Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 104. (Read 243376 times)

I see 2 users have tried to sponsor a cameroon child already.

Please wait until we announce the go-live announcement.

We are only integration testing this week.

I believe you can still use the existing child ID, so if you paid 50K already, please post here after I announce the go-live and I'll explain how to use your existing child ID.

WARNING:  Don't use 'sponsorchild' with 'authorize' unless you agree to gift the foundation the 50K fee and actually pay to sponsor a child - (that is specifically what it says on the screen).  Once you do that, you donated the 50K gift.  

For now, it looks like the easiest way to stop auto-tithing every 12 hours is this:

gscclientminerfrequency=604800

(This setting is in seconds, so the above would tithe once per week).

On a side note we have:
disablegsctransmission=1 
(This turns it off completely)


You can use the first method and still manually use 'sendgscc' to send one.  (Dont use the second method as sendgscc will not work in that case).

Ok makes sense.  What's the command again to suspend automatic tithing?  Thanks!

I don't believe that would make it more accurate.  Tomorrow's ROI is a guess either way because one does not know who will be tithing in the future.

The way it is now, you have a full day of data to compare against.  Systems that do a short term analysis would run the risk of misleading a person in (based on promised astronomical values) and then once locked in they would see a loss, resulting in a possible complaint risk.

 I just donated $ 50. You did well

Can we get exec roi to work on current points in the system and not the previous day?

Yeah, I can see (sort of for the most part) whats going on now - you have 6K coin age total.
The ROI shows you would make -60% ROI on a 2bbp tithe.

Yesterdays contract had about 6B coin*age in it.  So divided by 30 participants you have roughly 200MM or so coin*age going in per participant (roughly, I realize some are much more than others).

What this does is makes it unprofitable to send a tithe unless you have at least about 30,000 ABN weight.  If you had 35K weight you would see something like a 25% or so ROI on the 2bbp tithe.

So, eventually we can put in a break-even output in the exec roi.  And it would be nice to stop the tithe automatically in the miner when it will theoretically result in a loss for the user - that would be real nice also.

I don't have any other suggestions right now other than saving up more coin age.  I can't think of any real world modification to the algorithm other than adding the safeguards etc.  As we already only reward non-sanc free bbp.    If you have any ideas for that please let us know.  I agree, it would be nice to be able to reward the smaller users no matter how low the coin*age is, but that opens up doors for mickey mouse games and squirrely rules etc. 

Simply stopping the tithe until enough age is saved up to surpass a low ROI threshhold would be a pretty good way to fix the lions share of it.

My abnweight is currently at 6112 so that'll be awhile...

No I think we are OK with Cameroon, I don't think we introduced an issue.

My exec roi looks ok; what I believe happened is maybe you recently sent a POG transmission.
For the following 6 blocks after one when your weight is 0, ROI is not calculatable.

Please wait until your 'exec getabnweight' gets up to over 500K again or so and please try again?

I enabled Cameroon-One at 1% for our integration testing.  

But I think everything is still OK with POG, but I think somehow, Cameroon threw off the ROI calculation only.

Ill check out the ROI calc now.

Has something happened to the POG campaign?  Rewards seem to have fallen off a cliff:


10:10:49

exec roi


10:10:56

{
  "Command": "roi",
  "Notes": "Please note this information is for the POG campaign only, and based on yesterday's participation levels.",
  "Contract Height": 139010,
  "Total Paid": 569607.58,
  "Total Points": 6324273365,
  "Payment Per Point": 9.006688154125987e-005,
  "My Current Coin Age": 5389.641400462962,
  "My free balance": 3580,
  "Sanctuary Reward @139009.00": 1400,
  "Sanctuary ROI Annualized %": 11.35555303209933,
  "Tithe 2.00 Points": 6790.522651828171,
  "Tithe 2.00 Reward": 0.6116011992854496,
  "Tithe 2.00 Daily ROI %": -69.41994003572751,
  "Balance 3580.00 Annualized ROI %": -14.15546263298354,
  "Tithe 1002.00 Points": 53932.32101991768,
  "Tithe 1002.00 Reward": 4.857515968546125,
  "Tithe 1002.00 Daily ROI %": -99.51521796721096,
  "Balance 3580.00 Annualized ROI %": -10166.3968343989,
  "Tithe 2002.00 Points": 67927.85405295152,
  "Tithe 2002.00 Reward": 6.118049984339174,
  "Tithe 2002.00 Daily ROI %": -99.69440309768535,
  "Balance 3580.00 Annualized ROI %": -20349.07574736638,
  "Tithe 3002.00 Points": 77749.34989762917,
  "Tithe 3002.00 Reward": 7.002641487139732,
  "Tithe 3002.00 Daily ROI %": -99.76673412767688,
  "Balance 3580.00 Annualized ROI %": -30535.58759377636,
  "Tithe 4002.00 Points": 85569.48111643663,
  "Tithe 4002.00 Reward": 7.706976319261171,
  "Tithe 4002.00 Daily ROI %": -99.80742188107793,
  "Balance 3580.00 Annualized ROI %": -40723.93725261089,
  "Tithe 5002.00 Points": 92173.85813152313,
  "Tithe 5002.00 Reward": 8.301811961532787,
  "Tithe 5002.00 Daily ROI %": -99.83403014870986,
  "Balance 3580.00 Annualized ROI %": -50913.40331380002,
  "Tithe 6002.00 Points": 97947.16436806045,
  "Tithe 6002.00 Reward": 8.821795650440411,
  "Tithe 6002.00 Daily ROI %": -99.85301906613728,
  "Balance 3580.00 Annualized ROI %": -61103.63253037959,
  "Tithe 7002.00 Points": 103109.9491141605,
  "Tithe 7002.00 Reward": 9.286791572590429,
  "Tithe 7002.00 Daily ROI %": -99.86736944340774,
  "Balance 3580.00 Annualized ROI %": -71294.42237642471,
  "Tithe 8002.00 Points": 107801.8099964693,
  "Tithe 8002.00 Reward": 9.709372850885408,
  "Tithe 8002.00 Daily ROI %": -99.87866317357053,
  "Balance 3580.00 Annualized ROI %": -81485.6446622745,
  "Tithe 9002.00 Points": 112117.3626512079,
  "Tithe 9002.00 Reward": 10.09806122062482,
  "Tithe 9002.00 Daily ROI %": -99.8878242477158,
  "Balance 3580.00 Annualized ROI %": -91677.21250431487,
  "Tithe 15002.00 Points": 116124.0445708125,
  "Tithe 15002.00 Reward": 10.45893056645135,
  "Tithe 15002.00 Daily ROI %": -99.93028309181142,
  "Balance 3580.00 Annualized ROI %": -152846.7176073532,
  "Tithe 21002.00 Points": 135816.1115696743,
  "Tithe 21002.00 Reward": 12.23253363214039,
  "Tithe 21002.00 Daily ROI %": -99.94175538695296,
  "Balance 3580.00 Annualized ROI %": -214001.8191403427,
  "Tithe 27002.00 Points": 151024.4480433397,
  "Tithe 27002.00 Reward": 13.60230107175363,
  "Tithe 27002.00 Daily ROI %": -99.94962483863509,
  "Balance 3580.00 Annualized ROI %": -275161.0379918662,
  "Tithe 33002.00 Points": 163665.1529939092,
  "Tithe 33002.00 Reward": 14.7408099471346,
  "Tithe 33002.00 Daily ROI %": -99.95533358600348,
  "Balance 3580.00 Annualized ROI %": -336322.614647187,
  "Tithe 39002.00 Points": 174606.8823860405,
  "Tithe 39002.00 Reward": 15.7262973921522,
  "Tithe 39002.00 Daily ROI %": -99.95967822831611,
  "Balance 3580.00 Annualized ROI %": -397485.7514372029,
  "Tithe 45002.00 Points": 184326.2151212773,
  "Tithe 45002.00 Reward": 16.60168738227687,
  "Tithe 45002.00 Daily ROI %": -99.96310900097268,
  "Balance 3580.00 Annualized ROI %": -458650.0107292031,
  "Tithe 51002.00 Points": 193116.2301595051,
  "Tithe 51002.00 Reward": 17.39337662547082,
  "Tithe 51002.00 Daily ROI %": -99.96589667733527,
  "Balance 3580.00 Annualized ROI %": -519815.1233947403
}

I was thinking about this a little more during church, and I have an additional perspective to add that I believe is more accurate:

We are not claiming that BBP received from POOM (or mining) is deductible.
We are only stating that Fiat contributions to Cameroon-One for sponsoring children is tax deductible (because they provide a 501c3 generated receipt in your name).

The BiblePay you receive and file on your tax return has its own cost basis.  So in the case of POOM, its most likely costing a fraction of your normal mining costs (or zero) - although I must stress we don't provide tax advice for mining operations.

I am aware of those for a completely different reason - when we were considering becoming a 501c3, we evaluated those rules as:  A qualified 501c3, who already has the 501c3 status, is going to hold an event.  The same 501c3 that is donated to must provide some type of receipt to the participant, and that shows the allowable net deduction.  For example, if BiblePay was 501c3 "abc123" and we accepted tax deductible contributions, and we decided to hold a web event where we charged $20 fiat to attend but provided you with $10 of BBP at the event, your net deduction is $10 (not $20) because you received a rebate or benefit for coming (from the same 501c3).

However, I don't think this applies to two different organizations working in parallel to each other.  First of all, we aren't a 501c3, Cameroon is.
So they are one distinct organization providing you with a distinct tax deduction for sponsoring a child.

