Bitflate (crypto with inflation) Mining

[dnprock]

I posted a guide to simple mining setup for Bitflate, a cryptocurrency with inflation.

https://bitflate.github.io/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

If you need a pool for mining, you can use mining-dutch or cminors pools. See mining pool instructions below:

https://www.mining-dutch.nl/
https://bitflate.cminors-pool.com/

Come mine this coin. The coin supply starts to inflate after 4 years. But it 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]

Update: Current block height: 6399. I designed a reward system to give more coins to early adopters.

You can buy GekkoScience NewPac miner from 419mining.com. All mining equipments cost under $100. Come mine Bitflate coin!

Mining guide: https://bitflate.github.io/post/2019/07/21/bitflate-solo-mining-with-gekkoscience-newpac-usb.html

[dnprock]

We just launched a explorer UI for Bitflate coin.

https://explorer.bitflate.org/

[WhyMe]

So, in date of 19/07 you've mined 6000 blocks, right ?
Now chain is at block 127xx, so you have 50% of the coins, and probably more if you have continued mining ...

[dnprock]

So far, there're 2 people mining Bitflate. I have 61.38% of the supply. The other person whom I don't know has 38.62%. We're at 639k coins. In our first year, we're supposed to reach 10 million coins. So we're still very far off. I do not want to own more coins. I will keep my miner down once there are more people mining. The coin uses the same Proof of Work consensus as bitcoin. I expect coin ownership to spread out when more miners come.

The chain inflates its supply after 4 years. So eventually, my bag will devalue. My long term goal is to create software services around the chain.

https://bitflate.org/

[dnprock]

I just saw this gif animation on twitter.

https://twitter.com/in3rsha/status/1159081365528358913

Bitcoin doesn't have new miners on board until block 130k. We have 2 miners already at 12k block.

[dnprock]

We released version 0.18.1 of Bitflate Core.

https://bitflate.org/post/2019/08/11/bitflate-binaries-v0.18.1.html

[dnprock]

Update: we're at block 14k now with 6 addresses:

https://twitter.com/bitflate/status/1161863188024983553

https://explorer.bitflate.org/

[dnprock]

Bitflate chain has grown quick. We're at block 17k with 16 addresses now. Thanks everyone!

Reminder: reward gets halving 4 times before inflation. The system rewards early miners with more coins.

[dnprock]

One day: we're at block 22693 and 1.1 million coins now. 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 hope the chain is not under attack. I don't see anything irregular. If someone notices anything, please let me know.

[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/

[dnprock]

I posted a discussion in Bitcoin Discussion to make the case for Bitflate. See the discussion here:

https://bitcointalk.org/index.php?topic=5179448

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

Update: current block 37,776. Coin supply: 1,888,850.

[dnprock]

Recent price decrease seems to drop hashrates everywhere. Good time for mining. 

Bitflate difficulty: 985k (down from 1.2 million).
Coin supply: 1.9 million.
Block number: 38402.

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]

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]

Update: Bitflate (BFL) is now available on Unnamed Exchange.

https://twitter.com/TillKoeln/status/1178506800372551680?s=20v


$BFL Bitflate is listed at unnamedExchange https://www.unnamed.exchange

join our Discord https://discord.gg/phaRuY9

BTC http://www.unnamed.exchange/Exchange/Basic?market=BFL_BTC
LTC http://www.unnamed.exchange/Exchange/Basic?market=BFL_LTC
DOGE http://www.unnamed.exchange/Exchange/Basic?market=BFL_DOGE
UTIP http://www.unnamed.exchange/Exchange/Basic?market=BFL_UTIP
ETH http://www.unnamed.exchange/Exchange/Basic?market=BFL_ETH

[dnprock]

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. Use with caution.

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

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

Onwards.

[CjMapope]

this one never got too far hey? not a single buy order on unnamed.exchange  
kinda feels like just a fun experimental coin anyways
Good Luck in the future!

[dnprock]

Thanks. I sure need a lot of luck.

Yes, Bitflate is an experimental coin. I pitch Bitflate as Bitcoin with constant inflation. I think it is a good candidate for a digital native stablecoin. It has a 7% supply inflation after 4 years of halving. By design, Bitflate coin bag will devalue over time. Bitflate is not digital gold. It's not for HODL. Everyone will dump Bitflate at some point. Bitflate is, by common definition, a shitcoin. It is probably the ultimate shitcoin. It is the opposite of Bitcoin. But maybe, this is why it has a chance of succeeding.

Although the chain inflates at 7%, we should be able to compensate depreciation with interest. Bitflate could become a coin for transactions. It's year 2019. I'm trying to fork Bitcoin. Forking has been done so many times and pretty much all failed. I'm aware of this. Running Bitflate has been a humbling experience. But I think cryptocurrency market needs a coin like this. With Bitflate, there's no limited supply, no Austrian Economics, no programmable blockchain, no world computer. Inflation encourages people to spend their coins.

No trick, no gimmick, just plain old Proof of Work cryptocurrency.

You can buy BFL on Unnamed Exchange. Use with caution. https://www.unnamed.exchange/Exchange?market=BFL_BTC

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

[swogerino]

Thanks. I sure need a lot of luck.

Yes, Bitflate is an experimental coin. I pitch Bitflate as Bitcoin with constant inflation. I think it is a good candidate for a digital native stablecoin. It has a 7% supply inflation after 4 years of halving. By design, Bitflate coin bag will devalue over time. Bitflate is not digital gold. It's not for HODL. Everyone will dump Bitflate at some point. Bitflate is, by common definition, a shitcoin. It is probably the ultimate shitcoin. It is the opposite of Bitcoin. But maybe, this is why it has a chance of succeeding.

Although the chain inflates at 7%, we should be able to compensate depreciation with interest. Bitflate could become a coin for transactions. It's year 2019. I'm trying to fork Bitcoin. Forking has been done so many times and pretty much all failed. I'm aware of this. Running Bitflate has been a humbling experience. But I think cryptocurrency market needs a coin like this. With Bitflate, there's no limited supply, no Austrian Economics, no programmable blockchain, no world computer. Inflation encourages people to spend their coins.

No trick, no gimmick, just plain old Proof of Work cryptocurrency.

You can buy BFL on Unnamed Exchange. Use with caution. https://www.unnamed.exchange/Exchange?market=BFL_BTC

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

I think that you are doing a good job but you need more widespread for your coins and let me tell you a very easy way to reach more people,start a signature campaign and pay participants by Bitcoin (equal in Bitflate) so if you pay Full Members 0.002 btc weekly you will pay them the equivalent in bitflate.The reason I say to pay in Bitcoin equivalent is to get more people to join your signature.

This is a good project but alone you can’t go very far no matter how good you are.