Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 742. (Read 243376 times)

The MN payout structure should over time work itself out for the most part.  I really would have rather seen the DASH style of winner selection since 1) It's already been in production for quite a while and for the most part works and 2) In the early days of the coin it would work out the statistical variation better.  However, this coin is trying out a lot of things and in the end, I'm pretty sure it will even out.  Just in the short term it really is sub-optimal for some which is a shame as the rewards are the highest they'll ever be.

Got an auto payout on 12/31/17 at 12:04 CST 287.36  BBP (TX ID 9e53d3beb41b93f9df7db6361113f18877123f4f5b06037f75c8f5ccfa618112-000)

why isnt rewards numbers blocks/numbers MN .... by me lucky/random rewarding isnt transparency

205blocks for 24hours / numbers of MN this style is fair for all MN ..

can be that 1MN get 30-40% all rewards still?

1.auto-payout= i see that i can automatic payments= can i press that button?
thanks

Yes, type in masternode winners.  Those are the ones who "win" each upcoming block.  However, we do use an algorithm that rotates to the ones who have not been paid, so actually they all get paid.

Ok, I let the pool run its daily auto-withdraw feature (but remember, this is not in prod yet, so it wont go live until Monday night or so), but anyway it picked up three recipients:
287
359
and me

Could you guys please check your transaction history now, it should say "auto withdrawal".
Thanks for helping out.


EDIT: Dont worry, it will not dock the accounts unless every biblepay address is validated, and a TXID is generated, so have no fear, you arent charged unless there is a txid on the network that we can trace every day.  Its very similar to our superblocks.

MN rewards works on random lucky style?

It will create one multioutput transaction once per day destined to users who authorized auto-withdrawals for approximately 5% of the mature owed balance, and then over time, this will be increased in percentage as the pool health improves up to about 50% of the balance each day.

(There is no preauthorization feature).

Ill let you know as soon as Im ready to test the first auto-send.

inblue pointed this out on the discord,
There's a post in /r/CryptoCurrency about BiblePay with over 400 upvotes! about being ranked 666 in market cap
https://www.reddit.com/r/CryptoCurrency/comments/7n5h6m/biblepay_currently_ranked_666/

As inblue said: "Well, there's no such thing as bad publicity "

616Westwarmoth, did the above, and wrote down my balance as of 10:55am CST.   

One suggestion, have it send an email to authorize it, and as part of the authorization, send 1 BBP to the "known" address.  Tell the user, check your BBP balance in wallet, did you recieve 1 BBP at approx XX:XX AM?

Is anyone out there that would like to test a beta feature, someone that will be around in a couple hours (I believe my wife is sick and not wanting to go to church today, so I will probably be here playing our audio NKJV bible), anyway what I need help with is:

Someone to log in to the pool, that has a balance > 1000 bbp
Go to Account
Verify your bbp receiving address in Prod is correct
Click the button to Set up automatic payments
Post username here
Write down your balance

Then over the next 2 hours, I will beta a test an auto withdrawal for a few people, then you can report back the finidings:
- BBP was deducted properly, and transaction history has the correct deduction showing


Thanks!

So for the realists out there:
20% for our budgets from each block - and 100% of our charity goes to orphans with no overhead
Of the remaining 80%: 50% to miner, 50% to sanctuary if Solo mining
If pool mining: 50% to sanctuary, ~45% to miner over the long term <- this is more realistic, temporarily 50/33 for a couple days
If pool mining @ minersofmen: 50%, 50% (If minersofmen is up?)

[/quote]


And I catch your drift, if you want to work with Gross numbers:

Out of a 14000 BBP block, a miner receives 40% of the block NET counting all possible deductions (budget,pool fees,sanctuary share everything), and today-tempoarily receives 33% of the block counting high pool fees (as of today).  Count on that 33% rising over the next 40 days back up to 39% of the block.



[/quote]

Thanks Rob,

Not that I think it's unfair, but it's better to give good amounts of all fees and rewards.
Everywhere u read different value's. Just make one place where u update all information so it's clear for everyone.

Besides that... I think 50% for a masternode is already high. From start it was 10% masternode 80% miner.
If u lower more from the miners they might leave ofcourse.

The pool is good, but with higher fees people just might make a own pool or mine solo. I think that's what we see now.
In the reports from last night I've seen our pool missed even 20 blocks in a row (like 3,3 hour) so someone else got those blocks.

 

And I catch your drift, if you want to work with Gross numbers:

Out of a 14000 BBP block, a miner receives 40% of the block NET counting all possible deductions (budget,pool fees,sanctuary share everything), and today-tempoarily receives 33% of the block counting high pool fees (as of today).  Count on that 33% rising over the next 40 days back up to 39% of the block.

Alright, I just told the pool to release the current budget (this is a decentralized feature btw, its just a one page hex command that is a little technical, if I die Im sure someone here like Alex can figure it out, you then paste this 300,000 hex command into a valid masternode - any biblepay masternode and it kicks it over for the next superblock).  This combines our winning proposals into a budget object and creates a superblock trigger for the next height.  The budget TXID is updated on the current proposal records and they become budget proposal records in contrast to proposal records.

