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

[seattletu]

Interesting. Maybe I'm not thinking about it clearly enough. I need to wake up and then actually use my noggin

[thekidcoin]

Peercoin's rewards based on nBits...

Code:

int64 GetProofOfWorkReward(unsigned int nBits)
{
    CBigNum bnSubsidyLimit = MAX_MINT_PROOF_OF_WORK;
    CBigNum bnTarget;
    bnTarget.SetCompact(nBits);
    CBigNum bnTargetLimit = bnProofOfWorkLimit;
    bnTargetLimit.SetCompact(bnTargetLimit.GetCompact());

    // ppcoin: subsidy is cut in half every 16x multiply of difficulty
    // A reasonably continuous curve is used to avoid shock to market
    // (nSubsidyLimit / nSubsidy) ** 4 == bnProofOfWorkLimit / bnTarget
    CBigNum bnLowerBound = CENT;
    CBigNum bnUpperBound = bnSubsidyLimit;
    while (bnLowerBound + CENT <= bnUpperBound)
    {
        CBigNum bnMidValue = (bnLowerBound + bnUpperBound) / 2;
        if (fDebug && GetBoolArg("-printcreation"))
            printf("GetProofOfWorkReward() : lower=%"PRI64d" upper=%"PRI64d" mid=%"PRI64d"\n", bnLowerBound.getuint64(), bnUpperBound.getuint64(), bnMidValue.getuint64());
        if (bnMidValue * bnMidValue * bnMidValue * bnMidValue * bnTargetLimit > bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnTarget)
            bnUpperBound = bnMidValue;
        else
            bnLowerBound = bnMidValue;
    }

    int64 nSubsidy = bnUpperBound.getuint64();
    nSubsidy = (nSubsidy / CENT) * CENT;
    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfWorkReward() : create=%s nBits=0x%08x nSubsidy=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nBits, nSubsidy);

    return min(nSubsidy, MAX_MINT_PROOF_OF_WORK);
}

[Jesse Livermore]

yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.

I think you're right except the multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.

Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.


JL

edited: typo.

[seattletu]

I called this drop although I'm hating it.

I keep thinking, It could be that there will be billions of coins! Like I said simple economics is, more supply equals less demand equals lower price. There will be more than 2 billion coins by the end of this year. It's not rare... Especially in the ALT market.

This drop could also be from the stupid china news and how bitcoin is dropping. Most are trying to go to safe haven by changing it to fiat or actually buy bitcoin while It's on the cheaper end. I've been hearing $350s?

Well you have to remember that when the network hasrhrate goes lower, you get more coins when mining. When bter added flutter to their exchange and the hashrate went way up, my 15mh was getting about 8-10k coins per day. Now I'm getting about 25-30k coins per day.

Same amount of coins being generated per day, just not enough buyers right now.

I'm really surprised proof of transaction hasn't caught on more.

Kidcoin, what if the reward for pot was lower, and hit more often? Think that would gain more interest?

[seattletu]

yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.

I think you're right except. The multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.

Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.


JL

Well, maybe. If he is putting in so much effort, he should just trade at bter, there's 10x more trading volume there. Mintpal has slowed down a lot.

[seattletu]

Bter price seems to be rebounding a bit. The price moves over a wide range during the day. Big volume buys and sells 

[Jesse Livermore]

yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.

I think you're right except. The multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.

Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.


JL

Well, maybe. If he is putting in so much effort, he should just trade at bter, there's 10x more trading volume there. Mintpal has slowed down a lot.

Very true, good point.

[thekidcoin]

yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.

I think you're right except the multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.

Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.


JL

edited: typo.

100% accurate.

[kikeda]

yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.

I think you're right except the multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.

Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.


JL

edited: typo.

+1 its really hard to maintain a coins growth if there's a multipool constantly converting flt/btc considering multipools already own around 50-60% of the network hash everyday and those coins will eventually get dumped in a short amount of time. Kid wouldn't want to change the algo, but i hope he will come up with something to prevent multipools.

[homeiss]

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.

[seattletu]

+1 its really hard to maintain a coins growth if there's a multipool constantly converting flt/btc considering multipools already own around 50-60% of the network hash everyday and those coins will eventually get dumped in a short amount of time. Kid wouldn't want to change the algo, but i hope he will come up with something to prevent multipools.

If they want to dump, let em. Its just inexpensive coin to pick up.

Flutter has a small market cap. Until people start hearing about it and get interested in it, it doesn't matter if multipools hold or dump.

Flutter just needs to spread its wings and fly. With a little marketing 

[seattletu]

well obviously it needs to be focused on proof of transaction feature

[seattletu]

hey moonpool did you see block 22300 solved by mr undestroyable? 0.00% and 2 actual shares. holy shit lol

[moonpool]

flutter.miningwith.us

hey moonpool did you see block 22300 solved by mr undestroyable? 0.00% and 2 actual shares. holy shit lol

Yeah, he solved it extremely quickly after another block was found.

[CryptoAddict]

Getting this message in wallet..

"WARNING! Invalid checkpoint found! Displayed transactions may not be correct! You may need to upgrade, or notify developers."

My wallet is latest version and re-installing it didn't help.

[seattletu]

looks like the ban in china is going into effect. i wonder if we will see a lot more fluttercoin volume on mintpal instead of bter

[pictsidhe]

fluttercoin has died for me, the daemon it got to about block 21650 (can't remember exact number) and then went off on it's own fork, with 15MHash. I've tried changing addnode to connect, deleting everyhting but wallet and conf and now it is stuck on 0, with no connections, sometimes it blips 1 connection, then loses it, it's been a few days now. I've read through a zillion posts looking for a fix and changed the dnsseed, but that hasn't helped.  "ip" : "0.0.0.0" is somewhat suspicious, has my client stopped talking to the world?
My other coin wallets seem fine. I like the look of this coin, but if it's going to wander off on a  fork and lose the ability to keep the wallet up to date, I think I'm out.

 "version" : "v0.4.5.3-ga-beta",
    "protocolversion" : 70005,
    "walletversion" : 60000,
    "balance" : 0.00000000,
    "newmint" : 0.00000000,
    "stake" : 0.00000000,
    "blocks" : 0,
    "timeoffset" : 0,
    "moneysupply" : 0.00000000,
    "connections" : 0,
    "proxy" : "",
    "ip" : "0.0.0.0",
    "difficulty" : {
        "proof-of-work" : 0.00024414,
        "proof-of-stake" : 0.00024414
    },
    "testnet" : false,
    "keypoololdest" : 1395858196,
    "keypoolsize" : 102,
    "paytxfee" : 0.01000000,
    "mininput" : 0.01000000,
    "errors" : ""

rpcuser=pictsidhe
rpcpassword=password
rpcallowip=127.0.0.1
rpcallowip=192.168.2.11*
rpcallowip=192.168.2.100
connect=54.203.244.170
connect=54.203.244.27
connect=54.199.237.235
noirc=1
listen=1
dnsseed=0
server=1

[cryptohunter]

looks like the ban in china is going into effect. i wonder if we will see a lot more fluttercoin volume on mintpal instead of bter

which ban? i thought that was just rumour?

[Invisible Hands]

Did this coin recently fork?

[Painful Truth]

Getting this message in wallet..

"WARNING! Invalid checkpoint found! Displayed transactions may not be correct! You may need to upgrade, or notify developers."

My wallet is latest version and re-installing it didn't help.

Might be a fork.

I would backup my wallet.dat, delete the blockchain and let it re-sync.