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Author Topic: [ANN] FlutterCoin FLT Proof Of Transaction Cash Back for Sending & Recieving  (Read 367567 times)
seattletu
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April 09, 2014, 05:36:01 AM
 #1961

So what would roughly be the number of total coins in both scenarios (7 day and 14 day)
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fedmahnkassad
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April 09, 2014, 06:42:35 AM
 #1962

If the change in reward is too drastic, people will accuse the coin of being essentially premined.

I think a linear decrease is good but we need more early adopters to really want to back the coin. Too fast a decrease will stifle the number of people that want to get in on the ground floor.


I agree and also one thing that I believe is hindering the price is the uncertainty around the total maximum number of coins. "roughly a minimum 500 million and maximum 5 billion" is too broad of a gap for the average Joe and probably most people treat this as if there will be 5 billion coins rather than 500 million.

On a side note what I find extremely attractive about this coin is the possibility of a PoB reward. As a shopper why would I want to buy with any other currency with no chance of getting a reward if I can buy with flutter and have the chance to win some coins? The same goes for money transfers as well. For me this is a huge usp for both online stores as well as consumers.
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April 09, 2014, 06:53:10 AM
 #1963

i think the number of coins is way more exact now that the block has gone static. when what you read was written, was when the reward was in a random range. so, it's outdated info.
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April 09, 2014, 07:31:55 AM
 #1964

i think the number of coins is way more exact now that the block has gone static. when what you read was written, was when the reward was in a random range. so, it's outdated info.

Cool, I hope it gets updated. So what is the max number atm?
seattletu
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April 09, 2014, 07:37:34 AM
Last edit: April 09, 2014, 07:52:58 AM by seattletu
 #1965

currently projected to be like 800 million for proof of work. but maybe less if kidcoin changes the reward structure, which is what is being discussed right now.
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April 09, 2014, 07:50:43 AM
 #1966

If the change in reward is too drastic, people will accuse the coin of being essentially premined.

I think a linear decrease is good but we need more early adopters to really want to back the coin. Too fast a decrease will stifle the number of people that want to get in on the ground floor.

I personally think the way to go is to decrease rewards every 7 days or 14 days - to ramp down production and still allow mining on a higher reward system for a while.  

So, here is my rough plan - and this will be the final protocol change hard fork save for possible stake changes down the road which can be done via soft forks I think.  

Preliminary (based on 7 day reductions):

Block 33,000: reward 2500
Block 35,500: reward 1250
Block 38,000: reward 625
Block 40,000: reward 312.50
Block 42,500: reward 156.25
Block 45,000: reward 78.125
Block 47,500: reward 39.0625
over Block 50,000: reward 20
halve the reward every 1 years afterwards

Preliminary (based on 14 day reductions):

Block 33,000: reward 2500
Block 38,000: reward 1250
Block 43,000: reward 625
Block 48,000: reward 312.50
Block 53,000: reward 156.25
Block 58,000: reward 78.125
Block 63,000: reward 39.0625
over Block 68,000: reward 20
halve the reward every 1 year afterwards









Perfect! Smiley Either 7 days or 14 is fantastic.
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April 09, 2014, 08:13:06 AM
 #1967





Hey everyone!
Come join us at the thread above to play a neat game where you could win 2500 FLT! The game is designed to show how Fluttercoin's PoT feature works. Check it out! Tell your friends, tweet and FB too! Good luck!

OC Development - oZwWbQwz6LAkDLa2pHsEH8WSD2Y3LsTgFt
SMC Development - SgpYdoVz946nLBF2hF3PYCVQYnuYDeQTGu
Friendly reminder: Back up your wallet.dat files!!
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April 09, 2014, 09:41:15 AM
 #1968

currently projected to be like 800 million for proof of work. but maybe less if kidcoin changes the reward structure, which is what is being discussed right now.

Thanks. Considering the current absurdly low market cap, I think the changes will be good even if they make some people start talking about premine (same issue that Darkcoin is facing at the moment).
seattletu
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April 09, 2014, 09:47:57 AM
 #1969

currently projected to be like 800 million for proof of work. but maybe less if kidcoin changes the reward structure, which is what is being discussed right now.

