Topic: FLY COIN ANN.Swapping to "Las Vegas"coin,+Masternodes,Darksend,Stealth, instantX - page 112. (Read 186194 times)

We certainly could use some additional coding help. So I am issuing a 100 FLY bounty to the person who finds a qualified coder that can help us code our massive wallet changes. Specifically we need someone who has the time to code: "exempting everyone from withdrawal fees". Please note this bounty will be paid to the finder upon completion of the work.

Vegas

So I paid out 8 FLY to qualifying members from Superfly.

Thank you to all that participated.

Vegas

GregofDoom needs exemption - the one in the exemption
list is his cryptopia address instead of his Main address

So I wanted to update everyone. We still need more time exempting everyone. Its proving to be more challenging than originally thought. A few of you have been waiting patiently to be exempted from withdrawal fees. So we are going to make an update with some of the changes we have talked about including:


Superblock chances significantly increased.
Min Stake time raised to 9 days.
35% POS per year

The stake to self 0% and stake to exchange fee Im told is impossible by our devs, so im not sure what to do on this now.

New withdrawal exemptions:

The ones I know are:

Pokeytex
Galactic Pilgrim
Greg of doom

anyone Else?

Vegas

Altsheets - Thanks for posting - will take a look at your site!

This is a somehow weird -and thus interesting- coin.

Kudos for trying out high, and progressive TX fees
- I always wanted to see which market effects that has.


Actually, to be able to observe the price of FLYcoin more easily, today
I went through the whole coding process, and added one more exchange
to the DataServer of my "AltFolio" = Altcoin Portfolio Management System.

Proudly presenting ... and thanking FLY for the inspiration to do this:


 

P.S.: Whitelist my address please:   [FLY] FG8YdTJvwxjhD3JiQGxkofergXd54mJoNt  
   - happy 'bout donations, of course :-)

My twitter attack....

https://twitter.com/VCM_NOW/status/701532517581479937

I don't have 100 in my wallet, but I've got more than that waiting patiently to come home...lol

can't wait for the update...

Reminder - Get your Superfly Qualifying done for this Week
Current Period: Monday 2/15 thru - Sunday 2/21.

            Last Day for This Week.

If you miss a week, just re-qualify the next.

This is a great community glad to b part of it Fly coin is number 1 have a good Fly day ....

While we are still coding all of these changes, we can still implement other changes. I am still in favor of a lottery system. Lets look at another proposal:

Staking 35% per year

10%      chance of   2x Multiplier
  5%     chance of   3x Multiplier
  3%     chance of   5x Multiplier
  1%     chance of 10x Multiplier
1/2%    chance of 20x Multipiler
1/4%    chance of 50X Multiplier
1/100% chance of 100X multiplier

So thats a new twist on things. Hoping to get some feedback on this. This will make it have more of a lotto feel.

Vegas

Im not concerned about the price at this moment, because we have an enormous positive update that is being worked on as we speak that will bring massive positive changes to fly including withdrawal exemptions for all , as well as a 0% fee to stake to self and a 20% fee to stake to exchange (should help slow dumping and raise prices), as well as real world usage where you can buy things with fly. Buying up the price is a quick fix, this update will certainly raise the price and keep it there.

Vegas

My tweet:

https://twitter.com/gregofdoom/status/701436713558745088


When we get a new wallet?
I would like to send FLY from cryptopia to my wallet -  without charge

My Twitter words for the week : https://twitter.com/ASICrefugee/status/701414572767444995

I think Mark means that price is still going down.
Check the 3 months chart on Cryptopia, before 2016 FLY was trading at 250k~400k sats. What now? 100~150k. This makes me sad.
How about implementing something like "buying back", when Dev buys coins from an exchange to keep the minimum price stable?
Right now just 0.8 BTC can take FLY back to the about 450k

Concerning Superblocks - It is important to understand the overall effect of changes.
Any increase, without an off-setting decrease, is inflationary.

Superblocks are fun to receive but, most have never received a superblock - the
chances are very small (I have never received one and I have a lot of FLY).
Increasing the chances means more fun and  unexpected rewards. I like the excitement
and lottery aspect. Greater chances would mean most holders would receive them.

