Eth has no limit on supply.
Grin has no limit on supply.
Nothing you have offered is not already covered.
You have almost no real info on the website. Everything you have to say about this is covered in the first post you made. The chart of emission makes it clear. The deafening silence (no market / no miners) with it being around since 2019. The complete lack of development on its github. Its dead ...quit beating it.
ETH, Grin, Doge have constant tail emissions. The constant emission will be smaller and smaller relative to the circulating supply. It's the same as Bitcoin.  |
|
|
|
Call it what ever you want. It is garbage. Nothing new except you changed emission rate ....as stated on the website. So no real code no real innovation, We changed emissions....when there are literally thousands of real coins already out there....Some with real experiments and not just sad little me too copy boys behind it. You list an exchange but there is no volume and no market for this coin. Even if you mine it...it has no value. Thats where your whole idea falls apart. If people dont value it....it has no value.
You are same as several trying to ride the bull market to your wet dream. But nobody values what you are doing because honestly its not even your work. Its bitcoins bitcore. And the value goes to there not to you.
The idea of Bitflate is to find a way to introduce inflation into crypto. Existing coins have limited supplies. The economic incentives are the same. You hold a bag of coins. The community pumps and dumps. Technology-focused coins, like Ethereum, claim to have better technology than Bitcoin. But it has the same economic incentives. I think this is why the whole market behaves the same way. Everyone pumps and dumps. Many coins have tried to sell "new tech" value proposition. I don't think they have added much. I think inflation can unlock the Medium of Exchange use-case. Bitflate has a moderately high inflation rate, 7% per year. That makes it distinctive from the rest of the market. Bitcoin is a good model for making cryptocurrency. Bitflate is not about a new crypto technology. It's an experiment with economic incentives. Bitflate is a shitcoin. Its supply will inflate to make a lot of coins. Many coins have failed to compete with the digital gold narrative of Bitcoin. Bitflate has a different narrative. It's the ultimate shitcoin. There'll be a lot of coins. We can make something useful out of it. Maybe, it'll be the digital fertilizer. |
|
|
|
Bitcoin has little need for transactions, the everyday coffee purchases. It's currently a speculative asset in the short-term. In the long-term, it's a Store of Value. Bitcoin, itself, cannot escape the SoV use-case. It's like trying to lift yourself from gravity. It doesn't work. The lack of need for the Lightning Network originates from Bitcoin's main chain and its economics. It's a fundamental problem. For several spikes of activities per year, it's difficult to justify using the Lightning Network. I wrote an article about this. https://bitflate.org/post/2019/11/24/bitcoin-will-not-be-a-medium-of-exchange.htmlThe key to solve the Medium of Exchange use-case is inflation. Until then, Bitcoin remains a speculative asset and a Store of Value. |
|
|
|
So you have a coin using sha-256 same algo as btc....
So what keeps a big btc farm from pointing its hash power at this coin and 51% attacking it? Correction what keeps anyone with a single S9 from owning the network (worthless as it is).
I mean i know this coin is in no danger becuase to be honest the market cap is pitiful literally has no ranking (so not in top 5000 couns) and no clear market price. The exchange listed is not exactly anything...the exhanges total volume of all coins traded in 24hrs is less than $5000 TOTAL.
Total value of bitflate coin 24hrs.... $32...total...worldwide. And it appears that data is probably inflated.
Total miners on the NL pool ZERO
Total miners on the cminers pool ..... 2
So total 2 miners. And they havent found a block since 12/25.
Bitflate is an experimental coin. I don't think anyone bothers to attack it. They will only help the community pushing blocks. Changing the mining algorithm won't prevent attacks. Why should Bitflate exist? Because we need to find a way to address the Medium of Exchange use-case. Check out the website for more information: https://bitflate.org/ |
|
|
|
Here we go again, so all what this bitflate can do is inflation and POW? I'm guessing this is another hit and run crypto project, this project add no solution to crypto projects but add more problem to crypto space because such project have no real use case, miners I hope you guys are smart, I spent over a year mining coins like this and they died before I was even able to sell them.
How does Bitcoin address the Medium of Exchange use-case? I think the answer is it can't. A money system consists of a Store of Value and a Medium of Exchange. An example is the Gold Standard. It consists of gold (deflationary) and paper money (inflationary). We need an inflationary crypto to make a crypto money system. That is the purpose of Bitflate. Check out Bitflate website for more information: https://bitflate.org/ |
|
|
|
Do you have miner recommendation for best result? or is this pool recommended a best miner for gpu in their website? Anyway thanks for your info, I would like to try to mine this coin and see if it is profitable or will become profitable soon.
I use SHA256 and SHA256 asicboost rigs on miningrigrentals.com. I mine with both cminors and mining-dutch pools. I try to support both pools because they support Bitflate. I like cminors UI. It's faster. But mining-dutch is a bigger pool with longer history. I did hit some problems with payouts before. So check your payouts. Bitflate's thesis is that we need to have inflation for transactions. Bitcoin is deflationary. Bitflate is inflationary. I think Bitflate's success depends on when people will accept this thesis. As far as I see, most people in crypto reject inflation. They think it's evil and Bitcoin is the final form of money. It can take a while for people to rethink their views of inflation. In the meantime, early Bitflate adopters can mine bigger block rewards.  |
|
|
|
Hi everyone, I wrote an analysis of cryptocurrency from the Yi Ching point of view. Yi Ching is an ancient Chinese philosophy. I think it can inform us of design tradeoffs for cryptocurrency. https://bitflate.org/post/2020/08/24/yi-ching-and-cryptocurrency.htmlBitcoin is deflationary. This property makes Bitcoin volatile. Yi Ching points us to a way to address this shortcoming: inflation. This is an inspiration for me to design Bitflate, a cryptocurrency with 7% inflation. |
|
|
|
He makes a number of incorrect statements. Bitcoin is a medium of exchange, and volatility doesn't affect this. Fiat is not money any more, contrary to popular belief. The prices of gold, Bitcoin and fiat are all manipulated. The cap is just one thing that gives Bitcoin a hard asset status, another is the immutability and stability of the blockchain, and now other crypto is likely to copy this. This is why they need an element of centralisation.
I think the guys has put together a bunch of misconceptions, and is trying to use an ancient Chinese philosophy to justify a weaker alternative concept.
Bitcoin is decentralized and has limited supply. It is detached from fiat money to the other extreme. Therefore, it's inherently volatile compared to fiat. Gold has this problem. Gold is decentralized and is scarce. You can either get centralization and stability or decentralization and volatility. This is what Yi Ching tells us. It does not say centralization or decentralization is bad. It lays out what centralization or decentralization can and cannot do. I also analyze Ethereum properties. Ethereum reduces the number of nodes and has a flexible monetary policy. Under Yi Ching, these changes will move Ethereum towards centralization. |
|
|
|
|
Show Posts
