BiblePay (BBP) - 10% Charity - CPU ONLY - 38% Cancer Research Mining - Masternode Governance - ASIC Resistant
LAUNCH DATE: JULY 23, 2017
EXCHANGE LIVE DATE: AUGUST 15, 2017
INCONSISTENT REWARDS: NONE
ALGORITHM: PROOF OF BIBLEHASH (POBh)
TRANSACTION SPEED: SUPPORTS INSTANTSEND
BLOCK TIME: 7 MINUTES
TOTAL CIRCULATION: 5.2 BILLION BY YEAR 2050,
DECREASING BY 18% PER YEAR (200 MILLION AS OF NOVEMBER 2017)
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.
MASTERNODE (SANCTUARY) SUPPORT: LIVE CHRISTMAS 2017
MASTERNODE (SANCTUARY) ESCROW REQUIREMENT: 1,550,001 BBP
- Masternodes.Online - https://masternodes.online/currencies/BBP/
- Masternodes.Pro - https://masternodes.pro/stats/bbp
BLOCK REWARD BREAKDOWN:
5.0% IT (Software Development)
2.5% PR (Public Relations)
2.5% P2P (Orphan Letter Writing, Pay to Preach/Priest)
38.5% Cancer Research Mining (Proof of Distributed Computing)
3.0% Proof of Work Mining (Heat Mining)
38.5% Masternodes (Sanctuaries)
UNDERSTANDING THE GOVERNANCE AND BUDGET SYSTEM:
MINING GUIDES FOR PROOF OF BIBLE HASH:
- WINDOWS: https://www.reddit.com/r/BiblePay/comments/6umlqq/how_to_mine_biblepay_on_windows/
- LINUX: https://www.reddit.com/r/BiblePay/comments/6ummuj/how_to_mine_biblepay_on_linux/
MOBILE ANDROID WALLET:
HOW TO GET BIBLEPAY COINS?
CIRCULATION CHARACTERISTIC: DEFLATIONARY
CIRCULATION RATE: DECREASE BY 1.5% PER MONTH
DEFLATION 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, DECREASING BY 18% PER YEAR (200 MILLION AS OF NOVEMBER 2017)
EMISSION SCHEDULE PROJECTION: http://wiki.biblepay.org/Emission_Schedule
A secure blockchain benefiting those in distress - 10% of the emission goes to sponsoring Orphans, with provable contributions, expenses contributed to compassion.com - and future 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) will come online after Christmas, allowing all expenses to be voted on and approved.
Expense receipts, to prove the sponshorship of new orphans, will be accessible from inside the wallet and we will 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 will be allocated to the foundation, for sponsoring orphans at 100%. Once per month, we will cash in anything over $40 available on an exchange, and sponsor orphans on our
After the sanctuaries go live, the 10% tithe will be diverted to an ongoing budget with DAO governance, voting, allowing the coin to function
as a dectralized autonomous charity; at that point the lead dev and volunteers will become a normal part of the community allowing the coin to run by itself.
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/Emission_Schedule
The block reward breakdown is as follows:
After our sanctuaries go live, we allocate 20% of each block subsidy to our governance committe (a DAO), automatically, with 50% of that being
spent 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.
NO PREMINE -
The lead dev starts with zero, the orphan foundation fund starts with zero, the distribution is entirely fair.
NO ICO. The distribution curve is evenly declining with no hidden bumps early.
The self-governance committee and masternode payments are deliberately delayed until Christmas, to allow people to prepare and save up the initial requirement.
Running a sanctuary is open to anyone. The lead dev will sponsor the first 10 orphans out of his own pocket.
The wallet will have a reconciliation page built in at go live, to show all charitable income and expenses.
The expenses will be auditable - to prove the money actually was spent on orphans.
This will be 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 Compassion expenses (until sanctuaries go live), with auditable backing contact info for each expense.
We will also provide a web page with pictures of the sponsored orphans clicable 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.
Pay to Preach, in wallet ineractive prayer rooms.
JULY-DECEMBER 2017: GO LIVE, SPONSOR ORPHANS MONTHLY
JANUARY 2018: MASTERNODES (SANCTUARIES) GO LIVE
FEBRUARY 2018: MARKETING, IN WALLET PRAYERS
MAY 2018: MARKET BIBLEPAY AS A 401K ALTERNATIVE
Novel Distinct Features of BiblePay:
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.
Hi, and thank you for posting your ANN here. Charity projects are important, especially in this market where greed is so predominant. You give a lot of explanation on the 10% of block reward going to orphans (which is awesome), but would you mind explaining in a bit more details what "Cancer Research Mining" is? Does 38% of the block reward goes to research for cancer? A specific organisation or different labs all over the world?
Very nice ANN overall. Thx
@kelnel Thank you!
About the Cancer Research Mining, Yes 38% of block rewards go to miners contributing CPU to solving tasks for science researchers.
There are the 2 science projects we reward BiblePay coins for:
(Cancer, AIDS/HIV, Malaria, Alzheimer’s)
World Community Grid: https://en.wikipedia.org/wiki/...
(Cancer, AIDS, Zika, Tuberculosis, Clean Energy, Ebola)
These projects contribute to Healing and Curing
and they are CPU only, keeping with our goal to have mining open to everyone
This is a relatively new development added live about a month ago and it is working great!
Fleshwound last edited by
@togo You know Ive really liked how stable your coin is and I normally would have ignored it but now Im wondering, are you a Gridcoin Fork? I really like what I keep hearing and if the price doesnt do any x10 any time soon I might take a shot and go for a masternode...
@fleshwound BiblePay is a fork of DASH and the Proof of BibleHash algorithm is possibly a fork of Groestlcoin
"Biblepay is not a fork of Gridcoin. Biblepay has a Distributed-Computing UI which requires the user to enter Rosetta credentials to associate a CPID through a transaction, while Gridcoin uses a "beacon" and is first-come-first-serve (IE first registered CPID claims the CPID in the chain).
Biblepay uses a Sanctuary Quorum, and a daily superblock, while Gridcoin uses Proof-of-stake to embed a research payment in.
To my knowledge, we don't share any of each of the repo's commits. Gridcoin uses the Neural Network to query RAC in C#, while Biblepay uses Sanctuaries in C++. Different technologies. Gridcoin honors credits for *any* boinc project, while we only have Rosetta + WCG." -Rob
Masternode ROI (return on investment):
With our 10% Charity budget we are now sponsoring 329 Orphans every Month! across 3 charities:
Compassion International, Be Love Orphan Outreach Missions (BLOOM) and CameroonONE
This is a super interesting project. May I ask, how are you different from RAPTURE (RAP)?
BiblePay is CPU only, with unique Proof of BibleHash algorithm
Rapture supports GPU mining with Neoscrypt algorithm
BiblePay is funding 3 Charities with 10% of mined coins (10% will always go to Charity), sponsoring 329 Orphans every month!
Rapture is funding 1 Charity with a Masternode (with more masternodes ready to support more charities)
BiblePay has a Live Budget/Proposal since December with 4 or so successful budgets voted on and paid out,
Rapture plans to add Budget system in half a year or so
BiblePay had no premine, and has self funded through 20% monthly budget (half goes to charity, other half IT/PR/etc)
Rapture had a 3% premine and also auctioned 5 masternodes for funding
One of the big unique differences of BiblePay vs Rapture
is that BiblePay is now rewarding 38% of coins to Cancer/Disease research with miners CPU Cycles
Here is an old Steemit Post I wrote, its outdated now but mostly correct:
"Christian Cryptocurrency - BiblePay vs Rapture vs ChristCoin vs JesusCoin"
@togo Excellent! I look forward to investing in some BiblePay.
@togo Also, on Masternodes.online it says:
This is not something that I can afford presently. Any other ways to get it besides mining?
Masternode worth: $5,122.75 / 0.54250 BTC
@togo That was a solid response. Thank you for taking the time to go over this. I really like your project. Well done
@soldatchristi How to Get BiblePay coins:
To gain coins you can:
- CPU mine (Cancer Research Mining and/or Proof of work Heat Mining)
- Buy on Exchanges
- 2 Faucets (Random payout and/or Create pool account)
- Read/Watch/Listen to Gospel Links
- Write Orphan Letters
- Create Work Proposal
BiblePay is one of only a few Masternode coins with a Website, White Paper and Governance!:
Shoutout to OmniAnalytics for their fun Masternode Analysis tweets
I believe the Governance system is the key feature,
it gives a coin the ability to self fund itself,
it allows a coin to make decisions
Understanding the Governance and Budget System
BiblePay (BBP) is live on exchange CoinExchange.io!
BiblePay was added to two Masternode Hosting services/coins! GIN and Apollon!
Interview with Rob Andrews Founder of BiblePay
togoshigekata last edited by
I lost access to togo account,
Ive created updated BiblePay (BBP) ANN here: