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

[znffal]

I just got a message that the deal fell through [to add us to Two Top 5 exchanges in Jan 2018].  So I am modifying the client to Not mint the 3.5 BTC block.  

(Note, the block was for 3.3 BTC for integration fees + .2 BTC for service fees that is why it was 3.5 btc).

I just wanted to update anyone that was waiting in the wings - not buying BBP to realize that we wont have any special deal to buy at next week, so I didnt want to stop anyone if you were holding off.  Now going forward, everything is voted in by the sanctuaries.

Hi Rob,

That's a shame. Never mind. With all the features being added we will find more interest and may find it easier to get on exchanges then.

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[bible_pay]

I just got a message that the deal fell through [to add us to Two Top 5 exchanges in Jan 2018].  So I am modifying the client to Not mint the 3.5 BTC block.  

(Note, the block was for 3.3 BTC for integration fees + .2 BTC for service fees that is why it was 3.5 btc).

I just wanted to update anyone that was waiting in the wings - not buying BBP to realize that we wont have any special deal to buy at next week, so I didnt want to stop anyone if you were holding off.  Now going forward, everything is voted in by the sanctuaries.

Hi Rob,

That's a shame. Never mind. With all the features being added we will find more interest and may find it easier to get on exchanges then.

Yeah, I agree, besides we are doing so much for the orphans, maybe we should call the CEO of the top #1 exchange and tell him to repent and then list us for free!

Hello?
"Repent, for the Kingdom of Heaven is Nigh!"

[bible_pay]

Recently Znffal came up with an idea for us to lease out franctional sanctuaries to those who cant afford a full sanctuary.
I was thinking of potential ways to make this happen and here is what I have so far:

The pool could offer two new services: Sanctuary technology leasing, and Fractional Sanctuary leases with Dividends.
For STL, you spin up a node on a provider like vultr and set it up per the information given by the pool, the pool provides the data on the config page.     Then you are paid weekly for the technology lease.

The second side of this, is the FSL.  (This is for the average end user who wants the investment..  So we have a one-to-many relationship from FSL->STL.  It might take 40 FSLs to fill up an STL).   In this case you sign up for a certain quantity of 1000's that you can afford, (that is BBP * 1000),
and you become a leaseholder on record assigned to an STL ID, and you send this fractional escrow to the address the pool provides on the page, and at that point, you start receiving dividend  payments based on your investment amount
automatically as long as the escrow remains in the investment.

The pool then combines all the BBP received for an STL into one transaction and creates an escrow vout for it and saves it (this is used to populate the page for the next STL).

So my first question is, what do you think is fair compensation for the STL?  They would pay $5-$10 a month to lease the vultr node, and they only have to set it up once, but then they do have to reboot it every time they see new start required.  So I was thinking maybe $30 for setup + $20 a month for the vultr lease renumeration + $10 a month for restarts = $60 a month.   We could then convert that to a percentage, maybe that is 30% of the average deal.  Once we know the percentage we could do something like this:  30/60/10: 30% to the STL, 60% to the FSL pool, and 10% to the pool....

Anyway, I think it would be a pretty cool hit-- also we could offer this as a way to "park" extra BBP for extra investments that happen to be laying around.

One thing I wanted to note:  The STL would be the one to vote for the sanctuary, so that would be part of their responsibility.

[zthomasz]

I just got a message that the deal fell through [to add us to Two Top 5 exchanges in Jan 2018].  So I am modifying the client to Not mint the 3.5 BTC block.  

(Note, the block was for 3.3 BTC for integration fees + .2 BTC for service fees that is why it was 3.5 btc).

I just wanted to update anyone that was waiting in the wings - not buying BBP to realize that we wont have any special deal to buy at next week, so I didnt want to stop anyone if you were holding off.  Now going forward, everything is voted in by the sanctuaries.

Hi Rob,

That's a shame. Never mind. With all the features being added we will find more interest and may find it easier to get on exchanges then.

