BiblePay - New Coin Launch - Official Thread

[coinpimp321]

Yea, its only a matter of time before these and dudes with vast resources enter. Its natural.
I watched it happen with Verium.

https://[Suspicious link removed]/images/o1phXg

wow. now thats a rig!

[slovakia]

m4tsby yes....i hope that all miners come on our coin ... i hope that our coin will be crashed by GPU ....

this things raise price of all coins 

[znffal]

Rob, I seem to be having this issue too. Not sure if it was something that changed or something wrong on my end.
Can't seem to get it back up though.

 I didnt know the pool was down.  Maybe its the cloudflare change.  Checking now...

Yeah, it was cloudflares SSL.  I disabled SSL and the pool came back.  We will buy a normal SSL cert next. 
Remember, pool2.biblepay.org was actually up during the outage so that is another backup option.

Thanks Rob,

I am still having problems getting on the pool again.

Tried reindexing using

biblepayd -reindex

but it seems to run and run and not end. Is there anything else I should  try?

Thanks

[bible_pay]

Also, what will the total supply be in the end?

http://wiki.biblepay.org/Emission_Schedule

Approximately 5 Billion Coins in about 40 years.

As far as Masternodes (Sanctuaries) go, it's still up in the air, but the number talked about recently was 1.1 Million.  There is also discussion of a concept of a Super-Masternode (Cathedral) which I'm trying to write a short white-paper on.

why are there so many coins vs like bitcoin?

Why we aim for a large total coinbase circulation:
- This allows us to emit high volume in the beginning and be Very deflationary (we are 19.5% deflationary per year) and still have relatively high rewards after 5 years.  It isnt until the tail end (2040 or so) when we start dealing with low numbers.
- When we become more popular, the coins are more affordable per unit for the average blue collar person.  (The same reason AAPL reverse split), to make the stock more popular. 
- People tend to lose low value digital wallets.  The average is about 20% of digital minted coins are "lost".  This is due to lost files, lost hard drives, upgrades, all that.  That gives us a propensity to be worth more, if you keep your wallet.
- A more rewarding total investment cycle.  Im hoping we will have some investors see 3-4 zeroes of appreciation in the price over 10 years.
- More flexibility for us.

[bible_pay]

Thanks Rob,

I am still having problems getting on the pool again.

Tried reindexing using

biblepayd -reindex

but it seems to run and run and not end. Is there anything else I should  try?

Thanks

Sounds like is not a pool problem though if you are reindexing, are you reindexing but actually receiving miner errors in getmininginfo?  (Because I see the leaderboard is full so I know the pool is up).

Since the reindex is not finishing, try to delete the chainstate folders, the blocks folder, and just resync?
You can do a "telnet pool.biblepay.org 80" from the command line to ensure you can hit the pool.

Let me know why you think its the pool- also you can try commenting out the "pool" setting in your config (by putting a pound in front of it) and try solo mining, to isolate the problem?

[bible_pay]

Also, what will the total supply be in the end?

http://wiki.biblepay.org/Emission_Schedule

Approximately 5 Billion Coins in about 40 years.

As far as Masternodes (Sanctuaries) go, it's still up in the air, but the number talked about recently was 1.1 Million.  There is also discussion of a concept of a Super-Masternode (Cathedral) which I'm trying to write a short white-paper on.

Curious, why so high? For example Dash has a total supply of around 20 million dash, and one masternode is 1000. With the same ratios you should have around 250 000 for one sanctuary.

Ive heard dev say between 500,000 and 1,100,000 BBP for masternode/sanctuary,
Ive also heard that he wants cost to to be about $500 for one by Christmas.

So I think in general, its all still very much up in the air and we still have time to discuss/persuade,
But Id collect as many as you can to be ready!

Didnt mean to mislead anyone on this.  I was waiting to get a really good feel for our average coin value on c-cex.  I still feel the value of the investment should be closer to $1,200 on Thanksgiving.  That will most likely give us about 500 masternodes over the long term (and we dont have a huge full-external node problem since we are CPU mined so thats nice). 

So on Thanksgiving, Ill run the numbers and finalize it and we will all have one full month to buy the remainder and go live with Sanctuaries!

Its probably going to be closer to 1.5 million coins per sanctuary and we will not have Temples.

