BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 775.

Alex873434

member

Activity: 98

Merit: 10

Quote from: seeksilence1 on December 19, 2017, 09:31:06 PM

Alex can make a proposal for himself for his hard work.

Thank you! I think most of the hard work has been done by Rob so I think he should be the one taking up some of that IT budget first.

I -might- make a proposal for the revamp of the BX once it is completed and online (slowly getting there).

seeksilence1

newbie

Activity: 86

Merit: 0

Alex can make a proposal for himself for his hard work.

webster22

newbie

Activity: 56

Merit: 0

Quote from: togoshigekata on December 19, 2017, 07:34:09 PM

Quote from: webster22 on December 19, 2017, 07:25:07 PM

Can only masternode owners submit proposals? I would like to earn my way to one. One project I can greatly expand on is the Biblepay Homeless Ministry (PR budget) and an IT project or two.

ANYONE can submit a budget proposal!

There were multiple people asking to be paid first before doing work for the project, now we have a budget!

http://wiki.biblepay.org/Create_Sanctuary_2#SUBMIT_PROPOSAL

Try it out webster!

OF COURSE there would be a guide written by you..LOL. Ill write one up for my vision of the Biblepay Homeless Ministry.

togoshigekata

full member

Activity: 1260

Merit: 115

Quote from: bible_pay on December 19, 2017, 07:13:07 PM

And one thing we need to work on Togo, is ensuring we can budget our prioritized items, to ensure for example Orphans are paid before PR, and before wikis, etc.

Very good point! Would you want to create the Charity proposal for this month? I will vote immediately for it and spread the word,
I read that proposals get sorted to be paid going from most yes votes to least?

togoshigekata

full member

Activity: 1260

Merit: 115

Quote from: webster22 on December 19, 2017, 07:25:07 PM

Can only masternode owners submit proposals? I would like to earn my way to one. One project I can greatly expand on is the Biblepay Homeless Ministry (PR budget) and an IT project or two.

ANYONE can submit a budget proposal!

There were multiple people asking to be paid first before doing work for the project, now we have a budget!

http://wiki.biblepay.org/Create_Sanctuary_2#SUBMIT_PROPOSAL

Try it out webster!

webster22

newbie

Activity: 56

Merit: 0

Quote from: bible_pay on December 19, 2017, 07:13:07 PM

Quote from: togoshigekata on December 19, 2017, 06:41:31 PM

Budget/Proposal Questions:

- What is our current budget/proposal schedule? how to look it up?

Our current is :

command:
getsuperblockbudget 24600

Amount:
5789219.786313

To find next superblock height, getgovernanceinfo

- Are proposals funded all at once or in payments throughout the month?
-> All at once

- What happens to budget funds that do not get allocated/spent on any proposals?
-> Coins are destroyed (equivalent to burnt, or not expanding the money supply) and opportunity to spend that allocation is lost for one month.

- How many net Yes votes does a budget proposal need in order to be accepted for funding?
-> Currently 10% net Yes's.

And one thing we need to work on Togo, is ensuring we can budget our prioritized items, to ensure for example Orphans are paid before PR, and before wikis, etc.

Rob -

Can only masternode owners submit proposals? I would like to earn my way to one. One project I can greatly expand on is the Biblepay Homeless Ministry (PR budget) and an IT project or two.

bible_pay

full member

Activity: 1176

Merit: 215

Jesus is the King of Kings and Lord of Lords

Quote from: togoshigekata on December 19, 2017, 06:41:31 PM

Budget/Proposal Questions:

- What is our current budget/proposal schedule? how to look it up?

Our current is :

command:
getsuperblockbudget 24600

Amount:
5789219.786313

To find next superblock height, getgovernanceinfo

- Are proposals funded all at once or in payments throughout the month?
-> All at once

- What happens to budget funds that do not get allocated/spent on any proposals?
-> Coins are destroyed (equivalent to burnt, or not expanding the money supply) and opportunity to spend that allocation is lost for one month.

