Difference between revisions of "Economics"
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<ul><b>Gross Block Breakdown:</b> | <ul><b>Gross Block Breakdown:</b> | ||
<li>Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy) | <li>Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy) | ||
| − | <li>20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock | + | <li>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) |
<li>37.5% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock) | <li>37.5% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock) | ||
<li>38.5% is given to the next due Sanctuary | <li>38.5% is given to the next due Sanctuary | ||
Revision as of 16:55, 6 October 2018
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)
- 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)
- 38.5% is given to the next due Sanctuary
- 4% is rewarded to the heat miner (Proof-of-BibleHash POW mining)
- How to calculate a BiblePay reward schedule:
- Block 70,000 has a gross reward of 11,645 (POW=499+Sanc 4492= subtotal of 4991 / .30 = 16636 - (4492 - 499) = 11645 for gross coinbase emission)
- Multiply 11645 * .20 to find the governance budget (2329)
- Multiply 11645 * .375 to find the PODC budget (4492)
- Multiply 11645 * .385 to find the Sanctuary payment (4492)
- Multiply 11645 * .042 to find the POW heat miner payment (499)
- 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 (Allocation of 60% of Gross Coinbase Reward):
- 52.5% is given to PODC cancer miners
- 45% is given to the Sanctuary
- 5% is given to POW heat miners
- The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
- Deflation:
