Topic: [ANN] FlutterCoin FLT Proof Of Transaction Cash Back for Sending & Recieving - page 43. (Read 368063 times)

We have a same idea but with different approach in terms of implementation.

I get your point, but it's not like we give 500 coins to everyone.We could reduce it to 5 coins per person.It's not much but it will create interest in the coin and help grow our community, besides I think it's not worse than donating to faucet.Or we can give 5 coins to everyone who registers in www.fluttercointalk.com  and leaves a message about fluttercoin.About me registering at www.fluttercointalk.com (if you were referring to me), I'll consider it and when I register I'll give me 5 flutters  
Even bitcoin had faucets giveways.Does that make it worthless?. What's about twitter tipbot giveaways like Jeff Jefferson said?
I'm more than willing to donate if someone takes that task to create promotional video.The fluttercoin has one dev as far as i'm aware and I think he doesn't need that 10 coins.
If it was worthless nobody would be here.

Regards

just checked my wallet and everything is fine.

after shutting fluttercoin down, loading my wallet, and rescan, i'm now trying to sync additional blocks.  I checked explorer, I'm trying to sync blocks on the other chain again!

Please everyone, check your wallets!

you do realize that giving a couple FLT a day isn't going to tell people "oh, that must be a totally worthless coin" i mean there are faucets for EVERY coin, even BTC. Plus what is your opinion on all the twitter tipbot giveaways? totally useless?

Faucets are for people who don't know about fluttercoin and want to get to know it. Plus they might experience PoS through a faucet.

And it is really too much of an effort to try to scam coins from faucets because a faucet gives away only very little coins per day. Additionally every good faucet has securty measures like captchas and so on. Of course there are different ways to trick the security measures but it isn't really worth it. I'm not talking about giving away thousands FLT a day. Maybe 5-20.

I backed up wallet, deleted and resynced on fresh wallet, I am matching official explorer now, going to load my wallet and rescan.

I suggest everyone hover over your green check mark, if you don't match up with the official explorer, you need to resync.

I'm not a fan of pure giveway rally - it share a tricky message : "We are generous" and "FLT is so worthless we can give it big time". 

Fluttercoin is not Dogecoin.

Please don't help creating a worthless image for FLT !

If we wan't this coin to succeed, we should keep those 10 FLT to pay devs and promotion.  People will come when we will release new feature, when we will share information about PoT, etc. 

Please register at www.fluttercointalk.com 

PS: Oh and dont get me wrong, I do like to give to someone deserving it !  I'll be the first to give up to 50 000 FLT to pay for the video. 

What are the actual PoT & PoS specs so I can update the OP banner?

I would be in for that. (coinlighter idea). Willing to chip in 1k FLT. Don't believe much in faucets either.

Kidcoin, please update us with the fork situation

Sorry but I don't believe in faucets cause small number of people can repeatedly claim the coins and dry up that, but I have another idea. Why don't we open the giveaway thread here in BCT and give everyone 20 coins only if the account is registered  no later than May 31 2014.I will donate 4000 coins to that cause.That way we might grow our community.
What do you guys think about it?

Guys I think Fluttercoin def needs a proper faucet. I contacted the developer of this wallet http://mintcoin.cyanrainbow.com/faucet

I use it for Mintcoin and it's really nice. The developer is willing to do a faucet but he needs some fluttercoins to fill the faucet. I don't have much but I'm willing to contribute 1000 FLT. Maybe together we can collect some FLT so that the developer can make this faucet.
And by using a faucet maybe some PoS coins will appear, who knows?

So what do you think. Anyone else is willing to contribute?

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Ya my wallet got stuck again after reloading so I shut mine down to. Somethings up. We will just have to wait to see what Thekidcoin says. Maybe someone forking again with a lot hash?

Fluttercoin Wants to Reward Your Spending: Interview with TheKidCoin

 David Parker  17/04/2014  Altcoins, Exclusive, Interviews, News 2 Comments
reddit share  twitter share  facebook share  google share  linkedin share fluttercoin logo
Fluttercoin’s logo reflects its three reward systems as well the cause-and-effect nature of some of the rewards.
One reality often grappled with in the digital currency sector is what’s seen as an unequal distribution of newly created bitcoins.

While Satoshi Nakamoto originally envisioned a currency everyone could participate in and be rewarded, powerful hashing-farms have muscled out even the most determined hobbyists – forcing them to mine more profitable alt-coins.

