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61  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 17, 2014, 03:34:32 PM
Looks like I hit 3 proof-of-transactions yesterday?! Is this POT v2 in effect? I thought it didn't fork till after block 57,000? Also, how did I get two in a row 11 hours apart?


thats not PoT, its PoS
62  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 16, 2014, 12:08:37 PM
when does FLT goes PoS?

+1

Is the a thread for the development of FLT or just a price speculation thread?

The subreddit is dead. Is this coin dead?

Is anyone working on anything for this coin?

FLT never goes pure PoS - that's BC.

You are correct though, but I can't do all of it, I have a job too...

There is a team working on stuff, there are big changes coming at block 57001, etc but we like don't I guess have like a paid PR firm
63  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 16, 2014, 12:03:01 PM
I don't really follow most crypto stuff - but what's DRK have? Dark sending?

You should, unless you are Satoshi Nakamoto. You have the qualities to be a leader in this space, don't be content to become a spectator and rest on laurels.

DarkCoin has Evan Duffield who has been relentless since January.

Maybe I'm playing dumb to see what others think Wink
64  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 16, 2014, 03:36:14 AM
I don't really follow most crypto stuff - but what's DRK have? Dark sending?

DRK's biggest feature is Darksend, which fogs the blockchain through a decentralized network of globally distributed masternodes that collectively split up transactions with an implementation of coinjoin technology. With the final release due in June, transactions of up to 100 DRK (currently about $675) can be rendered totally invisible through Darksend.

The dev also invented the X11 hashing algo and an improvement on KGW called Dark Gravity Wave. People are just now waking up to all of these innovations coming out of the coin, which has resulted in a nearly $6m 24 hour volume.

Crazy times in the world of crypto~
So basically litecoin with x11, KGW, and an easy way to launder money...

This will get the attention of the US DOJ really quick.  You know that's coming.  Their tentacles are wide reaching.
65  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 09:33:16 PM
I don't really follow most crypto stuff - but what's DRK have? Dark sending?
66  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 08:02:48 PM
So does anybody know what is happening with FLT? I dont mean the drop in price, im referring to progress, community development, social networking. Has anybody grabbed it by the balls yet? Seems crazy, a coin with a fantastic code behind it. And nobody seems interested  Huh
Already been done and being done - all that matters is BTC investment...  But you are right 100% it boggles the mind really.

People are more interested in clones.  I'll say it - all coins are clones with small mods or modest improvements except BTC > PPC > FLT & NXT & XPM (there are a handful more I know if I missed you!)  Cocky?  yes, because its true - but not trying to be a jerk either.  Take peoples favorite PoS only coins - making that work is a mere 3 value changes and an if statement to reject PoW blocks (one coin couldn't even get that right). 

But this unfortunately doesn't equate to price....

Look at how awesome DOGE is.  It it revolutionary code?  not at all.  But they have got their stuff together.  Their model of PR etc is revolutionary.  They have a huge community, lot of cool people.  They had a fricken sponsored car at NASCAR!  I applaud that. 

I can't personally be upset, jealous etc, thats not my style.  I just want long term FLT success.  If this means FLT is worth 100k in a few years, so be it.  I can wait, and am not so quick to abandon ship.

The only thing I can say really, is if one wants the price to rise, one needs to "BUY EM!" as they say on the trading floor here in Chicago
67  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 02:33:39 PM


I believe it will help attract more people to this sexy coin if we also mention what is the maximum possible PoS reward per year. Saying minimum 5% is not as attractive as saying maximum 30% for example. Is somebody able to calculate what is the maximum compound interest that a person could get per year? Also does it make sense to sell all my coins when the 90 days maturation period expires and buy new ones which I then start staking again for maximum per year gains?

Would somebody be nice and comment on the above 2 points, please.

1. Max possible PoS reward per year.
2. Moving the coins after the maturation period expires and restocking.

Thanks a lot!
[/quote]
Max as coded is 100% LOL but it will never reach that, more like 10% (give or take a few points) max per coin year
If you turn on coin control in the wallet Settings > Options > Display > "Display coin control features (experts only)" you can see the dates and spend coins accordingly

68  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 02:26:13 PM
we should mention also:
- this is a sexy coin
- we have SwedishGirl on board
- and our Dev is female
 Wink


you just transformed thekidcoin`s gender... I don`t know why you would do something  like that:)))
LOL
69  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 03:15:51 AM
Thanks for the comments  Wink
I'm almost done ( mostly alignment and subtle changes remain )



Anything to add/change?
@thekidcoin , do you like it?

*I also think the links to the whitepapers should be right below the banner ( or maybe the specs ) for better visibillity

Yeah - the middle one - PoT isn't 50% of the block reward after block 57K - its 5%.  

Right now PoT hits on average every 200 blocks (the reward - not the PoT transaction checking)

at 156 FLT rewards (Saturday), thats 78 FLT every 200 blocks for PoT.

With the new algo, it will be roughly 80% of the time (its still anyone's guess) - so 160 rewards @ 3.9 FLT each = 624 FLT every 200 blocks through PoT (800% increase)

Ok got it thats easy ( unless I got it wrong Cheesy )
So I updated it to represent the new algo since saturday is close



Do you want me to add the whole "every 200/1000 blocks" ?
I'm thinking that because the banner should be read by a single person , it wouldn't matter to him how much PoT reward in total only the part relevant to him ( also this can be calculated with the 80% figure )

thats good like that...
70  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 15, 2014, 02:36:33 AM
Thanks for the comments  Wink
I'm almost done ( mostly alignment and subtle changes remain )



Anything to add/change?
@thekidcoin , do you like it?

