Post
Topic
Board Announcements (Altcoins)
Re: BiblePay - New Coin Launch - Official Thread
by
seeksilence
on 18/10/2017, 13:43:44 UTC
It is better the price keep stable now for the early development. If the price goes up quickly, it will attract more pure miners just pursuing profit which is not the purpose of dev. I put some hashes on this coin after reading almost all the posts here. I thought this coin is promising and have good purpose to do charity by supporting orphan. Though I still have some difficulty to understand the mining logic including pool mining behind the coin.

The dev mixes the role of dev and pool operator and wants the miners do a lot of things like writing letters to orphan, voting the letter, donating to orphan fund instead of just mining. But some tasks should be performed by different roles. A miner cannot do everything the dev demands. We saw the network hashes up and down a lot. I guess some miners even do not know the orphan fund, just jumping in and leaving.

I put some hashes for solo mining testing and already found some blocks without the 6% letter writing fee. The rewards should be similar for solo and pool mining. So to attract the big miners to the pool is actually good to the pool if the server is not overloaded.