InflationCoin - IFLT - 4% POS - SourceForge Project of the week 2018

[MadMac]

LOL, what news is that? Are you a time traveler from the past? 

[MadMac]

Doing some tests with the IFLT daemon on the Pi now (headless wallet). So far all seems to work, but downloading the blockchain will probably take till tomorrow.

Memory and CPU usage are so far fairly low, but it's not fully up yet. The same time Pi-Hole and my DHCP server run on the micro compy.

If someone is interested, the compiled version has some features from that "hub client", that is double of connections (32, not that crazy 2000 as in the hub one), double as fast thread updating (every minute) and built in nodes for automatic connect. Only minor changes. Please let me know, I can upload it somewhere.

[btc00]

atomic swap i think is good idea for this coin

[MadMac]

atomic swap i think is good idea for this coin

Nice words, but what would real world implications and requirements be? I don't know, I've been playing around with IFLT for a while, did some coding, most people here just complain, no developer, no nothing, no yourself. So why not get a bit constructive, can do brainstorming for sure.

Atomic swaps, a start....

Come on in guys, ideas, way forward, we are in this together.

[striker7334 2.0]

The price is stuck in nowhere territory. It does not matter in the long run. It will one day go up or it will die, either way, it does not really matter.

The coin is fun to play with, I have a 9 digits number, it stakes great, it made me learning a lot and I will hodl IFLT. One day it may reach 1 BTC Satoshi, that would make it worth then perhaps 10000$ (1 BTC), who knows. If not, then not.

I don't see anyone working on real world applicability unfortunately. That Android Wallet was a one day star but did not move from there. I could imagine IFLT as micropayment coin, bank the unbanked, like OmiseGo and TenX do, just at a lower price. But for this there would have to be some ecosystem and people put into place.

I agree with this statement, the price is just suppressed too much by the inflation tbh and now it doesn't even have the volume to stay alive another year to reach 8% and there is no other appeal to buy inflation other then it stakes at 80%. If I were in control of this coin I would attempt to breath life back into the project by either a rebrand or honestly the best option a coin swap. XLR just did one to enable masternodes and so far so good it seems to have work the project is gaining steam. Just my two sats on what could be done...wow thats worth a lot of inflation actually.

The coin already has plenty of momentum to last for years and more to come in my opinion if not as long as the timecycles of BTC, with more implementations and adaptations in the works while the current team is here. The information has been healthily updated over time and will continue that way. Sidechains to introduce more functionality such as Smart Coins and instant transactions on the Ripple, Stellar, and Bitshares networks seem like a more viable option currently that don't require hard forks, and the basic foundations have already been created. We would like to do something more original then masternodes on the main chain unless a viable service that actively uses them becomes available. Right now cross chain atomic swaps are already compatible on the main chain via BlocknetDX, and are also interested in adapting to new versions of wallets such as Litecoin's when it's finally released.

Besides that, we'd like to see a mixer for confidential transactions implemented in a future version of the wallet which won't require a hard fork, as private transactions seem to be a basic function of all the major cryptocurrencies available. Dash also utilizes a mixer, Zk-snarks are being implemented on Ethereum, and mixing services are already available for Bitcoin and Litecoin on various websites. As cryptocurrency becomes more valuable, these types of things should become standard practice to protect users and also lower chances of central failure. Youtuber Trevon James was also recently hacked and robbed of 111 BTC from one of his main cryptocurrency addresses, but was also dealing giveaways on every video directly from his main account address which isn't very wise, and also storing his wallet with a 3rd party (Exodus) that has access to more information that puts him in more risk or danger of attacks/schemes. A private light client or full node core wallet for him to store his funds on would've been a better option.

We believe the inflation rate with sharp yearly deflation over 4 years is working well, as it introduces the elements of dependency into asset's system compared something that starts out with no users using a coin's utility. The Android wallet still needs a bit more cosmetic work and improvements will be done in the future as more time and funding becomes available.

Is adding to livecoin still up of plans?

It's under review of investment performance right now in additional hedges, and other alternate plans are in the works as we monitored the asset performance on their website versus the costs. The cryptocurrency targets may reach extreme levels in the future that would scare away the usual typical investors especially one managed by a small community starting out, so a smaller hedge such as IFLT/USD managed by private investors with long term plans and regulated funding pools may be a better option. Coinexchange.io has already offered a more reasonable price earlier this year and is aimed to be released on for certain within the reasonable price ranges.

