Bitcoin Forum

Hello,

I'm working on a new Bitcoin derivative, Bitflate. The main difference: It inflates 7% per year. The project's goal is to create a stable crypto currency, stable coin through inflation.

It has the following differences:

- It creates 19,3 million coins in the first 4 halvings.
- In subsequent halvings, coins inflate 7%.
- Proof of Work timespan is 3.5 days. We want 1-year halving interval.

https://bitflate.org/

Download the latest binaries: https://github.com/bitflate/bitflate/releases/tag/v0.18.1

What is Bitflate?

Bitflate is a Bitcoin-based crypto currency. Bitflate has inflated supply.

Bitflate chain is separate and has no relationship with Bitcoin chain.

Why Bitflate?

Bitcoin has a supply limit of 21 million coins. This limit creates a value puzzle for Bitcoin. When all bitcoins are mined, there’s 0 coin reward. This means the value of a bitcoin can be infinite.

Bitcoin encourages HODL behavior. It’s being seen as a Store of Value (SoV). We believe other cryptocurrencies with a supply limit would behave as a SoV.

The goal is to create a stable crypto currency, stable coin through inflation.

By adding inflation, we can:

- Prevent price from fluctuating wildly.
- Discourage HODL behavior, increase liquidity.

More information: https://bitflate.github.io/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

Mining pool:

https://www.mining-dutch.nl

We're looking for developers, marketers. Come join the project if you're interested. My email contact at bitflate dot org.

Trading on Unnamed Exchange. Use with caution. https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our Discord community: https://discord.gg/utnEyp8

More update on my project.

I revised the block reward schedule a little bit. I still keep 1-year reward intervals. For the first 4 halvings, we follow Bitcoin schedule. On the 5th halving, we switch to inflation of 7%. The idea is to give early adopters more rewards. Here's the block reward schedule for the first 10 periods:

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

I'm open for ideas and contributors. We're looking for developers with understanding of Bitcoin Core, mining equipment, mining pools. Please send me an email at dnprock at gmail.com if you want to contribute.

I'm close to having testnet launch. Stay tune for builds.

I'm back and happy to announce the release of Bitflate Core binaries. After months of tinkering, it's now ready. Please follow this post for instruction:

https://bitflate.github.io/post/2019/07/19/bitflate-binaries-v0.18.0.html

Please note: the project is in experimental stage.

Phuoc Do

I'm mining some blocks with my gekko-newpack . ;D

Awesome! Let me know if you have any question. I'm monitoring this thread.

I think this coin need an explorer , and you should create a discord channel to increase the community

Block explorer is coming. For community, I'm looking at discord, telegram, and slack. I'm not sure which one to use. Will announce when I have it finalized.

There is no way people in the space are going to buy into what you are selling, for me the idea of the project is sound but the way you want to sell it with inflation to me is wrong, the term inflation could be what is driving away people from your project and prevent it from having strong community around it

I think deflationary currencies are only the first 1/2. The 2nd half is inflationary currency. Existing cryptocurrencies are trying to have some kind of limited supply. Bitcoin is the most successful one. Other cryptos aren't as successful. They never achieve the kind of decentralization that Bitcoin has. Their founders always premine a bunch of coins. Bitcoin is deflationary. It's an SoV. It makes people HODL. People have talked about using Bitcoin for transactions. I think that'll never happen. It's an SoV. Why should I spend it for coffee purchases?

Bitcoin exists because it has inflationary nemesis, fiat currencies. But fiat currencies suffer from human's political agenda. Stablecoins attempt to connect deflationary currency with inflationary fiat. I think the better long term solution is a digital native inflationary currency.

There are some interesting characteristics of inflation.

1. Inflation will decentralize token holders. If you don't put your tokens to work, they will worth less over time. Bitflate is permissionless. Businesses have equal access. They are free to participate in the system. Inflation can level the playing field for everyone. Businesses have incentives to circulate their tokens. With Bitcoin, you have Bitcoin whales. They hold lots of bitcoins. They can decide to pump and dump.

2. As the project's creator and a token holder, I don't have a lot of incentives to premine or hold a bunch of tokens. I premined a few thousand blocks to create checkpoint. I know that the currency will eventually inflate. I don't need to hold my bag. My long term goal is to provide services to businesses using this inflationary currency.

3. Digital native inflation means that the supply inflates at a constant rate. It's predictable. We can build business to mitigate the effect of inflation. For example, you can run a bank and give people interest rates on their inflationary currency. This is similar to how we have saving interest rates for your fiat currencies.

I design the chain parameters to reward early adopters with more tokens. I think it will encourage early grass root adoption. Reward schedule below:

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.45 (start of inflation 7%)
5: 6.90
6: 7.39
7: 7.91
8: 8.46
9: 9.05
10: 9.68

Bitflate supply inflates at 7% per year. If the token is successful and gain adoption, I think its price will appreciate more than 7% per year. If you are an early participant, you're likely to benefit.

Bitflate is not a competitor to Bitcoin. It's not a SoV. I think in the future, people will have 2 types of accounts: long term saving SoV and short term transaction tokens. Users swap between SoV and transactional tokens depending on their needs. I think it'll benefit the price of bitcoin as well. Cryptocurrencies will consist of 2 contradictory types: inflationary and deflationary.

I'm not building a community of HODLers to pump and dump their bags. I'm building a community of people who want to drive cryptocurrency adoption for businesses.

We just launched Bitflate explorer. Check it out:

https://explorer.bitflate.org/

Note: hashrate is low, the network susceptible to attack.

We released version 0.18.1 of Bitflate Core.

https://bitflate.org/post/2019/08/11/bitflate-binaries-v0.18.1.html

Please upgrade your binaries.

Hi please help how to mine ?

Thank you for your interest. Here's our mining guide:

https://bitflate.org/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

I tweeted a picture of my mining setup:

https://twitter.com/bitflate/status/1154155116980604928

Computer: ~ $200.
GekkoScience NewPac miner stick, fan, usb port, amp meter: ~ $200.

The whole setup consumes about 30 - 50 Watt.

Reminder: Always use a dedicated computer to avoid malware infection. Download build from github.com.

tutorial on windows mining please :)

Anyone else not syncing?

I'll add mining instruction on windows today.

What syncing problem do you have? Try to run bitflated daemon before bitflate-qt. There're 2 seed servers:

159.203.68.109 (s1.bitflate.org)
157.230.117.175 (s2.bitflate.org)

We have these seed nodes listed for daemon to discover. But you can always add them manually:

# addnode s1 seed
./bin/bitflated --adnode=159.203.68.109

If you still have problems, can you post a snippet of your bitflated daemon log?

More info: https://bitflate.org/post/2019/08/11/bitflate-binaries-v0.18.1.html

Dev please contact on Discord : https://discord.gg/W6mUUVM

https://i.imgur.com/svOmADq.jpg

To Delete

source code please.

CryptoSDesigner: thanks for the design. But I'm not interested in changing our current logo. I do need help in fixing some tests for the client. If anyone is interested, ping me at contact@bitflate.org.

AkiAfroo: source code is here: https://github.com/bitflate/bitflate

What algo it is please ?

Bitflate uses SHA256, same as bitcoin. See our mining guide:

https://bitflate.org/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

https://i.imgur.com/zGEFoVP.jpg

Web: https://altmarkets.io
Discord: https://discord.gg/ZhQzy5f

Hi !

Stuck at block 14001, it won'T synchronize more :O



EDIT:


Nevermind it only needed some love and hashrate :)

Altmarkets, thanks for interest. This chain is permissionless. I assume you can list it on your exchange if you want. But I recommend not trading this coin with real money. The network hashrate is still low. If you want Bitflate coins, you can mine them. Mining guide is here:

https://bitflate.org/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

What is the RPC PORT please ?


I've tried 7332


But got these errors:




Bitflate error getblocktemplate
connecting to coind BFL
ERROR: rpc_do_call: 127.0.0.1:7332 404
ERROR getaccountaddress Bitflate
ERROR: rpc_do_call: 127.0.0.1:7332 503
 invalid json: <HTML><HEAD>
<TITLE>503 Service Unavailable</TITLE>
</HEAD><BODY>
<H1>Service Unavailable</H1>
</BODY></HTML>




I can still mine it tho !


But just wondering why i had theses errors if it still works

By the way,


May i ask you which tutorial did you follow for making the Block Explorer ?



I am trying to make one myself for a coin and i still cant get it done >_< !


Thank you !

The RPC port is 8332.

I use this explorer: https://github.com/iquidus/explorer. The setup instruction is on the github page.

Bitflate chain has grown quick. We're at block 17k with 16 addresses now. Thanks everyone!

I doenst say what version of Ubuntu to use , ive tried the same tutorial


I tried with version 16.04




Oh yes for the blocks i was mining it last night :) !!!!

Why the difficulty never seem to change :O it is at max 22.


Not going even higher

It just changed to 91. Our hashrate is at 37 GH now. Nice!

Oh that'S great !

Where tutorial for windows mining ?

It was on main page isnt =o ?

Here:


https://bitflate.org/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

CryptoSDesigner, I posted Windows instruction on the mining guide article:

https://bitflate.org/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

Someone is mining heavily in the past 2 days. We're at block 20k now. MiningCoinsPool, is that you?

No not me

Looks like some professional miners are acquiring bitflate coins. They slowly push up hashrate and mine lots of coins. We're at 548 GH/s and 1461 difficulty. I don't see anything irregular. If someone notices anything, please let me know.

I created a discord channel. If you have any question, you can ask me directly in there.

https://discord.gg/utnEyp8

I'll try to be online in the channel during day time. I live in the Seattle area, Pacific Time.

It came to our attention that previous software builds didn't enable SegWit properly. I fixed the issue and rebuilt v0.18.1. You can download it here:

https://github.com/bitflate/bitflate/releases/tag/v0.18.1

We're now at block 29510. SegWit is enabled since block 28224.

https://explorer.bitflate.org/

 

Exchanges ? ??? ???

Sorry, we don't have an exchange listing. That may change soon. I'll update here when we have one. Join our discord channel for updates: https://discord.gg/utnEyp8.

We're at block 36182 and 1.8 million coins now. Reminder: block reward drops for 4 halvings before inflation.

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

https://explorer.bitflate.org/

everybody can create their own bitcoin derivative or bitcoin clone or bitcoin imitation or whatever you call it , but the fact lies that no one has ever surpassed yet the achievements of bitcoin.


they are mining and then dump once it hit the exchanges. of course, what can you expect? from the faq section itself, you know that this will not gonna last long -

https://i.postimg.cc/XN1PHDGG/Screen-Shot-2019-08-27-at-6-26-34-AM.png (https://postimages.org/)

Bitflate (BFL) uses the same PoW consensus as Bitcoin. Miners are using electricity to generate BFL coins. They are spending money. I am cautious of high coin price in the FAQ. But it is reasonable for miners to sell the coins to recoup their mining cost.

Bitflate is not a Store of Value like Bitcoin. The goal is not sky high coin price or competing with Bitcoin Store of Value. The goal is to create a coin with somewhat stable price. I expect miners to sell their coins on the market. Inflation will create pressure to sell. Inflation removes the HODL mentality in limited supply coins.

Why should you mine or get Bitflate coin? Bitflate inflation is set at 7% per year. It doesn't issue more coins arbitrarily. I think if adoption for the coin increases faster than supply inflation, early adopters will be rewarded. That is the bet we're making. It is still an experiment. Do your own research and decide.

Libra and stablecoins are somewhat centralized and permissioned cryptocurrency. Bitflate is more similar to stablecoins. But it is permissionless, decentralized, digital native.