However, while I favor increasing the chances, I think percentage changes
should be smaller. For example,
10%   chance of   2x Multiplier
  5%   chance of   3x Multiplier
  3%   chance of   5x Multiplier
  1%   chance of 10x Multiplier
1/2%  chance of 20x Multipiler
1/4%  chance of 50X Multiplier

Overall this is an approx. a 1 in 5 chance of hitting a superblock. Or, put another way 1 superblock
every 5 times you stake (depending on your luck). I am not lucky and would probably never hit one.

It still means an increase in total POS paid out but, is 60% less inflationary than proposed
schedule. To balance total POS there would need to be a reduction of POS from 50% to 35%.

Currently the return is 50% (minus the 10% of the 50% as a fee to SuperFly) for a current effective
return of 45%. Thirty-five percent (35%) POS would be a 10% reduction in POS - with no 10% to
SuperFly. However, with the increase of the stake to exchange fee (going to SuperFly wallet)
increasing to 20% of the stake it will offset part of the inflation.

While there is some guesswork because there is no way to know if a small input block or a
large one will hit say a 25x or 50x multiplier. - a reasonable guess is a reduction from the current
effective POS of 45% to 38% would keep inflation at the current rate.

In other words if you got a 1 FLY POS before minus the SuperFly fee you ended up with .9 FLY
With this proposal, the 1 Fly POS staked to yourself would end up being .73 FLY plus, you would
have a 1 in 5 chance of getting a Superblock. Hit a  5x and you are the same, hit a 50x and you are way ahead.

Flip a coin - are you a gambler? Let's hear your opinion. As a large holder of FLY, I would donate any 10x, 25x or
50x Superblock to the SuperFly wallet.

Way to go, hashmaster!  Pick'em up a few at a time when the price is right! 

That would be cutting the POS rate in half.....

My last stake, on 337 coins was 1.755; cutting that in half would have dropped it to .8775, and when the effects of compounding are taken into account, this seems to represent a significant hit on my LONG TERM earnings.

If we are to preserve the principal of FLY, that is, hold for the long term, I believe we should NOT sacrifice solid long-term growth for instant gratification of a very few.  Maybe I'd feel differently if I won all the time, but the odds dictate differently.  In looking at the aspect of helping the little guy, you may help one, but in the process hurt many.

I am not for turning FLY into a coin presenting more risk to the LONG TERM benefit for which I think we created this coin; I can roll the dice with plenty other coins, but none offer the sanctity of FLY for long term holding.

I guess I'm not in favor, lol

Thanks for letting us have a say though; I of course will live with the decision.

Well I would like to get some feedback on this. If someone stakes 1 fly now , then that will stake 25 fly at a 50x jackpot, or 10 FLY at a 20x jackpot. So, this will give the little guys a chance on every stake to get fly that would normally be out of reach. But I need to get opinions about this soon as we are coding the big change that creates free withdrawals for all.

Vegas

This bring in new interests of course. I have a general question about superblocks. A guy with a big wallet has bigger chances to hit superblocks than a guy with smaller amounts? Proposal: We should describe it also for someone, who has only few FLY, how to split the blocks and reach bigger chances to hit superblocks like the bigger one.
I remember, that woody already calculated in the past optimized stakingrates for few examples!

Steve

So now our coding is moving at a rapid rate, would be the time to discuss some changes you guys would like to see. Even though some of you have never seen a superblock, I can assure you they are real and active and in the code. So this is just an idea I want to throw out there:

We could substantially raise the chance of superblocks in sacrifice of a lower POS.

So currently our superblock system looks like this:

1% chance of 2x multiplier
0.8% chance of 3x multiplier
0.18% chance of 5x multiplier
0.018% chance of 10x multiplier
0.0002% chance of 20x multiplier

If the majority of users wanted to drop the POS rate down to 25% , we could make our superblock system look like this:

25% chance of 2x multiplier
10% chance of 3x multiplier
5 % chance of 5x multiplier
3 % chance of 10x multiplier
1% chance of 20x multiplier
.25% chance of a 50x multiplier

So this would be kind of a built in lotto system. Fly already has special graphics in the transaction box that clearly will show that you have hit a superblock and what "X" amount it was.
For example if you typically stake 1 coin, and you hit a 20X multiplier , youll get 20 FLY instead of 1.

So let me hear your thoughts. If you want we can lower the POS rate a bit more and raise the chance % much higher. This would make the system VERY dependent on the superblock system. These are just ideas.

Vegas