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. |
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ALL: Big mistake with the toal PoW calculation of coins. Its actually 10% LESS
Total PoW coins output is actually around 200 million
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This coin is a bargain right now, buy what your comfortable holding and take a deep breath. I have to keep telling myself why I bought flt in the first place. Need more places to spend it though. Get some retailers to see the benefits of PoT and security of PoS, can someone crasft a letter we could send out to some retailers like Lane Bryant, ulta, etc. And need to get on other things locally. Is there a possibility of a credit card style backing, we can fill a wallet with flt and I can use my card at the gas station?
again - this is not a "woman's" coin LOL Think friendly I guess. But any store will help. We need a payment processor and more publicity really... |
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did this really happen???
This is why my name is secret, none of my coins are on computers and/or USB/paper at home, I have an alarm, cameras, and a lot of ammo. Someone would leave my house in a bodybag.
Every time some loon tells me I should use my real name I laugh.
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If you guys are gonna monologue, please use facts, not myth.
In two posts I heard mention of multipools and KGW - Won't even comment further than below.
KGW does nothing to stop multipools, KGW does what we do, but in a different way.
Multipools don't have enough coins to catastrophically dump each day (900k). Come Saturday they will (this is if they mined every block - which they aren't not even by a long shot) 450k coins each day.
Multipools are almost no factor now and will be no factor in the future,
I think it's pretty clear from my post that I know damn well the block halving will eventually address this mine-raping problem. I still think it would be better if it didn't happen in the first place, but whatever. Way to go with the misdirection. The lack of community engagement is most of what my post was about, and I am afraid there's nothing wrong with my facts there. That 2-3 sat shitcoin I was alluding to, which had a 30 BTC sell wall but a fantastic community effort run by the dev? It's 11 sats today - 30 BTC + additional 40 BTC of sell wall vaporised. They kept the community fired up despite the deplorable outlook and when they were ready to introduce something semi-newsworthy today (they added a PoS system to a plain vanilla PoW coin), and they had all the right eyes in place to make the market come back to life and blow the lid off that sell pressure. It may well die back down in a few days but this is a textbook case of investing in the community instead of being indifferent to it, and having it pay off by multiplying your efforts. Cool story bro... lol are there any others devs or is it only you? Trujillo, some other folks doing the multipool stuff, etc |
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If you guys are gonna monologue, please use facts, not myth.
In two posts I heard mention of multipools and KGW - Won't even comment further than below.
KGW does nothing to stop multipools, KGW does what we do, but in a different way.
Multipools don't have enough coins to catastrophically dump each day (900k). Come Saturday they will (this is if they mined every block - which they aren't not even by a long shot) 450k coins each day.
Multipools are almost no factor now and will be no factor in the future,
I think it's pretty clear from my post that I know damn well the block halving will eventually address this mine-raping problem. I still think it would be better if it didn't happen in the first place, but whatever. Way to go with the misdirection. The lack of community engagement is most of what my post was about, and I am afraid there's nothing wrong with my facts there. That 2-3 sat shitcoin I was alluding to, which had a 30 BTC sell wall but a fantastic community effort run by the dev? It's 11 sats today - 30 BTC + additional 40 BTC of sell wall vaporised. They kept the community fired up despite the deplorable outlook and when they were ready to introduce something semi-newsworthy today (they added a PoS system to a plain vanilla PoW coin), and they had all the right eyes in place to make the market come back to life and blow the lid off that sell pressure. It may well die back down in a few days but this is a textbook case of investing in the community instead of being indifferent to it, and having it pay off by multiplying your efforts. Cool story bro... lol |
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To everyone asking for KGW implmentation, you must realize that our block halving schedule addresses this problem, just in a more stable/long-term fashion. From what I've seen, it seems like everyone wants multipools to stop dumping their Fluttercoin so it can go "to the moon." The flaw in this logic is that an extremely quick rise in price would not be stable and lead to a harsh drop as well. Instead of allowing this to happen we took the route that allows for consistent upwards growth as it is best for FLT long-term.