First came Scrypt – an algorithm promising to be ASIC resistant.  As Scrypt-ASICs are now entering the scene, the alt-coin market has responded by producing Scrypt-N, Proof of Stake, and now Proof of Transaction rewards. (Proof of Transaction whitepaper here)

While “Proof of Work” rewards computing power, and “Proof of Stake” rewards interest based on a user’s holdings, “Proof of Transaction” introduces the possibility of rewards based on completing a transaction – creating an inherent pressure to transact in coins implementing Proof of Transaction.


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Fluttercoin

Launched in early March, Fluttercoin incorporates Proof of Work, Stake, and Transaction.  This “all-of-the-above” approach encourages a robust ecosystem for the coin.  Fluttercoin’s creator TheKidCoin told me,

I see POW as the miner’s system of rewards, POS as the investor or stake holder’s system of rewards, and POT as all of the above plus the everyday adopter of the coin’s system of rewards.

All three methods have their own merit for securing and facilitating transactions on the network.

Initially only POS/POT was envisioned for Fluttercoin, but with so many people invested in mining equipment, TheKidCoin felt a POW mining stage could help ensure a fair distribution for the coin.

Even with his change of heart, TheKidCoin has not forgotten the main purpose of creating Fluttercoin and Proof of Transaction,

The motivation  [...] was to create a currency where miners weren’t the only participants rewarded, as is the case with all other currencies.  The long-term success of a currency is with its acceptance as a method of payment, gift, or even donation.  Proof-of-transaction rewards the spending of fluttercoins, by giving adopters of the coin the opportunity to be rewarded by simply sending/receiving coins.

While simply rewarding users for transacting seems idealistic and easily exploited at face value, the way it is implemented in Fluttercoin seems to offer more of a psychological encouragement rather than a strict reward.

How Proof of Transaction Works

Every block that is mined will generate a certain hash, and each participant’s address is translated to hex format.

From each address, a “search term” of a few characters is selected.

Each node that receives the block will compare these search terms to the block hash, and when a match is found the address that generated the search term is rewarded a part of the reward from the following block.

TheKidCoin explains,

POT rewards are generated by chance 100% – which eliminated guessing etc.  It is always decided after a block is mined – and on the subsequent block it is rewarded.  However, POT verifies transactions on every POW block (and never on a POS block). The POT verification algorithm runs whether there is a reward or not, thus verifying that a miner did not try to disable POT to increase their reward, and that the transactions again are in the correct order, have the correct addresses, and that the coinbase reward is valid.

Because the reward is entirely random, this (among other features) discourages people from just sending transactions to themselves in order to be rewarded.

In this way, the Proof of Transaction reward is designed as a type of “points back” benefit for transacting in Fluttercoin; making it better than using other currencies, while leaving it as secure as possible.

What’s Next

Like everything else in the crypto-currency space, Fluttercoin is a work in progress.  TheKidCoin plans on continuing to evaluate reward structures and to adjust as necessary, building the wallet to optimize user experience, and integrating with a payment processor.

I personally think once POT is understood, it will lead future currencies to adopt it.  Some have suggested Fluttercoin should be weary of this – but open source is open source, and to me it’s actually a compliment to use my system in some way.  However, even before the coin was released, I was thinking up new ways to expand upon POT security and possible reward systems attached.

That is often the pitfall of open-source work – it requires some of the hardest work while providing minimal reward, but for TheKidCoin recognition is reward enough:

I hope that Fluttercoin not only is a huge success, but that it is the start of a new era in electronic currencies.  That is really is all I can hope for.

As long as people are willing to build on new ideas, Fluttercoin won’t be the last digital currency to take flight.

These are current on their stats pages...

pool - miningwithus
Next Network Block   85591
Current: 85590
Last Block Found   85590

flt.cloudminers
Next Network Block   85,685    (Current: 85,684)
Last Block Found   85,607

EDIT:  i shut everything down, until it's sorted out.

From Official Fluttercoin twitter

https://twitter.com/thekidcoin/status/480063094320680960


Excellent news. That would be great when released.

I think this should be sticked to the first post.

i just started my client today and it synced up.  I have block 85673, explorer shows 85612?

wassup?

I have 47 active connections on the network as well.

I just staked a 30k block a few minutes ago, had my wallet open for about an hour or so.  Got 2528 FLT, oh yeah!

Ok, we all may as well just ignore him b/c he will never stop whining about the price so lets just ignore him from here on out.


Back to the topic

Has anyone gotten PoS today? My wallet is synced but this morning I was showing stakeing in 2 hours, just checked now and haven't received PoS at all and it is still showing 2 hours. When I woke up this moning my wallet was stuck on some block so I had to delete everything and load it again. Not sure if its just my wallet or is anyone else having problem with staking today? Also yesterday and Wednesday my only 2 PoS were orphaned. Anyone else have any orphaned PoS from a day or two ago?

This is fun, love flt!