What does knowing who I really am do for the coin do but hurt it? That is the question... I have no say and/or control. And I like it that way...
I hope for a large dev team to take over FLT one day and let me retire LOL
You do know this is not an unrealistic scenario if you play your cards well, right? But it's way too early to take your foot off the gas if you want to see that happen. Oh I know lol not anxious to take my foot off the gas either LOL |
|
|
|
|
What does knowing who I really am do for the coin do but hurt it? That is the question... I have no say and/or control. And I like it that way...
I hope for a large dev team to take over FLT one day and let me retire LOL
|
|
|
|
it doesnt surprise me that the price goes down since the devs are anonymous ,look at blackcoin and their transparency
Devs are worthy of our recognition with what they've done and posted so far, don't think we need any personal infos about them... I should reveal myself so some loon can come to my door because they're angry and I have to shoot a guy? Um no thanks. Satoshi being anonymous surely hurt bitcoin... Lol |
|
|
|
it doesnt surprise me that the price goes down since the devs are anonymous ,look at blackcoin and their transparency
Devs are worthy of our recognition with what they've done and posted so far, don't think we need any personal infos about them... I should reveal myself so some loon can come to my door because they're angry and I have to shoot a guy? Um no thanks. |
|
|
|
Not much movement although halving is near?
Probably because the last two halvings did little if anything to slow down the multipool dumpings. Maybe this time it will be different, and the floor of the coin has inched up a little bit over past couple days. But it really couldn't have gone much farther down either, so there's that too. Why do you keep insisting on this? There were only 900k FLT generated each day this week - that's roughly like 10BTC each day at this price - yet volume is like 250 BTC. Multipools DO NOT mine anywhere close to 900K flutter each day. Saturday there will be 450K flutter generated each day. Basic math. Couldn't have gone down much further? it was 150 a few weeks ago LOL No ones dumping, the price is steady, there is nothing wrong. Once a few things happen that I will not divulge, the market should react. |
|
|
|
Whats up with the multipool? I only got 261 coins for 24 hours of mining yesterday with 2.1 m hash. I can get 600 coins with same hash on a pool in 24 hours. I may use the multipool later on when the blocks are halfed to almost nothing but for now, gonna stick with a pool.
I saw the same thing, I'm mining it directly. Stealing flt from others who would dump it helps in my mind. But we aren't keeping up on the Multipool currently. One thing is hashrate, if we cant get this to the 1ghs range, its not going to be able to compete with other pools. The higher the hashrate the more flt will rise because we have more volume buying. Problem is we are leaving the pool, but we need to add hash for it to work properly but we can't do that when you can mine flt directly and make more. Hopefully this will adjust in the next few weeks. Once they release it as "production" and announce it, hashrate will go up I hope. Its still beta. Mining FLT directly will be harder tomorrow when the reward drops to 625 |
|
|
|
How does this POS work?
Do you need to keep your coins @ your own wallet for period of time?
What if you keep your coins @ cryptsy og mintpal?
Keep your coins in your own wallet and wait 30 days for POS. I guess if people keep their coins on exchanges it just POS in the exchanges wallet. nah they don't keep those wallets live... its just a keypair... |
|
|
|
|
Your not going to get 25K FLT every day LOL it all matters coin age, weight, etc. Thats why its a minimum 5%. Where as say Peercoin is a minimum 1%.
|
|
|
|
when POW ends?
End of the world i read in first page of this thread (200 million coins will be produced through POW) Yep, 200 million is like I think 10 years in total, but even venturing out further, your not adding much if any PoW inflation |
|
|
|
I think they have a lot of potential for the future...
you are the Dev of FLT? all depends on what you need  |
|
|
|
|
I think they have a lot of potential for the future...
|
|
|
|
when POW ends?
