Author

Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 363. (Read 243454 times)

newbie
Activity: 75
Merit: 0
Just want to chip in again

I said before we were at risk of becoming a 1 percent coin - that has come to pass
Huge difficulty in signing up to mine and share the rewards for the small guys

Solution

No blocks to joining or mining / stake on anyone wanting to mine up to 5000 RAC / no restrictions to heat mining / CPIDs required up to limit / other
We need numbers to come to BBP - doesnt matter where they come from

The argument some will set up multiple accts - so what? - adds up to more numbers
Maintaining multiple accts takes time and effort  - making sure RAC doesnt go over 5k to max out reward? / maintaining multiple PCs / updating wallets / etc - all add up to not being worth it
Once miners / others have a small pile of BBP - they become stakeholders - then they might want to continue building a stake - ie buy

Monthly selling of BBP needs to be done with far greater discipline
No more dumping of large blocks - I believe the agument a few superblocks ago was we are allright in the short time - just needed to obtain the months target and so dump.....
This attitude  towards selling just pisses off previous buyers who paid a lot more
Observe the last few superblocks and price action - you will see no reason to push the bid - coins will be dumped at any price - just put in a lowball bid and you will get hit

My 2c
PM
full member
Activity: 1260
Merit: 115

Good find!

Twitter: https://twitter.com/WCGrid/status/1037047912918917120



"Welcome to the THOR Challenge issued by the international team CRUNCHERS SANS FRONTIERES.

- The THOR Challenge will take place during 4 weeks.
- Ranking on the TRT (Total Run Time).
- ALL the World Community Grid active projects are in competition.
(MIP1, SCC1, ZIKA, HST1, FAAH, FAHB, OET, MCM)"

=

"Captains, click here to register your team to the THOR Challenge 2018 Y3-W1"
https://www.worldcommunitygrid.org/team/challenge/viewTeamChallenge.do?challengeId=9123&language=en_US

Team BiblePay
https://www.worldcommunitygrid.org/team/viewTeamInfo.do?teamId=JRD1XTFK92
Captain:   bible_pay

=

World Community Grid (WCG) is the 2nd CPU Only Science project that BiblePay rewards coins for

WCG Projects:
- Microbiome Immunity Project
- Smash Childhood Cancer
- OpenZika
- Help Stop TB
- FightAIDS@Home
- Outsmart Ebola Together
- Mapping Cancer Markers

=

World Community Grid Mining Guide:
https://www.reddit.com/r/BiblePay/comments/97cx4f/world_community_grid_wcg_mining_guide/
full member
Activity: 1176
Merit: 111
Actually if you're mining at below the cost you could be buying, you should be buying...that is the real art.

Why pay for electricity on your servers when you can generate more BBP by buying directly...
full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
" There are many serious vulnerabilities in the biblepay code. Get out while this coin still has some value "
This pray showing at block 69000...anyone see it ?

No there aren't,  the code continues the same at 69000 and we don't have a mandatory scheduled for 1.1.4.8's features yet, so nothing is scheduled to be changed in prod other than "possibly" removing the team requirement (although remember we still require Signed boinc association, so there is no loss of security in that respect).

Could you point me in the direction of someone competent enough to name ONE so I can speak to the individual, and name the item you are referring to?


THIS IS FUD!  THANKS FOR THE FUD! 


https://imgur.com/j6mPzcb

just captured when seeing.


Along with the ones with "666", and "Pray that our price rises above 10 satoshis again." and Slovakias prayers.  Its pretty depressing the level of depravity it takes to deface a public prayer system.  But the depths of Satan are unspeakable.  Lets pray this person receives the Holy Spirit.

full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
Has anyone here gotten saved or at least decided that Jesus might be the Lord based on your experiences with BiblePay?

full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
If you haven't already, please vote on the Team Requirement proposal.  I'd hope the following would sway a no vote, but if you still feel yes (killing the team requirement) is justified, then please vote!

TLDR: I fell it's unlikely we'd gain more than 1.5M Team RAC at the most wildly generous numbers. This would, if fully staked, add only 30M BBP demand for the coin, which is roughly 1 month of average volume/15 days of newly minted coins.

So, here is my logic on why removing the Team Requirement is not going to help.

