Difference between revisions of "Getting Started"

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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.
 
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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''' What is the RPC console, and how do I get to it? '''
 
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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. 
 
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The reason to go here is to access the wallets more advanced commands.
 
  
  
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''' What is a staking reward, and how do I stake BBP, and what is DWU? '''
 
''' What is a staking reward, and how do I stake BBP, and what is DWU? '''
  
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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). 
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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).   
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To stake BBP, you must have a coin in the wallet between 10K and 10MM.  Then run this command:
 
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easystake 1000000 1
 
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In the above example you would stake 1 Million BBP.
 
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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).
 
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''' How do I Stake BBP + DOGE together? '''
 
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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.   
 
  
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To do this, first find your DOGE receive address.  Type:
 
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getpin doge_receive_address
 
  
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The wallet responds with a 5 digit number.
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To stake BBP, navigate to https://unchained.biblepay.org | Portfolio Builder.
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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.
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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).
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Save the record.
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If you have questions, contact rob@biblepay.org.
  
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Next in BiblePay type:
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More information on staking:
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easystake 1000000 doge_address doge_amount 1
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https://wiki.biblepay.org/UTXO_Mining
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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.
 

Latest revision as of 15:09, 28 August 2021

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.



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 September 2021 the current rate is 20% for BBP annualized (we call this return the DWU, Dynamic whale-reward).


To stake BBP, navigate to https://unchained.biblepay.org | Portfolio Builder. 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). Save the record. If you have questions, contact [email protected].

More information on staking: https://wiki.biblepay.org/UTXO_Mining

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