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

[aikida3k]

I agree that we need to attract more followers
The idea of paper wallets sounds good - but why only paper?
Why not offer a sign-up bonus on the web site - say 100-500 BBP for those who make the effort to download and run a mining wallet for xx days;
Also spread the word on forum / chats / etc
Any marketing is good for BBP
PM

The issue with free BBP is it becomes a lot of work to avoid people cheating.  And I'd be really surprised if the rate-of-retention (users still involved after a period) was better than 1% after four weeks time.  So having a system in place to help retain is good.  That's why, for the expense, I would rather see something like coin listings or other major development which will bring eyeballs to the coin.

That's why with distributed paper wallets with 5 bbp each, they either get interested and look into it or it acts as a burn.

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[aikida3k]

I agree that we need to attract more followers
The idea of paper wallets sounds good - but why only paper?
Why not offer a sign-up bonus on the web site - say 100-500 BBP for those who make the effort to download and run a mining wallet for xx days;
Also spread the word on forum / chats / etc
Any marketing is good for BBP
PM

You're right, znffal, I went ahead and changed the original post.  

So I just wanted to say that it sounds like you have some great ideas and that you should consider putting in a proposal into the PR section of the monthly budget.

Thanks for the encouragement!  I'm looking for someone to work with right now; I don't want to say I'll do it, take the BBP for the proposal and not have a deliverable for a long time.  The one idea is combining the bbp faucet with paper wallet generator, and I'm not yet sure how to integrate those two in order to generate say 1,000 unique bbp paper wallet addresses and have the faucet deposit 5 bbp in each address with instructions of how to find Biblepay online, and what our purpose is.  As an aside, I'm restudying C++ that I took in college to brush up and to at least be able to understand and audit some of the code better.  Not much of anything more ambitious but perhaps eventually I could work on the paper wallet faucet if no one else steps up. Thanks again.

The reason behind paper wallets with 5 bbp each is to actually go to churches and hand out the Biblepay after church.  Churches will have lots of people who normally wouldn't be interested in cryptocurrencies, and when you communicate with them all of the good things that Biblepay does in the real world, they suddenly may become interested.  My point in posting the "Bitcoin OG Twitter Accounts"  was to show the basic lack of Christian principals of those twitter accounts.  I believe Christians are late adopters and not early adopters to cryptocurrencies.  

Here is a list of twitter "Bitcoin OGs" ,these are the people that when they tweet your coin, they can move markets:


@notsofast
@dum
@growdigi
@woonomic
@needacoin
@mansa_godson
@crypt0biwan
@cryptomocho
@marsmensch
@whalepanda
@thisisnuse
@moonoverlord
@dennahz
@coin_shark
@coinyeezy
@socal_crypto
@bitcoin_dad
@cryptobanger
@crazy_crypto
@anambroid
@crypto_god
@secretsofcrypto
@cryptostardust

Look at their names and look at their posts.  How interested do you think they would be in a Christian based Charity coin?  This is the way most people in crypto think and these guys are constantly gaining followers.  This is why, from the beginning, since I have found this coin, I have thought that this coin will need to find people through churches and take people in churches to teach them the ins of crypto in order to become a great success.  This coin attracts miners; it is a profitable CPU coin to mine, but to be a big success, in order to get the 10x or more that Jaavgpk talks about, we need more demand.

[jaapgvk]

I absolutely agree with you, but I don't like it that you keep implying that I say things that I obviously don't. I never said that we should only concentrate on increasing the mining base.

I am actually with you on the shilling, and I said that you had some good ideas. I actually made a proposal to actively go out and shill.

I was just saying that CURRENTLY probably most of our (potential) users are miners, and that these miners are also people that can potentially do very good things to the project (not as miners, but as contributors to the project in intellectual ways).

We need both obviously. I am only thinking about how we can achieve the MOST user adaptation, and how we can have the most fair distribution of coins. And I think that large part in having a good coin-distribution lies in having a LOT of miners from the start, competing for BBP.  

I actually bought a HP Proliant DL380 G5 for 50 Euro's. Got about 8K RAC out of it, which was quite nice. I have now stopped all mining btw.

I am looking at the demand from the current mining base and investors and what I see is not good: there is currently less than 1 BTC on the buy side, on the demand.  That is bad.  Is increasing the mining base your solution for increasing the demand?  I don't think that is viable.  More miners will come with higher prices, it's pretty much a given.  But the current problem is how to get higher prices CONSISTENTLY?  Because we don't pump and stay there, I believe it is in the coin's best interest to leave the current staking requirement where it is and instead concentrate on getting people to see reasons why they would want to own Biblepay.  I believe working through churches is a part of that.

