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

[tiras]

looks like still no masternode reward

We are analyzing in slack, everything looks OK.

The way it works is each ENABLED Sanctuary has a right to vote for itself.
So far 282 votes have been cast and there has to be a quorum of 10 sanctuaries to approve a payment.  So this could take a while.

We just read a message that the Sancs cleared out 35 blocks of prior voting, so I believe everything is moving smoothly toward payments.

I audited blocks 21600-21605 and so far, no payments have been attempted.

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?

Each Sanctuary is not 100% guaranteed a payout each round but it is a high likelyhood, probably around 95%. In some other masternode coins I have been in that got quite popular, there was some blocks that I indeed was unlucky mathematically and did not recieve a reward. It does result in an equitable distribution over time.

thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

[bible_pay]

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?



thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

So in addition to what JC said, we need 10+ votes for a payment "quorum", so once those numbers hit over 10 we should see payments start.

As far as "luck" of winning the spot, we are using an algorithm where the nodes rank is determined by how close its vin is to the blockhash its voting on, so its really luck.

Yes, pre-enabled means no chance of winning the vote, as the sanctuary is not trusted yet.

I just sent alex an instantsend in about 10 seconds, it was very very sweet.

[webster22]

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?



thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

So in addition to what JC said, we need 10+ votes for a payment "quorum", so once those numbers hit over 10 we should see payments start.

As far as "luck" of winning the spot, we are using an algorithm where the nodes rank is determined by how close its vin is to the blockhash its voting on, so its really luck.

Yes, pre-enabled means no chance of winning the vote, as the sanctuary is not trusted yet.

I just sent alex an instantsend in about 10 seconds, it was very very sweet.

How will these new payments to masternodes affect non masternode people?
Will we get less shares as a result?

[bible_pay]

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?



thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

So in addition to what JC said, we need 10+ votes for a payment "quorum", so once those numbers hit over 10 we should see payments start.

As far as "luck" of winning the spot, we are using an algorithm where the nodes rank is determined by how close its vin is to the blockhash its voting on, so its really luck.

Yes, pre-enabled means no chance of winning the vote, as the sanctuary is not trusted yet.

I just sent alex an instantsend in about 10 seconds, it was very very sweet.

How will these new payments to masternodes affect non masternode people?
Will we get less shares as a result?

Yes- they take 40% of every block.

[webster22]

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?



thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

So in addition to what JC said, we need 10+ votes for a payment "quorum", so once those numbers hit over 10 we should see payments start.

As far as "luck" of winning the spot, we are using an algorithm where the nodes rank is determined by how close its vin is to the blockhash its voting on, so its really luck.

Yes, pre-enabled means no chance of winning the vote, as the sanctuary is not trusted yet.

I just sent alex an instantsend in about 10 seconds, it was very very sweet.

How will these new payments to masternodes affect non masternode people?
Will we get less shares as a result?

Yes- they take 40% of every block.

So shares reported in 'My Leaderboard' is before or after that?
The mining credit is that the real share given or 40% of that?

[bible_pay]

Rob,
 does it mean "masternode winners" command  shows wining nodes ahead of the actual payouts  ?

If node is "pre enabled"   does it take part in voting and has a chance to win?

Is it statistically fair in the long run and gives all nodes equal payouts in the long run ?



thanks JC ,  I'm completely new to this . 

so "pre enabled"  nodes are out of the game , aren't they?

So in addition to what JC said, we need 10+ votes for a payment "quorum", so once those numbers hit over 10 we should see payments start.

As far as "luck" of winning the spot, we are using an algorithm where the nodes rank is determined by how close its vin is to the blockhash its voting on, so its really luck.

Yes, pre-enabled means no chance of winning the vote, as the sanctuary is not trusted yet.

I just sent alex an instantsend in about 10 seconds, it was very very sweet.

How will these new payments to masternodes affect non masternode people?
Will we get less shares as a result?

