Mining How-To

Learn how to earn your very own Biblepay coins the easy way

The basics

  • Our mining is CPU-only, and helps researchers find cures for diseases.
  • To fend off malicious mining (such as botnets), we require staking in order to be able to mine (although you can mine with a pool that does the staking for you in exchange for a fee). Please see the ‘BiblePay UTXO Reward Chart’ in this link for the staking requirements.
  • You need a BiblePay wallet that is online 24/7 in order to be able to receive mining-rewards.
  • You only need one BiblePay wallet, and you can connect as many ‘CPU-miners’ to that wallet as you like.


Commonly used terms:

CPID - Cross-Project-ID - This is a 32 character unique identifier that identifies one as a BOINC Researcher. You have One CPID for all of your projects. So for example, if Bill is cancer mining on 7 machines, Bill has ONE CPID. The CPID does not change. Also, if Bill participates in World Community Grid And Rosetta@Home, Bill still has ONE CPID (the same CPID is shared between WCG & RAH).


Magnitude - A number from 0-1000 measuring the strength of the researchers contribution relative to other researchers, with 1000 being the highest possible reading. The magnitude calculation is : (TotalUserRAC / TeamRAC) * 1000. Since the sum of all users magnitude equals 1000, each daily superblock contains a total of 1000 magnitude. Payments per researcher are based on magnitude. Reward = Budget * (Magnitude/1000).


TaskWeight - A number from 0-100 measuring the accuracy of a users PODC task submissions with 100 being the highest. The sanctuaries compare the purported timestamps for each task with the actual timestamps at completion and compile an accuracy ratio. This becomes the TaskWeight.


UTXO Weight - A number from 0-100 measuring the researchers staked capital participation level. PODC requires a certain amount of BBP capital to be staked per day in order to participate and receive cancer mining superblock rewards. This is a percentage of measured participation (UTXOReceived / UTXORequired) * 100. For example, if a user has 1000 RAC, the UTXO requirement is currently 20,000 BBP. If the user stakes 10,000 BBP today, their UTXO Weight is 50 (50%).

PODC - Proof of Distributed Computing. This is an algorithm that rewards researchers for participating in cancer mining, or related/approved BOINC projects.


POBH - Proof of Bible Hash. This is a heat mining algorithm, a form of POW, that through chained verses of the KJV bible allows a user to solve a proof-of-work block, providing security to the network.


Staking or Mining - Staking is more aligned with the activity of posting a collateral amount in order to receive a reward. Mining is the activity of trying solutions to a problem until successfully solving a block. BBP uses both: PODC requires a Collateral UTXO transaction (a form of Staking). BBP's POBH POW algorithm for block security is a mining algorithm.

(You can find a list of more commonly used terms here.)

 

Easiest set-up for desktop-users

The easiest way to set-up your miner is the following:

1. Install and run the BiblePay wallet of your choice, and let it sync.

2. Install and run the recommended version of Boinc for your OS.

3. Go to the 'Distributed Computing' tab in your wallet, fill in an e-mail address and a desired password, and click 'Create and Attach R@H Account'.

4. Boinc will start solving tasks. Let Boinc run for two days and collect your staking bonus.

6. Go to the  'Distributed Computing' tab in your wallet, and click the the 'Associate Reseacher CPID with BiblePay' button.

7. You're all set! If you need more information on staking and statistics, please visit 'Step 4: Staking and Statistics'.

 

P.S. If you run into problems, or use a system without a GUI, please start the extensive guide by clicking the 'Next step: Register with Rosetta@home' button..

Next step: Register with Rosetta@home Learn more about Rosetta@home

 

 

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