Anyway, the superblock is coming at block 24600 (getsuperblockbudget 24600).

Now you should be able to right click on the Budget row, (they all have the same budget ID btw - there is just one budget to vote on), and copy
 the vote for budget command, and go ahead and vote from your sanctuary to vote for or against the current budget.

If all goes well, at block 24600, we will automatically emit the payments to the proposal recipients, and the rows will move from the Budget to the Funded object.

Ill take a look at adding another chart for our Budget for fun.

No, what it means is out of a 14K block, 20% goes to the budget for the next month, leaving an 11K block.

That 11K block is split between One lucky masternode, and the lucky miner.  So thats 50% for the miner NET, after our budgeting system allocates a share.  And remember, this is where the deceitful naysayers kick in- Remember, if we had a budget like dash, where we could only spend 50% of the budget, the rest of those coins are burnt!  So our budget Is not always 20% of each block; that is the MAX.

Now out of the 11K block where you get Half (or 5500 BBP as a miner), the pool fee of 17% is TEMPORARILY deducted from Pool winners, but only until the pool is healthy; with our auto payment system coming in 7 days, I believe its going to be healthy; the normal pool fees are more like 4% over the long term; so again, dont be deceived and say we are charging 17% forever for fees when we are charging 4% for the pool over the long term.  The pool has amazing features that costed a lot of development time that are unique: such as gospel links, orphan writing, orphan bios, orphan SAN, Expense tracking, budgets, proposals, Etc.  It does add value to biblepay, and this high temporary pool fee will go down day to day over the next 45 days.

So for the realists out there:
20% for our budgets from each block - and 100% of our charity goes to orphans with no overhead
Of the remaining 80%: 50% to miner, 50% to sanctuary if Solo mining
If pool mining: 50% to sanctuary, ~45% to miner over the long term <- this is more realistic, temporarily 50/33 for a couple days
If pool mining @ minersofmen: 50%, 50% (If minersofmen is up?)

This may come from my lack of knowledge about superblocks, I think they have something to do with this, Ill dig into it.

===

"I'm no expert but I believe superblocks are created every x blocks where x is about a month long. Proposal owners predesignate payment addresses. Superblocks create funds based on the requested amount from proposals that passed (up to the monthly maximum) and send them to the addresses. If more funding was successfully requested than can be afforded by the budget I think higher net yes vote proposals have priority. Any proposals that passed but didn't get funded (due to lack of funds) must be resubmitted the next month."
https://www.reddit.com/r/dashpay/comments/65vkza/what_are_super_blocks_how_do_they_come_into/

"During the month, anybody can make a budget proposal to the network. If that proposal is approved by at least 10% of the masternode network, then at the end of the month a series of "superblocks" will be created. At that time, the block rewards that were not paid out (10% of each block) will be used to fund approved proposals. The network thus funds itself by reserving 10% of the block reward for budget projects."
https://www.dash.org/governance/

===

https://github.com/biblepay/biblepay/blob/853affd8c070bfbfd8069abd4e4e8fc83f30afb9/src/masternode-payments.cpp#L104

===

BiblePay Proposals
http://forum.biblepay.org/index.php?board=5.0

Pool >>> Left tab Governance >>> Proposal List
https://pool.biblepay.org/

Anyone can create a proposal and request payment of BBP coins for work!
(But I believe now we may be in the BUDGET phase for current proposals, so you can still propose work for next month right now)

this was old, look at block mine.
50% goes to pool and 50% to masternode
https://biblepay-explorer.org/tx/cbda4094237f57dc91a2f921eb91ec31bbfec9a2ba83e43b4318c90505cc584d

And then who is paying for charity, pool fees, IT budget and PR and P2P and Pool Fee?

Looking closer to block explorer I see a lot solo miners atm

Just put the right information in first page to just to be clear on all.

Block Reward Breakdown:
10% Charity
5% IT
2.5% PR (Public Relation campaigns)
2.5% P2P (Orphan Letter Writing, Pay To Preach, Pay to be a Priest, FAQ writers, Social Media functions)
40% Miners
40% Sanctuaries (Masternodes)

http://wiki.biblepay.org/Create_Sanctuary_2#BLOCK_REWARD_.26_EMISSION

He means 10% donations + 17% fee.

@Rob, I like to get a clear view of all % also. I think miners are getting around 20% if calculated correct.
MN = 50%

Lets take a breather and stop and focus on the budget.  The budget is now maxxed out at 99%, and we only have a few days left before the budget must be finalized.


Everyone, please stop entering new proposals until we vote the current budget in, as we need to ensure we mint this superblock so that our orphans can be paid in January.  We have a $7100 orphanage bill coming on Jan 17th 2018.

Thanks,
Rob

Added to the OP and added to the website downloads section.