Yes- they take 40% of every block.

So shares reported in 'My Leaderboard' is before or after that?
The mining credit is that the real share given or 40% of that?

Everything in the pool stays the same, but a Pre-Sanctuary block was 18,000 BBP, and a Post sanctuary block is 9,000 or so.

So you will see in block distribution, a lower payment realized based on Blocks Solved by the Pool that are Lower in total subsidy.

[YourMom420]

Fresh linux install gets error loading block database. Do you want to rebuild the block detabasenow? Y/n doesnt do anything

[webster22]

Everything in the pool stays the same, but a Pre-Sanctuary block was 18,000 BBP, and a Post sanctuary block is 9,000 or so.

So you will see in block distribution, a lower payment realized based on Blocks Solved by the Pool that are Lower in total subsidy.

Okay sorry I do not understand with all that jargon in the way.

Lets say I am making 100 shares total in 'my leaderboard'

Then in Reports > Transaction History I see a payment of 50 .

It will then still report these numbers? Or 40% off that. Very confusing.

[togoshigekata]

Fresh linux install gets error loading block database. Do you want to rebuild the block detabasenow? Y/n doesnt do anything

Check the instructions for the Cleanup section for this upgrade:
https://www.reddit.com/r/BiblePay/comments/7kg5nj/mandatory_upgrade_v1068/

[bible_pay]

Fresh linux install gets error loading block database. Do you want to rebuild the block detabasenow? Y/n doesnt do anything

You could do yes, or just :
rm blocks -R
rm chainstate -R
Restart

Thanks for supporting us

[bible_pay]

Everything in the pool stays the same, but a Pre-Sanctuary block was 18,000 BBP, and a Post sanctuary block is 9,000 or so.

So you will see in block distribution, a lower payment realized based on Blocks Solved by the Pool that are Lower in total subsidy.

Okay sorry I do not understand with all that jargon in the way.

Lets say I am making 100 shares total in 'my leaderboard'

Then in Reports > Transaction History I see a payment of 50 .

It will then still report these numbers? Or 40% off that. Very confusing.

Forget that shares terminology, that stays the same.
Click on Reports | Block distribution, and look at one of your payments.

Realize that in the future, that total block subsidy is going to be about half.

[616westwarmoth]

https://coinsmarkets.com/trade-BTC-BBP.htm

Is anyone else being directed to the litecoin trade page from this BBP market link? What an odd error.

For those that want to follow their own link and dont want to click mine, go to coinmarketcap and select the other BBP market.

Both markets are down for the mandatory wallet upgrade and won't be back until the "all clear" is sounded.

I'd wager that any coin in maintenance mode probably redirects to the BTC-LTC pairing, would be far more helpful if it said "in Maintenance" or the like.

[webster22]

https://coinsmarkets.com/trade-BTC-BBP.htm

Is anyone else being directed to the litecoin trade page from this BBP market link? What an odd error.

For those that want to follow their own link and dont want to click mine, go to coinmarketcap and select the other BBP market.

Both markets are down for the mandatory wallet upgrade and won't be back until the "all clear" is sounded.

I'd wager that any coin in maintenance mode probably redirects to the BTC-LTC pairing, would be far more helpful if it said "in Maintenance" or the like.

Any guesses what will happen when it re-opens? Going to be a lot of coins mined looking to sell...

[616westwarmoth]

Any guesses what will happen when it re-opens? Going to be a lot of coins mined looking to sell...

Couple guesses.  If MNs work like they should (and I've got every confidence will) then you'll likely see the price increase.  Those who are short a few thousand or few hundred thousand will look and see the ROI (probably being in the triple digits for a short time) and think "it's OK to overpay for the 20K I need so I can get that ROI on the other 98% of the coins I already own".  That would likely drive the price above what it's intrinsic value is (and what THAT is, is very hard to quantify).   With an increase in price, you'd get a few more sellers and probably hit an equilibrium then you'd see some profit takers sell off and a back and forth activity.

