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201  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 26, 2014, 03:32:00 PM
Ironic isn't it? Miners reaping high block rewards helped dumped FLT to 1000 sat, and now that block reward has halved they need FLT to be more valuable for it to be profitable to mine.

Can we vote to end PoW and forever shut out miners once PoT is active enough to secure the blockchain alongside PoS?  Wink

We want the coin to be profitable to mine...  At this point also PoT relies on PoW - this will be changing however likely with the next mandatory release in the next few months.
202  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 07:54:05 PM
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?
Not possible check the thread, or article linked in OP
203  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 06:19:26 PM
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!
Of course its difficult.  If it were easy, it would be exploitable.  PoT blocks are hit all the time.  PoT IS the possibility of rewarding those spending - its not meant as a guaranteed cash-back system or a revenue stream like PoS.  Definitely not meant to reward whales or investors - meant to reward the common user (whales and large investors are rewarded via PoS & the markets already).

PoW will never end - and if it did for whatever reason PoT rewards would be modded to run on PoS - Its a very very easy thing to do.

PoT has a lot of innovation, and adds a lot of security to the blockchain.  PoT is always evolving as well and is not a finalized protocol, it will only improve.
204  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 06:05:51 PM
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!

> Isn't this coin expected to be 100% PoS at some point, so point 4 would render PoT useless?

No, I thought this was the case also but the PoW phase never ends, it just halves all the way down to 20 block static rewards eventually.  I believe the PoT rewards are the same as any block reward for PoW; that is, you get whatever the PoW mining reward is at that time if you get lucky enough to PoT "mine" a block on your transaction.   I expect thekidcoin will continue to fine tune this reward system as it gets used in real life - it's hard to forecast well in advance how these use cases will play out so the parameters of the rewards may well change over time to close any gameable loopholes that may get discovered. 

Correct, and if POW ever goes (not likely), PoT will be modded to run on PoS blocks as well.  PoT will need to change, evolve... Even the 500 FLT minimum will need to go.  Its really irrelevant now (the 500 minimum) as flooding transactions/outputs is futile.  

Key is really to stay ahead of the curve.  Already testing PoT with PoS blocks as well.
205  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 03:52:47 PM
ALL may have an updated mac binary today, I have it working on 10.8.5 finally, but need to try it on 10.8.5 and 10.9.2 vanilla (meaning no software) to be sure it actually working.

206  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 01:18:42 PM
guys i can't get the fluttercoin wallet to open. i'm on mac, mavericks. it crashes everytime I accept incoming network transactions. sth about EXC_BAD_INSTRUCTION.

can anyone help?
that message helps though... every time something is sent to you?  that helps.  let me do some digging here
207  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 25, 2014, 01:17:27 PM
guys i can't get the fluttercoin wallet to open. i'm on mac, mavericks. it crashes everytime I accept incoming network transactions. sth about EXC_BAD_INSTRUCTION.

can anyone help?
try the wallet posted a few pages back by another person, and let me know if that one works for you...  having some issues with the mac wallets
208  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 10:51:57 PM
so i got my feet wet on qtcreator, qt4.8.5, qt5.2, qt5.3-beta, xcode with unix tools, macports, with updates, and includes.  didn't make any changes, cloned the github and went to compiling, never could get it to compile at all without errors.  Many of them occurring when it hit the zerocoin files.  Maybe I grabbed some new stuff that isn't ready yet.  I don't know, but was pretty fun learning and tinkering around with it.

On to more stuff...it's quite frustrating how a new coin with no following like cinni, jumps from 3k to 20k in a single day, and flt is still just hanging around at 1200, I suppose it's the PoW that's still scaring off potential investors, they want to buy up a large sum it seems, and not have to worry about share dilution.

Has new macosx wallet been confirmed and added to OP, so we can start correcting chat negativity about a non working mac client which seems to be some focus on it, they probably don't even own a mac.

looking forward to multipool, that will help some, but until PoW is done, I expect the price is going to stay about the same.  Nice to see new buyers, welcome!
Not adding to the OP as its not working as verified by a few people.

There was never an issue building the wallet, its a sporadic issue with some Mac's running it.  I personally cannot reproduce it hence its nearly impossible for me to debug.

I am actually creating a new vanilla OSX VM as we speak to hopefully see where its getting hung up (hopefully it actually gets stuck or crashes for me - I have absolutely no issues with my builds)
209  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 07:37:56 PM
Then let's pump (no dump)
210  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 04:53:51 PM
Few people were talking about a pump - not sure if that is good or bad though as those things are temporary usually
211  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 04:39:43 PM
What version of Xcode you using to build?

I am going to debug this with qt creator (I don't use it to build I use qmake/make)

May be piece of code causing this.  Curious to see the log file and see why it's getting stuck though (error message will say why block is rejected). 

I would definitely use a conf file with

Dnsseed=1
Noirc=1

Definitely delete the block index and DB files (keep wallet.dat backed up of course)
212  Alternate cryptocurrencies / Altcoin Discussion / Re: [ANN] Fluttercoin Reward Halving In 2 Days - Reward Cut to 1250 on: April 24, 2014, 02:34:10 PM
So you are telling me the blocks are halving the day before the multipool goes beta?

The blocks are halving every 7 days... just a coincidence
213  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 02:28:06 PM
ALL: Thanks for all the ideas etc.  Anything anyone feels they can do to contribute to FLT - monetary is nice for development of the coin - but using your connections to various crypto currency avenues is even better IMHO.  Besides the current projects these are things IMHO that are critical to success:

1) Payment processor
2) More publicity, articles etc - we especially need publicity on the top crypto news sites
3) Online wallet system
4) Donations to pay for advertising

Besides a multipool these things IMHO are very important and anything you can do to contribute to the above in any way would be appreciated.  We are working on these things as well.
214  Alternate cryptocurrencies / Altcoin Discussion / [ANN] Fluttercoin Reward Halving In 1.5 Days (1234 blocks) - Reward Cut to 1250 on: April 24, 2014, 04:38:55 AM
Reward for mining PoW blocks will drop from 2500 down to 1250 in roughly 1.5 days or 1234 blocks.

