BOINC Researcher Setup

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NOTE: This guide assumes that you already a cruncher with RAC
on [email protected] (RH) and/or World Community Grid (WCG) BOINC projects


0. [TODO] Overview - Lightly Explain BiblePay, PODC, Staking


1. Download and Install BiblePay Wallet
a. https://www.biblepay.org/wallet/


2. Create a [email protected] account if not already created (it is used for linking your account to BiblePay)
a. https://boinc.bakerlab.org/rosetta/create_account_form.php
OR
b. Wallet >> Distributed Computing tab >> Enter Email address and Password >> Click "Create and Attach [email protected] Account"


3. Get 2 BiblePay coins from the "Non-BiblePay Team" Pool Faucet
a. Create Pool Account: http://pool.biblepay.org/ >> Register Account
b. On left menu click "Faucet" >> "Non-Biblepay Faucet"
   1. Enter CPID (Cross-project ID) and BiblePay Address and click Send button
      a. Find CPID:
         1. [email protected]: https://boinc.bakerlab.org/rosetta/home.php
         2. World Community Grid: https://www.worldcommunitygrid.org/ms/viewMyProfile.do
      b. Generate BiblePay Receiving Address
         1. Wallet >> File >> Receiving Addresses >> New >> Label: "Staking" >> Ok
         2. Right click "Staking" address >> Click Copy Address
         Command Line Users: ./biblepay-cli getaccountaddress "Staking"

NOTE: These BiblePay coins will take 2 block confirmations before you can use them,
so please wait about 15 minutes before continuing to Step #3 (average BiblePay block time is 7 minutes)


4. Link your [email protected] account to your BiblePay Wallet
a. "Distributed Computing" tab >> Enter Account >> Click "Associate"
Command Line Users: ./biblepay-cli exec associate rosetta_email_address rosetta_password
NOTE: Cannot link World Community Grid account has to be [email protected] account, go back to Step #2


5. Figure out how many BiblePay coins you need for Staking and how much Profit you can make every day
5a. Profitability equation, BBP Fiat Value CoinMarketCap

For 100% BiblePay Research rewards, you need **20 BBP for every 1 RAC** stored in your wallet,
At a minimum, for 10% of the rewards, you need **1 BBP for every 1 RAC** stored in your wallet,

Daily Reward = (Your RAC / Team RAC) x (Daily PODC Superblock Budget)

For Example (Using numbers from October 20th and assuming you have 30,000 RAC):
Your RAC = 30,000 RAC
Team RAC = 8,900,000 RAC
Daily PODC Superblock Budget = 1,077,000 BBP

So a cruncher fully staked with 30,000 RAC would get a daily reward of:
(30,000 / 8,900,000) x (1,077,000) = 3,630 BBP = $1.81 reward every day

To get fully staked at 30,000 RAC you need 20 BBP per 1 RAC so 30,000 x 20 = 600,000 BBP = $300
In this scenario you would earn back your initial staking investment after 6 months, and make all profit afterwards.

To get minimum 10% reward, you need 1 BBP per 1 RAC so 30,000 x 1 = 30,000 BBP = $15
and you would make $0.18 every day in rewards, you would earn back your initial investment in 1 month

References:
- Team BiblePay Combined BOINC Stats: https://boincstats.com/en/stats/-1/team/detail/831912762/overview
- BiblePay Research Budget and Leaderboard: https://www.biblepay-central.org/


6. [TODO] Buy coins (Buy Bitcoin [Create account, Use CC or Bank], Buy BiblePay [Create account, Send Bitcoin, Explain Limit Orders?])


7. [TODO] Transfer coins to Wallet for Staking, Keep Wallet on 24/7, Get paid every day, exec getboincinfo


Misc: encryption, backups

=

References:
https://www.biblepay.org/freebbp/#faucets
https://www.biblepay-central.org/en/documentations/mining-how-to/
https://www.biblepay.org/mining/
https://www.biblepay.org/airdrop/
https://www.reddit.com/r/BiblePay/comments/97cx4f/world_community_grid_wcg_mining_guide/
https://www.biblepay-central.org/en/documentations/getting-biblepay-coins/