UTXO Mining - Revision history

Admin at 14:27, 4 August 2021

2021-08-04T14:27:17Z

Sntjo2847: Add notice that UTXO has been upgraded / rebranded as Portfolio Builder so that people do not waste time trying to use it.

2021-06-24T13:32:59Z

Add notice that UTXO has been upgraded / rebranded as Portfolio Builder so that people do not waste time trying to use it.

Admin at 14:08, 15 April 2021

2021-04-15T14:08:21Z

Admin at 14:02, 15 April 2021

2021-04-15T14:02:18Z

Admin at 13:54, 15 April 2021

2021-04-15T13:54:46Z

Admin at 12:05, 5 April 2021

2021-04-05T12:05:35Z

Admin at 23:25, 2 April 2021

2021-04-02T23:25:38Z

Admin at 23:51, 1 April 2021

2021-04-01T23:51:47Z

Admin at 23:31, 1 April 2021

2021-04-01T23:31:23Z

Admin at 14:14, 11 March 2021

2021-03-11T14:14:46Z

@@ Line 43: / Line 43: @@
-''' How to stake with BBP only (no foreign currency involved) - for the Conservative User '''
+''' How to stake with BBP only (no foreign currency involved) '''
-Conservative BBP staking, with BBP only means that you are free to spend your stake at any time and there will be no fee charged for spending your stake.  However the reward level is less in conservative staking than high-risk staking.  As of April 2021 the DWU reward is approx. 14.5% for conservative.  To accomplish this type of stake, pick an amount of BBP between 10K and 10MM and type the following:
+From Misc Menu | Click Portfolio Builder | Choose BBP | Enter an Amount you wish to Stake | Click Submit
@@ Line 129: / Line 94: @@
 As a second example, let us say you want to stake .10 BTC, and your BTC pin is 23456:  Send .1023456 or .10023456 - either are valid).
 For more information see here:

← Older revision		Revision as of 13:32, 24 June 2021
Line 1:		Line 1:
		+	'''UTXO has been upgraded and rebranded as Portfolio Builder as of June 23, 2021. This page is only for historical reference.'''<br />
		+	See [https://forum.biblepay.org/index.php?topic=517.msg11023#msg11023 1.6.2.4 Mandatory Upgrade Changes]<br />
		+	[[Portfolio_Builder\|Portfolio_Builder]]<br />
		+
		+	<br /><br />
		+
	'''UTXO Mining/UTXO Staking'''		'''UTXO Mining/UTXO Staking'''

← Older revision		Revision as of 14:08, 15 April 2021
Line 62:		Line 62:
	If you are happy with the quoted DWU, run the command for real as follows:		If you are happy with the quoted DWU, run the command for real as follows:

−	~~easybbpstake~~ bbp_amount 1 duration_in_days	+	highriskbbpstake bbp_amount 1 duration_in_days

@@ Line 56: / Line 56: @@
 Using our high-risk mode, you will earn up to double the DWU reward depending on how long you decide to lock the coins.  You may choose to lock them between 31-365 days.  If you want to lock them for 6 months, the reward is approx. 1.5* the normal amount per day.  If you lock them for 365 days, the reward is 2* the DWU quoted for conservative stakers.  To initiate a high-risk stake type the following:
-  easybbpstake bbp_amount duration_in_days 0
+  highriskbbpstake bbp_amount 0 duration_in_days
 If you are happy with the quoted DWU, run the command for real as follows:
-  easybbpstake bbp_amount duration_in_days 1
+  easybbpstake bbp_amount 1 duration_in_days
@@ Line 66: / Line 68: @@
 ''' How to stake BBP + Foreign currency together, for the High-Risk individual '''
-  easystake min_bbp_amount foreign_currency_address foreign_currency_amount commitment_duration_in_days 0
+  highriskstake min_bbp_amount foreign_currency_address foreign_currency_amount commitment_duration_in_days 0
 Where foreign_currency_address equals the address of your foreign currency.  Note that you should first use 'getpin foreign_address' and ensure you have sent an amount of foreign currency to yourself with a suffix matching your pin (see our video below to understand that more).
@@ Line 73: / Line 75: @@
 Note with BBP + Foreign, you earn double the rate as compared to BBP alone, however on the lower amount of the two in USD.  Additionally this is multiplied by the high-risk multiplier, meaning you can make 4* the amount of rewards!
@@ Line 101: / Line 104: @@
 If the word gets out that one may earn staking returns on latent crypto, theoretically millions of UTXOs can be locked and word of mouth increases.  In contrast to diminishing returns with mining to pay for electricity.

