Difference between revisions of "Economics"

Revision as of 13:23, 2 January 2018

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)
2.5% is given to PR, 2.5% to Peer-To-Peer features (such as Gospel Link sharing).
Out of the 80% remaining, this amount is split between a chosen sanctuary, who provides POSE (proof of service) that has waited longest to get paid, and the miner who found the block.

The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.

@@ Line 6: / Line 6: @@
 <li>10% is given to Charity (IE compassion.com) through the sanctuary voted budget
 <li>5% is given to IT (through sanctuary voted IT expenses, such as IT payroll, letter writing, PR etc)
-<li>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
+<li>2.5% is given to PR, 2.5% to Peer-To-Peer features (such as Gospel Link sharing).
+<li>Out of the 80% remaining, this amount is split between a chosen sanctuary, who provides POSE (proof of service) that has waited longest to get paid, and the miner who found the block.
 </ul>
 <ul>Deflation:
-<li>The deflation rate of our emission will be 1.5% Per Month after Christmas
+<li>The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.
-<li>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.
+<li>
 </ul>