Difference between revisions of "Economics"

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BiblePay Economics:
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== BiblePay Economics: ==
  
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== Gross Block Breakdown: ==
  
<ul>Block Breakdown:
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* Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year
<li>Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy)
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* 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR)
<li>10% is given to Charity (IE compassion.com) through the sanctuary voted budget
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* 37.5% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock)
<li>5% is given to IT (through sanctuary voted IT expenses, such as IT payroll, letter writing, PR etc)
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* 38.5% is given to the next due Sanctuary
<li>2.5% is given to PR, 2.5% to Peer-To-Peer features (such as Gospel Link sharing).
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* 4% is allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper)
<li>3% is given to Proof-Of-Biblehash (heat POW) miners
 
<li>38.5% is given to the longest waiting Sanctuary
 
<li>38.5% is given to the Proof-Of-Distributed Computing (Cancer Research budget)
 
</ul>
 
  
<ul>Deflation:
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== How to calculate a BiblePay reward schedule: ==
<li>The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
 
  
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* Block 70,000 has a gross reward of 11,645
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* Multiply 11645 * .20 to find the governance budget (2329)
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* Multiply 11645 * .375 to find the PODC budget (4308)
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* Multiply 11645 * .385 to find the Sanctuary payment (4492)
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* Multiply 11645 * .042 to find the POW heat miner allocation (499)
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* Multiply 499 * .20 to find the Reaper Reward (100).
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* Multiply 499 * .80 to find the POG Pool allocation (399).
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* Total : 100%
  
</ul>
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== Gross breakdown of Governance Budget: ==
  
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* Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
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* IT Expenses and Payroll: 25%
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* PR and Campaigns: 12.5%
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* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%
  
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== Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward): ==
  
[http://wiki.biblepay.org/Emission_Schedule BiblePay Emission Schedule]
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* 46.5% is given to PODC cancer miners
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* 48.5% is given to the Sanctuary
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*  5% is given to POW/POG Pool
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== Deflation: ==
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The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
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See [[Emission Schedule|BiblePay Emission Schedule]] for more details.
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[[Category:BiblePay Economics]]

Revision as of 19:28, 28 February 2019

BiblePay Economics:

Gross Block Breakdown:

  • Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year
  • 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR)
  • 37.5% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock)
  • 38.5% is given to the next due Sanctuary
  • 4% is allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper)

How to calculate a BiblePay reward schedule:

  • Block 70,000 has a gross reward of 11,645
  • Multiply 11645 * .20 to find the governance budget (2329)
  • Multiply 11645 * .375 to find the PODC budget (4308)
  • Multiply 11645 * .385 to find the Sanctuary payment (4492)
  • Multiply 11645 * .042 to find the POW heat miner allocation (499)
  • Multiply 499 * .20 to find the Reaper Reward (100).
  • Multiply 499 * .80 to find the POG Pool allocation (399).
  • Total : 100%

Gross breakdown of Governance Budget:

  • Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
  • IT Expenses and Payroll: 25%
  • PR and Campaigns: 12.5%
  • Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%

Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward):

  • 46.5% is given to PODC cancer miners
  • 48.5% is given to the Sanctuary
  • 5% is given to POW/POG Pool

Deflation:

The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.

See BiblePay Emission Schedule for more details.