Difference between revisions of "Economics"

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== Gross Block Breakdown: ==
 
== 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
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* Block Emission Level: Starting at 20,000 BBP at inception and decreasing by 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)
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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)
* 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock)
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* 85% is rewarded to our Sanctuaries for Services and block security
* 25% is given to the next due Sanctuary
 
* 25% is allocated to heat-mining (Proof-of-BibleHash POW mining)
 
  
== How to calculate a BiblePay reward schedule: ==
 
 
* Block 120,000 has a gross reward of 10,400 with a difficulty of 15701
 
* Multiply 10400 * .20 to find the governance budget
 
* Multiply 10400 * .30 to find the GSC budget
 
* Multiply 10400 * .25 to find the Sanctuary payment
 
* Multiply 10400 * .25 to find the POW heat miner allocation
 
* Total : 100%
 
  
 
== Gross breakdown of Governance Budget: ==
 
== Gross breakdown of Governance Budget: ==
  
* Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
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* Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
* IT Expenses and Payroll: 25%
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* IT Expenses and Payroll: 33%
* PR and Campaigns: 12.5%
 
* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%
 
  
== Gross breakdown of mining operations: ==
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== Gross breakdown of Sanctuary Service reward: ==
  
* 50% is given to POBH (Heat Mining - POW)
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* 99% is given for POVS (Proof of video storage)
* 50% is given to Sanctuary
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* 1% is given to the sanctuary for Block Security (POW mining)
  
 
== Deflation: ==
 
== Deflation: ==

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.