LAUNCH DATE: JULY 23, 2017TICKER: BBPEXCHANGE LIVE DATE: AUGUST 15, 2017
PREMINE: NONEICO: NONE
ALGORITHM: PROOF OF BIBLEHASH (POBh)TRANSACTION SPEED: SUPPORTS INSTANTSENDBLOCK TIME: 7 MINUTES
TOTAL CIRCULATION: 5.2 BILLION BY YEAR 2050
We are a decentralized autonomous cryptocurrency giving 10% to orphan-charity, with Sanctuary (Masternode) governance, being passionate about spreading the gospel of Jesus, having the entire KJV bible compiled in our hashing algorithm (POBH). We are deflationary, decreasing our emissions by 19.5% per year. We launched in July 2017. We are a utility that provides an alternative method for giving to charity for those who seek cryptocurrency exposure. With our Generic Smart Contracts, we seek to become the go-to wallet for Christians. In the future, we will lease file space on our Sanctuaries and release corporate integration features, such as C# access to the blockchain. Our platform is a derivative of Dash-Evolution. We had no pre-mine, and no ICO. We seek to help orphans globally.
ENABLED: DECEMBER 18, 2017
REQUIREMENT: 4,500,001 BBP
STATISTICS:- Masternodes.Online - https://masternodes.online/currencies/BBP/- Masternodes.Pro ----- https://masternodes.pro/stats/bbp/statistics- MasterNodeCap ------ https://masternodecap.com/coins/BBP- Masternode.Live ----- https://masternode.live/currencies/BBP/BiblePay
BLOCK REWARD BREAKDOWN:
20.0% Monthly Budget 10.0% Charity5.0% IT (Software Development)2.5% PR (Public Relations)2.5% P2P (Orphan Letter Writing)30.0% Generic Smart Contracts25.0% Proof of BibleHash Mining (POBh)25.0% Masternodes (Sanctuaries)
UNDERSTANDING THE GOVERNANCE AND BUDGET SYSTEM:http://wiki.biblepay.org/UnderstandingGovernance
======MINING GUIDES:- WINDOWS: https://www.reddit.com/r/Bible...- LINUX: https://www.reddit.com/r/Bible...
============================================================DOWNLOAD WALLET: https://www.biblepay.org/wallet/
HOW TO GET BIBLEPAY COINS?
TWITTER: https://twitter.com/BiblePay===NEWSLETTER: https://www.biblepay.org/newsletter/
#2: CoinExchange.iohttps://www.coinexchange.io/market/BBP/BTC============================================================COINMARKETCAP: https://coinmarketcap.com/currencies/biblepay/
CIRCULATION CHARACTERISTIC: DEFLATIONARYCIRCULATION RATE: DECREASE BY 1.5% PER MONTHDEFLATION RATE: 1.5% per month, compounded = 19.5% deflation on a compounded basis per year
** NOTE ON DEFLATION **BiblePay seeks to be a deflationary currency relative to the G5 basket, by constantly decreasing its block reward structure by 1.5% per month. We make the assumption that with our controlled seven minute block mint rate, coins will be bought at a normalized pace in time due to the free market pricing structure.
TOTAL CIRCULATION: 5.2 BILLION BY 2050
EMISSION SCHEDULE PROJECTION: http://wiki.biblepay.org/Emiss...ECONOMICS: http://wiki.biblepay.org/Econo...
First coin with the King James Bible compiled in the source, and utilizing Bible verses in the hashing algorithm,Spreading the gospel throughout the community and donating 10% of mined coins to those in distress (orphans)A secure blockchain benefiting those in distress with provable contributions, expenses contributed to charities that are more than 75% efficient. ** NOTE: THE COIN HAS RPC COMMANDS THAT PROVE 100% OF CONTRIBUTIONS ARE SPENT THE WAY INTENDED ** Proof of Work has been replaced with Proof Of Biblehash (POBh) - an algorithm that compensates full nodes participation,while preventing GPUs and ASIC by requiring full blockchain transaction referencing in the hashing function,along with chained bible verses. This means biblepay subsidizes full nodes that stay online.
Seven minute block targets minimize the blockchain file size, yet BiblePay does support Dash's instantsend for speedy transactions.MasterNodes (called Sanctuaries) came online Christmas 2017, allowing all expenses to be voted on and approved.
Expense receipts, to prove the sponshorship of new orphans, are accessible from inside the wallet and we even provide phone numbers for auditors to prove 100% charity expenditures. (From the rpc, type 'run contribution' to see the tithes into the foundation for a time period, and to see the outgoing sponsorship click the wallets 'Accountability' button to see a list of orphans, expenses, sponsorship dates, amounts, and the charity phone number, and txid). For the first 6 months, 10% of each block was allocated to the foundation, for sponsoring orphans at 100%.
After the sanctuaries went live, the 10% tithe was diverted to an ongoing budget with DAO governance, voting, allowing the coin to function as a decentralized autonomous charity
To avoid wasting energy on meaningless SHA hashing, (or mining), biblepay introduces the BibleHash algorithm, that allows biblepay to run on common commodity PCs, since the algorithm is resistant to porting to video cards and ASICs and is resistant to running in non-full node environments.
In addition to the low energy requirements and high efficiency of POB, the reward per block is set to be relative to the length of time the block took to solve, (meaning that abusive hash attacks result in subsidy decreases).
The network will be high efficiency with low total energy consumption, and the charities sponsored must also be high efficiency (over 75%).Next, we are deflationary, meaning that we start by issuing a larger amount of coins per block, and each year we tighten the supply by 10%.
The schedule is here: (205 blocks per day, 7 minute block targets):
EMISSION SCHEDULE PROJECTION: http://wiki.biblepay.org/Emiss...
BLOCK REWARD BREAKDOWN: http://wiki.biblepay.org/Econo...
After our sanctuaries went live, we allocated 20% of each block subsidy to our governance committe (a DAO), automatically, with 50% of that beingspent on charity, and 50% to IT expenses, PR and P2P.
Over time, our sanctuaries will become a charity governance committee, to allow our community to take over the day to day operations of the charity: voting on where the money is spent, how much is spent. This way, we will not be centralized.
We only partner with charities over 75% efficient, meaning over 75% reach the end-user.
The lead dev started with zero, the orphan foundation fund started with zero, the distribution is entirely fair.
NO ICO. The distribution curve is evenly declining with no hidden bumps. The self-governance committee and masternode payments were deliberately delayed to allow people to prepare and save up the initial requirement. Running a sanctuary is open to anyone.
SPONSORED CHARITIES: https://www.biblepay.org/charities/
ORPHAN LETTER WRITING: biblepay.org/freebbp/#letterwritin
The wallet has a reconciliation page built in to show all charitable income and expenses.
The expenses are auditable - proving the money actually was spent on orphans.
This is accomplished through the use of an RPC audit command that tallies the orphan income from the blockchain,and secondly, an API connection to a database that stores the Charity expenses, with auditable backing contact info for each expense.We also provide a web page with pictures of the sponsored orphans clickable from the wallet to show our investors what good we are doing.And finally- we will maintain a copy of receipts in order to maintain 100% accountability.
accountability.biblepay.orgFrom core wallet: Click Business Objects | Revenue or ExpensesFrom RPC: exec theymos
Proof of Bible Hash algorithm (POBh), getblockinfo shows the chained bible verses required to solve the block,sending money exposes a Tithe checkbox - allowing 10% to be gifted to the orphan foundation, wallet has an in-wallet prayer system, allowing a user to send out a prayer request to the network or store prayers in the chain for the community to pray for from the overview page, Transactions support in-chain messages, Instant Send, Voting, Decentralized Automated Charity Governance Committee, Repentance of Sins, Contributing to the orphan foundation checkbox, and reading the sin list and various staple prayers in wallet.
CAUTION: "Although BiblePay has a deflationary emission schedule, there is no guarantee of positive investment returns against other major inflating currencies. Past returns are not indicative of future results. We are a utility and not a security. Please do not invest in BiblePay unless you know all of the risks of cryptocurrencies"