Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
bible_pay
on 01/10/2017, 15:46:18 UTC
Regarding Sanctuaries at Christmas:

Ive been thinking of the economics for the sanctuary reward, and Id like to make one final change before Christmas to the parameters so there are no surprises:

Id like to give masternodes 50% of the block reward, 10% to our sactuary DAO budget for charity items, and 5% to our DAO IT budget, leaving 35% for the miner who mined the block.

This decision was based on the spirit that we are not a mining organization we are a DAC - Decentralized Autonomous Charitable Org, seeking a place in the Top 5 on coinmarketcap, once we establish our "VAR" for the blockchain.  Another words, this coin is not promoting a larger mining rat-race, its trying to place the onus on service.  With a lower mining reward and higher sactuary reward, more serious partners will invest in the idea and have a true stake in the outcome of biblepay, and be more committed to running a sanctuary and keeping up with its duties (rather than be in this for profit and to jump ship when the price goes up).

I think that we can then focus on adding more features and services to our masternode codebase, that make a niche for BiblePay.  Something along the lines of a built in bitcoin blockchain (in the masternodes only) that offers a payment gateway, or an exchange gateway for example, or a c# gateway (IE port Stratis into biblepay or biblepay to stratis).  The payment gateway might handle debits/credits for storefronts or credit cards while the instant exchange allows in-wallet bitcoin-biblepay exchanges, or possibly in wallet trading, etc.  We need something that propels biblepay to the top 50 and allows us to rise to the top 5.