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

[thekidcoin]

V2 will make POT rewards larger right?

Does it mean that coin supply will be larger than expected ? Could it be a reason why people are dumping right now?

No, supply not larger than expected, won't effect supply at all

[thekidcoin]

MANDATORY Release v0.4.5.6 fork(s) soft fork Wed, 14 May 2014 12:00:00  & hard fork Block 57,000
https://github.com/thekidcoin/fluttercoin/releases/tag/v0.4.5.6-flt

Changes:

-Proof of transaction v2
-Checkpoints
 
Windows
Zip https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-windows.zip
GPG Sig https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-windows.zip.asc
SHA256SUM https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-windows.zip.sha256

Linux
Tar https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-linux.tar
GPG https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-linux.tar.asc
SHA256SUM https://github.com/thekidcoin/fluttercoin/releases/download/v0.4.5.6-flt/fluttercoin-0.4.5.6-linux.tar.sha256

OSX
Coming Soon

[locogee]

from http://www.fluttercoin.us/fltbeta2/wp-content/uploads/2014/05/proof-of-transaction-v2-r.pdf :

Frequency vs Reward Percentage
 
In looking at the current state of proof-of-transaction rewards specifically, we found that
based on the difficulty, they occurred roughly every 200 blocks on average, with the payout
being 50% of the proof-of-work reward.
 
While the frequency of PoT cannot be predicted, it is my estimate that they will occur on
80% of blocks, so again considering 1000 blocks, 800 blocks would pay PoT rewards.
 
For example, if you take into consideration 1000 blocks, with a block reward of 20 FLT.
 
Current algo PoT payout per 1000 blocks = 100 FLT
Proposed algo PoT payout per 1000 blocks = 800 FLT

Won't increased frequency lead to increased POT reward overall? In that case, wouldn't that just mean that more coin will be created?

Maybe there is something I miss here..Could you explain it to me?

[thekidcoin]

from http://www.fluttercoin.us/fltbeta2/wp-content/uploads/2014/05/proof-of-transaction-v2-r.pdf :

Frequency vs Reward Percentage
 
In looking at the current state of proof-of-transaction rewards specifically, we found that
based on the difficulty, they occurred roughly every 200 blocks on average, with the payout
being 50% of the proof-of-work reward.
 
While the frequency of PoT cannot be predicted, it is my estimate that they will occur on
80% of blocks, so again considering 1000 blocks, 800 blocks would pay PoT rewards.
 
For example, if you take into consideration 1000 blocks, with a block reward of 20 FLT.
 
Current algo PoT payout per 1000 blocks = 100 FLT
Proposed algo PoT payout per 1000 blocks = 800 FLT

Won't increased frequency lead to increased POT reward overall? In that case, wouldn't that just mean that more coin will be created?

Maybe there is something I miss here..Could you explain it to me?

Nope, doesn't effect total coin production at all.

[etfgeek]

from http://www.fluttercoin.us/fltbeta2/wp-content/uploads/2014/05/proof-of-transaction-v2-r.pdf :

Frequency vs Reward Percentage
 
In looking at the current state of proof-of-transaction rewards specifically, we found that
based on the difficulty, they occurred roughly every 200 blocks on average, with the payout
being 50% of the proof-of-work reward.
 
While the frequency of PoT cannot be predicted, it is my estimate that they will occur on
80% of blocks, so again considering 1000 blocks, 800 blocks would pay PoT rewards.
 
For example, if you take into consideration 1000 blocks, with a block reward of 20 FLT.
 
Current algo PoT payout per 1000 blocks = 100 FLT
Proposed algo PoT payout per 1000 blocks = 800 FLT

Won't increased frequency lead to increased POT reward overall? In that case, wouldn't that just mean that more coin will be created?

Maybe there is something I miss here..Could you explain it to me?

Nope, doesn't effect total coin production at all.

well that settles it then :/   

[thekidcoin]

PoT rewards are tied into PoW rewards

[locogee]

Ok I see, I just re-read your first paper and saw where I had it wrong. POT reward is part of POW reward.

Truth is I never experienced POT & never mined FLT. I only bought and sold in many exchanges and I'm still holding some right now.

Can I ask what happens with POT when flutters are traded within an exchange or sent from an exchange to another (e.g for arbitrage) ?

I bet that my answer lies somewhere in the 212 pages but it would be faster if someone could just answer right..?

[thekidcoin]

Ok I see, I just re-read your first paper and saw where I had it wrong. POT reward is part of POW reward.

Truth is I never experienced POT & never mined FLT. I only bought and sold in many exchanges and I'm still holding some right now.

Can I ask what happens with POT when flutters are traded within an exchange or sent from an exchange to another (e.g for arbitrage) ?

I bet that my answer lies somewhere in the 212 pages but it would be faster if someone could just answer right..?

In v1 (which is live now) changes are slim for a PoT reward, though PoT security runs on all PoW blocks.  However, with PoT v2 which takes effect @ block 57,001, its possible to earn a reward easier when sending to single addresses.  So when sending/receiving from an exchange its a real possibility.  Large transactions with multiple addresses make rewards much harder with PoT v2.

[mikeymillie]

Ok I see, I just re-read your first paper and saw where I had it wrong. POT reward is part of POW reward.

Truth is I never experienced POT & never mined FLT. I only bought and sold in many exchanges and I'm still holding some right now.

Can I ask what happens with POT when flutters are traded within an exchange or sent from an exchange to another (e.g for arbitrage) ?

I bet that my answer lies somewhere in the 212 pages but it would be faster if someone could just answer right..?

Nothing happens when any coin is traded within an exchange.  Trades between holders on exchanges do not show up on FLT (or any other coin's) blockchain, thus do not generate PoT  rewards.  The exchanges just keep track of who owns what internally. 

However sending FLT to/from an exchange should generate a possible PoT reward. 

[locogee]

Ok, thx for the answers!

I really hope this coin succeeds because (I bought some at 680 lol) POT seems to be a great way to stimulate trading and hopefully economic activity in the future !

Cheers

[Franky2010]

Im in crypto for not a first day...and all, what I can say is, I like this coin so much, that Im going keep my coins in wallet and wait...this coin is good and will make profit...for sure! 

[chris20131111]

Wow, haven't checked on FLT since friday and it drops this low? Didn't think it would ever go below 1000 but that's ok. There may be some kind of massive pump incoming with prices this low. Either way I am still holding and don't plan on selling for a long time so if it goes down, then I guess i'll go down with the ship but I still believe this coin has potential and a lot more going for it than many of these other coins out there.


So how exactly is POT going to work? Will POT always be half of the block reward? So even when rewards are small say 20flt, then you will only be getting 10 flt for POT?

[Franky2010]

No doubt about it!
FLT will get stronger.
I'm not selling.

Me too, I will open my wallet for transfer coins to Mintpal, when FLT reach 2K...not selling before! Bought much cheaper, but we have great DEV, we have great coin...all, what we need to have, is coordinated way to move this coin forward. We need LEADER here on this forum - find some guy from here, right hand DEV...we need strong support for this coin on any place...Poloniex chat for example...we have to build FLT like name brand, not just one of crypto coins...this is safe harbor for safe investment, not one day profit pump-dump coin.

[thekidcoin]

Wow, haven't checked on FLT since friday and it drops this low? Didn't think it would ever go below 1000 but that's ok. There may be some kind of massive pump incoming with prices this low. Either way I am still holding and don't plan on selling for a long time so if it goes down, then I guess i'll go down with the ship but I still believe this coin has potential and a lot more going for it than many of these other coins out there.


So how exactly is POT going to work? Will POT always be half of the block reward? So even when rewards are small say 20flt, then you will only be getting 10 flt for POT?

Check out the v2 paper... White paper will be updated as well soon

[CryptoGuy2014]

If anyone is interested in buying things with FLT.

I will be selling Nintendo Wii units for 37500 FLT including shipping.

Original Wii, in black color with Wii sports and sports resort, units are brand new in box.

I have 6 available and shipping to Continental US included.

PM for info.

[gpuminer]

the very first thing to do is to get mutipool out of beta before its too late

[thekidcoin]

the very first thing to do is to get mutipool out of beta before its too late

+1 it needs to happen

[Wh1teKn1ght]

great job dev in making PoT a more attractive and marketable feature with v2!! Glad to see that you have listened to the concerns we had with v1!

[NJRiot]

a much needed upgrade, good job!
+1
multipool still in beta?

[dekdek]

great job dev in making PoT a more attractive and marketable feature with v2!! Glad to see that you have listened to the concerns we had with v1!

x2 great work , keep it up!