Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 825. (Read 243376 times)

Ok yes i understand a bit more thank you! I will be one of those who putt-putt-putt mine for 'forward value'. That is why i asked earlier what kind of stronger features the coin will have to increase its value. Charity function is awesome do not mistake me

As well could you address this theory of over supply keeping prices low? If the top miners keep creating coins, then sell them, then do it again, over and over wont that continually setup a lot of supply with less demand? The demand side i see is people wanting to buy a masternode. What else would/could drive the demand? Again this relates to the idea of more, stronger features to drive demand.

I hope I am expressing myself correctly. Right now it seems there is a circle. The miner makes  a lot of coins, to sell a lot of coins, to people who want to buy a masternode to get more coins. So they get the masernode, and it generates more coins for them. So they sell them. For more masternodes. etc. Repeat cycle. Maybe this is the nature of crypto right now and biblepay is no different? Well, of course there is one difference with the children and that is very good.

There are a lot of nuances to what you said above, so the answer is multifaceted and long winded.

Let me try to cover the tips and you can ponder and google between the lines.

The (crypto exchange) market at the money fills Market orders.  So if you sacrifice time (IE convenience) for price, you settle for the "market" price (thats .0011 per coin) in USD.
If you have 500,000 to sell and you dont sacrifice time, you can set Limit orders up.  There is a chance over time those will be Hit.

We also have to consider the forward value of BBP.  Some like myself, believe we will appreciate over the next year based on G5 inflation and our deflation, technology, sanctuaries, and being a good investment for the future.  So some are actually mining based on our forward value.  The reward of 10,000 BBP means a newer PC earns about 500 coins a day (IE $18 a month) which is about break-even for electric rates and depreciation (of the computer).

Short answer: If you are in a hurry to sell, just put a sell order 1 sat lower than the current lowest sell order.
If you are not in a hurry, put it anywhere you want. Add it to the current lowest sell order. It will take longer, but at least you are next in line and ahead of others.
"Please explain how i could sell 100 bbp at 13 sat if its saturated with coins?" You practise patience. Get in line behind the current guy but before the next guy!

Some large miners will sell all coins they mine, others will hold to run one or more sanctuaries. Right now it may not be worth you selling, but it may be better to hold onto the coins until more features are added and the demand for BBP grows.

The short of it is if you are here to make a quick buck, you are probably better mining Monero or something else.

Also, regarding transaction fees from exchanges. People can convert BBP -> BTC, then BTC -> LTC and the fees should be cheaper (I haven't checked that...)

Well they are not just using one computer, probably.

I am still curious how the top people are pulling that high of numbers on just a processor.  It honestly just blows me away the differences in numbers that I am seeing.   

Compassion will translate.

In the Orphans List > View Biography > Child Biography it shows the Correspondence Language Is this the language we should use to write the letters, or does Compassion translate them into the child's language?

I am probably wrong i do not know. I am new to this so please be patient and help me understand.

Right now the exchange shows that to sell at 13 sat, there are 568696 coins available

0.00000013   568696.06475821

the next tier 14,15,16 is the same.Flooded with coins.

So say i have 100 bbp i want to sell. As i understand it, again I may be wrong, but I cant sell at those prices because there are already a huge amount of coins in front of me that will sell first. correct?

So i have to always settle for the buy side of 12 sat.

With my capabilities, I could never hope to get 500k coins to sell. That would take at least a year.  In that year what will happen? The same miners would be continually pumping out coins to sell and create these walls that small, normal miners could never overcome. I would always have to settle for the highest buy bid which is the lowest price.

Am i wrong in my thinking? Please explain how i could sell 100 bbp at 13 sat if its saturated with coins?

I think in the longer terms this will keep the prices of the coins always in the sub 100 sat level. Miners with greater hashing power will always turn around and sell very large volumes for profit. More new miners will enter to do the same. At some point the difficulty will increase and this dynamic may slow down. But in all that time the normal miner cant hope to make a profit.

Again I may be totally wrong but that just seems to be how this is going at the moment.

Thanks in advance for any correction of my thinking.

Thats wrong, you can still sell at 15.  This concept applies to much more than altcoins, you see it in penny stocks too.  This happens when the trading volume is low.  When its high, there are thousands of trades and the buy and sell are seperated by a penny or some other low amount.  When its low volume the buy and sell are further apart.  If you really want the coin, you will pay for the higher ask price.  If you don't you will stick with the low bid.  On the other hand, if you really want to sell, you will sell for the low bid price, otherwise, you stay at the higher ask.  Eventually the buyers and sellers will inch their offers forward.  Like if I really want to buy and the high bid is 10 sat, maybe ill put in an order for 11 sat.  A seller might really want to sell, so they will put in a sell order at 14 sat instead of 15.  When volume gets high enough, the numbers meet.

Binance put up 12 coins for voting, we didnt make the cut 
https://twitter.com/binance_2017/with_replies

Okay lets aim for a penny then LOL.
That would be 10x its sat value right now. At btc of 10k.

