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Author Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)  (Read 237442 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (345 posts by 33 users deleted.)
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March 15, 2018, 10:49:38 PM
 #5221

"Were up to 1.1.1.1 now, please upgrade, then ensure system time and time zone is correct.

No addnodes required"

https://bitcointalk.org/index.php?topic=2388064.5280

//

Hey guys I still can not get a Synchronization.

I have 2 blue bars.
"Synchronizing with Network..."
Balance out of sync
Recent Transaction out of sync
Sanctuaries out of sync
5 Days Behind

Biblepay Core version 1.1.1.1 (64-bit)




Try a reindex:

In tools, Wallet repair, Rebuild index





It Worked Thank You!
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March 16, 2018, 01:53:46 AM
 #5222


One error in my typing / calc and I didn't want to edit it, was the 2nd example down to 20 Mag would still need 1M BBP to stake.

The reason I am hesitant to say "we'll change it down the road" is why?  Why not get it right or as close to right now?  That's why I think RAC is a slippery slope and Mag is not.  The only way to make RAC stake holding work to me is to adjust it down the line as the value of RAC drops and the hopefully the value of BBP increases.  Whereas with Mag, if you do it right now it becomes self correcting.  10% is basically 10% all the live long day, so in the above example, the 200K RAC at 2M could increase their RAC to 1M at 10M and remain at 10%, have the same staking requirements and receive the same percentile reward (although a smaller reward numerically in terms of BBP).  And it doesn't matter which way the price goes, 100 MAG would cost the same in raw numbers of BBP and have a generally similar return in price values (minus of course the depreciating emissions) regardless of if BBP drops back to 7/100th of a cent or jumps to 7 cents.  Whereas staking by RAC only succeeds in locking up more coins (a good thing at this point in the life of the coin, less valuable as time goes on) which is already being handily performed by the Sanctuaries and will continue to do so until probably we reach (my math) 400 or so (the Dev seems to think 200 is more realistic).   The boon of stake is the reduction in turnover of users.  Right now, a Gridcoin user is going to RAC for BBP if it is more cost effective the Gridcoin, and then immediately revert back based solely on the market and not his or her belief in the power of BBP.  Whereas adding a staking component, keeps the RAC more stable and less likely to shift, giving investors more dependable predictions in returns and likely keeping more BBP in the hands of those who believe in the coin (as I'm of the opinion a person collecting BBP because they think this is a unique coin that does good, will retain it longer than someone collecting BBP because it returns more $$ today than Gridcoin).

And none of that is a knock on Gridcoin users, some of which may come to us because of the reduction in their coin's influence at Rosetta@Home and find out they appreciate our mission and become ardent supporters.  Nor is it truly a knock on profit motivated miners.

For now, we're starting to really make waves in the ranking of teams at R@h, we just exceeded the overall work of Team Atheist (http://stats.free-dc.org/stats.php?page=team&proj=rah&team=2426), we're number 125 all time over all, and will likely be in the top 100 by the weekend and likely the top 50 of ALL TIME by Easter.  We are at almost 6M daily credits, which over time would mean a RAC of 6M.  We had the most daily credits of any team on R@H and did nearly 15% of all the work on R@H!   This is an incredible marketing tool to be utilized. 

Quote
Whereas with Mag, if you do it right now it becomes self correcting.  10% is basically 10% all the live long day, so in the above example, the 200K RAC at 2M could increase their RAC to 1M at 10M and remain at 10%, have the same staking requirements and receive the same percentile reward (although a smaller reward numerically in terms of BBP). 
I see what you are saying, but my argument against this is that the miner is doing nothing to help the price of biblepay in the process.  In this case, the miner increased their hardware to stay at the same MAG but has the same level of biblepay at stake.  This means that maintaining the same stake level, the miner did nothing to push the price of biblepay up because even as he increased machinery to stay at the same MAG, it doesn't influence the price, ergo the race to the bottom is still in. But if the miner staked based on RAC, at first 20*200K is 4M bbp increased to 20M bbp.  The idea is that the increasing stake amount directly leads to higher prices (or at least maintains prices), and ideally it leads to more profit.  

Look at it this way:

We know from history, pre- masternodes we traded 10-20 sat.  
We now have 169 masternodes which locks up 261,950169 bbp. Our Total Supply today is 467,630,665. So the percent of available supply locked up is 55%.  Our current lockup stats have got us trading higher at say 35 sat, consistently.

