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

[2bfree]

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

[slovakia]

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

[adrianbits]

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!

[adrianbits]

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

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

[znffal]

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

[adrianbits]

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?

[znffal]

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?

[adrianbits]

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.

[znffal]

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.

[adrianbits]

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

[sharpshot]

Good to see the price break higher.  Would be nice to have an uptrend instead of sideways.

[znffal]

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.

[gigabyted]

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]

Price increases are a good thing.

If you aint buying lol

I did not buy, I only mine..CC

[adrianbits]

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

[Alex873434]

I really don't understand what's the deal with the amount of coins? Just move the decimal?
Coins will be worth less but you will have more of them? So instead of having to think in terms of having floating numbers you can maybe have nice integers (having 0.000001 bbp vs having 10 bbp?)

10 000 JPY is worth 90 USD? People just have more JPY? that's it.

Coins will be worth less but you will have more of them to make up for it. I really don't understand what's the big deal about it.

[bible_pay]

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

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.  (IE tipping programs, P2P features, etc).

[gigabyted]

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

Well this has nothing to do with the amount of coins, it only has to do with the volume of traders on the coin, if there was 100 btc each side, you wouldn't have been able to do this at all.  Look there some coins that are stuck at 1 sats and 2 sats with tens of BTC on each side.  The supply is not related at all.

[bible_pay]

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"

These are cool charts, thanks!

According to this, the avg daily rate of return of bitcoin has been 2.23%, while the APY at the bank is .85%.

I like the smaller units, and its definitely possible, but they would need to lower transaction fees by 1/100th also.  I think thats why its $17 to withdraw from CCEX.

[slovakia]

im compiled hundreds machines=cheap VPS for 13 ppl and mininig is nice for all= all told me that is very stable with prices=mining=ROI and we support children ....
and yes exists strong miners in leaderboard on every coins= but will be happy for them,every strong miner is important for every coin in coinmarketcap ....