We are a non 501c3 organization that provides you with mining rewards but only for participants who already sponsor a child.

So there is no "Sponsor minus event" in this case.

In addition, the mining rewards through our GSC campaigns are based on your long term status of simply sponsoring a child (not based on how much of a tax deduction you are getting).

Also - we are an international DAC (not a US org), so our GSC reward structure and mining reward structure is not based on one particular countries law.

However, I encourage each participant to consult their own tax attorneys for tax advice for their personal situation.

Not possible. In that case its very expensive trading for him. You need to pay for a spread in that case. When we are talking for example about 300mln this game will cost you about 3 BTC on spreads. Hm?

I am not a tax professional or a US citizen but the issue has been mentioned else where and I decided to look for myself so I found this

https://www.irs.gov/publications/p526

Use CTRL+F search for "Contributions From Which You Benefit"

"If you receive a benefit as a result of making a contribution to a qualified organization, you can deduct only the amount of your contribution that is more than the value of the benefit you receive. Also see Contributions From Which You Benefit under Contributions You Can't Deduct, later.

If you pay more than fair market value to a qualified organization for goods or services, the excess may be a charitable contribution. For the excess amount to qualify, you must pay it with the intent to make a charitable contribution.

Example 1.

You pay $65 for a ticket to a dinner dance at a church. Your entire $65 payment goes to the church. The ticket to the dinner dance has a fair market value of $25. When you buy your ticket, you know its value is less than your payment. To figure the amount of your charitable contribution, subtract the value of the benefit you receive ($25) from your total payment ($65). You can deduct $40 as a charitable contribution to the church.

Example 2.

At a fundraising auction conducted by a charity, you pay $600 for a week's stay at a beach house. The amount you pay is no more than the fair rental value. You haven't made a deductible charitable contribution."

Thankfully, we have accounted for that situation.

1.  We do cap each maximum daily reward to the USD equivalent value - so today for example a user will get a max of 1494 bbp per day per child.
2.  We do not emit more than the cap per child per day; meaning if we only have one participant Cameroon-one will emit 1494 per day and the rest would not be emitted.
3.  There is a command in the wallet called 'exec dailysponsorshipcap' that allows the core to have a solid consensus of the amount per child per day.

when POOM is taking 50% of GSC lets say there is only 1 participant do they get 100% of that 50%? Or how does the reward work?

Latest update on Torben since he moved to America and is being persecuted in Denmark:
https://www.youtube.com/watch?v=_HSFuRXAGDc

On a side note, I learned to heal people with TLR from Torben's conference in Allen.  Since then I prayed for a woman who was thrown through a closed glass window, who dropped her crutches (one day after the prayer) and then something amazing happened to her at church.  If anyone here doesn't believe in Jesus, feel free to email me ([email protected]) and Ill even CC Shiela in the conversation.  She is a real example of someone Jesus revealed himself to - and she is helping us communicate with our Kenyan orphanage.  This is proof Jesus is real and she is experiencing miracles in her life!
http://pool.biblepay.org/SAN/Healing/ShielaLeftFoot.jpg

Please see the proposals:

https://forum.biblepay.org/index.php?topic=440.msg6278#msg6278
https://forum.biblepay.org/index.php?topic=435.0

And also, if anyone has anything negative to report about Tokok or FUBT, please post in the forum.biblepay thread so we know.

On the Fiat question "Will the FIAT sponsoring system be available worldwide or will there be any restrictions on countries/credit card companies etc.?
Also, will the orphan expenses get an anually "donation receipt" or something like that to declare at the tax office?":

1.  Yes, the donations can be made worldwide, with a couple restrictions.  A paper check can be mailed to Cameroon from anywhere as long as they can cash it (and it should have the POOM ID on the check or on the notes).  They also accept debit and credit cards from Global Giving.  They also accept Intl Paypal.  Meaning the payment can be made with a credit card internationally (or with paypal balances).  They believe for some reason paypal does not work in China though but it definitely works in Europe.

2.  The donation is tax deductible, and you will receive a receipt from Cameroon for your own personal taxes.

3.  They have something called "match" where a rich donor at global giving will match your donation, but I have been informed it wont work with POOM rewards, but, it will give you a free month of credit at Cameroon for the sake of the child - if you decide to want this Ill post more info on global givings match when we go live.  Global Giving accepts credit cards also.

4.  Cameroon recommends Paypal for setting up child payments, we have that info compiled in the wallet btw.  When you type 'sponsorchild' it will come up when you decide to sponsor one.

5.  So another benefit in POOM integration is it gives Fiat buyers an additional tax-deductible way to invest in BBP without going through an exchange; and it also decreases our monthly net sales pressure from coin emissions (as less rewards will be sold on the exchange for electricity/mining and instead be repaid for orphan expenses).  Its also good in the sense that it increases our real world utility.