See for yourself: Block Explorer / Crawler Official http://explorer.fluttercoin.us/SPECIFICATIONS Scrypt Algo Earn Flutter Coins through Proof-Of-Work, Proof-Of-Stake, or Proof-of-Transaction mining. There is no maximum number of coins, though roughly 200 million coins will be produced through POW BLOCK REWARDS Block 1 - 3263: Random 500 5000 (1 minute blocks) Block 3264 - 22000: Random 1000 10000 (Begin 2 minute blocks) Block 22001 - 34750: Static reward 5000 Block 34751 - 39791: Static reward 2500 Block 39792 - 44832: Static reward 1250 Block 44833 - 49873: Static reward 625 Block 49874 - 54914: Static reward 312.50 Block 54915 - 59955: Static reward 156.25 Block 59956 - 64996: Static reward 78.125 Block 64997 - 70037: Static reward 39.0625 Block 70038 - 332838: static reward 20 Halving every 262800 blocks I don't understand these numbers, how many days? No you just dont want to understand. Simply reading FTW. There is no maximum number of coins, though roughly 200 million coins will be produced through POW So its not limited in Terms of days. Just reward halving till nothing is left. approximately... at the current hashing rate... how many days left? A lot LOL as long as the internet exists |
|
|
|
when POW ends?
End of the world |
|
|
|
|
Miners can't dump much each day - each week that # dwindles....
PoT will soon run on many PoW blocks, just at a lower % of the PoW reward to account for the increase in quantity.
Things are looking up
|
|
|
|
I got one PoT reward in March, and that's all. It's very hard to get PoT, you should be extremely lucky. This is the reason I don't understand why some people praise it so much. Yes, theoretically it's great, yes, it's a new feature (and I like innovations), and yes, you might catch this PoT... some day, somewhere, somehow... but in general for me personally it's almost non-existent and unimportant.
As of now I'd give more praise to PoS than to PoT because PoS can bring you a real profit while PoT is just a lottery with a small prize, and this prize will get lower and lower with block reward halving because PoS gives you 50% of the current PoW block reward. Let's say, If you could possibly win a $10 prize once a year would it really matter to you?
I'd like to see PoT given some kind of sliding scale so that every transaction can pay back a tiny amount (even if it's just barely a few satoshis or fluttaishis or whatever) or you can elect to notch it up to larger payouts that are more and more random. That way if you want to take chances for fun, sure go for it and set it to 2500 FLT at max odds, or set it to 1 FLT at guaranteed odds - in both cases the minimum Xfer to qualify should be appropriate as well, i.e. the 1 FLT payout requires 100 FLT transfer. I realize that PoT is basically a kind of one-transaction-at-a-time iterative mining process so the randomness of PoT rewards is derived from the natural randomness of mining a block. Given this, a PoT peer to peer reward pool might need to exist to take large PoT rewards and pool them into payout streams in order to make PoT 'feel' more like a reward system and less like a lottery for those who aren't really into the chance reward concept (which I suspect is most people). I agree with this statement that the PoT system needs to change to make it actually useful. I understand the concern about bots creating wallets and sending transactions back and forth 24/7 to trigger the PoT if it were made easier, but couldn't having some kind of Captcha recognition built in to mitigate that scenario? No - PoT is determined by the mined block, and also this would eliminate all transactions originated via merchants. But likely it will be made easier after the rewards drop - but the reward for PoT will also drop in turn - and the minimum transaction value will stay particularly high so transaction fees will eat up any potential rewards via automated systems. Also, PoT usefulness is more than the reward's its more about security. Perhaps you need to think of decoupling the PoT from the mined block...allow for more frequent rewards based on transactions so that it can gain more support to actually be used as a currency. If PoT were made more attractive, there'd be no reason not to use FLT like a currency and spend/receive. There is no other coin offering this benefit, but the way it is designed right now is not very effective for gaining interest in using it as a currency. In it's current format, it's way over hyped since so few ppl even receive a PoT reward... I get what you are saying and agree that PoT is in need of some kind of rethinking to make it more generalized so that it is attractive to users for spending. But I don't think PoT can be decouple from mining because PoT *is* a form of mining. The reward comes from the same place (and is subject to the same randomizing factors) that mining rewards come from - the 'mining' of a block. And recall that mining's