Why use bitcon logo? for get some community for joining? or want to be popular?, Let's be creative man, alot of out there have logo can implement your new project.

reallester, that is not the Bitflate logo. A user on this forum, CryptoSDesigner, designed it and tried to get me to use it. Our current logo is on the explorer page.

https://explorer.bitflate.org

It is me who mined that much, and i am NOT going to dump it when it hit an exchange, it is the opposite of a smart move actually

Bitflate now available on:
Mining-Dutch Pools

website:
https://www.mining-dutch.nl/
Stratum:
stratum+tcp://sha256.mining-dutch.nl:9996

Payout:
Proportional every 15 minutes,
Payouts and Convertion to any currency we have,

Mining modes:
We offer the following modes that are all completely isolated from each other.
1. Multiport (can also be mined Solo / Party )
2. Normal Pooled + Custom sets
3. Solo + Custom sets
4. Party + Custom sets

Peers list:
addnode=208.167.255.245:7333
addnode=159.203.68.109:7333
addnode=157.230.117.175:7333

https://i.imgur.com/BhFfhhh.png

Update: we just passed 2 million coins. I'm excited about this milestone.

The coins are getting distributed into many wallets. We want to increase decentralization.

https://explorer.bitflate.org/richlist

Reminder: Bitflate mining rewards early adopters with more coins.

First 10 halvings' rewards:

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

Block explorer: https://explorer.bitflate.org

I'm experimenting Lightning Network on Bitflate blockchain. Yes, it's possible to use Lightning for altcoins.

Original post: https://bitflate.org/post/2019/09/07/bitflate-lightning-network-with-c-lightning.html
Join our discord channel: https://discord.gg/utnEyp8

Bitflate is a Bitcoin fork with constant inflation. Since it is updated frequently with Bitcoin Core code base, it has Lightning Network support. Bitflate mainnet activated SegWit at 28k block. In this article, we describe how to use c-lightning on Bitflate testnet. You can use it on mainnet.

Note: Lightning Network is an experimental protocol. c-lightning is experimental software. Please use it with caution. Always run on testnet first. Contact us if you have problem.

To run Lightning Network transactions, you will need at least 2 machines (send and receive). You first need to build or download Bitflate Core and c-lightning software on both machines.

https://github.com/bitflate/bitflate/releases
https://github.com/ElementsProject/lightning/blob/master/doc/INSTALL.md
https://github.com/ElementsProject/lightning/releases

Send Machine

On send machine, start bitflated and lightningd.


Create new address in c-lightning and send coin to c-lightning address:


After this, you need to mine a block to process the transaction. If you need help with mining a block on testnet, please send us an email: contact@bitflate.org.

After your transaction is mined into a block, you should see the amount in c-lightning:


Receive Machine

On receive machine, start bitflated and lightningd.


After lightningd start, copy the server public key. It’s a string that look like this: 0284a33b6286d9647b9e2fa4c7e2f71f0bd78b97c78b49726c8d04c204648fed36.

Send Coins

We are now ready to send some coins from sender machine to receiver machine.

On sender machine:


Lightning Network requires several nodes to route transactions. You may get and error like: “invoice: insufficient incoming capacity”. In that case, you don’t have sufficient nodes. See the below article for possible solutions.

https://medium.com/lightningto-me/practical-solutions-to-inbound-capacity-problem-in-lightning-network-60224aa13393

Bitflate is now listed on Altmarkets.io !


https://altmarkets.io/trading/bflbtc

Yes, we're on altmarkets now. First exchange. I was involved with the listing process representing the Bitflate community. However, I do not endorse any exchange. Please do your own research before sending your coins and proceed with caution. Onwards! :)

Thanks TillKoeln, Unnamed Exchange is proven to be a good exchange with affordable fee.

As always, please proceed with caution.

I purchase my first batch of BFL coins on Unnamed Exchange. Priced at 10 sats per BFL coin.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

For those who follow this thread, I've written a new article about crypto with inflation.

The Next Big Thing in Crypto: Using Inflation to Create Stablecoin

https://bitflate.org/post/2019/10/10/the-next-big-thing-in-crypto-using-inflation-to-create-stablecoin.html

Bitflate is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Mining update:

Block: 45.3k.
Coin supply: 2.26 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

Onwards. :)

Hi everyone,

Exciting update. We've reached 50k blocks!

Block: 50k.
Coin supply: 2.5 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

Onwards. :)

I've written some articles about Libra, Facebook cryptocurrency. I think they highlight the need for a crypto like Bitflate. Check out the discussions below.

Market is Not Ready for Libra
https://bitcointalk.org/index.php?topic=5196266.0

Building Stablecoin: Bitflate vs. Libra
https://bitcointalk.org/index.php?topic=5194840

Join our discord community: https://discord.gg/utnEyp8

What is the difference when Bitflate is compared to Bitcoin, if we exclude inflation,
is specifications and everything else the same as for Bitcoin (blocksize, etc...) or not?

Bitcoin has 10 minute block time and 4 year subsidy halving. Besides inflation, Bitflate has 2.5 minute block time. It'll hit subsidy adjustment every 1 year for 7% inflation. Otherwise, it's similar. I also design block reward system tilted to early adopters. It'll give users more coins before inflation starts.

0: 50 (supply: 10 million)
1: 25 (supply: 15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (supply: 30 million)

We're at block 53k now. The first halving will happen at block 210k. I think this feature would give users incentive to hold the coins. It's similar to Bitcoin's limited supply incentive. But Bitflate is experimental. I'm trying to bootstrap a chain with inflation. This is my best design.

Thanks for your interest. Bitflate dev here. Most of the information can be found on Bitflate website. https://bitflate.org/

You can find the coin description in this article.

https://bitflate.org/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

You can read through the blog articles to find more information. I've collected a lot of feedback for Bitflate now. I'll put them into a whitepaper.

Bitflate is decentralized like Bitcoin. So there is really no central authority to pay and promote it. Bitflate holders should tell others about Bitflate. I myself do a lot of it. I am an investor in Bitflate. :) But I suggest people to do their own research before jumping in.

Hi everyone,

I wrote a new article: Economic Incentives for Inflating Cryptocurrency

Repost here for followers of this topic.

Original Post: https://bitflate.org/post/2019/11/01/economic-incentives-for-inflating-cryptocurrency.html

Bitflate is a cryptocurrency with a constant inflation of 7% per year.

Skeptic: Your Bitflate coin supply inflates. It’ll devalue people’s bag of money. Nobody will want to hold it.
Me: Inflation creates more coins. More people will adopt it. That’s how it will retain value.
Skeptic: That’s a ridiculous idea. It won’t work.
Me: Yeah, it is kinda weird. But it may work.