First off, as a holder and big PoDC miner of BBP, there are two conflicting thoughts that present before considering the actual primary issue. The first is if the BBP Team Requirement (which I'll save some typing and call BBP-TR) is removed, but we also ban other coin teams (basically Gridcoin and Byteball) then one of two things could happen. One, nothing. Two, we could spike our RAC. A spike in Team RAC would make mining unprofitable for most if not all current users unless you had some unique advantage such as dirt cheap power. So the current miners, like myself would drop out. So we'd need a HUGE spike to offset this. If we did see a huge spike in RAC and that corresponded to a similar long-term increase in price, then as a big holder, I should welcome this. Sure I wouldn't be mining anymore but, in silly terms, if price went up 100x because the RAC went up 200x, then I'm coming out great!

The issue is this. Look at Byteball. There is no team requirement, in fact wasn't even a Byteball Team for the longest time, and the benefit for being on the team is still small. I can account for most of the top 10, which is about 50% of the distribution. I'm pretty close to the top 10, in fact most of the top 10 is Team BPP, but I'd wager the rest of the other BBP users don't know much about it either and are either 1) cashing out when they mine or 2) hoping for a price increase since this is basically "free" coins.

So the question becomes, where are all the team members from Hard[OCP], US Navy, Oracle, Overclock Forums, etc? Why are they not participating in Byteball? I don't see them in any large numbers (at least in coins rewarded, since again, I've got most the top 10 covered and the top 10 is about half the reward), Byteball is incredibly easy to set up. It's trivial enough I think my beginner computer friends could get linked to Byteball following the instructions. However, none of them would be able to figure out our coin without help, and then the issue of buying crytpo to stake, would end that discussion. So I don't think (if we block Team Gridcoin and Team Byteball) we'll see many new users from this, since the most crypto savvy ones are going to be blocked. And the rest of the teams, as evidenced by their non-participation in Byteball, which has far less complexity, are not interested. Or maybe because in part, most of the big teams, don't do much CPU BOINC.

But that thought aside, let's look at some very hard numbers. If we could get a 1% conversion rate, that is, by removing the BBP-TR, we would get 1% of the overall user base to become BBP users and fully stake their mining, what would that really mean? (and for the record I think 1% is way too high). At R@h, we're anywhere between 15-20% of the daily work done, Gridcoin is usually about 10%. Yesterday the two teams combined accounted for roughly 29% of the work at R@h. So if we got 1% of the remaining 71% that would be 225K RAC. At World Community Grid, we're about 3%, Gridcoin is about 4.6% and Byteball is about .5%. So between all three projects we're basically 8% of the total. Again, if we could get 1% of the remaining 92% that's about 1.2M RAC. Even rounding up we're looking at, again in my opinion of the best case, roughly 1.5M RAC added to our team. That would create demand for 30M BBP to stake, which is roughly 1 month of our average volume, or about 15 days worth of newly minted coins. How would that affect us? Who knows, but probably not by more than a few satoshi of value in the medium term.

In the end, the market is poor all around. We've overextended our support of orphans given the fall in price. Removing the BBP-TR is removing one of the potential major marketing points of the coin, the hard and fast numbers of how many people we've added to the cause of scientific research. How many we can lay exclusive claim to for being on BOINC. We're the number 3 team ALL TIME at Rosetta@home, set to be number two by mid-October. And number one in RAC there. We're number 89 all time at World Community Grid and should break into the top 50 by the end of the year, all while being the fifth highest there in RAC. Giving up that potential marketing angle for what I suspect will be a pittance of users seems not worth the effort. And using that programming time (however small) seems to be a poor use of resources in an increasingly lean time.



Although I generally feel this is a good post in most respects, I want to offer the assertion that the "1% gain in boinc participation" should not necessarily be considered way too high in  our estimations.  I would say that in most PR campaigns that would be a true statement.  However, in this case for all intents and purposes we are basically inviting users who are already paid up on the hardware and paid on the electricity to come to BIBLEPAY for only the cost of the UTXO (which is considered their asset - they get to keep it - so its not a capital expense to them).  So on the grounds that they can tinker with a new novelty item (Those that were resistant to crypto) this might be the kicker that gets them started, I would argue over a year, it is possible to gain 20% of the boinc users (IE 10,000).  

This campaign is sort of an experiment, to see if we can become a seed in order to become a household name later.  Im looking at this as the difference between biblepays
 stagnation (requiring us to really think out of the box to grow), or possibly gaining a massive amount of PR and growing through this experience.  This appears to me to be the Holy Grail opportunity for growth at this time for the PODC side- especially since we already do that so well.  We are great cancer miners, and great at WCG.  

I do not believe the long term effect of additional boinc users is a price dump!  They can only dump the coins once while value buyers buy them once, at that point once the emission is emitted, our total supply is stable.  Another words, I view 10,000 miners with 10,000 exchange accounts as much less volatile and more stable for our price than 1,000 miners (over the long term - 1 year out+).