So how to make it 10 times better would be a better question

While I'm a huge fan of BBP, I don't see any new coin outdoing the main established coins of BTC, ETH and DASH.   BBP has a lot of potential, and I am hopeful for great things, but consider if BBP became a top 100 (by market cap coin) by the end of next year.  BBP should have in rough numbers, 1 Billion coins at the end of 2018.  Right now the Number 100 Coin (on CoinMarketCap) is Aragon worth in rough numbers $50 Million.  To hit that would put the value of a single BBP at 5 cents.  To be a top 20 coin, would be a single BBP worth close to one dollar.  To exceed dash it would be over five dollars.

Again, I would love to see that happen for a myriad of reasons, but it's not a likely scenario.  But with the IT budget coming, and a PR budget, I would think it reasonable to think the coin will continue to grow and improve which should increase the valuation.  Which is a good thing for those of us who are early adopters, but it's also a HUGE deal for the charitable aspect of the coin.  This coin is making an incredible difference in the lives of nearly 200 children right now.  If the coin price were to increase ten-fold, the benefit to the Orphan Fund would be amazing.

The only difference between a high volume and low volume coin is ultimately divisibility.

BTC is dividable down to the Satoshi (1/100,000,000).  But if instead of 16 Million BTC, there were 160 Trillion BTC, each BTC of those would be equal to the current value of a Satoshi.  High volume coins make pricing easier to comprehend because our brains don't process fractions as well as large numbers.  For instance, at a glance, which is a Satoshi  .000000001 or .000000001 ?  Trick question, both of those are the same wrong answer.  The answer is .00000001.  But if I had asked, which is 100M  100,000,000 or 10,000,000, you'd be able to pick that out in a heartbeat.  In part, it is because our math system uses commas for large numbers but no dividers for fractions.

So in the end, it is a matter of personal preference, would you rather have 1M coins worth $0.001 each for $1000 or 1000 coins worth $1 each for $1000?  In the end, you'd have the same amount, and regardless of if you mined or bought, you'd have done the same work.

The main real disadvantage of a high volume coin ultimately is due to the fact the crypto market is dominated by BTC-2nd coin pairs, and a coin with too high a volume and too low a value cannot be handled by most exchanges since they don't allow for prices per coin below 1 Satoshi.

Thank you for the answers. It is very interesting.

I was over at the dash forums. The thread is from 2014 so over 6000 pages! But what a story it tells from start to over $700 now (?).
I was thinking since biblepay is based on Dash, what kind of features will it need to make it a strong coin? I mean how can it become at least a $1 coin? Is that a possibility do you think? So far I can see the selling point is that it sponsors children. But what would make it even better that many people will want to use it? Over dash, or lite coin or others?

In other words can can biblepay outdash Dash

True yes I have not tried to sell. I have way to little and my hashpower is tiny so I would have to wait many months before it is worthwhile. Also I read the fees to withdraw my btc would make the wait longer. So looks like 6 months from now I may try. On the other hand I hpoe the price goes higher by then. Hodl hodl hodl

In that position, you could sell at 14 sat.  It's actually much easier to sell small quantities, because your order will be filled in its entirety and people probably wont try and sell lower than you because its a small quantity.  Perhaps you haven't worked out how to set your own sell price?

im compiled hundreds machines=cheap VPS for 13 ppl and mininig is nice for all= all told me that is very stable with prices=mining=ROI and we support children ....
and yes exists strong miners in leaderboard on every coins= but will be happy for them,every strong miner is important for every coin in coinmarketcap ....

These are cool charts, thanks!

According to this, the avg daily rate of return of bitcoin has been 2.23%, while the APY at the bank is .85%.

I like the smaller units, and its definitely possible, but they would need to lower transaction fees by 1/100th also.  I think thats why its $17 to withdraw from CCEX.

Well this has nothing to do with the amount of coins, it only has to do with the volume of traders on the coin, if there was 100 btc each side, you wouldn't have been able to do this at all.  Look there some coins that are stuck at 1 sats and 2 sats with tens of BTC on each side.  The supply is not related at all.

Why we aim for a large total coinbase circulation:

- This allows us to emit high volume in the beginning and be Very deflationary (we are 19.5% deflationary per year) and still have relatively high rewards after 5 years.  It isnt until the tail end (2040 or so) when we start dealing with low numbers.
- When we become more popular, the coins are more affordable per unit for the average blue collar person.  (The same reason AAPL reverse split), to make the stock more popular.  
- People tend to lose low value digital wallets.  The average is about 20% of digital minted coins are "lost".  This is due to lost files, lost hard drives, upgrades, all that.  That gives us a propensity to be worth more, if you keep your wallet.
- A more rewarding total investment cycle.  Im hoping we will have some investors see 3-4 zeroes of appreciation in the price over 10 years.
- More flexibility for us.  (IE tipping programs, P2P features, etc).