[znffal]

Thanks Rob,

I am still having problems getting on the pool again.

Tried reindexing using

biblepayd -reindex

but it seems to run and run and not end. Is there anything else I should  try?

Thanks

Sounds like is not a pool problem though if you are reindexing, are you reindexing but actually receiving miner errors in getmininginfo?  (Because I see the leaderboard is full so I know the pool is up).

Since the reindex is not finishing, try to delete the chainstate folders, the blocks folder, and just resync?
You can do a "telnet pool.biblepay.org 80" from the command line to ensure you can hit the pool.

Let me know why you think its the pool- also you can try commenting out the "pool" setting in your config (by putting a pound in front of it) and try solo mining, to isolate the problem?

Hi Rob, it was automatically reverting to solo mining.

Actually I apologise, I didn't read your first comment correctly.
I changed pools to

pool2.biblepay.org

and that fixed everything

Thanks!

[bible_pay]

Thanks

Sounds like is not a pool problem though if you are reindexing, are you reindexing but actually receiving miner errors in getmininginfo?  (Because I see the leaderboard is full so I know the pool is up).

Since the reindex is not finishing, try to delete the chainstate folders, the blocks folder, and just resync?
You can do a "telnet pool.biblepay.org 80" from the command line to ensure you can hit the pool.

Let me know why you think its the pool- also you can try commenting out the "pool" setting in your config (by putting a pound in front of it) and try solo mining, to isolate the problem?

Hi Rob, it was automatically reverting to solo mining.

Actually I apologise, I didn't read your first comment correctly.
I changed pools to

pool2.biblepay.org

and that fixed everything

Thanks!

I was checking things about an hour ago, and somehow our cloudflare SSL setting spontaneously changed back.
Anyway, its working again now.

Ill look into a different flavor of SSL over the next few days.

Rob

[bible_pay]

All-

CoinExchange.IO declined our offer to list for 500,000 BBP down and the balance of the 2BTC over 6 months:


Hi biblepay,

Thank you for your interest but we respectfully decline your application to list on CoinExchange.io at this time.

All the best with your coin.

Sincerely,

CoinExchange.io Support Team


=-=-=-=-=-=

I sent them a thank you reply explaining how you cannot serve both God and Mammon.

Lets dust ourselves off and keep searching for another exchange. 

[aikida3k]

What did Jesus say and do to the money changers at the Temple? He literally wipped their *sses! Its the ONLY account in the Gospel of Jesus losing his mind!

Jesus Cleanses the Temple

…14 In the temple courts He found men selling cattle, sheep, and doves, and money changers seated at their tables.

15 So He made a whip out of cords and drove all from the temple courts, both sheep and cattle. He poured out the coins of the money changers and overturned their tables.

16 To those selling doves He said, “Get these out of here! How dare you turn My Father’s house into a marketplace!”



https://www.youtube.com/watch?v=boNIL1owRAI


i am available to offer my time for development to cleanse the moneychangers from the sanctuaries

I have a question for everyone: Do you think presenting this coin to a church audience would violate this scripture, or any scripture?  For instance, Catholic Mass has collections for operations and then a second collection for a cause.  I have also been to churches which do fundraising in the foyer of the church, or sales of items after church inside the church.  Do you think it would be against scripture to do PR for this coin around a church congregation? Just looking for everyone's input on this.

[aikida3k]

m4tsby yes....i hope that all miners come on our coin ... i hope that our coin will be crashed by GPU ....

this things raise price of all coins 

The drawback I see with this is the possibility of bot nets mining this coin and keeping a lid on appreciation.  They would mine it using hacked computers in order to exchange the BBP for BTC.  Is there any evidence of this occurring?  To combat it I would think you would need to require all pools to be registered.  Accounts with disparate IPs would be suspect for botnets, but I suppose that could impair some cloud miners.  People mining with their own rigs should be on the same subnet. 

