[ANN] FlutterCoin FLT Proof Of Transaction Cash Back for Sending & Recieving

[homeiss]

i won't get banned for the FLT game, its not a give-a-way, it's a game. isn't much happening here anyway, besides it attracts people. it's an example for PoT
 
Ok here it is:

I just sent 500 FLT to Poogasm to start this whole thing off since s/he was first to post an address. Lucky you! Pass it along and count you confirmations, lol.



"Pass the Flutter"
A game to show how the PoT function of the FLT works. Ya don't need anything to play, just honesty and a tiny bit (.01) of FLT for a transaction fee, but you get the chance to receive more than you're spending. How to play: just find a someone send the FLT you are given, hopefully you win the PoT bonus. Simple as pie. I am providing the initial 500FLT, feel free to add more if you want to increase your payout. You can send to a person that's already gotten the FLT or the reward, just no direct backsie's if you can help it. See link for a list of PoT specifications, provided by thekidcoin:
http://www.fluttercoin.us/fluttercoin/wp-content/uploads/2014/03/Proof-of-Transaction.pdf
Just add your name to the list. Only rule: please cut and paste, NO QUOTING, for message length reasons, if the message does get too long, please include the number of the page of where you are leaving off/starting from.  GOOD LUCK!!!
My address: FDoeoM5mj4ta8hzYv52DoYZqos42q4Boik

Copy and paste this:

"Pass the Flutter"
Rules and description on page 86
Halofire to Poogasm 500FLT No bonus
Poogasm to _______ 500FLT

Ok so after reading the POT pdf file thekidcoin posted for the transaction needs to be OVER 500... Pass it to me and I will make the pot 1000!

pass the flutter F7PjYAf7stemsejKHWarkjC1sb5FqbsnhZ

[homeiss]

Ok Just received it from poogasm who wants it next? 

[axo]

You would left the rewards as they are now, maximum 5K, 2.5K, etc, but adopted a system of adjusting the rewards down/up based on difficulty/hashrate, with the current reward levels being the maximums, possibly it could alleviate some dumping.

Say a multipool wanted to mine because it was profitable at 5000, but then their hashrate hit the coin and the reward dropped to say 4000, the coin may not be as profitable and they would switch to a new coin (maybe)

If you throw 20gH at it, say with ASIC's, maybe the reward will drop to 500 or something, and they would stop mining.

I like the idea of a sliding reward value based on hashrate. When wafflepool hits us with 30GH like they have at times, it would be great if the reward dropped to 500 or 1000 coins, this would kill profitability for them.

I agree with Jesse Livermore, if we stop buying the dumps they will have to stop mining it. But that's not realistic, they would just stop mining it till people started buying again then they would jump back on. We need to look at real long term solutions here.

The idea of drop reward when big multipool hits the coin is not as good as it looks because the network can react only after the multipool mined some blocks. There is a time shift between the time a multipool starts mining the coin and the time of reward drop. Doing an intermittent mining, this timeshift can be exploited by the multipool to lower the average reward generating fluctuating block reward, and mine only higher reward blocks.

I thought many days about a way to discourage multipools but my conclusion is that the only way is the opposite: encourage the multipool (and other miners) to continue mining the coin, leaving the stabilization to the market.
I think that if the block reward would grow with the difficulty, the coin would be more stable. This cause an offer increase in the market, the price will adjust accordingly and the mining profit change, so miners and multipools can join or leave the coin accordingly. This is a longer cycle that can generate a smoother fluctuation. With actual fixed block reward we have a mining profit drop immediately after network power increase, without waiting for a price adjustment in the market, it is too fast, in my opinion this generate instability.

There are many possibility for incresing the block reward, but if the reward is proportional to difficulty we have a coin with predictable mining costs because the reward for a single rig becomes indipendent from the network power.

But how big of a time shift?  With difficulty adjusting per block, if they hit the coin, they may only be able to get a few blocks until the reward starts dropping.  So say they start mining and after 10 blocks the reward is cut and they only mine a bit more, don't you think that's better then them hitting the coin for hours on end?

Maybe I'm wrong though...

when the reward drops the pool stop mining, after some blocks the reward have to return to the initial value, it cannot drops indefinitely, the pool can restart mining repeating the cycle. Normal miners mined both high reward and low reward blocks, the pool only high reward blocks.
 

