Bible Pay

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  • jmmc
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Proposal - listing BBP on GIN MN platform
« on: August 21, 2018, 05:57:45 am »
GIN is a few-clicks platform for hosting masternodes already supporting tens of of various MN projects.

Listing fee is 300 GIN (300 GIN = 0.2 BTC = 1.9M BBP no proposal (depending on price, rest will be sent back to BBP foundation).

Having BBP on this platform would take BBP MN on another level and reach much greater MN investors audience. It's also very handy platform for MN owners who don't want to bother with things like VPS configuration and node maintenance.

Feel free to ask further questions if you have any.

Links:
https://gincoin.io/
https://p.gincoin.io
« Last Edit: August 28, 2018, 08:24:16 am by jmmc »


  • 616westwarmoth
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Re: Proposal - listing BBP on GIN MN platform
« Reply #1 on: August 21, 2018, 10:57:37 am »
It appears the users are changed 50c per day for hosting, if I'm reading this correctly, this is a terrible deal for them and I'd recommend against it.
« Last Edit: August 21, 2018, 11:01:47 am by 616westwarmoth »


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #2 on: August 21, 2018, 12:12:29 pm »
It appears the users are changed 50c per day for hosting, if I'm reading this correctly, this is a terrible deal for them and I'd recommend against it.
It was always 50c per day for hosting (and support - upgrades, monitoring, etc.). It's fair price imho and over 4,000 hosted masternodes there speak quite aloud for it.
« Last Edit: August 21, 2018, 12:22:31 pm by jmmc »


  • 616westwarmoth
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Re: Proposal - listing BBP on GIN MN platform
« Reply #3 on: August 21, 2018, 12:18:33 pm »
Ok, the cost of $14/month for users seems pretty high to me given you can run the Sanctuary on a $5 Vultr VPS (or really on much cheaper VPS too).   it worth noting that nearly half of their hosted MN are Gin coin nodes, but its an interesting idea nonetheless!


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #4 on: August 21, 2018, 12:30:02 pm »
Ok, the cost of $14/month for users seems pretty high to me given you can run the Sanctuary on a $5 Vultr VPS (or really on much cheaper VPS too).   it worth noting that nearly half of their hosted MN are Gin coin nodes, but its an interesting idea nonetheless!
Yeah, these are quite common arguments. Bottom line is that serious MN holders don't care that much for those additional 10$ they spent on GIN platform per month per node because they save lot of time that is worth much more than that and they have all their supported MNs under one roof (seeing immediate status, reports, etc.) and knowing that someone takes care about their MN nodes. And that's quite priceless. It's like taking a taxi vs driving (and maintaining) your own car. This taxi is actually pretty cheap.
« Last Edit: August 22, 2018, 03:03:39 am by jmmc »


  • jaapgvk
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Re: Proposal - listing BBP on GIN MN platform
« Reply #5 on: August 22, 2018, 10:45:32 am »
Yeah, these are quite common arguments. Bottom line is that serious MN holders don't care that much for those additional 10$ they spent on GIN platform per month per node because they save lot of time that is worth much more than that and they have all their supported MNs under one roof (seeing immediate status, reports, etc.) and knowing that someone takes care about their MN nodes. And that's quite priceless. It's like taking a taxi vs driving (and maintaining) your own car. This taxi is actually pretty cheap.

So, if a masternode crashes of forks or whatever, they will notice this and fix it for their users? Because guaranteed uptime would indeed be a pretty sweet deal for some users I think.


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #6 on: August 22, 2018, 01:01:45 pm »
So, if a masternode crashes of forks or whatever, they will notice this and fix it for their users? Because guaranteed uptime would indeed be a pretty sweet deal for some users I think.
Yes, exactly, they do all the server work. You only need to take care of the controller wallet actions when needed.


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #7 on: August 22, 2018, 01:11:43 pm »
BTW I created proposal in the wallet but it's not shown in the proposal list. How many confirmations are needed before it's there?
« Last Edit: August 22, 2018, 01:15:36 pm by jmmc »


  • togoshigekata
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Re: Proposal - listing BBP on GIN MN platform
« Reply #8 on: August 22, 2018, 10:42:44 pm »
What other services are out there that are competing in the same space as GIN? How does GIN compare?

I think it would be cheap to buy enough coins for a low cost masternode and test out the GIN platform

=

https://gincoin.io/#about

- "One-click 3rd party blockchain masternode setup"
- "Masternode setup & administration UI"

In Development:
- "Shared masternodes UI"

=

White Paper:
https://gincoin.io/whitepaper.pdf

"GINcoin aims to solve two big issues that are currently
holding Masternode coins back and impeding their
rightful ascent:

1. Deploying and running a Masternode requires
significant technology know-how:
a. Deep understanding of the blockchain
b. Launching & maintaining a server
c. Setting up of masternode software

2. Setting up a Masternode requires considerable financial efforts (and, as detailed below, trust)
The two problems force investors to rely on Shared Masternode groups and schemes, usually lead by a
developer willing to do the work in exchange for a share of the Masternode (or its generated rewards).
This forces a trustless-system to work in a trust-dependent way, and not few are the cases where
ill-intentioned individuals scam investors and keep the collateral for themselves."


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #9 on: August 24, 2018, 01:52:56 am »
I created the proposal, paid 2500, txn is confirmed but unfortunately it doesn't show in proposal list so it seems there might be a bug and proposal is somehow broken  (txn: 20f0dbcdef42f50eaac0ef3b878865d7fffd5828024e3da88dbb7f16b8a802c7 ). So if anyone of you can create valid proposal, feel free to do so.


  • jaapgvk
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Re: Proposal - listing BBP on GIN MN platform
« Reply #10 on: August 24, 2018, 11:23:34 am »
I created the proposal, paid 2500, txn is confirmed but unfortunately it doesn't show in proposal list so it seems there might be a bug and proposal is somehow broken  (txn: 20f0dbcdef42f50eaac0ef3b878865d7fffd5828024e3da88dbb7f16b8a802c7 ). So if anyone of you can create valid proposal, feel free to do so.

I do not see the proposal in my wallet. I think it's best if you contact Rob at rob@biblepay.org.


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #11 on: August 26, 2018, 02:45:53 pm »
Thanks to Rob, I was able to create the proposal again, successfully this time. All sanctuary owners are free to vote.


  • 616westwarmoth
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Re: Proposal - listing BBP on GIN MN platform
« Reply #12 on: August 26, 2018, 04:47:42 pm »
Glad to hear the issue was fixed!

What if we started a similar service but exclusively for BBP?  What would that cost us?  The issue would be coding a front end (as a person who manually runs a pooled Sanctuary, I can tell you that is the one thing that takes much time).  But it would give us 1) room to expand to other masternode coins hosted (since you can run four to seven normal MN coins on one $5 server...or less expensive options are out there too).

Coders, how hard would this be?   Because I can say with 100% certainty, that for $14/month/sanctuary I'd be all for running this system for us, in fact would be all for running it for less cost for users!  Maintaining multiple sanctuaries is pretty trivial after the first one, much of the updates can be semi automated (command driven).  Being able to do this for our own coin would give us room to grow for other alt-coins and be something that would be outside the core mission of the coin but complementary like BBPPool is. 

Thoughts?


  • jmmc
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Re: Proposal - listing BBP on GIN MN platform
« Reply #13 on: August 27, 2018, 04:56:45 am »
GIN have of experienced developers just for this service maintenance, support and future development and platform is  already working very well. It supports about 70 MN projects already and growing. Also bringing shared masternodes feature soon. It would be very difficult to compete, definitely for 14 USD/month. Maybe for half price if you can bring low-cost usable platform. Moreover there are some other services similar to GIN (not as good) so it's quite competitive environment already meaning that it's harder to succeed. In summary this is imho not a good way to go for BBP. Listing on GIN platform makes much more sense to me and will help BBP in multiple directions. 
« Last Edit: August 27, 2018, 12:16:17 pm by jmmc »


  • sunk818
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Re: Proposal - listing BBP on GIN MN platform
« Reply #14 on: August 27, 2018, 10:15:47 am »
I can rent a reliable VPS for $1/mo. See lowendbox or lowendtalk. DIY is certainly less expensive route, but maybe for financial types that don't want to deal with the technical aspects (just want payout to wallet), its not a bad idea. If we do something in-house, then we could charge a fee but receive it as BBP and sent it all to donation for charities. This will be a marketing advantage because revenue is not for profit and goes to charity.   Whatever direction is taken, this would open a new marketing angle to churches where they set up a recurring donation vehicle. You could support compassion ongoing with the payouts from the masternode (sanctuary).