main purpose is to secure the blockchain by confirming transactions, the minting of coin (and distribution of it in the form of block rewards as compensation for the cost of transaction processing and keeping a costly full node running to bolster the network) is a secondary function. PoT is basically mining, but driven by transactions. You can think of PoW as non-stop mining, while PoT is iterative, mining a tiny bit on every transaction. PoT, like PoS, is first and foremost intended to decentralize the network away from dedicated mining by offloading the work of transaction confirmation processing from dedicated mining rigs and spreading it out to edge users and wallets. PoS staking interest, like PoT rewards, is a form of compensation for keeping a node open to support the network (PoS) and using the coin to drive the economy the network supports (PoT) In that sense it goes even farther toward the goals of "ASIC resistance" and decentralization than any of these new PoW algos like Scrypt-N and X11, Jane, etc. Those algos merely put up passive barriers to slow the ASIC army's advance, whereas PoT and PoS actively starve it into submission. I think the problem with PoT is the message - it is very confusing at first, and it can turn off a lot of people because the way it is presented sounds like it either won't work (and cannot be readily tested to prove it does), or even if it works it won't matter in any meaningful way. What does Butterfly Effect actually mean in real terms of benefits to users, or miners, or investors or even merchants? A narrative focusing on very random and rare (and thus 'unbankable') PoT rewards is not going to get many people excited once they see how unlikely it is they will get one (especially as the rewards get miniscule with every block having). But crypto people have a strong interest in making sure networks stay decentralized, just look at all the energy and effort and ink being used on ASIC resistance. It's a huge, huge topic for us. Which is great because decentralization is what PoT actually does well.
Explaining that PoT is another arrow in the decentralization quiver will be much better received than saying you might randomly get a small amount of free FLT, because enthusiasm for this quickly turns to a cynicism once the whole story comes out about how rare that free payout actually is. Or better yet, rethink the whole concept of PoT to make it much more spectacular than it already is. If, say (just spitballing here), all PoT rewards accrued to a secured escrow "network owned" wallet somewhere and that wallet built up a large pool that randomly paid out like an actual lotto jackpot, people would get very excited about that because they can relate to huge rewards that are extremely rare much more than small rewards that are kind of rare. Good points... this is why I am making PoT less rare, but at the same time harder to "game". Wan't it to be nearly all PoW blocks, pay less (but really pay much much more over the span of say 200 blocks than it would at the 50% reward split now) |
|
|
|
|
Again - great ideas, but no one does anything... Unless people want to start paying me, I have very little time for hitting the airwaves so to speak. If everyone is so worried about the exposure the coin is getting, do something about it. Its a community effort.
With regard to PoT - its surely works, and its easily verifiable.
To see PoT rewards, check your debug.log for the entry proof-of-transaction - and do a getblockbynumber in that block. You will see the split reward, you will see the PoT flag, etc.
To see PoT security, what you see is what you get. We have had many 51% attacks intentional and unintentional - we are still here.
I am toying with modifying PoT to have it occur nearly every PoW block, but payout will be obviously considerably lower than the current 50%. Security in limiting abuse will also be tightened. Even now someone could setup a million wallets sending to a million addresses inside of millions of Tx's, and they would simply loose money as only 10 transactions and 10 addresses inside each transaction (truncated to 5 if there is over 10) are considered for PoT rewards. Few more security items as well to be added that I will not go into.
When the frequency is upped, and the above abuse restrictions are tightened, someone trying to abuse the system would be throwing money away because of transaction fees, without much chance at all to earn.
Official details will be posted as soon as I'm finished sometime this week, the fork to make these changes take effect will likely then be 2 weeks out from that date of release.
|
|
|
|
|
Thank you for listing Fluttercoin, great site and features will help us a lot
Thanks!
|
|
|
|
Can someone enlight me about POT, if I send all day long my flutter to my wallet I have a chance to mine some by FLT? whats the % chance?
Thanks
not good... LOL |
|
|
|
|
Show Posts
