Economics
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)
- 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock
- 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 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 11,645 (POW=499+Sanc 4492= subtotal of 4991 / .30 = 16636 - (4492 - 499) = 11645 for gross coinbase emission)
- Multiply 11645 * .20 to find the governance budget (2329)
- Multiply 11645 * .375 to find the PODC budget (4492)
- Multiply 11645 * .385 to find the Sanctuary payment (4492)
- Multiply 11645 * .042 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): 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 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:
