# Difference between revisions of "Economics"

From BiblePay Wiki

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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 | * 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) | * 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) | ||

− | * | + | * 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock) |

− | * | + | * 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: == | == How to calculate a BiblePay reward schedule: == | ||

− | * Block | + | * Block 120,000 has a gross reward of 10,400 with a difficulty of 15701 |

− | * Multiply | + | * Multiply 10400 * .20 to find the governance budget |

− | * Multiply | + | * Multiply 10400 * .30 to find the GSC budget |

− | * Multiply | + | * Multiply 10400 * .25 to find the Sanctuary payment |

− | * Multiply | + | * Multiply 10400 * .25 to find the POW heat miner allocation |

− | |||

− | |||

* Total : 100% | * Total : 100% | ||

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* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | * Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | ||

− | == Gross breakdown of mining operations | + | == Gross breakdown of mining operations: == |

− | * | + | * 50% is given to POBH |

− | * | + | * 50% is given to Sanctuary |

− | |||

== Deflation: == | == Deflation: == |

## Revision as of 14:04, 28 June 2019

## Contents

## 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)
- 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock)
- 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:

- 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:

- 50% is given to POBH
- 50% is given to Sanctuary

## 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.