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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending
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on: April 25, 2014, 06:00:32 PM
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With POT, what stops someone from having two wallets and setting up a bot to constantly transfer 500FLT back and forth 24/7 between the two wallets and thereby greatly increase the chances of landing the POT bonus?
This is what was posted earlier in the thread: What is to stop several of us getting together to send coins back and forth, trying to get a PoB? First, going forward it is refereed to as POT (proof-of-transaction) 2nd, its not that easy to achieve a match - if you send 100 transactions your odds are slim. 3rd Only the first match counts 4th it will not be active for POS or adjacent POS blocks (which will make it rarer) 5th its only active on blocks with a small number of TX's 6th in the next release, that will be fine-tuned even further to look within each TX I am positive people have been trying this already as well... I am also thinking of changing the reward structure as years go by etc If anything has changed Kidcoin can elaborate further. I think it should be posted on the first page b/c this question comes up all the time. thanks for the info, so based on the above, in all likelihood, you're more likely to get more coin via PoS than PoT? I thought PoT was the big innovation here, but it sounds like it will be very difficult to achieve the bonus. Sounds like PoT may be getting over hyped then? Isn't this coin expected to be 100% PoS at some point, so point 4 would render PoT useless? Just trying to get some more solid answers before investing further into FLT. Thanks! I don't know if it was ever claimed that PoT would give you more coins by using them than you would get from PoS for saving them, and I don't see why it would matter if you are more likely to get more coins by PoS than through PoT. Either way, PoT still offers some incentive to use the coin as opposed to a pure PoS system which does not provide any such incentive. I view them as opposing forces, although the incentive from PoT may not be strong enough to overcome the inventive provided by PoS it still shifts the equilibrium in favor of spending. are there any calculations as to how many transactions you would need to make to have a really good chance of landing a PoT block? pt 2 says that 100 transaction would give a 'slim' chance. At 500FLT per transaction, that's alot of coin you'd have to be transferring...
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending
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on: April 25, 2014, 05:04:16 PM
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With POT, what stops someone from having two wallets and setting up a bot to constantly transfer 500FLT back and forth 24/7 between the two wallets and thereby greatly increase the chances of landing the POT bonus?
This is what was posted earlier in the thread: What is to stop several of us getting together to send coins back and forth, trying to get a PoB? First, going forward it is refereed to as POT (proof-of-transaction) 2nd, its not that easy to achieve a match - if you send 100 transactions your odds are slim. 3rd Only the first match counts 4th it will not be active for POS or adjacent POS blocks (which will make it rarer) 5th its only active on blocks with a small number of TX's 6th in the next release, that will be fine-tuned even further to look within each TX I am positive people have been trying this already as well... I am also thinking of changing the reward structure as years go by etc If anything has changed Kidcoin can elaborate further. I think it should be posted on the first page b/c this question comes up all the time. thanks for the info, so based on the above, in all likelihood, you're more likely to get more coin via PoS than PoT? I thought PoT was the big innovation here, but it sounds like it will be very difficult to achieve the bonus. Sounds like PoT may be getting over hyped then? Isn't this coin expected to be 100% PoS at some point, so point 4 would render PoT useless? Just trying to get some more solid answers before investing further into FLT. Thanks!
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
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on: April 19, 2014, 05:31:07 PM
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Anyone know if our multipools were mining Whitecion at anytime?
I heard they were and possibly are right now, but they have crazy hash raping it right now. That is what they get for pumping shitcoins o this forum.. he he The Death Star spares no coin it would great if we were to show this copycat who's boss! Before BC pretty much all alts were based on hype. WC is entirely based on hype. When the hype deflates, so does the price. Good for short term play to get BTC to get more BC though. whats the hype based on, it's almost an exact copy of BC but with no community and just a bunch of pumpers
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259
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Alternate cryptocurrencies / Altcoin Discussion / Re: What's the next Blackcoin (POS coin, smart mining multipool)
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on: April 13, 2014, 03:44:34 AM
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Blackcoin (BC) is a master-scam as the creators instamined the entire money supply by renting all the hashpower over their 1-week distribution period and now they are manipulating the trading volume because they own 99% of the money supply.
You need to give your source(s) on serious allegations like this; it is irresponsible if not worse to make claims without evidence. Anyway, it doesn't look like the market is paying attention to your FUD. don't believe this guy, BC was distributed fairly...he's just a bitter MINT troll. BC dev is honest and active and there was no premine whatsoever. BC is the real deal. Great community and great ideas flowing through it all the time. MINT could be BC's silver if it ever breaks through the walls and market manipulation and if the devs were more active. COMM is distributing coins for free right now. Best to see if you can qualify.
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