Quote from: 616westwarmoth on January 19, 2018, 10:47:56 PM

Quote from: adrianbits on January 19, 2018, 08:36:46 PM

In my analysis of Biblepay over the course of many months, Biblepay is a scamcoin that operates under the cover of the Bible and helping orphans. I have tried repeatedly to warn the community but have been deleted continually on the forum. No criticism is allowed on their private thread

The devs have no such power over this thread fortunately. I am again warning the general community to do due diligence before investing any time or money into this project

There is a varied opinion on that matter. Every individual should do their own research and make their own conclusions. I can say that this user made the same claims over and over with little more than conspiracy theory logic to back their claims. But for the record, yes, their posts do routinely get deleted from the moderated forum.

The coin has produced receipts for the orphan premiums paid, so in that regard the coin has been vindicated. It's unclear how much coin any one user owns (much like any other coin), but there was not a pre-mine, nor a developer reward in the classical sense (although the Dev does get compensated from the foundation fund by vote of the Masternodes).

This is a coin that can be mined, it is based on DASH and uses Masternodes. It is verifiable in its claims of charity.

Biblescam was instamined plain and simple. The devs and inner circle mined the coin several hours before it was announced. Following that announcement it was difficult for regular people to mine so the team had a headstart of a couple multiple million coins within a few days.

In december the coin's difficulty was reset at least 5 times allowing the establish CPU horsepower to have a crack at the coin again while all the miners on the pool couldnt get a stable client. This is not a conspiracy but verifiable by both the blockchain and the forum posts of that time.

Thirdly, the dev+team have used thier massive stockpile of coins to make masternodes for themselves. they hold majority votes over the budget and , being the good pigs they are, take advantage by voting salaries for themselves.

One has to ask why this coin has such a MASSIVE amount of coins released. 20,000 every 7 minutes. It is because the only way to profit off a shitcoin is to make it up on volume. The devs/team have acquired multiple millions of coins and then setup a majority on the masternodes. So they now control the budget and can give themselves 'projects' and 'salaries'.

All in all it is my analysis that this coin will remain in shitcoin pricing. Why because it gives out so much supply and the masternodes are incentived to sell them. So you will always many more sellers on this coin than buyers.

A big test of this theory will come this weekend when the coin is on sale again. All these masternodes will race to sell off their coins and the price will dive down 50%. It will remain there for a few weeks as new suckers race in to buy the masternodes. But at that point it will be over saturated and not be profitable for anyone

Except for the pigs of the coin who are making $100k off the suckers who buy into this 'charity coin'.

Now, as for the orphans. This appears legitimate. It has to be because of course the pigs of this project would dare not make an obvious scam they cant hide. They have to remain hidden behind the anonymity of their coins and mining and exchanges to make any kind of profit.

As for the 'bible' part of 'biblepay'. There is ZERO evangelical purpose to this project other than making money for people. They thing because it is using bible verses to hash that it makes it 'proclaiming the gospel'. Wake me up when anyone is 'saved' by the intangible and invisible activity of computers mining bible verses