Bitflate - crypto with inflation

[dnprock]

I created a discord channel. If you have any question, you can ask me directly in there.

https://discord.gg/utnEyp8

I'll try to be online in the channel during day time. I live in the Seattle area, Pacific Time.

[dnprock]

It came to our attention that previous software builds didn't enable SegWit properly. I fixed the issue and rebuilt v0.18.1. You can download it here:

https://github.com/bitflate/bitflate/releases/tag/v0.18.1

We're now at block 29510. SegWit is enabled since block 28224.

https://explorer.bitflate.org/

[MiningCoinsPool]

 

We added BitFlate

 MiningCoins.ca  

• 0.19% lowest fee on the market


• Payouts every 30 minutes for balance above 0.0001


• -a sha256 -o stratum+tcp://miningcoins.ca:3341 -u <walletaddress> -p c=BFL

--> DISCORD <--

Thank you

[gaboo2012]

Exchanges ?

[dnprock]

Sorry, we don't have an exchange listing. That may change soon. I'll update here when we have one. Join our discord channel for updates: https://discord.gg/utnEyp8.

We're at block 36182 and 1.8 million coins now. Reminder: block reward drops for 4 halvings before inflation.

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

https://explorer.bitflate.org/

[AmoreJaz]

everybody can create their own bitcoin derivative or bitcoin clone or bitcoin imitation or whatever you call it , but the fact lies that no one has ever surpassed yet the achievements of bitcoin.

Looks like some professional miners are acquiring bitflate coins. They slowly push up hashrate and mine lots of coins. We're at 548 GH/s and 1461 difficulty. I don't see anything irregular. If someone notices anything, please let me know.

they are mining and then dump once it hit the exchanges. of course, what can you expect? from the faq section itself, you know that this will not gonna last long -

[dnprock]

everybody can create their own bitcoin derivative or bitcoin clone or bitcoin imitation or whatever you call it , but the fact lies that no one has ever surpassed yet the achievements of bitcoin.

Looks like some professional miners are acquiring bitflate coins. They slowly push up hashrate and mine lots of coins. We're at 548 GH/s and 1461 difficulty. I don't see anything irregular. If someone notices anything, please let me know.

they are mining and then dump once it hit the exchanges. of course, what can you expect? from the faq section itself, you know that this will not gonna last long -

Bitflate (BFL) uses the same PoW consensus as Bitcoin. Miners are using electricity to generate BFL coins. They are spending money. I am cautious of high coin price in the FAQ. But it is reasonable for miners to sell the coins to recoup their mining cost.

Bitflate is not a Store of Value like Bitcoin. The goal is not sky high coin price or competing with Bitcoin Store of Value. The goal is to create a coin with somewhat stable price. I expect miners to sell their coins on the market. Inflation will create pressure to sell. Inflation removes the HODL mentality in limited supply coins.

Why should you mine or get Bitflate coin? Bitflate inflation is set at 7% per year. It doesn't issue more coins arbitrarily. I think if adoption for the coin increases faster than supply inflation, early adopters will be rewarded. That is the bet we're making. It is still an experiment. Do your own research and decide.

Libra and stablecoins are somewhat centralized and permissioned cryptocurrency. Bitflate is more similar to stablecoins. But it is permissionless, decentralized, digital native.

[reallester]

Why use bitcon logo? for get some community for joining? or want to be popular?, Let's be creative man, alot of out there have logo can implement your new project.

[dnprock]

reallester, that is not the Bitflate logo. A user on this forum, CryptoSDesigner, designed it and tried to get me to use it. Our current logo is on the explorer page.

https://explorer.bitflate.org

[MiningCoinsPool]

they are mining and then dump once it hit the exchanges. of course, what can you expect? from the faq section itself, you know that this will not gonna last long -

It is me who mined that much, and i am NOT going to dump it when it hit an exchange, it is the opposite of a smart move actually

[cryptofarmer]

Bitflate now available on:
Mining-Dutch Pools

website:
https://www.mining-dutch.nl/
Stratum:
stratum+tcp://sha256.mining-dutch.nl:9996

Payout:
Proportional every 15 minutes,
Payouts and Convertion to any currency we have,

Mining modes:
We offer the following modes that are all completely isolated from each other.
1. Multiport (can also be mined Solo / Party )
2. Normal Pooled + Custom sets
3. Solo + Custom sets
4. Party + Custom sets

Peers list:
addnode=208.167.255.245:7333
addnode=159.203.68.109:7333
addnode=157.230.117.175:7333

[dnprock]

Update: we just passed 2 million coins. I'm excited about this milestone.

The coins are getting distributed into many wallets. We want to increase decentralization.

https://explorer.bitflate.org/richlist

Reminder: Bitflate mining rewards early adopters with more coins.

First 10 halvings' rewards:

0: 50
1: 25
2: 12.5
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

Block explorer: https://explorer.bitflate.org

[dnprock]

I'm experimenting Lightning Network on Bitflate blockchain. Yes, it's possible to use Lightning for altcoins.

Original post: https://bitflate.org/post/2019/09/07/bitflate-lightning-network-with-c-lightning.html
Join our discord channel: https://discord.gg/utnEyp8

Bitflate is a Bitcoin fork with constant inflation. Since it is updated frequently with Bitcoin Core code base, it has Lightning Network support. Bitflate mainnet activated SegWit at 28k block. In this article, we describe how to use c-lightning on Bitflate testnet. You can use it on mainnet.

Note: Lightning Network is an experimental protocol. c-lightning is experimental software. Please use it with caution. Always run on testnet first. Contact us if you have problem.

To run Lightning Network transactions, you will need at least 2 machines (send and receive). You first need to build or download Bitflate Core and c-lightning software on both machines.

https://github.com/bitflate/bitflate/releases
https://github.com/ElementsProject/lightning/blob/master/doc/INSTALL.md
https://github.com/ElementsProject/lightning/releases

Send Machine

On send machine, start bitflated and lightningd.

Code:

# You may also need -maxtipage=864000000 option to avoid stale tip on testnet
./bin/bitflated -testnet -rpcuser=sender -rpcpassword=sender

# Start c-lightning daemon
./lightningd/lightningd --bitcoin-rpcuser=sender --bitcoin-rpcpassword=sender --bitcoin-rpcport=17332 --bitcoin-cli=[path to bitflate-cli]

Create new address in c-lightning and send coin to c-lightning address:

Code:

# Create lightning address
lightning-cli newaddr

# Send Bitflate coin to lightning address
bitflate-cli sendtoaddress <address> <amount_in_bitflates>

After this, you need to mine a block to process the transaction. If you need help with mining a block on testnet, please send us an email: contact@bitflate.org.

After your transaction is mined into a block, you should see the amount in c-lightning:

Code:

./cli/lightning-cli listfunds

Receive Machine

On receive machine, start bitflated and lightningd.

Code:

# You may also need -maxtipage=864000000 option to avoid stale tip on testnet
./bin/bitflated -testnet -rpcuser=receiver -rpcpassword=receiver

# Start c-lightning daemon
./lightningd/lightningd --bitcoin-rpcuser=receiver --bitcoin-rpcpassword=receiver --bitcoin-rpcport=17332 --bitcoin-cli=[path to bitflate-cli]

After lightningd start, copy the server public key. It’s a string that look like this: 0284a33b6286d9647b9e2fa4c7e2f71f0bd78b97c78b49726c8d04c204648fed36.

Send Coins

We are now ready to send some coins from sender machine to receiver machine.

On sender machine:

Code:

# connect to receiver machine
./cli/lightning-cli connect [receiver public key] [receiver ip address]

# fund channel with coin (unit is in satoshi)
# amount cannot be too small but should not exceed 16777215 satoshi
./cli/lightning-cli fundchannel [receiver public key] [amount]

# create invoice
./cli/lightning-cli invoice [amount] "test_invoice" "test invoice description"

# invoice command generates a bolt11 string, copy it to use for pay command
./cli/lightning-cli pay [bolt11]

Lightning Network requires several nodes to route transactions. You may get and error like: “invoice: insufficient incoming capacity”. In that case, you don’t have sufficient nodes. See the below article for possible solutions.

https://medium.com/lightningto-me/practical-solutions-to-inbound-capacity-problem-in-lightning-network-60224aa13393

[MiningCoinsPool]

Bitflate is now listed on Altmarkets.io !


https://altmarkets.io/trading/bflbtc

[dnprock]

Yes, we're on altmarkets now. First exchange. I was involved with the listing process representing the Bitflate community. However, I do not endorse any exchange. Please do your own research before sending your coins and proceed with caution. Onwards!

[dnprock]

Thanks TillKoeln, Unnamed Exchange is proven to be a good exchange with affordable fee.

As always, please proceed with caution.

[dnprock]

I purchase my first batch of BFL coins on Unnamed Exchange. Priced at 10 sats per BFL coin.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

[dnprock]

For those who follow this thread, I've written a new article about crypto with inflation.

The Next Big Thing in Crypto: Using Inflation to Create Stablecoin

https://bitflate.org/post/2019/10/10/the-next-big-thing-in-crypto-using-inflation-to-create-stablecoin.html

Bitflate is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

[dnprock]

Mining update:

Block: 45.3k.
Coin supply: 2.26 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

Onwards.

[dnprock]

Hi everyone,

Exciting update. We've reached 50k blocks!

Block: 50k.
Coin supply: 2.5 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

Onwards.