Topic: BiblePay - TestNet Thread - Pool Testing for Proof of Bible Hash Pool (PoBh) (Read 13217 times)

All,

Due to our expansion we now need to have multiple ongoing testnet topics, therefore this topic has to be moved:


http://forum.biblepay.org/index.php?board=3.0


Best Regards,
Rob

Wrong!

Calling Biblepay a scam (without providing evidence) is one thing, calling it a ponzi scheme is just plain inaccurate and vindictive.  See the definition at https://en.wikipedia.org/wiki/Ponzi_scheme and https://en.wikipedia.org/wiki/Pyramid_scheme:

"A Ponzi scheme... is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. Operators of Ponzi schemes can be either individuals or corporations, and grab the attention of new investors by offering short-term returns that are either abnormally high or unusually consistent.

Companies that engage in Ponzi schemes focus all of their energy into attracting new clients to make investments. Ponzi schemes rely on a constant flow of new investments to continue to provide returns to older investors. When this flow runs out, the scheme falls apart."

"A pyramid scheme (commonly known as pyramid scams) is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal."

If you want a more official definition of Ponzi schemes: https://www.sec.gov/fast-answers/answersponzihtm.html

"A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors to create the false appearance that investors are profiting from a legitimate business."

Why does this not apply to BiblePay?

* Older investors are not getting returns from newer investors.

* The returns on BiblePay have not been abnormally high
(although early on the returns did attract quite a few miners looking to mine and dump the coin to get BTC - this I attribute to Rob not expecting so much interest for personal gain by people in his coin.  The drop in block reward has reduced this somewhat.)

* While the interest in buying is what gives BiblePay its price - this is the same for any coin.  There are enough people with BBP that sales of BBP on the exchange are going to be from a variety of individuals, not just Rob.

* Rob is focusing on adding features/value to BiblePay and the BiblePay wallet.  I have seen devs that are looking to pump up the price focus more on marketing and promotion, than fixing issues and adding features.

While I think that it probably is possible to make it easier to verify Rob's payments to sponsor the children on Compassion.com, he certain has tried by sharing print-outs of the payments and who they were to sponsor.

Overall I do not see any intent by Rob to scam those who are investing in BiblePay, and trying to label it 'ponzi' is just malicious.

What is the maximum amount that the developers plan to collect? Accidentally saw the signature and decided to read about the project.

new thread opened by another member that was banned. their infraction? sharing zeal for the project and for Jesus Christ

unofficial BiblePay thread can be found here

please support our efforts to bring back TRUTH, HONESTY, and INTEGRITY to Christian Crypto

https://bitcointalksearch.org/topic/delete-2394105

Is Biblepay a scam?! Ponzi scheme of Biblical proportions using orphans as its cover?

Do your research very carefully before investing.

this is unacceptable behavior for a 'christian' ministry to the poor

I was warning the community at large about them until I got banned. I will put forth my findings again here.

A Christian project should not be afraid of public scrutiny.

This appears to be a scam. The story so far:

Part 1- The setup

1- 'Rob' (anonymous figure who refuses to reveal) forks Dash codebase
2- Novelty feature of 'biblehash' developed and marketed as way to defeat unfair mining by GPU
3- 'Rob' designs coin to be VERY VERY HIGHLY inflated. 20,000 block rewards every 7 minutes
4- 'Rob' markets coin as a 'bible'/'christian' currency to help orpahs
5- 'Rob' works with 5 devs and partners to execute plans fast

Part 2 - The instamine - how to get millions of coins before anyone else!

(done before with Dash see: https://bitcointalksearch.org/topic/why-the-darkcoindashdashpay-instamine-matters-999886)

6- 'Rob' announces coin on bitcointalk. Claims no pre-mine or ICO
7- 'Rob' along with devs/partners mine coin with very large hashrates before anyone else. This can be verified on blockchain (http://biblepay.inspect.network/ - note: the blockchain only goes back last 100 entries!!).
8- 'Rob' appears to delay allowing others to mine. Other devs post on forum of their success with mining. Likely they are the dev team, partners, or just fake information
9- Real users report difficulty mining, getting software to work.
10- Pool shows very high hashing power from select users. Suspecting 'Rob' and his merry men have dominated the initial coins

Part 3- The dump on the exchanges

10- On same day of launch, 'Rob' announces a deal that coin will be listed on an exchange due to its charity function.
11- In aug the coin becomes listed. immediately MILLIONS of coins are dumped.

Part 4- Selling the masternodes <-- present

12- 'Rob' announces masternodes will go on sale on thanksgiving. 1.5 million biblepay units ($1200) per node.
13- At this point regular miners with simple hardware would never be able to mine those amounts. Though that was the intention of the coin in the first place!
14- 'Rob' is now cashing in with everyone buying units from him to buy into this masternode scheme

Part 5- Exposing the scam, banning critics, locking up thread from criticism

15- Once pieces were put together, 'Rob' was challenged. No specific response other than 'this person is trolling',etc.
16- 'Rob' closes down the thread and deletes any critical posts


I call on all people of integrity regardless of religion, to investigate this project. Those that are Christian must find it highly offensive that their Holy Bible is used as a vehicle for a ponzi scheme. Others should find it tiresome that the crypto world is polluted by yet another pump-dump coin.

How can you help?

IMMEDIATE ACTION STEP:

Ask 'Rob' to have his blockchain explorer show all mined blocks since the beginning so an accounting can be done. Transparency is a fundamental principle of blockchain. Why limit it to 100 recent entries 'Rob'?

https://bitcointalk.org/index.php?topic=2388064.new#new

1- Do an accounting of coins mined in first 24-48 hours. Someone with technical expertise should install 'inspect blockchain explorer' https://github.com/iquidus/explorer and run a report on amount of coins mined on first day/hours.  (this feature on bibleplay block explorer has been limited to 100 recent only)

3- Ask 'Rob' for accountability. challenge him on the new moderated thread. Do not stand for censorship or shaming. You will quickly find out he will censor you or delete posts that bring to light these issues. Why so much censorship?

4- Spread the warning that biblepay may be a scam / ponzi scheme. 'Rob' can not censor organic SEO discussion online.



Post this thread on
- http://www.reddit.com/r/biblepay
- tweet it #biblepayscam
- write blog articles and facebook posts
- make youtube videos exposing this

Further reading


Similar scam setup in Dash launch
https://medium.com/@omiros23/evans-and-dash-s-scam-story-add1f16528ae

warning to all involved with biblepay. it may be a scam

please read the forum post below and do your own research

https://bitcointalksearch.org/topic/m.24427178

This coin is not an ICO, its CPU mining, and will add Masternodes in December.

Which currency will be accepted during the ICO?

warning. bible pay may be a ponzi scheme

https://bitcointalksearch.org/topic/biblepay-censoring-for-exposing-their-bible-ponzi-scheme-2388502

Just a reminder regarding testing:


The main thread for BiblePay is https://bitcointalksearch.org/topic/biblepay-new-coin-launch-official-thread-2042657

Made a new article in Testnet (ID=ef1f411d1ef8dff03300752113c0a9ab992d4bc75df570adc252013d56cf2a75).  Charge was correct in wallet (4500 BBP), is viewable in news functions.  Hopefully this doesn't crash testnet again like it appears my previous news article (c043bdf055345541ab911bed2ac11331328f51b4f6e2848418cd3ea43c6f6cfa) may have.

Made an article (testnet) (News-Create News Article).  When I hit preview, the preview popped under the main menu and was very difficult to see.  When I hit the OK button (in the Create News Article window), it closed the Create News Article Window.  When I again selected News-Create News Article it popped up the CNA window, but my preview was still under from before.  However, nothing seemed to save from my previous incarnation of CNA and I had to retype (cut-paste).  When trying to edit the format of my article (and it may be because I was on VNC) it would not allow for insert, only overwrite style edits.

I closed the preview, hit the Preview button in CNA window, got a new preview.  Did an edit, hit preview and it refreshed the preview window (as expected).  When I hit publish, I THOUGHT it said it would cost 400 BBP, I was then charged 4500 BBP and did not note the article ID.  The transaction summary is below.  Either way, even if I misread 4000 as 400, 4500 is above that.  I don't see in debug what my article ID was, so I cannot verify it exists yet.

One consideration to make would be a WSISYG editor.  I'm pretty sure there are some open implementations that would be adaptable with ease, and lower the barrier for entry for writing news articles.


Status: 0/offline, has not been successfully broadcast yet
Date: 9/26/2017 23:05
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
To: yadZnJ3hD3FRC8CiLZEVNqejvQFgNtu5ci
Debit: -500.00000000 tBiblepay
Transaction fee: -0.00173000 tBiblepay
Net amount: -4500.00173000 tBiblepay

Yesterday, there were problems with the connection of the wallet and transfers from the wallet and the pool, someone else came across?

It's after block 7000.  Anxiously waiting for an update  =)   

I guess I should try to become a Bible coin whale ASAP considering which is my BCT nickname...

Sory;
I could login to pool2.biblepay.org site. but I can not login to pool.biblepay.org with the same information. The pool2.biblepay.org site is closed. I do not know what to do right now. Can you help me? User name Tekbirsoft, workers tekbir1, tekbir2.

My machines won't connect to the main pool anymore using the most recent version of the client (as of this morning). Switched to pool2 and I'm getting shares and my workers show up in the leaderboard, but I haven't gotten a payment in the last 12 hours.

POOL DOWN-REVERTING TO SOLO MINING

The Dev said the new test server pool2.biblepay.org supports up to 100 threads, but you have to use 1.0.2.7 wallet.

Your credentials should be the same there as the current pool.

Honestly I'm not sure anymore, try increasing your genproclimit and see what you get. I put it at 80 and that's what I got.