BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)

[bible_pay]

Hi,

Regarding the pool website, it would be nice to see in the leaderboard "Total Hashes Per Second" column, so I can see my position in the leaderboard, but as it is now, there are two "Hashes Per Second"  columns for some reason.

Yeah, it does appear pretty confusing to see both HPS columns.  The left one is what your client is reporting to the pool, the right one is what the pool is measuring.
I think we can safely take the left one off soon, but give us a little more time, lets do it after Christmas, because right now we are transitioning from the current Proof-of-Biblehash algorithm (f7000) to the new PoBH (f8000), and it will be valuable for diagnostics for another month just to see what the clients are reporting in f8000 after the masternodes go live.  After that we can clean it up a lot, cosmetically.


On a side note everyone I am thinking of writing a PR feature into the wallet to spread BiblePay's popularity.  Im thinking of creating a system to embed a Guid in the build for a PR event, so we can give away some free BBP out of the faucet, Im thinking maybe 250 BBP per wallet, but Only if you redeem the code as a new user.

Something like: you download the windows wallet, and when it opens the first time it creates a redeemable faucet guid.  Then the user can come to the faucet and paste the coupon code into the faucet and receive the BBP into the wallet associated with the coupon.  I have to make it to where if the coupon is not redeemed it doesnt charge the pool (otherwise pool would go bankrupt).

This way Im thinking if I create a google adwords campaign, if I advertise to 1 million new users, maybe we pick up 1000 out of this deal and it costs me 200 * 1000, that would be worth it.

[1714825752]

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[1714825752]

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[1714825752]

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[bible_pay]

Check out this stunning feature Alex added to our block explorer:

https://biblepay-explorer.org/block/d7fd5003bdc606d521c563a60980db4b77a8aaa59963dfa3a05cc08f70ff5542




First he reports the Bible Hash verses found in the block.
Next he reverse engineered the Book of the bible from the verse, in order to provide the full book name, chapter and verse number on the suffix of the verse.
Next he provides a ref-tagger pop-up for reference to the verse itself.

This means our user can hover over the verse and see the actual verse in context!

Isnt that cool?

[bible_pay]

[DrearyUrbanite]

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

[togoshigekata]

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."

[slovakia]

i have 2 ppl for translate to KOREAN+BRASIL=PORTUGAL
give me any things,what we need to translate

[togoshigekata]

Sanctuary Escrow Requirement - Christmas 2017:

The escrow requirement is 1,550,001 BBP per Sanctuary.  (Thats approx. $1,250 USD).

By owning and operating a Masternode (Sanctuary), you become a part owner of the whole project
and are granted voting rights which can be used to vote on the direction of the project and on the funding of proposals,
you also get rewarded for keeping the Masternode (Sanctuary) running 24/7.

Masternodes (Sanctuaries) are going live this Christmas, December 25th 2017.

===

Decentralized Governance: https://www.dash.org/governance/

DASH School: https://www.youtube.com/playlist?list=PLiFMZOlhgsYKKOUOVjQjESCXfR1cCYCod

Masternode (Sanctuary) Testing: https://www.reddit.com/r/BiblePay/comments/7bx4bl/need_masternode_testers/

===

Block Reward Breakdown after Christmas*:
10% Charity
5% IT
2.5% PR (Public Relation campaigns)
2.5% P2P (orphan letter writing, Pay To Preach, Pay to be a Priest, FAQ writers, Social Media functions)
40% Miners
40% Masternodes (Sanctuaries)

*Depending upon poll results:
http://forum.biblepay.org/index.php?topic=33.0

[znffal]

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

Hi Dreary,

Sorry man, life gets busy, you know?

