Difference between revisions of "Economics"
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== BiblePay Economics: == | == BiblePay Economics: == | ||
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== Gross Block Breakdown: == | == Gross Block Breakdown: == | ||
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* 38.5% is given to the next due Sanctuary | * 38.5% is given to the next due Sanctuary | ||
* 4% is allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper) | * 4% is allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper) | ||
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== How to calculate a BiblePay reward schedule: == | == How to calculate a BiblePay reward schedule: == | ||
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* Multiply 499 * .80 to find the POG Pool allocation (399). | * Multiply 499 * .80 to find the POG Pool allocation (399). | ||
* Total : 100% | * Total : 100% | ||
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== Gross breakdown of Governance Budget: == | == Gross breakdown of Governance Budget: == | ||
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* PR and Campaigns: 12.5% | * PR and Campaigns: 12.5% | ||
* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | * Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5% | ||
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== Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward): == | == Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward): == | ||
| − | * 46.5% is given to PODC cancer miners | + | * 46.5% is given to PODC cancer miners |
| − | * 48.5% is given to the Sanctuary | + | * 48.5% is given to the Sanctuary |
| − | * 5% is given to POW/POG Pool | + | * 5% is given to POW/POG Pool |
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== Deflation: == | == Deflation: == | ||
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See [[Emission Schedule|BiblePay Emission Schedule]] for more details. | See [[Emission Schedule|BiblePay Emission Schedule]] for more details. | ||
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[[Category:BiblePay Economics]] | [[Category:BiblePay Economics]] | ||
Revision as of 19:28, 28 February 2019
Contents
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), deflating at 19.5% per year
- 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 allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper)
How to calculate a BiblePay reward schedule:
- Block 70,000 has a gross reward of 11,645
- Multiply 11645 * .20 to find the governance budget (2329)
- Multiply 11645 * .375 to find the PODC budget (4308)
- Multiply 11645 * .385 to find the Sanctuary payment (4492)
- Multiply 11645 * .042 to find the POW heat miner allocation (499)
- Multiply 499 * .20 to find the Reaper Reward (100).
- Multiply 499 * .80 to find the POG Pool allocation (399).
- 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 80% of Gross Coinbase Reward):
- 46.5% is given to PODC cancer miners
- 48.5% is given to the Sanctuary
- 5% is given to POW/POG Pool
Deflation:
The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
See BiblePay Emission Schedule for more details.