*I also think the links to the whitepapers should be right below the banner ( or maybe the specs ) for better visibillity

Yeah - the middle one - PoT isn't 50% of the block reward after block 57K - its 5%. 

Right now PoT hits on average every 200 blocks (the reward - not the PoT transaction checking)

at 156 FLT rewards (Saturday), thats 78 FLT every 200 blocks for PoT.

With the new algo, it will be roughly 80% of the time (its still anyone's guess) - so 160 rewards @ 3.9 FLT each = 624 FLT every 200 blocks through PoT (800% increase)
71  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 14, 2014, 11:27:34 PM
I heard a rumor that kidcoin was the first female crypto developer, is this true?
You never know...
really?
you never know, I may not even be from this planet
72  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 14, 2014, 04:13:53 PM
I heard a rumor that kidcoin was the first female crypto developer, is this true?
You never know...
73  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 11:06:00 PM
I said that twice, I'm like Jimmy Two Times.  Gotta go get the papers, get the papers (goodfellas LOL)
74  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 11:05:23 PM
PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?
Huh

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

From main.h:

static const int LAST_POW_BLOCK = 10000;

from main.cpp:

if (IsProofOfWork() && nHeight > LAST_POW_BLOCK)
        return DoS(100, error("AcceptBlock() : reject proof-of-work at height %d", nHeight));

so, no mining on BC anymore...
75  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 11:04:33 PM
PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?
Huh

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.
Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?
From main.h:

static const int LAST_POW_BLOCK = 10000;

from main.cpp:

if (IsProofOfWork() && nHeight > LAST_POW_BLOCK)
        return DoS(100, error("AcceptBlock() : reject proof-of-work at height %d", nHeight));

so, no mining on BC anymore...
76  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 11:02:07 PM
So how does a 51% attack work on PoW/PoS coin? You need to have both 51% of PoW and PoS power? Can you for example 51% a PoW/PoS coin by having just 51%+ of the PoW hashrate?

For a low PoW reward PoW/PoS hybrid you only need to control 51% of the PoW network hashpower (which is easy because the PoW reward is so low) and then you can override the PoS and produce a long stretch of only PoW blocks on the blockchain, effectively converting it to a pure PoW system for a given amount of time and thereby allowing you to take control of the blockchain and double spend during the time period. The BC devs "demonstrated" this on Mintcoin, and Mintcoin had to switch to pure PoS to fix the issue. I think PoT would prevent this from happening even as fluttercoin transitions to a lower reward and the network hashrate drops because the PoT blocks are tied to the PoW blocks and "check" the validity of PoW blocks and would fork the attackers chain away from the main chain. In otherwords, low PoW reward PoS/PoW hybrids are generally vulnerable but I think fluttercoin changes that with the addition of PoT Smiley

I still think there are some issues with pure PoS systems. Particularly systems which have a low PoS interest (e.g. 1% for BC) because that means there is less incentive for people to keep their wallets open and securing the network which means the network weight at any given time that one would have to compete with to get 51% of the weight is lower. Also, since the weight is based off of coin-days (a function of number of coins and their age), it seems to me that having no max coin-age (such as in the case of BC) would allow, in theory, somebody to gather infinite coin-days with a small number of coins over an infinite period of time. Practically speaking nobody can let their coins age for an infinite amount of time but depending on how many coins you have you could let those coins sit and collect coin-age indefinitely until you have accumulated enough coin-days to posses 51% of the network weight.

This is my understanding, somebody correct me.

Great assessment...
77  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 05:18:50 PM
Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread  Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS.  I'm sure there are others.  1400 XBC were stolen from Poloniex due to some form of 51% attack or injection.  They had to increase deposit and withdraw confirmations to 1200.  I do not support these coins so I do not remember the full details.  Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.
To my knowledge, Colossuscoin was the first 100% PoS coin but they had a lot of pain to get it working. Dunno if it works that good as I haven't followed that coin for a long time now.

Its super easy to convert PPC or NVC or any PPC clone into a pure PoS.  Its only a few lines (not even lines - really just numbers).  Which is why some people were upset when I called a few coins which I will not name pure "clones" - but its the truth.  Its just a few changed parameters to stake age and rejecting PoW blocks.


78  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 05:05:53 PM
PoW blocks are rejected...
79  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 05:04:18 PM
Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread  Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS.  I'm sure there are others.  1400 XBC were stolen from Poloniex due to some form of 51% attack or injection.  They had to increase deposit and withdraw confirmations to 1200.  I do not support these coins so I do not remember the full details.  Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.

No they don't

BC doesn't, QTM doesn't.
80  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] FlutterCoin FLT Proof Of Transaction v2 UPDATE to v0.4.5.7 IMMEDIATELY on: May 13, 2014, 04:23:15 PM
Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread  Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

edit: I have an idea like 'staking holes', but i want to hear what others think.
what if all stakeholders had coins at exchanges, or didn't have their wallet open?

Any idea what would happen?

There are other holes as well for sure. 
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