Topic: [ANN] FlutterCoin FLT Proof Of Transaction Cash Back for Sending & Recieving - page 232. (Read 368067 times)
April 01, 2014, 11:38:20 PM
Bter price seems to be rebounding a bit. The price moves over a wide range during the day. Big volume buys and sells
April 01, 2014, 11:34:58 PM
yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.
I think you're right except. The multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.
Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.
JL
Well, maybe. If he is putting in so much effort, he should just trade at bter, there's 10x more trading volume there. Mintpal has slowed down a lot.
April 01, 2014, 11:32:33 PM
I called this drop although I'm hating it.
I keep thinking, It could be that there will be billions of coins! Like I said simple economics is, more supply equals less demand equals lower price. There will be more than 2 billion coins by the end of this year. It's not rare... Especially in the ALT market.
This drop could also be from the stupid china news and how bitcoin is dropping. Most are trying to go to safe haven by changing it to fiat or actually buy bitcoin while It's on the cheaper end. I've been hearing $350s?
I keep thinking, It could be that there will be billions of coins! Like I said simple economics is, more supply equals less demand equals lower price. There will be more than 2 billion coins by the end of this year. It's not rare... Especially in the ALT market.
This drop could also be from the stupid china news and how bitcoin is dropping. Most are trying to go to safe haven by changing it to fiat or actually buy bitcoin while It's on the cheaper end. I've been hearing $350s?
Well you have to remember that when the network hasrhrate goes lower, you get more coins when mining. When bter added flutter to their exchange and the hashrate went way up, my 15mh was getting about 8-10k coins per day. Now I'm getting about 25-30k coins per day.
Same amount of coins being generated per day, just not enough buyers right now.
I'm really surprised proof of transaction hasn't caught on more.
Kidcoin, what if the reward for pot was lower, and hit more often? Think that would gain more interest?
April 01, 2014, 11:27:24 PM
yeah like i said on mintpal there is a pool that does a large volume of selling automatically and wipes out a lot of the buy orders on there. usually around 400000 to 700000 coins.
I think you're right except the multipool is selling only when there's volume to sell and when the volume's not there (ie right now) he is putting up these buy walls to narrow the spread and attract foolish FLT buyers. And yesterday it looks like many of his buy-walls were hit, leaving the multipool with more FLT. It looks like he finally couldn't take on much more FLT and has been selling the past 8 hours when he could. But just recently, volume dried up and so up came the buy walls again from 155 to now 170, totaling close to 800k FLT orders to buy.
Pretty much the way to hurt this multipool most is to not sell and not buy. Basically dry up liquidity and make him hold his FLT until he panic sells and crashes the FLT price at which point you then go in and buy the cheap FLT back up to this level or higher with ease. He is casting a heavy weight over FLT right now because he HAS to sell his mined FLT and convert to BTC; he is a multipool and his miners want their BTC and the longer he doesn't convert his FLT the longer his miners have to wait for the remaining FLT->BTC payouts and eventually his miners will be pissed that their payouts aren't as big as they should be.
JL
edited: typo.
April 01, 2014, 10:47:02 PM
Peercoin's rewards based on nBits...
Code:
int64 GetProofOfWorkReward(unsigned int nBits)
{
CBigNum bnSubsidyLimit = MAX_MINT_PROOF_OF_WORK;
CBigNum bnTarget;
bnTarget.SetCompact(nBits);
CBigNum bnTargetLimit = bnProofOfWorkLimit;
bnTargetLimit.SetCompact(bnTargetLimit.GetCompact());
// ppcoin: subsidy is cut in half every 16x multiply of difficulty
// A reasonably continuous curve is used to avoid shock to market
// (nSubsidyLimit / nSubsidy) ** 4 == bnProofOfWorkLimit / bnTarget
CBigNum bnLowerBound = CENT;
CBigNum bnUpperBound = bnSubsidyLimit;
while (bnLowerBound + CENT <= bnUpperBound)
{
CBigNum bnMidValue = (bnLowerBound + bnUpperBound) / 2;
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfWorkReward() : lower=%"PRI64d" upper=%"PRI64d" mid=%"PRI64d"\n", bnLowerBound.getuint64(), bnUpperBound.getuint64(), bnMidValue.getuint64());
if (bnMidValue * bnMidValue * bnMidValue * bnMidValue * bnTargetLimit > bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnTarget)
bnUpperBound = bnMidValue;
else
bnLowerBound = bnMidValue;
}
int64 nSubsidy = bnUpperBound.getuint64();
nSubsidy = (nSubsidy / CENT) * CENT;
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfWorkReward() : create=%s nBits=0x%08x nSubsidy=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nBits, nSubsidy);
return min(nSubsidy, MAX_MINT_PROOF_OF_WORK);
}
{
CBigNum bnSubsidyLimit = MAX_MINT_PROOF_OF_WORK;
CBigNum bnTarget;
bnTarget.SetCompact(nBits);
CBigNum bnTargetLimit = bnProofOfWorkLimit;
bnTargetLimit.SetCompact(bnTargetLimit.GetCompact());
// ppcoin: subsidy is cut in half every 16x multiply of difficulty
// A reasonably continuous curve is used to avoid shock to market
// (nSubsidyLimit / nSubsidy) ** 4 == bnProofOfWorkLimit / bnTarget
CBigNum bnLowerBound = CENT;
CBigNum bnUpperBound = bnSubsidyLimit;
while (bnLowerBound + CENT <= bnUpperBound)
{
CBigNum bnMidValue = (bnLowerBound + bnUpperBound) / 2;
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfWorkReward() : lower=%"PRI64d" upper=%"PRI64d" mid=%"PRI64d"\n", bnLowerBound.getuint64(), bnUpperBound.getuint64(), bnMidValue.getuint64());
if (bnMidValue * bnMidValue * bnMidValue * bnMidValue * bnTargetLimit > bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnSubsidyLimit * bnTarget)
bnUpperBound = bnMidValue;
else
bnLowerBound = bnMidValue;
}
int64 nSubsidy = bnUpperBound.getuint64();
nSubsidy = (nSubsidy / CENT) * CENT;
if (fDebug && GetBoolArg("-printcreation"))
printf("GetProofOfWorkReward() : create=%s nBits=0x%08x nSubsidy=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nBits, nSubsidy);
return min(nSubsidy, MAX_MINT_PROOF_OF_WORK);
}
April 01, 2014, 10:46:51 PM
Interesting. Maybe I'm not thinking about it clearly enough. I need to wake up and then actually use my noggin
April 01, 2014, 10:46:00 PM
That negates the point of variable difficulty
Nope... PeerCoin uses the same model April 01, 2014, 10:33:16 PM
That negates the point of variable difficulty
April 01, 2014, 10:23:56 PM
You would left the rewards as they are now, maximum 5K, 2.5K, etc, but adopted a system of adjusting the rewards down/up based on difficulty/hashrate, with the current reward levels being the maximums, possibly it could alleviate some dumping.
