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BiblePay Current Discussion / Re: BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)
« on: December 25, 2024, 11:39:00 AM »
On the side chain and document storage and decentralized database:
We still have a conduit to store all of our BBP documents (IE prophecy videos, images of Foundation activity such as childrens letters and wells, images of NFTs, and all of the user stored documents) on STORJ, which works. We have a working sanctuary feature, where we can charge a rental fee for documents that are stored on the BBP chain as metadata (which points to the Storj bytes that store the image or doc), can be billed to the user monthly automatically. All that works.
NFTs are decentralized now. Yes, the marketplace needs re-released on unchained, but it works again (working on that release currently) which allows you to edit your Native BBP NFTs and mark them as marketable, etc.
A story about CockroachDB and PerconaDB.
CockroachDB was "close". We almost used cockroachdb to be our decentralized database to store BBP sidechain data. However in the end, the problem with cockroachdb was it could be made to be fragile by nefarious Temples. I went through a set of steps that could take it down and put it in a corrupt state by manipulating my timestamps and once a new temple comes on and syncs, if there is a minority of temples (IE their algorithm does not work like bitcoin supermajority rules), the whole cluster comes down. That in itself is not a problem, however rebuilding the cluster is just too much work for an amateur (the user would need to be at the shell for hours to get the node back up). I finally gave up on cockroachdb (and percona previously). I decided we have to have our own decentralized db that is fault tolerant for even dummies (IE it just self heals under all conditions). So we do have BBPDB 1.0 now and it is running on one Sanc, and now we need this whole release cycle so that unchained honors BBPDB, and all of our data (think Orphan expenses, fundraising revenue, sidechain metadata, User records, everything that lives in Cockroach) is being migrated to BBPDB. This BBPDB is 100% decentralized! Note that I will not even be required after this is fully deployed in 2025! So that is exciting for our future as well.
Regarding social media, I feel like social.biblepay.org was excellent and we are actually missing something.
Some of the features I would like BBP to thrive on is:
- An enhanced user friendly prayer room that is "fun" to use. I think our current attempts at this were "drab".
- A social media system that is chain based.
- A Prophecy room where we can take modern day prophets, like Amanda Grace, Julie Green, Elijah Streams prophets, etc, and make rooms for them. We can sync their open source content to our prophet rooms. We can add new prophecies in real time.
- A "salvation Dashboard". This allows you to keep track of salvations of your freinds, that you are working on. Think current Status. History of entries.
A cryptocurrency index that is an investment vehicle for BBP that is "your keys your money".
This is novel, because all of our old attempts at this were not really decentralized.
We need to have volunteer market makers, one for each small upcoming and established crypto (my list is : XRP, XLM, DOGE, BBP, BTC) as an example, and these market makers will be paid to "make a market" to run an AMM that will auto exchange XLM-BTC for example, but in a decentralized way. What is the purpose. If we had 4 market makers fro the above example (BBP not included), here is how this works:
New User A comes in and wants to buy $500 of the BBP CryptoIndex. (BBPCI).
When the trade is placed, 4 of the market makers execute $100 each of the above tickers and each of those result in the user receiving $100 of the native currency inside the *home wallet* private key. Lets say you have a private key called "CPK". The home wallet will derive private keys for these 5 currencies without the key material ever leaving your machine. We can do that with a BBP extension.
So what this means in effect, a church comes in and buys $1000 of the index, and in their home wallet, they now 5 cryptos equally weighted (with $200 being in BBP) held in their own *private key* that never left the wallet. This is totally decentralized. I really feel we can make this market making happen by offering sanctuaries a reward to be a market maker. It can look something like this:
Lets say you run sanctuary #1 and want to be an XRP market maker. The requirement is you deposit $1000 of XRP in your sanctuary private key and $1000 of BBP in your sanctuary private key. Whenever a customer buys the index, you receive a market making fee of say 1% (or whatever the free market dictates to make this happen). If they Bought BBP, you now have $100 more of BBP and $100 less of XRP, but you have $10 more of BBP as the reward for market making. Something like that. The algorithm in the BBP wallet would automatically AMM the trade so you dont have to actually do anything except replenish your balances when they get low. Say XRP draws down to $100, then you need to sell BBP on the exchange and buy XRP on the exhchage to get these back to $1000 so our index stays in business.
From the user standpoint they get a decentralized index that offers crypto exposure into the future, legally without us needing to be a hedge fund. So its useful to churches and our users. Who have Fiat to protect, they can invest in the BBP index. And its useful for people who want one click crypto exposure and we do the rest. They just come in once every 90 days and buy $5k more. And their balance is safe because its "their key their money", its stored in their home wallet and the key never leaves the machine.