The other guess is MN won't be quite as stable as we hope, in which case the price would likely fall as some of the value is dependent on the idea MN work.  So anything short of a stable MN product might shake the confidence of the market.

Medium term, I'd guess that as long as a MN is less than $5000 (and are stable and reasonably straightforward to set up) and the ROI is in the high double digits, you'll see a decent amount of movement into the coin in the markets buying to field MNs.  Then if the price exceeds $10,000, I'd wager the preponderance of new nodes would be miners/MN Owners invested versus people buying in.  But it all will depend on the ROI (and to some extent how stable crypto as a whole is over the next three to six months).

Personally, my plan is to reinvest my mined/MN'd coins into additional MN's as I can, because I think the coin has a long future ahead of it.  The price per coin would have to be pretty high for me to start taking much off the table and not just reinvesting.  And really, that's kind of my impression of what happened with DASH's early adopters.  They ran a MN, saved the proceeds, the price went up, they bought another, the price went up and eventually they started selling when the price got above their magic price point of it being "really high".

I would wager that most of the coins that hit the market will be from the Orphan Fund and any other expenses that need to be paid in non-BBP, with miners probably supplying most the rest.   But that's just all a guess.

[seasonw]

I saw my masternode address in the "masternode winners" command, but did not receive payment even the block passed. No immature amount too in my wallet. How long will it take to reach my wallet?

[seasonw]

I saw my masternode address in the "masternode winners" command, but did not receive payment even the block passed. No immature amount too in my wallet. How long will it take to reach my wallet?

The Masternode reward will be implemented after a specific block. It's upcoming.

I thought masternode payment is started?

looks like still no masternode reward

We are analyzing in slack, everything looks OK.

The way it works is each ENABLED Sanctuary has a right to vote for itself.
So far 282 votes have been cast and there has to be a quorum of 10 sanctuaries to approve a payment.  So this could take a while.

We just read a message that the Sancs cleared out 35 blocks of prior voting, so I believe everything is moving smoothly toward payments.

I audited blocks 21600-21605 and so far, no payments have been attempted.

Maybe we must vote for payment?

[Kets_One]

Fresh linux install gets error loading block database. Do you want to rebuild the block detabasenow? Y/n doesnt do anything

Hey Guys,

Im running the Docker version (by gagaha, https://hub.docker.com/r/gagaha/biblepay/, which autocompiles from the source) from linux command line.
After upgrading to 1.0.6.8b it does load upto block xxx, but im getting the following error a number of times:
"CMasterNodeBlockPayees:: IsTransactionValid -- ERROR: Missing required payment, possible payees: ....."

Any idea?
Will cleaning up the install help?
How do i do this in a docker volume?

[nerf-herder]

So, I left my box synching yesterday. 8 hrs behind. Today, I walk in, it hasn't moved at all. So I exit the sw and reloaded. Now I am 24 hours behind in the synch. With no other activity/ At least I am seeing peers now. What now?

[zurg]

So, I left my box synching yesterday. 8 hrs behind. Today, I walk in, it hasn't moved at all. So I exit the sw and reloaded. Now I am 24 hours behind in the synch. With no other activity/ At least I am seeing peers now. What now?

I deleted everything but my wallet file and config file.
Modified config file to include:
addnode=node.biblepay-explorer.org

After that it synced right up.

[bible_pay]

I thought masternode payment is started?


Maybe we must vote for payment?

We are already in the masternode payment season, so I have to assume we dont have enough votes yet for the first payment.

I just audited the chain to the tip and no one has been paid yet.

Looking at masternode winners, I see a few 10's in there.  Our governance min quorum is 10 (see getgovernanceinfo).

The nodes auto-vote for themselves for payment, so that is not a problem.  The votes are definitely working, as we see them in slack.

Ill do a little poking around in the next hour to see if we need 11 votes or not.