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

[fedmahnkassad]

So how does a 51% attack work on PoW/PoS coin? You need to have both 51% of PoW and PoS power? Can you for example 51% a PoW/PoS coin by having just 51%+ of the PoW hashrate?

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[Halofire]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

[Halofire]

So how does a 51% attack work on PoW/PoS coin? You need to have both 51% of PoW and PoS power? Can you for example 51% a PoW/PoS coin by having just 51%+ of the PoW hashrate?

Not 100% sure with the hybrids, but i think you need 51% of everything, including 51% of total coins in circulation to stake at same time from one deposit, not little chunks.

[LeBarton]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

[Halofire]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

[LeBarton]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?

[Halofire]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?

I don't have an updated BC client or I'd do it myself, open up the console and type getdifficulty

[LeBarton]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?

I don't have an updated BC client or I'd do it myself, open up the console and type getdifficulty

Haven't one either. I managed to find the difficulty on blackchain. It's 242 for PoW.

[Halofire]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?

I don't have an updated BC client or I'd do it myself, open up the console and type getdifficulty

Haven't one either. I managed to find the difficulty on blackchain. It's 242 for PoW.

That's quite a bit of GH.

[stormia]

So how does a 51% attack work on PoW/PoS coin? You need to have both 51% of PoW and PoS power? Can you for example 51% a PoW/PoS coin by having just 51%+ of the PoW hashrate?

For a low PoW reward PoW/PoS hybrid you only need to control 51% of the PoW network hashpower (which is easy because the PoW reward is so low) and then you can override the PoS and produce a long stretch of only PoW blocks on the blockchain, effectively converting it to a pure PoW system for a given amount of time and thereby allowing you to take control of the blockchain and double spend during the time period. The BC devs "demonstrated" this on Mintcoin, and Mintcoin had to switch to pure PoS to fix the issue. I think PoT would prevent this from happening even as fluttercoin transitions to a lower reward and the network hashrate drops because the PoT blocks are tied to the PoW blocks and "check" the validity of PoW blocks and would fork the attackers chain away from the main chain. In otherwords, low PoW reward PoS/PoW hybrids are generally vulnerable but I think fluttercoin changes that with the addition of PoT

I still think there are some issues with pure PoS systems. Particularly systems which have a low PoS interest (e.g. 1% for BC) because that means there is less incentive for people to keep their wallets open and securing the network which means the network weight at any given time that one would have to compete with to get 51% of the weight is lower. Also, since the weight is based off of coin-days (a function of number of coins and their age), it seems to me that having no max coin-age (such as in the case of BC) would allow, in theory, somebody to gather infinite coin-days with a small number of coins over an infinite period of time. Practically speaking nobody can let their coins age for an infinite amount of time but depending on how many coins you have you could let those coins sit and collect coin-age indefinitely until you have accumulated enough coin-days to posses 51% of the network weight.

This is my understanding, somebody correct me.

[thekidcoin]

So how does a 51% attack work on PoW/PoS coin? You need to have both 51% of PoW and PoS power? Can you for example 51% a PoW/PoS coin by having just 51%+ of the PoW hashrate?

For a low PoW reward PoW/PoS hybrid you only need to control 51% of the PoW network hashpower (which is easy because the PoW reward is so low) and then you can override the PoS and produce a long stretch of only PoW blocks on the blockchain, effectively converting it to a pure PoW system for a given amount of time and thereby allowing you to take control of the blockchain and double spend during the time period. The BC devs "demonstrated" this on Mintcoin, and Mintcoin had to switch to pure PoS to fix the issue. I think PoT would prevent this from happening even as fluttercoin transitions to a lower reward and the network hashrate drops because the PoT blocks are tied to the PoW blocks and "check" the validity of PoW blocks and would fork the attackers chain away from the main chain. In otherwords, low PoW reward PoS/PoW hybrids are generally vulnerable but I think fluttercoin changes that with the addition of PoT

I still think there are some issues with pure PoS systems. Particularly systems which have a low PoS interest (e.g. 1% for BC) because that means there is less incentive for people to keep their wallets open and securing the network which means the network weight at any given time that one would have to compete with to get 51% of the weight is lower. Also, since the weight is based off of coin-days (a function of number of coins and their age), it seems to me that having no max coin-age (such as in the case of BC) would allow, in theory, somebody to gather infinite coin-days with a small number of coins over an infinite period of time. Practically speaking nobody can let their coins age for an infinite amount of time but depending on how many coins you have you could let those coins sit and collect coin-age indefinitely until you have accumulated enough coin-days to posses 51% of the network weight.

This is my understanding, somebody correct me.

Great assessment...

[thekidcoin]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

Yes sorry I skipped the second answer of thekidcoin where he says those are rejected.

Are there so many miners on BC?

From main.h:

static const int LAST_POW_BLOCK = 10000;

from main.cpp:

if (IsProofOfWork() && nHeight > LAST_POW_BLOCK)
        return DoS(100, error("AcceptBlock() : reject proof-of-work at height %d", nHeight));

so, no mining on BC anymore...

[thekidcoin]

PoW blocks are rejected...

hmm, was not aware of that, but then why are numerous miners still hashing away at bc? must be a reason?

Are you talking about the BC multipool? If so they are only mining other coins in order to buy BC, but they are not directly mining BC.

no, the PoW phase still going on. read up a few posts ago.

From main.h:

static const int LAST_POW_BLOCK = 10000;

from main.cpp:

if (IsProofOfWork() && nHeight > LAST_POW_BLOCK)
        return DoS(100, error("AcceptBlock() : reject proof-of-work at height %d", nHeight));

so, no mining on BC anymore...

[thekidcoin]

I said that twice, I'm like Jimmy Two Times.  Gotta go get the papers, get the papers (goodfellas LOL)

[miningwithus]

https://i.imgur.com/RonVFOx.png
flutter.miningwith.us
Come throw some hash at us!
Updated to v0.4.5.7.

[ma_da_o]

The price is very cheap 

[gutz]

Hey guys , big props to the dev I love this coin

I've designed a new banner for the OP with a more clean and balanced layout
It's still a WIP ( need a couple more sessions on it ) , but let me know what you think of the design direction
the PoW part is the most "complete"

http://clickit.ort.org.il/files/upl/858904808/282695448.png

I've also wanted to tryout a more "catchy" slogan
http://clickit.ort.org.il/files/upl/858904808/112254315.png

Variants

• Flutter - More Proofs Than Any Other Coin
• What more proof do you need? Use Flutter

So , What do you think?
Feedback will be appreciated

[LeBarton]

Hey guys , big props to the dev I love this coin

I've designed a new banner for the OP with a more clean and balanced layout
It's still a WIP ( need a couple more sessions on it ) , but let me know what you think of the design direction
the PoW part is the most "complete"



I've also wanted to tryout a more "catchy" slogan


Variants

• Flutter - More Proofs Than Any Other Coin
• What more proof do you need? Use Flutter

So , What do you think?
Feedback will be appreciated

I like it ! It makes it clear. The catchy slogan and the 2 alternatives are really good. It focuses on the innovation of the coin.

[SwedishGirl]

Hey guys , big props to the dev I love this coin

I've designed a new banner for the OP with a more clean and balanced layout
It's still a WIP ( need a couple more sessions on it ) , but let me know what you think of the design direction
the PoW part is the most "complete"



I've also wanted to tryout a more "catchy" slogan


Variants

• Flutter - More Proofs Than Any Other Coin
• What more proof do you need? Use Flutter

So , What do you think?
Feedback will be appreciated

I like it ! It makes it clear. The catchy slogan and the 2 alternatives are really good. It focuses on the innovation of the coin.

I believe it will help attract more people to this sexy coin if we also mention what is the maximum possible PoS reward per year. Saying minimum 5% is not as attractive as saying maximum 30% for example. Is somebody able to calculate what is the maximum compound interest that a person could get per year? Also does it make sense to sell all my coins when the 90 days maturation period expires and buy new ones which I then start staking again for maximum per year gains?

[pille]

very nice gutz!