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Author Topic: BiblePay - New Coin Launch - Official Thread  (Read 24438 times)
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adrianbits
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November 30, 2017, 10:44:16 PM
 #421

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

Thats wrong, you can still sell at 15.  This concept applies to much more than altcoins, you see it in penny stocks too.  This happens when the trading volume is low.  When its high, there are thousands of trades and the buy and sell are seperated by a penny or some other low amount.  When its low volume the buy and sell are further apart.  If you really want the coin, you will pay for the higher ask price.  If you don't you will stick with the low bid.  On the other hand, if you really want to sell, you will sell for the low bid price, otherwise, you stay at the higher ask.  Eventually the buyers and sellers will inch their offers forward.  Like if I really want to buy and the high bid is 10 sat, maybe ill put in an order for 11 sat.  A seller might really want to sell, so they will put in a sell order at 14 sat instead of 15.  When volume gets high enough, the numbers meet.

I am probably wrong i do not know. I am new to this so please be patient and help me understand.

Right now the exchange shows that to sell at 13 sat, there are 568696 coins available

0.00000013   568696.06475821

the next tier 14,15,16 is the same.Flooded with coins.

So say i have 100 bbp i want to sell. As i understand it, again I may be wrong, but I cant sell at those prices because there are already a huge amount of coins in front of me that will sell first. correct?

So i have to always settle for the buy side of 12 sat.

With my capabilities, I could never hope to get 500k coins to sell. That would take at least a year.  In that year what will happen? The same miners would be continually pumping out coins to sell and create these walls that small, normal miners could never overcome. I would always have to settle for the highest buy bid which is the lowest price.

Am i wrong in my thinking? Please explain how i could sell 100 bbp at 13 sat if its saturated with coins?

I think in the longer terms this will keep the prices of the coins always in the sub 100 sat level. Miners with greater hashing power will always turn around and sell very large volumes for profit. More new miners will enter to do the same. At some point the difficulty will increase and this dynamic may slow down. But in all that time the normal miner cant hope to make a profit.

Again I may be totally wrong but that just seems to be how this is going at the moment.

Thanks in advance for any correction of my thinking.




There are a lot of nuances to what you said above, so the answer is multifaceted and long winded.

Let me try to cover the tips and you can ponder and google between the lines.

The (crypto exchange) market at the money fills Market orders.  So if you sacrifice time (IE convenience) for price, you settle for the "market" price (thats .0011 per coin) in USD.
If you have 500,000 to sell and you dont sacrifice time, you can set Limit orders up.  There is a chance over time those will be Hit.

We also have to consider the forward value of BBP.  Some like myself, believe we will appreciate over the next year based on G5 inflation and our deflation, technology, sanctuaries, and being a good investment for the future.  So some are actually mining based on our forward value.  The reward of 10,000 BBP means a newer PC earns about 500 coins a day (IE $18 a month) which is about break-even for electric rates and depreciation (of the computer).



Ok yes i understand a bit more thank you! I will be one of those who putt-putt-putt mine for 'forward value'. That is why i asked earlier what kind of stronger features the coin will have to increase its value. Charity function is awesome do not mistake me

As well could you address this theory of over supply keeping prices low? If the top miners keep creating coins, then sell them, then do it again, over and over wont that continually setup a lot of supply with less demand? The demand side i see is people wanting to buy a masternode. What else would/could drive the demand? Again this relates to the idea of more, stronger features to drive demand.

I hope I am expressing myself correctly. Right now it seems there is a circle. The miner makes  a lot of coins, to sell a lot of coins, to people who want to buy a masternode to get more coins. So they get the masernode, and it generates more coins for them. So they sell them. For more masternodes. etc. Repeat cycle. Maybe this is the nature of crypto right now and biblepay is no different? Well, of course there is one difference with the children and that is very good.
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December 01, 2017, 02:35:17 AM
 #422

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

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December 01, 2017, 02:44:35 AM
 #423

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

I've heard of her...She does good work with promoting on Twitter and LinkedIn. Think she has done some social media coordinator stuff for some other coins as well.

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December 01, 2017, 02:52:54 AM
 #424

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

I've heard of her...She does good work with promoting on Twitter and LinkedIn. Think she has done some social media coordinator stuff for some other coins as well.

Did you just delete your message and pretend to be someone else to promote yourself?

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December 01, 2017, 03:48:39 AM
 #425

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

I've heard of her...She does good work with promoting on Twitter and LinkedIn. Think she has done some social media coordinator stuff for some other coins as well.

Did you just delete your message and pretend to be someone else to promote yourself?



Lol, technically true haha
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December 01, 2017, 04:57:30 AM
 #426

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

I've heard of her...She does good work with promoting on Twitter and LinkedIn. Think she has done some social media coordinator stuff for some other coins as well.

Did you just delete your message and pretend to be someone else to promote yourself?



Lol, technically true haha

She only has 439 followers and retweets like 30 times a day?  And wants a masternode?  I would rather try and get Ronnie Moas's
https://twitter.com/RonnieMoas  attention or Willy Woo's https://twitter.com/woonomic
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December 01, 2017, 05:00:37 AM
 #427

Twitter user CryptoTonya is interested in bounty/promoting/PR:  https://twitter.com/TonyaZee/status/936388601604079616

I've heard of her...She does good work with promoting on Twitter and LinkedIn. Think she has done some social media coordinator stuff for some other coins as well.

Did you just delete your message and pretend to be someone else to promote yourself?



Lol, technically true haha

LOL~~ This is hilarious... And thank you @Alex873434 for your sharp eye to notice this. I believe there are a lot of these people trying to cheat coin developer, same as LindaCoin developer faced : https://bitcointalk.org/index.php?topic=2126041.msg24194897#msg24194897.



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December 01, 2017, 06:51:52 AM
 #428

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

Thats wrong, you can still sell at 15.  This concept applies to much more than altcoins, you see it in penny stocks too.  This happens when the trading volume is low.  When its high, there are thousands of trades and the buy and sell are seperated by a penny or some other low amount.  When its low volume the buy and sell are further apart.  If you really want the coin, you will pay for the higher ask price.  If you don't you will stick with the low bid.  On the other hand, if you really want to sell, you will sell for the low bid price, otherwise, you stay at the higher ask.  Eventually the buyers and sellers will inch their offers forward.  Like if I really want to buy and the high bid is 10 sat, maybe ill put in an order for 11 sat.  A seller might really want to sell, so they will put in a sell order at 14 sat instead of 15.  When volume gets high enough, the numbers meet.

I am probably wrong i do not know. I am new to this so please be patient and help me understand.

Right now the exchange shows that to sell at 13 sat, there are 568696 coins available

0.00000013   568696.06475821

the next tier 14,15,16 is the same.Flooded with coins.

So say i have 100 bbp i want to sell. As i understand it, again I may be wrong, but I cant sell at those prices because there are already a huge amount of coins in front of me that will sell first. correct?

So i have to always settle for the buy side of 12 sat.

With my capabilities, I could never hope to get 500k coins to sell. That would take at least a year.  In that year what will happen? The same miners would be continually pumping out coins to sell and create these walls that small, normal miners could never overcome. I would always have to settle for the highest buy bid which is the lowest price.

Am i wrong in my thinking? Please explain how i could sell 100 bbp at 13 sat if its saturated with coins?

I think in the longer terms this will keep the prices of the coins always in the sub 100 sat level. Miners with greater hashing power will always turn around and sell very large volumes for profit. More new miners will enter to do the same. At some point the difficulty will increase and this dynamic may slow down. But in all that time the normal miner cant hope to make a profit.

Again I may be totally wrong but that just seems to be how this is going at the moment.

Thanks in advance for any correction of my thinking.




There are a lot of nuances to what you said above, so the answer is multifaceted and long winded.

