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Author Topic: [ANN][FLT] Fluttercoin Ƹ̵̡Ӝ̵̨̄Ʒ | Proof of Transaction 3.0 | Update v0.7.5.22  (Read 127571 times)
ofeefee
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June 18, 2016, 02:43:00 PM
 #1081

My thoughts on the coin and how to drive interest back into it would be for us to move to a system like most are after when they look to a coin for currency purposes. That is a system that drives some sort of deflationary aspect to the coin. As i can not lie getting the amount from staking is amazing, i can also see why the coin could over time die if it does not fix its inflationary aspect. (or find its purpose in the world of alt coins)
 
Though I am not here just to fret on the problems of the coin (in my opinion) .... but to talk to the community about an idea for fluttercoin 2.0 so to say....
One I wish to message the community about the idea to make sure it is embraced by all (or at least the vast majority)
Secondly to ask Ofeefee if one he agrees my idea is good for the coin, and also if he could possibly work to implement it!

Lastly, my idea.....  Undecided Smiley
Well the coin has been out for almost 2 and 1/2 years, and is still trading so that is good... but as more coins are created... more coins are created, if you catch my drift. To combat the inflation in the coin that we would see if this is not addressed, I suggest implementing a deflationary aspect to the POS algorithm, Basically a block having the would see the amount staked halfed in increments doubling in time after implementation.

So to put it in information that is basic and easier to understand what i mean by all this.....

Flutter pos 2.0 would start on the 1,000,000th block... starting at 2.5% (doubling in difficulty)  (2.5ish years into creation)

First halfing (second really, first of flutter 2.0) block 2,000,000th... 1.25%(doubling in difficulty) (2.5 years later)
(3,000,000th block... this is when the doubling in time will first be noticed as 1.25% will continue till the 4,000,000th block)
2nd halfing block 4,000,000th .... 0.625%(*******) (5 years after that)

3rd halfing block 8,000,000th ...... 0.3125% (10 years after)

4th halfing block 16,000,000th ..... 0.15625% (20 years after)

5th halfing block 32,000,000th ..... 0.078125% (40 years after)  (this would be 80 years after the first coin was minted roughly)
And so on

Please share how you all feel about this idea!?  Cheesy
 

and I do like it and it's not incredibly aggressive, so you want to half the percentage on the schedule?
so right now it starts at 100% top annual stake if diff is low and fluctuates as the block time adjusts

1 mil block we cut it to 50%, then 25%, then on and on?  So if we cut it to 50%, current rate would go from around 20% to 10%, and so on.  So around block 4million it's 12.5% max rate, but it would be more like 2% annual stake.  I will need to reduce the lower limit, coin was designed to produce no less than 5% annual stake, so what would lower limit be?

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June 23, 2016, 02:49:12 PM
 #1082

Is this coin still alive ?

check for yourself...
https://chainz.cryptoid.info/flt/

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..TOKENISING FANTASY SPORTS▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬....











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June 23, 2016, 02:53:25 PM
 #1083

My thoughts on the coin and how to drive interest back into it would be for us to move to a system like most are after when they look to a coin for currency purposes. That is a system that drives some sort of deflationary aspect to the coin. As i can not lie getting the amount from staking is amazing, i can also see why the coin could over time die if it does not fix its inflationary aspect. (or find its purpose in the world of alt coins)
 
Though I am not here just to fret on the problems of the coin (in my opinion) .... but to talk to the community about an idea for fluttercoin 2.0 so to say....
One I wish to message the community about the idea to make sure it is embraced by all (or at least the vast majority)
Secondly to ask Ofeefee if one he agrees my idea is good for the coin, and also if he could possibly work to implement it!

Lastly, my idea.....  Undecided Smiley
Well the coin has been out for almost 2 and 1/2 years, and is still trading so that is good... but as more coins are created... more coins are created, if you catch my drift. To combat the inflation in the coin that we would see if this is not addressed, I suggest implementing a deflationary aspect to the POS algorithm, Basically a block having the would see the amount staked halfed in increments doubling in time after implementation.

So to put it in information that is basic and easier to understand what i mean by all this.....

