Re: BiblePay | Masternodes | Sanctuaries | POBH - ASIC Resistant | 10% ORPHANS
Im confused by some previous responses though, because in order to PODC mine with BiblePay you need coins staked,
which means if you really want to mine to your full potential, you need to buy some BBP.
But how many miners are buying coins for staking? and how much are they buying? I dont know.
Opening up the team requirement could have a lot of benefits, but I could see miners being against this, more competition meaning less profit,
These new miners would still have to install BiblePay wallet to do CPID burn address, and then they would still have to buy BBP in order to do staking. Right?
Some of these miners could potentially convert and become BiblePay fans
Someone mentioned miners wont mine if we are illiquid, but I dont think we are *that* illiquid (yes we are illiquid since ccex is on vacation and buying is low, but thats generally affecting our large liquidations) however I feel the impact of small miners is low, in the sense that a person who desires to sell coins to pay for VMSs will basically drive up our volume (they would be forced to sell .01 below the market, and value buyers buy that up).
Its also true that even if we removed the team requirement, as the rules are now you still have to buy BBP to stake which helps our price, and as Togo said there are a certain % of converts who are going to stay with biblepay if we do this.
Im floating the idea as a lower bar of entry for the 50,000 boinc accounts out there who may want to be compensated for researching but have a strong affinity to the current team. People like the US Navy, Oracle, overclocking forums, etc. <- One downside to doing this is then we lose all sense of organization in our reports for our team (IE the team report becomes pretty worthless) and all statistics become worthless.
But yes, the fact that you have to buy bbp on an exchange to mine is still a large hurdle for non-crypto enthusiasts.