Yeah, I agree, besides we are doing so much for the orphans, maybe we should call the CEO of the top #1 exchange and tell him to repent and then list us for free!

Hello?
"Repent, for the Kingdom of Heaven is Nigh!"

We pray that God will continue to show the way, to guide and bless this project, to open new doors, to open minds and hearts, to use us to help the children, to share the good news, to give us all strength, patience and humility, in Jesus name.

[bible_pay]

Now we are #1:

https://coinmarketcap.com/gainers-losers/

[slovakia]

Now we are #1:

https://coinmarketcap.com/gainers-losers/

 

btw: 1 important thing for masternode linux machine for hot wallet=  25GB is very low from VULTR= beware, get with min 50GB ..... we have problems on DASH with this VPS   after 1year will be this space complete fully
best choice will be build own cheap little machine=NUC INTEL is best choice for this or get cheap dedicated machine with 500GB space, exists more solutions

[znffal]

Recently Znffal came up with an idea for us to lease out franctional sanctuaries to those who cant afford a full sanctuary.
I was thinking of potential ways to make this happen and here is what I have so far:

The pool could offer two new services: Sanctuary technology leasing, and Fractional Sanctuary leases with Dividends.
For STL, you spin up a node on a provider like vultr and set it up per the information given by the pool, the pool provides the data on the config page.     Then you are paid weekly for the technology lease.

The second side of this, is the FSL.  (This is for the average end user who wants the investment..  So we have a one-to-many relationship from FSL->STL.  It might take 40 FSLs to fill up an STL).   In this case you sign up for a certain quantity of 1000's that you can afford, (that is BBP * 1000),
and you become a leaseholder on record assigned to an STL ID, and you send this fractional escrow to the address the pool provides on the page, and at that point, you start receiving dividend  payments based on your investment amount
automatically as long as the escrow remains in the investment.

The pool then combines all the BBP received for an STL into one transaction and creates an escrow vout for it and saves it (this is used to populate the page for the next STL).

So my first question is, what do you think is fair compensation for the STL?  They would pay $5-$10 a month to lease the vultr node, and they only have to set it up once, but then they do have to reboot it every time they see new start required.  So I was thinking maybe $30 for setup + $20 a month for the vultr lease renumeration + $10 a month for restarts = $60 a month.   We could then convert that to a percentage, maybe that is 30% of the average deal.  Once we know the percentage we could do something like this:  30/60/10: 30% to the STL, 60% to the FSL pool, and 10% to the pool....

Anyway, I think it would be a pretty cool hit-- also we could offer this as a way to "park" extra BBP for extra investments that happen to be laying around.

One thing I wanted to note:  The STL would be the one to vote for the sanctuary, so that would be part of their responsibility.

Hi Rob,

I like this idea a lot. I think that the effect of this would be to reduce the number of "stagnant" coins in wallets and on exchanges which is beneficial for the holders of BBP and for its price, which is good for the orphans, the project (i.e. IT budget), and the investors. It would also help more in the community to feel that they are getting some value from their coins and to feel more connected/involved.

Regarding specifics of your idea/plan. I like the idea of having the STL and FSL. The voting rights was a potential issue that you have resolved by giving that to the STL.

A few points/questions:

1. I assume that the STL would not start a masternode until all FSL spots are filled? i.e. the full 1,550,001 BBP has been raised.

2. What requirements would an STL need to have (aside from renting and running a server, voting)?
I propose that they would need to contribute a % of the required BBP (required FSL) for their node. For example, maybe they need to put in 10% of the FSL (roughly 150k BBP coins) to run an STL. I can imagine a situation where it is more profitable to run an STL than it is to mine BBP which seems less than ideal. Having the STL contribute some eskrow also would reduce this issue.

3. The address that all members would send their portion of FSL to, would this be an address controlled by the pool? This seems better than an address controlled by the person running the STL. This mitigates the "trust" issue.

4.   My opinion is that 30% for the STL is a little high, or at least, this should change to reflect the changing price of BBP. For example, if one day the 30% is roughly $60, and then we go x10, the STL is effectively being paid $600 a month.
Maybe a one time set-up payment of $30 (perhaps taken from the first masternode payment), then  $20 a month for the vultr lease renumeration + $10 a month for restarts = $30 a month or roughly 15%.
I think the setup fee should just be for the first month...
 I am a bit torn on this point as they are providing a service that would otherwise not be available to the FSL contributors. Hmmm, tough one.
10% seems fair for the pool to host the service.

EDIT( thought of a number 5.)

5. What happens if people want to withdraw their portion of the eskrow? Does the Masternode have to shut down until a replacement is found? Or do we implement a fixed term contract? i.e. a month long contract and you cannot withdraw your FSL contributions until the end of the month/contract?

In principle I think it would make a lot of people happy that their coins are actually being put to use.
The time-frame is pretty tight, when could such a service be implemented?

Thanks!

[znffal]

Now we are #1:

https://coinmarketcap.com/gainers-losers/

 

btw: 1 important thing for masternode linux machine for hot wallet=  25GB is very low from VULTR= beware, get with min 50GB ..... we have problems on DASH with this VPS   after 1year will be this space complete fully
best choice will be build own cheap little machine=NUC INTEL is best choice for this or get cheap dedicated machine with 500GB space, exists more solutions

This is a good question. If someone had the required BBP, is it OK to run a masternode on a dedicated machine with a high speed internet connection?
I am far away from the required amount, but if I get there, I have an i5 PC running Ubuntu which is mining. It is connected via ethernet to a high-speed fiber connection. It has not gone down in the whole time I have been mining. Very reliable!

Vultr seem to be one of the more reliable server providers. I tested a few others and I found they had some downtime.

[canonical]

Recently Znffal came up with an idea for us to lease out franctional sanctuaries to those who cant afford a full sanctuary.
I was thinking of potential ways to make this happen and here is what I have so far:

The pool could offer two new services: Sanctuary technology leasing, and Fractional Sanctuary leases with Dividends.
For STL, you spin up a node on a provider like vultr and set it up per the information given by the pool, the pool provides the data on the config page.     Then you are paid weekly for the technology lease.

The second side of this, is the FSL.  (This is for the average end user who wants the investment..  So we have a one-to-many relationship from FSL->STL.  It might take 40 FSLs to fill up an STL).   In this case you sign up for a certain quantity of 1000's that you can afford, (that is BBP * 1000),
and you become a leaseholder on record assigned to an STL ID, and you send this fractional escrow to the address the pool provides on the page, and at that point, you start receiving dividend  payments based on your investment amount
automatically as long as the escrow remains in the investment.

The pool then combines all the BBP received for an STL into one transaction and creates an escrow vout for it and saves it (this is used to populate the page for the next STL).

So my first question is, what do you think is fair compensation for the STL?  They would pay $5-$10 a month to lease the vultr node, and they only have to set it up once, but then they do have to reboot it every time they see new start required.  So I was thinking maybe $30 for setup + $20 a month for the vultr lease renumeration + $10 a month for restarts = $60 a month.   We could then convert that to a percentage, maybe that is 30% of the average deal.  Once we know the percentage we could do something like this:  30/60/10: 30% to the STL, 60% to the FSL pool, and 10% to the pool....

Anyway, I think it would be a pretty cool hit-- also we could offer this as a way to "park" extra BBP for extra investments that happen to be laying around.

One thing I wanted to note:  The STL would be the one to vote for the sanctuary, so that would be part of their responsibility.

Hi Rob,

I like this idea a lot. I think that the effect of this would be to reduce the number of "stagnant" coins in wallets and on exchanges which is beneficial for the holders of BBP and for its price, which is good for the orphans, the project (i.e. IT budget), and the investors. It would also help more in the community to feel that they are getting some value from their coins and to feel more connected/involved.