Flutter pos 2.0 would start on the 1,000,000th block... starting at 2.5% (doubling in difficulty)  (2.5ish years into creation)

First halfing (second really, first of flutter 2.0) block 2,000,000th... 1.25%(doubling in difficulty) (2.5 years later)
(3,000,000th block... this is when the doubling in time will first be noticed as 1.25% will continue till the 4,000,000th block)
2nd halfing block 4,000,000th .... 0.625%(*******) (5 years after that)

3rd halfing block 8,000,000th ...... 0.3125% (10 years after)

4th halfing block 16,000,000th ..... 0.15625% (20 years after)

5th halfing block 32,000,000th ..... 0.078125% (40 years after)  (this would be 80 years after the first coin was minted roughly)
And so on

Please share how you all feel about this idea!?  Cheesy
 

and I do like it and it's not incredibly aggressive, so you want to half the percentage on the schedule?
so right now it starts at 100% top annual stake if diff is low and fluctuates as the block time adjusts

1 mil block we cut it to 50%, then 25%, then on and on?  So if we cut it to 50%, current rate would go from around 20% to 10%, and so on.  So around block 4million it's 12.5% max rate, but it would be more like 2% annual stake.  I will need to reduce the lower limit, coin was designed to produce no less than 5% annual stake, so what would lower limit be?

Getting a bit desperate, are we? You should be concerned about creating some use cases for this coin not about the supply... Only reason some people were holding this was because it gave good pos awards.
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June 28, 2016, 12:39:55 PM
 #1084

Sorry for waiting a bit before replying I wanted to see how people felt about it before doing any response...

Well it seems like we may have something here, maybe work on the details a little more, as ive said in an earlier post, i dont fully understand the pos algorithum, but you defienly explained it good their.  Grin

My idea was based on all i knew was it was ment to give out 5% .... i did not know the top amount, nor really the technicalities lol
so, it was really just showing the lower % so first halfing (you were saying top is roulghly 20%) becomes top 10% and bottem 2.5%

Really as well it is just an idea, but with regards to it being unfair to new people who wish to join in the future, could that not be said about all coins? But, also the coin has been out and trading well ... so everyone has had a fair chance to get into this coin so if it does "Pop" off one day, no one could really say its unfair, just.... more.... DAMN why didnt i buy at 25 sat. lol





 Roll Eyes Roll Eyes ::)Getting a bit desperate, are we? You should be concerned about creating some use cases for this coin not about the supply... Only reason some people were holding this was because it gave good pos awards. Roll Eyes Roll Eyes Roll Eyes

Well this is no desperation, this was a new player to the flutter field (community) Who, sadly unlike yourself seems to want to do things together to build the coin and the system and has put an actual idea fourth to the community to be debated on, maybe changed, maybe never past the talking stage.

But, from exactly what you said... further stresses my point behind my idea. The only ones holding the coin are those who want rediculous return rates on pos. If we change it to a reasonable rate of staking... maybe we can build fluttercoin to the uses it was meant for but in my opinion an inflation rate as large as flutters currently could be harmful and seemingly has been so!

So again the point of my idea is to bring discussion to the table about an idea how to build it and what to build towards.... what is your idea to build anything for the coin?   (not being a dick either, if you have an idea, put it out there!!! Grin)

Lastly, in comparison to a lot of PoS coins, "if", after a couple halfings.... you will still get great PoS rewards. So most likely we will not lose any of those type of holders!



  ;)Is this coin still alive ?  Wink

Alive and Kicking, Never Going to Die! Well maybe when the last computer on earth dies!!!!! lol


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June 28, 2016, 01:02:54 PM
 #1085

Also, I do agree balencing with the pow would be a good idea!  What im worried about with an increase to the PoW is ... an increase to PoT

and PoT "vetting"   ... i love the idea of Proof of transaction!!!!

But, the one issue i notice. If the amount gained is more than the amount spent to send transactions, people seem to always look at this as a flaw. (even if its not flawed) My opinion we need to try and make the amount attained by PoT to just under the amount to send a transaction. That way the benifit from PoT is that it can help pay your transaction, not just straight out pay you!  just a thought though!! i really dont understand the PoT system Tongue

(edit: Just a Thought, decrease PoT perentage to 1% of PoW block... increase cost to send trasaction.... maybe, increase PoT freqency? 50FLT per PoW block halfing along with the rest of the system... again just thoughts here) 

Again remember everyone..... we are talking as a commiunty these are ideas and opinions... please share yours!    Grin
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July 02, 2016, 04:19:19 AM
 #1086

Also, I do agree balencing with the pow would be a good idea!  What im worried about with an increase to the PoW is ... an increase to PoT

and PoT "vetting"   ... i love the idea of Proof of transaction!!!!

