1 @ 0.04
Rejected. I've decided that masternode coins can
sometimes be acceptable, but Biblepay seems highly deceptive. For example, you say "10% of the emission goes to sponsoring Orphans, with provable contributions," but:
- 10% of the monthly emission should be somewhere around 6 million coins, but the monthly trade volume tends to be only
slightly higher than this, which is unbelievable if you're actually selling the coins in order to make donations.
- This 10% goes to a hardcoded
non-multisig address with no explanation.
- "THE COIN HAS RPC COMMANDS THAT PROVE 100% OF CONTRIBUTIONS ARE SPENT THE WAY INTENDED" is completely false. The RPC command just totals up all of the payments to the hardcoded address. What happens after the coins go to that address is unexplained.
- There is no non-profit registration, receipts for donations, any info about the people who are supposedly facilitating donations, etc.
Biblepay looks like a generic coin with hardcoded dev subsidy plus some probably-totally-fabricated marketing about orphans.
I saw him replying. Are you going to address his points togoshigekata?
1) is with no doubt false...not sure where he took his data but I saw way more than 6 mil bbp/month sold in the last 2 months on ccex alone...
2) He seems to be referring to the old way tithe was done which is no longer the case since BBP switched to masternodes and dash-like governance....
3) That is true. The RPC commands don't give anything else but the total payments to one address so it prob shouldn't be advertised as that as it is misleading
4) which leads to this point which is untrue. BBP is not registered as a non-profit but there are receipts from Compassion + you can call them to make sure everything matches..not sure if the 2 other charities could also give us "official" documents on what BBP does for them...
He seems to have very misleading information on the current state of BBP and I'm not really sure when he got all of that. All his points but 3) could be addressed really quickly and it seems that there should be massing focus/effort on proving 4) in an easily accessible and reliable way for newcomers...
Also forgot to add that the 10% should probably not be advertised or worded differently as it is "At least" 10% but the actual % has been way more than that.
I'm going to PM him now. Hes wrong about our monthly volume, he obviously didnt track it. I believe c-cex has trade history available in the API, and the days that I sold the compassion coins caused Double the volume (not slightly more than) because every coin sold had a buyer.
Hes also wrong about the deceptive nature. Our RPC command only has the total, but the details are all stored in the sql database, and its pretty easy to reconcile since 95% of our children are 38$ per month (IE each record reverse engineers correctly).
We also had Ginger and Mike Lins statement this month that proves from inception to date all the money went to compassion (which is over 90% of the money we spent on charity). She also wrote a blurb about our credit balance there.