We've experienced periods like this in the past, after our quick rise to 900 satoshi. Price declined over the weeks following this and got all the way down to 150 sat. before rebounding to a 2,700 sat. high. I expect this trend to repeat again, as that's what markets do. Those who have weak hands will not be rewarded and those who do not will be. It's happened before and will continue to happen until people eventually learn the lesson.
Not to mention: KGW is just a fancy name for adjusting difficulty per block - which we already do Not to mention: People think multipools can somehow mine and dump more coins than are available each day - the max number of coins each day as of today are 720 x 1250 = 900,000 - 2 weeks ago it was 3,600,000 Saturday it will be 450,000, next Saturday it will be 225,000, 3rd Saturday is 112,500 These people simply want this: get rich on a little 1 BTC investment, dump their coins - and fast. |
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To everyone asking for KGW implmentation, you must realize that our block halving schedule addresses this problem, just in a more stable/long-term fashion. From what I've seen, it seems like everyone wants multipools to stop dumping their Fluttercoin so it can go "to the moon." The flaw in this logic is that an extremely quick rise in price would not be stable and lead to a harsh drop as well. Instead of allowing this to happen we took the route that allows for consistent upwards growth as it is best for FLT long-term.
We've experienced periods like this in the past, after our quick rise to 900 satoshi. Price declined over the weeks following this and got all the way down to 150 sat. before rebounding to a 2,700 sat. high. I expect this trend to repeat again, as that's what markets do. Those who have weak hands will not be rewarded and those who do not will be. It's happened before and will continue to happen until people eventually learn the lesson.
Not to mention: KGW is just a fancy name for adjusting difficulty per block - which we already do |
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If you guys are gonna monologue, please use facts, not myth.
In two posts I heard mention of multipools and KGW - Won't even comment further than below.
KGW does nothing to stop multipools, KGW does what we do, but in a different way.
Multipools don't have enough coins to catastrophically dump each day (900k). Come Saturday they will (this is if they mined every block - which they aren't not even by a long shot) 450k coins each day.
Multipools are almost no factor now and will be no factor in the future,
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Fluttercoin is being raped by other multipools dumping their mined coins on fluttercoin exchange.
While the fluttercoin multipool buying small amounts there is no way fluttercoin can gain traction.
What are the ideas to overcome this? I see some:
- Switch fluttercoin to POS and stop POW
- Retarget difficulty so its not interesting anymore for multipools to mine.
others?
Im still holding a lot of FLT with some profit, but if this continues I have to sell because its not worth it.
Thanks for your ideas.
I am sitting on damn near a loss right now, but I also know that these multipool attacks are cyclical and burn themselves out after awhile as they ruin the profitability of the coin they are hammering to the point that its not worth hammering any more. I really wish FLT would have had at very least KGW to fend this off as it is very hard to remain a supporter of the coin in forums etc. when the charts make it look like you are incapable of understanding basic math. The only upside is that there is another halving this saturday and this will really bring the profitability down to unappealing levels and old coins mined during fat rewards era will start getting sold off to replace lost income from mine-to-dump. Its worth noting that other coin communities are in much, much worse shape right now in terms of profit (selling for 3 or 2 sats and massive 20-30 BTC sell walls) but the community itself is largely blowing it off and keeps trying to create new tools to promote their coin, runs multiple subreddits, runs contests, twitter campaigns and more. I don't know why Flutter has not attracted these kinds of users, but we can't just rest on the innovation of Proof of Transaction and expect that to pull all the weight. It's not even that great as an implementation, to be honest it feels like a kind of experimental "what-if" scenario that was turned into a real coin. Though - the fundamental idea behind it is worthy of a lot of respect and will eventually get traction. I have about 1 BTC invested in Flutter, all paid for - i didn't mine anything - and I wish I had more time to do all these projects but frankly I have to limit myself to being a cheerleader here and there as I am only moderately savvy in the technical side of crypto. But there are people who have 5, 10, 20 or more BTC in Flutter (whether through early low diff mining or through trading) and I hope they can see the value in making a public commitment to throwing 5% or 10% of that at some of the bounty projects to get this community jolted into action. I will put in 5% of what I have if I know some of the early owners will do the same because I am certain we will all get that same % back in profitability if the community can get out of the "you go first" mode that it is stuck in. The bloom will be off the PoT rose soon enough if the head start on other coins is not taken advantage of with some PR efforts and quickly! I am already seeing a sudden uptick in "innovation of the week" whitepapers coming out which will quickly crowd the message space with distractions that will all try to steal what little spotlight is currently on Flutter away from it. KGW? Hahaha |
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Fluttercoin is being raped by other multipools dumping their mined coins on fluttercoin exchange.