Please find more information here: https://bitcointalk.org/index.php?topic=509499.0

Block count here: http://explorer.fluttercoin.us/



215  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 03:55:13 AM
can someone post a simple guide to PoS mining for FLT ?

Here seriously is as simple as it gets... Open your wallet after your coins have been sitting there un-moved for at least 30 days, unlock your wallet via Settings > "unlock wallet...", the stake meter at the bottom should tell you the estimated time till the next POS reward.  Leave your wallet open if it is within the next few minutes/hours, when a POS block is mined the staked coins will be unavailable to spend until the block has matured.
216  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 03:34:59 AM
OSX WALLET BY MYSTPHYSX

Hey guys,

Collegestudent requested that I take a shot at building the wallet to get rid of any problems you guys might have.

Here's the link: https://dl.dropboxusercontent.com/u/60507461/FlutterCoin-Qt.zip

Do you guys want an unlock button for the wallet?

Please PM me if there's anything wrong.

Tips: FBkDDLqTgDsBxcsGYdkYGuttqZQKjzZxnj

Screenshot:

Can you share how you built yours or why my build crashes on some macs and not others?

I can build it without issue - it just crashes for people (not for me though)

Thanks for your help!
217  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 24, 2014, 12:07:50 AM
Love the look of this coin and think it has the potential to do a black coin type run, but to be realistic what price do you think this coin could possibly reach? Is $1 a bridge to far or could it be achieved?

If you are interested in Flutter just to speculate and dump out at the peak, expect to be disappointed for a while.  BC's run was something you do not see very often because it had a lot of factors behind it, some organic, some artificial, some pure chance - and various coincidences and incentives have to line up just right.

I don't see this happening with FLT any time soon. Maybe after the PoW phase ends things might shake up a bit, but by then who knows.  Maybe China does yet another 180 on crypto or MtGox comes back from the dead to feast on more suckers again; maybe PoT becomes front page discussion on CoinDesk and bleeds over into MarketWatch and WSJ coverage the way Scrypt-N did (assuming FUD mongers don't succeed in mislabeling it as 'just a lotto game' which they are already trying to do).  6 weeks is an eternity in crypto and anything can happen good or bad.
The PoW phase never ends.

My mistake,  I thought this coin halved until there was no reward left, but that's not correct.  Still, the last halving usually means a coin drops off predatory multipool radar screens so there is one less factor to keep an eye on (and to worry people about being unexpectedly dumped on). 

Tipping and merchant use will really be fascinating with the PoT rewards delivering more and more new coins into the economy of spenders rather than of savers.  As someone who thinks that inflation isn't necessarily bad in a thriving economy (because it accelerates the overall velocity of money, and decreases the importance of absolute price for goods and services with respect to the currency while increasing their importance of their value with respect to each other) I like the idea of a little inflation. Especially as PoT 'pays you back' as a spender who is doing the work of price evaluation of goods, instead of paying back people who just sit on piles of currency and let the rest of the economy do the work of being an economy while they just charge rent.
Exactly... Ever if the price were to rise high, it may not be profitable, and even if it were, what's dumping hundreds of coins into millions.
218  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 23, 2014, 11:21:43 PM
Where did people get 25% from? It's always been 5% nothing changed...

5% isn't the max, lot of factors come into play that decide the reward.

I don't really understand how that works, nor have I taken the time to really figure out what is happening in the code.

Most of it is being busy but I'm spending a little more focus on understamding these things.  And people throw numbers around and thought I saw oit on original op or something but glad I have it from the source.

How do you find how the code operates with regard to stake.

I also hear the Mac wallet is having problems, I stalling it tonight and will look into recompiling it as well as a side project .  should be a good bit of learning!

Mac wallet works, but crashes for some people.  Likely a missing dependency trying to figure that one out...
219  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 23, 2014, 11:20:20 PM
Love the look of this coin and think it has the potential to do a black coin type run, but to be realistic what price do you think this coin could possibly reach? Is $1 a bridge to far or could it be achieved?

If you are interested in Flutter just to speculate and dump out at the peak, expect to be disappointed for a while.  BC's run was something you do not see very often because it had a lot of factors behind it, some organic, some artificial, some pure chance - and various coincidences and incentives have to line up just right.

I don't see this happening with FLT any time soon. Maybe after the PoW phase ends things might shake up a bit, but by then who knows.  Maybe China does yet another 180 on crypto or MtGox comes back from the dead to feast on more suckers again; maybe PoT becomes front page discussion on CoinDesk and bleeds over into MarketWatch and WSJ coverage the way Scrypt-N did (assuming FUD mongers don't succeed in mislabeling it as 'just a lotto game' which they are already trying to do).  6 weeks is an eternity in crypto and anything can happen good or bad.
The PoW phase never ends.
220  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending on: April 23, 2014, 11:19:55 PM
Love the look of this coin and think it has the potential to do a black coin type run, but to be realistic what price do you think this coin could possibly reach? Is $1 a bridge to far or could it be achieved?
Don't see why not - seeing that 99.9% of these other coins present nothing new except new reward schemes, new scrypt variants, IPOs, limited POW mining, fancy logos, etc

I think FLT will be a slow but steady rise, which is what i want to see personally.


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