Topic: [ANN] FlutterCoin FLT Proof Of Transaction Cash Back for Sending &amp; Recieving - page 95. (Read 368063 times)

Quote from: Halofire on May 13, 2014, 11:56:21 AM

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS. I'm sure there are others. 1400 XBC were stolen from Poloniex due to some form of 51% attack or injection. They had to increase deposit and withdraw confirmations to 1200. I do not support these coins so I do not remember the full details. Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.

To my knowledge, Colossuscoin was the first 100% PoS coin but they had a lot of pain to get it working. Dunno if it works that good as I haven't followed that coin for a long time now.

Its super easy to convert PPC or NVC or any PPC clone into a pure PoS. Its only a few lines (not even lines - really just numbers). Which is why some people were upset when I called a few coins which I will not name pure "clones" - but its the truth. Its just a few changed parameters to stake age and rejecting PoW blocks.

LeBarton

full member

Activity: 196

Merit: 100

Quote from: Halofire on May 13, 2014, 11:56:21 AM

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS. I'm sure there are others. 1400 XBC were stolen from Poloniex due to some form of 51% attack or injection. They had to increase deposit and withdraw confirmations to 1200. I do not support these coins so I do not remember the full details. Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.

To my knowledge, Colossuscoin was the first 100% PoS coin but they had a lot of pain to get it working. Dunno if it works that good as I haven't followed that coin for a long time now.

thekidcoin

sr. member

Activity: 308

Merit: 250

FlutterCoin Developer

PoW blocks are rejected...

thekidcoin

sr. member

Activity: 308

Merit: 250

FlutterCoin Developer

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS. I'm sure there are others. 1400 XBC were stolen from Poloniex due to some form of 51% attack or injection. They had to increase deposit and withdraw confirmations to 1200. I do not support these coins so I do not remember the full details. Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.

No they don't

BC doesn't, QTM doesn't.

Halofire

hero member

Activity: 938

Merit: 1000

@halofirebtc

Quote from: thekidcoin on May 13, 2014, 11:23:15 AM

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS. I'm sure there are others. 1400 XBC were stolen from Poloniex due to some form of 51% attack or injection. They had to increase deposit and withdraw confirmations to 1200. I do not support these coins so I do not remember the full details. Maybe someone else can chime in.

WC PoS was coded incorrectly resulting in it never kicking in to start securing the blockchain. The "afterhours" PoW hashrate dropped so low, 51% was inevitable. To re-secure, pools opened WC mining back up at the 10WC per block as was coded. It's still paying 10 to my knowledge. All pure pos have ''afterhours'' pow, btw.

Halofire

hero member

Activity: 938

Merit: 1000

@halofirebtc

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

edit: I have an idea like 'staking holes', but i want to hear what others think.

what if all stakeholders had coins at exchanges, or didn't have their wallet open?

Any idea what would happen?

There are other holes as well for sure.

Only my thoughts, idk if right or wrong:
if they didn't have wallet open, others would stake faster and more frequent, i'd think. You're basing on 100% unity, if all wallets offline or
if all stake holders had coins at exchanges. Coins at exchanges could fork or attack through staking would be possible, but that's why exchange wallets don't PoS. Kinda bad to take the coins off the PoS network, but the point of PoS is to keep in your own wallet, not the exchange. I'm sure there will be times where this gets dangerous, but to locate this hole in the time period given of it's existence (like a wormhole), I think it would be hard to manipulate.

Again, only thoughts. But am I getting close or haven't I got a clue still?

Facts I know: Most pure pos coins still run pow, at low network hashrates. That's the main hole I was thinking, as asics come out, they will dwarf the existing network hashrates, until the network hashrate adopts asics of it's own. Other hole is the transition from pow to pos, since most coins won't be staked depending on mincoinage, but this hole is one time event and is temporary.

thekidcoin

sr. member

Activity: 308

Merit: 250

FlutterCoin Developer

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

edit: I have an idea like 'staking holes', but i want to hear what others think.

what if all stakeholders had coins at exchanges, or didn't have their wallet open?

Any idea what would happen?

There are other holes as well for sure.

chris20131111

full member

Activity: 154

Merit: 100

Whoo hoo. Just scooped up 16k Flt for cheap.

Kuriso

hero member

Activity: 532

Merit: 500

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

If I'm not mistaken WC, BLU, and XBC are 3 coins that recently had issues with security because of pure POS. I'm sure there are others. 1400 XBC were stolen from Poloniex due to some form of 51% attack or injection. They had to increase deposit and withdraw confirmations to 1200. I do not support these coins so I do not remember the full details. Maybe someone else can chime in.

homeiss

member

Activity: 118

Merit: 10

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

I personally worry about transactions grinding to a halt with pure POS coins. If most people have their coins on an exchange and the rest of people don't have their wallet open staking coins the network is going to stop moving...

By leaving POW go forever, as well as having POS and POT we have the strongest network in the crypto world. The fluttercoin network should never stop and should be near impossible to 51% attack.

That's my understanding anyway.

Halofire

hero member

Activity: 938

Merit: 1000

@halofirebtc

Quote from: LeBarton on May 13, 2014, 09:35:32 AM

Once People realize that PURE PoS has some security issues that FLT addresses by keeping PoW the probably will stop bitching about it.
Seems PoT also add some security which is really great.

Im with FLT since the very beginning and i must say i am very impressed which the skills of thekidcoin. He seems to really know what he is doing.
He may lack some social skills but i personally like his way of commenting things here in the thread Grin

Please also ask yourself why there is still no Clone of Fluttercoin.
I personally believe its because this shit is so next level none of the random copycat devs understand it.

I wont give up my front row in this truly innovative coin. Keep up the good work!

Why do ppl keep saying that Pure PoS coins have security flaws?

edit: I have an idea like 'staking holes', but i want to hear what others think.

thekidcoin

sr. member

Activity: 308

Merit: 250

FlutterCoin Developer

+1 for the innovation of the coin

And I like his social skills when it comes to deal with whiners/price manipulators Grin

LOL I aim to please. Its like those restaurants where the waitress yells at you, and you keep going there because of the shtick

some1ell

newbie

Activity: 45

Merit: 0

Quote from: giveBTCpls on May 13, 2014, 09:35:48 AM

Quote from: fedmahnkassad on May 13, 2014, 12:24:28 AM

There are just too many coins coming each day and people start chasing quick profits, that is normal. If your coin is not expected to go at lease 5x in the next few weeks, then money gets moved out of it.

You see a coin move from 100 sats to 2000 in a couple of weeks and you then wonder why it falls later to 700, well a lot of people who bought at 100-150 cashed out and moved to the "next big thing". That does not take anything from the value of FLT in the long run.

And to give you an example with BTC, who do you think made the most money out of BTC, the people who chased quick profits and sold their few K quickly or the people who hold through the years?

But BTC was the first coin and has the monopoly. I support coins like FLT and im holding, but honestly who knows if in 1 or 2 years they will even be alive compared to BTC.

+1

thekidcoin

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Activity: 308

Merit: 250

FlutterCoin Developer

Quote from: SwedishGirl on May 13, 2014, 09:07:08 AM

OMG, this coin is sooooooo sexy! I found 3rd sexy coin in just a few hours! OMG, I am soooo happy!

I strive to bring the sexy...

giveBTCpls

sr. member

Activity: 322

Merit: 250

Quote from: fedmahnkassad on May 13, 2014, 12:24:28 AM

There are just too many coins coming each day and people start chasing quick profits, that is normal. If your coin is not expected to go at lease 5x in the next few weeks, then money gets moved out of it.

You see a coin move from 100 sats to 2000 in a couple of weeks and you then wonder why it falls later to 700, well a lot of people who bought at 100-150 cashed out and moved to the "next big thing". That does not take anything from the value of FLT in the long run.

And to give you an example with BTC, who do you think made the most money out of BTC, the people who chased quick profits and sold their few K quickly or the people who hold through the years?

But BTC was the first coin and has the monopoly. I support coins like FLT and im holding, but honestly who knows if in 1 or 2 years they will even be alive compared to BTC.

LeBarton

full member

Activity: 196

Merit: 100