But, the one issue i notice. If the amount gained is more than the amount spent to send transactions, people seem to always look at this as a flaw. (even if its not flawed) My opinion we need to try and make the amount attained by PoT to just under the amount to send a transaction. That way the benifit from PoT is that it can help pay your transaction, not just straight out pay you!  just a thought though!! i really dont understand the PoT system Tongue

(edit: Just a Thought, decrease PoT perentage to 1% of PoW block... increase cost to send trasaction.... maybe, increase PoT freqency? 50FLT per PoW block halfing along with the rest of the system... again just thoughts here) 

Again remember everyone..... we are talking as a commiunty these are ideas and opinions... please share yours!    Grin

PoT actually checks the previous transaction to see if there is a "match" on the selection algorithm.  if so then the next block pays that person 5% of the reward.  So if you are PoW, the reward is 5, so you get .25flt, which isn't much. On PoS reward it is higher.  For instance if i stake for 100FLT, you receive 5flt.

--o

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July 02, 2016, 07:58:07 PM
 #1087

Yeah you are right it is not really enough to make it an issue! Even if we did raise the pow to 50 coins per PoW block only 2.5 would be PoT. which still isnt enough to make it an issue. So maybe just leave it as is.

I also personally think the whole PoT is what makes Fluttercoin special!!!



But, i do think it is to cheap to send a transaction. Even if we raised it to 1 flutter to send, it wouldn't hurt anyones pocket book, but i say if we do go through with an increase to PoW payouts. We rise the cost to send a transaction by that amount

Example:   we raise from current 5 Flt to 50Flt per block.... we raise the cost to send coins from 0.01 Flt to 0.1 Flt.

Just a possible idea though.

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July 03, 2016, 10:29:00 AM
 #1088

I do not see any need to change sth that already works.
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July 03, 2016, 08:02:41 PM
 #1089

Do not change what exactly?  Huh 

We need more dialog, why do you think these changes are bad for the coin long term? The goal is to build something into this coin to help it to be a viable coin that is not just a over inflated coin that one day could become worth nothing. As with the system right now... the least amount i stake a month is not less than 2%(maybe only 1.8% sometimes) making it so i make 20% of my holdings per year, let alone if i hold them each month i will have compounding interest so in the end i would end up making even more.

This is not a good level of inflation, this type of inflation has destroyed real world currency time and time again! Why do you believe a system that has proven to fail time and time again in real world (tangible) currency is a viable system for a digital one?

While i believe that it has been good for the coin for the initial 1,000,000 blocks, as it has helped to actually give out a fair distribution of the coins without that being the initial purpose of the high inflation rate (high PoS payouts).

But, again these are just thoughts. I think its great and best for the coin to start a deflationary aspect to our PoS! Would we be first to have a PoS coin that deflates like this? I personally do not know that many PoS coins other than FLT, NXT, and Qora... but if we were the first to do that kind of PoS system it might even draw some attention towards us (not saying we would be though, i do not know) and maybe a few more developers that could help ofeefee out! and have more brains for more ideas for the coin!

And lastly maybe rebuild the awesome community that seemed to use to be here! I was not around in the glory days (the beginning)... but, I wish to build toward another glorious future!  Wink

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July 05, 2016, 02:53:50 AM
 #1090

Looking to invest in FLT - where would a newcomer start off? After buying in, of course...looks like there's some activity now...

Who's in control now? Links? White paper? Road map (current)? Slack channel? I'm on mobile, don't have the ability to do a lot of sleuthing at the moment Tongue

Thanks in advance for any help, it's greatly appreciated. If any help is needed with development/marketing/etc.  shoot me a PM Smiley

Cheers!
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July 05, 2016, 06:11:31 PM
 #1091

Looking to invest in FLT - where would a newcomer start off? After buying in, of course...looks like there's some activity now...

Who's in control now? Links? White paper? Road map (current)? Slack channel? I'm on mobile, don't have the ability to do a lot of sleuthing at the moment Tongue

Thanks in advance for any help, it's greatly appreciated. If any help is needed with development/marketing/etc.  shoot me a PM Smiley

Cheers!

