Topic: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes) - page 832. (Read 243130 times)

Sorry for the editing in my previous post. I misread the BTC block time.

I just wanted to clarify that BBP block is between 5000 and 20000 depending on difficulty so in terms of max coins 1 block is between

0.000096% and 0.00038%

of total max coins

But hang on, the number of coins doesn't matter at all, what matters is the price of those coins (or the sum of the price of all coins, i.e. the "market cap").
If you mined every BBP coin in existance you wouldn't even make $200K.

BTC has 50 coins/min so in the 7 min block time of BBP that is 350 coins BUT the max number of BTC is 21 million.
BTC has 50 coins/10 min so in the 7 min block time of BBP that is 35 coins BUT the max number of BTC is 21 million.
In 7 min BBP produces MAX 20,000 BBP coins BUT the max number of BBP is 5.2 Billion.

Therefore in a 7min block time BTC is emitting 0.00166% of total coins
Therefore in a 7min block time BTC is emitting 0.000166% of total coins
and BBP is emitting MAX 0.00038% of its total coins.
Edit*  So reasonably equivalent*

I realise this is a tricky concept, but please be humble enough to at least consider that Rob is trying his best to do the right thing.



Regarding exchange fees, yes they are a real hassle. You can of course trade with someone without an exchange through some forum. I hope the concept of decentralised exchanges takes off so these coin exchanges are not run for profit.

Also, 50 coins a day? That seems low. What machine are you mining on?
Current letter bounty is 1700 or so...


EDIT: Misread the BTC block time, adjusted calculations

Also, I don;t understand what you mean here

"how can that new comer ever expect to sell a coin if the market will be flooded with sell orders from the 'power hashers'? its an unfair distribution of 'wealth'"

You can just sell to the highest buy order?

I think fair distribution is a problem for most cryptos. It is a challenging thing, and there are very few economists who seem to be working with coin devs to work on this issue.
The fact is, people who got in to mine early get better reward for their hashing time than those who get in later on. This can't be helped with current coin emission statistics (for most/all cryptos).
Rob has tried to address this issue in a variety of ways, the latest being to try to stop people running multiple  instances on a multi-core machine.

If you look at BTC it is impractical to mine it unless you have a supercomputer with crazy hash and free/dirt cheap electricity. The cool thing about BBP is that the reward for mining should be more fairly distributed, since it is is of no advantage to mine using GPU rigs, or with the new update, with more instances on a multi core comp.

This is never going to stop the fact that people can run 100 computers and mine way more than someone who mines on 1 comp.

Other things Rob has done is introduce a faucet, pay to write to orphans (the reward is quite good for a good letter), and is looking to reward linking to good articles. This will help smaller miners to generate income.

If you think about it, if someone in a poor country can earn $2 a week through faucet, mining, writing letters, linking to articles, that could make a huge difference to their life.

Yup it just affects if the api panel is displayed or not!

For the second thing, it just wants actual valid data to make valid links if you have the api panel showing. So it can be anything as long as it exists on the blockchain!

Edit: @Slovakia Fixed the networkhash and difficulty display.

Hmmmm interesting, these are my settings, I guess API still works if the menu setting for it is false?:

  // menu settings
  "display": {
    "api": false,
  },

I wasnt sure what to put here, does this part matter?:

  // ensure links on API page are valid
  "api": {
    "blockindex": 1337,
    "blockhash": "1733320247b15ca2262be646397d1ffd6be953fa638ebb8f5dcbb4c2b91b34f1",
    "txhash": "f270cd3813254c9922a2e222a56ba745842d9112223a1394062e460b33d27b7e",
    "address": "RBiXWscC63Jdn1GfDtRj8hgv4Q6Zppvpwb"
  },

Thanks Alex!

@Togo

If you chose true in the settings for the API then it is is enabled!

(Just tested and it looks like yours is enabled http://explorer.biblepay.org:3001/ext/getmoneysupply)

Then it is just a matter of displaying "real" transactions if you want to enable the panel.

Good suggestion. I'll look at doing this in the New Year.
I think we should try to make BBP wallet as easy to use as possible. It has some fantastic features, but it would be cool for tech noobs to be able to pick up easily

I dont know MinersOfMen, is NSummy here?

The C-cex deposit address is : B6gscRo5SyR6EsR7iLdhJxtHu84ALNn93i.

Yeah, the Diff does need to be adjusted by the /10.  That was a biblepay change, so its not a bug for them

On the hashrate, I was starting to ask happy if he wanted to add up the pool.biblepay.org+minersofmen KH/S (since we have the exact number in the pool) and reverse engineer the total hash rate, then send me that factor and I will update the wallet code.  But- now that f8000 is coming in just 30 days, we should do that in testnet instead.

