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It will go something like this, but its really 5040 blocks I think per week, doesn't matter though:
50,000,000.00 5000 2 weeks
12,500,000.00 2500 1 week
6,250,000.00 1250 1 week
3,125,000.00 625 1 week
1,562,500.00 312.5 1 week
781,250.00 156.25 1 week
390,625.00 78.125 1 week
195,312.50 39.0625 1 week
5,256,000.00 20 1 year
2,628,000.00 10 1 year
1,314,000.00 5 1 year
657,000.00 2.5 1 year
328,500.00 1.25 1 year
164,250.00 0.625 1 year
85,152,437.50 future mined coins
138,031,488.00 current mined coins
223,183,925.50 total estimated coins
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I personally think 7 days is very short. There are people with millions of coins now, and newcomers will get too few coins and getting annoyed about that. Nethash may drop strongly, we dont want that. At least I dont belive you could manipulate the price with this. But who knows. Just give this great coin some time, it stands for itself. I really like how you want to make it still better but please decide wisely.
On the other hand, as an early adopter iŽd like less total coins too.
They would still have a chance... Thing is we started at 5K max reward - random rewards (500 - 5000) @ 1 minute Then we moved to 10k max reward - random rewards (1000 - 10000) @ 2 minute blocks Now we are at 5000 static with 2 minute blocks Dropping to 2500 in 2 weeks isn't a bog stretch IMHO Then dropping every week after until it levels out. |
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Maybe we fork in 2 weeks to halve every 7 days for a few months ?
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i still think if the coin paid out much less on a PoT, but it happened much more often, you would have people getting interested in it more. it would have the positive reinforcement effect that a slot machine has.
i know it's not feasible in the code to do it that way, but it would really work if it was possible.
It could be done and it would likely be nearly every block. Reward would have to be very small |
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There is going to be a big pump of FLT getting BIG rumours of a russian team that pumped MINT and FAC. It would be best to buy more as they poured in 30BTCs in Mintcoin and 50BTCs in FAC increasing it 6 fold. Check out my posts to see how legit i am. Where i go the money goes.
This is true, been hearing whispers of a pump |
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i think the number of coins is way more exact now that the block has gone static. when what you read was written, was when the reward was in a random range. so, it's outdated info.
Cool, I hope it gets updated. So what is the max number atm? Like 2.6 billion max ATM but less because of POS (POS blocks count towards the block count) |
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I don't know, I think its a pretty fast change. However, bitcoin had a slow decrease over time because it kind of needed to, since it was the first coin. With so many people knowing about crypto already, it may be okay to accelerate the rate of decreasing reward.
I don't know of any coin that has attempted this, so there's no reference point on which to base the decision.
Cryptos have so many variables, who really knows how it would play out.
CGB did it, all initial coins were mined in the first year. Started at 10 reward, then halved I think every month or two. The halving if the reward didn't start until roughly 1 - 2 months after launch |
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Ignore my block math it's roughly 5k blocks per 7 days and 10k blocks per 14 days
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If the change in reward is too drastic, people will accuse the coin of being essentially premined.
I think a linear decrease is good but we need more early adopters to really want to back the coin. Too fast a decrease will stifle the number of people that want to get in on the ground floor.
I personally think the way to go is to decrease rewards every 7 days or 14 days - to ramp down production and still allow mining on a higher reward system for a while. So, here is my rough plan - and this will be the final protocol change hard fork save for possible stake changes down the road which can be done via soft forks I think. Preliminary (based on 7 day reductions): Block 33,000: reward 2500 Block 35,500: reward 1250 Block 38,000: reward 625 Block 40,000: reward 312.50 Block 42,500: reward 156.25 Block 45,000: reward 78.125 Block 47,500: reward 39.0625 over Block 50,000: reward 20 halve the reward every 1 years afterwards Preliminary (based on 14 day reductions): Block 33,000: reward 2500 Block 38,000: reward 1250 Block 43,000: reward 625 Block 48,000: reward 312.50 Block 53,000: reward 156.25 Block 58,000: reward 78.125 Block 63,000: reward 39.0625 over Block 68,000: reward 20 halve the reward every 1 year afterwards |
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wondering if instead of p.o.s., what would it be like if the inflation came only from p.o.t.
that would be quite interesting...
can you imagine no p.o.s? only a reward system that would be active for p.o.t. users. then it would only reward users for spending their coins. thought that was an interesting idea. something about leaving the wallet unlocked for the pos feels too unsafe.