This is where you can go to get details and see the block chain

https://chainz.cryptoid.info/flt/

Go to this page to get the wallet and guide how to install...    

http://fluttercoin.us/download/

  ...Also sometimes it does not sync after setting it all up (might have just been me) but, just go to crypto chainer and download the block chain, and than it'll sync up and work perfectly Smiley

And i think this is the white paper... for proof of transactions.      

http://fluttercoin.us/specifications/

Ofeefee could better answer your questions, as he is the lead developer here dont know who else is helping him!

 But, i thought i would put the info i know here!

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July 09, 2016, 11:22:02 PM
 #1092

great to see things been moving on all the time. I did like fluttercoin since it came out and its devs been doing great work on it. Thanks a lot for that!
I believe very much in flutter and its suprisely very undervalued at the moment. Just weit and see... I think the price will skyrocket soon. Flutter coin was and always will be in my favorites coin list.

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July 11, 2016, 12:11:23 AM
 #1093

great to see things been moving on all the time. I did like fluttercoin since it came out and its devs been doing great work on it. Thanks a lot for that!
I believe very much in flutter and its suprisely very undervalued at the moment. Just weit and see... I think the price will skyrocket soon. Flutter coin was and always will be in my favorites coin list.

it's fun and the PoT is excellent, that still is unique to fluttercoin.  I do need to work on the rollup code so that I can set my block sizes.  Right now it's set to 1000, but because most of my blocks are >1000 already, they just stake and don't roll up some of the smaller amounts like they should.  For instance, if I have lots of PoT rewards which I do on my staking wallets, when additional blocks stake it should roll these up into the larger blocks, and I just don't see it happening.  The wallet is accumulating lots of smaller blocks of 1-10 that just take up space, if they are >90 days old should be rolling up into the bigger blocks.  I did have some test code out that was working with this, i need to investigate this some.

--o

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August 11, 2016, 06:31:54 PM
 #1094

yeah, dev system is back up for testing, running some test compiles, then will look at making a few changes on the existing build before working on the new staking engine.

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August 12, 2016, 06:45:40 AM
 #1095

yeah, dev system is back up for testing, running some test compiles, then will look at making a few changes on the existing build before working on the new staking engine.

Do not forget to go outside to take a break sometimes and not sit in this "coding cave" nonstop.

As I see there is 39 active nodes right now, quite a lots - it is very healthy and safe for network having so many active peers constantly.

If I remember right last time I was looking the POW reward was bigger then is now. Am I right the POW reward went down from 5=>2 ?

We are grateful for your commitment in this project.

http://bitcoin.1free.eu/ - site for fun, will evolve in future.
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August 14, 2016, 04:42:13 AM
 #1096

yeah, dev system is back up for testing, running some test compiles, then will look at making a few changes on the existing build before working on the new staking engine.

Do not forget to go outside to take a break sometimes and not sit in this "coding cave" nonstop.

As I see there is 39 active nodes right now, quite a lots - it is very healthy and safe for network having so many active peers constantly.

If I remember right last time I was looking the POW reward was bigger then is now. Am I right the POW reward went down from 5=>2 ?

We are grateful for your commitment in this project.

looks like it halved on pow again

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August 19, 2016, 01:44:33 AM
 #1097

watching my 1000 blocks roll up into bigger blocks that I set for the split is pretty damn cool.  Most of the code is up on github now, testing a few other changes.

Question, the current code waits until blocks are 90 days old before it starts rolling them up (nStakeMaxAge), but I am wondering if rolling them up once they hit staking age (nStakeMinAge).

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August 20, 2016, 03:11:53 AM
 #1098

Can anyone using a fluttercoin.conf file check that listen=0 is not in the file?  This prevents clients from connecting to you to transfer blocks.  Also verify that port 7408 is open to your client (normally UPNP does this).

--o

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August 21, 2016, 05:33:25 PM
 #1099

latest updates on github

rpc
setstakesplitthreshold  - allows setting the split and combine thresholds to a specific value

Fix
reverted a change on block combining to prevent from excessive large blocks during the combine function
modified the time selection for a block to be considered for combining, previous function was not working as expected

--o

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August 23, 2016, 09:14:20 AM
 #1100

Poloniex decided to delist FLT on 9/5/2016.

On 9/5/2016, the following markets will be delisted: ABY, ADN, BITUSD, CNMT, DAO, DSH, FIBRE, FLT, GAP, GRS, HYP, IFC, LQD, MCN, MINT, MMC, MNTA, PIGGY, PTS, SILK, SWARM, WDC, XC, XCR, XPB, XUSD, YACC.
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