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Author Topic: [ANN][FLT] Fluttercoin Ƹ̵̡Ӝ̵̨̄Ʒ | Proof of Transaction 3.0 | Update v0.7.5.22  (Read 127839 times)
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December 05, 2017, 01:59:32 AM
 #1281

2018 roadmap is being worked on a few things to think about.

We are approaching 410million Fluttercoin.  I don't want this to exceed 500million Fluttercoin overall so steps need to be taken to reduce the inflation rate.

To identify issues with this the following is currently happening:

Proof of Work is 1FLT now after halving, Proof of Transaction is now 5%of this or .05FLT.  This is pretty useless reward, I'm not sure why there's hashrate toward it.

Proof of Stake fluctuates between 100% - 5%.  Many times this is at 100% which explains the inflation issues.  When the coin was created it was supposed to be 5% (notes say at least 5% which it is I guess).  PoT pays 5% now on the PoS block as well which will have a random reward depending on the stake reward.

Couple of things i am thinking of...
  Leave PoW at 1FLT for now, but phase out PoW, it could be used as a vulnerability if someone wanted to throw a large amount of hashrate at it.

  Reduce Proof of Stake top end reward with the following options
    option 1 - top end halve with the blocks, so 100%, 50%, 25%, 10%, 5%  (at the 5% level and 410million that's another 20million coins yearly.  However, there's possibly not all coins are staking.
    option 2 - set a flat reward of 20FLT, PoT would then be 1FLT when it hits.  With about 1000blocks on average, should be about 720ish, that's 7million per year or 1.7% inflation.

Also we are considering lowering the stake minimum age, right now this is 30days.  Reducing this to 12hours or 24 hours with weight adjustment.  Then we would increase blocks staking on the network, which would help for times when the diff is high and blocks do not get found often.  More blocks, more steady staking.

I am also considering moving to a masternode code base, this is not decided yet, but I like the concept a lot.  Discussion around this would be setting masternodes to 100k requirement.  This would allow 4100 mns if max nodes were running.  Dash runs 4099 currently, and we would have additional FLT being added so people could still enter.  Doing this would be no easy task, and much likely will require a coinswap to the new chain.   Other coins have done this, but I will weigh it carefully if we can just do it within our existing client possibly in stages.

--o



Good news, the prices are cheap now

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December 05, 2017, 02:08:41 AM
 #1282

As an early investor, I am very happy to see that Fluttercoin project is still alive. The promotion in recent years has gained some market recognition. Next year's roadmap is also being planned and implemented step by step. Smiley

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December 05, 2017, 09:49:37 AM
 #1283

Almost decided stake reduction to 5%.  Maturity will stay the same initially.  Running the numbers 5% on a 25k block 1 day maturity is 3.xx and butterfly is .17, I don't like.  Same number over 30 where we are now is 104 and 3 respectively.  I do want faster stake provisions but if we lower to 1 day maturity then flat block reward of 20 would be my choice.  With this pot shares 1flt.  Note I spent long hours developing the PoS transaction sharing piece including rewrites of the transaction code to do randomized sharing on PoS, I iike it because you get random rewards.

This is a huge change for fluttercoin, almost a shock, but continuous sell pressure effects new investors coming in who look at inflation and other items to gauge future earnings.

FYI effective immediately staking wallets will be referred as "Butterfly nodes" to better reflect the coins purpose and that is proof of transaction..

I know many of us continued in this project because we believed in something greater than just the money.

a few things to newcomers...we are a zero premine coin, we are 100% community developed and supported.  Originally designed by thekidcoin, community took over after he left the project earlier on.  Personally I took a leave from most crypto for two years.  Fluttercoin needs some maintenance, it has been running well but it's time to get the engine tuned a little better.

More info from behind the scenes happening in discord chat.  I have requested help from a graphic designer about a new logo or reworking the current one (I like) and new theme graphics that we can use.

Wallet is themeable, colors backgrounds, etc.  it really is a pretty wallet if you download the theme packs.  Lot of thought has gone into it.

Use Fluttershare to send flt to friends automatically via your stake rewards.

Flutterspeed is also going to be reworked, not sure if it is back up and running fully, this allows for quickly bootstrapping the blockchain.  It's already in our client, the backend needs to be brought up.

Market has been very good to fluttercoin.  A few years ago we were trading at 6 or 7 sats, today we are at 10 sats which considering the meteoric well deserved rise of bitcoin we have grown with it.

Please join us in discord, if you can help, or just to hang out.
--o
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December 05, 2017, 01:50:35 PM
 #1284

Great news! I see already moving in exchange. Smiley
when does the new changes take effect? I guess first you should update wallet?