Everyone got into crypto because they don’t like fiat inflation. Bitcoin is the pioneer. It has limited supply, really limited, eventually zero supply. This is more limited than gold which has about 1% inflation. Inflation has become a touchy subject in crypto. Most people reject it.

I think this rejection of inflation hinders crypto adoption. This is the reason why I decided to create Bitflate, a cryptocurrency with 7% per year inflation. Crypto enthusiasts question me about the incentives for people to adopt Bitflate. I thought a lot about these. Candidates are the technology, the marketing, the community, the belief, the hope, the opposite of Austrian economics, the solution to cryptocurrency adoption. But I think none of these are the incentives. Inflation is about economics. The answers are economic.

For Bitflate cryptocurrency, I see two incentives: Bitflate Reward System and Bitflate Adoption Rate.

Bitflate Reward System

Although Bitflate chain has inflation, I design a reward system to give more coins to early adopters. The idea is to encourage people to hold on to their coins and create some restriction of supply. I think this create incentives to hold Bitflate coins early on. This way people with coins don’t dump them. The reward system is as follows:

0: 50 (supply: 10 million)
1: 25 (supply: 15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (supply: 31 million)

For the first 3 halvings, Biflate follows the same reward schedule as Bitcoin. But it will switch to inflation after 4 halvings. I think the reward schedule create incentives to hold Bitflate coins early on before Bitflate reaches critical mass. Even with inflation, it will take 10 years for supply to reach 31 million coins.

Bitflate Adoption Rate

After the chain passes its 4th halving, reward will start to increase. There is no supply restriction. Bitflate survival is dependent on adoption rate. There are now 3 possible scenarios:

- If adoption rate is around 7%, the coin will retain its value.
- If adoption rate is greater than 7%, the coin may gain more value.
- If adoption rate is less than 7%, the coin will decline and die.

Long-term Transaction Coin

If Bitflate manages to survive for many years, its adoption will eventually plateau. This is inevitable. At that point, I’m not sure what will happen. People don’t have incentive to hold it. Does it implode and collapse? I think we may be able to develop interest banking to prevent value loss. Because it is digital, it could be easier to manage than inflationary fiat currencies. It may become a transaction coin. Businesses may accept it.

Bitflate is experimental

Despite the two incentives, Bitflate can fail. If Bitflate fails to reach critical mass, it may implode. Price and hashrate will crash. Users may need more than just these two incentives. Historically, authorities force people to use whatever inflationary currencies they issue. On the other hand, people like deflationary assets like real estate, gold, Bitcoin. Bitflate is a new digital alternative. It is better than inflationary fiat. But it may not provide enough incentives.

Hi everyone,

New article: Tether Problem Highlights the Need for Inflating Cryptocurrency

Original Post: https://bitflate.org/post/2019/11/05/tether-problem-highlight-the-need-for-inflating-cryptocurrency.html

Bitflate is a cryptocurrency with a constant inflation of 7% per year.

Tether stablecoin is in the news again. This time, Bloomberg reported that one Bitcoin whale may have fueled the price surge in 2017. Tether has pending investigations and lawsuits. Many bitcoiners continue to defend Tether. As a private company, Tether dodged authorities by relocating to geo friendly countries (Hong Kong and Taiwan). There is no way to fully audit Tether transaction record. Tether problem highlights the need for a decentralized and digital native transaction coin.

Permissionless is a key feature of cryptocurrency

It is hard to invent money that everybody on planet Earth agrees to use. Bitcoin is the first successful form of digital money. Permissionless is an important and necessary feature. Permissionless comes with tradeoff. We can’t control its price. Tether team may have good intention. But when they eliminate permissionless and try to control it, things inadvertently fall through the cracks. For example, how does Tether team reliably keep track and reserve fiat for each Tether coin? Tether team may have started with spreadsheets. Later, their software may contain a bug that inflates Tether coin over reserve. When Tether team operates the whole system, it’s really easy to make mistake. In this case, Tether team is wholly responsible. This problem will continue to exist in permissioned blockchain. When it comes to digital money, every participants need to share the responsibility.

Why should everybody trusts one company to create stablecoin?

When you need Tether coin, you go to Tether Limited. This creates a choke point. What if all cryptocurrency usage needs to go through Tether. Assume Tether team is ethical, how do we ensure that its software does not contain a bug. What kind of assurance does Tether Limited offer? The risk of using a centralized stablecoin is high.

Besides Tether, there are other stablecoins: USDC, Gemini dollar. But each coin runs on different software. We run into the same risk like Tether. Libra makes significant improvement. It works based on open source software and governed by an association of reputable members. But Libra is currently facing regulators’ scrutiny. The market is not ready for Libra.

The role of inflating cryptocurrency

How do we break this deadlock to move cryptocurrency forward? I think the space needs a new category: decentralized and digital native cryptocurrency with constant inflation. With inflating supply, people will not hold the coins for just price speculation. With balanced reward system and adoption rate, inflation can create more supply for new adopters. The blockchain is decentralized. The tradeoff is price would not be completely stable. But it is a good tradeoff for being permissionless. As more people become comfortable with using cryptocurrency, they would be more open to stablecoin alternatives like Libra. This is how we move cryptocurrency forward.

Hi everyone,

My new post on crypto future. Cut through the noise and move forward! :)

Original Post: https://bitflate.org/post/2019/11/10/emerging-markets-of-cryptocurrencies.html

Ten years after Bitcoin whitepaper release, cryptocurrencies have advanced. But its progress is slow. All cryptocurrencies, including Bitcoin, are just niche speculative assets. We have Bitcoin, Litecoin, Dogecoin, Ethereum, Ripple, Stellar, and many others. Why has a single crypto made into everyday transactions? We still can’t purchase coffee with cryptocurrency. The world of finance remains disconnected from crypto.

I believe the problem is the lack of experimentation with crypto monetary policy. Crypto builders have focused a lot of attention on the technology. Monetary policy changes are hacks to fix temporary issues. For example, Dogecoin and Grin have tail emission. This kind of supply increase is intended to keep miners around. It does little to change long-term supply and monetary policy. Eventually, tail emission will behave like zero new supply.