I understand right now the PODC rewards are higher than they will be, but just to simplify the calculations and get to my point, lets assume daily superblock rewards of 3,000,000.  So right now I have 80K RAC, I get about 100K reward, 17 servers with a team RAC of 2,400,000.  So 80K RAC/2.4M TEAM RAC=33.3 MAG.   1000 Total MAG/33.3 personal MAG=30, 30*100K bbp = 3M daily superblock for simplification.

I think a realistic scenario is that 1 year from now Team RAC is 24,000,000. It is an open question how quickly Team RAC will continue to grow, and how much people would put at stake.    

Here is what I believe is a realistic scenario:
|--------------------------------------------------------|  Current Statistics  |1 year from now|
|--------------------------------------------------------|----------------------|50%MN growth|
|Total Supply|467,630,665|1,453,130,665|
|Masternodes|169|254|
|Masternode lockup|261,950,169|392,925,254|
|MN lockup % Total Supply|0.56|0.27       <--1 year masternode lockup % of total supply drops to 27%!|
|Team RAC|2,400,000|24,000,000|
|Personal RAC|80,000|160,000|
|Personal MAG|33.333|6.667|
|Reward|100,000|16,000|
|Servers|17|34|
|Cost to Run Servers|8.16|16.32|
|Breakeven $|0.00008160|0.00102000|
|Amnt Stake per RAC (20)|1,600,000|3,200,000|
|Amnt Stake per MAG (10,000)|333,333.33|66,666.67|
|Team RAC Stake|48,000,000|480,000,000|
|Team MAG Stake|10,000,000|10,000,000|
|Total MAG|1,000|1,000|
|Annualized Reward Run Rate (Daily Rewardx365)|36,500,000|5,840,000|
|%Return on Stake of Annualized Run Rate (Run Rate/Stake Amnt)|2281%|183%|
|Total lockup SPR* and MN|309,950,169|872,925,254|
|Total Supply Free SPR and MN|157,680,496|580,205,412     <-3.68 times current free supply amount. Blessed |
|%Lockup of Total Supply SPR and MN|0.66|0.60                   to maintain sat price with 20 bbp stake per RAC |
||| We keep %Lockup of Total supply stable at .6|
|Total lockup SPM* and MN|271,950,169|402,925,254   |
|Total Supply Free SPM and MN|195,680,496|1,050,205,412    <-5.37 times the current free supply amount.|
|%Lockup of Total Supply SPM and MN|0.58|0.28  Maintain current sat price and avoid round trip to 10 sat? |
|Profit at 10 sat (BTC=10000)|91.84|-0.32|
|Profit at 20 sat |191.84|15.68|
|Profit at 30 sat |291.84|31.68|
|Profit at 40 sat |391.84|47.68|
|Profit at 50 sat |491.84|63.68|

*SPR: Stake per RAC
*SPM: Stake per MAG

It really does come down to keeping the % Total Lockup stable to try to ensure price stability.  Not staking per RAC may have the % Total Lockup as low as 28% in a year.
Even with lower rewards a year from now, the run rate of the daily rewards is a very respectable return relative to the amount at stake.  Being rewarded (16k*365)/3.2M is 183% on an annualized basis.  


I like the idea of being flexible and growing the aggregate stake amount.  There is no guarantee that stake based on MAG will grow fast enough to increase the total amount locked up. (For MAG to grow the aggregate stake, the network has to grow in fractional MAG users that stake meaningful amounts.) I believe we need to increase lockup from ~55% to 90% or better while our effusion is still at a high rate.  The biggest problem I have with stake based on MAG is that I don't like that the amount needed to stake for larger miners goes down as their MAG goes down--older, larger miners have a decrease in their stake.  I could see a scenario where lager miners lose MAG over time, their stake amount decreases, but fractional MAG entrants don't stake to get UTXO 100-- they aren't profit driven like the larger miners.  I like that larger miners are profit driven, and as part of that drive for profit they must hold or acquire more biblepay as they add more hardware.  

616Westwarmoth, please let me know your thoughts on this.
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March 16, 2018, 02:10:26 AM
 #5223

Just a Heads up guys, we are probably less than 2 weeks away from next superblock for Proposals!
(especially if 10 minute block time changes to 7 minutes)

If anyone wants to get paid for any work for BiblePay, please create a Proposal!

