Bible Pay

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  • jaapgvk
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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 Andrews
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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
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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
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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
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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
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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
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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'  :)


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #52 on: August 09, 2018, 10:23:09 am »
Overview of BBP sold in July:

SouthXchange:
07/07 03:25 PM   Sell   49820.00000 BBP   0.00000037   Executed   TGBS21R2
07/07 03:25 PM   Sell   75000.00000 BBP   0.00000029   Executed   F8IW6EYP
07/06 09:06 AM   Sell   100000.0000 BBP   0.00000026   Executed   254F5N2H
07/06 09:06 AM   Sell   150000.0000 BBP   0.00000027   Executed   PU632H4L
07/06 09:06 AM   Sell   150000.0000 BBP   0.00000025   Executed   XXD7A6S3

QIEX:
BBP/BTC   Sell   0.00000033   74866   0.02470578     BTC   0.00004941 BTC   2018-07-20 05:26:16
BBP/BTC   Sell   0.00000032   29064   0.00930048     BTC   0.00001860 BTC   2018-07-20 05:26:10
BBP/BTC   Sell   0.00000032   18515   0.00592480     BTC   0.00001184 BTC   2018-07-18 21:32:03
BBP/BTC   Sell   0.00000032   21715   0.00694880     BTC   0.00001389 BTC   2018-07-18 21:32:03
BBP/BTC   Sell   0.00000032   30078   0.00962496     BTC   0.00001924 BTC   2018-07-18 04:19:44
BBP/BTC   Sell   0.00000032   30612   0.00979584     BTC   0.00001959 BTC   2018-07-17 20:20:41
BBP/BTC   Sell   0.00000031   13109   0.00406379     BTC   0.00000812 BTC   2018-07-17 20:20:07
BBP/BTC   Sell   0.00000031   36354   0.01126974     BTC   0.00002253 BTC   2018-07-17 04:06:35
BBP/BTC   Sell   0.00000031   43798   0.01357738     BTC   0.00002715 BTC   2018-07-17 04:06:35
BBP/BTC   Sell   0.00000031   45287   0.01403897     BTC   0.00002807 BTC   2018-07-16 18:03:49
BBP/BTC   Sell   0.00000031   12411   0.00384741     BTC   0.00000769 BTC   2018-07-16 06:06:05
BBP/BTC   Sell   0.00000030   51613   0.01548390     BTC   0.00003096 BTC   2018-07-16 06:05:50
BBP/BTC   Sell   0.00000030   13406   0.00402180     BTC   0.00000804 BTC   2018-07-16 06:05:50
BBP/BTC   Sell   0.00000030   41754   0.01252620     BTC   0.00002505 BTC   2018-07-15 11:05:21
BBP/BTC   Sell   0.00000030   31529   0.00945870     BTC   0.00001891 BTC   2018-07-15 09:42:03
BBP/BTC   Sell   0.00000030   6795   0.00203850     BTC   0.00000407 BTC   2018-07-13 13:31:34
BBP/BTC   Sell   0.00000029   33078   0.00959262     BTC   0.00001918 BTC   2018-07-13 04:02:49
BBP/BTC   Sell   0.00000029   34566   0.01002414     BTC   0.00002004 BTC   2018-07-12 19:02:11
BBP/BTC   Sell   0.00000029   30000   0.00870000     BTC   0.00001740 BTC   2018-07-09 18:50:27
BBP/BTC   Sell   0.00000028   66225   0.01854300     BTC   0.00003708 BTC   2018-07-09 18:49:42
BBP/BTC   Sell   0.00000028   73029   0.02044812     BTC   0.00004089 BTC   2018-07-09 18:33:37
BBP/BTC   Sell   0.00000028   13393   0.00375004     BTC   0.00000750 BTC   2018-07-03 16:54:31
BBP/BTC   Sell   0.00000028   5000   0.00140000     BTC   0.00000280 BTC   2018-07-03 16:01:14

I was abroad with very little internet this past month, so I had very little time to check the exchanges. I see that the price has dropped and some of my orders didn't trigger.

I just got back today. I will now check to see if we can get to 2 BTC as fast as we can :)
« Last Edit: August 09, 2018, 10:25:21 am by jaapgvk »


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #53 on: August 12, 2018, 09:52:52 am »
So, CoinExchange.io is paid. We didn't have enough budget, so I paid partly with my own BTC (and Rob requested extra funds this month).

