Difference between revisions of "Economics"

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(Created page with "BiblePay Economics: <ul> <li>Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy) <li>10% is...")
 
 
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BiblePay Economics:
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== BiblePay Economics: ==
  
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== Gross Block Breakdown: ==
  
<ul>
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* Block Emission Level: Starting at 20,000 BBP at inception and decreasing by 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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* 15% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT)
<li>10% is given to Charity (IE compassion.com) through the sanctuary voted budget
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* 85% is rewarded to our Sanctuaries for Services and block security
<li>5% is given to IT (through sanctuary voted IT expenses, such as IT payroll, letter writing, PR etc)
 
<li>Out of the 85% remaining it is split between one cold chosen sanctuary, who provides POSE (proof of service) that has waited longest to get paid, and the miner who found the block
 
  
<ul>Deflation:
 
<li>The deflation rate of our emission will be 1.5% Per Month after Christmas
 
<li>Each block rewards 10% in retirement coins to the miner who found the block, in colored coins called rBBP.  These can be traded on the secondary
 
market inside the wallet with other biblepay participants for BBP.  The retirement coins emission rate drops by 1% Per Day.
 
  
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== Gross breakdown of Governance Budget: ==
  
[http://wiki.biblepay.org/Emission_Schedule BiblePay Emission Schedule]
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* Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
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* IT Expenses and Payroll: 33%
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== Gross breakdown of Sanctuary Service reward: ==
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* 99% is given for POVS (Proof of video storage)
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* 1% is given to the sanctuary for Block Security (POW mining)
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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]]

Latest revision as of 14:52, 27 November 2022

BiblePay Economics:

Gross Block Breakdown:

  • Block Emission Level: Starting at 20,000 BBP at inception and decreasing by 19.5% per year.
  • 15% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT)
  • 85% is rewarded to our Sanctuaries for Services and block security


Gross breakdown of Governance Budget:

  • Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
  • IT Expenses and Payroll: 33%

Gross breakdown of Sanctuary Service reward:

  • 99% is given for POVS (Proof of video storage)
  • 1% is given to the sanctuary for Block Security (POW mining)

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.