Nice find on your G5!

You're a nicer and more generous guy than I am.

Thanks

Increasing both mining base AND non-miner investors is obviously the path with the most change of succeeding. Lowering the staking-requirements will probably move the market in a negative way short-term, since a lot of BBP will become unlocked. But still I think that if we started with a lower BBP/RAC requirement, we would now have more miners on board.

I agree with your idea about working through churches for example. We REALLY need that. I'm for all kinds of exposure! That's why I really pushed on getting a 'bigger' website, with a blog and lots of information/manuals. That's also why I helped Habib organizing his tour in Ghana, and why I am currently working on a potentially great way to get more investors on board (but I can't really release any information on that right now).

So from what I understand, here is our disagreement: You believe that lowering the staking requirement will incentivize more miners to mine, which in turn they will buy Biblepay to stake.  You believe there is an optimum level of staking to draw miners in and buy Biblepay.  And you want to work on getting investor interest in the coin.

Whereas I believe increasing the miners without increasing the price will lead to lower miner rewards.  I believe that we should work with our current stake level and instead concentrate on investor interest in the coin because of the reason that we have greater than 75% of total supply locked up.  I believe that the best way to show success is by watching the demand on the buy side of the coin increase.  And once that milestone has been met, then we could talk about lowering staking requirements.  I really do believe we should wait for consistently higher prices and consistently higher demand before we lower staking requirements.

That is the crux of our debate.

Well, I actually believe in a hybrid of what you're saying:
I believe that lowering the staking requirement will incentivize more miners to mine.
I believe thus that lowering the staking requirement will bring us more users.
I believe increasing the miners without increasing the price will lead to lower miner rewards.
I believe increasing the user base will increase the price.
I believe that we need some shilling.

I don't think that lower per miner rewards are a bad thing per se: it's a sign of more competition/adoption, and thus a more even distribution of coins. It's basically how capitalism works.

If people believe in the project long-term, they will mine even with low rewards (see Bitcoin, that's all mining on the margin). If they are just here for short-term profit, I don't care if they leave.

Capitalism works based on incentives.  The greater the opportunity for profit, the more risk, in general, one is willing to take.  Bitcoin doesn't have low rewards.  When Bitcoin was $1,000 and the reward was 25 per block the total reward was $25,000 per block (the price and rewards collapsed down to 25*$200 or $5,000 per block).  Now at 12.5 per block and $9,000 the reward is $22,500.  The rewards and miner profitability can be stewarded by keeping the stake level and shilling even with lower block rewards.

I was talking in terms of ROI. The ROI of BiblePay is very good at the moment, not so much for BTC. That's what I meant with capitalism:  lots of competition coupled with survival of the most adaptable. That is what has driven ASIC-development for example.

[jaapgvk]

I agree that we need to attract more followers
The idea of paper wallets sounds good - but why only paper?
Why not offer a sign-up bonus on the web site - say 100-500 BBP for those who make the effort to download and run a mining wallet for xx days;
Also spread the word on forum / chats / etc
Any marketing is good for BBP
PM

You're right, znffal, I went ahead and changed the original post.  

So I just wanted to say that it sounds like you have some great ideas and that you should consider putting in a proposal into the PR section of the monthly budget.

Thanks for the encouragement!  I'm looking for someone to work with right now; I don't want to say I'll do it, take the BBP for the proposal and not have a deliverable for a long time.  The one idea is combining the bbp faucet with paper wallet generator, and I'm not yet sure how to integrate those two in order to generate say 1,000 unique bbp paper wallet addresses and have the faucet deposit 5 bbp in each address with instructions of how to find Biblepay online, and what our purpose is.  As an aside, I'm restudying C++ that I took in college to brush up and to at least be able to understand and audit some of the code better.  Not much of anything more ambitious but perhaps eventually I could work on the paper wallet faucet if no one else steps up. Thanks again.

The reason behind paper wallets with 5 bbp each is to actually go to churches and hand out the Biblepay after church.  Churches will have lots of people who normally wouldn't be interested in cryptocurrencies, and when you communicate with them all of the good things that Biblepay does in the real world, they suddenly may become interested.  My point in posting the "Bitcoin OG Twitter Accounts"  was to show the basic lack of Christian principals of those twitter accounts.  I believe Christians are late adopters and not early adopters to cryptocurrencies.  

Here is a list of twitter "Bitcoin OGs" ,these are the people that when they tweet your coin, they can move markets:


@notsofast
@dum
@growdigi
@woonomic
@needacoin
@mansa_godson
@crypt0biwan
@cryptomocho
@marsmensch
@whalepanda
@thisisnuse
@moonoverlord
@dennahz
@coin_shark
@coinyeezy
@socal_crypto
@bitcoin_dad
@cryptobanger
@crazy_crypto
@anambroid
@crypto_god
@secretsofcrypto
@cryptostardust

Look at their names and look at their posts.  How interested do you think they would be in a Christian based Charity coin?  This is the way most people in crypto think and these guys are constantly gaining followers.  This is why, from the beginning, since I have found this coin, I have thought that this coin will need to find people through churches and take people in churches to teach them the ins of crypto in order to become a great success.  This coin attracts miners; it is a profitable CPU coin to mine, but to be a big success, in order to get the 10x or more that Jaavgpk talks about, we need more demand.

I think you're right about 5 BBP being a good amount for those paper wallets. It's worth virtually nothing, so no one is going to game that. But wat it will do, is - hopefully - spark interest.

@Dimarzio123: the airdrop-idea I had was basically something like you suggested: https://forum.biblepay.org/index.php?topic=120.0 If anyone has more idea's, please post it there.

Also, I'm making a bounty-page for the website. So any input on that is also appreciated. If anyone makes a proposal for a bounty that gets approved, I'll make sure it gets on the website (signature campaign, airdrop, etc).

[616westwarmoth]

The reason behind paper wallets with 5 bbp each is to actually go to churches and hand out the Biblepay after church.  Churches will have lots of people who normally wouldn't be interested in cryptocurrencies, and when you communicate with them all of the good things that Biblepay does in the real world, they suddenly may become interested.  My point in posting the "Bitcoin OG Twitter Accounts"  was to show the basic lack of Christian principals of those twitter accounts.  I believe Christians are late adopters and not early adopters to cryptocurrencies.  

Actually this is very good thinking.  You could make a trifold "tract", showing our mission and web details and then including the paper wallet with 5 or 10 BBP.  Communicate with the mega churches (where you're more likely to find tech savvy individuals), find out if any of them support Compassion, then target those to see if they would include the tract in the weekly bulletin and possibly speak 30 seconds about it.  You'd end up sending out 100,000 BBP to potentially reach 10 to 20 thousand individuals, it's very hard to game and likely 50% or more will be thrown away and that effectively burns the currency.

[noxpost]

The reason behind paper wallets with 5 bbp each is to actually go to churches and hand out the Biblepay after church.  Churches will have lots of people who normally wouldn't be interested in cryptocurrencies, and when you communicate with them all of the good things that Biblepay does in the real world, they suddenly may become interested.  My point in posting the "Bitcoin OG Twitter Accounts"  was to show the basic lack of Christian principals of those twitter accounts.  I believe Christians are late adopters and not early adopters to cryptocurrencies.  

Actually this is very good thinking.  You could make a trifold "tract", showing our mission and web details and then including the paper wallet with 5 or 10 BBP.  Communicate with the mega churches (where you're more likely to find tech savvy individuals), find out if any of them support Compassion, then target those to see if they would include the tract in the weekly bulletin and possibly speak 30 seconds about it.  You'd end up sending out 100,000 BBP to potentially reach 10 to 20 thousand individuals, it's very hard to game and likely 50% or more will be thrown away and that effectively burns the currency.

Hmm. I attend a 3-campus church with weekly membership >5000. I would assume in our demographic it'd be more like 80% thrown away, and that's even if you make people come and get them. But 5 BBP is what? Less than 2 cents...real savvy crypto people are not going to be swayed by that amount - so it's message or nothing. People who are "curious" but confused - it could work...but we need some way to automatically configure/start BOINC PODC during wallet setup. Most casual users aren't going to go through a process this complex.

[aikida3k]

The reason behind paper wallets with 5 bbp each is to actually go to churches and hand out the Biblepay after church.  Churches will have lots of people who normally wouldn't be interested in cryptocurrencies, and when you communicate with them all of the good things that Biblepay does in the real world, they suddenly may become interested.  My point in posting the "Bitcoin OG Twitter Accounts"  was to show the basic lack of Christian principals of those twitter accounts.  I believe Christians are late adopters and not early adopters to cryptocurrencies.  

Actually this is very good thinking.  You could make a trifold "tract", showing our mission and web details and then including the paper wallet with 5 or 10 BBP.  Communicate with the mega churches (where you're more likely to find tech savvy individuals), find out if any of them support Compassion, then target those to see if they would include the tract in the weekly bulletin and possibly speak 30 seconds about it.  You'd end up sending out 100,000 BBP to potentially reach 10 to 20 thousand individuals, it's very hard to game and likely 50% or more will be thrown away and that effectively burns the currency.

Hmm. I attend a 3-campus church with weekly membership >5000. I would assume in our demographic it'd be more like 80% thrown away, and that's even if you make people come and get them. But 5 BBP is what? Less than 2 cents...real savvy crypto people are not going to be swayed by that amount - so it's message or nothing. People who are "curious" but confused - it could work...but we need some way to automatically configure/start BOINC PODC during wallet setup. Most casual users aren't going to go through a process this complex.

The idea isn't to turn them into miners, but into buyers: People who want to accumulate Biblepay over time as an investment for their future, all the while doing the actual work of supporting the orphans by buying and supporting the price of Biblepay.  The idea is to get total newbies interested in Biblepay, not people already crypto savvy.  The real crypto savvy people aren't interested in a Christian Charity coin.  That was the point of the previous post about the Bitcoin Twitter OGs. 

[inblue]

Now at 12.5 per block and $9,000 the reward is $22,500.

You mean $112,500

Regarding the gift cards, here is how a competitor coin plans to do it:



I agree that for people in the crypto world that would be ineffective, but for everyone else I think 5 BBP will seem meaningful because they naturally see value in dollars since it's so deeply ingrained into their brains (and our brains, still), so the number 5 seems like $5. It's stupid, but maybe it works, because it would not seem outrageous to be gifted a $5 gift card from someone. And although something like 100 BBP is still only 30 cents, I think it's better not to use larger numbers, because who would gift you $100? But I fear some people may be disappointed when they find out that 5 BBP is only 1 cent.

[znffal]

Now at 12.5 per block and $9,000 the reward is $22,500.

You mean $112,500

Regarding the gift cards, here is how a competitor coin plans to do it:



I agree that for people in the crypto world that would be ineffective, but for everyone else I think 5 BBP will seem meaningful because they naturally see value in dollars since it's so deeply ingrained into their brains (and our brains, still), so the number 5 seems like $5. It's stupid, but maybe it works, because it would not seem outrageous to be gifted a $5 gift card from someone. And although something like 100 BBP is still only 30 cents, I think it's better not to use larger numbers, because who would gift you $100? But I fear some people may be disappointed when they find out that 5 BBP is only 1 cent.

My feeling is that 1 cent is a waste of time. My opinion is that $1 is what we should aim for a giveaway paper wallet.
Remember that we don't necessarily need to do it all in one month. We could do different campaigns over different superblocks.
But I also realise that you were thinking of other methods of distributing the coin for promotion.
But 5 BBP seems very low to me.

[Lichtsucher]

I noticed some funky values for BiblePay on CoinMarketCap:
https://coinmarketcap.com/currencies/biblepay/
It looks like Lich BiblePay Central Explorer might be reindexing?
https://explorer.biblepay-central.org/

Yes, my Explorer is still indexing. Which is weird, as it does this for 3 days now. It is really slow, but the system is idling a lot. It imports around 1 transaction per second, which might take a long time until it is done, but I can't find a problem. Except that it is slow.

Does anybody has an idea?

Info: I just added http://explorebiblepay.com/ to biblepay-central.
BUT: We should really try to make all explorer HTTPS only. It simply looks way better then plain http for a crypto website

By the way, http://explorer.biblepay.org:3001/ is stuck, too, for some hours.

[noxpost]

I noticed some funky values for BiblePay on CoinMarketCap:
https://coinmarketcap.com/currencies/biblepay/
It looks like Lich BiblePay Central Explorer might be reindexing?
https://explorer.biblepay-central.org/

Yes, my Explorer is still indexing. Which is weird, as it does this for 3 days now. It is really slow, but the system is idling a lot. It imports around 1 transaction per second, which might take a long time until it is done, but I can't find a problem. Except that it is slow.

Does anybody has an idea?

Info: I just added http://explorebiblepay.com/ to biblepay-central.
BUT: We should really try to make all explorer HTTPS only. It simply looks way better then plain http for a crypto website

By the way, http://explorer.biblepay.org:3001/ is stuck, too, for some hours.

Hmm - is the machine reasonably busy? Maybe try renice-ing the index job, and ensuring that you aren't doing a lot of swapping out of the mongodb back and forth? What is the system doing when the index job is idling?

As for the HTTPS - you are probably right, I suppose. I'll add that to my todo list.

[lalexcross]

Gents, hello...

A question, why the magnitude going down every payment ?

Cheers
Ale

[thesnat21]

Rob,

What does "HIGH_HASH" error mean on the biblepay pool?

[slovakia]

Gents, hello...

A question, why the magnitude going down every payment ?

Cheers
Ale

cos whales adding new machines=  magnite 100% = 1000 ... when ill add next 20 64cores machines, my magnitude will be raising and your falling, my rewards will be better like your 

[aikida3k]

Now at 12.5 per block and $9,000 the reward is $22,500.

You mean $112,500

Regarding the gift cards, here is how a competitor coin plans to do it:

https://i.imgur.com/p8xWb53.jpg

I agree that for people in the crypto world that would be ineffective, but for everyone else I think 5 BBP will seem meaningful because they naturally see value in dollars since it's so deeply ingrained into their brains (and our brains, still), so the number 5 seems like $5. It's stupid, but maybe it works, because it would not seem outrageous to be gifted a $5 gift card from someone. And although something like 100 BBP is still only 30 cents, I think it's better not to use larger numbers, because who would gift you $100? But I fear some people may be disappointed when they find out that 5 BBP is only 1 cent.

Yes, I did mean $112,500.  You caught me being a calculator jockey and I changed the post and gave you credit.  

I am curious if they are open sourcing their software to make the gift cards?  The way I see it, you would need a modified wallet and a modified paper wallet generator.  The modified wallet would take the total BBP to be given away. The modified paper wallet generator would generate say 1,000 BBP addresses at a time output to a file containing each address.  The wallet would then take those 1,000 addresses as inputs to loop through and do send transactions of 5 BBP to each address.

I like 5 BBP because you can cover 1,000 people for the amount of what used to be one block reward.  Or 1,000 people for only $20.  And I think it would have better success than something like a direct mailing campaign.  

[lalexcross]

Gents, hello...

A question, why the magnitude going down every payment ?

Cheers
Ale

cos whales adding new machines=  magnite 100% = 1000 ... when ill add next 20 64cores machines, my magnitude will be raising and your falling, my rewards will be better like your 

Ok , I add 40 64core machine... but where ?

[Lichtsucher]

Hmm - is the machine reasonably busy? Maybe try renice-ing the index job, and ensuring that you aren't doing a lot of swapping out of the mongodb back and forth? What is the system doing when the index job is idling?
As for the HTTPS - you are probably right, I suppose. I'll add that to my todo list.

The system running biblepay-central explorer is a quite powerful VPS (I upgraded it to test if this helps), but as said, its idleing a lot. Nothing else is running there. Maybe it is a problem with MongoDB, it seems to use only one core.
A short google search shows that this is normal for MongoDB. Mhhh, not sure how to fix this.

[togoshigekata]

I noticed some funky values for BiblePay on CoinMarketCap:
https://coinmarketcap.com/currencies/biblepay/
It looks like Lich BiblePay Central Explorer might be reindexing?
https://explorer.biblepay-central.org/

Yes, my Explorer is still indexing. Which is weird, as it does this for 3 days now. It is really slow, but the system is idling a lot. It imports around 1 transaction per second, which might take a long time until it is done, but I can't find a problem. Except that it is slow.

Does anybody has an idea?

Info: I just added http://explorebiblepay.com/ to biblepay-central.
BUT: We should really try to make all explorer HTTPS only. It simply looks way better then plain http for a crypto website

By the way, http://explorer.biblepay.org:3001/ is stuck, too, for some hours.

Looks like my daemon crashed, its back up now,
On my Todo list to remove the 3001 port,
Im not sure how to add HTTPS? I believe Im using an Elastic IP Address with AWS, and Rob's subdomain is just pointing to that

Hmmm, I remember having trouble with long time waiting for upgrading biblepay, and Id have to stop the mongod service while it sudo makes, (I then later upgraded to a 2 core machine), I havent experienced iquidus being slow reindexing so that is interesting

[togoshigekata]

We are back up live on Masternodes.Pro, we were in maintenance for like 1-2 months UGH (their dev keeps getting sick)
and inblue helped get more links on Masternodes.Online

Masternodes.Pro:
https://masternodes.pro/stats/bbp

Masternodes.Online:
https://masternodes.online/currencies/BBP/

[noxpost]

Hmmm, I remember having trouble with long time waiting for upgrading biblepay, and Id have to stop the mongod service while it sudo makes, (I then later upgraded to a 2 core machine), I havent experienced iquidus being slow reindexing so that is interesting

Yeah - the upgrade is "not so fast" on the $5/month vultr servers. Even shutting down mongod, it still takes me an hour to do the make. Turns an upgrade into an evening project (unless maybe I move to the PPA ). But it is hard to beat the price.