I really don't understand what's the deal with the amount of coins? Just move the decimal?
Coins will be worth less but you will have more of them? So instead of having to think in terms of having floating numbers you can maybe have nice integers (having 0.000001 bbp vs having 10 bbp?)
10 000 JPY is worth 90 USD? People just have more JPY? that's it.
Coins will be worth less but you will have more of them to make up for it. I really don't understand what's the big deal about it.
Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 826. (Read 243376 times)
November 29, 2017, 10:12:39 PM
November 29, 2017, 10:06:18 PM
Good to see the price break higher. Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.
It was me guys. I had to make my final point and demonstrate how easy it is to pump up the price when you can mine so much coin. LOL
(i wish!)
In all seriousness this goes to my point on how 'powerhashers' can manipulate prices.
The sell right now is at 15 sat and the buy is at 10. So if you have 100 bbp you cant sell at 15 cause there are so many coins in the line in front. So you have to sell at 10.
This demonstrates a weakness in the large volume of coins. Unfair distribution and price manipulation
November 29, 2017, 09:29:35 PM
I did not buy, I only mine..CC
November 29, 2017, 07:50:34 PM
Good to see the price break higher. Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.
Its clearly someone whos buying to get a Sanctuary, the announcement and this "pump" is related...
November 29, 2017, 07:09:31 PM
Good to see the price break higher. Would be nice to have an uptrend instead of sideways.
Wow, just saw that. Who is pumping and dumping?Edit: Let me reassess. It could be a pump, or it could be people rushing to buy to have enough for a Sanctuary come Christmas.
November 29, 2017, 07:07:51 PM
Good to see the price break higher. Would be nice to have an uptrend instead of sideways.
November 29, 2017, 06:53:13 PM
Hi again,
Respectfully, I disagree. How long would it take you to mine $1000 worth of Bitcoin? Me personally, I probably never could! It is controlled by large miners in various places such as China. The volume of coins for BTC is significantly lower than BBP.
Sure, those who have higher hash get better rewards, but at least with cpu mining in Biblepay the small miners still get some reward. What do you want? Everyone gets an even amount for participating regardless of the work done? We will end up with lots of terrible quality nodes!
Also, you can invest $1000 by buying from an exchange, you don't have to mine it.
As far as emission rate, I don't think any coin has cracked this yet. Mostly because techies are usually not economists.
Ok. I get your position. Its rare to agree on matters of crypoto-economics anyways. That was fun
November 29, 2017, 06:32:23 PM
I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?
Okay i will try to be more clear.
1. 1,250,000 biblepay is about $1000 (i havent checked prices lately but it was $0.0008)
2. who can mine 1 million coins and how long would it take?
3. looking at the leaderboard or the block explorer we see people getting rewards of 10,000+ every half hour it seems.
4. so only top miners can hope to make $1000 in a reasonable timeline
compare this to the 'normal miner' (1 cpu at home maybe another at work)
1. maybe they mine 3-500 a day? so 15,000 a month?
2. 7 months to reach 1.25 million. ($1000)
So you can see the inequality right there. correct?
As for could this happen with any other coin. No because of the volume of coins compared to biblepay. A low volume coin would not allow a miner to accumulate millions of coins very fast. Which means the coin is not attractive relative to other investment opportunities with their CPU powers.
I hope that explains my position a bit better. Maybe my analysis is wrong but that is what I can assess with the information I have seen.
Hi again,
Respectfully, I disagree. How long would it take you to mine $1000 worth of Bitcoin? Me personally, I probably never could! It is controlled by large miners in various places such as China. The volume of coins for BTC is significantly lower than BBP.
Sure, those who have higher hash get better rewards, but at least with cpu mining in Biblepay the small miners still get some reward. What do you want? Everyone gets an even amount for participating regardless of the work done? We will end up with lots of terrible quality nodes!
Also, you can invest $1000 by buying from an exchange, you don't have to mine it.
As far as emission rate, I don't think any coin has cracked this yet. Mostly because techies are usually not economists.
November 29, 2017, 06:22:22 PM
I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?
Okay i will try to be more clear.
1. 1,250,000 biblepay is about $1000 (i havent checked prices lately but it was $0.0008)
2. who can mine 1 million coins and how long would it take?
3. looking at the leaderboard or the block explorer we see people getting rewards of 10,000+ every half hour it seems.
4. so only top miners can hope to make $1000 in a reasonable timeline
compare this to the 'normal miner' (1 cpu at home maybe another at work)
1. maybe they mine 3-500 a day? so 15,000 a month?
2. 7 months to reach 1.25 million. ($1000)
So you can see the inequality right there. correct?
As for could this happen with any other coin. No because of the volume of coins compared to biblepay. A low volume coin would not allow a miner to accumulate millions of coins very fast. Which means the coin is not attractive relative to other investment opportunities with their CPU powers.
I hope that explains my position a bit better. Maybe my analysis is wrong but that is what I can assess with the information I have seen.
November 29, 2017, 05:52:23 PM
Am I the only one who thinks there is to many coins???
Yes it is too many. Not sure why this was done
I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was
Perhaps you need to see the bigger picture. A lot of coins means manipulation is possible by the top hashers. And only they get the $1000. If there are less coins that would not be possible correct?
I'm not sure I fully understand what you are saying.
Why do only top hashers get the $1000?
Why is it not possible for them to manipulate if there are kess coins? Don;t they do this with BTC, BCH etc?
November 29, 2017, 05:47:21 PM
Am I the only one who thinks there is to many coins???
Yes it is too many. Not sure why this was done
I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was
Perhaps you need to see the bigger picture. A lot of coins means manipulation is possible by the top hashers. And only they get the $1000. If there are less coins that would not be possible correct?