=====

How do I create a Proposal?
http://wiki.biblepay.org/Create_Sanctuary_2#SUBMIT_PROPOSAL

Do you have examples of past Proposals?
January/February: https://www.reddit.com/r/BiblePay/comments/7y4jw2/januaryfebruary_2018_proposal_summary/
December: https://www.reddit.com/r/BiblePay/comments/7mbeqf/december_2017_proposal_summary/

What kind of work could I do for BiblePay?
https://www.reddit.com/r/BiblePay/comments/7v0pxz/todo_list/
https://www.reddit.com/r/BiblePay/comments/7vtewk/proposals_of_other_masternode_coins/
(If you have any ideas please add them!)

=====

How many coins are in this months budget? ***Over 15 Million BBP!***

getgovernanceinfo
nextbudget: 15,375,000
nextsuperblock: 36900

I assume half will go to Compassion, that still leaves 7.5 million and only about 2 million are requested so far!

======

Understanding the Governance and Budget System
https://dashpay.atlassian.net/wiki/spaces/DOC/pages/8585240/Understanding+the+Governance+and+Budget+System


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March 16, 2018, 06:31:35 AM
 #5224

Currently, what calculation are we using to determine 100% UTXO Percentage? I've read conflicting things.
Is it still 50,001 BBP, or is it 500BBP/Mag?

I'm a bit confused by the different info floating around.
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March 16, 2018, 06:35:08 AM
 #5225

Currently, what calculation are we using to determine 100% UTXO Percentage? I've read conflicting things.
Is it still 50,001 BBP, or is it 500BBP/Mag?

I'm a bit confused by the different info floating around.

I think it's 500 BBP/mag WHEN the majority of masternodes update to the latest version. So I'm not sure if that has happened yet, but the update is mandatory in a couple of hundred blocks, so then it is for sure 500bbp/mag
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March 16, 2018, 08:28:42 AM
Last edit: March 16, 2018, 08:51:48 AM by dave_bbp
 #5226

Hey guys,

I just had an idea how to potentially raise the value of BBP. Maybe it's too early or too tricky to implement right now, but here it is:

Over the last couple of days our team quickly ploughed through the Rosetta teams and it won't be long until we are the number one team there. Maybe in the not so far future we will even provide the supermajority of the hash power for Rosetta@home.
Researchers are used to pay quite a lot of money for computational ressources (I know that because our research group does...). I don't know how it works for the groups using the Rosetta hash power (or BOINC in general), but how about (once we have a majority) we somehow "charge" small sums for our hash power?
Here's how this could work: a research team rents (maybe monthly or biannually) a certain, guaranteed amount of computational ressources from rosetta@home. It does so by buying BBP on an exchange and immediately burning those coins. This way we could 1) increase the knowledge about BBP, 2) increase the inherent value of the coin. The best "side effect" would be that every time this happens the funded children will get more (FIAT) money and it should in general be easier for Rob to obtain the dollars necessary for funding (since there will from time to time be larger sums in the bid).

I'm not sure if this is even possible to get working, of course the charged sums also should'nt really be high, but this just came to my mind. Wink

What do you all think about this?
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March 16, 2018, 09:27:56 AM
 #5227

Hey guys,

I just had an idea how to potentially raise the value of BBP. Maybe it's too early or too tricky to implement right now, but here it is:

Over the last couple of days our team quickly ploughed through the Rosetta teams and it won't be long until we are the number one team there. Maybe in the not so far future we will even provide the supermajority of the hash power for Rosetta@home.
Researchers are used to pay quite a lot of money for computational ressources (I know that because our research group does...). I don't know how it works for the groups using the Rosetta hash power (or BOINC in general), but how about (once we have a majority) we somehow "charge" small sums for our hash power?
Here's how this could work: a research team rents (maybe monthly or biannually) a certain, guaranteed amount of computational ressources from rosetta@home. It does so by buying BBP on an exchange and immediately burning those coins. This way we could 1) increase the knowledge about BBP, 2) increase the inherent value of the coin. The best "side effect" would be that every time this happens the funded children will get more (FIAT) money and it should in general be easier for Rob to obtain the dollars necessary for funding (since there will from time to time be larger sums in the bid).

I'm not sure if this is even possible to get working, of course the charged sums also should'nt really be high, but this just came to my mind. Wink

What do you all think about this?

The first two things that came into my mind when reading this were:

1. Biblepay is a project with a religious connotation, and I don't know if research groups would want to publicly attach themselves to a project like ours by buying our coins (because I assume they want to keep things like politics and religion separate from their - public - work).
2. Isn't the computational power we give to Rosetta@home really specific, in the sense that we are using algorithms that can't be applied in general computing applications?

