|
Ya, we are just waiting on Crytopia to pull wallet out of maintenance mode, then we are good to go. Ill post here when they do.
Vegas
|
|
|
|
Good news! Please make sure the exchange is not going down after a few hours this time
Please understand, this is NOT what we want either. We want this to be a smooth, but exciting venture. I never said it would be easy, but I DID say it would be worth it  The good news is the hardest part is done. The tx system is by far the most complex part of the wallet, because there are so many lines in the code that are affected, so when something goes wrong, thousands of lines of code need to be looked at. After we are back on the exchange, I will give the updates a rest until after the holidays, then I want to start working on "autoburn". This will take a small percentage of every transaction and automatically burn the funds, reducing the money supply, AND showing up in real time in the money supply stats in the wallet. This will make FLY even more rare and harder to acquire. Vegas |
|
|
|
|
Guys Im quite sure I know whats going on. Im about 95% sure I can solve this. First I own about 7% of the money supply.
Inflation is a killer of any coin. Thats been proven over and over again. But the opposite can be a killer too, where its so rare that people just dont want to pay for it.
Example : Do you see people lining up to buy $500,000 exotic cars? No. Because only a tiny percent of the population has that kind of money. If you are able to afford one of these, its a bastard to sell, because nobody has the money to buy it.
The price for this alt is so extreme that nobody will pay the price for it. So youll only ever see me say this once: Inflate the coin.
As the creator of FLY coin, I studied the economic factors of Crypto full time for a year and a half. Here is what I found:
The money supply has a direct tie to the price of the coin. Its not the ONLY factor, but I would say its about 50% of the factor. The other factor is activity of the dev or Lead of the coin, along with the community. So even if the coin leader cannot code, there needs to be someone as a icon to lead the coin and remain active as much as possible on the thread.
When I created FLY. After all my research I chose the number of 150k money supply. I think I nailed it when within 2 months, FLY passed the price of every single altcoin in existence, including Dash, and Litecoin.
So My advice to you guys is fork the coin, and purposefully inflate it. Layer the POS %. 24 hour min stake age. Start aggressive:
for 30 days at 500% Apr,
31 days to 90 days 100% apr
91 days to 180 days 50%
After 180 days 50% POS with 7 day min stake.
The goal is to get around 100k-200k coins. Thats the "sweet spot".
Also no max age=nobody opens their wallet but once every month or once every 2 months. Needs to be max age 28 days.
Consider the coins already out there as seed coins. They will be very valuable in the beginning as they will be the coins that will generate massive other coins. When people discover that these "seed coins" will create other valuable coins, then the trading begins.
This will bring enormous interest back to the coin, and make it affordable for most.
I respect the concept of Double Eagle and 100 coins, but it just is not working.
Change logos to now read "100K". Still rare, and valuable. Market cap will skyrocket.
Ill be honest Ive been in XDE since V5, and I couldnt tell you who leads this coin, and makes the decisions. I beleive its uki , marcetin or mblados, but then when I asked, I was told its not. So its a community coin I think. Thats a BIG problem. So if this coin is to move forward, and succeed, there needs to be 1 person to lead the team, and that needs to be made clear who that is. Also is there a dev that can code for this?
These are the many problems why this coin is not doing well, AND it SHOULD!!
Let me know before you throw in the towel on this thing. It CAN be turned around and made very valuable!
Vegas
|
|
|
|
|
Will you be adding support for Crytopia?
|
|
|
|
Guys we are VERY close to releasing the update to get exchange working again. The code is complete. Testing now I could not be more excited !!!!!!!!!!!!!!!!!!!!!!!!!!! Vegas |
|
|
|
So when can we expect cryptopia fixed?
Soon. I dont want to say today because the problem we are working on is complex. I will say we are working non stop on this. Everyone that knows me, also knows Im telling the truth. Youll notice the fly wallet , input small transactions. Thats us testing the code. Thanks for understanding. Vegas Do you guys have an irc channel or do the devs talk anywhere? I will pop in sometime if you do. Wasn't sure if you were on freenode or not, I am there and on the hamradiocoin irc. We are actually in slack all day long. Vegas |
|
|
|
So when can we expect cryptopia fixed?
Soon. I dont want to say today because the problem we are working on is complex. I will say we are working non stop on this. Everyone that knows me, also knows Im telling the truth. Youll notice the Superfly wallet , input small transactions. Thats us testing the code. Thanks for understanding. Vegas |
|
|
|
Funny enough I read this and immediately thought of the unobtanium thread. Same 5-6 people building vaporware.
As for FLY I have just been reading since I first spoke to community members. A little too gargantuan for my taste, I follow the KISS philosophy in development.
Wait and see I guess.