@@ Line 41: / Line 41: @@
 Conservative BBP staking, with BBP only means that you are free to spend your stake at any time and there will be no fee charged for spending your stake.  However the reward level is less in conservative staking than high-risk staking.  As of April 2021 the DWU reward is approx. 14.5% for conservative.  To accomplish this type of stake, pick an amount of BBP between 10K and 10MM and type the following:
-  easybbpstake bbp_amount 0 0
+  easybbpstake bbp_amount 0
 If you are happy with the quoted DWU, run the command for real as follows:
-  easybbpstake bbp_amount 0 1
+  easybbpstake bbp_amount 1

@@ Line 75: / Line 75: @@
 ''' Mining Transactions '''
-Remember that we will not get retire RandomX, therefore the chain is secure due to our merge-mining nature.
+Remember that we will not be retiring RandomX, therefore the chain is secure due to our merge-mining nature.
 Therefore we can shift our RX rewards over to Staking Rewards (for our new stake transactions).

@@ Line 34: / Line 34: @@
 In addition to being a sponsor for orphans, the sanctuaries will be our Oracles.  They will loop through the list of UTXOs, and confirm them.
 Each day, the GSC reward contract will be verified and only bona-fide stakes will be counted.
@@ Line 135: / Line 171: @@
 Note that in bankrolling we also give you back ten bills of 10 BBP, and these are used to fund the UTXO (which costs 1 bbp).  This is the reason 'insufficient funds' occurred in the prior Q-A.  If you want to avoid the exec bankroll command, just ensure you have a few BBP coins less than 100 bbp in the wallet, and you have at least one coin between 10K-10MM in the wallet for a future utxo, and using this manual method you may manually create utxo stakes also (without bankroll commands).

@@ Line 68: / Line 68: @@
-We currently support BTC, LTC, DOGE and DASH hybrid staking, and singular BBP easy-staking.  Note that we call the non-biblepay receiving address the 'foreign receive address' and we call the BBP receive address the 'native receive address'.
+We currently support BTC, LTC, DOGE, ETHEREUM and DASH hybrid staking, and singular BBP easy-staking.  Note that we call the non-biblepay receiving address the 'foreign receive address' and we call the BBP receive address the 'native receive address'.
 To create a stake you just need the 5 digit pin of the foreign receiving address.  To find this, go to BBP RPC, and type
@@ Line 82: / Line 82: @@
 Next, go to biblepay, and type:
-  easystake min_bbp_amount foreign_address 0/1
+  easystake min_bbp_amount foreign_address 0 0/1
 Where min_bbp_amount is the corresponding amount of BIBLEPAY that you wish to stake, and foreign address is the receiving address you sent the funds to.

@@ Line 112: / Line 112: @@
 ''' FAQ '''
 Q: I cannot see myself in the leaderboard with my new easybbpstake utxo transaction, why?
 A: Please navigate to User Record from the top menu, and ensure you have populated the NickName, and click save.  This gives you an RSA keypair and a nickname.
 Q: I see 'insufficient funds' error when I try to create a utxo stake.  Even though I have the funds.
 A:  Please ensure your wallet has at least one coin less than 100bbp in it that is extra.  You can see this in coin control.  To ensure you have the right coins, you should bankroll your wallet first.  See the next faq.
 Q: How do I bankroll my wallet and why do I want to do this?
-A:  Bankrolling the wallet denominates it into distinct bills.  This is good to do because UTXO stakes must use coins between 10,000 BBP and 10MM BBP.  Therefore if for example your wallet has one coin worth 20MM or 10 coins worth 999 bbp, the Utxo staking commands will skip by those coins (as they are too big or too small).  A good rule of thumb to start is to divide the amount you have in your wallet by 1MM, therefore if you have 9MM bbp divide by 1MM you get 9.  Then type:
-exec bankroll 9 1000000 (this would give you 9 bills of 1MM each).  Then you will be able to create 9 utxo stakes later.
+A:  Bankrolling the wallet denominates it into distinct bills.  This is good to do because UTXO stakes must use coins between 10,000 BBP and 10MM BBP.  Therefore if for example your wallet has one coin worth 20MM or 10 coins worth 999 bbp, the Utxo staking commands will skip by those coins (as they are too big or too small).  A good rule of thumb to start is to divide the amount you have in your wallet by 1MM, therefore if you have 9MM bbp divide by 1MM you get 9.
-Otoh, if you have 50K, type 'exec bankroll 5 10000' this would create 5 bills of 10K each, good for five 10K stakes.
+Then type:
 Note that in bankrolling we also give you back ten bills of 10 BBP, and these are used to fund the UTXO (which costs 1 bbp).  This is the reason 'insufficient funds' occurred in the prior Q-A.  If you want to avoid the exec bankroll command, just ensure you have a few BBP coins less than 100 bbp in the wallet, and you have at least one coin between 10K-10MM in the wallet for a future utxo, and using this manual method you may manually create utxo stakes also (without bankroll commands).