BiblePay - New Coin Launch - Official Thread - page 118.

seasonw

hero member

Activity: 714

Merit: 500

Quote from: TheKingInYellow on August 19, 2017, 10:06:02 AM

Really kicking myself for not having a bid set at 9 sat. This project is going places. I expect a higher price because that will translate into less selling needed to support the orphans, something I'm sure all of us in the free market wish for.

Also; I like the idea of a scheduled and transparent monthly "dump" (if you want to call it that) because it will facilitate buyers knowing when is a good time to get bidding on Biblepay. Next month I'll definitely have a hawkeye on the market. The only reason this month's auction affected the price so heavily is because people like me didn't know it was coming at a specific date and weren't prepared.

Shhhh.... Please talk it silently, this is my next month plan actually Tongue

m4tsby

member

Activity: 126

Merit: 10

are we really getting wrapped around the axle on whether or not these children are truly orphaned by definition? I can assure you, even with 1 parent, where they reside they are in dire straits and Compassion is legit enough to actually get the funds to the family...which isnt always easy to find in a charity.

TheKingInYellow

sr. member

Activity: 546

Merit: 257

Have you found the Yellow Sign?

Really kicking myself for not having a bid set at 9 sat. This project is going places. I expect a higher price because that will translate into less selling needed to support the orphans, something I'm sure all of us in the free market wish for.

Also; I like the idea of a scheduled and transparent monthly "dump" (if you want to call it that) because it will facilitate buyers knowing when is a good time to get bidding on Biblepay. Next month I'll definitely have a hawkeye on the market. The only reason this month's auction affected the price so heavily is because people like me didn't know it was coming at a specific date and weren't prepared.

Ginzink

full member

Activity: 462

Merit: 118

On a side not, the price is rising which means we will support even more children in need next month!

togoshigekata

full member

Activity: 1260

Merit: 115

I also noticed that the first 2 orphans sponsored have moms that are fully or somewhat around still.

Definition of orphan?

Dictionary.com
- "a child who has lost both parents through death, or, less commonly, one parent."

Merrian-Webster
- "a child deprived by death of one or usually both parents"

Wikipedia - https://en.wikipedia.org/wiki/Orphan
- " a child whose parents are dead or have permanently abandoned the child. In common usage, only a child who has lost both parents due to death is called an orphan"

US Legal Definition -
- 'a minor bereft through "death or disappearance of, abandonment or desertion by, or separation or loss from, both parents"'

United Nations Children's Fund (UNICEF), Joint United Nations Programme on HIV and AIDS (UNAIDS)
- "any child that has lost one parent"

===========

Charity Research:

Compassion International Wiki - https://en.wikipedia.org/wiki/Compassion_International

"Christian humanitarian aid child sponsorship organization dedicated to the long-term development of children living in poverty around the world."

"organization provides aid to more than 1,700,000 children"

"founded in 1952 by Everett Swanson to help children orphaned by war in South Korea,
the next year he developed sponsorship programs to help support orphans for a few dollars a month."

seasonw

hero member

Activity: 714

Merit: 500

Quote from: jaapgvk on August 18, 2017, 04:52:02 PM

Quote from: 616westwarmoth on August 18, 2017, 02:19:30 AM

My thought would be along these same lines.

According to https://support.compassion.com/compassion/topics/can-i-pay-in-advance-for-the-entire-year-of-sponsorship, it is possible to pay any number of months in advance.

I would think it best, due to the uncertain markets that instead of selling every batch of $40 once per month on the markets you instead offer the entire batch once per week internally to the users at market rate or slightly higher. Then you avoid the TX fees of the exchanges and I for one would be willing to pay slightly more to enrich the program rather than the money lenders in the temple. You could basically say (on the biblepay site or via some core functionality) "The August 1st week lot is up, it is 55,000 BBL, market rate is 9 satoshi/BBL, this lot goes to the first offer of at least 605,000 satoshi or will be sold at exchange on tomorrow"

Then, if there was enough to sponsor one child for their entire remaining term, that be done. Otherwise, that money would float to the next week and the additional funds from that sale added...so on, and so forth until the entire term could be paid at once, minimizing the risk of starting a sponsorship that could not be completed.