Thanks. Considering the current absurdly low market cap, I think the changes will be good even if they make some people start talking about premine (same issue that Darkcoin is facing at the moment).

yeah i've been thinking about it more...it's not really a premine anyone could have mined it for quite a while now. a premine is a coin that has literally been mined before the public has access to mining it. which isn't the case with this coin.

a lot of activity on bter, i wonder if it's because of this thread?
seattletu
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April 09, 2014, 10:01:16 AM
 #1970

i still think if the coin paid out much less on a PoT, but it happened much more often, you would have people getting interested in it more. it would have the positive reinforcement effect that a slot machine has.

i know it's not feasible in the code to do it that way, but it would really work if it was possible.
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April 09, 2014, 11:00:10 AM
 #1971

i still think if the coin paid out much less on a PoT, but it happened much more often, you would have people getting interested in it more. it would have the positive reinforcement effect that a slot machine has.

i know it's not feasible in the code to do it that way, but it would really work if it was possible.

I am happy with the low price because it allows me to buy 100k here and there and hold them. And to be honest this is the first coin that I am actually interested in holding and spending and not trading ('cause of PoT/PoB). I just hope in the future more merchants warm up to the idea of accepting flutter and getting some extra rewards in the process.
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April 09, 2014, 11:09:42 AM
 #1972

There is going to be a big pump of FLT getting BIG rumours of a russian team that pumped MINT and FAC. It would be best to buy more as they poured in 30BTCs in Mintcoin and 50BTCs in FAC increasing it 6 fold. Check out my posts to see how legit i am. Where i go the money goes.
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April 09, 2014, 11:22:35 AM
 #1973

There is going to be a big pump of FLT getting BIG rumours of a russian team that pumped MINT and FAC. It would be best to buy more as they poured in 30BTCs in Mintcoin and 50BTCs in FAC increasing it 6 fold. Check out my posts to see how legit i am. Where i go the money goes.

If a great coin like this one falls below 70k market cap it becomes a great target for pump and dumpers unfortunately.
Collegestudent
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April 09, 2014, 11:45:14 AM
 #1974

There is going to be a big pump of FLT getting BIG rumours of a russian team that pumped MINT and FAC. It would be best to buy more as they poured in 30BTCs in Mintcoin and 50BTCs in FAC increasing it 6 fold. Check out my posts to see how legit i am. Where i go the money goes.

If a great coin like this one falls below 70k market cap it becomes a great target for pump and dumpers unfortunately.

This one will be a pump and hold tho. It will be the BC train shooting 20x leaving others speechless
seattletu
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April 09, 2014, 11:56:25 AM
 #1975

Hi college,

When is this supposed to happen, and why are you telling us?
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April 09, 2014, 12:53:44 PM
 #1976

i think the number of coins is way more exact now that the block has gone static. when what you read was written, was when the reward was in a random range. so, it's outdated info.

Cool, I hope it gets updated. So what is the max number atm?
Like 2.6 billion max ATM but less because of POS (POS blocks count towards the block count)

1MYL967PR52xiNtqSP9WphRvPzKZDjBdxn
thekidcoin
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April 09, 2014, 12:55:32 PM
 #1977

There is going to be a big pump of FLT getting BIG rumours of a russian team that pumped MINT and FAC. It would be best to buy more as they poured in 30BTCs in Mintcoin and 50BTCs in FAC increasing it 6 fold. Check out my posts to see how legit i am. Where i go the money goes.
This is true, been hearing whispers of a pump

1MYL967PR52xiNtqSP9WphRvPzKZDjBdxn
thekidcoin
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April 09, 2014, 12:57:30 PM
 #1978

i still think if the coin paid out much less on a PoT, but it happened much more often, you would have people getting interested in it more. it would have the positive reinforcement effect that a slot machine has.

i know it's not feasible in the code to do it that way, but it would really work if it was possible.

It could be done and it would likely be nearly every block.  Reward would have to be very small

1MYL967PR52xiNtqSP9WphRvPzKZDjBdxn
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April 09, 2014, 01:00:33 PM
 #1979

thekidcoin, what about changing from Scrypt to x11 for example, is this possible?
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April 09, 2014, 01:04:55 PM
 #1980

Maybe we fork in 2 weeks to halve every 7 days for a few months ?

1MYL967PR52xiNtqSP9WphRvPzKZDjBdxn
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