In case anybody is wondering why the multipool announcement drove the price down:
1. People mine at multipools for an extra incentive like a bonus or a price draw and not to donate part of their profits. So most people probably thought the flutterpool will not get enough traction.
2. Unfortunately with multipools being launched everyday by other coins, saying you are launching beta in a week or so is being frowned upon.
1. People mine at multipools for an extra incentive like a bonus or a price draw and not to donate part of their profits. So most people probably thought the flutterpool will not get enough traction.
2. Unfortunately with multipools being launched everyday by other coins, saying you are launching beta in a week or so is being frowned upon.
I think you misunderstand the fee structure of the FLT multipool. There will only be a standard 2% fee for the pool, no different than BC... We plan to take funds directly from our cut and donate them to the Community Bounty Fund. I can also tell you have not done a ton of research into multipools. Coins that are launching quickly are all doing it via 3rd parties. This is not nearly as secure and extremely unprofessional in my opinion as it makes the developers look like they rushed. Not to mention that the there can be major scalability issues if you operate though 3rd party.
You must look at it with a different perspective, Fluttercoin did not create a multipool because it was all the hype. Our Mp is being created to generate in initial price stability/traction to make merchant adoption more attractive. Stability in the market is caused by a high volume of buyers and dumps from frictionless vendors. MP is one of the best ways to create high volumes of buys over a consistent period. The next step is merchant adoption which will take some more hard work, and atleast now we have a funding source for the future.
Sorry if it seems like I'm ranting but comparing the FLT multipool to any others is just plain wrong.
I guess the market misunderstood the idea as well. I think you described it here better than in the announcement. Just my opinion though. And yes I am not a multipool expert (same as 90%+ of the people who buy the coins).