I agree. No one can tell what the value of this coin will be at any point in time, so it is unpredictable if the orphan-fund can have a steady (or growing) income from the monthly dump. An auction would also have the added benefit that it won't drive the marketprice down. Because with the current low volume on c-cex, the dump drove the price down (it went down to 7 satoshi), and thus the total payout is lower than it could be. Or maybe it's better to sell the coins in increments.

I also like the idea of paying the entire term in one go, thus eliminating the risk of dropped orphans, but I don't know if that's possible in practice.

Anyway, I really like being part of this community. Good vibes

I thought dev was going to auction coins for orphan, because I saw the word "auction" there. Or maybe the auction system not ready yet?

Yes, I agreed that sold the huge coins to market will dump the price.

inblue

full member

Activity: 462

Merit: 103

Quote from: togoshigekata on August 18, 2017, 11:31:31 PM

orphan - "a child whose parents are dead or have permanently abandoned the child"

That's what I also thought orphans are, but when you examine the active sponsored orphans list, for all of them it says "Mother is living with child", and for some even both parents are living with them. I thought the orphans lived in an orphanage. Surely I must be missing something.

Edit: I looked at the Compassion website and it mostly refers to them as children in need or similar, so maybe a different nomenclature should be used in Biblepay, because the current one could be misleading.

Ginzink

full member

Activity: 462

Merit: 118

Quote from: royalempire on August 18, 2017, 11:14:08 PM

Is this coin related to any religion, if yes - can you explain why? please.. is this a fund raising coin for the church? can u give some beneficiary of this coin?

The coin hashing is based on the bible. But the fundraising goes to children not some church. If it went to a church i would not like the project enough to support it.

togoshigekata

full member

Activity: 1260

Merit: 115

10% of coins mined every month are collected, sold and used for sponsoring orphans

Compassion International: https://www.compassion.com/

orphan - "a child whose parents are dead or have permanently abandoned the child"

royalempire

newbie

Activity: 10

Merit: 0

Is this coin related to any religion, if yes - can you explain why? please.. is this a fund raising coin for the church? can u give some beneficiary of this coin?

zerote000

newbie

Activity: 6

Merit: 0

Quote from: happy_merchant on August 18, 2017, 10:56:15 PM

Just doing some really rough estimates here, the pool is averaging around 30% of the blocks over the past couple hundred blocks. I'm not really sure what number to go by to get the most accurate pool hashrate, but it's somewhere between 25 MH/s and 34 MH/s, I'll just say 30 MH/s to keep the numbers simple. That would put the actual network hashrate around 100 MH/s, give or take ~15 MH/s.

So, it's definitely much higher than reported by older versions of Biblepay (13 MH/s), and probably a bit lower than what's being reported by 1.0.2.2 (214 MH/s).

The reported hashrate in BiblePay 1.0.2.2 swings up and down. Two and a half hours ago, it reported 138 MH/s, 6 hours ago 119 MH/s, 7 hours ago 232 MH/s.

happy_merchant

member

Activity: 70

Merit: 10

Just doing some really rough estimates here, the pool is averaging around 30% of the blocks over the past couple hundred blocks. I'm not really sure what number to go by to get the most accurate pool hashrate, but it's somewhere between 25 MH/s and 34 MH/s, I'll just say 30 MH/s to keep the numbers simple. That would put the actual network hashrate around 100 MH/s, give or take ~15 MH/s.

So, it's definitely much higher than reported by older versions of Biblepay (13 MH/s), and probably a bit lower than what's being reported by 1.0.2.2 (214 MH/s).

Charloz24

hero member

Activity: 966

Merit: 501

Thanks for the update about the monthly coin auction. That is a really good start for the first month if it could improve the life of 70+ orphans. I really hope the project will gain traction months after months and help more and more orphans.

happy_merchant

member

Activity: 70

Merit: 10

Quote from: Slkp on August 18, 2017, 06:43:40 PM

is pool already work with main chain?

You can currently pool mine on main, but it's still officially considered in testing as far as I'm aware so don't be too shocked if you run into an issue now and then.

Slkp

sr. member

Activity: 433

Merit: 250

is pool already work with main chain?

silvestar

legendary

Activity: 1134

Merit: 1002

Wow I like seeing such projects. I've been reading the forum and I also liked the idea of buffering. I don't get it when people get obsessed with religious connotations. Here's something good I mean, shut up and support it! Roll Eyes

jaapgvk

full member

Activity: 574

Merit: 104

Quote from: 616westwarmoth on August 18, 2017, 02:19:30 AM

My thought would be along these same lines.

According to https://support.compassion.com/compassion/topics/can-i-pay-in-advance-for-the-entire-year-of-sponsorship, it is possible to pay any number of months in advance.

I would think it best, due to the uncertain markets that instead of selling every batch of $40 once per month on the markets you instead offer the entire batch once per week internally to the users at market rate or slightly higher. Then you avoid the TX fees of the exchanges and I for one would be willing to pay slightly more to enrich the program rather than the money lenders in the temple. You could basically say (on the biblepay site or via some core functionality) "The August 1st week lot is up, it is 55,000 BBL, market rate is 9 satoshi/BBL, this lot goes to the first offer of at least 605,000 satoshi or will be sold at exchange on tomorrow"

Then, if there was enough to sponsor one child for their entire remaining term, that be done. Otherwise, that money would float to the next week and the additional funds from that sale added...so on, and so forth until the entire term could be paid at once, minimizing the risk of starting a sponsorship that could not be completed.

I agree. No one can tell what the value of this coin will be at any point in time, so it is unpredictable if the orphan-fund can have a steady (or growing) income from the monthly dump. An auction would also have the added benefit that it won't drive the marketprice down. Because with the current low volume on c-cex, the dump drove the price down (it went down to 7 satoshi), and thus the total payout is lower than it could be. Or maybe it's better to sell the coins in increments.

I also like the idea of paying the entire term in one go, thus eliminating the risk of dropped orphans, but I don't know if that's possible in practice.

Anyway, I really like being part of this community. Good vibes

deepcryptomine

full member

Activity: 392

Merit: 101

Hi

Just wanted to say this is a great project helping people and really good work on the coin and the pool. I just started mining yesterday and didn't encounter any issues. Wallet and pool worked perfectly and it is still mining after almost 16 hours straight.

This coin is new but you already made a difference by helping 74 orphans so far. I will help out anyways I can.

Thanks

happy_merchant

member

Activity: 70

Merit: 10

Quote from: bible_pay on August 18, 2017, 07:04:30 AM

Happy_Merchant, #8 on the rich list is the pool if you want to label it:

8 B9LeH2D3pxTHcssNhgBqseJekonk1q36w8 1136122.01253080 1.56

Thanks.

Done.

Great work on the charity. That's a huge turnout for the first month. Can't wait to see how much we're raising a year from now.

togoshigekata

full member

Activity: 1260

Merit: 115

Biblepay - Active Sponsored Orphans List

Orphan ID --- Name ----------------------Monthly Commitment -- URL

07652065 --- Mohamed Seid ------------------- 38.00 --- https://www.compassion.com/cart/needbiopopup.aspx?gid=07652065 ---- BIRTHDAY TODAY!

06991060 --- Aylin Elizabeth Ramos Medina -- 38.00 ---- https://www.compassion.com/cart/needbiopopup.aspx?gid=06991060

====

Great work BiblePay team!, this is a fantastic project!, many more orphans will be sponsored!

====

Main Info Page:
https://bitcointalksearch.org/topic/biblepay-new-coin-launch-official-thread-2042657

Website:
http://biblepay.org/

CCEX Exchange:
https://c-cex.com/?p=bbp-btc

Pool:
http://pool.biblepay.org/

Pool Testing:
https://bitcointalk.org/index.php?topic=2070177.new#new

Compassion Chairty:
https://www.compassion.com/
https://en.wikipedia.org/wiki/Compassion_International
https://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=3555

This charity has fantastic ratings!

Topic: BiblePay - New Coin Launch - Official Thread - page 118. (Read 119833 times)