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

[chris20131111]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

LoL, I believe in Fluttercoin but no way would I sell all my coins im holding and dump into one coin only. Unless they are pointless P & D coins that you know will never be around for the long term.

[apcoins]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

[dekdek]

300 members giveaway at http://fluttercointalk.com/  
15 prizes of 2,000 FLT!  
84 to go! Enjoy 

[kikeda]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

[zitaox]

let me see what  would happan this friday

[FreebieZoner]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

 

All this wait for announcement is getting kind of tiring, just announce the freaking development already.

[imbecileee]

[dekdek]

[SwedishGirl]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

He has already said that he's working on the first ever android wallet with working PoS. He's also said that coin maturity time will be decreased and PoT will also work on top of PoS. He also hinted that PoW could now be removed completely. For his MAJOR ann on Friday I am really hoping for something that was not already mentioned or I will be disappointed

[EL_Sago]

i have a feeling TheKidCoin will not disappoint us

[CryptoAddict]

Does Proof-of-Transaction have any potential for real useful application?

I mean, is the purpose of this algorithm just to be some kind of game where people send FLT to each other back and forth ?

whats stopping one individual from setting up several wallets and adresses and just send his own coins between them?

The way PoT is designed now seems to encourage this type of foul play

[WompRat]

Does Proof-of-Transaction have any potential for real useful application?

I mean, is the purpose of this algorithm just to be some kind of game where people send FLT to each other back and forth ?

whats stopping one individual from setting up several wallets and adresses and just send his own coins between them?

The way PoT is designed now seems to encourage this type of foul play

This is usually the first thing everyone asks and is discussed in the faqs.  The short answer is that this type of activity is supposed to disqualify you from proof of transaction rewards, but cost you a transaction fee.  I am not sure how substantially tested this is though.

I am starting to become increasingly sure that PoW is a major fuck up, maybe not in conception, but in actuality leads toward centralisation of mining, centralised points of failure, coins eating each other for hash rate and transaction fees becoming unsustainably high as block rewards halve and miners struggle to make a profit.   PoS is not much better with the added disadvantage that there are very few incentives for new entrants

I am trying to find out more about proof of transaction because it may be the one thing that can keep this crypto bubble afloat. 

[SwedishGirl]

Does Proof-of-Transaction have any potential for real useful application?

I mean, is the purpose of this algorithm just to be some kind of game where people send FLT to each other back and forth ?

whats stopping one individual from setting up several wallets and adresses and just send his own coins between them?

The way PoT is designed now seems to encourage this type of foul play

Of course it's useful. Just imagine merchants accepting payments in FLT and just by doing that, they get all their fees back as well as some extra coins on top. Now imagine you are a merchant that operates on a 5% profit margin and is paying 2% fees for credit cards. You can increase your profits by 40% for every buyer that chooses to pay you in FLT instead of CC. As a buyer you also get the chance to get some money back by hitting a PoT block when you make your purchase, so that is an extra incentive to choose FLT and not some other payment option.

As for gaming the system, it was already discussed and it's not possible to cheat as this disqualifies you from PoT. A lot of people have tried and so far nobody has succeeded.

PoT is nothing like a game to encourage people to send FLT to each other. It's designed as an economical stimulus for both buyers and sellers as well as an extra layer of block-chain security.

[kikeda]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

He has already said that he's working on the first ever android wallet with working PoS. He's also said that coin maturity time will be decreased and PoT will also work on top of PoS. He also hinted that PoW could now be removed completely. For his MAJOR ann on Friday I am really hoping for something that was not already mentioned or I will be disappointed

LOL same here..

[ofeefee]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

 

All this wait for announcement is getting kind of tiring, just announce the freaking development already.

+1

[chris20131111]

Anyone elses wallet stop syncing at block 77629?

[chris20131111]

Nevermind, somehow my time got changed on my computer when I had a power outage last night.

[CryptoAddict]

Does Proof-of-Transaction have any potential for real useful application?

I mean, is the purpose of this algorithm just to be some kind of game where people send FLT to each other back and forth ?

whats stopping one individual from setting up several wallets and adresses and just send his own coins between them?

The way PoT is designed now seems to encourage this type of foul play

Of course it's useful. Just imagine merchants accepting payments in FLT and just by doing that, they get all their fees back as well as some extra coins on top. Now imagine you are a merchant that operates on a 5% profit margin and is paying 2% fees for credit cards. You can increase your profits by 40% for every buyer that chooses to pay you in FLT instead of CC. As a buyer you also get the chance to get some money back by hitting a PoT block when you make your purchase, so that is an extra incentive to choose FLT and not some other payment option.

As for gaming the system, it was already discussed and it's not possible to cheat as this disqualifies you from PoT. A lot of people have tried and so far nobody has succeeded.

PoT is nothing like a game to encourage people to send FLT to each other. It's designed as an economical stimulus for both buyers and sellers as well as an extra layer of block-chain security.

I can see how it could be useful in theory, and one of the reasons i'm investigating more is that i'm considering adding FLT as a payment option to a ecommerce project im working on. Main problem is obviously the fact that average joe has no idea wtf FLT is and even less idea how to convert $ to FLT. Ideal scenario would be if customer can pay in $ and it gets converted  FLT and sent to my wallet.. but in such a way so the customer doesn't have to leave my site.. basically, whats really needed is a payment gateway like the one bitpay offers, but for FLT..  or maybe it's possible to somehow use bitpay and auto-trade the coins for FLT, but i'm not sure if this process would be effective with PoT.. any ideas?

PoT is nothing like a game to encourage people to send FLT to each other. It's designed as an economical stimulus for both buyers and sellers as well as an extra layer of block-chain security.

I'm pretty sure i saw this kind of gaming going on here, maybe even in this thread actually.. Maybe the intention is not to encourage that behavior, but if it's possible and worth it then people will do it and I can't blame them, problem lies in it being possible in the first place. Though I have no clue if whatever they had going on was worth it.

Fluttercoin website has this in the PoT FAQ:

"In order to protect the integrity of the proof-of-transaction reward system, certain limits are in place. Only a limited number of tx's are considered, and within each tx, only a limited number of addresses are considered.  This makes generated automated proof-of-transaction rewards nearly impossible without a great deal of luck."

So there is no protection if someone just creates a new adress for each transaction ?

[chris20131111]

Does Proof-of-Transaction have any potential for real useful application?

I mean, is the purpose of this algorithm just to be some kind of game where people send FLT to each other back and forth ?

whats stopping one individual from setting up several wallets and adresses and just send his own coins between them?

The way PoT is designed now seems to encourage this type of foul play

Of course it's useful. Just imagine merchants accepting payments in FLT and just by doing that, they get all their fees back as well as some extra coins on top. Now imagine you are a merchant that operates on a 5% profit margin and is paying 2% fees for credit cards. You can increase your profits by 40% for every buyer that chooses to pay you in FLT instead of CC. As a buyer you also get the chance to get some money back by hitting a PoT block when you make your purchase, so that is an extra incentive to choose FLT and not some other payment option.

As for gaming the system, it was already discussed and it's not possible to cheat as this disqualifies you from PoT. A lot of people have tried and so far nobody has succeeded.

PoT is nothing like a game to encourage people to send FLT to each other. It's designed as an economical stimulus for both buyers and sellers as well as an extra layer of block-chain security.

I can see how it could be useful in theory, and one of the reasons i'm investigating more is that i'm considering adding FLT as a payment option to a ecommerce project im working on. Main problem is obviously the fact that average joe has no idea wtf FLT is and even less idea how to convert $ to FLT. Ideal scenario would be if customer can pay in $ and it gets converted  FLT and sent to my wallet.. but in such a way so the customer doesn't have to leave my site.. basically, whats really needed is a payment gateway like the one bitpay offers, but for FLT..  or maybe it's possible to somehow use bitpay and auto-trade the coins for FLT, but i'm not sure if this process would be effective with PoT.. any ideas?

PoT is nothing like a game to encourage people to send FLT to each other. It's designed as an economical stimulus for both buyers and sellers as well as an extra layer of block-chain security.

I'm pretty sure i saw this kind of gaming going on here, maybe even in this thread actually.. Maybe the intention is not to encourage that behavior, but if it's possible and worth it then people will do it and I can't blame them, problem lies in it being possible in the first place. Though I have no clue if whatever they had going on was worth it.

Fluttercoin website has this in the PoT FAQ:

"In order to protect the integrity of the proof-of-transaction reward system, certain limits are in place. Only a limited number of tx's are considered, and within each tx, only a limited number of addresses are considered.  This makes generated automated proof-of-transaction rewards nearly impossible without a great deal of luck."

So there is no protection if someone just creates a new adress for each transaction ?

About the payment part, isin't that why we all voted to get FLT on coinpayments.net? So people can pay with FLT easily?

The part about trying to game the PoT system. That game we were playing was a long time ago when PoT wasn't nearly as easy as it is now and also the rewards were a lot higher back then. We all were sending 501 FLT back and forth and to my knowledge, no one ever hit PoT at all with all those exchanges. PoT has since been updated where its a lot easier to get PoT now but with a way smaller reward and Kidcoin also said he made it even more harder to game the system so in general, I don't think anyone will be able to game the PoT system at all. Not to mention the reward is not very much and you would end up spending more in transfer fees than you would in getting PoT. Maybe Kidcoin can explain further but its already been discussed multiple times throughout the thread so he may not.

[soltantgris]

My friend called me and told me to sell everything to buy flutter before Friday. What is this announcement about on Friday?

Why don't you ask your friend?

Just did, Andriod wallet he says.

Only kid knows..

He has already said that he's working on the first ever android wallet with working PoS. He's also said that coin maturity time will be decreased and PoT will also work on top of PoS. He also hinted that PoW could now be removed completely. For his MAJOR ann on Friday I am really hoping for something that was not already mentioned or I will be disappointed

Not sure why you would be disapointed because those move are powerful.  The end of PoW alone is very nice I would say.  No need to try to overhype with invented "future" bullshit like many devs do.  Ok, I admit, I would enjoy if the Kid annonce that they hired Nathalie Portman to promote FLT.