Bible Pay

Read 2636 times

  • jaapgvk
  • Sr. Member

    • 494


    • 20
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #45 on: June 21, 2018, 02:10:34 am »
Fund update:

I've sold about half of last months BBP for BTC on southXchange and QIEX. Someone seems to have put up a 3M BBP sell-wall on southXchange (I saw the wall move from 40 to 34 Satoshi). My sell orders are above that, so since the wall arrived I haven't sold BBP anymore.

Anyway, that's the update :) Of course, the Fund has paid 1 BTC for CryptoBridge and now we're saving for other future exchanges.

I'm going to ask for another round of 'one Sanctuary worth of BBP', so 1.552.501 BBP (one sanctuary + proposal costs).

Code: [Select]
gobject vote-many f852c5ea1ddaac70e991b97814f28a1852a61ebbae9a595f8b524de6c4515322 funding yes
« Last Edit: June 21, 2018, 04:10:34 am by jaapgvk »


  • Rob A.
  • Administrator

    • 1101


    • 18
    • June 05, 2017, 08:09:04 pm
    • Patmos, Island Of
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #46 on: June 21, 2018, 09:21:44 am »
Fund update:

I've sold about half of last months BBP for BTC on southXchange and QIEX. Someone seems to have put up a 3M BBP sell-wall on southXchange (I saw the wall move from 40 to 34 Satoshi). My sell orders are above that, so since the wall arrived I haven't sold BBP anymore.

Anyway, that's the update :) Of course, the Fund has paid 1 BTC for CryptoBridge and now we're saving for other future exchanges.

I'm going to ask for another round of 'one Sanctuary worth of BBP', so 1.552.501 BBP (one sanctuary + proposal costs).

Code: [Select]
gobject vote-many f852c5ea1ddaac70e991b97814f28a1852a61ebbae9a595f8b524de6c4515322 funding yes

Great work keeping this treasury topped off.

I think our exchange future is bright, after cryptobridge,  (hopefully NEXT also) and then coinexchange.io, I think we will have double the investor presence.

I have a suggestion, this is sort of a caution.  Since none of us know the future price of the market (IE market timing is impossible to know), nor do we know the future price of bitcoin, I recommend dumping coins that are over 30 days old on the exchanges so as to keep the situation moving.  Obviously if you have the time and patience to do so slowly (IE 200K per day or something) then that is even better.  But my suggestion stems from this:  I would not want to see 3-6 million coins get backed up and unsold for 60 days while waiting for a better price.  Because what can happen is two very bad things:  Price could drop leaving us with nothing, and coinexchange.io could withdraw the deal (they have been known to if we wait too long).

So this is not a rule just a friendly recommendation that it would be better to flush them out each month and let the value buyers buy them up even if we have to take a hit.  I feel that over time, all this averages out for us.




  • jaapgvk
  • Sr. Member

    • 494


    • 20
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #47 on: June 21, 2018, 05:59:47 pm »
Great work keeping this treasury topped off.

I think our exchange future is bright, after cryptobridge,  (hopefully NEXT also) and then coinexchange.io, I think we will have double the investor presence.

I have a suggestion, this is sort of a caution.  Since none of us know the future price of the market (IE market timing is impossible to know), nor do we know the future price of bitcoin, I recommend dumping coins that are over 30 days old on the exchanges so as to keep the situation moving.  Obviously if you have the time and patience to do so slowly (IE 200K per day or something) then that is even better.  But my suggestion stems from this:  I would not want to see 3-6 million coins get backed up and unsold for 60 days while waiting for a better price.  Because what can happen is two very bad things:  Price could drop leaving us with nothing, and coinexchange.io could withdraw the deal (they have been known to if we wait too long).

So this is not a rule just a friendly recommendation that it would be better to flush them out each month and let the value buyers buy them up even if we have to take a hit.  I feel that over time, all this averages out for us.

Thanks for the suggestion Rob. I totally agree with this :) I thought that I set reasonable sell orders, but I didn't anticipate the recent devaluation. My strategy worked well in the past, but it doesn't seem to work this time around.

I will use the strategy of selling all received coins before the next superblock from now on.

Btw, this is still the Exchange Fund address:
https://blockchain.info/address/3AojspQgpSSDdPJJANj4UtSBFUZy8YdduT

I accidentally used my own BTC to pay for CryptoBridge, haha! So the amount in this address will stay static until I have received more than 1.0369048 BTC from selling BBP at exchanges. I can provide full accountability if requested. Togo can also vouch that CryptoBridge has been paid. Sorry for the confusion.


  • vuli
  • Newbie

    • 3


    • 0
    • June 02, 2018, 02:28:10 pm
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #48 on: June 24, 2018, 01:42:24 pm »
Just, please stay away from yobit. There has been  plently of problems with them...


  • jaapgvk
  • Sr. Member

    • 494


    • 20
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #49 on: June 25, 2018, 12:53:37 am »
Just, please stay away from yobit. There has been  plently of problems with them...

Thanks for the advice. This is indeed the conclusion we also came to. We will most definitely stay away from Yobit for the time being.


  • jaapgvk
  • Sr. Member

    • 494


    • 20
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #50 on: July 01, 2018, 12:52:17 pm »
Just an accountability post from my side. These are the coins I have sold in June on southXchange:

06/30 11:36 AM   Sell   46957.04000 BBP   0.00000025   Executed   7A2NK7VN
06/30 11:35 AM   Sell   294563.0000 BBP   0.00000028   Executed   236267GI
06/30 11:35 AM   Sell   143886.0000 BBP   0.00000027   Executed   N776YWH5
06/30 11:34 AM   Sell   100000.0000 BBP   0.00000026   Executed   XGVLQ1BY
06/30 11:34 AM   Sell   100000.0000 BBP   0.00000029   Executed   42T4LEUV
06/30 11:34 AM   Sell   100000.0000 BBP   0.00000025   Executed   P1QM863V
06/19 06:21 PM   Sell   150000.0000 BBP   0.00000040   Executed   UPFX3U2J
06/19 06:21 PM   Sell   200000.0000 BBP   0.00000040   Executed   4NTRM441
06/02 08:14 AM   Sell   100000.0000 BBP   0.00000042   Executed   HXKH72DD
06/02 08:14 AM   Sell   200000.0000 BBP   0.00000040   Executed   MBW48638
06/02 08:14 AM   Sell   200000.0000 BBP   0.00000041   Executed   1LFOFW34
06/01 12:32 PM   Sell   100051.0000 BBP   0.00000043   Executed   7F58DLP4


And on QIEX:
Pair   Type   Price   Amount   Filled
BBP/BTC   Sell   0.00000030   38169   0.01145070   BTC
BBP/BTC   Sell   0.00000028   23767   0.00665476   BTC
BBP/BTC   Sell   0.00000040   43000   0.01720000   BTC
BBP/BTC   Sell   0.00000041   40967   0.01679647   BTC
BBP/BTC   Sell   0.00000040   34352   0.01374080   BTC
BBP/BTC   Sell   0.00000040   8341   0.00333640   BTC
BBP/BTC   Sell   0.00000040   7307   0.00292280   BTC
BBP/BTC   Sell   0.00000042   5529   0.00232218   BTC

Last month I just set some sell orders, but the price went down and a lot didn't trigger. From this month on I will have the policy do try not to have coins that are older than 30 days.

These sales calculate to 2M+ BBP sold for about 0.7 BTC, which is quite nice. I just added sell orders for this months received budget, but will keep a closer look on the price with the intention to sell all of the BBP before the next superblock hits.


  • jaapgvk
  • Sr. Member

    • 494


    • 20
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #51 on: July 07, 2018, 09:15:35 pm »
I've made a new proposal called 'New Exchange Fund - July 2018'  :)