- How many net Yes votes does a budget proposal need in order to be accepted for funding?
-> Currently 10% net Yes's.

And one thing we need to work on Togo, is ensuring we can budget our prioritized items, to ensure for example Orphans are paid before PR, and before wikis, etc.

bible_pay

full member

Activity: 1176

Merit: 215

Jesus is the King of Kings and Lord of Lords

Quote from: togoshigekata on December 19, 2017, 06:34:17 PM

Quote from: 616westwarmoth on December 17, 2017, 12:39:35 AM

the one issue is right now with the exchanges frozen, the price won't reflect what I think will happen (a gentle bump). But I guess the payout on proposals isn't until January, which brings me to a question. How do we word a proposal that doesn't cite specific amounts of BBP but rather a price/value? Should the proposals say (using current $0.004444 and 23 sat values) 11,251 BBP to pay a $50 expense for some work done based on the current value or should they say, pay $50 in BBP and that price be determined on the payout day? Likewise with prices in BTC, so the above, would the proposal say .125 BTC in BBP or should it say 544K BBP to pay a .125 BTC for a listing expense?

The two issues I see are in the first example (work done), citing the value as BBP puts a lot of risk of fluctuation. Not singling out Togo because he's been HUGE in this, but he's asking for $600 at the current rate for a total of 135K BBP. But if the price were to double between now and the January payouts, he would get a huge windfall, and likewise, if the price plummeted (if BTC dropped to $6K and we stayed at 23 sat), he would not get fairly paid. Either is a poor outcome. In the second case, we MUST pay .125 BTC worth of BBP so expressing it at 544K BBP isn't very workable.

https://www.dashforcenews.com/dash-budget-proposals-and-the-problem-of-extra-money/

https://www.dashforcenews.com/evaluating-how-much-a-dash-budget-proposal-is-worth/

We are worrying too much about this. I want millionaires to become millionaires. If we focus too long on this we risk missing bigger opportunities. Imo, I would like to keep quoting proposals at our last midpoint, in BBP, and if one receives a windfall because the price rises, then they receive a windfall. I dont mind if Togo becomes a millionaire, as Dash masternode owners did.

Just be concious that once we do this, no one has the right to complain if BBP drops after they receive payment. We are basically making a best effort to pay you at our market rate.

Also, once we are listed on a larger exchange, such as bittrex, that exchange will have the ability to absorb much bigger depth. So its going to be more of a moot point in shorter terms.

These psychological problems arent ours. It happens where good times turn to bad very quickly, we could be a $20 million coin one month and a $10 MM the next month, so I say lets take the good with the bad and work hard and look past the microstructure for a while.

webster22

newbie

Activity: 56

Merit: 0

Rob - Sent you updated address. Out of PM for the day LOL. Can only read

togoshigekata

full member

Activity: 1260

Merit: 115

Quote from: togoshigekata on December 18, 2017, 11:18:43 AM

Now that Sanctuaries (Masternodes) are live, we have a Budget Proposal System now!:

http://wiki.biblepay.org/Create_Sanctuary_2#SUBMIT_PROPOSAL

Anyone can offer work and be paid in BBP coins from the new budget,
so anyone who was interested in bounties/rewards for work can now create budget proposals
and sanctuaries can vote to approve or deny the proposals

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)

Emission Schedule: http://wiki.biblepay.org/Emission_Schedule
For Example, assuming 70 million BBP coins are minted January 2018, there will be:
7 million BBP for Charity fund
3.5 million BBP for IT fund
1.75 million BBP for PR fund
1.75 million BBP for P2P fund

We dont have any best practices yet, this is all very new, and Im curious to see what ideas and proposals people come up with!
and Im curious to see how this whole system evolves!

Some DASH Documentation:

Using Decentralized Governance: Proposals, Voting, and Budgets
https://dashpay.atlassian.net/wiki/spaces/DOC/pages/19169430/Using+Decentralized+Governance+Proposals+Voting+and+Budgets

8 Steps to a Successful Proposal
https://dashpay.atlassian.net/wiki/spaces/DOC/pages/126189905/8+Steps+to+a+Successful+Proposal

togoshigekata

full member

Activity: 1260

Merit: 115

Budget/Proposal Questions:

- What is our current budget/proposal schedule? how to look it up?