[homeiss]

"Pass the Flutter"
Rules and description on page 86
Halofire to Poogasm 500FLT No bonus
Poogasm to homeiss 501FLT No bonus
homeiss to cryptozilla 1001FLT No bonus

[Poogasm]

crap, sorry, I got a phone call and didn't hit post...

[Poogasm]

Do we keep sending in a circle until more players come along?

[Poogasm]

I'm still here, if no one else is.

[Poogasm]

FPc4LHGS8LNgK6bSWpe6sY7fsrgWWwDwUa

[seattletu]

this sounds fun. not sure how to hop in just yet, i'll post a flutter address and see what happens. i kind of think if you want to play you need to send 501 to someone first. not because i think people will steal 501 flutter, but more from a benign perspective, people have lives, tend to forget, etc etc. the game can easily break down if someone gets the 501 flutter and goes on vacation and doesn't send for a week, or maybe they lose their key, or their comp breaks down. if we have a constant rotation of everybody sending to everybody, the game doesn't have 1 point of failure for any single person.

just my 2 cents. here is my flutter, FJ1Ji4QZmyXt6NqBFyuo7rQrnpmogHC5P3 i'll send 501 to someone if that's what will be required before i can receive.

holla  

[seattletu]

FPc4LHGS8LNgK6bSWpe6sY7fsrgWWwDwUa

1000 FLT Sent.

wait, so are we adding 500 each time? i'm confused

[Poogasm]

FPc4LHGS8LNgK6bSWpe6sY7fsrgWWwDwUa

1000 FLT Sent.

wait, so are we adding 500 each time? i'm confused

no, it just got bumped up to 1000 for poops and giggles. and to be sure it is over the PoT threshold. I think.

[seattletu]

just got 1000 where should i send it?  

[Halofire]

nope, they added for their own reasons, i screwed up and only sent 500 and had to be 501. you can resend only what is sent to you, add some if ya feel like adding to your possible payout, no worries either way

as far as people going on vacation or whatever, the can always send it all back to me to be sent back out. my address is posted in my first post, I will edit it to say exactly what I said here. As far as computers breaking, shit happens. I'm sure we can find another donater at 501 FLT if the game should want to proceed.

[seattletu]

nope, they added for their own reasons, i screwed up and only sent 500 and had to be 501. you can resend only what is sent to you, add some if ya feel like adding to your possible payout, no worries either way

as far as people going on vacation or whatever, the can always send it all back to me to be sent back out. my address is posted in my first post, I will edit it to say exactly what I said here. As far as computers breaking, shit happens. I'm sure we can find another donater at 501 FLT if the game should want to proceed.

yeah, i know just having 1 set of coins floating around will make it simpler for everybody.

might be kind of fun to have a bunch going around, like a torrent. a fluttertorrent lol

like you said, let's keep it simple for now.

who wants this 1000 flutter?

[Poogasm]

"Pass the Flutter"
Rules and description on page 86
Halofire to Poogasm 500FLT No bonus
Poogasm to homeiss 501FLT No bonus
homeiss to cryptozilla 1001FLT No bonus
cryptozilla to Poogasm 1000FLT (no bonus on Poogasm's end)
Poogasm to seattletu 1000FLT  no bonus

ffs it is taking forever to confirm on my end. I only have three connections to the network now.

[seattletu]

Rules and description on page 86
Halofire to Poogasm 500FLT No bonus
Poogasm to homeiss 501FLT No bonus
homeiss to cryptozilla 1001FLT No bonus
cryptozilla to Poogasm 1000FLT (no bonus on Poogasm's end)
Poogasm to seattletu 1000FLT  no bonus
seattletu to halofire 1111

sent 1111 to halofire.

added him to my address book since i have a feeling we are gonna be using the same addresses quite a bit.

don't forget to use a new address for receiving coins so you know for sure it came from the game and not from mining.

[Halofire]

lol, sent to me? yay!  who wants them next?

[Halofire]

i edited the rules and description btw page 86 vacation clause lol

[Poogasm]

I'm still up.

[Halofire]

coming your way poogasm