Say a multipool wanted to mine because it was profitable at 5000, but then their hashrate hit the coin and the reward dropped to say 4000, the coin may not be as profitable and they would switch to a new coin (maybe)
If you throw 20gH at it, say with ASIC's, maybe the reward will drop to 500 or something, and they would stop mining.
Say a multipool wanted to mine because it was profitable at 5000, but then their hashrate hit the coin and the reward dropped to say 4000, the coin may not be as profitable and they would switch to a new coin (maybe)
If you throw 20gH at it, say with ASIC's, maybe the reward will drop to 500 or something, and they would stop mining.
April 01, 2014, 10:07:18 PM
Just fork it into a coin that is 10000 satoshi each
April 01, 2014, 10:03:27 PM
Miners are dropping off because the reward has dropped to 5000...
This isn't true at all, the average of the reward should have been 5,000FLT in the first place if the rewards were actually random, so they wouldn't be getting any less coins, therefore the reward hasn't "dropped". This only matters to people specifically targeting profit as if the coin was a static 10,000FLT per block(or gaming the rewards and only targeting blocks greater than 5,000FLT).
We didn't want these people in the first place and if the hashrate has dropped because profit targeting multipools are gone, so be it, that is a good thing.
multipool miners is what I meant to say. People targeting the big blocks dropped off.
Wafflepool is still hitting us, but at least they can't target the big blocks anymore...
Those buy orders are getting really thin. wafflepool has another 800k to dump, sub 100sat here we come?
Should fork FLT into a coin that lowers the reward based on difficulty/hashrate
April 01, 2014, 10:00:46 PM
Price is super cheap. Dat Chinese fear
April 01, 2014, 07:52:07 PM
Miners are dropping off because the reward has dropped to 5000...
This isn't true at all, the average of the reward should have been 5,000FLT in the first place if the rewards were actually random, so they wouldn't be getting any less coins, therefore the reward hasn't "dropped". This only matters to people specifically targeting profit as if the coin was a static 10,000FLT per block(or gaming the rewards and only targeting blocks greater than 5,000FLT).
We didn't want these people in the first place and if the hashrate has dropped because profit targeting multipools are gone, so be it, that is a good thing.
multipool miners is what I meant to say. People targeting the big blocks dropped off.
Wafflepool is still hitting us, but at least they can't target the big blocks anymore...
Those buy orders are getting really thin. wafflepool has another 800k to dump, sub 100sat here we come?
April 01, 2014, 05:43:22 PM
Miners are dropping off because the reward has dropped to 5000...
why? I think the difference is small from random 1000-10000 and fixed 5000. The difference is bigger for multipools if they only mine blocks with better rewards.
April 01, 2014, 05:42:48 PM
Miners are dropping off because the reward has dropped to 5000...
This isn't true at all, the average of the reward should have been 5,000FLT in the first place if the rewards were actually random, so they wouldn't be getting any less coins, therefore the reward hasn't "dropped". This only matters to people specifically targeting profit as if the coin was a static 10,000FLT per block(or gaming the rewards and only targeting blocks greater than 5,000FLT).
We didn't want these people in the first place and if the hashrate has dropped because profit targeting multipools are gone, so be it, that is a good thing.
multipool miners is what I meant to say. People targeting the big blocks dropped off.
April 01, 2014, 05:07:59 PM
Miners are dropping off because the reward has dropped to 5000...
This isn't true at all, the average of the reward should have been 5,000FLT in the first place if the rewards were actually random, so they wouldn't be getting any less coins, therefore the reward hasn't "dropped". This only matters to people specifically targeting profit as if the coin was a static 10,000FLT per block(or gaming the rewards and only targeting blocks greater than 5,000FLT).
We didn't want these people in the first place and if the hashrate has dropped because profit targeting multipools are gone, so be it, that is a good thing.
April 01, 2014, 03:53:12 PM
Miners are dropping off because the reward has dropped to 5000...
why? I think the difference is small from random 1000-10000 and fixed 5000. The difference is bigger for multipools if they only mine blocks with better rewards.
April 01, 2014, 02:26:22 PM
spike down in price right before the fork, lets see if it spikes up after the successful fork
April 01, 2014, 02:21:29 PM
Miners are dropping off because the reward has dropped to 5000...
April 01, 2014, 02:01:05 PM
made me sweat! LOL fork is a success, reward is now 5000
Yeah we found block 22000.
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