Difference between revisions of "Economics"
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Revision as of 15:05, 18 October 2017
BiblePay Economics:
- Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy)
- 10% is given to Charity (IE compassion.com) through the sanctuary voted budget
- 5% is given to IT (through sanctuary voted IT expenses, such as IT payroll, letter writing, PR etc)
- Out of the 85% remaining it is split between one cold chosen sanctuary, who provides POSE (proof of service) that has waited longest to get paid, and the miner who found the block
- Deflation:
- The deflation rate of our emission will be 1.5% Per Month after Christmas
- Each block rewards 10% in retirement coins to the miner who found the block, in colored coins called rBBP. These can be traded on the secondary market inside the wallet with other biblepay participants for BBP. The retirement coins emission rate drops by 1% Per Day. BiblePay Emission Schedule