Regarding specifics of your idea/plan. I like the idea of having the STL and FSL. The voting rights was a potential issue that you have resolved by giving that to the STL.

A few points/questions:

1. I assume that the STL would not start a masternode until all FSL spots are filled? i.e. the full 1,550,001 BBP has been raised.

2. What requirements would an STL need to have (aside from renting and running a server, voting)?
I propose that they would need to contribute a % of the required BBP (required FSL) for their node. For example, maybe they need to put in 10% of the FSL (roughly 150k BBP coins) to run an STL. I can imagine a situation where it is more profitable to run an STL than it is to mine BBP which seems less than ideal. Having the STL contribute some eskrow also would reduce this issue.

3. The address that all members would send their portion of FSL to, would this be an address controlled by the pool? This seems better than an address controlled by the person running the STL. This mitigates the "trust" issue.

4.   My opinion is that 30% for the STL is a little high, or at least, this should change to reflect the changing price of BBP. For example, if one day the 30% is roughly $60, and then we go x10, the STL is effectively being paid $600 a month.
Maybe a one time set-up payment of $30 (perhaps taken from the first masternode payment), then  $20 a month for the vultr lease renumeration + $10 a month for restarts = $30 a month or roughly 15%.
I think the setup fee should just be for the first month...
 I am a bit torn on this point as they are providing a service that would otherwise not be available to the FSL contributors. Hmmm, tough one.
10% seems fair for the pool to host the service.

EDIT( thought of a number 5.)

5. What happens if people want to withdraw their portion of the eskrow? Does the Masternode have to shut down until a replacement is found? Or do we implement a fixed term contract? i.e. a month long contract and you cannot withdraw your FSL contributions until the end of the month/contract?

In principle I think it would make a lot of people happy that their coins are actually being put to use.
The time-frame is pretty tight, when could such a service be implemented?

Thanks!

Have you come across MUE? It needs something like 500,000 coins for a masternode which is quite a lot of cash (was, at least, before the price dropped a lot) and their service, mymue.com, which fractional shares for 10,000 coins.

[ermintrude]

Two questions, actually turns out it was 3, about Sanctuaries..

        These are only Linux ? Or will there be a Windows solution to this ?

        And secondly, is a static IP required ?

        Go on, a third then, is much bandwidth required ? Any calculations on this ? Or is it low enough that it's not worth thinking about..

Looking forward to running one or two, just not mad about Linux.. But if needs be, then so be it..

[bible_pay]

Two questions, actually turns out it was 3, about Sanctuaries..

        These are only Linux ? Or will there be a Windows solution to this ?

        And secondly, is a static IP required ?

        Go on, a third then, is much bandwidth required ? Any calculations on this ? Or is it low enough that it's not worth thinking about..

Looking forward to running one or two, just not mad about Linux.. But if needs be, then so be it..

Here is the guide again btw:
http://wiki.biblepay.org/Create_Sanctuary

They are linux only, primarily because the proof-of-service software we use only runs on linux.

No windows solution is currently scheduled, unless our stratis Proof-of-concept is really well received.  If it is, Ill port watchman-on-the-wall to c# so that then you can run a Pose-enabled biblepay node in c#.

Static ip is required, thats primarily why we recommend web hosts for this.  If your node fails to vote when its asked to you lose your sanctuary payment.

Very low bandwidth is required, only 10% more than a normal node, Except since you are a full PoSE node you would be servicing inbound connections, however these are split among all the nodes.  Im running one with 1023 connections and its taking 40kbps so its pretty low.  You can see the network graph in the qt wallet btw (Tools | Network Traffic).

[bible_pay]

Have you come across MUE? It needs something like 500,000 coins for a masternode which is quite a lot of cash (was, at least, before the price dropped a lot) and their service, mymue.com, which fractional shares for 10,000 coins.

Yeah, I see MUE.  It does simplify the whole idea.  It would be a lot simpler for the investors to only have to deal with the fractional share part of it.

Im kind of worried about all of the other related problems this particular service deals with however.  It requires me to hold cold wallet escrow somewhere outside of the pool, handle lease terminations, be responsible for outages, be responsible for fractional investments, be potentially viewed as a person who issues securities (IE what if someone views a fractional masternode as a share in an investment)?, and requires the software to be written and maintained.   (The big one for me is holding sanctuary related escrow in one concentrated place, its something I dont want to deal with).  The second biggest is if the maintenance of all of the moving parts of this system turn out to be as complicated as a PO/Project management system.

Im thinking this idea might take away from our core focus of adding gospel features in, and making the stratis proof of concept.

Sorry about that guys but I think Im going to have to deprioritize this one.  If you guys can come up with an IT solution among each other, you could have your own subdomain for this....

[bible_pay]

Im still waiting for c-cex to put us in maintenance, so we are in a holding pattern until they do this (regarding the timing of the mandatory upgrade).

[Suskoff]

Hi, what is the company about?

[bible_pay]

This is a good question. If someone had the required BBP, is it OK to run a masternode on a dedicated machine with a high speed internet connection?
I am far away from the required amount, but if I get there, I have an i5 PC running Ubuntu which is mining. It is connected via ethernet to a high-speed fiber connection. It has not gone down in the whole time I have been mining. Very reliable!

Vultr seem to be one of the more reliable server providers. I tested a few others and I found they had some downtime.

You can run your own sanctuary even on home dynamic IP, as long as its on linux running watchman on the wall, however you have two big risks:
1) If you do go down, you will lose your sanctuary payment, and if you fall out of the payment queue it might take 24 hours to get back in.
2) If your dynamic IP changes, you will have to re-create your whole sanctuary!  The Escrow is tied to the static IP.  <- This is a real pain...

[bible_pay]

Hi, what is the company about?

C-CEX is our exchange... Once they take us down we can work on our mandatory upgrade.

[bible_pay]

Hi, what is the company about?

C-CEX is our exchange... Once they take us down we can work on our mandatory upgrade.

Looks like we are in maintenance now.  Mandatory upgrade is on the way.  The block number is going to be approx 21350 with the goal being to test our masternode sync tomorrow night into Saturday morning, then receive masternode payments starting Sunday.  Once I know things are finalized then we can stay with this new version.

More info will be available soon.



 

[sharpshot]

Please keep working on new exchanges.  I'm a patient person but constantly seeing that short maintenance message with C-CEX has pushed me over the edge.  I'm cashing out, if the site is ever working long enough for me to use it.  Spent at least 90 minutes trying to do what it takes 2 minutes to do on any other exchange I use.  I'll use coinsmarkets for BBP, they have less volume but at least they're usable.

[bible_pay]

Hi, what is the company about?

C-CEX is our exchange... Once they take us down we can work on our mandatory upgrade.

Looks like we are in maintenance now.  Mandatory upgrade is on the way.  The block number is going to be approx 21350 with the goal being to test our masternode sync tomorrow night into Saturday morning, then receive masternode payments starting Sunday.  Once I know things are finalized then we can stay with this new version.

More info will be available soon.
 

The mandatory upgrade should be ready for windows in about 4 hours.  In the mean time could I get some linux nodes to upgrade?

Code:

BiblePay - 1.0.6.5 
Mandatory Upgrade

- F8000 (Proof-of-Bible-Hash) Starts at block #21350
- Sanctuaries go live at Block #21350
- Sanctuary payments go live at block #21551
- Superblocks start at block 30001
- Superblock are monthly
- Amazon integration (in wallet e-commerce) goes live at block 21350
- Proposals and Budgets go live at block 21551

Let's install a couple sanctuaries and ensure things are working....

[slovakia]

linux wallets is ready for update?
Rob why you didnt use escrow for list bbp to exchanges?