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

[seattletu]

If someone made a really cool logo that we decided to switch to, then yeah we could donate. But if it ain't broke don't fix it. Or at least don't pay to fix it when you could pay for other things.

I wonder how much cryptocoinnews charges for articles?

[seattletu]

Even tho the price is down on bter, there aren't many coins for sale. People are still holding. 61 million coins held by bter, hardly any for sale.

[Halofire]

this coin won't be realized until it gets merchants and people start using FLT.

[seattletu]

this coin won't be realized until it gets merchants and people start using FLT.

yep. we should make a game out of trying to hit a POT reward, maybe some new forum members would join in.

[YoyodyneSystems]

Just a note to you guys. You are doing a great job and don't let today's price and market get you down.
Everything is getting smashed today and the whole last week or so.

I would admit though that finding a way to reduce block rewards or restricting multipools and what not is always good for value.
The reality is that in Crypto unfortunately that price is actually rather important to getting attention.

If you combine great innovation with value then the world beats a path to your door.
As it has always been with technology.

[Halofire]

Little game called ''pass the flutter''. Requires nuthin' but honesty to play. seattletu, post your address, ill send ya 250 FLT, if you're game.

Keep a log going, the person who receives the FLT should cut and paste where it came from rather than quoting for message space reasoning. Don't want entire thread space taken up because of the game

So, like this:

Halofire to seattletu 250 FLT (then write) BONUS or NO BONUS.
seattletu to (whoever) 250 FLT BONUS or NO BONUS.


Best part is it won't cost anybody anything except tiny transaction fee for a chance to receive 500 FLT = 2x the amount of FLT sent. People could add to it as well if they want a chance to get even more FLT back! How you drum up the next person is up to you. You can send to a person who has had the flutters before, too! I just ask, seattletu, that you'd send them forward and not back to me. I could write something up better for the game when it's 'go' time, directions and such.

So... you game?

[bitcoinrocks]

I think that's a fantastic idea.

[homeiss]

Little game called ''pass the flutter''. Requires nuthin' but honesty to play. seattletu, post your address, ill send ya 250 FLT, if you're game.

Keep a log going, the person who receives the FLT should cut and paste where it came from rather than quoting for message space reasoning. Don't want entire thread space taken up because of the game

So, like this:

Halofire to seattletu 250 FLT (then write) BONUS or NO BONUS.
seattletu to (whoever) 250 FLT BONUS or NO BONUS.


Best part is it won't cost anybody anything except tiny transaction fee for a chance to receive 500 FLT = 2x the amount of FLT sent. People could add to it as well if they want a chance to get even more FLT back! How you drum up the next person is up to you. You can send to a person who has had the flutters before, too! I just ask, seattletu, that you'd send them forward and not back to me. I could write something up better for the game when it's 'go' time, directions and such.

So... you game?

I like this idea and I'm in as well but the minimum a transaction can be to be considered for the POT is 500 FLT or more. I can get this party started, I don't mind throwing in 500 FLT for this.

[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.

The idea of drop reward when big multipool hits the coin is not as good as it looks because the network can react only after the multipool mined some blocks. There is a time shift between the time a multipool starts mining the coin and the time of reward drop. Doing an intermittent mining, this timeshift can be exploited by the multipool to lower the average reward generating fluctuating block reward, and mine only higher reward blocks.

I thought many days about a way to discourage multipools but my conclusion is that the only way is the opposite: encourage the multipool (and other miners) to continue mining the coin, leaving the stabilization to the market.
I think that if the block reward would grow with the difficulty, the coin would be more stable. This cause an offer increase in the market, the price will adjust accordingly and the mining profit change, so miners and multipools can join or leave the coin accordingly. This is a longer cycle that can generate a smoother fluctuation. With actual fixed block reward we have a mining profit drop immediately after network power increase, without waiting for a price adjustment in the market, it is too fast, in my opinion this generate instability.

There are many possibility for incresing the block reward, but if the reward is proportional to difficulty we have a coin with predictable mining costs because the reward for a single rig becomes indipendent from the network power.

Interesting, I never thought about that. Yes, it would take time for the network to adjust the black rewards and by then the multipool might already mining something else. Not sure how fast the network would be able to detect the increase in hash and adjust the block reward. Sometimes the multipools mine a few blocks but sometimes they just hit us for one block and go on their way.

It seems like the only way to truly stop them is to switch the algorithm. Too bad.

[bitcoinrocks]

Can I play if all I have is my exchange address?

[Poogasm]

Can I play?

FPc4LHGS8LNgK6bSWpe6sY7fsrgWWwDwUa

[homeiss]

Can I play if all I have is my exchange address?

You should download the wallet. That way you won't get hit with withdraw fees when you send to other people...

[bullgates]

I'll play...

[YoyodyneSystems]

Little game called ''pass the flutter''. Requires nuthin' but honesty to play. seattletu, post your address, ill send ya 250 FLT, if you're game.

Keep a log going, the person who receives the FLT should cut and paste where it came from rather than quoting for message space reasoning. Don't want entire thread space taken up because of the game

So, like this:

Halofire to seattletu 250 FLT (then write) BONUS or NO BONUS.
seattletu to (whoever) 250 FLT BONUS or NO BONUS.


Best part is it won't cost anybody anything except tiny transaction fee for a chance to receive 500 FLT = 2x the amount of FLT sent. People could add to it as well if they want a chance to get even more FLT back! How you drum up the next person is up to you. You can send to a person who has had the flutters before, too! I just ask, seattletu, that you'd send them forward and not back to me. I could write something up better for the game when it's 'go' time, directions and such.

So... you game?

Maybe someone can make a simple page off of this thread?
You won't want to get banned for the "no giveaway rules" on the site here. I have seen bans for stuff like that.

[thekidcoin]

Little game called ''pass the flutter''. Requires nuthin' but honesty to play. seattletu, post your address, ill send ya 250 FLT, if you're game.

Keep a log going, the person who receives the FLT should cut and paste where it came from rather than quoting for message space reasoning. Don't want entire thread space taken up because of the game

So, like this:

Halofire to seattletu 250 FLT (then write) BONUS or NO BONUS.
seattletu to (whoever) 250 FLT BONUS or NO BONUS.


Best part is it won't cost anybody anything except tiny transaction fee for a chance to receive 500 FLT = 2x the amount of FLT sent. People could add to it as well if they want a chance to get even more FLT back! How you drum up the next person is up to you. You can send to a person who has had the flutters before, too! I just ask, seattletu, that you'd send them forward and not back to me. I could write something up better for the game when it's 'go' time, directions and such.

So... you game?

Here are the rules:

http://www.fluttercoin.us/fluttercoin/wp-content/uploads/2014/03/Proof-of-Transaction.pdf

[thekidcoin]

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.

The idea of drop reward when big multipool hits the coin is not as good as it looks because the network can react only after the multipool mined some blocks. There is a time shift between the time a multipool starts mining the coin and the time of reward drop. Doing an intermittent mining, this timeshift can be exploited by the multipool to lower the average reward generating fluctuating block reward, and mine only higher reward blocks.

I thought many days about a way to discourage multipools but my conclusion is that the only way is the opposite: encourage the multipool (and other miners) to continue mining the coin, leaving the stabilization to the market.
I think that if the block reward would grow with the difficulty, the coin would be more stable. This cause an offer increase in the market, the price will adjust accordingly and the mining profit change, so miners and multipools can join or leave the coin accordingly. This is a longer cycle that can generate a smoother fluctuation. With actual fixed block reward we have a mining profit drop immediately after network power increase, without waiting for a price adjustment in the market, it is too fast, in my opinion this generate instability.

There are many possibility for incresing the block reward, but if the reward is proportional to difficulty we have a coin with predictable mining costs because the reward for a single rig becomes indipendent from the network power.

But how big of a time shift?  With difficulty adjusting per block, if they hit the coin, they may only be able to get a few blocks until the reward starts dropping.  So say they start mining and after 10 blocks the reward is cut and they only mine a bit more, don't you think that's better then them hitting the coin for hours on end?

Maybe I'm wrong though...

[Poogasm]

Little game called ''pass the flutter''. Requires nuthin' but honesty to play. seattletu, post your address, ill send ya 250 FLT, if you're game.

Keep a log going, the person who receives the FLT should cut and paste where it came from rather than quoting for message space reasoning. Don't want entire thread space taken up because of the game

So, like this:

Halofire to seattletu 250 FLT (then write) BONUS or NO BONUS.
seattletu to (whoever) 250 FLT BONUS or NO BONUS.


Best part is it won't cost anybody anything except tiny transaction fee for a chance to receive 500 FLT = 2x the amount of FLT sent. People could add to it as well if they want a chance to get even more FLT back! How you drum up the next person is up to you. You can send to a person who has had the flutters before, too! I just ask, seattletu, that you'd send them forward and not back to me. I could write something up better for the game when it's 'go' time, directions and such.

So... you game?

Here are the rules:

http://www.fluttercoin.us/fluttercoin/wp-content/uploads/2014/03/Proof-of-Transaction.pdf

I just got some sent to me, (I think), who do I send to now? just back to teh same address or?

[Halofire]

i won't get banned for the FLT game, its not a give-a-way, it's a game. isn't much happening here anyway, besides it attracts people. it's an example for PoT
 
Ok here it is:

I just sent 500 FLT to Poogasm to start this whole thing off since s/he was first to post an address. Lucky you! Pass it along and count you confirmations, lol.



"Pass the Flutter"
A game to show how the PoT function of the FLT works. Ya don't need anything to play, just honesty and a tiny bit (.01) of FLT for a transaction fee, but you get the chance to receive more than you're spending. How to play: just find a someone send the FLT you are given, hopefully you win the PoT bonus. Simple as pie. I am providing the initial 500FLT, feel free to add more if you want to increase your payout. You can send to a person that's already gotten the FLT or the reward, just no direct backsie's if you can help it. See link for a list of PoT specifications, provided by thekidcoin:
http://www.fluttercoin.us/fluttercoin/wp-content/uploads/2014/03/Proof-of-Transaction.pdf
Just add your name to the list. Only rule: please cut and paste, NO QUOTING, for message length reasons, if the message does get too long, please include the number of the page of where you are leaving off/starting from.  GOOD LUCK!!!
My address: FDoeoM5mj4ta8hzYv52DoYZqos42q4Boik

Copy and paste this:

"Pass the Flutter"
Rules and description on page 86
Halofire to Poogasm 500FLT No bonus
Poogasm to _______ 500FLT


EDIT: We'd like you to hold the coins as short of time as possible, generally speaking. It has come to my attention that some people may get game coins that need to be moved ASAP. For example, someone is going on vacation, going to bed, or can't get to computer for days.  Please send the coins back to my address above and I will ensure they get sent back out. I cannot guarantee the coins will be re-issued quickly, as I need sleep and work too, but as soon as I am able to re-issue, I will, and that is my guarantee.

[Halofire]

Anyone else who wants to play, post your addresses with ''pass the flutter'' before it.

[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.

The idea of drop reward when big multipool hits the coin is not as good as it looks because the network can react only after the multipool mined some blocks. There is a time shift between the time a multipool starts mining the coin and the time of reward drop. Doing an intermittent mining, this timeshift can be exploited by the multipool to lower the average reward generating fluctuating block reward, and mine only higher reward blocks.

I thought many days about a way to discourage multipools but my conclusion is that the only way is the opposite: encourage the multipool (and other miners) to continue mining the coin, leaving the stabilization to the market.
I think that if the block reward would grow with the difficulty, the coin would be more stable. This cause an offer increase in the market, the price will adjust accordingly and the mining profit change, so miners and multipools can join or leave the coin accordingly. This is a longer cycle that can generate a smoother fluctuation. With actual fixed block reward we have a mining profit drop immediately after network power increase, without waiting for a price adjustment in the market, it is too fast, in my opinion this generate instability.

There are many possibility for incresing the block reward, but if the reward is proportional to difficulty we have a coin with predictable mining costs because the reward for a single rig becomes indipendent from the network power.

But how big of a time shift?  With difficulty adjusting per block, if they hit the coin, they may only be able to get a few blocks until the reward starts dropping.  So say they start mining and after 10 blocks the reward is cut and they only mine a bit more, don't you think that's better then them hitting the coin for hours on end?

Maybe I'm wrong though...

Well I've been following the stats page on the wafflepool website and while sometimes they mine a bunch of blocks in a row a lot of times they will just mine one block and then a few blocks from other coins and just jump around back and forth. So you might only be hurting the loyal miners while the multipools jump on and off the network. Would there be anyway to replicate a multipool jumping on and off if you tried writing this code and setting up a fluttercoin test net?