We still have a conduit to store all of our BBP documents (IE prophecy videos, images of Foundation activity such as childrens letters and wells, images of NFTs, and all of the user stored documents) on STORJ, which works. We have a working sanctuary feature, where we can charge a rental fee for documents that are stored on the BBP chain as metadata (which points to the Storj bytes that store the image or doc), can be billed to the user monthly automatically. All that works.
NFTs are decentralized now. Yes, the marketplace needs re-released on unchained, but it works again (working on that release currently) which allows you to edit your Native BBP NFTs and mark them as marketable, etc.
A story about CockroachDB and PerconaDB.
CockroachDB was "close". We almost used cockroachdb to be our decentralized database to store BBP sidechain data. However in the end, the problem with cockroachdb was it could be made to be fragile by nefarious Temples. I went through a set of steps that could take it down and put it in a corrupt state by manipulating my timestamps and once a new temple comes on and syncs, if there is a minority of temples (IE their algorithm does not work like bitcoin supermajority rules), the whole cluster comes down. That in itself is not a problem, however rebuilding the cluster is just too much work for an amateur (the user would need to be at the shell for hours to get the node back up). I finally gave up on cockroachdb (and percona previously). I decided we have to have our own decentralized db that is fault tolerant for even dummies (IE it just self heals under all conditions). So we do have BBPDB 1.0 now and it is running on one Sanc, and now we need this whole release cycle so that unchained honors BBPDB, and all of our data (think Orphan expenses, fundraising revenue, sidechain metadata, User records, everything that lives in Cockroach) is being migrated to BBPDB. This BBPDB is 100% decentralized! Note that I will not even be required after this is fully deployed in 2025! So that is exciting for our future as well.
Regarding social media, I feel like social.biblepay.org was excellent and we are actually missing something.
Some of the features I would like BBP to thrive on is:
- An enhanced user friendly prayer room that is "fun" to use. I think our current attempts at this were "drab".
- A social media system that is chain based.
- A Prophecy room where we can take modern day prophets, like Amanda Grace, Julie Green, Elijah Streams prophets, etc, and make rooms for them. We can sync their open source content to our prophet rooms. We can add new prophecies in real time.
- A "salvation Dashboard". This allows you to keep track of salvations of your freinds, that you are working on. Think current Status. History of entries.
A cryptocurrency index that is an investment vehicle for BBP that is "your keys your money".
This is novel, because all of our old attempts at this were not really decentralized.
We need to have volunteer market makers, one for each small upcoming and established crypto (my list is : XRP, XLM, DOGE, BBP, BTC) as an example, and these market makers will be paid to "make a market" to run an AMM that will auto exchange XLM-BTC for example, but in a decentralized way. What is the purpose. If we had 4 market makers fro the above example (BBP not included), here is how this works:
New User A comes in and wants to buy $500 of the BBP CryptoIndex. (BBPCI).
When the trade is placed, 4 of the market makers execute $100 each of the above tickers and each of those result in the user receiving $100 of the native currency inside the *home wallet* private key. Lets say you have a private key called "CPK". The home wallet will derive private keys for these 5 currencies without the key material ever leaving your machine. We can do that with a BBP extension.
So what this means in effect, a church comes in and buys $1000 of the index, and in their home wallet, they now 5 cryptos equally weighted (with $200 being in BBP) held in their own *private key* that never left the wallet. This is totally decentralized. I really feel we can make this market making happen by offering sanctuaries a reward to be a market maker. It can look something like this:
Lets say you run sanctuary #1 and want to be an XRP market maker. The requirement is you deposit $1000 of XRP in your sanctuary private key and $1000 of BBP in your sanctuary private key. Whenever a customer buys the index, you receive a market making fee of say 1% (or whatever the free market dictates to make this happen). If they Bought BBP, you now have $100 more of BBP and $100 less of XRP, but you have $10 more of BBP as the reward for market making. Something like that. The algorithm in the BBP wallet would automatically AMM the trade so you dont have to actually do anything except replenish your balances when they get low. Say XRP draws down to $100, then you need to sell BBP on the exchange and buy XRP on the exhchage to get these back to $1000 so our index stays in business.
From the user standpoint they get a decentralized index that offers crypto exposure into the future, legally without us needing to be a hedge fund. So its useful to churches and our users. Who have Fiat to protect, they can invest in the BBP index. And its useful for people who want one click crypto exposure and we do the rest. They just come in once every 90 days and buy $5k more. And their balance is safe because its "their key their money", its stored in their home wallet and the key never leaves the machine.