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Admin at 00:32, 15 April 2021

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Admin: Created page with "''' Expectations / Common Use Cases of BiblePay ''' This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish ou..."

2021-04-15T00:31:46Z

Created page with "''' Expectations / Common Use Cases of BiblePay ''' This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish ou..."

New page

''' Expectations / Common Use Cases of BiblePay '''

This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.

''' What is the RPC console, and how do I get to it? '''

The RPC console is a place inside the biblepay-core wallet that lets you type in advanced commands. To get to this area, click Tools | Debug Console.
The reason to go here is to access the wallets more advanced commands.

''' How do I Mine BiblePay with RandomX and what is merge mining? '''

We are a proof-of-work based RandomX merge-mined coin. Merge mining means you receive rewards from two currencies when you mine BBP (both BBP & XMR). This reduces your total electricity costs significantly.
For RandomX, you use a regular PC to mine.
To Mine see this setup guide:
https://wiki.biblepay.org/Upgrade_to_RandomX

''' What is a staking reward, and how do I stake BBP, and what is DWU? '''

Staking is the process of allocating one of your BBP coins in the wallet and locking it in a contract so it can't be easily spent (although you can unlock it and spend it if you decide you need the funds). This coin is stored in a smart contract. As long as the coin is in the contract (and unspent) you receive rewards on this stake daily. Our staking rewards return a dynamic daily payment (based on all current stake yields ascertained from the available daily budget), and as of April 2021 the current rate is 12.5% for BBP annualized (we call this return the DWU, Dynamic whale-reward).

To stake BBP, you must have a coin in the wallet between 10K and 10MM. Then run this command:
easystake 1000000 1
In the above example you would stake 1 Million BBP.

(Note that when you 'stake' the biblepay, it is not lost, it is still under your control and you may remove it from the contract later when you need it).

''' How do I Stake BBP + DOGE together? '''

When you launch a hybrid stake (a combined stake of BBP plus a foreign ticker) you earn up to double the rewards (based on the lower of the two values). For example, if you have $2K of DOGE and $1K of BBP, the hybrid stake earns 27% DWU on $1k.

To do this, first find your DOGE receive address. Type:
getpin doge_receive_address

The wallet responds with a 5 digit number.
Next send yourself a certain amount of DOGE from your DOGE light wallet, but, change the suffix of the amount to the 5 digit pin. For example, if you are staking 10000 DOGE, and your pin is 12345, send 10000.12345.

Next in BiblePay type:
easystake 1000000 doge_address doge_amount 1
Where doge_address is the receive address you sent your DOGE to, and doge_amount is the amount of the DOGE you are staking. In this example we are staking 1MM BBP.

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 This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.
@@ Line 23: / Line 17: @@
 ''' What is a staking reward, and how do I stake BBP, and what is DWU? '''
-Staking is the process of allocating one of your BBP coins in the wallet and locking it in a contract so it can't be easily spent (although you can unlock it and spend it if you decide you need the funds).  This coin is stored in a smart contract.  As long as the coin is in the contract (and unspent) you receive rewards on this stake daily.  Our staking rewards return a dynamic daily payment (based on all current stake yields ascertained from the available daily budget), and as of April 2021 the current rate is 13.5% for BBP annualized (we call this return the DWU, Dynamic whale-reward).
+Staking is the process of allocating one of your BBP coins in the wallet and locking it in a contract so it can't be easily spent (although you can unlock it and spend it if you decide you need the funds).  This coin is stored in a smart contract.  As long as the coin is in the contract (and unspent) you receive rewards on this stake daily.  Our staking rewards return a dynamic daily payment (based on all current stake yields ascertained from the available daily budget), and as of September 2021 the current rate is 20% for BBP annualized (we call this return the DWU, Dynamic whale-reward).
-Next in BiblePay type:
+To stake BBP, navigate to https://unchained.biblepay.org | Portfolio Builder.
-  easystake 1000000 doge_address doge_amount 1
+From there, select BBP as the cryptocurrency.  Enter a receive address where you have funded your stake (be sure the amount sent ends in your 5 digit pin).
-Where doge_address is the receive address you sent your DOGE to, and doge_amount is the amount of the DOGE you are staking.  In this example we are staking 1MM BBP.
+Save the record.
 More information on staking:
 https://wiki.biblepay.org/UTXO_Mining

← Older revision		Revision as of 00:32, 15 April 2021
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−	''' Common Use Cases ~~of BiblePay~~ '''	+	''' Common Use Cases '''

	This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.		This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.

← Older revision		Revision as of 00:32, 15 April 2021
Line 1:		Line 1:
−	''' ~~Expectations /~~ Common Use Cases of BiblePay '''	+	''' Common Use Cases of BiblePay '''

	This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.		This page serves as a very high level guide that will show you what to expect with BiblePay, and how you can accomplish our most important functions.

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 (Note that when you 'stake' the biblepay, it is not lost, it is still under your control and you may remove it from the contract later when you need it).
@@ Line 46: / Line 48: @@
   easystake 1000000 doge_address doge_amount 1
 Where doge_address is the receive address you sent your DOGE to, and doge_amount is the amount of the DOGE you are staking.  In this example we are staking 1MM BBP.

@@ Line 23: / Line 23: @@
 ''' What is a staking reward, and how do I stake BBP, and what is DWU? '''
-Staking is the process of allocating one of your BBP coins in the wallet and locking it in a contract so it can't be easily spent (although you can unlock it and spend it if you decide you need the funds).  This coin is stored in a smart contract.  As long as the coin is in the contract (and unspent) you receive rewards on this stake daily.  Our staking rewards return a dynamic daily payment (based on all current stake yields ascertained from the available daily budget), and as of April 2021 the current rate is 12.5% for BBP annualized (we call this return the DWU, Dynamic whale-reward).
+Staking is the process of allocating one of your BBP coins in the wallet and locking it in a contract so it can't be easily spent (although you can unlock it and spend it if you decide you need the funds).  This coin is stored in a smart contract.  As long as the coin is in the contract (and unspent) you receive rewards on this stake daily.  Our staking rewards return a dynamic daily payment (based on all current stake yields ascertained from the available daily budget), and as of April 2021 the current rate is 13.5% for BBP annualized (we call this return the DWU, Dynamic whale-reward).
 To stake BBP, you must have a coin in the wallet between 10K and 10MM.  Then run this command: