Topic: FLY COIN ANN.Swapping to "Las Vegas"coin,+Masternodes,Darksend,Stealth, instantX - page 47. (Read 186192 times)

i think thats the tricky part

u dont check balances of other addresses on normal bitcoin based wallets
u check just single tx which are involved in a transaction

so if someone send coin u know if he is the owner of that coins because he was able sign with correct key
and u can check that this tx he use as input is really unspend until yet

but u have no idea whats his wallet balance is

to do this u would have to know all his incoming and outgoing tx

and not just the few that are involved in a transaction

but if u say u have a solution then im looking forward to see it work

the only solution i see would be
1. each node is a little blockexplorer writting a database that constant track balance of each address
2. u try implement some stuff from miniblockchain (i think cryptonite is the only coin using it and its still in beta stage since forever)
they try to keep a balance of each address stored in the blockchain in a way that in theory u never need to sync more than 10000 blocks
and u know the correct balance of each address

both paths seems to be very complicated

but im no coder and have just a small limited knowledge about how blockchains based on bitcoins are working

maybe im total wrong  

I will post my opinion about FlyNodes. I really like the idea and sure it will make FLY price grow.
Buuut I still remember Vegasguy's saying "Help the little guy", it was in the old thread. To be honest, I don't know if such a rule is still in force, but in my opinion, FlyNodes WILL NOT help the little guy. "Little guys" won't receive anything while those who had a lot of coins before implementing this amazing feature will get even more. I will try to do some math.

One FlyNode costs 500 coins. Right now (12.09.16 23:10 UTC) on Yobit, 500 FLY at the sell side are worth about 0.34391704 BTC, I will round it to 0.34 BTC.
Now, I open random FlyCoin address from Block Explorer's richlist. I don't know who owns it. If we look on transactions associated with this address, we can see that this wallet does POS Mining. I didn't calculate a lot, but the average reward is 0.6~0.9 FLY, I will round it up to 1 FLY.
Masternode reward is 5% of the POS reward (I hope I understood it right, otherwise my math is wrong and not worth of further reading). 5% of 1 FLY is 0.05 FLY.
Now lets imagine that market is stable and the buy price is at least 55k sats.The minimum (without additional 200 FLYs) reward is going to be 2750 sats.
I opened the source code of GitHub to check out the maximum block time, it is 10 minutes.
So the minumum is (60 / 10) * 24 = 144 blocks per day. Lets assume that "when choosing the recepient of the masternode reward" everyone is equal, a guy with the bigger wallet won't have more chances. So, for example, there are 50 masternodes. Chance of me getting the reward is 1/50 (2%). Lets assume that the guy who owns that POS wallet sets up (6794 (wallet's current balance) \ 500) = 13 nodes + some chenage for an ice cream Let these 13 masternodes be a part of the total masternodes of the network, so the chance to get a reward is 13/50 (26%). With this probability, I imply that I'll receive 26% of the daily rewards (144 (min blocks/day) * 0.0000275 (price of the one reward) * 0.26 (chance)) = 0.0010296 BTC/day min. So, such amount of masternodes will be profitable after (0.34 * 13 (masternode price * masternode count) / 0.0010296 (BTC per day return)) about 330 days.

330 days even for the rich guy like whom wallet I used for doing math.
A poor, *cough* I mean "not so rich", guy like me who can't afford even 1 masternode at the current price will rely on POS rewards (for me, an estimated reward time is 450 days lol), but anyway the richier holders will receive a share of them.

I am *sure* that there IS a mistake in my math, so I'd be glad if someone corrects me.
Here is how I proved that the "lower class" will receive nothing but the rich people will benefit just more and more, however such process will be slow anyway.

So starting today , we are going to start giving out rewards from the superfly wallet for tweeting about "flynode". Your tweet must have an explanation of what it is, what it does, and the fact that only fly at this time has this special node.

Here is a reminder so far on what has been discussed: (you might even copy and paste this on the twitter page you choose). The twitter page must have a minimum of 200 followers and be crypto related. An additional bonus will be given to you, for a very positive tweet that might read something like this : Guys, fly is looking better than ever. The wallet is flawless, and everything works, and they have big plans like a multipool that pays out in fly and then the new flynode will be awesome!! Check out the details here:

So your welcome to copy the following and edit it to it fits into a tweet, or post it to a crypto-related social media like facebook.


