Topic: BiblePay - New Coin Launch - Official Thread - page 108. (Read 119834 times)

Thanks for the notification on wallet upgrading for pool. I'm now upgrading my ubuntu version by re-compiling the new version from github.

And this is really a good news that biblepay listed at coinmarketcap, this is a good start!

There is also the Recently Added page which a lot of people check because it's very useful, so hopefully more interest is coming our way. It's a pity though that a lot of coins were added yesterday after BiblePay; you can see in the past that usually there are not so many in one day.

Also, there's the All page.

By the way, another coin's twitter feed shows up at the BiblePay page.

Thanks for the update.

Here is the link in case anyone missed it:

https://coinmarketcap.com/currencies/biblepay/


Were #487, so we are on page 5.
The nice thing about starting at the bottom, is we only have one way to go: UP.

POOL FAVOR TO ASK:



The pool is under extreme load, and can barely handle new traffic.

As a stopgap, I ask that everyone upgrade to the newest version of Biblepay-qt (this version was just deployed at midnight last night) version 1.0.2.3.  (If you already have v1.0.2.3 upgrade anyway).

It contains the enhanced miner packet.  (The technical difference is the new version is more efficient on partial work packet communication and communication back-off).  This should alleviate 65% of the pool traffic and give us time to upgrade the server (and or, opensource it and open more pools simultaneously).

I will give 24 hours for pool miners to upgrade, after that, a switch is thrown forcing upgrade to the newest version (The pool has the ability to require the higher version).

Both of those have risks.
Exchange risk is the risk that the owner skips town with every last coin currently held by the exchange (or, simply they are forced out of business one day), and the pool risk is that the pool hot wallet is broken into by a hacker.

I recommend withdrawing 75% or so regularly and leaving small amounts in both places.  Password protect and back up your home wallet and keep a copy of it offsite.

You can always recover your coins from a backup even if you go away for a few months, after wallet is re-synced, all coins are recovered.

This is just an estimate, but the way the price is stabilizing (hovering around 20 satoshis), I think the sactuaries would be approximately 700,000 bbp of escrow each.

Is it safer to keep the coin on the exchange platform or in pool?

Delighted to see BBP listed on coinmarketcap this morning, this will certainly help to attract new interest over time.

I see masternodes/sanctuarys in development toward the end of this year. How many coins are required to run a node?

I think this is one of the main things that will help the coin find it's legs.  It would be frustrating for a novice who didn't read this forum to buy on the third Wednesday of the month only to see the price dramatically drop two days later.  By spreading out the fund sale several times during the week, it removes the incentive for day traders to manipulate the coin and puts everyone on a more equal footing.  While it increases the work, I think you're wise to do that, and at some point you might need to open up that task to another person for a short time to reduce your workload.  Keeping the sponsorship to the 3rd Friday makes sense however.

Thank you for this significant change!

Hey dev, or you planning to give your identity once the masternodes are launch?   

This is pretty much the only way if you want it to live on the long run.

Just wondering!

Yeah im gonna hold my coins for a while too... I want to see what will comes out from this

Well, this is a good idea for selling orphan wallet. I can see the trading volume at the exchanger is low now comparing to last 2 weeks. Most probably traders are waiting for 3rd Friday as you mentioned.

But see, its not about you, its about the orphans, and if the price gets driven down to a point where they aren't worthwhile for anyone to buy/sell/mine then everyone loses.

Interesting project, nice idea behind and KJV hashing is really catchy. Little bit worried about some parameters but it might be adjusted in time. Huge mining inflation might be an big issue and also charity dump should be split as much as possible to minimize market shocks. There should be focus to preserve coin value as high as possible and effort to establish partners network who are ready to provide charitable work without dumping crypto coins for fiat (at least not all of them) but this will be a long way. Anyway, God bless your work on this project!

Ive also checked the code a bit and it seems that the new algo will do some hits on the database, so it make take some good hard drives as well...

Ok i was checking out because im thinking of buying a ryzen CPU, they look awesome!

Regarding volatility (ie market risk) with dumping the orphan wallet once per month, you guys/girls have convinced me that we should reduce the uncertainty by dumping constantly.  I originally wanted to consolidate that function down to one day per month, so that we could have one person dump, transfer, and sponsor orphans in one day.  But, I fear that we are causing market uncertainty by making people wait until the 3rd friday to buy our tokens.

In light of that, I will ensure we do a constant random dump of the orphan wallet every couple of days, and we will keep the sponsorship of new orphans task for the 3rd friday of each month.

Hello dev, any plans to add BBP to new exchanges? C-cex has low volumes for most coins. Cryptopia would be a great choice!

Price doesn't matter for me much right now. I hold BiblePay coins for 3-4 more months at least.

I like this idea.  Of course, you wouldn't need to mail a USB, that's what the wallet program is for, and in the end, moving the coins via the protocol would be a good way to show it can handle bursts of traffic.  The issue of price volatility will diminish as the price and volumes go up, but right now you're looking at 5% of the supply hitting the market at once (and that percentile dropping to 2.5% in the November sale, and less than 1% by May 2018 and .5% by March 2019) with the orphan fund sale.

Trying to garner donations from those incapable of setting up the wallet on their pc is going to be tough I think.  If you don't understand what you're donating to, you probably won't (or if you do donate, you'll wipe the "free USB" stick and those coins would be effectively "burnt").

That said, I think selling more frequently would reduce the impact, and offering the coins internally to the established users would not only reduce the market volatility could also garner more income.  You'd have to set a price that wouldn't cause a windfall for the purchasers (so don't sell for 10 sats when I can turn right around and sell them on C-Cex for 15 sats) but also not put such a premium that you'd be hard pressed to quickly sell the lot (so no 30 sats when I can buy them for 15 sats on C-Cex).

And yeahman, I keep dreaming of ways to overtake you lol