay with.  I set the gen proc to 24, and currently I am about to take spot # 1 on the leader board, watch out. (490KH/s)

  "networkhashps": 109619.4936226918,
  "hashps": 490757.4390400441,
  "minerstarttime": "08-26-2017 17:47:41",
  "pooledtx": 0,
  "testnet": false,
Anonymous   Anonymous   412476.54   390136.96   39   8/26/2017 1:26:18 PM
Anonymous   Anonymous   403271.99   370296.32   29   8/26/2017 1:25:49 PM
Anonymous   Anonymous   390978.24   366267.71   34   8/26/2017 1:27:11 PM

Yeah, the relationship is foggy because each mining thread does not consume 100% of the core- due to OS multitasking, etc.  So we just recommend to use more proc, just increase the proclimit higher and the OS will make more than one thread run per core.

Thats a killer hashrate.  What specs is the machine- how many cores, procs, desktop, how many power supplies and what watts does it pull?  Thanks!

So the machine is a custom gaming desktop I built.  I have a SINGLE Ryzen 1800x 8 core/16 thread OC to 4.0 ghz at 1.35v.  Power draw is around 125 watts from what I've read online, although I cannot personally get an accurate reading.  PSU is 850 watt corsair gold standard, I forget the model, but the only reason for this is the 2x RX 580 GPU I also run for gaming/mining other coins.  Considering the current exchange rate, and the obvious increase that is going to occur over the long run, this is a super investment no matter the power cost.  At my current rate I calculated about 7$ a day with a single CPU.  That's pretty sweet, and for a good cause too!

[gigabyted]

Hey i see that the code is getting ready for the TXs lookup algo at block 7000!

Nice job

[Seyar]

Ok so what is the trick with this coin.. It's like too cheap for what I see around here, and if something looks too good to be true then almost always it is. So where is the hidden thing that its actually far under a value that would represent the development and things behind this coin.

Not joking im serious, something just doesnt add up. It's like 15sat while I think at least 700-1000 would be more reasonably with this kind of thread, development and things behind the coin.. So things just don't add up for real.

[happy_merchant]

Ok so what is the trick with this coin.. It's like too cheap for what I see around here, and if something looks too good to be true then almost always it is. So where is the hidden thing that its actually far under a value that would represent the development and things behind this coin.

Not joking im serious, something just doesnt add up. It's like 15sat while I think at least 700-1000 would be more reasonably with this kind of thread, development and things behind the coin.. So things just don't add up for real.

The coin is still really new, there hasn't really been any marketing yet, and it's only listed on one exchange. The volume being traded is pretty low as well, seems like most people are accumulating and holding.

[Ginzink]

Ok so what is the trick with this coin.. It's like too cheap for what I see around here, and if something looks too good to be true then almost always it is. So where is the hidden thing that its actually far under a value that would represent the development and things behind this coin.

Not joking im serious, something just doesnt add up. It's like 15sat while I think at least 700-1000 would be more reasonably with this kind of thread, development and things behind the coin.. So things just don't add up for real.

With a volume of around 0,5btc you dont get much movement. C-cex isn't very big either. Bittrex could do wonders for the value (and then orphans). But the dev is in it for the long run, so he dont rush anything. A stable long term growth!

[inblue]

Ok so what is the trick with this coin.. It's like too cheap for what I see around here, and if something looks too good to be true then almost always it is. So where is the hidden thing that its actually far under a value that would represent the development and things behind this coin.

Not joking im serious, something just doesnt add up. It's like 15sat while I think at least 700-1000 would be more reasonably with this kind of thread, development and things behind the coin.. So things just don't add up for real.

To supplement happy_merchant's answer, I think that the supply of the coin is arguably pretty high. You can't just treat all altcoins the same regarding their price per one token, because for a lot of the altcoins the miner reward is like 250 every 1 minute, and for BBP it's almost 20.000 every 7 minutes. So if you take the price of the mining reward as a whole and compare it to other coins' mining rewards, I think one BiblePay reward is worth in BTC or USD way above average altcoins, even pretty profitable ones. If one BBP would be worth 1000 satoshi, one block reward would be worth around $850 now, which I can't imagine, at least not in the near future.

[...] seems like most people are accumulating and holding.

Why is then a whopping 120 BTC worth of BBP in the sell orders, compared to barely 1 BTC in the buy orders? A lot of the sell orders are for a lot higher amounts and that's what increases the total BTC amount, but still, there is a lot of BBP for sale (8M+). If someone believes that they can sell their coins at that price, doesn't that mean that they are actually holders, so why would they keep the coins on the exchange in the first place, especially for so long? The only reasonable thing I can think of is that they believe a short spike could happen so they don't want to miss out on selling at that moment, but that's kind of far fetched to keep a lot of coins on the exchange for months instead in your wallet. Also, by holding coins in the sell orders like that, they increase their supply on the exchange, which is bad for the price as the coins are not scarce at all.

[Victory33]

I'm very glad to see some non-greedy people with very high motivation to help orphans and bring good things. There's so much evil in the world, but it's possible to fight it, good luck dev!

[niknik1966]

And there is already a mailing list, who will help? Because to collect money for the fund, this is one thing, and to collect specific recipients is quite another. And how will the distribution be controlled?

[bible_pay]

https://twitter.com/VViljy/status/901756104216076288

Nice artwork!  Maybe you can be our twitter presence, that is if you want.  I was thinking eventually, our twitter admin would need to retweet release notices and any happenings we have, and possibly escalate issues users find that we dont know about back to slack.

[bible_pay]

So the machine is a custom gaming desktop I built.  I have a SINGLE Ryzen 1800x 8 core/16 thread OC to 4.0 ghz at 1.35v.  Power draw is around 125 watts from what I've read online, although I cannot personally get an accurate reading.  PSU is 850 watt corsair gold standard, I forget the model, but the only reason for this is the 2x RX 580 GPU I also run for gaming/mining other coins.  Considering the current exchange rate, and the obvious increase that is going to occur over the long run, this is a super investment no matter the power cost.  At my current rate I calculated about 7$ a day with a single CPU.  That's pretty sweet, and for a good cause too!

Thanks a lot for the specs.  That came out of left field.  As of a couple weeks ago, I was assuming the newer intels were 2* faster than the amds (because I have 6 two year old 6 core amds sitting around from a prior project) and they all hash at 87k, while my friends intels hash around 125k (while being 2 years newer), and then we had the xeon server guy hash at 350k on an old quad core xeon (unknown proc count though), causing me to order a couple xeon servers which are not racked yet.  So, basically, the brand new AMD ryzens, pulling about 200 watts, can hash at 450k, making them the fastest the leaderboard has seen. 

  Looks like we will need a wiki page to start logging all this by specific processor type.  I would really like to see a wattage column also (the intel i5 laptop can hash at 100k using a 20w total consumption from a solar panel etc). 

Yeah, we should set up wiki.biblepay.org.


On the bright side, with the algorithm tweak coming at block 7000 (with the f7000 feature) we will have to re-establish everything we know as the hashps will be lower for everyone, and the txid lookup may influence the result slightly differently over machines (due to disk lookups in the mix), although in general I believe everyone will drop an equal percentage overall (due to disk caching).