November 29, 2017, 05:36:02 PM
Am I the only one who thinks there is to many coins???
Yes it is too many. Not sure why this was done
I never understood why people say there are too many coins for something. It just lowers the price per share.
If you invest $1000 and the price doubles, then you have $2000, regardless of what the price of that share was
November 29, 2017, 05:31:03 PM
Am I the only one who thinks there is to many coins???
Yes it is too many. Not sure why this was done
November 29, 2017, 05:18:03 PM
adrianbits 1 question for you=didnt exist wars because of money,faith....... 85% of world living in penury ....
nexz question pls
2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy
nexz question pls
2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy
Im sorry i did not understand your response. but I am interested in it if you can type it again with other words!
November 29, 2017, 05:14:23 PM
adrianbits 1 question for you=didnt exist wars because of money,faith....... 85% of world living in penury ....
nexz question pls
2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy
nexz question pls
2bfree you saw wiki how working this coin and why exists so much bbp? check it ... its so easy
November 29, 2017, 05:10:52 PM
Am I the only one who thinks there is to many coins???
November 29, 2017, 04:59:50 PM
All Money
https://i.imgur.com/6IphL1q.png
Moon Math
http://www.bitcoinmoonmath.com/
===
1 Bitcoin is out of most peoples reach now, theres been talk on reddit past few months of using smaller unit:
mBTC (0.001 BTC) [millibits]
bits (0.000001 BTC)
satoshis (0.00000001 BTC)
I remember reading that Bitcoin is infinitley divisible
https://bitcoin.stackexchange.com/questions/19661/how-is-bitcoin-infinitely-divisible
"additional decimal places can be added with consensus of the network"
https://i.imgur.com/6IphL1q.png
Moon Math
http://www.bitcoinmoonmath.com/
===
1 Bitcoin is out of most peoples reach now, theres been talk on reddit past few months of using smaller unit:
mBTC (0.001 BTC) [millibits]
bits (0.000001 BTC)
satoshis (0.00000001 BTC)
I remember reading that Bitcoin is infinitley divisible
https://bitcoin.stackexchange.com/questions/19661/how-is-bitcoin-infinitely-divisible
"additional decimal places can be added with consensus of the network"
Am I the only one worried this is going to be very bad news for the local economy?
Imagine (not even imagine now!) everyone is suddenly much richer because they held a few bitcoins.
Dont you think they would quit their jobs or buy up everything around them?
It will lead to an inflation in local currencies as storekeepers raise their prices to keep up with this new money flooding in.
That might sound great for you if you have bitcoins. But what about those that dont. Do you think they will be content to learn they can no longer buy basic needs while their neighbors are living it up? It can only mean social unrest if we stretch the scenario.
And let us stretch out a bit more. What will gov response be to this inequality and inflation? Hand outs? price controls? trade wars?
There are two sides to the moon after all...the bright, and the very dark...
Am I wrong?
November 29, 2017, 12:01:11 PM
togoshigekata you got bug in your screen..... now is market cap BTC over 186 mld $
bible_pay added BBP to Binance?
bible_pay added BBP to Binance?
November 29, 2017, 11:17:19 AM
All Money
https://i.imgur.com/6IphL1q.png
Moon Math
http://www.bitcoinmoonmath.com/
===
1 Bitcoin is out of most peoples reach now, theres been talk on reddit past few months of using smaller unit:
mBTC (0.001 BTC) [millibits]
bits (0.000001 BTC)
satoshis (0.00000001 BTC)
I remember reading that Bitcoin is infinitley divisible
https://bitcoin.stackexchange.com/questions/19661/how-is-bitcoin-infinitely-divisible
"additional decimal places can be added with consensus of the network"
https://i.imgur.com/6IphL1q.png
Moon Math
http://www.bitcoinmoonmath.com/
===
1 Bitcoin is out of most peoples reach now, theres been talk on reddit past few months of using smaller unit:
mBTC (0.001 BTC) [millibits]
bits (0.000001 BTC)
satoshis (0.00000001 BTC)
I remember reading that Bitcoin is infinitley divisible
https://bitcoin.stackexchange.com/questions/19661/how-is-bitcoin-infinitely-divisible
"additional decimal places can be added with consensus of the network"
November 29, 2017, 08:01:39 AM
Was just playing around with the new "Block History View" which Rob implemented.
For the last 512 blocks which the pool has found, the block reward has these statistics:
mean: 9324
median: 9381
mode (most frequent payout): 5000
The distribution is interesting. It makes me thankful that Rob implemented a 5000 lower reward
Yeah Im glad we put that variable diff reward in also, otherwise we would have been flooding c-cex with lots of coins.For the last 512 blocks which the pool has found, the block reward has these statistics:
mean: 9324
median: 9381
mode (most frequent payout): 5000
The distribution is interesting. It makes me thankful that Rob implemented a 5000 lower reward
If BTC keeps rising at this rate ($100 a day), we'll be trading at 1 satoshi for our fair value (the minimum level on c-cex) and will not need to check our price LOL, we would have 20BTC of volume at 1 satoshi, no other entries on the buy side and a full sell side, unbelievable BTC is doing this.
I had a fish-tank miner once where the machine was under the oil (it was mineral oil) and mined 7 million $ of BTC, and here is how much of that I have today : ZERO. The hard drive went, the oil went all over the floor, and I kept the drive around for a couple years, when BTC rose to I think about $10K of value I installed an elaborate sector program that retrieves data from the drive sector by sector and actually found the wallet.dat file. But, I couldnt get the key out because part of a windows file overwrote the key LOL. So yeah, I doubt I would have that money even if it rose to $50k as I probably would have cashed it out back then...
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