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

I got one PoT reward in March, and that's all. It's very hard to get PoT, you should be extremely lucky. This is the reason I don't understand why some people praise it so much. Yes, theoretically it's great, yes, it's a new feature (and I like innovations), and yes, you might catch this PoT... some day, somewhere, somehow... but in general for me personally it's almost non-existent and unimportant.

As of now I'd give more praise to PoS than to PoT because PoS can bring you a real profit while PoT is just a lottery with a small prize, and this prize will get lower and lower with block reward halving because PoS gives you 50% of the current PoW block reward. Let's say, If you could possibly win a $10 prize once a year would it really matter to you?

I'd like to see PoT given some kind of sliding scale so that every transaction can pay back a tiny amount (even if it's just barely a few satoshis or fluttaishis or whatever) or you can elect to notch it up to larger payouts that are more and more random. That way if you want to take chances for fun, sure go for it and set it to 2500 FLT at max odds, or set it to 1 FLT at guaranteed odds - in both cases the minimum Xfer to qualify should be appropriate as well, i.e. the 1 FLT payout requires 100 FLT transfer. I realize that PoT is basically a kind of one-transaction-at-a-time iterative mining process so the randomness of PoT rewards is derived from the natural randomness of mining a block. Given this, a PoT peer to peer reward pool might need to exist to take large PoT rewards and pool them into payout streams in order to make PoT 'feel' more like a reward system and less like a lottery for those who aren't really into the chance reward concept (which I suspect is most people).

I agree with this statement that the PoT system needs to change to make it actually useful. I understand the concern about bots creating wallets and sending transactions back and forth 24/7 to trigger the PoT if it were made easier, but couldn't having some kind of Captcha recognition built in to mitigate that scenario?

No - PoT is determined by the mined block, and also this would eliminate all transactions originated via merchants.

But likely it will be made easier after the rewards drop - but the reward for PoT will also drop in turn - and the minimum transaction value will stay particularly high so transaction fees will eat up any potential rewards via automated systems.

Also, PoT usefulness is more than the reward's its more about security.

Perhaps you need to think of decoupling the PoT from the mined block...allow for more frequent rewards based on transactions so that it can gain more support to actually be used as a currency. If PoT were made more attractive, there'd be no reason not to use FLT like a currency and spend/receive. There is no other coin offering this benefit, but the way it is designed right now is not very effective for gaining interest in using it as a currency. In it's current format, it's way over hyped since so few ppl even receive a PoT reward...