I'm not a dev so people are free to correct my answers below. We are developing a new website and, in my opinion, this is going to be one of the major things to address "what is the purpose/use of this currency?".
My answer based on limited knowledge:

1. Biblepay uses a new cryptographic algorithm that uses the KJV bible in the hashing algorithm (I don't know specifics of how it works).
2. The coins, BBP, are a currency that is more fairly distributed (e.g. BTC has ~96% of coins owned by ~3% of addresses). To achieve this the dev has done the following
     a) No ICO (all coins have to be mined)
     b) No pre-mine (all coins have to be mined, even by the dev himself)
     c) The mining is resistant to GPU mining, i.e. this coin is mineable using a cpu meaning that anyone can mine the coins.
3. The project is used to help those in need. Currently 10% of all mined coins sponsor children through compassion.com. There are currently around 180 children sponsored. The charity may change in the future, but always 10% of each block reward will go to charity.
4. In addition to using cpu mining for fairness, this also should help reduce energy usage (a bit problem with BTC right now).
5. To spread the good news of Jesus. There is a readable bible integrated into the BBP wallet.
6. To buy things. The dev is currently testing code where you can buy things using BBP from Amazon. Hopefully more places can be added once this is working correctly.
7. As an investment. The block reward is decreasing at ~1.5% per month. The dev is also working on "retirement coins" which would be a long term hodl, rather than BBP which is more of a currency.

This project is in its infancy, and there is a lot that is still to be done. But it has great potential. A few ideas that I had:

A) BBP could be used to buy things from Christian e-commerce stores (I would hope to convince them to accept BBP as payment directly).
B) Similarly, I would hope that one day charities would accept BBP directly as a donation. I think currently charities are hesitant to accept any crypto as donations due to no clarity over legal issues.
C) To quickly send support to those in need across the world. BTC is so slow and expensive to send. BBP is fast and cheap. We could use this to support people around the world. Imagine a hurricane strikes the country of MadeUpCountry. We could contact a local church/charity and set up a wallet for people to donate to. The local church/charity then can use that support to buy supplies or whatever is needed. This would require places to accept BBP as payment, or an exchange where they could convert BBP -> BTC -> local currency.  Again, this will be a work in progress.

I'm sure there are many other good ideas and I forgot some of the ones I had. But the main point is BBP is supposed to be a fair crypto currency that can be used to help people in need, to purchase goods and services, and as an investment. At least, that's how I see it.
There is much to be done!


EDIT: I forgot to say that the dev hopes to integrate this currency into a debit card for general use ( https://uquid.com/dash-debit-card ) but we need more volume first so marketing and improving features will come first.

[slovakia]

send me PM if you wanna cheap VPS with BlackFriday discount 

[kurret]

On a side note, I think I have stumbled onto a future enhancement to keep us asic-free and gpu-free forever, without relying on other nodes, but yet keeping CPU proof-of-work.

We dont need to do this now, but lets keep it documented for the future.

This is an enhancement for PoW that makes it infeasible to mine using an asic and makes us Less Greedy.

     I realize if we really wanted to we could be POS, but we are shooting for all the existing miners who still enjoy POW in cryptology that might choose us as their coin flavor because they like POW and want to be more efficient without the greed element (IE promoting a rat race of black boxes).

So here it is.  Since a full node is required to spend money (IE do the work of creating and broadcasting a transaction), we could allow the miner to make OrphanWallet donations in BBP by using a miner setting (like 2BBP per 10 mins to the Orphan Foundation etc)  - other nodes sum donations in the past hour - to influence the current hash outcome, IE if Node 1 donates 10 BBP in the last hour, and Node 2 donates 5 BBP, and Node 3 decides to donate 5BBP+5BBP+5BBP+5BBP+5BBP in an hour, the hash result is influenced most strongly by the greatest donated TXID hex in the list.  (We would have to ensure the transactions must be > than say 5BBP each however, to limit spam transacton quantity on the network).  So the BibleHash miner is a competition of "giving" to charity.

 So one cannot gain an advantage over another by donating more frequently or more quantity of donations, but only by having a "confirmed" BibleHashOf(TXID+BlockHash) higher than another donation.  The highest confirmed BibleHash(OfTXID) influences the hashtarget the most, meaning that CPU miners would dominate this algorithm by gaining a hashing difficulty advantage over others.  If one were to donate more BBP transactions in that hour, one would have a propensity to receive a higher TXID.  Then it would become a competition of who donated the most efficiently in the last hour.  Not sure how this would go over, but we can keep it in mind.

  Alternatively, we could log the scriptSig in the Donation, and make the sumOf(scriptSig) the best donation potentially.  Another words, the most BBP donated by one address
 in one hour gets the most influence in winning the next block.

 

I was just thinking of this a little more, maybe we could be the first coin utilizing Proof-of-Generosity or Proof-of-charity or proof-of-donation etc.  We could make it a little simpler: In the miner, the one who donated the most per BBP source address (that matches the reward address) in the last hour wins the block, but I just thought of a big problem... This would only work for solo mining.

The reason it is so compelling, I was just thinking, if we had very generous miners trying to "win" the block by "donating" the most to charity, the money supply would hardly expand (IE we would have a competition of Spending to win each block).  That would potentially drive the price up because no new coins would be entering the exchanges....  But like I said, the pool ruins this idea, as people who are pool miners sign the block over to the pool.

Well to send the money to a charity, it would have to be sold on an exchange, so it would go into circulation anyhow.

[doutor_broncco]

Hi everyone,

About the increase in volume for the coin. The guys from Binance opened the "Community Coin of the Month - Round 4".
We could request the coin to be listed. Even if we don't get the coin on the exchange, BBP coul get noticed.

[znffal]

Hi everyone,

About the increase in volume for the coin. The guys from Binance opened the "Community Coin of the Month - Round 4".
We could request the coin to be listed. Even if we don't get the coin on the exchange, BBP coul get noticed.

I like it! How would we go about it?

[togoshigekata]

Binance - Community Coin of the Month - Round 4:
https://support.binance.com/hc/en-us/articles/115003042571-Community-Coin-of-the-Month-Round-4

Binance is ranked #5 in coin volume! https://coinmarketcap.com/exchanges/volume/24-hour/

Sadly it looks like the voting is done on Twitter with retweets, our main Twitter account only has 69 followers so far:
https://twitter.com/BiblePay

[bible_pay]

Binance - Community Coin of the Month - Round 4:
https://support.binance.com/hc/en-us/articles/115003042571-Community-Coin-of-the-Month-Round-4

Binance is ranked #5 in coin volume! https://coinmarketcap.com/exchanges/volume/24-hour/

Sadly it looks like the voting is done on Twitter with retweets, our main Twitter account only has 69 followers so far:
https://twitter.com/BiblePay

Good idea guys- I filled out Binances 8 Page application for Community Voting and submitted it.

[slovakia]

BINANCE IS BIG DRAGON BETWEEN EXCHANGES

[znffal]

Was just playing around with the new  "Block History View" which Rob implemented.

For the last 512 blocks which the pool has found, the block reward has these statistics:

mean: 9324
median: 9381
mode (most frequent payout): 5000

The distribution is interesting. It makes me thankful that Rob implemented a 5000 lower reward

[bible_pay]

Was just playing around with the new  "Block History View" which Rob implemented.

For the last 512 blocks which the pool has found, the block reward has these statistics:

mean: 9324
median: 9381
mode (most frequent payout): 5000

The distribution is interesting. It makes me thankful that Rob implemented a 5000 lower reward

Yeah Im glad we put that variable diff reward in also, otherwise we would have been flooding c-cex with lots of coins.

If BTC keeps rising at this rate ($100 a day), we'll be trading at 1 satoshi for our fair value (the minimum level on c-cex) and will not need to check our price LOL, we would have 20BTC of volume at 1 satoshi, no other entries on the buy side and a full sell side, unbelievable BTC is doing this.

I had a fish-tank miner once where the machine was under the oil (it was mineral oil) and mined 7 million $ of BTC, and here is how much of that I have today : ZERO.  The hard drive went, the oil went all over the floor, and I kept the drive around for a couple years, when BTC rose to I think about $10K of value I installed an elaborate sector program that retrieves data from the drive sector by sector and actually found the wallet.dat file.  But, I couldnt get the key out because part of a windows file overwrote the key LOL.  So yeah, I doubt I would have that money even if it rose to $50k as I probably would have cashed it out back then...

[togoshigekata]

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"

[slovakia]

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

[adrianbits]

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?