Those are all great ambitious goals that I'm on board for but the question still remains can the coin stay alive that long honestly to allow the price to catch up and keep interest in it until all of that can be done. The highest volume point was 2k on the 9th of November that is not momentum in the market imo and today it was $368 in volume. This wait and see approach for buyer motivation doesn't seem to be working. I'm willing to bet that within 3 months this coin will be de-listed not gaining volume at this rate. Coins need centralized exchanges to survive it sucks but that is the way it is and IFLT has that but with $200-300 in daily trade volume its considered a waste of server space and will not be kept its just not profitable to. So honestly as a team and community I would be focusing on some kind of project that inspires volume increase because it is a serious problem and its the number 1 killer of coins. Once the volume issue is solved then we can focus on sidechains and mobile wallets while waiting for a use to pop up just my opinion on the matter.

[MadMac]

Yes, absolutely agree to this. The volume is basically gone as nobody wants to sell for subSatoshis and rather sit on their stash of coins. It would go hand in hand, price moves, trading moves the price and vice versa.

Just need to get this started somehow and make it interesting. Could be connected do a project, for instance micropayments. But this needs a huge effort as it would mean real world deployment, not just playing around online with some artificial coin with no use.

Integration with TOR may be something that could be done, people are interested in such things, look at the DeepOnion hype. And they did not really anything else than copying code from BitcoinPlus and some others. Could also be done for IFLT.

[striker7334 2.0]

Yes, absolutely agree to this. The volume is basically gone as nobody wants to sell for subSatoshis and rather sit on their stash of coins. It would go hand in hand, price moves, trading moves the price and vice versa.

Just need to get this started somehow and make it interesting. Could be connected do a project, for instance micropayments. But this needs a huge effort as it would mean real world deployment, not just playing around online with some artificial coin with no use.

Integration with TOR may be something that could be done, people are interested in such things, look at the DeepOnion hype. And they did not really anything else than copying code from BitcoinPlus and some others. Could also be done for IFLT.

Yeah agree TOR&I2P implementation would be a solid start and good for the privacy points plus a requirement anymore these days with the governments starting to check crypto users out; honestly I still stand by what I said earlier a rebrand away from the name IFLT and possible a burning festival or coin swap to ease the orderbook sell side the supply is strangling the market imo.

[MadMac]

Rebranding would be a good idea, the name is not good and carries some negative message.

I would however not change the amount of coins or burn them. It's good to have a lot of them if you want to do the micropayment stuff. So more so better. Look at IOTA, they have Mega and Giga IOTA. And they target a similar thing, internet of things with micro transactions. Does not need to be monetary, your coffee machine wont pay your waterfilter, but some tiny transaction is still there.

So maybe a step forward would be a new name, and a name for the commas, like 1000000 IFLT become 1 <name it>. Or maybe 1000 IFLT become something whatever. Keep the actual coins, no need to burn them.

[CryptoGrinder]

Yes, absolutely agree to this. The volume is basically gone as nobody wants to sell for subSatoshis and rather sit on their stash of coins. It would go hand in hand, price moves, trading moves the price and vice versa.

Just need to get this started somehow and make it interesting. Could be connected do a project, for instance micropayments. But this needs a huge effort as it would mean real world deployment, not just playing around online with some artificial coin with no use.

Integration with TOR may be something that could be done, people are interested in such things, look at the DeepOnion hype. And they did not really anything else than copying code from BitcoinPlus and some others. Could also be done for IFLT.

DeepOnion hype is real!  I feel like I only see it because I'm super into it, but it feels good to see it being talked about elsewhere!  However, it is full of features... I don't think TOR alone would save IFLT.  The strength of IFLT is the wallet!  I'd love to see more wallet features and upgrades.

[zincra]

Rebranding would be a good idea, the name is not good and carries some negative message.

I would however not change the amount of coins or burn them. It's good to have a lot of them if you want to do the micropayment stuff. So more so better. Look at IOTA, they have Mega and Giga IOTA. And they target a similar thing, internet of things with micro transactions. Does not need to be monetary, your coffee machine wont pay your waterfilter, but some tiny transaction is still there.

So maybe a step forward would be a new name, and a name for the commas, like 1000000 IFLT become 1 <name it>. Or maybe 1000 IFLT become something whatever. Keep the actual coins, no need to burn them.

Smaller ammount of coins are good idea may be even rebranding but there is problems. All this progress shoulnt hurt old member and holder and also thouse who have invested lately. right now 1 inflationcoin is worth 0.00000000225 BTC this meaning 0.225 satoshi. But it might there is still members who bought coins at 2 sat ea or 1 sat ea. Lets say all coins ammount in new brand will be divided with 1000 then new price should be 225 sat as now , but to be fair for all this should be 2000 sat, and just new block chain and brand will not rise a price, there needs to be something more. Right now coin is rather stabile. Yes there is not much volume, but old memeber are stakeing and use opportunity with 80% stake rate. Later community can work with value and volume.

If coin goes with new brand and decreased coin ammount then there should be some mind blowing ideas to make it worth also for old holders and make it atractive to new comers.

[MadMac]

The amount of coins is ok, it does not need to be changed. It's just a perception issue. Let's change the name to MPC. MicroPaymentCoin, I just invented that . Then we can have the current coin supply as it is and we call it instead of 1000000 one mMPC. Problem solved.

The wallet is good for this, you can already set this under options, it just goes in the other direction . But that is a minor change that can be implemented

[MadMac]

DeepOnion hype is real!  I feel like I only see it because I'm super into it, but it feels good to see it being talked about elsewhere!  However, it is full of features... I don't think TOR alone would save IFLT.  The strength of IFLT is the wallet!  I'd love to see more wallet features and upgrades.

Well, I'm very critical on that. They don't have any real features besides TOR, but they brag about whatever should come in the future without implementing it. Up to you if you fall for marketing gimmicks .

But for IFLT, that could really be implemented, starting with TOR and then coin mixing and ring signatures. The code is already there. Look at PIVX. That would make a huge differentiator, and given the high supply of coins it could work out in the real world. But for this we'd need some dedicated developers.

[MadMac]

@Darkstar

Just to confirm this again, what is the latest source. I took that hub version. May play around with the TOR code a bit, maybe it works, maybe it's complicated, but would be a cool feature to have, no?

[MadMac]

Who is in charge now?

[DarkStar1O9]

Yes, absolutely agree to this. The volume is basically gone as nobody wants to sell for subSatoshis and rather sit on their stash of coins. It would go hand in hand, price moves, trading moves the price and vice versa.

Just need to get this started somehow and make it interesting. Could be connected do a project, for instance micropayments. But this needs a huge effort as it would mean real world deployment, not just playing around online with some artificial coin with no use.

Integration with TOR may be something that could be done, people are interested in such things, look at the DeepOnion hype. And they did not really anything else than copying code from BitcoinPlus and some others. Could also be done for IFLT.

DeepOnion hype is real!  I feel like I only see it because I'm super into it, but it feels good to see it being talked about elsewhere!  However, it is full of features... I don't think TOR alone would save IFLT.  The strength of IFLT is the wallet!  I'd love to see more wallet features and upgrades.

You should already be able to use the InflationCoin client with TOR or VPN through standard software. The Bitcoin wiki also gives instructions here on how to connect to an enabled TOR server connection through the proxy settings for running your client/node as a hidden service.
 
https://en.bitcoin.it/wiki/Tor
https://github.com/bitcoin/bitcoin/blob/master/doc/tor.md

[MadMac]

@Darkstar, please, what is the latest source? Simple question.

[legion_miracle]

I would certainly support a coin burn, to reduce the supply a little bit, attracting additional investors. I feel like there is so much more we could do here thought...maybe a tether to an actual currency?

[MadMac]

I would certainly support a coin burn, to reduce the supply a little bit, attracting additional investors. I feel like there is so much more we could do here thought...maybe a tether to an actual currency?

I don't get it, the big supply is actually what would make IFLT applicable to the real world, small transaction, active trade, not a limited value storage vehicle like Bitcoin. But people like to do this in Satoshis, lol, it only complicates things, use full coins. Like NEO does.

[vitocorp]

The reduction of the reward has not reactivated this currency. It seems clear that there is not too much demand. A pity we will see if there are new developments to come.

[zincra]

The reduction of the reward has not reactivated this currency. It seems clear that there is not too much demand. A pity we will see if there are new developments to come.

could have little patience on devs and procress.