Some people just like simple. Me too in most cases. But I think the cryptoworld was ready for something new and completely different. I mean we already have 1500 coins that are identical (except for the name). So FLY is a completely different choice. However because its so radical, and the code is so different , it has its challenges. Code is being worked on every day, including right now as we speak. We realize the exchange has been down, and I dont take this lightly. So we are working to get this going as fast as possible. Have you also noticed that almost every other crypto has become worthless? I mean 10,000 sats is the new moon in crypto. FLY is solid as a rock at 200,000 sats. So based on this fact, I would say Crypto IS ready for a change, and that change is called FLY. Also when FLY does become the new rage, other devs wont be able to copy it. Ive offered to pay btc to hire additional devs to work on the code. 10 of them said they would. Only 2 agreed. The rest wouldn't touch it. SO that tells me even in an open source world, there wont be another FLY. Keeping it rare and scarce , and prices high Thanks Vegas I didn't mean to sound brusque or anything ... I am pretty busy on another development project and didn't feel I'd be able to give the attention to this project it needed. I wish you guys all the luck, the community is pretty open and nice here.  If however you guys hire bug testers down the road, I will be glad to assist in that area. I have plenty of spare boxes for that sort of thing. As for the exchange thing, people put way too much effort into that part of things too soon in many case, and that is what leads to failure. Taking the time to build the platform before throwing it out there is good. I'd like to see something actually rare and scarce that isn't listed on every toilet of an exchange out there today. AWESOME!! YOU GET IT!!!! RARE AND SCARCE!! Thats what fly is all about. People said I was nuts when I said it was going to be listed on only one exchange, and a small exchange at that. I know you also see because of our high tx fees, there wont be much for sale, making it VERY difficult to acquire. Those that do send it there, will demand a higher price for it because they paid the high fees to get it there, keeping prices high Also once were back on the exchange, we will take a break from updates, and relax for a bit. The next update will be "auto burn". This feature will take a small percentage from the high tx fees and burn them, and will show up live in the wallet in the money supply under statistics. Making FLY even more rare and difficult to acquire. Keeping prices high. Im not the first visionary to be called crazy. -Vegasguy Thank you Vegas |
|
|
|
massive investment? hahahaha
value? HAHAHAHAHA I have 47,051 fly. FLY is stable at 200,000 sats. 94BTC or $40,000 USD So my wallet is worth $40,000. Maybe it is not a lot of money to you, but it is to me. Also with an investment of $40,000 , there is no way in hell Im going to let this fail and lose all that money. All your doing is helping me strengthen the facts of FLY. Now people will see how heavily invested I am, it also tells them I wont let it fail. The reason 99% of coins fail, is because there is no profit for the creator. What im saying is, it COSTS money in MANY ways to keep developing a coin. There is ONLY 1 way for a coins creator to make a profit and thats the success of the coin. Devs dont get paid to do all this development. If they implement tor nodes, or live stats in the wallet, they make NOTHING from that. So thats why most coins are short term and fail, because the devs make a little bit of money from a tiny premine. But what is the reason they should invest their time to continue? They are not getting paid anything. My payoff comes from the success of the coin. In the meantime, Im PAYING lots of money to continue developing the coin. But I dont mind, as in the near future, this will easily quadruple in value. Then I can begin to slowly sell my stakes for a nice profit. So thats my way of jumping in the pool. I promise you, I wont drown with $40,000 on the line, and soon my wallet will be worth over $100,000 (It already has). Would YOU let it fail? Thanks again. Vegas |
|
|
|
Funny enough I read this and immediately thought of the unobtanium thread. Same 5-6 people building vaporware.
As for FLY I have just been reading since I first spoke to community members. A little too gargantuan for my taste, I follow the KISS philosophy in development.
Wait and see I guess.
Some people just like simple. Me too in most cases. But I think the cryptoworld was ready for something new and completely different. I mean we already have 1500 coins that are identical (except for the name). So FLY is a completely different choice. However because its so radical, and the code is so different , it has its challenges. Code is being worked on every day, including right now as we speak. We realize the exchange has been down, and I dont take this lightly. So we are working to get this going as fast as possible. Have you also noticed that almost every other crypto has become worthless? I mean 10,000 sats is the new moon in crypto. FLY is solid as a rock at 200,000 sats. So based on this fact, I would say Crypto IS ready for a change, and that change is called FLY. Also when FLY does become the new rage, other devs wont be able to copy it. Ive offered to pay btc to hire additional devs to work on the code. 10 of them said they would. Only 2 agreed. The rest wouldn't touch it. SO that tells me even in an open source world, there wont be another FLY. Keeping it rare and scarce , and prices high Thanks Vegas |
|
|
|
|
Great question. Almost all of us dont sell. We want to keep this coin as difficult to acquire as possible, so we reinest our stakes. The reason why the top hold almost all of the coins is to protect the coins. We dont sell. Also in the near future, there will be an "auto burn" feature that burns a percentage of each transaction and shows in the money supply in real time. Also ALL of us bought our FLY, and continue to. I sold all of everything I acquired for 1.5 years in crypto to buy the largest amount of FLY because I knew it would best the greatest Crypto EVER. So its all fair. Also with my massive investment, it WONT fail. I wont let it.
Also I started with 58,000 coins. I sold about 15,000 coins to those that had none for 50% of the market price to distribute the wealth and balance the richlist. I would only sell to those I knew and trust and made everything public. The list of private sales is on the OP, you have my full permission to contact any of them and verify what I just said. These sales were not made before the coin was released, but much AFTER the coin was released and the value was clearly known.
Vegas
|
|
|
|
|
Im good with either system, but there must be a way for users to "trickle" their profits to the exchange to sell. I dont want the whole system locked where no one can sell profits over the years. At the same time I dont want the door wide open to dump it all. Thats why I came up with "stake to exchange", because its free, and its slows the rate at which users can upload their coins.
Vegas
|
|
|
|
LOL,
don't Ya know, Da Boss don't want a working Fly Wallet, dem peoples could dump, fees or no fees.
AG18
Actually I would like to speak for myself. The wallet DOES work. We are going to implement the old style wallet for now as we know it functions. Ive already presented this new idea to the guys. So what many dont know is every major decision I make has to be voted on. Its correct this way. I dont have all the power to make all the major decisions. So this has been presented to team fly. There are 11 of us, and all in different time zones, so everyone needs to vote on this and be heard. Community has massive say power , even over team fly. So its a process. Ive presented it. Lets see what they say. But for now the wallet we know does work will be working on Crytopia soon. Thanks |
|
|
|
|
Also in a future update: From the high sending fees generated , a small percent will get burned (about 1%-2%) of each transaction. This will actually show up in the money supply and even make this coin even more rare. Inflation will never kill this coin , I wont let it. 200k in the money supply scares me to death.
Vegas
|
|
|
|
BUMP! I believe this idea has merit and deserves a valid response on if it could be implemented or too far of a code fork. OK, New Idea to solve this issue at hand. On Fly Wallet, There has to be Two different Types of Address for each wallet. 1 Type Address is call the Staking Address Where you can store coins , but it stakes the coins so you gain your interest, Whenever you send coins out of this type address , then you are charged the 10% which goes to the superfly. 2nd type address is called Non-Staking Address. Any coins store here do not stake , so they do not gain interest. You can send from this address without paying the fee. Any Exchange would keep all of their coins in the Non-Staking type Addresses, so they would never be charged the 10% fee , and can send out the exact amount purchased. Users will store their coins in the type 1 staking address to earn interest and if they dump , they are charged the fee. Users that store their coins in type 2 non-staking address , would not be a problem, as it would be no different for them than buying it on the exchange and letting it sit there. But it would also give fly the ability to purchase items by using this address without the fee. Additional Options : You can place a limit on the amount of fly send out per block, if you feel the need. Also the addresses need a slightly different prefix , so you can tell just by looking if the address is staking or nonstaking. Example Staking address all start with FS, all non staking start with FN , 2 separate type address on 1 blockchain,  FYI: @cryptonit, if you claim this idea was yours first, I will have to sue you for copyright infringement, Just Kidding, LOL  The only issue I see is this leaves a giant hole for dumpers, so lets say I have 2000 coins, and im staking them in type 1 wallet, and then one day I decide I want to dump them, then I simply move them to my "type 2 address", then quickly send them to the exchange and dump (no fees). I love looking at new ideas, but it also must be secure. The MAJOR benefit of FLY is it cannot be dumped. Always keeping prices high, and even higher as when more people realize this they will buy because of this security. It also filters out short term traders and dumpers. They wont even look twice at this, and its meant to be this way. Long term investors will LOVE IT! Vegas |
|
|
|
Just sent a PM to Kees to be added to the list. I am usually not one to announce my wallet but having made a significant investment in this coin, I'll play along.
I just hope the potential of this coin is not killed by the rules on transactions and they instead contribute to its success.
It does concern me though.
Fallout, you nailed it 100%!!! This is a long term investment that is secured by a unique antidump feature that protects everyone. You profit from your stakes , and this keeps the market still scarce, and prices high, and you can even sell some from your main wallet each day without taking a massive penalty on fees. I listen to everyone. So if you have a suggestion for improvement, by all means please suggest. The rules wont tighten in the future, they will actually relax. I created a defensive position to protect my investors from short term traders/dumpers. Ultimately I am the one thats responsible for this coins performance. Once everything is in place , I will relax the rules and make it easier for everyone to move a moderate amount of coins easily. I probably will never make it easy to dump large amounts as I just dont see how that benefits anyone and always hurts prices. Vegas |
|
|
|
He can say whatever he wants. I would just prefer it to be at a less annoying and consistant rate. An actual rebuttal would atleast make it a little more entertaining rather than just being a pure annoyance..  I would respond..but LOL.. how to do even respond to "vegas is stupid", and "this coin sucks" and childish comments like that?? LOL. Vegas In the 3rd grade, it was easy, a few your mama so fat jokes and if the dog had not beat me over the fence , i be your daddy. Just Sayin, AG18 Right. Cool man. Peace. Vegas |
|
|
|
|
Show Posts
