Difference between revisions of "Economics"
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<li>3% is rewarded to the heat miner (Proof-of-BibleHash POW mining) | <li>3% is rewarded to the heat miner (Proof-of-BibleHash POW mining) | ||
</ul> | </ul> | ||
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| + | <p> | ||
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<ul><b>How to calculate a BiblePay reward schedule:</b> | <ul><b>How to calculate a BiblePay reward schedule:</b> | ||
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<li>Multiply 16636 * .27 to find the Sanctuary payment (4491) | <li>Multiply 16636 * .27 to find the Sanctuary payment (4491) | ||
<li>Multiply 16636 * .03 to find the POW heat miner payment (499) | <li>Multiply 16636 * .03 to find the POW heat miner payment (499) | ||
| − | <li>Total | + | <li>Total : 100% |
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</ul> | </ul> | ||
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<li>Peer-to-Peer (Letter writing, gospel links, pay to preach): 2.5% | <li>Peer-to-Peer (Letter writing, gospel links, pay to preach): 2.5% | ||
</ul> | </ul> | ||
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<li>5% is given to POW heat miners</li> | <li>5% is given to POW heat miners</li> | ||
| + | <p> | ||
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Revision as of 16:06, 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)
- 40% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock
- 30% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock)
- 27% is given to the next due Sanctuary
- 3% 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 16,636 (POW=499+Sanc 4492= subtotal of 4991 / .30 = 16636 gross coinbase emission)
- Multiply 16636 * .40 to find the governance budget (6654)
- Multiply 16636 * .30 to find the PODC budget (4990)
- Multiply 16636 * .27 to find the Sanctuary payment (4491)
- Multiply 16636 * .03 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): 10%
- IT Expenses and Payroll: 5%
- PR and Campaigns: 2.5%
- Peer-to-Peer (Letter writing, gospel links, pay to preach): 2.5%
- 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:
