BiblePay | 10% to Orphan-Charity | RANDOMX MINING | Sanctuaries (Masternodes)

Wanted share an interesting article with donor advised funds, crypto, and utilitization of smart contracts. These are all things related to BiblePay. Just imaging a decentralized way to track donations of all types to charities. While the article mentions crypto specifically, I could see stablecoins like USDC involved in giving to specific addresses that are then used for specific purposes. You can see all this on the blockchain and you get more transparency than charities that often don't disclose how their funds were used until an annual report. I also wrote a post in 2019 about the viability of using blockchain for charitable giving: https://whitewalr.us/2019/1682.html


https://www.philanthropy.com/article/crypto-meet-donor-advised-funds-a-new-way-of-giving

https://docdro.id/5DYLtsa
3400 BBP

Wanted share an interesting article with donor advised funds, crypto, and utilitization of smart contracts. These are all things related to BiblePay. Just imaging a decentralized way to track donations of all types to charities. While the article mentions crypto specifically, I could see stablecoins like USDC involved in giving to specific addresses that are then used for specific purposes. You can see all this on the blockchain and you get more transparency than charities that often don't disclose how their funds were used until an annual report. I also wrote a post in 2019 about the viability of using blockchain for charitable giving: https://whitewalr.us/2019/1682.html


https://www.philanthropy.com/article/crypto-meet-donor-advised-funds-a-new-way-of-giving
PDF:https://smallpdf.com/result#r=d8029da8d71e967e283ed5d773d8d8c3&t=share-document

I tried to click into the PDF article and it already expired and the philanthropy site wanted me to sign up in order to read it so I havent done that yet, but then I read your article on white walrus and I like it. 

I agree that the blockchain can work miracles for tracking philanthropic expenses and not only that but should theoretically pick up a lot of donations based on this new economy thats coming (IE more and more people holding serious amounts of crypto in contrast to normal bank accounts).

I thought of addresses for orphans; thats one nice idea.  We also have this idea coming up soon:

Orphan NFTs:
http://foundation.biblepay.org/NFTOrphans
(Please dont sponsor these children yet in prod this page is for our next release).

But yeah, I think one piece that is missing is a standard way of trusting the charity that we integrate with.
People seem to trust cameroon-one, which is great, and so far our technical requirement is the orphanage provides a public URL for the bio, and if we point to an orphan from a sanctuary, the sanctuary public key is on the bio, etc.

This is something that would really be nice to standardize.  I approached Compassion.com with this idea a long time ago (all we want to do is require compassion to place either an organization ID on a bio, or a public key on a bio).  (They did not agree to talk to us about it - yet, after a few attempts).




7800 BBP

EDIT:

It turns out we cannot create a dual reward between wBBP + UTXO Stake.
This is because Dynaxius explained, once the wBBP is wrapped and staked into the liquidity pool (LP), amounts are shifted around and spent regularly to provide liquidity for withdrawals.  So the wBBP will not be able to be staked in a UTXO as it will be changing.

People seem to trust cameroon-one, which is great, and so far our technical requirement is the orphanage provides a public URL for the bio, and if we point to an orphan from a sanctuary, the sanctuary public key is on the bio, etc.

This is something that would really be nice to standardize.  I approached Compassion.com with this idea a long time ago (all we want to do is require compassion to place either an organization ID on a bio, or a public key on a bio).  (They did not agree to talk to us about it - yet, after a few attempts).

I made another link to a different site for the PDF. Feel free to try again if you wish.


I appreciate Cameroon-One willing to take the extra steps to integrate with BiblePay.


Upon sponsorship, couldn't we associated the Compassion GID with a public key? https://www.compassion.com/sponsor_a_child/child-biography.htm?gid=08037005&source= IDK, just thinking out loud. I feel that having Compassion.com add that bit to their web site is a big block and unlikely to happen even if long-term, more orphans can be sponsored.


I've been wanting to dabble in DeFi farming, pools, etc so this wBBP will be a good introduction for me. I don't understand the mechanics or economics myself, but I'm hopeful a form of donor-advised fund that can give regularly is possible through a liquidity pool without lowering the price of BBP.




3400 BBP

I made another link to a different site for the PDF. Feel free to try again if you wish.


I appreciate Cameroon-One willing to take the extra steps to integrate with BiblePay.


Upon sponsorship, couldn't we associated the Compassion GID with a public key? https://www.compassion.com/sponsor_a_child/child-biography.htm?gid=08037005&source= IDK, just thinking out loud. I feel that having Compassion.com add that bit to their web site is a big block and unlikely to happen even if long-term, more orphans can be sponsored.


I've been wanting to dabble in DeFi farming, pools, etc so this wBBP will be a good introduction for me. I don't understand the mechanics or economics myself, but I'm hopeful a form of donor-advised fund that can give regularly is possible through a liquidity pool without lowering the price of BBP.




3400 BBP

I will click the link in a few minutes thank you!  EDIT: It gave me the same error, if it is good maybe you can pull it in to white walrus etc.  On a side note Im working on a public file uploader for our future social media site but it only allows videos currently (no pdfs yet):  https://unchained.biblepay.org/UnchainedUpload

So on compassion, we actually did use their GID for integration (because thats all we could get ahold of), but it falls short for security.  Basically the link is good to prove that we 'discovered' the child, most likely because we sponsored the child.  So another words it gives investors 'a low level of peace and mind' that BiblePay is indeed sponsoring that orphan for the amount we spend.  But, it doesn't account for variables like 'in good standing, balance due, no longer sponsoring, found by link-harvesting' etc.  (For example if you went link harvesting you can find more compassion children and just use their GIDs as 'sponsored' and that would lower our integrity to zero etc).  So what we need is the organization to agree to having at least one field on their publically displayed bio (hosted by their web site) for example, Organization ID: BiblePay.  The deal is if that field is present it means this child is *currently* sponsored by biblepay as an org. 
Thats the basic level requirement that I believe we can ask for (for a full trustworthy integration).  An even higher level which I would ultimately like to get to is the public key of the orphan on the bio (this would be good for sancs) etc.

On Defi, the main key to understanding it is that the number of "Field" tokens is dramatically inflating which provides the 580% ROI they posted.  The 'win-game' in defi is apparently the idea that a very low priced asset (like field for .014 cents) will attract a lot of attention, and rise in value Faster than the inflation rate.  So in best case scenario in a year you would have a token that went from .014 to .10 cents all the while providing 580% ROI to the user.  However in very bad situation, you have a token that was diluted from .014 to .0014 in one year causing the gains you *thought* you would make in the pool (580%) become null or negative even, so both things are possible. 
One nice idea for a new defi idea is if we had a solidity-defi-lp-pool-contract (on yieldfields LP section) that allocated 10% to 'orphan charity'.  Im sure some solidity dev can make us a contract for that in the future!





7800 BBP

EDIT:

It turns out we cannot create a dual reward between wBBP + UTXO Stake.
This is because Dynaxius explained, once the wBBP is wrapped and staked into the liquidity pool (LP), amounts are shifted around and spent regularly to provide liquidity for withdrawals.  So the wBBP will not be able to be staked in a UTXO as it will be changing.

Is there a way to borrow BBP from the pool at an interest rate lower than what the UTXO mining would pay out? If this was around when PoDC requirement was around, people that didn't have enough BBP for PoDC requirement could have borrowed then potentially earn more than on the difference.
3400 BBP

Is there a way to borrow BBP from the pool at an interest rate lower than what the UTXO mining would pay out? If this was around when PoDC requirement was around, people that didn't have enough BBP for PoDC requirement could have borrowed then potentially earn more than on the difference.

When you say borrow from the pool, which pool do you mean, the YieldField defi LP pool, or from foundation.biblepay.org, or something else?

7800 BBP

Hmm, definitely like this idea of a loaning system, could provide others an ability to get into crypto easily, while also allowing everyone who has bbp to make a slight profit off of their unused currency. Would have to be sure that such a loan couldn't be broken by someone just going offline and transferring their funds to a separate account or paper wallet, though.
May God bless you all,
twinkle
1000 BBP

Also, is the drop in fractional sanc rewards here to stay, or just a temporary drop? Thanks, and may God bless you all,
twinkle
1000 BBP

I have been gathering a pretty comprehensive list of some Christian youtubers, companies, etc. that, whenever we deem ourselves ready to really make a push for adoption, we can contact for either advertising, support, or adoption. Also, Pat, sorry about not emailing you, I will do it soon once I have a better idea myself of what I am going to say to the church I am at pertaining to adopting BBP as a form of tithe, and once I get more settled in there too. Let me know if you would like to see the list I have made and add to it yourself. Maybe we should make that some sort of subthread on this site?
May God bless you all,
twinkle
1000 BBP

Yeah, you can post the list here or DM me if you want. I believe the Foundation has a Tweet List or a way to advertise messages within the system and get BBP. So, we could ask people to like, subscribe, and comment on the YouTubers as a start. It'd build some good will toward these individuals or companies.

I have been gathering a pretty comprehensive list of some Christian youtubers, companies, etc. that, whenever we deem ourselves ready to really make a push for adoption, we can contact for either advertising, support, or adoption. Also, Pat, sorry about not emailing you, I will do it soon once I have a better idea myself of what I am going to say to the church I am at pertaining to adopting BBP as a form of tithe, and once I get more settled in there too. Let me know if you would like to see the list I have made and add to it yourself. Maybe we should make that some sort of subthread on this site?
May God bless you all,
twinkle
1000 BBP

3400 BBP

Also, is the drop in fractional sanc rewards here to stay, or just a temporary drop? Thanks, and may God bless you all,
twinkle
1000 BBP

The Fractional Sanc ROI (I see its -10% right now, and just a month ago it was 78%), so that is dynamically calculated over the last moving 7 day average.
So its based on actual revenue (from running a sanc) minus actual expenses (of sponsoring an orphan).
So yeah it can easily turn positive again as soon as our market price goes about 20% higher (I guess thats .80 satoshi or so).

The nice thing about it even though its negative is you are still sponsoring an orphan for an 80% discount right now if you have a position....

7800 BBP

**** FRAUD/SCAM ALERT - TOKOK EXCHANGE ****


All, it has become apparent that Tokok has gone from 'reputable' to 'non-reputable' (and possibly a SCAM).

I'm sorry to report that this exchange refused to upgrade during our last mandatory upgrade (March 2021), and we have been trying to contact them over and over and they refuse to reply or upgrade.

More recently I've been monitoring the list of coins that are now in maintenance in TOKOK, and the list is growing signifigantly higher.
At this point I am starting to conclude that the owners of TOKOK are rug pulling the assets.

So please do not send BBP or any crypto over to TOKOK.  If you have funds at TOKOK I recommend withdrawing them (if they are non biblepay).  BBP is in maintenance so you can't withdraw actual bbp.

As far as a plan, I appeal to you to come together with me and pray for a resolution.  If we pray for TOKOK, a psalm like prayer, it could be good for them in the end if they repent and change their ways.  I also appeal to God with a resolution that they stop advertising false volume figures.  So in general you can pray for a positive resolution for the TOKOK debacle,  fair weights and measures in this space, and for the salvation of their owner(s).




*** USE CAUTION WITH DEFI (Decentralized Finance) ***



- Use extreme caution when investing in the DEFI space
- I recommend only sending BBP you can afford to lose until this space matures
- Start small and work up to a bigger number only if you feel comfortable
- Rug pulls exist in this space, where the owner of the contracts can pull the entire pools funds and run with all of it
- Use caution when exchanging your BBP to wrapped tokens, ensure the process works consistently many many times



7800 BBP

Thanks to whoever donated 5MM to the Foundation on 6-9!

As always, we will use this in the most efficient manner possible.
For example to dig a new water well, etc.

We will always be transparent with our expenses and community projects (and everything else).


7800 BBP

*** All whales have been Paid (Dynamic Whale Stake Reconciliation - Final) ***


If you were owed a DWS balance in the future, your DWS payment has just been sent and you have been paid in full (height 277277).  Also, if there was any discrepancy between what you should have received in total (since inception) that was included in this payment.

Whale Stake Reconciliation Report:

Code: [Select]


19:47:29

whalestakefinalreport


19:47:43

{
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  "BQKpAthM8pyYWpZfEvWRvQ7pZrecV3qZZw burned": 1500000,
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  "BRtbY3jJ32Zs4ZzfqXXqrbNh5oyyV8jZfL burned": 27339000,
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  "BSZ9Ag8qpEp893nnmawFzw59c1CKBt8xjR burned": 125000,
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  "BTbgCzc3YogmVvBkH6SoN9iJ3G31oxy14M burned": 160100,
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  "Grand Owed": 524496878.5620123,
  "Grand Paid": 422292306.3070009
}



Note, if you have a negative balance you can keep it as a gift from BiblePay.


DWS has been replaced with UTXO staking. 
In our next mandatory upgrade, we have Trust Wallet integration that will make UTXO staking very easy (it will work from the UI), and we now support 10 coins! 
We are also releasing the Biblepay Cryptocurrency Index, which is an index that tracks these 10 coins.



7800 BBP