✨🌟🌟My signature space for rent! 🌟🌟✨
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December 06, 2017, 09:31:47 PM
 #1285

Great news! I see already moving in exchange. Smiley
when does the new changes take effect? I guess first you should update wallet?

We will test the changes on testnet first.  A dev branch will be opened up in nearterm so we can use it for testing things like this.  Properly testing these changes is very important as many of the changes will require complicated code updates.  If there are additional devs that want to contribute to the project please join us on discord where we are discussing features.

Once this is successful, we will schedule the changes, first a soft fork to run the new client by a certain date and then it only talks to the other new clients, and then the reduction starting at block x.  Similar to what we did when we need to update the code to prune off the outdated clients.  I'm thinking first part of Q1, maybe earliest mid january if everything lines up properly.

--o
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December 10, 2017, 07:12:22 AM
 #1286

Great news! I see already moving in exchange. Smiley
when does the new changes take effect? I guess first you should update wallet?

We will test the changes on testnet first.  A dev branch will be opened up in nearterm so we can use it for testing things like this.  Properly testing these changes is very important as many of the changes will require complicated code updates.  If there are additional devs that want to contribute to the project please join us on discord where we are discussing features.

Once this is successful, we will schedule the changes, first a soft fork to run the new client by a certain date and then it only talks to the other new clients, and then the reduction starting at block x.  Similar to what we did when we need to update the code to prune off the outdated clients.  I'm thinking first part of Q1, maybe earliest mid january if everything lines up properly.

--o

a little update, THIS DOES NOT AFFECT MAIN WALLETS at this time
testnet will be checked on 12/17 to do a test softfork, and then 12/20 for hardfork, I am testing syncs on both current main, and testnets to make sure it syncs and everything lines up with existing chain.  If all goes well during the testing, we will test a few clients doing a switch from current reward to reward reduction.  After testing is successful, we will decide on firm soft/hard fork dates so we can notify everyone.  Anyone have a preference on timeframe?  Thinking 2weeks for soft switch, then another 2weeks before hard switch.

--o
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December 12, 2017, 12:43:22 AM
 #1287

"...and everything lines up with existing chain" - good move, as FLT is listed already on https://www.cryptopia.co.nz/Exchange/?market=FLT_BTC, and to put there new coin (chain) is very expensive atm. - there should be no problems just to update clients.

"Thinking 2weeks for soft switch, then another 2weeks before hard switch" - it should be fine, everyone who is interested this coin should not miss the news by 4 weeks period of time - it's plenty of time looking by crypto standards.


http://bitcoin.1free.eu/ - site for fun, will evolve in future.
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December 12, 2017, 02:59:16 AM
 #1288

"...and everything lines up with existing chain" - good move, as FLT is listed already on https://www.cryptopia.co.nz/Exchange/?market=FLT_BTC, and to put there new coin (chain) is very expensive atm. - there should be no problems just to update clients.

"Thinking 2weeks for soft switch, then another 2weeks before hard switch" - it should be fine, everyone who is interested this coin should not miss the news by 4 weeks period of time - it's plenty of time looking by crypto standards.



Testnet Update --
Probably more detail in this post than necessary, but we have been quiet for awhile, time to be overly descriptive.

i have the test .21 client running on my main wallet and a testnet wallet.   Runs well, stakes well, syncs well.  "Testnet" scheduled for testing 12/17 and 12/20 to test client soft fork, then 12/20 move to new reward system.  Need to check with the other devs to verify they are ready as well.

you can review the test code changes from current master (ignore all the commits, I tested a few variety of options before I decided on final processing method)  //fork times will be adjusted once we finish testnet (DO NOT USE ON PRODUCTION, it will cause your client to FORK)  AGAIN, this is a testnet client ONLY.
https://github.com/ofeefee/fluttercoin/compare/master...ofeefee:testnet

FYI, if you have a github account, please consider adding a star to the ofeefee/fluttercoin repository.

If all goes well I'm thinking January 15th is softfork, and January 31st hardfork...so everyone will need to update to new client by January 15th, as new client won't talk to old client.  This gives a good 30+days before anything happens.  Once we past the 20th we will verify and post a final update and start contacting and tweeting it out, etc.

Until then business as usual!  Keep fluttering...

FYI, if there is a mobile dev out there who has done wallets for other coins please reach out.  I want to consider building a staking mobile wallet.  I need to reduce the cpu hit on current staking engine, but that is high on the todo list after we past this hurdle.

Once I get mobile wallets, and this could be coinomi, or others (yes we will need to add BIP32 for HD wallets), but i'm okay with those as well.

Graphics Update --
I have "hired" (loose term, more like coerced him!) someone to update some of the graphics around fluttercoin, including update to the logo which will allow us to continue promote brand awareness, stickers, tshirts, etc.  Finally get us a scalable logo, we lost the originals in the old days.  Also i will be putting a list of items to do in the near future.  Some twitter updates, website banners, etc.

Join us in discord to discuss anything you wish, it's pretty quiet now, more the merrier!

Regards,
--o
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December 12, 2017, 05:23:35 AM
 #1289

FlutterCoin realtime data
https://bitscreener.com/coins/fluttercoin/real_time

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December 13, 2017, 03:37:18 AM
 #1290

I spoke of the butterfly effect, this is proof of transaction, which is unique to fluttercoin.  To demonstrate what this means...
http://www.presstab.pw/phpexplorer/FLT/tx.php?tx=b3198b94771fb3441b33569b435312a08502e4d3327356e853a9c3cb276d2f94

In this transaction FPogVHwJs2WDudUwnWTAwGaTEXA9zGW9yE is staking a block of 2933.939494 producing a stake reward of 111.23187400.  This is then paid back to the staking wallet for 105.670281, and then proof of transaction pays out 5.561593 to FAnPwSdhQoVNsqk3GQSTPebfTyKGjXMEuT which was active in the last block.  Interesting point on this, looking back at the previous block, they also received a proof of transaction reward because they staked coins in the block before this.  So in essence they received two proof of transaction rewards without doing anything other than using the coin.

This is the beauty of fluttercoin.  Receive an extra 3.281357 and then an extra 5.56159 all for using the coin!

--o

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December 13, 2017, 11:01:03 AM
 #1291

FlutterCoin realtime data
https://bitscreener.com/coins/fluttercoin/real_time

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December 14, 2017, 11:15:46 PM
 #1292

Is there a new set of nodes to connect to? I can't seem to sync my wallet. Can someone please drop an example of a conf file, if needed? Thanks!
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December 15, 2017, 01:03:21 AM
 #1293

Is there a new set of nodes to connect to? I can't seem to sync my wallet. Can someone please drop an example of a conf file, if needed? Thanks!


file name should be fluttercoin.conf , located in a folder with chain of this coin, (usually C: drive   ...blabla...Roaming/.)
to get nodes you can go  https://www.cryptopia.co.nz/CoinInfo/?coin=FLT   , then click "Connections"  , after a second you will see a window with active nodes - so just copy&pase it into conf file, restart client, job done.

by the way, there is some short FLT video on YT: https://youtu.be/KjDOJBrMhvk


http://bitcoin.1free.eu/ - site for fun, will evolve in future.
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December 15, 2017, 05:53:21 AM
 #1294

Is there a new set of nodes to connect to? I can't seem to sync my wallet. Can someone please drop an example of a conf file, if needed? Thanks!

You shouldn't need nodes, the main sync node is up, but if you need to it does get you going faster because it doesn't have to search for them.

--o
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December 18, 2017, 01:48:18 AM
 #1295

FlutterCoin realtime data on web; working with Chrome, Firefox, and Safari
https://bitscreener.com/coins/fluttercoin/real_time

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December 21, 2017, 12:53:46 PM
 #1296

so fluttercoin is coming back from the dead?

time to pamp to $1 i guess

 Grin
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December 21, 2017, 02:12:15 PM
 #1297

so fluttercoin is coming back from the dead?

time to pamp to $1 i guess

 Grin

This price is entirely possible, but before a very beautiful currency

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December 22, 2017, 08:02:24 AM
 #1298

so fluttercoin is coming back from the dead?

time to pamp to $1 i guess

 Grin

i hope to $2  Grin
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December 23, 2017, 05:23:04 AM
 #1299

Maybe fluttercoin should rebrand to be a privacy centred coin just like XVG.

bloody noobs certainly seem to discard the coinsupply on XVG and seem intent to pamp it to $1.

Fluttercoin can be better.

Flutter used to be a poloniex coin afterall.....

 Grin
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December 23, 2017, 05:23:10 AM
 #1300

Quick update, testnet with new .21 nodes are staking with 5% interest value.  Doing final testing make sure no gotchas, and then we will update github master with client updates.  Initially I'm thinking January 20th soft fork, and then January27th hard fork.  Will update as I have information.  I hope everyone has a Merry Christmas, enjoy spending time with family and friends.

Keep on fluttering

--o
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