BiblePay October 2018 Update

BiblePay has been working very hard to provide the best cryptocurrency experience to Christians around the world, and we would like to share an overview with the things we’ve been working on. Also, we would like to thank everyone that has contributed to this amazing project thus far, and are proud to have such amazing people among us.


Developer Status:

  1. MIP: Working on Church Tithing ability for Mobile Wallet.
  2. Bhavani: Adding proposal summary by expense type graph to core wallet.
  3. Rob: Working on IPFS Pin, IPFS hashgraph, IPFS garbage collector, IPFS Christian camps, in-wallet letter writing, object voting by non-sanctuaries, releasing a faster IPFS in-wallet list.

Key-man-risk:

Rob: Working to setup shared repository rules with MIP and then perform a repo test. Deadline: October 31st, 2018.

WebSite (www.biblepay.org):
Initiated by Andy-25-leaders, the request was a clearer and brighter landing page for investors and new users – with several enhancements: including clearer instructions on downloading BiblePay, using BiblePay, and more prominent links for buying BiblePay, and a clearer path for the most common operations.

These changes have been complete by Togo and Jaap on October 14th. Please review our new website at :https://www.biblepay.org.

Compassion:
We have successfully decreased our budget from 329 monthly orphans down to 132 (with 100 at compassion.com). We are now waiting for the exact credit memo figure (since we were prepaid by approx. 3 months for each orphan we canceled) to make an adjustment to our expense table.

Bitcoin Acceptance at Compassion:
We are waiting for Compassion to reply about the possibility of accepting BTC instead of USD.

Compassion API:
Rob requested an API be added to Compassion to help facilitate the Restful query for verification of third party Donors sponsoring orphans who are in good standing. This could potentially be useful in the future for us to trust individual home sponsorship receipts for proposals, and possibly open the door for a type of orphan-mining (IE POW rewards based on how many personal orphans are sponsored).

BOINC Floodgates Open:
As of October 15th, 2018, BiblePay now rewards non-BiblePay team members for Cancer Mining in Rosetta@Home and for World-Community-Grid research. The user must still stake a UTXO. In the first 24 hours, we observed 9 new~ non-BiblePay CPIDs, each having 0 UTXO weight.

BOINC Ease-of-use for new users:
The latest wallet (1.1.5.9+) makes it easier for new users to join BiblePay (using the QT version). Now the user can install the wallet, install BOINC, and perform all of the Rosetta@Home setup from within the QT wallet. We have given the user two new buttons: Create And Attach RAH, and Run R@H Diagnostics. The Create and Attach RAH button will automatically create a user account, attach the project to boinc, and start researching. The Run R@H Diagnostics button will check for installation issues and report the error in order to guide the user to understand what needs fixed.

One Click Masternodes:
We now have three options for turnkey masternode solutions: Script, GIN, and Apollon. With MIP’s One-click-script, a user who rents a cloud VM may install a Sanctuary with this script without needing to understand how to compile biblepay. For an even easier solution (but more expensive), a user may join GIN or Apollon. These services are roughly $150 per year, but they perform the installation and maintenance from end-to-end so the user only needs to monitor the GIN/Apollon dashboard.

Dropped by MintNodes:
We were dropped by MintNodes. Steve explained to me that the issue is that our wallet will spend the Sanctuary VIN during a Sanctuary reboot. We offered to fix the problem in the wallet. We are now in talks with MintNodes to see if we may be reinstated.

