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91
Production Proposals / Re: Aug 2019 - Block reward breakdown adjustment
« Last post by Rob Andrews on August 25, 2019, 12:38:19 pm »
I want the GSC payments to be large enough to incentive people to go that route. Of course, as a Sanctuary-owner, I would be nice to have some direct rewards, but I think it's also important for our survival to grow long-term. GSC seems to be a very pleasant way to grow, since it's helping others in the process, and - in my view - has the potential to onboard a lot of new people. I don't really know enough of the variables involved to make a good decision at this point in time, to I'm leaning to abstain my vote for now...

I agree with you Jaap that GSC is our nicest method for new user rewards (other than heat mining).

The net effect of MIPs proposal has changed GSC from 30% to 25% of our daily rewards, so it was not a huge blow to it.  You can always post a counter argument here for MIP to tweak his final assessment before we vote (although we vote soon!).

One thing Sun has brought up recently is how disgruntled small fish are competing with the whales in the POG campaign.  So I think if you agree with this proposal % change as is, probably the biggest impact you can make is help design an idea that would limit how much whales can take from POG, and allow more to flow to the small fish.  But it has to be done in a secure way, where it cannot be hacked by outsiders who try to game the system.  Right now only true coin-age that is not invested in sancs that has a tithe attached can earn a reward.  So its a big improvement over many many schemes, but still the whales get the biggest rewards.  Finding a way to reward newbies would potentially increase onboarding, but we are all at a loss as to how to improve that.

92
Production Proposals / Re: FUBT Exchange
« Last post by Rob Andrews on August 25, 2019, 12:25:05 pm »
I'm having some reservations. I like the promotion-deal and the fact that it's non-English. Do they have a Chinese equivalent of Twitter or something where you can see interaction between them and the persons that use the platform?

Most of our volume is on southXchange. Coinexchange.io volume is very low, although it's ranked higher on coingecko than FUBT, so I don't know if adding another exchange will increase volume perse. But as I said, it's a non-English exchange, so it might help.

My reservations are mostly because it's hard for me to determine if they are actually as high-volume as they claim.


Thanks Jaap.

I'll add a few more points and see if they resonate with others as we near the time where we need to decide what we vote on.

I feel the promotional component of the deal "may" be valuable (I'm just a little more skeptical of PR now that we have been in business for 2+ years and our airdrop campaigns were pretty weak, and our efforts to bring people through ads were kind of weak, and dont get me wrong, Im very happy we did everything we did) just saying I feel the 1 bitcoin component of the deal is probably going to be lateral (if that).  IE maybe we see 100 new users over 90 days. 

The biggest pro I feel comes from Nick is his point about the 2 million registered Chinese traders.  Some of them are whales.  They buy/sell 10 million in BTC per day.  What I want to see is a few of those whales start interacting with BBP.  Impho, I think this is where the value is in the plan (penetrating the Asian crypto trading community).

I asked Nick candidly, do they think they will be dedicated and stay in this business.  Nick said, they are one of the few Chinese exchanges who conformed to the "94 regulation".  This is something where KYCs are required and they passed the strict audits of the Chinese Govt (they are allowed to operate in China and I believe also in Hong Kong).  He said they are in for the long run and indeed plan to improve the exchange and grow.  He wants to aim for being on par with Binance - although I guess any exchange will shoot for that.

EDIT:  I just emailed Nick to see if we can get insight on volume.
One thing that makes me nervous is the coingecko declining volume I see as of today compared to last week.


On the twitter:  I think if you click on CoinGecko, see if the twitter link comes up there.


We need to check this volume out in depth.

Also, anythink on Tokok anyone?


93
Production Proposals / Re: Exchange Listing on Tokok.com
« Last post by jaapgvk on August 25, 2019, 12:18:57 pm »
In the spirit of my reply  in the FUBT-thread, I think it's wise to first find out more about these exchanges and their presence in Asia before committing large sums of money. Maybe it's an idea to reach out to some Asian people in our community in order to get their opinion?
94
Production Proposals / Re: Aug 2019 - Block reward breakdown adjustment
« Last post by jaapgvk on August 25, 2019, 12:14:29 pm »
I want the GSC payments to be large enough to incentive people to go that route. Of course, as a Sanctuary-owner, I would be nice to have some direct rewards, but I think it's also important for our survival to grow long-term. GSC seems to be a very pleasant way to grow, since it's helping others in the process, and - in my view - has the potential to onboard a lot of new people. I don't really know enough of the variables involved to make a good decision at this point in time, to I'm leaning to abstain my vote for now...
95
Production Proposals / Re: FUBT Exchange
« Last post by jaapgvk on August 25, 2019, 11:52:05 am »
I'm having some reservations. I like the promotion-deal and the fact that it's non-English. Do they have a Chinese equivalent of Twitter or something where you can see interaction between them and the persons that use the platform?

Most of our volume is on southXchange. Coinexchange.io volume is very low, although it's ranked higher on coingecko than FUBT, so I don't know if adding another exchange will increase volume perse. But as I said, it's a non-English exchange, so it might help.

My reservations are mostly because it's hard for me to determine if they are actually as high-volume as they claim.
96
Production Proposals / Re: Aug 2019 - Block reward breakdown adjustment
« Last post by Rob Andrews on August 17, 2019, 07:04:27 pm »
For some reason I cannot edit posts (not even OP)

But yes, I do agree with your proposed reward distribution
20% - Charity and Governance
25% - GSC
35% - Sanctuary budget
20% - POBH/Security

I also agree that, if approved, it must be deployed whenever is best for the coin's interest, not immediately.

Ok, sounds good.

97
Production Proposals / Re: FUBT Exchange
« Last post by Rob Andrews on August 17, 2019, 06:49:08 pm »
I'm doing some testing to see if I feel warm and fuzzy about this proposal.

So far I've created an account with FUBT, and found US customers need to have a KYC to trade.
However, after asking Nick about this, he explained due to the "94" regulation(s) in China, KYC is required for every exchange going forward.

EDIT:

Here are the instructions that US users need to go through to trade on FUBT.
First its critical you choose USA as the Country when you join.
If your Account Settings say China, you can still send a KYC by populating your Drivers License # and then contacting Support to fix the Country.

Instructions to link KYC into your FUBT Account:
http://pool.biblepay.org/SAN/Integration/FUBTKYC.pdf





98
Production Proposals / August payroll (Apr) 2019
« Last post by Rob Andrews on August 17, 2019, 10:23:39 am »
ommits on Apr 29, 2019
1.4.2.3-Mandatory Upgrade for TestNet 

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1.4.2.2b-Leisure Upgrade for TestNet 

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Merge branch 'master' into develop 

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This was approx 120 hours - capping @ 1.5 MM this month due to budget constraints.

99
We have an offer to be listed from Paul at Tokok.com for 2btc.

Tokok does 442 MM per day - see CoinGecko:
https://www.coingecko.com/en/exchanges/tokok
CMC:
https://coinmarketcap.com/exchanges/tokok/

If listed, Rob would provide the initial funding by loaning BBP the 2btc.
BBP would remunerate Rob in 12 payments of .16 btc each.

This is a competing proposal to provide entrance into the Asian market.
Impho, I recommend the sancs to vote on either one or the other (but not both) as I don't think we can afford both proposals.

Please evaluate Tokok, as we want the most honest and liquid exchange in Asia for BBP.


_____________________________________________________________________________________________________

The gross deal (Updated August 29th 2019 after superblock 141450 paid):

** Note: I have inspected the New Exchange Fund as of 8-29-19 and found we have .0797 BTC and 1,350,000 in the treasury (see New Exchange Fund Report).  In light of this I will post a credit of .0797 to Rob as payment #2 and offer Tokok a 1,350,000 airdrop- to reconcile this exactly to the penny **


- Listing fee - 2 BTC (goes directly to Tokok)
- Airdrop campaign/PR - Tokok delivers 1.35MM to Tokok Traders





Payments to Tokok:
Will pay 2btc for listing fee
Will pay 1,350,000 For Airdrop




Payments from Superblocks back to Rob for this deal:

_________________________________________________________________________________________________________________

Payment #1 -  3,647,790.00 (Paid in superblock  141450) - RECEIVED BY ROB - .211 BTC PAID
Payment #2 - .0797 BTC - RECEIVED BY ROB
Payment #3 - Adding Proposal for 1,000,000 bbp for September 2019  (Will edit after it wins God willing)


100
** TestNet Update **

Just to give everyone an update as to what is going on:
Of course our TestNet testing is vital and is not being deprioritized by any means.

We still want to shoot for roughly an end of October timeline to at least have our next codebase ready for deployment (in case something accelerates the need for the release, as its important to be safe and on the ball).

The reason for the recent lack of posts is I've been in 'programming hermit' mode working on some of the promised features for EOQ 3.  For example BIPFS (BiblePay IPFS).

I will be posting a wiki very soon explaining all of this.

The schedule is on-track for an on-time release, so I feel confident we can begin testing chainlocks very soon and get back to more testnet as well.

Some of the code in BIPFS requires some code changes in the core in testnet btw (leisure changes).

Note that Dash recently had to tweak .14 in Prod due to some hackers spamming prod transactions.  We will pull these things in ASAP and ensure we are up to date.

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