Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 818. (Read 243376 times)

I am not bickering. Making an observation about what would be a more fair setup and what I think will be a corrupting influence in the future. By having something so out of reach at the start and only allowing 'rich' miners (early btc owners or powerhashers) you are inviting a concentration of profit driven decision makers. The project then goes from charity driven and altruism to entirely money driven. 

If you take a look at the dash masternode proposals discussions you will find exactly how corrupting this can be. They banter around bragging about how they can now afford that superbowl commercial or how they should hire xyz stuntman or celebrity to endorse Dash.

In short it invites a committee of non believers with values opposite the bible. This happens all the time with churches now - the focus is on growing numbers so they can get more in donations. And their doctrine changes as well.

As the saying goes, serve God or money (mammon) but not both. One is master or the other.

This is cool but the total supply of the coin is too much, this may go down to almost 1 sat with the bull of bitcoin.
I set up my miner and running.

It's a bit hit and miss. Some items ship here, some don't. But I believe there is an Amazon Australia site coming very soon which is supposed to also service NZ.

Thats cool, yeah I hope it does at least propel us high enough to allow our IT budget to have a full blown IT dept! That would be nice to make this a full time business with an office.  Anyway we might already have the ability to go to NZ.  Does Amazon deliver to your house currently?

In all honesty Rob, this could be the feature that propels BBP high up the rankings. People want to buy stuff with their crypto and this is difficult at the moment.

There is a service in NZ from our post company which gives you a US address (it is a warehouse owned by NZ post). You ship to their US address and they ship back to NZ.
I wonder if it will work for this...

https://www.nzpost.co.nz/tools/youshop

I wanted to mention a feature we have coming at Christmas called E-commerce.

It lets US citizens buy products on amazon through the wallet (primarily because the wallet only supports address validation in the US at this time).  We are working behind the scenes getting Walmart on board also.  I have been notified that Europe deliveries will be possible in a few months if we have some volume in the US test market.

Anyway the reason I mention this is the pool website has additional new fields in the account settings page for name, address, city, state, phone.  I just wanted to say this is only required for E-commerce for Pool purchases.  Not for wallet purposes.  So we are not trying to track you, the fields are optional, and those only need to be filled out if you want to buy some Great Tribulation food in the Pool.

As far as buying from the wallet, I'm working on this guide:
http://wiki.biblepay.org/Ecommerce

There will be fields in the client that allow you to buy directly from the wallet without the pool.

Hopefully we will be the first crypto with built in Amazon products for sale.  Now you can spend your biblepay on real products.

Thanks!  Thats right, and there are a few things about crypto you have to realize.  (Unless you create a new crypto with external contracts).

Imagine if Bitcoin claimed to have a halving schedule of 4 years and then every year they issued a mandatory with a rule change that increased the coin supply and halved the halving rate.  Would you trust them?  Thats part of the issue.

The other issue is once a crypto has more than a few service providers, it is a Huge undertaking to issue a mandatory change in the client.  You need a 2 weeks notice, and every provider needs notified to be put in maintenance.  This is because if an exchange runs a forked version funds can be lost.

In this case its more important for us to have integrity and show we do what we say we will do every time.

You can always hope the price settles back down for a little while and then quickly buy enough for one.

But changing it now would be extremely unfair to the people who have purchased BBP in recent days simply to get enough for a sanctuary. If there was someone who purchased all of the 1.55 million BBP at a premium price in the last few days, then that person was told actually only 100k is needed, then they will be annoyed that they spend way more than they need.
Additionally, if that were to happen people would dump their excess coins on he exchange and lower the price.
Out theoretical person will then have purchased 1.45 million more BBP than needed at a premium price and could not get their money back due to the drop in price.

Additionally, and more convincingly, Rob has given a final price. I believe him to be a man of his word, of integrity, and I don't expect or want him to go back on his word.

It sucks if you don't have enough to run a sanctuary (I don't) because you feel locked out, but it is better for Rob to keep his word. So I am happy.
In the end, we have to keep in mind that a big reason why we invested in BBP is for helping those in need. So let's not bicker about something like the price of a sanctuary which isn't going to change in the near future.

Nothing is too late to change. Everything is possible with God!

I just realized that the ones who got in early already got a 10x value in their investment. So I do think good providence would favor lowering the prices. from $750 to $7700 in only 3 weeks or so? sounds like a great ROI already!

At 30 sat per bbp, and btc at current ($17,100 -- !!@!@!), the nodes cost $7719

10x more than they cost only 3 weeks ago?

thats lubricous speed!!

ship has sailed..bye bye ship!!

The problem with having it as low as 100,000 is that we would end up with hundreds of sanctuaries each giving a very small ROI.
Although it is hard to get to via mining, the ~1.5 million value it is set at is good from the perspective of having a reasonable ROI (Rob estimated 2.5 years for complete ROI, if I am remembering correctly).
If we ended up with very few (less than 100 or so), maybe we would need to reassess.

Sorry, but it is already 1,500,001.  The problem is people bought in based on the escrow price we set on Thanksgiving.

I thought about it and I cant change it next year as that would mean the people who bought in at a high level risked more and then we changed the formula on them.  The only way we can change it in the future is if we have < 100 masternodes after 6 months in prod.

In addition you have to realize there is no time for a vote now.  We only have 10 days to finish the mandatory client and notify ccex of a coming mandatory.

So its pretty much too late to change anything now.

Thanks for that Rob, that makes a lot more sense now that I see the unit is incorrect on block explorer. I am still learning so I hope you can bear with my naive comments and questions!

Yes lower price would make sense. Maybe put the price of the nodes up for web forum vote right now? The original price must have been determined at the price at that time and whatever forecasted needs. So as btc/bbp price goes up the price can scale down to meet the same forecasts. That would be the most fair thing to do I think. I just think its out of reach to any common person right now.

My only interest in this is I would love to do a lot of good ideas on top of biblepay. Id love to be a part of the development team and I feel excluded in having a stake in the success if I cant even get in one node.

If the sales of nodes meets your budgetary needs for 2018 and of course personal profit as is well deserved, then why not attract an ARMY of devoted developers who each have a stake in the 'company'. That audience will be more productive than just rich miners that want to see more coins coming their way so they can sell them quickly.

Something around 100k would be my vote. that would be attainable to mine within 8 months.

Be flexible cause like open source, you will see exponential value and results when people have the right rewards and sense of ownership

Lets look at this issue from a high level.
We have two pools that solve about 25% of the daily blocks.  We have 202 blocks per day.
Pool.biblepay.org is pulling 21Million Hash Per Sec (thats 21MHS).  MinersOfMen is pulling 2 MHS.  Thats a total of 23 MHS.
(Since the pools solved about 25% of the daily level, we increase MHPS to total network MHPS here): So that means our total network MHPS is about 90~ MHS.  (Thats probably where we round down to 79.71658 MHS).
So I believe the issue is the block explorers need adjusted to be 79.71658 MegaHashPerSec.

Or our wallet needs adjusted to emit MHS in getmininginfo.  
Background: We were going to do that last month when Happy Merchant was around, but we decided since f8000 actually changes the hashspeed, we would wait and tweak it with f8000 in 20 more days.  That is a leisure upgrade anyway, so I can help do this around Christmas.

Moving on to the pool solving 34 blocks over the last 24 hours, running at less effiency, I do want to say that it is very obvious the distinct miner count jumped from 1100 to 1500 over the last 24 hours!  So we have actually increased miner count almost 40% in one day.

Next the diff being 28267 currently is Very, very high.  This is not linear either, so you cant say with a 28267 diff - that we are only double the diff we were yesterday.  

Anyway bottom line is Im going to make this assumption: With 400 new pool miners in one day, its very possible a certain percentage of them are solo mining and solving blocks.  Why we have 75% solo miners out there and two pools, I cant answer.  All I can say is I can promise you every solved block by the pool address gets paid by the pool.  Ill give you the pool address and you can run your own report if you dont trust me.  We have a command called getsubsidy height.  You can write an rpc report or Alex could probably put a page in the BX that shows blocks solved by the pool (he can mark Minersofmen and Pool) and you can compare that daily 24 hour coin emission to the BX if you want.  Alex, are you up for that, sounds fun huh?

You all have the capabilities to audit the chain and find out whose solving the other 75% of the blocks.  Its not the pool.

EDIT: I almost forgot one extremely important point, 10% of the blocks are tithe blocks, so these go to the orphans, so that only leaves 65% for non-pool miners.  Since we dont report on the tithe blocks in the pool as they are 0 value.

Dash has about 4,500 active masternodes (currently worth almost 700,000 USD each). People are/were buying and selling them all the time. As project grows distribution is better. Masternodes are core infrastructure, they are costly a risky for the owner. They require extra investment and extra faith if you wish. They should also provide extra benefits in return. Mining also requires extra investment and effort. Development requires extra investment and effort. Bible is not about socialism where everyone's has to have exactly 1,000 BBP. There are rewards and Jesus Himself stands that "...whoever has, to him will be given and he will have abundance....(Matt 13:12)" but "but do not forget to be doing good and sharing, for with such sacrifices God is well pleased (Heb 13:16)". And I believe BiblePay model fulfills this. So (especialy if you are a Christian), please don't start to spread communism and socialism here. And if you still think that is what Bible tells us, please read it again.

Slovakia, you dont sound like a Christian anyway, as you generally include profanity in your posts.  If you want a reply Id suggest removing the profanity otherwise I will delete them.

Profanity, one of the 40 sins that can send you to hell, one of the sins in our wallet in Repent for Sin:
https://www.openbible.info/topics/using_profanity
But now you must put them all away: anger, wrath, malice, slander, and obscene talk from your mouth.
Collossians 3:8

OHHH, How lovely, now you say Ive stolen blocks Before?  This, from the same person that claims I steal the orphans money?  Oh my, how original Slovakia.  So, how did I go about stealing blocks before?  

Finally on the Sanctuary cost, weve had the most fair pricing requirement possible.  I deliberately set the pricing to allow time for early adpoters to buy in for a sanctuary early, made a cheap cost per unit currency, and even waited until Thanksgiving to set the price @ $1250 with a baseline, and now since the price suddenly jumped, which I remind you happened AFTER I announced the price of the sanctuary, you are crying that its unfair.  You had 90 days to buy it.  Sorry, start saving.  Btw, the price was never changed. 

I don't know anything about kucoin exchange. What is their listing fee?

I think, that Kucoin will be good option. They are new and new coin adding almost every day.

Nice thread, im down with Biblepay now too. will set up account after trawling through this long thread. Its good your up front about your plans and how it helps children in poverty. I wish use all luck with this