Let me try to cover the tips and you can ponder and google between the lines.

The (crypto exchange) market at the money fills Market orders.  So if you sacrifice time (IE convenience) for price, you settle for the "market" price (thats .0011 per coin) in USD.
If you have 500,000 to sell and you dont sacrifice time, you can set Limit orders up.  There is a chance over time those will be Hit.

We also have to consider the forward value of BBP.  Some like myself, believe we will appreciate over the next year based on G5 inflation and our deflation, technology, sanctuaries, and being a good investment for the future.  So some are actually mining based on our forward value.  The reward of 10,000 BBP means a newer PC earns about 500 coins a day (IE $18 a month) which is about break-even for electric rates and depreciation (of the computer).



Ok yes i understand a bit more thank you! I will be one of those who putt-putt-putt mine for 'forward value'. That is why i asked earlier what kind of stronger features the coin will have to increase its value. Charity function is awesome do not mistake me

As well could you address this theory of over supply keeping prices low? If the top miners keep creating coins, then sell them, then do it again, over and over wont that continually setup a lot of supply with less demand? The demand side i see is people wanting to buy a masternode. What else would/could drive the demand? Again this relates to the idea of more, stronger features to drive demand.

I hope I am expressing myself correctly. Right now it seems there is a circle. The miner makes  a lot of coins, to sell a lot of coins, to people who want to buy a masternode to get more coins. So they get the masernode, and it generates more coins for them. So they sell them. For more masternodes. etc. Repeat cycle. Maybe this is the nature of crypto right now and biblepay is no different? Well, of course there is one difference with the children and that is very good.

If miners are just selling and there is no interest in buying, then yes there will be more supply than demand and prices will drop. If more people want to buy than those selling, then prices rise.  There are multiple catalysts that create demand.  Some people want to run a masternode, others just like the idea of helping orphans and/or the religious aspect, some people are buying because they think the price will rise.  Some miners want to dump their coins right away, others hold it for the reasons I just stated.  As of right now, yes its a circle, but anyone trading stocks or currencies will tell you its a circle to them too.  If I trade on the forex and buy euros, rubles, pesos, or whatever currency, I'm not buying it to use on vacation, I'm buying it to sell and make a profit.  Go to this site and look at the trading volumes:  https://coinmarketcap.com/  Now is probably a bad time for an example since all of the coins are currently trading lower, but look at Dash.  $492 million dollars worth of Dash traded in the last 24 hours, and it still went up 6%.  That means $246 million dollars worth of Dash was sold and it didn't collapse the price.
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December 01, 2017, 08:43:29 AM
 #429

People buying coins for sanctuaries could push the price up.  They effectively take coins out of circulation as well, so the big supply is less of a concern.  If BBP gets listed on more exchanges, the volume should increase and that will help.  If the chart is right, someone bought at 16 sats this week, not quite sure how that happens.

If all the miners set their sell orders a bit higher, the price would go up and they would make more money but that's not likely to happen.
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December 01, 2017, 10:26:28 AM
 #430

Dear children of God, would you please help me how to mine Biblepay? I'm an acolyte/newbie  Undecided

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December 01, 2017, 11:55:36 AM
 #431

http://biblepay.inspect.network/

working


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

helping orphans by helping biblepay coin CPU mine
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December 01, 2017, 04:35:24 PM
 #432

To quickly summarize how the markets work, use the following as an example in easy numbers.

You have 100 ABC to sell.

The CCex price says there are sell orders for 2000 ABC at 20 sat and 1900 ABC at 21 sat.  Meanwhile, there are buy orders for 500 ABC at 18 sat and 1000 ABC at 17 sat.

You have multiple options, but the three most basic ones are this.

You could sell your 100 ABC instantly for 18 sat, fulfilling part of that buy order.  You would instantly receive 1800 Sat minus commission.