The address below is still the Funds deposit address. The 'total received' is the only accurate number there (because of change-addresses and because I've paid the exchanges from my own BTC-account. But as you can see we're about 0.5 BTC in deficit as of now, so I'll be using the New Exchange Fund earnings first to close that gap before we can build up BTC again.

https://www.blockchain.com/btc/address/3AojspQgpSSDdPJJANj4UtSBFUZy8YdduT

I've also made a spreadsheet which I'll update from time to time:
https://docs.google.com/spreadsheets/d/1A0ZUlpMaw7pZ5YQEiLN7WoqZP1bq5VOcEZGzMS8KWlw/edit#gid=0

The total amount between the BTC deposit address and the 'total BTC received' in the spreadsheet are a little off because of transfer fees. The deposit address shows what is actually left in the end :)

I still need to sell 300k+ BBP this month btw.

Anyway. I think that the best way to proceed from here is that I keep sending BTC to the  Funds deposit address until we hit 3 BTC (the fees of CryptoBridge and CoinExchance.io combined), and after that I'll start a new Fund deposit address.


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #54 on: August 18, 2018, 04:29:10 am »
Hi everyone,

So, Rob asked for 1 million BBP (which he will send to me after the next superblock hits), and I will further ask what is left over in the budget for this month.

There are two proposals that are redundant ('Twitter Advertising August' and 'YouTube Video Review'). If I leave those out, there is still about 593k BBP left in this months budget. I will ask for that budget to recoup the 0.5 BTC I spent on getting us listed asap. Hopefully, that will be within two months.

I hope that you all vote in favor of this proposal. But I know that money is tight right now.

After I recoup the 0.5 BTC, I will decrease the 'New Exchange Fund' amounts requested and try to focus more budget on the upcoming PR-campaign.

Thanks!


  • 616westwarmoth
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #55 on: August 20, 2018, 05:27:38 pm »
How long do you expect the funding to be needed to recoup the cost?

I personally believe we're now good for the number of exchanges short of a top  25 sort of one (which would either be prohibitively expensive, or in a lot of cases free but needing to be justified by increased volumes).


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #56 on: August 21, 2018, 12:13:47 pm »
How long do you expect the funding to be needed to recoup the cost?

I personally believe we're now good for the number of exchanges short of a top  25 sort of one (which would either be prohibitively expensive, or in a lot of cases free but needing to be justified by increased volumes).

I agree with being good for the moment concerning exchanges. Hopefully - with the current market - it will take max two superblocks to recoup.


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #57 on: September 08, 2018, 06:56:54 am »
Hi everyone,

So, I've liquidated all the BBP that was in the fund. I'm a little disappointed at how much I could get this month, but the current market is how it is.

Sadly I'm currently still about 0.3 BTC short in the fund:
https://www.blockchain.com/btc/address/3AojspQgpSSDdPJJANj4UtSBFUZy8YdduT

SouthXchange has trouble loading at the moment, so I'll post the transactions later.

I won't be creating a proposal for this months superblock because we already pretty much spent all the budget on Compassion and Kairos (unless Rob drops the amount BBP he is asking for Compassion).


  • jaapgvk
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Re: New Exchange Proposal - Add new Biblepay Exchange
« Reply #58 on: September 30, 2018, 07:13:46 am »
Hi Everyone,

As I stated in my last post, We're still a bit short in the New Exchange Fund, so I'll be requesting funds to recoup that until we are in the green again. This is the funds address:
https://www.blockchain.com/btc/address/3AojspQgpSSDdPJJANj4UtSBFUZy8YdduT

The only important number is the 'total received' number (because of change addresses and me having paid for a listing with my own BTC by accident). We paid 3 BTC on costs for getting listed on exchanges. So we're about 0.3 short still.

Here is an overview of all the sales (which I posted before). The number is a bit off with the New Exchange Fund address because of trading fees and withdrawal fees:
https://docs.google.com/spreadsheets/d/1A0ZUlpMaw7pZ5YQEiLN7WoqZP1bq5VOcEZGzMS8KWlw/edit#gid=0

Anyway, I'm requesting funds to recoup the costs I personally made until we're at 3 BTC. Everything above that will be put in the 'New New Exchange Fund'. I want to request 1.5M BBP for this in this superblock. At the current exchange rate, it will probably take 3 superblocks before we're in the green again.