Anyway, I will roll with this either way, as I said I am for no double dipping and nice team stats, but I lean towards Growth at this time and feel with our blacklist feature we can prevent double dipping and make our own stats report.

newbie
Activity: 81
Merit: 0
" There are many serious vulnerabilities in the biblepay code. Get out while this coin still has some value "
This pray showing at block 69000...anyone see it ?

No there aren't,  the code continues the same at 69000 and we don't have a mandatory scheduled for 1.1.4.8's features yet, so nothing is scheduled to be changed in prod other than "possibly" removing the team requirement (although remember we still require Signed boinc association, so there is no loss of security in that respect).

Could you point me in the direction of someone competent enough to name ONE so I can speak to the individual, and name the item you are referring to?


THIS IS FUD!  THANKS FOR THE FUD! 





https://imgur.com/j6mPzcb

just captured when seeing.
full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
" There are many serious vulnerabilities in the biblepay code. Get out while this coin still has some value "
This pray showing at block 69000...anyone see it ?

No there aren't,  the code continues the same at 69000 and we don't have a mandatory scheduled for 1.1.4.8's features yet, so nothing is scheduled to be changed in prod other than "possibly" removing the team requirement (although remember we still require Signed boinc association, so there is no loss of security in that respect).

Could you point me in the direction of someone competent enough to name ONE so I can speak to the individual, and name the item you are referring to?


THIS IS FUD!  THANKS FOR THE FUD! 



full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta


And your mining machine is running 24/7 ?

You only need One to actually reach the network in 24 hours to be paid (as long as you have been sending at least one per day).

But our network spork setting is designed to send 4 per 24 hours.



The question was why he has only one podcupdate when he is running 24/7

No, it wasn't.    But thanks for quoting the question.

The minimum number is not consistent if you don't have enough MATURE stake balance in 'exec totalrac'.  You can only stake if you have coins older than 24 hours to stake in coin control.  Secondly you need to keep your miner actually running and wallet passphrase has to be entered correctly when you boot.  Its obviously working for our other 2,400 users.



full member
Activity: 406
Merit: 101
If you haven't already, please vote on the Team Requirement proposal.  I'd hope the following would sway a no vote, but if you still feel yes (killing the team requirement) is justified, then please vote!

TLDR: I fell it's unlikely we'd gain more than 1.5M Team RAC at the most wildly generous numbers. This would, if fully staked, add only 30M BBP demand for the coin, which is roughly 1 month of average volume/15 days of newly minted coins.

So, here is my logic on why removing the Team Requirement is not going to help.

First off, as a holder and big PoDC miner of BBP, there are two conflicting thoughts that present before considering the actual primary issue. The first is if the BBP Team Requirement (which I'll save some typing and call BBP-TR) is removed, but we also ban other coin teams (basically Gridcoin and Byteball) then one of two things could happen. One, nothing. Two, we could spike our RAC. A spike in Team RAC would make mining unprofitable for most if not all current users unless you had some unique advantage such as dirt cheap power. So the current miners, like myself would drop out. So we'd need a HUGE spike to offset this. If we did see a huge spike in RAC and that corresponded to a similar long-term increase in price, then as a big holder, I should welcome this. Sure I wouldn't be mining anymore but, in silly terms, if price went up 100x because the RAC went up 200x, then I'm coming out great!

The issue is this. Look at Byteball. There is no team requirement, in fact wasn't even a Byteball Team for the longest time, and the benefit for being on the team is still small. I can account for most of the top 10, which is about 50% of the distribution. I'm pretty close to the top 10, in fact most of the top 10 is Team BPP, but I'd wager the rest of the other BBP users don't know much about it either and are either 1) cashing out when they mine or 2) hoping for a price increase since this is basically "free" coins.

So the question becomes, where are all the team members from Hard[OCP], US Navy, Oracle, Overclock Forums, etc? Why are they not participating in Byteball? I don't see them in any large numbers (at least in coins rewarded, since again, I've got most the top 10 covered and the top 10 is about half the reward), Byteball is incredibly easy to set up. It's trivial enough I think my beginner computer friends could get linked to Byteball following the instructions. However, none of them would be able to figure out our coin without help, and then the issue of buying crytpo to stake, would end that discussion. So I don't think (if we block Team Gridcoin and Team Byteball) we'll see many new users from this, since the most crypto savvy ones are going to be blocked. And the rest of the teams, as evidenced by their non-participation in Byteball, which has far less complexity, are not interested. Or maybe because in part, most of the big teams, don't do much CPU BOINC.