[616westwarmoth]

Yea, its only a matter of time before these and dudes with vast resources enter. Its natural.
I watched it happen with Verium.

https://goo.gl/images/o1phXg

Looking at that let me tell you my experience.   I crunched the numbers and found the sweet spot to be Dell T3500 with Xeon X5650 processors.  Ordered a few off eBay for less than $200/each.  While I don't have one of those XU4's I doubt they'd have the same punch per dollar as the T3500 (I compared the Monero hashrate of the i7 listed in the article with my X5650 to determine they were in broad stokes pretty equal and the XU4 was pulling about 1/9th the rate of the i7 at a cost of $50) .  So I deployed several in my home in addition to my normal PC.  When I bought them, they'd pull close to 2000 coins a day on average, now they average about 400 coins a day.  Right now that's about 28 cents per day in BBP.  They run 170 watts, so I am paying 44 cents a day in power per box.  I would suspect most people mining are currently making little or even losing money unless they have very cheap power and that's not including amortizing hardware costs.  But most miners are likely mining for the long haul.  So they accept it might cost them a small premium to mine, but its easier to mine that buy in small quantities.  And there is the hope that the coin will be successful and rise in value.  But the nice thing about Biblepay is as long as it is GPU resistant, it's got a bright future if it can make it through these last few road blocks.  So as the coin rises in price, more miners will enter, the difficulty will increase and I'll probably drop to 200 coins a day but still be bringing in 30 to 40 cents at that new price.

[616westwarmoth]

m4tsby yes....i hope that all miners come on our coin ... i hope that our coin will be crashed by GPU ....

this things raise price of all coins 

The drawback I see with this is the possibility of bot nets mining this coin and keeping a lid on appreciation.  They would mine it using hacked computers in order to exchange the BBP for BTC.  Is there any evidence of this occurring?  To combat it I would think you would need to require all pools to be registered.  Accounts with disparate IPs would be suspect for botnets, but I suppose that could impair some cloud miners.  People mining with their own rigs should be on the same subnet. 

I'd wager a botnet would mine solo, it would be very hard to detect and harder yet to combat.  You could do it through the pool but the hope would be a successful coin would warrant many pools, and that would become unwieldy to manage.

[aikida3k]

I was thinking the botnet would be its own pool to have a greater aggregate hashing rate.  On old/low end hardware solo mining is slow and uptime is not as reliable.  It would be evident, I would think, if the difference of the total daily effusion (minting) varied greatly from the total minted coins from each of the registered pools.  Solo miners aren't necessarily minting coins every day.  Admittedly I still have a lot to learn.

[coinpimp321]

Also, what will the total supply be in the end?

http://wiki.biblepay.org/Emission_Schedule

Approximately 5 Billion Coins in about 40 years.

As far as Masternodes (Sanctuaries) go, it's still up in the air, but the number talked about recently was 1.1 Million.  There is also discussion of a concept of a Super-Masternode (Cathedral) which I'm trying to write a short white-paper on.

why are there so many coins vs like bitcoin?

Why we aim for a large total coinbase circulation:
- This allows us to emit high volume in the beginning and be Very deflationary (we are 19.5% deflationary per year) and still have relatively high rewards after 5 years.  It isnt until the tail end (2040 or so) when we start dealing with low numbers.
- When we become more popular, the coins are more affordable per unit for the average blue collar person.  (The same reason AAPL reverse split), to make the stock more popular. 
- People tend to lose low value digital wallets.  The average is about 20% of digital minted coins are "lost".  This is due to lost files, lost hard drives, upgrades, all that.  That gives us a propensity to be worth more, if you keep your wallet.
- A more rewarding total investment cycle.  Im hoping we will have some investors see 3-4 zeroes of appreciation in the price over 10 years.
- More flexibility for us.

i like that you have a long term view. it keeps my hopes up that this is not yet anothe pump and dump scheme found in so many alts/icos.

[sharpshot]

All-

CoinExchange.IO declined our offer to list for 500,000 BBP down and the balance of the 2BTC over 6 months:


Hi biblepay,

Thank you for your interest but we respectfully decline your application to list on CoinExchange.io at this time.

All the best with your coin.

Sincerely,

CoinExchange.io Support Team


=-=-=-=-=-=

I sent them a thank you reply explaining how you cannot serve both God and Mammon.

Lets dust ourselves off and keep searching for another exchange. 

I find it strange that exchanges want to charge when they should make lots of money from the fee every time people buy and sell a coin.  Did you try this relatively new exchange? I don't know if they will be more keen to list coins?  https://www.kucoin.com

What about atomic swaps?  This is a good read, hopefully we wont need the exchanges as much as they need us soon https://cryptoinsider.21mil.com/atomic-swaps-decentralized-exchanges-and-a-look-into-altcoin-io/

[bible_pay]

I was thinking the botnet would be its own pool to have a greater aggregate hashing rate.  On old/low end hardware solo mining is slow and uptime is not as reliable.  It would be evident, I would think, if the difference of the total daily effusion (minting) varied greatly from the total minted coins from each of the registered pools.  Solo miners aren't necessarily minting coins every day.  Admittedly I still have a lot to learn.

Although I doubt we have a botnet attached (because they would have to go through the trouble to port the full node into the botnet) I dont see that botnet hurting us either - even if it were running in the background right now, the owner would be forced to sell the coins on ccex and it would just drop the market.

The NYC School IT administrator installed bitcoin on hundreds of school machines and ran it as a botnet- until getting busted.  I think this sort of activity is sort of a mosquito on our back in total.

[bible_pay]

What did Jesus say and do to the money changers at the Temple? He literally wipped their *sses! Its the ONLY account in the Gospel of Jesus losing his mind!

Jesus Cleanses the Temple

…14 In the temple courts He found men selling cattle, sheep, and doves, and money changers seated at their tables.

15 So He made a whip out of cords and drove all from the temple courts, both sheep and cattle. He poured out the coins of the money changers and overturned their tables.

16 To those selling doves He said, “Get these out of here! How dare you turn My Father’s house into a marketplace!”
https://www.youtube.com/watch?v=boNIL1owRAI
i am available to offer my time for development to cleanse the moneychangers from the sanctuaries

I have a question for everyone: Do you think presenting this coin to a church audience would violate this scripture, or any scripture?  For instance, Catholic Mass has collections for operations and then a second collection for a cause.  I have also been to churches which do fundraising in the foyer of the church, or sales of items after church inside the church.  Do you think it would be against scripture to do PR for this coin around a church congregation? Just looking for everyone's input on this.

Jesus cleanses the Temple is a good topic.  First of all, I feel the greatest sin in this case is disregarding something that is Holy, The Temple, and conducting unholy business in his house.  To Jesus, I bet it feels like they misused the temple as a gathering place, reaped free advertising benefits (because those in the town know where to go to trade), yelled out bids for things (reducing the use of the temple to something unholy), and in general took his Temples dedication in vain. 

Yes, I do think we should take this seriously, and create a document that puts up walls in BiblePay to keep what is holy holy, to show respect for Gods Kingdom.  We should ensure we pass the litmus test - and I believe we do otherwise I would have given up earlier - that we provide a currency for Christians to exchange value while biblically tithing 10% of the top to the orphans.  We dont have any intention of doing unholy things with it, or setting up unholy practices.

The small part of this, the question about conducting business inside a church, I think the answer is the applicaton of biblepay during church hours can be promoted as : educational materials (buying bibles), extending our community to more Christians, using it as a currency to help others in need in the church (IE the one who cant pay their rent maybe receives it in biblepay), and of course our core function: helping orphans, by extending our community those that pick it up might invest a sliver of their retirement account in biblepay, thereby helping orphans now, with the expectation that in 10 years the retirement account can be withdrawn and help themselves.

  If we create a pamphlet with our Dos and Donts that keep us holy, and we gave that to the priest, then he/she would realize this is intended to be done off hours, not during church, etc.

[m4tsby]

Yea, its only a matter of time before these and dudes with vast resources enter. Its natural.
I watched it happen with Verium.