I have advocated for more experimentation with crypto monetary policy. Facebook recently introduced Libra. I think it is an interesting improvement. Forward to the future, I develop a framework to understand emerging markets of cryptocurrencies.

https://bitflate.org/assets/images/CryptoCentralizationDecentralization.png

Between centralization and decentralization, we have a range of currencies. Each of them will behave differently. Centralization will enable control of currency supply and price. With decentralization, we rely on computers to handle crypto operation. We will not be able to control supply and price. In exchange, rules are fixed. People cannot manipulate rules for their advantage. The game is fair for everyone who understands its rules.

Store of Value & Digital Gold Cryptocurrency

Bitcoin is the pioneer and leader in Store of Value (SoV). Limited supply feature makes Bitcoin a Store of Value. Bitcoiners understand the software and its rules. It is extremely difficult to change them. Other altcoins with limited supply will fall into this category. They are competing with Bitcoin for market share. For example, Litecoin positions as Digital Silver. Ethereum is Programmable Store of Value.

I see the following emerging markets of cryptocurrencies.

Centralized and Semi-Centralized Cryptocurrency

On centralization side, we will have improved centralized currencies and cryptocurrencies. Central banks will eventually integrate more technologies. They may record and publish their currency operation on a public digital ledger. Private companies have made strides in providing stablecoin connection between crypto and fiat. Tether is an example of stablecoin connecting crypto and fiat. Ripple and Stellar are trying to adapt crypto software for traditional financial system.

Libra departs away from centralization. Facebook introduced the Libra Association which includes reputable members. Libra software is open source. Libra governance can be more transparent than other centralized currencies.

Interesting development in this category will involve experimentation with software system and monetary policy.

Inflating Cryptocurrency

I think this will be an emerging type of cryptocurrency. Crypto market has overlooked inflation. Being dogmatic about limited supply creates a blind spot. Crypto builder historically dismissed inflation. I think this hinders crypto adoption. Inflation can stabilize price. It discourages HODL behavior. It makes the currency more suitable for transactions. Inflating cryptocurrency can be decentralized and governed by fixed rules. As people becomes more comfortable with using inflating cryptocurrency, they will understand the role of SoV like Bitcoin.

Bitflate is a cryptocurrency with a constant inflation of 7% per year.

Hi everyone,

Mining update: Bitflate just passed 60k blocks and 3 million coins in circulation.

Block: 60k
Supply: 3 million

60k block here:
https://explorer.bitflate.org/block/00000000000005b50a37e94459ce8be093b8459e4cf26e8aed3baecc02a4549e

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (10 million)
1: 25 (15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

Bitflate coin is added to CryptoCanary. Please add your review.

https://cryptocanary.app/review/Bitflate

I want to highlight a recent review.

"Anyone has the right to make his own tech project as long as they don't raise money with their coins with public sales and with misleading promises.

So far Bitflate doesn't seem to be raising money and they don't seem to make any promises either (and being transparent about the fact that the coin is not secure and not for business application in its experimental phase). Seems like there is only 1 dev on this project, which has only a little github activity so far. Basically it's just a bitcoin fork with some tweaks, the most prominent one being the perpetual inflation of ultimately 7% per year (which means that over time any future bitflate economy would have to grow at least 7% per year for the prices not to fall). It also means that the supply would double each 10 years; I am afraid this will be a bit too much over the long term tbh for this coin to hold any value.

I noticed the dev also posted a review, transparently and well identifying as such, so all well on that front.

The information is rather limited on a very minimal site, no more elaborate whitepaper to make the case for this coin either.

Interestingly enough the founder chose to use the old Dutch guilder logo/sign for his inflationary "stablecoin", however, although the old dutch guilder was indeed a stable currency, its monetary policy in the past was to be as low as possible with inflation. Just a side note.

No hard feelings against this project and I wish the founder/dev good a lot of fun on their project, but personally I would not ever put any money in it tbh, all probably well meant intentions of the team aside."

My reply:

"Bitflate developer here. Thanks for writing this review. You really dig into Bitflate. The information is accurate.

Bitflate is my research, personal project. I have been working on it since early 2019, almost a year now. I want to incorporate inflation in crypto. I see a lot of scam and hype in this space, including with Bitcoin BTC. I avoid making financial promise of Bitflate. I want people to come to their own conclusion about whether they want to hold the coin.

I personally think it has potential. This is why I create it. Here is my personal take about its price prospect (not investment advice). Even though the coin will inflate at 7%, it won't create very many coins. For example, it'll take 10 years to create 30 million coins and almost 30 years to create 100 million coins. I partly keep reward halving to give more coins to early adopters. Inflation of 7% is still limited supply. If it succeeds, demand will likely be greater than inflation of 7%.

Long-term, it is supposed to be a transaction coin. But that future is far away. In that future, I think we can reduce value loss through interest saving account. Its inflation is fixed. The operation cost is in mining and account service. Theoretically, we should be able to redistribute the new coins minus opex to existing holders. I think it's a fair tradeoff for a decentralized stablecoin. Bitflate is experimental. As always, please do your own research.

I learn something new about Dutch guilder. I'm a software engineer. I put together the logo using Google Draw. I use a lower case f to emphasize inflation. I did not know about Dutch guilder, just coincidence."

Hi everyone,

Mining update: Bitflate just passed 70k blocks and 3.5 million coins in circulation.

Block: 70k
Supply: 3.5 million

70k block here:
https://explorer.bitflate.org/block/00000000000005fe0653cf7b41e38160dde2134c1c2fccd3a02a5cf6f9f1b9cf

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (10 million)
1: 25 (15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

Mining update: Bitflate just passed 80k blocks and 4 million coins in circulation.

Block: 80k
Supply: 4 million
Difficulty: 5M

80k block here:
https://explorer.bitflate.org/block/00000000000007f7709693f82eb7ef89cb5a11b200aab7ddb3cb2432fed91d6a

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (10 million)
1: 25 (15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

There's an opinion article on Bloomberg. It makes the case for adding inflation to cryptocurrency. Check out the Bitflate experiment. I think people will realize the usefulness of Bitflate.

https://www.bloomberg.com/opinion/articles/2020-02-21/bitcoin-s-future-as-real-currency-like-dollar-relies-on-inflation

I'm preparing a merge for Bitflate Core client 0.19. If anyone has C++ experience and interested in Bitflate, please help review the changes. In this patch, I fixed all of the failing tests.

https://github.com/bitflate/bitflate/pull/19/files

About to hit 90k blocks in less than 19 blocks!

