Biblepay is moving forward but & nice logo... just curious about few things:
1) Latin terms in logo? Any special reason for that... is that a Roman Catholic or Vatican project or what's the reason for that?
2) You're using (probably unintentionally) false statement about money supply: BiblePay is not deflationary currency like it's stated but it's actually highly inflationary crypto with quite rapidly decreasing inflation rate in time. Just to be accurate! There are some non-inflationary - and theoretically deflationary cryptos (like NEM or ).
We have absolutely no ties to Roman catholicism or the Vatican. As a matter of fact, Im particularly ANTI Roman-Catholicism myself, primarily because I believe in pure Christianity, with the bible exactly static and Jesus the sole soul arbiter (
https://www.jesus-is-lord.com/cath.htm). The Latin logo phrase was chosen to be a universal truth.
All right, we are at the same page here and language you've chosen is completely up to you, I was just quite surprised because Latin church circles were most of the history strongly against the original Bible text and they either persecuted Bible holders or at least tried to modify the Word so it looks bit weird to me to see Latin verses together with Bible, that's all.
On #2, Oh I pray this can end here. If this gets out of hand or disrespectful, this conversation will end, but the truth will stay.
I will clarify that we have a Deflationary Emission Schedule per Block. According to your definition of inflation (an expanding money supply), you obviously believe bitcoin is inflationary (because their money supply is expanding still) even though, they halve the reward every 4 years and have already printed 95% of their supply into existence. The problem is, I dont think the exact quant definition of inflation describes us well or that moving 5.2 billion coins of money supply into the genesis block magically makes us deflationary either. I think we just need to exactly say that we have a deflationary emission schedule from Block #1, Every Month, therefore we are deflationary. And Bitcoin is deflationary, because they halve the reward every 4 years. And the Default Deflationary reference is to the decreasing supply component, not to the total money supply. And relatively speaking, BBP compared to Global G5 central bank money supply, we are highly deflationary, in the sense that global dollars are inflating at a 15% rate per year, while our emission schedule is deflating at a rate of 19.5% per year. So you are arguing since NEM was completely premined up front, its more deflationary. But technically I could argue that as NEM releases coins into the market with their algorithm, (from the premine cache), that component is inflationary.
To be accurate we have to define what constitutes the inflation component: releasing coins in the coinbase, or releasing coins from the algorithm (both), or an expanding total money supply. The rate of coin release is more relevant than an expanding total money supply on inflation.
And for the average blue collar person, it IS useful to know that holding Crypto-XYZ relative to G5 is deflationary. I would say holding Bitcoin relative to G5 is deflationary, but obviously constitutes market risk. Holding Biblepay relative to G5 is deflationary. Our deflation argument must define deflation as Deflationary per Block emitted, not Deflationary relative to decreasing total money supply. (I have a strong reasoning other than this, to back this up, stronger than the textbook definitions, as textbook definitions dont take into account the niches in crypto: In crypto there are also more components involved that are very real: Lost coins constitute an approx. 20% decrease in total money supply per year, human population increasing at 75MM per year, and Nielsens law - internet use is up by 50% in 3rd world countries per year, among others, etc).
Besides, people in the real world have no clue how many total dollars in m1 & m2 are actually circulating. They care about the purchasing power of each dollar.
Your arguments are mostly reasonable and regardless what you've written, calling the Bible Pay as simply deflationary is just incorrect. Bible Pay is not deflationary neither in terms of purchasing power (you cannot assure purchasing value/price level of BiblePay in time) nor in total coin supply in time (at least for many years). I would expect you as a christian to use correct terms. No offense and rather pray for more precision than for the end of discussion.
I'm sorry that you didnt understand my reply even after I stated in detail why we ARE deflationary. I said clearly that we have a deflationary reward, just as BITCOIN has a Deflationary Reward, and Clearly how that is a TRUE statement.
And, I went on to explain how your single example was inaccurate because NEM injects (IE prints) money from their 100% premine cache later, which is technically inflation by your own definition (you cant have it both ways).
This project is credible, and I dont want people of questionable knowledge coming in and accusing us of posting something inaccurate.