Hahaha, was an interesting experience  , here is the block explorer I made:

http://explorer.biblepay.org:3001/

Looks like Alex got the Explorer API set up, I wasnt sure how do do that part
I went with the Lumen theme, I think I got CCEX Market price working but didnt get buy/sell orders & volume working

I made notes through the whole process, so I will publish those later  

===

I noticed:

Wallet getinfo "difficulty": 4963.98773942109
Explorer Difficulty 49639.8773942109

Looks like the explorer x10s the difficulty it displays? I can report this if it is a bug

===

Also, note about hashrate,
I didnt know Giga meant 1 billion: https://bitcoin.stackexchange.com/questions/9219/what-is-the-difference-between-kh-s-mh-s-and-gh-s

===

Does anyone know the addresses for the MinersOfMen Pool and for CCEX?

Yeah, definitely.  I let coinmarketcap know of the new explorer.

EDIT: We can work on total networkhasps in testnet before f8000, we need to calibrate it.

why diff flying from 3000 to 20000 when nethashrate is still stable? very weird

Haha, it's better to have more than not enough! At least now we have some kind of redundancy!

@Slovakia Just noticed that, must be a unit issue or something.

Edit: Oh also, it's just a default theme (Simplex)

Wow, thats very impressive dude.
Hey, I was just going to post that Togo stayed up all night setting up a block explorer   OH NO.

But anyway, thank you very much for your help.  Now we have 3!

I really like the graphics.


http://biblepay-explorer.org

Found some time so I decided to quickly set up a block explorer biblepay-explorer.org

Why don't you contact those orgs and ask them if they would be interested.  Chances are likely they won't be right now, but the sooner and more often they have people asking about them then the better chance we will have of getting them to accept BBP. 

I think being listed on CoinExchange would be a big step up for BBP. The price of 2BTC is reasonable, given what others are charging.
My opinion is that it is worth the cost.

I think after that we should consider some of the decentralised exchanges that are coming out. We should be able to get listed for cheap/free on some of those. It remains to be seen how popular these will be, and if they can get as big as Bittrex, for example.
There is also a new exchange coming out in Aussie which will list coins for free. I will keep an eye on how they are going (currently they are raising capital).

Increasing volume by getting on new exchanges and the sanctuaries going on line will be good for everyone. Let's not be naive, this is good for our "investment" in BBP. But additionally, and most importantly, this will allow us to provide more to charity, since our 10% tithe block will go further in the real world.


On a side note, I'd really love to see charities accepting BBP for donations (e.g. UNICEF, TEAR Fund). This "real-world" use case is important and would make us a truely unique crypto and prove our charity purpose.
A secondary use case would be to pay for things on Christian ecommerce sites, but I see Rob has this well under control, integrating with Amazon.

Finally, Rob, I am not "tech-savvy", but if you like I could donate a $5 Vultr server for use if needed, someone else would need to set it up etc.

look at others coins how started...

https://masternodes.pro/

its trick what is best   check started mining and check started masternodes and expansion to biggest markets = its easy

bible_pay: btc can goes to the moon,but on the otherside can dump extremly .. you must to see 2 coins

Let me throw my 2 cents in.  In my other slack team, we were on a small exchange for a year before we decided to push for a bigger exchange.  I too at the time thought additional exchanges would not necessarily increase volume, but thats absolutely false.  When we were listed on 2 of the big exchanges (bittrex and poloniex) our volume sharply increased (up to about 7BTC per day for a while, just by exposing ourselves to the other exchanges traders).

So there is some intrinsic value received by expanding to other exchanges who have significant volume.  Meaning that if you annualize the volume, lets say we received 1BTC per week = 52BTC of volume off of coinexchange.io, that would potentially be about 5.2 BTC of new investment into BBP.  In one year.  Meaning that we received $60,000 of growth for an expense of $16,000.  I look at it as a positive step, because that would mean the ability to sponsor more orphans.

What would happen at Christmas is we would emit this block that drops our price down to .04 satoshi, and probably fall short of the payment, which I can cover.  Then over a year we would probably make it back in volume.

Thats my 2 cents.

Also, I dont think we should do this on other exchanges, I think after this we should wait until they approach us and offer us a very good deal.  I would just like to see us on a couple decent exchanges so we can focus on growing.

Based on CoinMarketCap's 24 Hour Exchange Volume Ranking:
https://coinmarketcap.com/exchanges/volume/24-hour/

===

C-CEX ranks #67 at ~2.3 mil volume
https://coinmarketcap.com/exchanges/c-cex/

CoinsMarkets ranks #101 at ~400k volume
https://coinmarketcap.com/exchanges/coinsmarkets/

CoinExchange ranks #38 at ~10 mil volume
https://www.coinexchange.io/
https://coinmarketcap.com/exchanges/coinexchange/

===

So almost 5x more volume past 24 hours on CoinExchange than C-CEX

Is it worth 2BTC (~$16,000) to get listed on CoinExchange?

What are the pros and cons of getting listed on more exchanges?

Should we save the money and get listed on an even bigger exchange?

===

I don't have enough experience to know the answers,
From my own personal journey getting into Bitcoin and then altcoin trading,
I remember seeing Poloniex and Bittrex mentioned a lot on the subreddits