While the fluttercoin multipool buying small amounts there is no way fluttercoin can gain traction.
What are the ideas to overcome this? I see some:
- Switch fluttercoin to POS and stop POW
- Retarget difficulty so its not interesting anymore for multipools to mine.
others?
Im still holding a lot of FLT with some profit, but if this continues I have to sell because its not worth it.
Thanks for your ideas.
Wrong - all wrong. Multipools have nothing to dump there are 900k coins each day till Saturday |
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Another statement from the multipool team: https://t.co/vMVCmdONOXThis is for everyone talking about payouts: most of our Fluttercoins are stuck on Cryptsy, so Cryptsy is the one to blame here  I think I speak for most of the community when I say I trust the pool ops and that they are doing a good job tweaking our pool. Keep up the good work! Cryptsy has some of my FLT I'm trying to withdraw as well going on an hour no confirmation |
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means nothing, its not manipulation its a sideways market, people are trading. Thats what traders do LOL play support/resistance. Especially with how slow these exchanges are compared to something like Globex, its super easy
The market will break out, just no volume at the moment. Volume moves a market
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Curious to see how much people got paid from the flutterpool, anyone care to share there payouts
82 fluttercoins for 3.2 Mh/s for 24 hours very disappointed Check your mail (if you are an official beta-tester), this is not the whole pay-out. More to come  https://twitter.com/IcarusGlider/status/460743197069938688 < The reason for the delay. Craptsy again. Do they have 2FA enabled? LOL maybe they need to enter the withdrawal code? Can't be that easy though |
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Understand these rules:
PoT is not meant to curb hoarding or saving
PoT is not meant to encourage spending
PoT is meant to reward randomly for send OR receiving (the receiver can also receive a PoT reward it seems this is never talked about though)
PoT can't be tied to coin age - wouldn't remotely be able to work
PoT at the moment is not tied to PoS
Making it easier leads to easy of manipulation (though that becomes harder as well as you will need to be first in), but, I am toying with some ideas, though nothing will change short-term as to not upset things. Keep tossing out ideas, its all fuel to my creative fire LOL.
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If we can get a nice rise I'd like to see the market move sideways like this for a while. Makes for a steady price, attracts merchants
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More likely they are placing orders at key prices, say 1500, 1000 etc. These are just traders. Nothing special nor is it ask scheme, etc
What these people call sell walls I call resistance - buy walls are support. Now if they are selling resistance and buying support, good job, that's what I would do. But they aren't controlling the market - the market is consolidating. Low volume. Hopefully will soon break out to the upside.
Pumps = rallies
Dumps = retractions
I traded S&P futures for years (traded other things too but SP was my main). The rest of the trading world would take us more seriously if we spoke the proper terms. Real traders and investors buying FLT and making a more liquid market is what we need to keep a stable price.
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hello guys ,
i'm a little bit worry about halving and minning , the coin will never stop being PoW like coinkid said , so after like 3 weeks or 2 there will be no miners mining the coin when the reward goes down to 80 or 160 per block , what in mind for preventing a 51% ?
i'm kinda noob when it comes to this stuff , so can someone explain to me why there gona be miners after 3 weeks ?
Let them 51% attack and fork onto their own chain. Already happened. We kept on rolling. Something tells me the coin will be profitable to mine. |
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so for the last few hours multipool has been mining potcoin and then they are going to sell the coins and buy flt ,
but flt and pot are on the same profit range according to coinwarz , it doesn`t make sense to me
You can't mine Flutter, sell Flutter and buy Flutter back. Now do ya?  actually you would get more flt by mining at a pool then the multipool since they have a 2% fee BETA! no shit Cry? |
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