You could place a sell order for 20 sat, and that would increase the sell order from 2000 ABC to 2100 ABC.  Once 2000 ABC had sold at 20, your 100 ABC would be the next to sell.  If I am the user trying to sell 2000 ABC, and I cancel my sell order, then your order goes to the front of the line, even if 8 hours later I place a new sell order for 20 sat.  It's a FIFO system.

You could place a sell order for 100 ABC at 19 sat, becoming the only sell order at that level, and being the first in that line.

To refine the example, if you had 1500 ABC to sell, you could instantly sell the first 500 for 18 sat, and the last 1000 for 17 sat, fulfilling both buy orders at said prices.

Most markets move pretty quickly, so even if you duplicate a price and get last in line, if you're near the transaction line (where the buy and sell orders are actually occurring) you'll move up in a reasonable time.

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December 01, 2017, 05:32:17 PM
 #433

Despite reading the OP, I don't quite understand what this coin is supposed to represent. Bible verses are hashed into chain? And what is the reason for that? Who is meant to use this currency?

You guys are running a bible coin but not answering my question. It seems weird. So what is the prior purpose of this coin?

"Love one another,
be a good Samaritan,
help those in distress (orphans & widows),
and spread the gospel."

Launch Post: https://bitcointalk.org/index.php?topic=2388064.0

Website: http://biblepay.org/

"BiblePay is a secure deflationary blockchain developed to benefit those in distress.
10% of the emission of the blockchain goes directly to sponsoring Orphans,
with provable contributions, contributed to an organization (Compassion.com) that is more than 75% efficient."

hmm, it's not that I feel satisfied with your answer. But hey, this is bible coin so we should all accept each other! Wink


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    ████    █████████++████████`   ████.   
    .████    ;████████████████    █████   
     '████`    +████████████     █████     
      +████+     `'█████+.     .█████     
       +█████.                ██████       
        ,██████;           .███████       
          █████████':,:;█████████.         
           ,███████████████████+           
             .███████████████;             
                `'████████,               
Megumi143
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Bolenium


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December 01, 2017, 05:35:34 PM
 #434

Take a look into listing on the BOLENUM exchange BLN on coinexchange. They're launching a beta versio Dec 15th and are looking to add 5 or 6 coins.
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December 01, 2017, 05:55:04 PM
 #435


I've run into a clitch installing BP using install_biblepay.sh on an ARM64 server running Ubuntu Xenial (16.04). I've downloaded the config scripts as advised below, but I'm uncertain how to run them either as root or user. Is anyone familiar with this issue?


usr1@s-016:~$ cd db-4.8.30.NC/build_unix
usr1@s-016:~/db-4.8.30.NC/build_unix$ ../dist/configure --enable-cxx --disable-shared --with-pic --prefix=$BDB_PREFIX
checking build system type... ../dist/config.guess: unable to guess system type

This script, last modified 2009-02-03, has failed to recognize
the operating system you are using. It is advised that you
download the most up to date version of the config scripts from

  http://git.savannah.gnu.org/gitweb/?p=config.git;a=blob_plain;f=config.guess;hb=HEAD
and
  http://git.savannah.gnu.org/gitweb/?p=config.git;a=blob_plain;f=config.sub;hb=HEAD


If the version you run (../dist/config.guess) is already up to date, please
send the following data and any information you think might be
pertinent to <config-patches@gnu.org> in order to provide the needed
information to handle your system.

config.guess timestamp = 2009-02-03

uname -m = aarch64
uname -r = 4.4.100-mainline-rev1
uname -s = Linux
uname -v = #1 SMP Tue Nov 21 08:58:03 UTC 2017

/usr/bin/uname -p =
/bin/uname -X     =

hostinfo               =
/bin/universe          =
/usr/bin/arch -k       =
/bin/arch              =
/usr/bin/oslevel       =
/usr/convex/getsysinfo =