I had a dream during my nap that i want to share..lol
basically it was our fluttercoin, which was the first coin to not rely on exchanges. You could openly trade bitcoin / litecoin on our wallets. LOL. the idea basically was based on P.O.T. but there was an exchange infrastructure which was funded by all the transactions going back and forth from all the flutter users. I don't quite remember the details but I thought it was a fun dream. haha
yo seattle, let's share what our fluttercoin rigs look like. show me yours and i'll show you mine!
Can't be done unfortunately, there would be no incentive for the network to run... |
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Does it make sense to let the wallet running & unlocked 24/7 for PoS minting?
Yep, unlocked for minting only |
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kidcoin you're doing your thing and I support you. Much appreciated for all your hard work.
My express of thought is not an attack on anyone. It's to share my thoughts and get a feedback from the community to see if we can spark up some ideas to get something going.
Wasn't referring to you FYI lol Your ideas are what I've been thinking for a while now pretty much |
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What it it decreases a little with each block? Linear decrease
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I have been actually thinking of forking the coin so that it halves every month for the first year then halves every year after.
Or dropping the reward to 50 or 100 and halving every 2 years or something.
It would only help the coin and investors.
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i think we have to remember that adoption and use is way more important than price. and, just because the price on bter was really high at the beginning, doesn't mean that's the price is was supposed to stay at. if the price started and hovered around 200 satoshi, we would all be saying the coin is pretty stable.
it just takes time, we will need more people to join the coin. can't rush it, just promote it to other people and let them know about proof of transaction.
People also need to remember that it's not my job to spend my own money and time 24/7 on this project. I continually get nasty emails and pm's at 3am with people demanding this or that, or like that guy writing a novel - if they have such grand ideas - implement them. But he has nothin. Coin been around for what, a month? This coin is far more innovative than 99% of coins. Maybe a ridiculous name and slogan is what we need. |
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Working on some improvements to make it easier to view the status of POS minting.
Would you please help me understand what are the exact rewards for POS minting and what's needed in order to mint? May be also put it in the op, so it's easier for newcomers to come on board  For the moment I am keeping my flutter on bter mainly because of lack of information. You need to do nothing other than run yoru wallet and make sure its either unlocked, or unlocked for minting only. |
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i keep stucking at block 15553 any idea how to sync the wallet?
1) delete ALL files except wallet.dat and fluttercoin.dat in %appdata%\fluttercoin (including peers.dat) 2) make sure your running the latest binary v0.4.5.4 3) run it it will not download from nodes stuck at 15553, will ban said nodes, and will disconnect said nodes. Its not possible to get stuck on that fork with this version and a clean data directory. |
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Thanks. Let me add to front page and website I keep forgetting... |
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Working on some improvements to make it easier to view the status of POS minting.
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Sorry if this was asked previously but im confused about PoS again... Peercoin says you have to leave the wallet open and unlocked all the time to mint. Mintcoin for example says you have to open the wallet only sometimes to catch the minted coins. How do Fluttercoin work here? Have the wallet to be open all the time to mint?
You can unlock for minting only by running: walletpassphrase <passphrase> <timeout> [mintonly] for example: walletpassphrase mypassword 604800 true if my wallet is not password protected, will i mint without having to do anything? Yeah you don't have to do anything, coins just have to be at least 30 days old (in your wallet). I have a bunch I am going to stake in a few days when it is available for me (I moved a lot of my coins around) |
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