Thanks iegservers. We just passed 90k blocks!

This crypto and equity crash shows the need for a crypto for transactions. Existing blockchains with capped supply are very volatile. DAI stablecoin is failing under volatility. I believe that our best shot of making a digital native stablecoin is Bitflate.

Everything is crashing, Bitflate is marching forward. :)

Block: 90k
Supply: 4.5 million
Difficulty: 5M

90k block here:
https://explorer.bitflate.org/block/00000000000001b106a5ace1c4dc661fa8f0e775f591c4c54ab04898209fa76c

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (10 million)
1: 25 (15 million)
2: 12.5
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

Thanks for sharing, the opinion of the article is really enlightening.

I wrote a new article about DAI, a prominent Ethereum-backed decentralized stablecoin: https://bitflate.org/post/2020/03/14/the-problem-with-dai.html

I've told others that it's not viable to create a stablecoin on top of volatile assets. A viable approach for a digital native stablecoin is to add inflation. That's Bitflate. Since it is digital native crypto, we won't be able to control its short-term price. But over long-term, its price will remain stable. This is the tradeoff we have to make for decentralization.

I wrote a new article: Bitcoin is a Store of Value

https://bitflate.org/post/2020/03/17/bitcoin-is-a-store-of-value.html

This is an article that pairs up with a previous article: Bitcoin Will Not Be a Medium of Exchange

https://bitflate.org/post/2019/11/24/bitcoin-will-not-be-a-medium-of-exchange.html

There's also a discussion in the Bitcoin section of this forum.

https://bitcointalk.org/index.php?topic=5233624.0

These articles explain the need for Bitflate, a crypto with constant inflation. We can use it as a Medium of Exchange.

I've created a new release for Bitflate Core client v0.19.0.1. See release details here:

https://bitflate.org/post/2020/03/27/bitflate-binaries-v0.19.0.1.html

Bitflate is recently listed on CoinDataFlow.com. They've got good data.

https://coindataflow.com/en/currency/bitflate

Hi everyone,

I wrote a new post about deflation.

The Coronavirus and A Deflationary Crisis
https://bitflate.org/post/2020/04/11/the-coronavirus-and-a-deflationary-crisis.html

This is why I think we need the Bitflate experiment with inflation.

Twitter has reminded me that @bitflate account is 1-year-old. It's been a fun ride. Follow me on Twitter for more updates:

https://twitter.com/bitflate/status/1250599403884212224

The Bitflate blockchain has reached 100k blocks!

Block: 100k
Supply: 5 million

100k block:
https://explorer.bitflate.org/block/00000000000001e34e2bfd8eaed52bbff3e81b6340bb350594f7d3aaad1ac1b2

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (~10 million)
1: 25 (~15 million)
2: 12.5 (~18 million)
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

We will not see the 50-coin block reward in more than 30 years.

I modeled the reward schedule in this sheet: https://docs.google.com/spreadsheets/d/1tdRWdqc0I9uMASXp-zY8TnVhoiTJUd-NIEnQrAl_3Lg/edit#gid=0

Hi everyone,

I wrote a new article about the role of inflationary cryptocurrency in this crisis. Here's the discussion post:

We Need Inflationary Cryptocurrency
https://bitcointalk.org/index.php?topic=5243786.0

The Bitflate blockchain has reached 110k blocks!

Block: 110k
Supply: 5.5 million

110k block:
https://explorer.bitflate.org/block/0000000000000917d93fd5e883bd53c2be045c084fd98e8f6aa0acb1fd7240fd

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (~10 million)
1: 25 (~15 million)
2: 12.5 (~18 million)
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

We will not see the 50-coin block reward in more than 30 years.

I modeled the reward schedule in this sheet: https://docs.google.com/spreadsheets/d/1tdRWdqc0I9uMASXp-zY8TnVhoiTJUd-NIEnQrAl_3Lg/edit#gid=0

So good, crypto have inflation but is controled ETF is printing billion of fiat money and crypto we know all the amount that is being created and circualting, well done for bringing that.

Hi everyone,

More people are discovering Bitflate. Check out this thread on Twitter.

https://twitter.com/JacobBarnette/status/1264595838992605185

 :)

Mining Update. The Bitflate blockchain has reached 120k blocks!

Block: 120k
Supply: 6 million

120k block:
https://explorer.bitflate.org/block/00000000000001fe6f9fd500d2d83313656c98f643b3f9bf16c7473b6630298b

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters. Still plenty of time to get coins before we reach 10 million coins.

0: 50 (~10 million)
1: 25 (~15 million)
2: 12.5 (~18 million)
3: 6.25 (end of halving)
4: 6.56 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85 (30 million)

We will not see the 50-coin block reward in more than 30 years.

I modeled the reward schedule in this sheet: https://docs.google.com/spreadsheets/d/1tdRWdqc0I9uMASXp-zY8TnVhoiTJUd-NIEnQrAl_3Lg/edit#gid=0

where is the mining pool for this coin? I see this coin is in Coingecko, but only has a value of 1satoshi and that too in the Unamed market. This is very unfortunate

I use mining-dutch pool.

https://www.mining-dutch.nl/

There's another pool.

http://bitflate.cminors-pool.com/

Mining Update. The Bitflate blockchain has reached 130k blocks!

Block: 130k
Supply: 6.5 million

130k block:
https://explorer.bitflate.org/block/0000000000000433e27d4f4798ac36cf7be34d4896ad05c36db15ee791e956c0

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

The Bitflate blockchain has reached 140k blocks!

Block: 140k
Supply: 7 million

140k block:
https://explorer.bitflate.org/block/000000000000006db9b8274bc5a78269be6fd33755b6770eed99ff918ba6a9e3

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

Hi Bitflate users,

There's a new release of Bitflate Core client v0.20.0. You can download and upgrade your client here:

https://bitflate.org/post/2020/07/25/bitflate-binaries-v0.20.0.html

The Bitflate blockchain has reached 150k blocks!

