BiblePay - Mandatory Upgrade - For Entire Network
1.5.4.5 - Height 255,000
Press Release:
https://foundation.biblepay.org/Press/PressRelease1544.htm
Release:
https://github.com/biblepay/biblepay/releases/tag/1.5.4.4
More information:
https://wiki.biblepay.org/Mandatory_Upgrade_1545
Changelog:
https://github.com/biblepay/biblepay/blob/master/changelog.md
Most of the documentation for UTXO staking, BBP University and POP3 can be found in the referenced documents in this wiki page:
Announcement: https://wiki.biblepay.org/Mandatory_Upgrade_1545
UTXO: https://wiki.biblepay.org/UTXO_Mining
DAC: https://wiki.biblepay.org/Decentralized_Autonomous_Charity
POP3: https://wiki.biblepay.org/Decentralized_Email
UTXO How-to-video:
http://foundation.biblepay.org/Press/How_To_Stake_With_BiblePay.mp4
Explain Important Changes to the BiblePay Network at height 255,000:
- DWS will temporarily stay enabled for existing payments only (but will be disabled for new stakes) until all old stakes are paid. This is so we can promote UTXO mining instead.
- UTXO mining replaces DWS. With UTXO mining you can be rewarded the coinbase mining block reward when you add a new UTXO stake, and, additionally you can receive a perpetual reward in the UTXO leaderboard (daily).
- DashStake will be disabled, but, you may re-stake the dash stakes as UTXO stakes.
- The wallet will support more crypto-currency pairs for UTXO mining! At the cutover height you can stake BBP, or BBP+Dash, BBP+DOGE, BBP+LTC or BBP+BTC. Once successful, we plan on voting more pairs in!
- UTXO mining appeals to 17 million Dash addresses, and 450 million unique Bitcoin addresses, giving us a large potential new user base!
- RandomX merge mining is still fully implemented for block security. Since we are merge mined, no one can come in and "buy" BBP with hashpower.
- For all the blocks that are Not new UTXO transactions, our RX miners still get the subsidy! The UTXO subsidy only goes to new staked UTXOs as a reward to bring popularity to our network from other (foreign UTXOs) - IE newbies.
- When you stake BBP only, you receive approx. half the reward. When you stake BBP+any foreign currency, you receive up to double the reward. The reward is based on the lower of the two values * 2. For example, if you stake $200 of BBP combined with $150 of Dash, your UTXO is valued at $150 * 2 = $300. If you stake $200 of BBP alone, the UTXO is valued at $200. If you stake $150 of BBP + $200 of bitcoin, the stake is valued at $150 * 2 = $300.00.
- PODC is being phased out over 60 days. During the first month, PODC rewards are halved. Then during the second month they are reduced to 0 while UTXO rewards are ramped up to 99% of the daily GSC contract. Healing is still available at 1%.
If you encounter any questions, please feel free to ask so we can add to the documentation.
5500 BBP
Only 8 hours left before the mandatory cutover height! Exciting times. Imho, our most important release ever. I'm excited about offering free college level course material, and on a side note I'm taking these courses myself to edify myself - and to ensure they all work.
I've received a few questions, so I want to make sure everyone knows the answer:
1) Please ensure you are upgraded to 1.5.4.5 after block 255,000. The last release, 1.5.4.5 has a tiny feature in it that makes the stake coin selection accurate. Exchanges do not need to upgrade. Sancs can upgrade as a leisure.
2) One user asked how to stake with BiblePay only (they have no foreign currency). To stake with BiblePay only you have two options:
Option 1: If you go to the Send Money page, you can check UTXO stake. The amount you put in the amount field is the minimum coin amount searched for to be used in the stake. Note that stakes must be > 10K and less than 10MM. The actual coin amount used depends on what coins you have in your wallet. Lets talk about denominating your coins next.
It is important to denominate your wallet ocasionally, this only needs to be done every so often. To denominate your wallet into 100K bills, and let us assume you have 1MM biblepay, that would be 10 bills, you would type:
exec bankroll 10 100000
This would denominate your wallet into ten 100K bills. This is useful for staking bigger amounts.
Once we induct your stake into the leaderboard, it automatically gets locked so that you cant spend it by accident. (You can always unlock your stake by going into coin control, right click the amount and unlock it then you can spend it). Note that if you spend a locked stake, that particular stake will fall out of the leaderboard.
Note that you can double click on positions in the leaderboard to see what positions you hold. You will see each ticker and quantity, and its USD value, etc.
The second method to stake BBP alone is from the command line. You can type 'easybbpstake' for that. It gives you a little finer control over the dry run mode, etc.
What happens if I dont bankroll my wallet? If you don't bankroll it, lets say you have 250 transactions in it worth 1K each. Every time you send a stake, they will be rejected because you have no coins > 10K. The UTXO stake mechanism requires one coin at a time to be tied up, per new stake operation.
3) Do we have any better instructions on how to do a hybrid stake (BBP + my foreign currency) LTC / DOGE/ BTC / DASH? Yes:
Please watch this video on how to stake with the 'easystake' command:
http://foundation.biblepay.org/Press/How_To_Stake_With_BiblePay.mp4
5700 BBP