🕇 BiblePay (BBP) | Reddit - Twitter - Forum - Discord | SouthXchange | Love one another, be a good Samaritan, help those in distress and spread the gospel 🕇
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March 16, 2018, 12:07:54 PM
 #5228

The first two things that came into my mind when reading this were:

1. Biblepay is a project with a religious connotation, and I don't know if research groups would want to publicly attach themselves to a project like ours by buying our coins (because I assume they want to keep things like politics and religion separate from their - public - work).
2. Isn't the computational power we give to Rosetta@home really specific, in the sense that we are using algorithms that can't be applied in general computing applications?

1. Ah yes, I know what you mean and I think you're right about that. Paying - even small amounts - of money to a somewhat religious organisation would definitely raise questions and for some might even be impossible. This could indeed be the major problem.
2. I'm not quite sure what you mean by that. I don't think that the Rosetta packages we solve differ in any aspect from any other Rosetta packages being solved.
In the end maybe we wouldn't even have to limit ourselves to Rosetta if there are other good projects dedicated to healing etc.
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March 16, 2018, 12:30:42 PM
 #5229

yeah but, everybody who was reading c-cex thred knows, that there is strong xvg holders group against c-cex. and they plan to do steps agains c-cex. so if i were aware of going maintenance early, i could  withdraw everything... when we turned to maintenance mode i still had 2 options, sell all bbp for low price and withdraw something else or wait... i was waiting because i just have enough for masternode... so now i must hope that ccex will goes up just to withdraw coins or so... but as we are still in maintenance i realy dont know ...
nevermind, going to mine harder than before Cheesy

I just read the rest of that train wreck thread on XVG-

https://bitcointalk.org/index.php?topic=418700.3720

Or at least pages 160-187 (where I left off last) and I must say its painful to read it.

Im sorry we have BBP caught up in the middle of this.  Lets pray our users can get it all out and they come back out of maintenance.

I hate to say it, but Im also having thoughts that we really need to jump on a couple new high quality exchanges as we need more reliability and integrity.




Hi Rob,
Have we tried poloniex yet?

https://poloniex.com/coinRequest
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March 16, 2018, 01:23:16 PM
 #5230

The hash rate is arround 110 Hash/s and the amount in the pool something between 0.6 and 1 BBP.
What do you mean by 0.6 to 1 BBP? What is the timeframe? do you mean 1 BBP per hour?
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March 16, 2018, 01:45:16 PM
 #5231

Currently, what calculation are we using to determine 100% UTXO Percentage? I've read conflicting things.
Is it still 50,001 BBP, or is it 500BBP/Mag?

I'm a bit confused by the different info floating around.

I think it's 500 BBP/mag WHEN the majority of masternodes update to the latest version. So I'm not sure if that has happened yet, but the update is mandatory in a couple of hundred blocks, so then it is for sure 500bbp/mag
This is the correct info; The state of the network has a temporary network setting of "500 bbp per magnitude" and it is now propagated to the supermajority - I see 67% of the network is using it.  Note that after block 35100, 100% will be forced to use it (as the cutover block enforces the variable network setting).

The current network does support BBP per RAC, but we are waiting for the poll outcome before the network setting can be changed.


🕇 BiblePay 🕇
🕇  Announcement | ForumSlackDiscordRedditTwitter | SouthXChange  🕇
🕇 A Christian cryptocurrency | Supporting orphans through a decentralized autonomous charity 🕇
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March 16, 2018, 01:53:11 PM
 #5232

The current network does support BBP per RAC, but we are waiting for the poll outcome before the network setting can be changed.

Will the staking amount be weighted, this is, if someone has only 50% of the BBP (whether it is by Mag. or RAC) he will get 50% reward, or is it on an all-or-nothing basis?
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March 16, 2018, 02:22:06 PM
 #5233

The current network does support BBP per RAC, but we are waiting for the poll outcome before the network setting can be changed.

Will the staking amount be weighted, this is, if someone has only 50% of the BBP (whether it is by Mag. or RAC) he will get 50% reward, or is it on an all-or-nothing basis?

Good question!  Yes its weighted, we will need to modify that weight breaks UTXO chart to reflect this:

First the sanctuary calculates a percentage of UTXOWeight/RequiredUTXOWeight (For example, 20,000 Received vs 30,000 Required) = 66.7% achieved.

Then it rounds up to the nearest 10% level (IE 70%).  Then it uses that system wide (this is so the sanctuaries have an easy time coming to consensus).

Note that a special rule exists for people with less than 5% UTXO - they are assessed at 0%.  So 0-4%= 0%, 5-10% = 10%.


