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Author Topic: BiblePay - New Coin Launch - Official Thread  (Read 19834 times)
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slovakia
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November 29, 2017, 05:01:11 PM
 #381

togoshigekata you got bug in your screen..... now is market cap BTC over 186 mld $
bible_pay added BBP to Binance?

helping orphans by helping biblepay coin CPU mine
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adrianbits
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November 29, 2017, 09:59:50 PM
 #382

All Money
https://i.imgur.com/6IphL1q.png

Moon Math
http://www.bitcoinmoonmath.com/

===

1 Bitcoin is out of most peoples reach now, theres been talk on reddit past few months of using smaller unit:
mBTC    (0.001 BTC)  [millibits]
bits       (0.000001 BTC)
satoshis (0.00000001 BTC)

I remember reading that Bitcoin is infinitley divisible
https://bitcoin.stackexchange.com/questions/19661/how-is-bitcoin-infinitely-divisible
"additional decimal places can be added with consensus of the network"



Am I the only one worried this is going to be very bad news for the local economy?
Imagine (not even imagine now!) everyone is suddenly much richer because they held a few bitcoins.
Dont you think they would quit their jobs or buy up everything around them?
It will lead to an inflation in local currencies as storekeepers raise their prices to keep up with this new money flooding in.

That might sound great for you if you have bitcoins. But what about those that dont. Do you think they will be content to learn they can no longer buy basic needs while their neighbors are living it up? It can only mean social unrest if we stretch the scenario.

And let us stretch out a bit more. What will gov response be to this inequality and inflation? Hand outs? price controls? trade wars?

There are two sides to the moon after all...the bright, and the very dark...

Am I wrong?

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November 29, 2017, 10:10:52 PM
 #383

Am I the only one who thinks there is to many coins???

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
jos nije sajt spreman kliknite kasnije
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slovakia
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November 29, 2017, 10:14:23 PM
 #384

adrianbits 1 question for you=didnt exist wars because of money,faith....... 85% of world living in penury ....

nexz question pls

2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy

helping orphans by helping biblepay coin CPU mine
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November 29, 2017, 10:18:03 PM
 #385

adrianbits 1 question for you=didnt exist wars because of money,faith....... 85% of world living in penury ....

nexz question pls

2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy

Im sorry i did not understand your response. but I am interested in it if you can type it again with other words!
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November 29, 2017, 10:31:03 PM
 #386

Am I the only one who thinks there is to many coins???

Yes it is too many. Not sure why this was done
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November 29, 2017, 10:36:02 PM
 #387

Am I the only one who thinks there is to many coins???

Yes it is too many. Not sure why this was done

I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was
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November 29, 2017, 10:47:21 PM
 #388

Am I the only one who thinks there is to many coins???

Yes it is too many. Not sure why this was done

I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was

Perhaps you need to see the bigger picture. A lot of coins means manipulation is possible by the top hashers. And only they get the $1000. If there are less coins that would not be possible correct?

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November 29, 2017, 10:52:23 PM
 #389

Am I the only one who thinks there is to many coins???

Yes it is too many. Not sure why this was done

I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was

Perhaps you need to see the bigger picture. A lot of coins means manipulation is possible by the top hashers. And only they get the $1000. If there are less coins that would not be possible correct?



I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?
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November 29, 2017, 11:22:22 PM
 #390


I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?

Okay i will try to be more clear.

1. 1,250,000 biblepay is about $1000 (i havent checked prices lately but it was $0.0008)
2. who can mine 1 million coins and how long would it take?
3. looking at the leaderboard or the block explorer we see people getting rewards of 10,000+ every half hour it seems.
4. so only top miners can hope to make $1000 in a reasonable timeline

compare this to the 'normal miner' (1 cpu at home maybe another at work)
1. maybe they mine 3-500 a day? so 15,000 a month?
2. 7 months to reach 1.25 million.  ($1000)

So you can see the inequality right there. correct?

As for could this happen with any other coin. No because of the volume of coins compared to biblepay. A low volume coin would not allow a miner to accumulate millions of coins very fast. Which means the coin is not attractive relative to other investment opportunities with their CPU powers.

I hope that explains my position a bit better. Maybe my analysis is wrong but that is what I can assess with the information I have seen.

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November 29, 2017, 11:32:23 PM
 #391


I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?

Okay i will try to be more clear.

1. 1,250,000 biblepay is about $1000 (i havent checked prices lately but it was $0.0008)
2. who can mine 1 million coins and how long would it take?
3. looking at the leaderboard or the block explorer we see people getting rewards of 10,000+ every half hour it seems.
4. so only top miners can hope to make $1000 in a reasonable timeline

compare this to the 'normal miner' (1 cpu at home maybe another at work)
1. maybe they mine 3-500 a day? so 15,000 a month?
2. 7 months to reach 1.25 million.  ($1000)

So you can see the inequality right there. correct?

As for could this happen with any other coin. No because of the volume of coins compared to biblepay. A low volume coin would not allow a miner to accumulate millions of coins very fast. Which means the coin is not attractive relative to other investment opportunities with their CPU powers.

I hope that explains my position a bit better. Maybe my analysis is wrong but that is what I can assess with the information I have seen.



Hi again,

Respectfully, I disagree. How long would it take you to mine $1000 worth of Bitcoin? Me personally, I probably never could! It is controlled by large miners in various places such as China. The volume of coins for BTC is significantly lower than BBP.

Sure, those who have higher hash get better rewards, but at least with cpu mining in Biblepay the small miners still get some reward. What do you want? Everyone gets an even amount for participating regardless of the work done? We will end up with lots of terrible quality nodes!

Also, you can invest $1000 by buying from an exchange, you don't have to mine it.

As far as emission rate, I don't think any coin has cracked this yet. Mostly because techies are usually not economists.



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November 29, 2017, 11:53:13 PM
 #392


Hi again,

Respectfully, I disagree. How long would it take you to mine $1000 worth of Bitcoin? Me personally, I probably never could! It is controlled by large miners in various places such as China. The volume of coins for BTC is significantly lower than BBP.

Sure, those who have higher hash get better rewards, but at least with cpu mining in Biblepay the small miners still get some reward. What do you want? Everyone gets an even amount for participating regardless of the work done? We will end up with lots of terrible quality nodes!

Also, you can invest $1000 by buying from an exchange, you don't have to mine it.

As far as emission rate, I don't think any coin has cracked this yet. Mostly because techies are usually not economists.


Ok. I get your position. Its rare to agree on matters of crypoto-economics anyways. That was fun Smiley
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November 29, 2017, 11:57:30 PM
 #393


Hi again,

Respectfully, I disagree. How long would it take you to mine $1000 worth of Bitcoin? Me personally, I probably never could! It is controlled by large miners in various places such as China. The volume of coins for BTC is significantly lower than BBP.

Sure, those who have higher hash get better rewards, but at least with cpu mining in Biblepay the small miners still get some reward. What do you want? Everyone gets an even amount for participating regardless of the work done? We will end up with lots of terrible quality nodes!

Also, you can invest $1000 by buying from an exchange, you don't have to mine it.

As far as emission rate, I don't think any coin has cracked this yet. Mostly because techies are usually not economists.


Ok. I get your position. Its rare to agree on matters of crypoto-economics anyways. That was fun Smiley
Yes, I agree! haha
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November 30, 2017, 12:07:51 AM
 #394

Good to see the price break higher.  Would be nice to have an uptrend instead of sideways.
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November 30, 2017, 12:09:31 AM
 #395

Good to see the price break higher.  Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?

Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.
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November 30, 2017, 12:50:34 AM
 #396

Good to see the price break higher.  Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?

Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.

Its clearly someone whos buying to get a Sanctuary, the announcement and this "pump" is related...
diptocoli
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November 30, 2017, 01:31:57 AM
 #397

Price increases are a good thing.

ALTCOMMUNITY COIN
 SONOHUB  FORUM  eSPORTS 
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November 30, 2017, 02:22:58 AM
 #398

Price increases are a good thing.

If you aint buying lol
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November 30, 2017, 02:29:35 AM
 #399

Price increases are a good thing.

If you aint buying lol
I did not buy, I only mine..CC

ALTCOMMUNITY COIN
 SONOHUB  FORUM  eSPORTS 
adrianbits
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November 30, 2017, 03:06:18 AM
 #400

Good to see the price break higher.  Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?

Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.

It was me guys. I had to make my final point and demonstrate how easy it is to pump up the price when you can mine so much coin. LOL

(i wish!)

In all seriousness this goes to my point on how 'powerhashers' can manipulate prices.
The sell right now is at 15 sat and the buy is at 10. So if you have 100 bbp you cant sell at 15 cause there are so many coins in the line in front. So you have to sell at 10.

This demonstrates a weakness in the large volume of coins. Unfair distribution and price manipulation
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