Future of IPFS:
IPFS is proving to be a valuable player in our infrastructure and a viable integration candidate for future value in many areas of BiblePay. IPFS is a decentralized peer-to-peer block sharing service, with the ability to communicate with “trusted” peers (think of Christian camps). In addition, IPFS shares blocks of data among peers, and these blocks are stored in a BerkeleyDB database (very similar to our Bitcoin block database). This is very positive in the sense that we are not storing Viruses or copyrighted works – only blocks of data with block hashes. Its up to BiblePay to implement IPFS in a responsible way, and we intend to do that by adhering to GDPR compliance. This means BiblePay has the ability to respect Deleted objects and therefore allow objects to be physically deleted (with garbage collection).
Since IPFS will give us the ability to store business objects, orphan records, expenses, income, childrens letters, BOINC data, team data, financial data, price quotes, leased documents, share data in a decentralized way, and also offer an alternative mining algorithm, it is clear that IPFS provides a huge amount of potential value to BiblePay.
Given that BiblePay has already proven that IPFS is valuable in its alpha test (the alpha test was migrating income and expense data into IPFS to check the viability of the Theymos report), and, our One-click Sanctuary initiative (this initiative is born of the spirit that it is more beneficial for BiblePay to offer turnkey Sanctuaries, in contrast to Sanctuaries that require IPFS – and this is for the benefit of certain investors desiring an easy to setup Sanctuary), this change of requirements means that the roadmap is changing to adhere to this novel feature. Non-IPFS-Sanctuaries means that our new initiative is to develop a proof-of-concept IPFS mining algorithm. This will be explained in more detail soon. From a high level, this means that Proof-of-work would become proof-of-document-storage and require IPFS.

Christian Acronyms – RoadMap Update:
Many people are asking where the latest updates to the RoadMap are. As you can see from this document, BiblePay is going through some growing pains. We had a sharp drop in price (due to the HODLers crash of 2018), and we are scrambling to find our place in the market, so as to provide true value as a utility. The fundamental reason for this regauging of development effort was that Rob has decided that IPFS provides more short term value to be slated into our development schedule Now, with a deprioritization of Stratis. This is primarily because Rob believes that Stratis is still in a volatile state, and those devs are working hard to bring it up to the level of Bitcoin, and therefore our time is better spent decentralizing our centralized document-storage needs. This also gives us a revenue stream: document storage in BiblePay, and cements us as a true utility (for the Howey Test).

Rob would like to create a proof-of-concept that includes some items from a ‘content-creation economy’ (IE think of letter writing and upvoting rewards, uploading of Christian videos, review of Christian videos by our users – with rewards), IPFS mining, IPFS camps, IPFS garbage collection. We will explain each of these in a user friendly way – in a separate proof-of-concept document for the IPFS mining algorithm. It will be in this document where Rob will create new Christian acryonyms as this project is built for BiblePay. Therefore, we will create Christian Camps for our method of decreasing the durability of IPFS storage and demarcating the IPFS mining pools. This serves a twofold purpose: It makes document storage cheaper, and it allows more Christian videos to be stored in our network by camp number.

These are the concepts that are now under development that will change the roadmap.

BiblePay Foundation:
The BiblePay Foundation, in its centralized form (as a 501c3) was spearheaded by Rob initially as a solution for our BTC->fiat liquidation problem, and shortly after creation of the by-laws for the organization, Rob was contacted by a few key members citing various risks that outweighed the gains. One, Mark Taylor’s 501c3 risk, another from LA-25-Leader Andy, on centralized governance risk, and Rob and the initial directors fasting cited some community questions of our allegience to Sancs and not directors, led Rob to make the decision to dissolve the foundation and approach this solution another way. The solution will be more aligned with our original mission: A charitable DAO, completely relying on our Sanctuaries for voting on governance issues. We intend to first explore the ability for all of our vendors to accept BTC, and after this is complete, we will create a technological solution to give our Sancs the ability to govern BiblePay wholly.

Apple version of BiblePay Mobile Wallet:
We have applied for the necessary Apple licensing requirements from Dun Bradstreet, and anticipate satisfying the requirements to release this app to production.

DAHF:
BiblePay entered into discussions with a highly respected SEC attorney. After weeks of discussions, we have come to the conclusion that the DAHF is not mature enough to be tokenized. Rob also had a conference call with Fluidity, and the conclusion was that Fluidity and Propellr are more expensive (requiring an entire SEC IPO) than either: a financial subscription service, or a private orphanage hedge fund. At this point, Rob is going to work with Bhavani on due diligence in each of those new paths. We may offer the DAHF as a subscription service in June 2019 from one of the BiblePay pools (as a non-BiblePay project – programmed by interested volunteers).

https://wiki.biblepay.org/October_Update

2018-10-17T14:29:49+00:00October 17th, 2018|