🕇 BiblePay 🕇
🕇  Announcement | ForumSlackDiscordRedditTwitter | SouthXChange  🕇
🕇 A Christian cryptocurrency | Supporting orphans through a decentralized autonomous charity 🕇
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March 16, 2018, 03:32:47 PM
 #5234

Biblepay - 1.1.1.1
Mandatory Upgrade before block 35110
(for entire network)
Exchange Release Candidate


- Headless PODC Password support:
  ./biblepay-cli -headlesspodcpassword exec podcpasswordlength
  (Enter password on next line).
- Added icon in QT for PODC Association, and icon for PODC Update
- Prevent wallet from spending Sanctuary collateral during PODC Update
- Add support for Required Stake-Per-RAC pending poll outcome

How to Update Wallets:
https://www.reddit.com/r/BiblePay/comments/7nmvm8/how_to_update_clean_wallets/

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March 16, 2018, 06:01:11 PM
 #5235

Just a Heads up guys, we are probably less than 2 weeks away from next superblock for Proposals!
(especially if 10 minute block time changes to 7 minutes)

If anyone wants to get paid for any work for BiblePay, please create a Proposal!

=====

How do I create a Proposal?
http://wiki.biblepay.org/Create_Sanctuary_2#SUBMIT_PROPOSAL

Do you have examples of past Proposals?
January/February: https://www.reddit.com/r/BiblePay/comments/7y4jw2/januaryfebruary_2018_proposal_summary/
December: https://www.reddit.com/r/BiblePay/comments/7mbeqf/december_2017_proposal_summary/

What kind of work could I do for BiblePay?
https://www.reddit.com/r/BiblePay/comments/7v0pxz/todo_list/
https://www.reddit.com/r/BiblePay/comments/7vtewk/proposals_of_other_masternode_coins/
(If you have any ideas please add them!)

=====

How many coins are in this months budget? ***Over 15 Million BBP!***

getgovernanceinfo
nextbudget: 15,375,000
nextsuperblock: 36900

I assume half will go to Compassion, that still leaves 7.5 million and only about 2 million are requested so far!

======

Understanding the Governance and Budget System
https://dashpay.atlassian.net/wiki/spaces/DOC/pages/8585240/Understanding+the+Governance+and+Budget+System

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March 16, 2018, 06:08:43 PM
 #5236

Evolution Demo #1 - The First Dash DAP
https://www.youtube.com/watch?v=gbjYhZT2Ulc

Interesting, sounds like Dash patented Evolution, and this is their first demo
https://www.dashforcenews.com/dash-core-files-defensive-patents-for-evolution-platform-releases-demo-ahead-of-late-2018-release/

Dash Evolution: https://www.dash.org/evolution/
Roadmap: https://github.com/dashpay/dash-roadmap/blob/master/README.md
Wiki: https://dashpay.atlassian.net/wiki/spaces/DOC/pages/39583757/Evolution

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March 16, 2018, 08:22:09 PM
 #5237



Biblepay Development team still looking for Blockchain Devs, please send an e-mail to contact@biblepay.org if you are a bona-fide blockchain dev with github commits and are interested in helping to extend God's Kingdom through the blockchain.


🕇 BiblePay 🕇
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🕇 A Christian cryptocurrency | Supporting orphans through a decentralized autonomous charity 🕇
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March 16, 2018, 09:49:17 PM
 #5238

April from BLOOM just got back from Sierra Leone Africa mission trip and part of her objective was to integrate the new BiblePay BLOOM orphans, and check out these amazing pictures she brought back:







https://biblepaysponsorkids.tumblr.com/post/171897500699/thank-you-bible-pay-the-children-in-uganda-have

https://biblepaysponsorkids.tumblr.com/post/171897500699/thank-you-bible-pay-the-children-have-been/embed


Bloom Newsletter Africa:
https://pool.biblepay.org/SAN/Mission/BloomNewsletter.pdf


🕇 BiblePay 🕇
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🕇 A Christian cryptocurrency | Supporting orphans through a decentralized autonomous charity 🕇
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March 16, 2018, 10:09:17 PM
 #5239


Thanks Togo - I enjoyed watching it.

Looks like we have plenty of integration projects for Biblepay.



🕇 BiblePay 🕇
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🕇 A Christian cryptocurrency | Supporting orphans through a decentralized autonomous charity 🕇
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March 16, 2018, 10:12:55 PM
 #5240

I emailed Criss Angel today and told him about Biblepay, and asked him to get saved.  I told him he can live on his PR budget for the rest of his life and spread the gospel, and give up his Vegas show.


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