https://goo.gl/images/o1phXg

Looking at that let me tell you my experience.   I crunched the numbers and found the sweet spot to be Dell T3500 with Xeon X5650 processors.  Ordered a few off eBay for less than $200/each.  While I don't have one of those XU4's I doubt they'd have the same punch per dollar as the T3500 (I compared the Monero hashrate of the i7 listed in the article with my X5650 to determine they were in broad stokes pretty equal and the XU4 was pulling about 1/9th the rate of the i7 at a cost of $50) .  So I deployed several in my home in addition to my normal PC.  When I bought them, they'd pull close to 2000 coins a day on average, now they average about 400 coins a day.  Right now that's about 28 cents per day in BBP.  They run 170 watts, so I am paying 44 cents a day in power per box.  I would suspect most people mining are currently making little or even losing money unless they have very cheap power and that's not including amortizing hardware costs.  But most miners are likely mining for the long haul.  So they accept it might cost them a small premium to mine, but its easier to mine that buy in small quantities.  And there is the hope that the coin will be successful and rise in value.  But the nice thing about Biblepay is as long as it is GPU resistant, it's got a bright future if it can make it through these last few road blocks.  So as the coin rises in price, more miners will enter, the difficulty will increase and I'll probably drop to 200 coins a day but still be bringing in 30 to 40 cents at that new price.

Agree to that point. My single Opteron workstation is doing about 1500 coins every 24 hours, but its pricey to run, and loud. I hope to move it to another room and make it the MN box.

MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   65.8995   2837.8425   11/6/2017 22:21
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   28.1077   2771.943   11/6/2017 19:25
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   64.4656   2743.8353   11/6/2017 18:55
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   43.8907   2679.3697   11/6/2017 18:49
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   57.4946   2635.479   11/6/2017 18:10
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   52.3971   2577.9844   11/6/2017 18:05
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   57.6585   2525.5873   11/6/2017 17:54
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   52.2787   2467.9288   11/6/2017 17:40
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   44.8696   2415.6501   11/6/2017 16:33
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   55.5686   2370.7805   11/6/2017 14:46
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   39.703   2315.2119   11/6/2017 13:40
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   53.8825   2275.5089   11/6/2017 12:55
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   44.4369   2221.6264   11/6/2017 12:06
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   53.8136   2177.1895   11/6/2017 10:28
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   44.4592   2123.3759   11/6/2017 10:20
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   59.5749   2078.9167   11/6/2017 9:56
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   41.6118   2019.3418   11/6/2017 9:19
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   34.3246   11777.7345   11/6/2017 7:44
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   60.4998   11743.4099   11/6/2017 6:23
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   62.5159   11682.9101   11/6/2017 6:20
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   37.7808   11620.3942   11/6/2017 6:10
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   70.6337   11582.6134   11/6/2017 5:22
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   79.1136   11511.9797   11/6/2017 5:18
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   40.1404   11432.8661   11/6/2017 3:55
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   63.5976   11392.7257   11/6/2017 3:08
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   51.2663   11329.1281   11/6/2017 1:20
MINING_CREDIT   3A10D96A-AC20-4133-826E-99B27DCBD8A1   78.767      
      1438.7522      

[coinpimp321]

Yea, its only a matter of time before these and dudes with vast resources enter. Its natural.
I watched it happen with Verium.

https://[Suspicious link removed]/images/o1phXg

Looking at that let me tell you my experience.   I crunched the numbers and found the sweet spot to be Dell T3500 with Xeon X5650 processors.  Ordered a few off eBay for less than $200/each.  While I don't have one of those XU4's I doubt they'd have the same punch per dollar as the T3500 (I compared the Monero hashrate of the i7 listed in the article with my X5650 to determine they were in broad stokes pretty equal and the XU4 was pulling about 1/9th the rate of the i7 at a cost of $50) .  So I deployed several in my home in addition to my normal PC.  When I bought them, they'd pull close to 2000 coins a day on average, now they average about 400 coins a day.  Right now that's about 28 cents per day in BBP.  They run 170 watts, so I am paying 44 cents a day in power per box.  I would suspect most people mining are currently making little or even losing money unless they have very cheap power and that's not including amortizing hardware costs.  But most miners are likely mining for the long haul.  So they accept it might cost them a small premium to mine, but its easier to mine that buy in small quantities.  And there is the hope that the coin will be successful and rise in value.  But the nice thing about Biblepay is as long as it is GPU resistant, it's got a bright future if it can make it through these last few road blocks.  So as the coin rises in price, more miners will enter, the difficulty will increase and I'll probably drop to 200 coins a day but still be bringing in 30 to 40 cents at that new price.

Agree to that point. My single Opteron workstation is doing about 1500 coins every 24 hours, but its pricey to run, and loud. I hope to move it to another room and make it the MN box.

wow. thats a lot!