Block: 150k
Supply: 7.5 million

150k block:
https://explorer.bitflate.org/block/000000000000010393918248c58261b575e3729ff3404975ff1347e32b437981

Reminder: Bitflate reward will halve from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

The Bitflate blockchain has reached 160k blocks!

Block: 160k
Supply: 8 million

160k block:
https://explorer.bitflate.org/block/0000000000000339f3472b5646cbf5690d34ab5fbe82fcf3a55d0c3d6119708f

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

The Bitflate blockchain has reached 170k blocks!

Block: 170k
Supply: 8.5 million

170k block:
https://explorer.bitflate.org/block/000000000000078017e9f032630854fd34d2c84b8c25d997c34cd7c266df9a75

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

Hi everyone,

I wrote an analysis of cryptocurrency from the Yi Ching point of view. Yi Ching is an ancient Chinese philosophy. I think it can inform us of design tradeoffs for cryptocurrency.

https://bitflate.org/post/2020/08/24/yi-ching-and-cryptocurrency.html

Bitcoin is deflationary. This property makes Bitcoin volatile. Yi Ching points us to a way to address this shortcoming: inflation. This is an inspiration for me to design Bitflate, a cryptocurrency with 7% inflation.

The Bitflate blockchain has reached 180k blocks!

Block: 180k
Supply: 9 million

180k block:
https://explorer.bitflate.org/block/000000000000070477546e34b992c8c3ed0373ff1b6ada00d8fd7da083e23853

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

Hi everyone,

Bitflate is listed on Coinlore. Check it out if you want to trade your BFL coins. As always, please do your own research.

https://www.coinlore.com/coin/bitflate

Thanks.

The Bitflate blockchain has passed 190k blocks!

Block: 190k
Supply: 9.5 million

190k block:
https://explorer.bitflate.org/block/00000000000000e1b4f51dff867b11212b3c101af7950e031dbc2e7fa4510250

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

Hi everyone,

We have a new release for the Bitflate Core client, v0.20.2. This is a required upgrade. In this version, we changed the pchMessageStart parameter. This change prevents Bitflate clients from connecting to Bitcoin clients. But it also prevents connection to older Bitflate clients. Please upgrade your client to get new blocks. Instructions for upgrade.

https://bitflate.org/post/2021/01/24/bitflate-binaries-v0.20.2.html

Hi everyone,

We released the Bitflate Whitepaper. In this paper, we describe:

- Why the market needs an inflationary cryptocurrency.
- Design of Bitflate.
- Design of an Elastic Monetary System.
- How this system can achieve Digital Cash.

https://bitflate.org/bitflate.pdf

I came across a Twitter thread about Bitcoin's volatility. It's worth reading through it and the responses. Most bitcoiners are still disillusioned about volatility. They think Bitcoin's price will stabilize at "some" point in the future. But it's likely that Bitcoin's volatility is inherent. The fix for it is inflation. That's why we need Bitflate.

https://twitter.com/jp_koning/status/1371497062299230219

"The price of bitcoin is inherently volatile." @jp_koning

The Bitflate blockchain has passed 200k blocks!

Block: 200k
Supply: 10 million

200k block:
https://explorer.bitflate.org/block/0000000000000231684611e46e5b3fc5cefd92234a7c6100b3b6d52d9c28b2ac

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It is designed to give more coins to early adopters.

I have been looking for a list of inflationary crypto's but you can't just type in "list of inflationary cryptocurrency" and find anything.  So I was happy to stumble on Bitflate on MiningDutch.  Inflation is the way, what people especially miners need to realize that each year forever you can compete for a chunk of 7% of the current supply of a coin.  This puts miners in a great position to capitalize.  Miners should favor inflationary cryptos!

I am a sha-256 ASIC miner.  But ASIC's have a strong opportunity cost, I can make $5 a day mining BCH on an ASIC.  Wouldn't it be neat if you could mine Bitflate on your laptop or PC in the background or while you sleep, with a very low opportunity cost?

Yespower is a "new" algorithm and has proven itself to stay GPU and ASIC free for multiple years now and successful coins like Yenten use it.  It fulfills Satoshi's goal of 1 CPU = 1 Vote.  The creator makes updates to the algorithm to keep it GPU proof and will likely also update it if an ASIC is built to obsolete the ASIC (if we choose to update to that, or we could allow the ASICs).  Even if we allow ASICs, the ASICs will be made to mine Bitflate, and Bitcoin ASIC's would not be able to mine/attack Bitflate.  ASIC's being built for an algorithm make the price of a coin that uses that algorithm go up, somewhat strangely.  I think because ASIC's allow miners to scale easier...it is easier to buy a few ASICs and get ahead of the competition than a dozen servers.

Anyhow I suggest we change the algorithm of Bitflate to Yespower.  This way all of us can mine for very little cost/opportunity cost and secure the network against rogue Bitcoin miners who want to attack the network.  The only way a Yespower coin can be attacked is with large rented hashpower from something like Amazon AWS and that costs a lot.  An army of laptops can secure against that pretty well too.

Yenten looks like a small coin. Its market cap is currently 217k. I don't think it's considered proven. But I don't mind supporting a hard fork with Yespower, like BitflateYes, if there's enough community support. I prefer hard-forking the blockchain to benefit existing coin holders.

Another thing that coins do including bigger coins like Myraid ($15m) is include Yespower as a proof of work option among other options.  This allows people with multiple types of hardware to mine, however the downside is each certain algorithm splits the pie so miners of a certain algorithm won't necessarily profit as much on a coin that supports multiple algorithms.  I think the reason Myraid gets lots of miners is it is merge mined in addition to multiple algorithms.

I am a supporter of the idea of BitflateYes fork, if that is what you want to do.  Also just a hardfork without a split in the chain will also work to benefit current coin holders, and people would just switch to mining Yespower for the future for Bitflate, there aren't many sha-256 miners on Bitflate anyways.