- Are proposals funded all at once or in payments throughout the month?

- What happens to budget funds that do not get allocated/spent on any proposals?

- How many net Yes votes does a budget proposal need in order to be accepted for funding?

bible_pay

full member

Activity: 1176

Merit: 215

Jesus is the King of Kings and Lord of Lords

Quote from: slovakia on December 19, 2017, 05:35:07 PM

Bible_pay you promised Miner_Who_Found_Block in statistics Wink can you add this .... thaaanks ...

slovaks group will be committed to you

we are still waiting

so its problem fix it by few seconds? ....

Ill take a look at it over the next 8 hours.
Might not be fixed today.

togoshigekata

full member

Activity: 1260

Merit: 115

Quote from: 616westwarmoth on December 17, 2017, 12:39:35 AM

the one issue is right now with the exchanges frozen, the price won't reflect what I think will happen (a gentle bump). But I guess the payout on proposals isn't until January, which brings me to a question. How do we word a proposal that doesn't cite specific amounts of BBP but rather a price/value? Should the proposals say (using current $0.004444 and 23 sat values) 11,251 BBP to pay a $50 expense for some work done based on the current value or should they say, pay $50 in BBP and that price be determined on the payout day? Likewise with prices in BTC, so the above, would the proposal say .125 BTC in BBP or should it say 544K BBP to pay a .125 BTC for a listing expense?

The two issues I see are in the first example (work done), citing the value as BBP puts a lot of risk of fluctuation. Not singling out Togo because he's been HUGE in this, but he's asking for $600 at the current rate for a total of 135K BBP. But if the price were to double between now and the January payouts, he would get a huge windfall, and likewise, if the price plummeted (if BTC dropped to $6K and we stayed at 23 sat), he would not get fairly paid. Either is a poor outcome. In the second case, we MUST pay .125 BTC worth of BBP so expressing it at 544K BBP isn't very workable.

https://www.dashforcenews.com/dash-budget-proposals-and-the-problem-of-extra-money/

https://www.dashforcenews.com/evaluating-how-much-a-dash-budget-proposal-is-worth/

webster22

newbie

Activity: 56

Merit: 0

Rob - sent you PM re: Locker info. Hope this can work!

webster22

newbie

Activity: 56

Merit: 0

Guys - Is there a quicker way to update than sudo make? To have it only compile the changes and not the entire thing?

webster22

newbie

Activity: 56

Merit: 0

Quote from: znffal on December 19, 2017, 05:27:23 PM

OoOoOo Amazon gift card on the pool store Cheesy

Nice!

Rob - how about a paypal gift card?
Then I could buy groceries and start to mine away this damn credit card debt!

slovakia

full member

Activity: 770

Merit: 100

Bible_pay you promised Miner_Who_Found_Block in statistics Wink can you add this .... thaaanks ...

slovaks group will be committed to you

we are still waiting

so its problem fix it by few seconds? ....

jaapgvk

full member

Activity: 574

Merit: 104

Quote from: webster22 on December 19, 2017, 05:22:49 PM

Is there any working exchange right now? Coinsmarket does not pull up BBP (redirects to LTC)

Plans to add another exchange during the C-EX vacation?

No, there isn't a working exchange right now. But Coinsmarket is expected to be resuming trading once the greenlight is given that the latest mandatory is working as intended (and they update their side).

But I agree that third exchange is very much welcome.

znffal

full member

Activity: 364

Merit: 102

OoOoOo Amazon gift card on the pool store Cheesy

webster22

newbie

Activity: 56

Merit: 0

Is there any working exchange right now? Coinsmarket does not pull up BBP (redirects to LTC)

Plans to add another exchange during the C-EX vacation?

Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 775. (Read 243376 times)