Launched in July 2017 with no premine and ICO, BiblePay describes itself as a decentralized autonomous cryptocurrency that gives 10% to orphan-charity (with Sanctuary governance). The project is passionate about spreading the gospel of Jesus, having the entire KJV bible compiled in its hashing algorithm (POBH). BiblePay (BBP) is deflationary, decreasing its emissions by 19.5% per year.
The project views itself as a utility that provides an alternative method for giving to charity. With Generic Smart Contracts, the project seeks to become the go-to wallet for Christians. In the future, the team intends to lease file space on its Sanctuaries and release corporate integration features, such as c# access to the blockchain. The BiblePay platform is a derivative of Dash-Evolution. Located in Dallas, TX, the team seeks to help orphans globally. The roadmap can be viewed at: https://wiki.biblepay.org/Roadmap
How to Mine or Earn BiblePay
- We have three different methods available to earn BBP:
- Running a Sanctuary (25%)
- Heat mining (25%)
- GSC campaigns (40%)
Running a Sanctuary
In this endeavor, you provide (IE lock up) 4,500,001 BiblePay in the block chain (this is the amount of collateral you must store in the collateral transaction for your sanctuary).
While you provide sanctuary services to the network, your (receiving address) will receive one reward per payment cycle (approx. 25% of our blockchain rewards).
Do it yourself guide: https://wiki.biblepay.org/Create_Sanctuary_2
Or, to create a turnkey sanctuary through GIN: https://p.ginplatform.io/#!/
To heat mine (our form of POW (proof-of-work) is called POBH (proof-of-bible-hash)), you only need to have your home PC running the full biblepay-qt client. Approx. 25% of our blockchain rewards are paid to heat miners.
We have two types of heat mining: ABN and non ABN.
ABN mining requires an investment (of 125,000 coin*age). (This is approximately 125,000 bbp aged for one day).
In this scenario, the miner puts up a stake, in an ABN transaction, that is required in order to mine. This miner will make more rewards, than a non-abn miner (they will receive the entire POW reward if solo mining, while a non-abn miner will only receive 80% of the reward and is forced to pool mine).
How to Set Up Solo Mining
To solo mine with an ABN, ensure you have enough ABN weight with this command: 'exec getabnweight 125000'. If you have more than 125,000 you are eligible to solo mine (or pool mine) with an ABN.
Create your biblepay.conf file:
gen=1 genproclimit=number_of_cores (Choose a number to replace number_of_cores that is the desired amount of CPU utilization. For example if you have 4 cores, start with 4 and raise it until your CPU utilization is at the desired level).
Setup for Pool Mining:
Create a biblepay.conf file:
pool=https://pool.biblepay.org workerid=your_worker_name (replace with your pool.biblepay.org worker name) gen=1 genproclimit=number_of_cores
Create an account on https://pool.biblepay.org
Create a worker on pool.biblepay.org (navigate to Workers | Add) - When creating the worker, choose "Non-Funded ABN" (the default), meaning you provide the ABN.
Turnkey heat mining (mining without sufficient ABN weight):
If you don't have enough BBP to mine with an ABN yet, no worries, you can still get started immediately and pool mine, and receive a reward reduced by the dynamic cost of funded ABNs.
(See the pool.biblepay.org about page for the funded ABN fee - it is currently 24% as of July 12th). (The profit that funded ABNs pay is split among all remaining pool participants with ABNs).
Follow the Pool Mining instructions above to create a pool account, create the same biblepay.conf file, except when creating your worker in the pool - choose "Funded ABN". The pool worker type designates the payment mechanism. When you start your miner, you will see a specific message (mining with funded ABN).
Dual Funded/Non Funded ABN Mining
If you would like to use your internal (self funded) ABN the majority of the time, but fall back to a funded ABN when your personal ABN is depleted, you may set the following keys:
BiblePay Core will test your ABN, and attempt to pool mine with the default workerID, unless it finds insufficient ABN weight. Then it will pool mine with your workeridfunded workerid as a fallback plan.
GSC Campaigns: (40% of our emissions)
We currently have POG and Healing campaigns. These campaigns are similar to homogenized proof-of-stake + proof-of-donation (to our foundation).
You will receive rewards based on your free balance in coin*age, mulitplied by a factor corresponding to how much you donated to the orphan foundation.
The POG campaign (proof-of-giving) rewards you for: GSC transmissions containing your internal coin age, plus giving a donation to the foundation. As an example, if you have a 100,000 BBP balance, with 1 day of coin age, since you have 100K coin*age, you would receive a reward of approximately 1% per day (as of July 11th) with a small tithe amount (of 2.50). Depending on the competition level and the tithe amount, your reward will vary.
- Steps to join the POG campaign and receive POG rewards:
- Create a CPK (Christian-public keypair). Type 'exec cpk your_nickname' into the RPC.
- Type exec join pog
- The default giving amount is 2.50 bbp per day (to the foundation). If you would like to change this, change the key:
pog_foundationdonation=nnnn (replace nnnn with the amount you want to tithe per 12 hours).
To find the project reward for POG, type
More information on POG and GSC can be found here: https://wiki.biblepay.org/Getting_Started_with_Evolution
The Healing campaign rewards you for creating diary entries (such as when you pray for another person, or when you participate in outdoor street healing, or spiritual warfare). To create a diary entry, go to the Send page, click the Diary checkbox, and type the entry in the Diary textbox and click Send. You must join the Healing campaign with the command 'exec join healing' first.
BiblePay long term outlook
- Why be bullish for BBP:
- There are over 2.2Billion Christians on the planet
- We have deflationary emissions, of 19.5% per year
- We are derived from Dash, a stable and respected codebase, with governance and sanctuaries
- We give 10% of our blockchain emissions directly to sponsor orphans through 75%+ efficient charities such as Compassion and Cameroon One
- When you hold BBP as an asset, you are helping over 100 orphans per month be fed, clothed and educated
- We are one of the few who will offer c# integration within one year
- We have a solid use case being released at the end of 2019: decentralized leased Christian file storage, Voting on Christian objects, and Viewing Christian objects
- Over 40 unique features that make us worthy of the top 100: https://wiki.biblepay.org/Nutrition_Information
What Good has BiblePay done for the world?
- BiblePay currently sponsors 105 orphans monthly through Compassion, Cameroon One, SXS Uganda, HOFC Kenya, and Kairos Childrens Fund
- BiblePay not only pays for Christian Education and meals, but at SXS and HOFC Kenya, we also pay for boarding and regular education.
- We are currently helping over 10 children where both parents had AIDS and abandoned the child (speak to pastor Joshua in Kenya).
- See http://accountability.biblepay.org for a detailed list of how much help we have provided globally.
- BiblePay has spent over $201,000 in expenses for Orphans in the last two years.
- BiblePay has liquidated over $200,000 in blockchain tithes to help orphans.
- BiblePay has donated to Hope For Widows.
- See BiblePay's orphan collage as of August 2018: http://pool.biblepay.org/docs/SponsorshipsAugust2018.pdf
- For investors who seek cryptocurrency exposure, we are a feel-good deflationary cryptocurrency, spending 10% of our emissions on orphan-charity