Less than 2 weeks left before the first halving!  Get in now on Mining Dutch Sha-256

"yespower in particular is designed to be CPU-friendly, GPU-unfriendly, and FPGA/ASIC-neutral. In other words, it's meant to be relatively efficient to compute on current CPUs and relatively inefficient on current GPUs. Unfortunately, being GPU-unfriendly also means that eventual FPGA and ASIC implementations will only compete with CPUs, and at least ASICs will win over the CPUs"

https://www.openwall.com/yespower/

I found this quote in Yespower FAQ. Yespower isn't truly ASIC resistant. Eventually, ASIC will replace CPU mining for Yespower.

The Bitflate blockchain has passed 210k blocks! We had our first halving!

The reward is cut from 50 to 25. We're still early. The reward will halve 2 more times (12.5 and 6.25) before inflation starts.

Block: 210k
Supply: 10.5 million

209999 block:
https://explorer.bitflate.org/block/00000000000002adb5fae7fe02cafaf3754f0e2d633e83204c569832c1033bcd

210000 block:
https://explorer.bitflate.org/block/000000000000018f535df9a66bd7afe605221cc9dc5c77d1e783b30ab0090fcf

Reminder: Bitflate is a crypto with 7% inflation. For the first 3 epochs, rewards will halve. The first halving happened on May 11, 2021. The next halving is from 25 to 12.5 at 420k blocks (~15 million coins). It is designed to give more coins to early adopters.

The Bitflate blockchain has passed 220k blocks!

Block: 220k
Supply: 10.75 million

220k block:
https://explorer.bitflate.org/block/000000000000002c3e8230a19a6f2949e47b41ae6f2fdebc0d2a65c3a9e4ff2e

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It happened on May 11, 2011. The next halving will happen at 420k blocks. The schedule is designed to give more coins to early adopters.

Hi.

Just started mining this week (yeah, after the halving: bad timing or what!).
Throwing around 30 TH/s at the network for around 13 hours a day, so hoping to build up quite a bundle of BFL.

I notice that the block difficulty reduced from 6M to 3M this week. Is this a regular thing and will it continue?
It puts BFL profitability to the top of the Sha coin tree and will only increase interest, so it's a great positive imo.

Cheers and keep up the good work.
Looking forward to seeing how we progress when inflation begins.

Welcome, bitflate dev here! Thanks for the interest. Most Bitflate's parameters are the same as Bitcoin. Block difficulty adjusts every 2016 blocks. It changes depending on how fast the blocks are mined. It went back to 6M now.

We're in the 2nd era with 25-coin block rewards. It'll halve 2 more times (to 12.5 and 6.25) before inflation of 7% starts. This bootstrap scheme creates scarcity.

You can trade BFL coins on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Beware of this exchange. I've heard complaints about them.

The Bitflate blockchain has passed 230k blocks!

Block: 230k
Supply: 11 million

230k block:
https://explorer.bitflate.org/block/00000000000004bd54748bf56204a651768db1c455274aa21bdf32180f182aa8

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It happened on May 11, 2021. The next halving will happen at 420k blocks. The schedule is designed to give more coins to early adopters.

Hi everyone,

Bitflate is listed on more coin listing sites. We're increasing our web presence!

https://coincost.net/en/currency/bitflate
https://www.coinlore.com/coin/bitflate
https://coinmomo.com/coins/bitflate
https://blockspot.io/coin/bitflate/
https://beincrypto.com/convert/bitflate-to-usd?amount=250
https://cryptopro.app/price/bitflate/

Another listing site added Bitflate: https://www.coinmarketleague.com/coin/bitflate

Thank you for your reply.
With the question marks over Unnamedexchange, are you actively looking to list on other exchanges?
I've had a good experience with Tradeogre and Coinex.
With the drop in difficulty this week, you'll be able to announce passing 240k shortly.

I've received emails from several exchanges. There're so many of them. And they all want listing fees. Exchange doesn't seem to be a big pain point right now. I think we still need more trading volume. But I'm just a dev. I relay messages to the community. I don't and can't make all decisions.

The Bitflate blockchain has passed 240k blocks!

Block: 240k
Supply: 11.25 million

240k block:
https://explorer.bitflate.org/block/0000000000000314ff94b58e7c0f4ebe3e1be71327cd7de843913c20ba8baa0c

Reminder: Bitflate is a crypto with 7% inflation. But for the first 3 epochs, rewards will halve. The first halving is from 50 to 25 at 210k blocks (~10 million coins). It happened on May 11, 2021. The next halving will happen at 420k blocks. The schedule is designed to give more coins to early adopters.

It's now passed 250k blocks.
Got me 60,000 of these bad boys so when the price overtakes Bitcoin all will be well.
Lol.

Wallet not synced since August 31st.
Care to comment, dev?

Looks like blocks are not moving much recently. I guess the general market is bullish so mining rigs are expensive now. I suggest waiting a few days for blocks to move regularly again.

I mined a few blocks to get it moving again. But it looks like it's just me trying. Next difficulty adjustment should be large.

I recently did an interview with BitCourier about Bitflate. BitCourier is a Bitcoin and crypto news website. Check out the interview on their website:

https://bitcourier.co.uk/news/bitflate-interview

We've published a new article!

Including Bitflate in the Conversation for Pegging the USD to BTC

https://bitflate.org/post/2021/11/27/including-bitflate-in-the-conversation-for-pegging-the-USD-to-BTC.html

We've published a new post on bitflate.org. It is a guest post from the commodity.com team. Check it out!

Why Fixed Supply Tokens Can't Become True Currencies

https://bitflate.org/post/2021/11/27/why-fixed-supply-tokens-cant-be-currencies.html

Bitflate is now trading on exbitron.com!

Check it out:

BTC: https://www.exbitron.com/trading/bflbtc
DOGE: https://www.exbitron.com/trading/bfldoge

Yes, Bitflate is now trading on exbitron.com exchange! Thanks the community for the support.

Hello everyone,
I'm not sure that the Bitflate (bfl) is run by good people. I sent the following message to the email address given on their site:


As of today, October 29, 2022, I am still waiting for the answer sent on contact@bitflate.org and unnamed.exchange appears on the page https://bitflate.org/exchange/

Titi