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Messages - sunk818

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1
Archived Proposals / Re: freefaucet.io top-up Feb-Mar 2020 250k
« on: July 07, 2020, 12:07:16 PM »
Added 80k more to SX faucet. They were giving out in increments of 10 BBP, so I asked them to reduce it to 3 BBP so it doesn't burn out so fast.

2
Production Proposals / Re: Should Sanctuaries fund our Orphans?
« on: July 06, 2020, 10:17:59 PM »
How did you arrive at 50 sanctuaries being the support level? You mentioned price, but I tend to think prices fluctuates quite a bit. Would 50 sanctuaries cover all the children currently supported by BiblePay? Based on past history, what percentage do you think would support charity via BBP vs a non-BBP method? The thought of limiting how much a charity could withdraw in a 30 day window might encourage consistent selling. I remember you prepaid for several months and it was all sold in the same day causing a flash crash down to 0.2 SAT.

3
Production Proposals / Re: Should Sanctuaries fund our Orphans?
« on: July 02, 2020, 05:47:11 PM »
Its a sound idea. How much BBP do you project 40 to 75 sanctuaries would receive? And would it be enough to meet the charity needs of CameroonOne (C1) children? How much a month would sanctuaries need to give? Would all of this be sold as BBP for BTC? What about the extra that comes via XMR?

4
Archived Proposals / Re: freefaucet.io top-up Feb-Mar 2020 250k
« on: June 24, 2020, 01:45:43 PM »
Asking 250k BBP for faucet and bounty payment wallet. Currently 0.


I put 80k into SX for faucet. freefaucet.io is not responsive lately, so I'm sending them any more funds until I can communicate with them and get a response.

5
Production Proposals / Re: Vote on Future Currency Name II
« on: June 24, 2020, 12:19:48 AM »
DAC is probably easier to rank on Google as there's only 129M as opposed to DEC 2.1B results.


there already a company called xDAC though. https://xdac.co/


I was looking at caritas (latin for charity) but I see the catholic church already owns the domain.

6
Production Proposals / Re: Support Brazil during covid-19
« on: June 19, 2020, 02:23:43 PM »
First proposal had 538358.01
If there's room in the budget, would like to ask for more BBP to support more people in Brazil with basic baskets, gift cards, etc. Covid-19 is spreading at an incredible pace in Brazil and many more people are in need than before. Brazil is #2 (978k infection) behind USA (2.2M) now in infections.


Requesting 461641.99 BBP to get us up to 1M BBP if both proposals are approved.


May the Grace of God shine upon the Brazillian people and their governmental leaders.

7
I added two new reports to the menu:
- Sponsored Orphan Report (My Orphans)
- Sponsored Orphan Payments
(These are personal reports)

I fixed the ability for the Orphan Collage to pick up SAI.

The Orphan collage already shows who sponsors the orphan publically above each orphans picture.

- Pagination:  Now the weblists support pagination.

- SX is evaluating a shorter deposit time now.


Thank you for Rob for being so responsive! I had forgotten who I had sponsored.

8
Thats a sweet chart, btw.

On a side note, what we are really looking for in DWS is when some of the original large rewards get paid out and that would end up *raising* the ROI back to where it was (before that particular burn took place).

So in a perfect world, say that in August for example our ROI drops to 27% for 365 days, but we start seeing 1 mil being freed up again roughly per day, that would keep the ROI in equilibrium and allow us to be attractive for a long time span.


You have a better handle on finance technology, but that's a good point to forecast what ROI will be in the future.

9
Also, can we see who we sponsored and the tx surround the orphans we support?

10
I sponsored a SAI child just now. I have one for CameroonONE, Kairos, and now SAI.


So, the first sponsorship is the full amount of BBP, then it is the discounted rate for subsequent months?

11
It's been 4 days now since I ran the command "exec associate wcg_username wcg_verification_code" and still I'm not on the leaderboard

And when I run "exec rac", it says "Error": "Sorry, you do not have a CPK.

What should I do?
My CPK association is completed I think (See the picture below).



Try adding true to end of the command and will force the associate action again.

12

At the rate that coins are being burned, I think we will reach parity with fractional reserve return very shortly. I don't know if Rob is still offering the 10% bonus, but even without... the ROI on either will reach an equilibrium shortly.


For me, if I am sponsoring orphan with BBP, I need it liquid so fractional sanctuary is a better product for me. I can use it pay for orphans on a schedule. I can also use it to stake for PoDC if I need.


If you prefer to set it and forget it, dynamic whale staking (DWS) is very attractive as well and will have a fixed ROI after your burn period 99.9% of the time


Sorry for the messy chart below, but you can see day to day what the percentage ROI is for that day based on how long you burn the BBP.


13

Good evening.
I did not get that , Is this the same as moving funds to foundation wallet and receive the ROI?
Or you have to move back funds to your personal wallet and execute the command? is there any difference or is it the same thing?


Thank you.


Rob will likely answer too, but DWS (Dynamic Whale Stake) burns the funds for a number of days. 365 days gives the highest return as opposed to a 7 day burn. The funds are unable for that time period. After the burn period is over, you receive the amount burned plus roi promised to you.


I can send you charts if you want. DM me.

14
Thanks Rob for your quick reply. So, if someone sponsors a child, the BBP required every month will be the fiat equivalent for a certain USD$? I imagine the BBP someone pays per month will fluctuate? Would it be helpful to list the fiat equivalent as well?

15

Been reading a little bit about donor advised funds (DAF). I wonder if there's a way for BiblePay to leverage this type of fund, and invite whales to contribute to it. This could be a way to sponsor many children long-term, anyone can donate BiblePay, Bitcoin, other crypto, cash, etc into this fund. And as orphan sponsorships need to be paid, it can be paid out of the fund.


I think part of why POOM crashed the price was that charities sold whatever BBP was prepaid immediately. So, if someone prepaid for 3 months, selling all of it crashed the price. A DAF, in theory, could hold various assets and manage the burn rate. A sanctuary vote could help direct which assets should be sold to donate to the various charities.


I'm not sure how the mechanics of holding various assets in a fund works, liquidation, accounting, etc...

https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-bitcoin-to-charity.html
https://www.nytimes.com/2017/11/06/business/bitcoin-charity-donations.html

https://www.schwabcharitable.org/public/charitable/nn/noncash_assets/donate-your-investments.html

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