But that thought aside, let's look at some very hard numbers. If we could get a 1% conversion rate, that is, by removing the BBP-TR, we would get 1% of the overall user base to become BBP users and fully stake their mining, what would that really mean? (and for the record I think 1% is way too high). At R@h, we're anywhere between 15-20% of the daily work done, Gridcoin is usually about 10%. Yesterday the two teams combined accounted for roughly 29% of the work at R@h. So if we got 1% of the remaining 71% that would be 225K RAC. At World Community Grid, we're about 3%, Gridcoin is about 4.6% and Byteball is about .5%. So between all three projects we're basically 8% of the total. Again, if we could get 1% of the remaining 92% that's about 1.2M RAC. Even rounding up we're looking at, again in my opinion of the best case, roughly 1.5M RAC added to our team. That would create demand for 30M BBP to stake, which is roughly 1 month of our average volume, or about 15 days worth of newly minted coins. How would that affect us? Who knows, but probably not by more than a few satoshi of value in the medium term.

In the end, the market is poor all around. We've overextended our support of orphans given the fall in price. Removing the BBP-TR is removing one of the potential major marketing points of the coin, the hard and fast numbers of how many people we've added to the cause of scientific research. How many we can lay exclusive claim to for being on BOINC. We're the number 3 team ALL TIME at Rosetta@home, set to be number two by mid-October. And number one in RAC there. We're number 89 all time at World Community Grid and should break into the top 50 by the end of the year, all while being the fifth highest there in RAC. Giving up that potential marketing angle for what I suspect will be a pittance of users seems not worth the effort. And using that programming time (however small) seems to be a poor use of resources in an increasingly lean time.
full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
newbie
Activity: 267
Merit: 0
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta


And your mining machine is running 24/7 ?

You only need One to actually reach the network in 24 hours to be paid (as long as you have been sending at least one per day).

But our network spork setting is designed to send 4 per 24 hours.



The question was why he has only one podcupdate when he is running 24/7
newbie
Activity: 81
Merit: 0
" There are many serious vulnerabilities in the biblepay code. Get out while this coin still has some value "
This pray showing at block 69000...anyone see it ?
full member
Activity: 406
Merit: 101
I think it's funny we're trying to get more miners when mining isn't even profitable now.

Fair point..

Mining is the art of minting coins at a future expected value, not at the current value.



Actually if you're mining at below the cost you could be buying, you should be buying...that is the real art.
full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta


And your mining machine is running 24/7 ?

You only need One to actually reach the network in 24 hours to be paid (as long as you have been sending at least one per day).

But our network spork setting is designed to send 4 per 24 hours.

full member
Activity: 1176
Merit: 215
Jesus is the King of Kings and Lord of Lords
For those fasting, a thought or two.

Our God is not a short-term thinker. He works and guides our actions to His plan in ways that can be hard to understand, but we can rest assured that the architect of the universe is in control.

The Bible tells us over and over of His love and His attention, and that we can trust in His promises. He has plans not to harm us, but to raise us up and to make us a shining beacon to the world when we act in His name with a clear mind and a right heart.

That isn't to say necessarily that everything will always work the way we want it to, but that it will work out the way He commands, and that's far better. Ask for wisdom and it will be granted. Ask for clarity, and for how we can best use our skills and passions in His name to reach the world and to take care of our brothers and sisters that need help.

Things may become darker, but what the world sees and what we perceive when we examine the world through His lens can be very different. I pray for a supernatural intervention, for opportunity to grow, and for a peace that surpasses understanding.


Let us not get tired of doing good, for we will reap at the proper time if we don't give up.

Galatians 6:9



AMEN BROTHERS!

newbie
Activity: 267
Merit: 0
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta


And your mining machine is running 24/7 ?


I checked your profile on https://biblepay-central.org/en/podc/user/1989588/

It looks ok, 5-6 podc updates every day.
newbie
Activity: 267
Merit: 0
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta


And your mining machine is running 24/7 ?
jr. member
Activity: 175
Merit: 1
Hello,

Does anybody know how the PODC Updates works? I the past, I was having 4-6 Updates every day and now I have only one (+ some others that I force manually just in case).
Why is the number of updates not consistent? What is the minimum number of updates per day to receive PODC payments?

Thanks!



Hello

Are you counting Rosetta or WCG or both?

Rosetta
Jump to: