[ANN][FLT] Fluttercoin Ƹ̵̡Ӝ̵̨̄Ʒ | Proof of Transaction 3.0 | Update v0.7.5.22

[Dogedigital]

Just finished reading the FlutterCoin userguide (yeahh believe it or not)  and just encrypted my wallet. Not sure if its necessary but I did.
One thing I not sure of, in the Wallet: File - Sign message; what is that?

We think the Fluttercoin User Guide is great!  It really helps those that are a little new or inexperienced to learn the features of our wallet and coin extremely fast.  I know that it took me quite a while to get a hang of things.  I wish I had this guide at my disposal earlier.

Here are some sample pages just to give you guys more of an idea.... plus highlights one of our worked and improved features... Coin Control

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[Ryven Cedrylle]

Man, you all really put some effort into this. Very impressed. You even got my FLT back on the web wallet! 'Fraid I'm not going to be much help on the Skype group but wanted to voice my support anyway. Also, you guys should talk with the Ribbitcoin folks (ribbitcoin.me, not yet launched); they have some really interesting ideas about Proof of Transaction.

[ofeefee]

Just finished reading the FlutterCoin userguide (yeahh believe it or not)  and just encrypted my wallet. Not sure if its necessary but I did.
One thing I not sure of, in the Wallet: File - Sign message; what is that?

If for some reason you needed to prove you are the owner of an address, you can sign a message with your private key and send it to someone and they can verify that it is you.  Non-repudiation

Oh and make sure you have a backup unencrypted somewhere offline or dump the private key and print it/store it somewhere safe.  Should something occur, either have multiple backups of the encrypted or other methods to recover.

Thank you for explaining, so if I uninstall flutter wallet (delete appdata roam folder too) install it again and use old backup of unencrypted wallet.dat it will function as unencrypted wallet with all its info? I'm keeping copy of both encrypted and not on usb.

The sign in message is something I don't have to worry about.

#61 on the rich list, could be @ 54 but decided to keep 100k+ to trade with.

Yes, I have only had one time where I lost my wallet.DAT file, and backup was able to recover.  You need to backup periodically, so the keypools get backed up frequently.  This is needed to recover change type addresses.  So make it a habit to backup every week or once a month.  Worst case you have more than one way to recover.  There is also a "dumpwallet" function which will print out all the specifics for the wallet for a paper recovery, and you can use "importwallet" to restore this as well.  Maybe we can provide these advanced backup and recovery options in the user guide.

[imbecileee]

Just finished reading the FlutterCoin userguide (yeahh believe it or not)  and just encrypted my wallet. Not sure if its necessary but I did.
One thing I not sure of, in the Wallet: File - Sign message; what is that?

If for some reason you needed to prove you are the owner of an address, you can sign a message with your private key and send it to someone and they can verify that it is you.  Non-repudiation

Oh and make sure you have a backup unencrypted somewhere offline or dump the private key and print it/store it somewhere safe.  Should something occur, either have multiple backups of the encrypted or other methods to recover.

Encrypting prevents coins from being sent should the system the wallet is on be compromised.  They need passphrase to unlock. This can be key logged, so we are discussing other security option to address this.

Encryption is also required for staking I believe. The wallet needs to be unlocked to start staking.

Unlock option only activate once the wallet is encrypted.

Anyone ever tried to stake with an unencrypted wallet ? Maybe it's consider unlocked by default and staking is possible without encryption / unlock.

[chris20131111]

Awesome job on the re-launch everyone! It's great to see things moving forward. I been so busy the last month its ridiculous and it doesn't look like they want to hire anymore help over here so may be looking for a new job soon. Keep up the awesome work!

[imbecileee]

Awesome job on the re-launch everyone! It's great to see things moving forward. I been so busy the last month its ridiculous and it doesn't look like they want to hire anymore help over here so may be looking for a new job soon. Keep up the awesome work!

Hey chris! Thanks and nice to hear from you again. 

Hope to see you back in the skype group when you have more free time. 

[ofeefee]

Just finished reading the FlutterCoin userguide (yeahh believe it or not)  and just encrypted my wallet. Not sure if its necessary but I did.
One thing I not sure of, in the Wallet: File - Sign message; what is that?

If for some reason you needed to prove you are the owner of an address, you can sign a message with your private key and send it to someone and they can verify that it is you.  Non-repudiation

Oh and make sure you have a backup unencrypted somewhere offline or dump the private key and print it/store it somewhere safe.  Should something occur, either have multiple backups of the encrypted or other methods to recover.

Encrypting prevents coins from being sent should the system the wallet is on be compromised.  They need passphrase to unlock. This can be key logged, so we are discussing other security option to address this.

Encryption is also required for staking I believe. The wallet needs to be unlocked to start staking.

Unlock option only activate once the wallet is encrypted.

Anyone ever tried to stake with an unencrypted wallet ? Maybe it's consider unlocked by default and staking is possible without encryption / unlock.

If it's not encrypted it stakes automatically when coins are mature.  You can also send coins without a passphrase as well.  No passphrase set? Nothing to unlock so wallet is wide open and all features are available.

[makishart]

Good work guys! You saved the community!

[imbecileee]

Just finished reading the FlutterCoin userguide (yeahh believe it or not)  and just encrypted my wallet. Not sure if its necessary but I did.
One thing I not sure of, in the Wallet: File - Sign message; what is that?

If for some reason you needed to prove you are the owner of an address, you can sign a message with your private key and send it to someone and they can verify that it is you.  Non-repudiation

Oh and make sure you have a backup unencrypted somewhere offline or dump the private key and print it/store it somewhere safe.  Should something occur, either have multiple backups of the encrypted or other methods to recover.

Encrypting prevents coins from being sent should the system the wallet is on be compromised.  They need passphrase to unlock. This can be key logged, so we are discussing other security option to address this.

Encryption is also required for staking I believe. The wallet needs to be unlocked to start staking.

Unlock option only activate once the wallet is encrypted.

Anyone ever tried to stake with an unencrypted wallet ? Maybe it's consider unlocked by default and staking is possible without encryption / unlock.

If it's not encrypted it stakes automatically when coins are mature.  You can also send coins without a passphrase as well.  No passphrase set? Nothing to unlock so wallet is wide open and all features are available.

Thanks. I'll update the FAQ with proper information tonight.

[imbecileee]

Good work guys! You saved the community!

Thanks! 

First step for any coin that want to succed long term is to build a strong and active community to support the coin. This is still the focus at the moment in my opinion. We still need many more people to get involved and help with ideas for development, communication, coordination, etc.

A strong community and innovation in the coin would be my top criterias if I were a dev looking for a coin to support long term.

Fluttercoin always had the innovative part but was lacking the community support to make it a success. I think we're on the right path now and progress will speed up soon on many levels. 

[GreatOrchid]

Come mine on multipool @ fluttercoinpool.com, daily payouts, could use more hashrate. Sha256, scrypt, and X11.

Only thing needed is your flt address for payout!

i like this pool im 6 of the 9 x11 miners
and considering how mining is these days
i'll stay mining here
a happy miner
 

[GreatOrchid]

so somewhere between 30 days til 90 coin will mature enough to start staking?
right ?
 

[imbecileee]

so somewhere between 30 days til 90 coin will mature enough to start staking?
right ?
 

Yes. You can stake as soon as your coins are 30 days old, but you can also wait until they are 90 days old and earn the interest for that period.

If your coins get older than 90 days they still can stake and earn interest for 90 days, but they'll stop accumulating coin-age after 90 days.

Many of us think those minimum and maximum coin-age maturity are too long. I personnaly think the network would benefit a shorter maturity time. People would have to get their wallet online more often to earn their rewards, more PoS blocks generated, more nodes, etc.

My vote would be: min. 5 days / max. 15 days.

[imbecileee]

After you stake, your coins are reset to 0 coin-age. You don't have to send them anywhere to stake again.

So if you let them gain 30 days of coin-age again, you will stake again and earn interest again at day 60, 90, 120.

The 90 days max is not a deadline to stake, but only a limit on the reward one can earn by staking once. To get the max reward, we have to participate to the network at least once every 90 days to collect the reward and reset coin-age. This is the main reason I think the network would benefit from shorter maturity limits.

[GreatOrchid]

 we have to participate to the network at least once every 90 days to collect
this means open wallet online in my computer right ?

[unamis76]

we have to participate to the network at least once every 90 days to collect
this means open wallet online in my computer right ?

Yes, you should have your wallet online as much as you can. By doing that you are:

1. Getting more frequent and stable PoS rewards
2. Helping the network by allowing people to download the correct blockchain from you.

[imbecileee]

Shorter maturity time also means more PoS blocks generated.

More blocks = faster confirmations

PoS incentives would be much more oriented toward network participation with a shorter maturity. As it is, it doesn't make us participate in the network often enough and it's almost only a hoarding incentive. We can get max. reward by participating only 4 times a year. 

[soltantgris]

Good post(s) Imbecileee (Lisa) !

A lot of good ideas has been discussed the past few days - some of those would be (I think) innovation in crypto.  Still time to let us know your ideas.  I shared my own ideas with our team - and it would be nice to get more opinion from the community.  So lets go !

[soltantgris]

Someone could tell me why I can't add my avatar to my profile ? 

[coinlighter]

Someone could tell me why I can't add my avatar to my profile ?  

If you mean here, it was disabled (due to security reasons) in last October, after a hack  and never enabled ever since.