Economics - Revision history

Admin at 14:52, 27 November 2022

2022-11-27T14:52:55Z

Admin at 14:57, 28 August 2021

2021-08-28T14:57:07Z

Admin at 14:10, 28 June 2019

2019-06-28T14:10:59Z

Admin at 14:04, 28 June 2019

2019-06-28T14:04:00Z

Sunk818 at 19:28, 28 February 2019

2019-02-28T19:28:42Z

Sunk818 at 19:27, 28 February 2019

2019-02-28T19:27:07Z

Sunk818: change to wiki formatting

2019-02-28T19:25:12Z

change to wiki formatting

Admin at 15:05, 28 February 2019

2019-02-28T15:05:31Z

Admin at 15:04, 28 February 2019

2019-02-28T15:04:28Z

Admin at 15:03, 28 February 2019

2019-02-28T15:03:55Z

@@ Line 3: / Line 3: @@
 == 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
+* 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)
+* 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 Daily Portfolio Builder Rewards (UTXO Staking)
+* 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): 50%
+* Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
-* IT Expenses and Payroll: 25%
+* IT Expenses and Payroll: 33%
-== Gross breakdown of mining operations: ==
+== Gross breakdown of Sanctuary Service reward: ==
-* 50% is given to RandomX (POW)
+* 99% is given for POVS (Proof of video storage)
-* 50% is given to Sanctuary
+* 1% is given to the sanctuary for Block Security (POW mining)
 == Deflation: ==

@@ Line 5: / Line 5: @@
 * 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)
+* 30% is escrowed for Daily Portfolio Builder Rewards (UTXO Staking)
 * 25% is given to the next due Sanctuary
-* 25% is allocated to heat-mining (Proof-of-BibleHash POW mining)
+* 25% is allocated to Proof-Of-Work (RandomX Mining)
 == Gross breakdown of Governance Budget: ==
-* Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
+* Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 50%
 * IT Expenses and Payroll: 25%
 * PR and Campaigns: 12.5%
@@ Line 27: / Line 19: @@
 == Gross breakdown of mining operations: ==
-* 50% is given to POBH (Heat Mining - POW)
+* 50% is given to RandomX (POW)
 * 50% is given to Sanctuary

@@ Line 27: / Line 27: @@
 == Gross breakdown of mining operations: ==
-* 50% is given to POBH
+* 50% is given to POBH (Heat Mining - POW)
 * 50% is given to Sanctuary

@@ Line 5: / Line 5: @@
 * 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)
+* 30% is escrowed for GSC (Generic Smart Contracts - emitted in one daily superblock)
-* 38.5% is given to the next due Sanctuary
+* 25% 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)
+* 25% is allocated to heat-mining (Proof-of-BibleHash POW mining)
 == How to calculate a BiblePay reward schedule: ==
-* Block 70,000 has a gross reward of 11,645
+* Block 120,000 has a gross reward of 10,400 with a difficulty of 15701
-* Multiply 11645 * .20 to find the governance budget (2329)
+* Multiply 10400 * .20 to find the governance budget
-* Multiply 11645 * .375 to find the PODC budget (4308)
+* Multiply 10400 * .30 to find the GSC budget
-* Multiply 11645 * .385 to find the Sanctuary payment (4492)
+* Multiply 10400 * .25 to find the Sanctuary payment
-* Multiply 11645 * .042 to find the POW heat miner allocation (499)
+* Multiply 10400 * .25 to find the POW heat miner allocation
 * Total : 100%
@@ Line 27: / Line 25: @@
 * Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%
-== Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward): ==
+== Gross breakdown of mining operations: ==
-* 46.5% is given to PODC cancer miners
+* 50% is given to POBH
-* 48.5% is given to the Sanctuary
+* 50% is given to Sanctuary
 == Deflation: ==

@@ Line 1: / Line 1: @@
 == BiblePay Economics: ==
 == Gross Block Breakdown: ==
@@ Line 11: / Line 8: @@
 * 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: ==
@@ Line 23: / Line 19: @@
 * Multiply 499 * .80 to find the POG Pool allocation (399).
 * Total : 100%
 == Gross breakdown of Governance Budget: ==
@@ Line 31: / Line 26: @@
 * 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</li>
+* 46.5% is given to PODC cancer miners
-* 48.5% is given to the Sanctuary</li>
+* 48.5% is given to the Sanctuary
-*  5% is given to POW/POG Pool</li>
+*  5% is given to POW/POG Pool
 == Deflation: ==
@@ Line 46: / Line 38: @@
 See [[Emission Schedule|BiblePay Emission Schedule]] for more details.
 [[Category:BiblePay Economics]]

@@ Line 14: / Line 14: @@
 <ul><b>How to calculate a BiblePay reward schedule:</b>
-<li>Block 70,000 has a gross reward of 11,645 (Getblocksubsidy = 16636 - Sanctuary Reward - heat miner allocation = 11645)
+<li>Block 70,000 has a gross reward of 11,645
 <li>Multiply 11645 * .20 to find the governance budget (2329)
 <li>Multiply 11645 * .375 to find the PODC budget (4308)