UNAME_MACHINE = aarch64
UNAME_RELEASE = 4.4.100-mainline-rev1
UNAME_SYSTEM  = Linux
UNAME_VERSION = #1 SMP Tue Nov 21 08:58:03 UTC 2017
configure: error: cannot guess build type; you must specify one
usr1@s-016:~/db-4.8.30.NC/build_unix$ make install
make: *** No rule to make target 'install'.  Stop.
orbis
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December 01, 2017, 06:20:48 PM
 #436

Hi,
I have a question.
I know, that you are planning some improvements in pool statistics, but
do you plan in future to implement some more statistics?
For example general statistics, like on many other pools:
Code:
Pool Hash Rate
Pool Efficiency
Current Active Workers
Current Difficulty
Est. Next Difficulty
Est. Avg. Time per Round (Network)
Est. Avg. Time per Round (Pool)
Est. Shares this Round
Next Network Block
Last Block Found
Time Since Last Block
etc.

You are doing great job Wink

I like more searching and reading, than writing Wink
slovakia
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December 01, 2017, 09:47:37 PM
 #437

Pool Hash Rate we got it
Current Active Workers we got it= you can found all miners on pool+linux+windows miners
Current Difficulty for this is explorer

helping orphans by helping biblepay coin CPU mine
bible_pay
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December 01, 2017, 09:48:14 PM
 #438

Hi,
I have a question.
I know, that you are planning some improvements in pool statistics, but
do you plan in future to implement some more statistics?
For example general statistics, like on many other pools:
Code:
x Pool Hash Rate
Pool Efficiency (Please define)
x Current Active Workers
Current Difficulty
Est. Next Difficulty
Est. Avg. Time per Round (Network)
Est. Avg. Time per Round (Pool)
Est. Shares this Round
Next Network Block
x Last Block Found
Time Since Last Block
etc.

You are doing great job Wink


A few of these are on the about page.  Yes, I think we can add some of these others.



▄     B I B L E P A Y    ▄     The Cryptocurrency for Christians   ▄      B I B L E P A Y      ▄
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slovakia
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December 01, 2017, 09:51:42 PM
 #439

bible_pay have you ever thought about change name our coin? more ppl told me that name of this coin is bad  Wink BIBLECOIN for example or something other

helping orphans by helping biblepay coin CPU mine
adrianbits
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December 01, 2017, 11:00:01 PM
 #440

To quickly summarize how the markets work, use the following as an example in easy numbers.

You have 100 ABC to sell.

The CCex price says there are sell orders for 2000 ABC at 20 sat and 1900 ABC at 21 sat.  Meanwhile, there are buy orders for 500 ABC at 18 sat and 1000 ABC at 17 sat.

You have multiple options, but the three most basic ones are this.

You could sell your 100 ABC instantly for 18 sat, fulfilling part of that buy order.  You would instantly receive 1800 Sat minus commission.

You could place a sell order for 20 sat, and that would increase the sell order from 2000 ABC to 2100 ABC.  Once 2000 ABC had sold at 20, your 100 ABC would be the next to sell.  If I am the user trying to sell 2000 ABC, and I cancel my sell order, then your order goes to the front of the line, even if 8 hours later I place a new sell order for 20 sat.  It's a FIFO system.

You could place a sell order for 100 ABC at 19 sat, becoming the only sell order at that level, and being the first in that line.

To refine the example, if you had 1500 ABC to sell, you could instantly sell the first 500 for 18 sat, and the last 1000 for 17 sat, fulfilling both buy orders at said prices.

Most markets move pretty quickly, so even if you duplicate a price and get last in line, if you're near the transaction line (where the buy and sell orders are actually occurring) you'll move up in a reasonable time.


Thanks for the detailed response.  The example numbers help.

When i look at the current market it is clogged at every level (12,13,14,15,etc ) is clogged with high volume of coins. So my original point is that there is no way for a normal 1 cpu miner to ever get into that area and always settle for the lower end (11 sat). The only hope is that the overall prices rises. But the supply side will always keep a cap on it.

It needs more demand. from features, PR, new exchanges, dunno  Huh

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