Its not exactly a masternode as funds do not have to be locked away. Simply hold your balance in your wallet.
Flynode will choose random nodes for each block to reward to (Much the way Dash does)
Your balance will not affect your chances of being chosen or not. Everyone has the same chance.
The minimum to get a node is simply having a balance of 500 fly or more. Its automatic.  You wont need to lock, or collateralize in anyway.
500 fly will pay you 5% of the block reward, should you be chosen for that block.
Each additional 200 fly will reward you 1% more if the flynode chooses you.
The max reward is 50% of the block. To get this much would require you to hold 9500 fly.
Even if you have multiple addresses, our flynode system rewards you based on your entire balance from ALL addresses!!
The superblocks probability has already been raised 4x, and will probably be raised more.
Superblocks will play more of a role now than they ever have. Because for example if someone hits a superblock for say 50x , and it rewards 100 fly, and lets say based on your balance you get 20% of that, youll get 20 fly reward. Ill keep increasing the superblock probability until they become very common, as this will play a major role for much higher rewards.
POS is not much of a factor anymore. Flycoin will be more random.

So, beginning Mondays and ending Sundays at 5pm PST, we will have the social media campaign, and reward you from the superfly wallet. So you can even start today if you want. The most important part is you MUST post the link to your post to twitter,  like before in the fly thread as proof you posted to a social media account.You will also need to go to Presstabs richlist and claim an address. Just 1 address is fine, even if you have multiple. The purpose is : So I know where to send your reward every Tuesday. You must also post to a different social media account each time. Please dont spam the same social media account. That does not get the word out or help anyone. I know that I had posted that I wanted to raise the POS rate of superfly to 200% POS, and some of you were against it. Know this, I know who the top holders are, and they are disqualified from rewards. If I keep rewarding you guys every week, the superfly wallet will drain quickly , and there wont be any rewards. The superfly wallet belongs to YOU!!! I just send the funds. So I hate to override what you guys said, but I have no other choice, as you have given me no other ideas , except charge you guys fees, and we all know how that went. These funds go to YOU guys, NOT to the top holders. I want to structure this where I can pay higher rewards for fly supporters, and you can use this to get rewarded more on masternodes. This will be great for those that cannot afford the 500 fly or more to qualify for flynode rewards.  Everything will be posted, who got what each week. The Superfly wallet address is posted publicly so everyone can question any and all transactions ever made from it. But I always post what each transaction is anyway.


But wait, thats not fair, I cant afford 500 fly!?!?!? Ok.. here is your answer

I will be rewarding 50 -70 fly per week. I will divide that number between the amount of people that participate in the social media campaign. What im saying is, if you are the only one, you will get it all!!

When the superfly wallet raises its rate higher, Ill be able to give out much more. if I see a lot of participation, Ill ask the top holders to stake to superfly. I can already tell you they will

If you wish to take part in the social media campaign then start by claiming an address here: http://www.presstab.pw/phpexplorer/FLY/richlist.php

If you dont know how, or cant remember, just ask. We will repost instructions.

Update: I just came up with this idea, but I dont know if its possible. Even though the flynode will choose completely fair and even for everyone, I had this idea to help try to keep it more balanced.

I dont know if Griffith can do this or not.... Example.. lets say your luck is terrible.. and Flynode does not reward you for 2 weeks, is it possible to get a higher reward because you have not received a reward from fly node in so long? Kind of like staking where you get coin weight, and the longer you dont get a reward the more you get. This is simply an idea, and has not been confirmed by Griffith. But, IF its possible, I will have him implement it.

Vegas
 

Update to wallet version 2.4
Looking at the block explorer, I noticed we still have a few wallets
on version 2.1 and 2.2. Please check you version and update to 2.4

FlyNode or FlyNet is better because it keeps
the FlyCoin Brand out front. Of those 2, I prefer
the FlyNet name. Other suggestions?

I would love you guys to chime in, and ask any questions. This will help others understand what we are doing. As it is still being coded, there is still time to tweak the settings or change things. Now is the time to ask questions, or comment, or give suggesttions. We also need a name. Griffith came up with "Skynode" or I was thinking "flynode".

Vegas

using a similar caching system that dash uses for its masternodes to know what nodes are alive and not, the masternodes will be kept track of in a list on each client (the list is cached). the list of masternodes is a list of CMasterNode objects which is an extension of the CNode object holding additional fields for last time that node received a reward (not stored, for user purposes only) and a list of addresses from that wallet to be used in the calculation of how much money is actually in that wallet (default is all)

Cant you put someone elses address from the richlist in the list of your addresses to boost your rewards?
-yes, it would boost the total masternode reward in the block. but that list is also used for payouts in the terms of rewards, so adding someone elses node would be adding them to the payout list and giving them some of the coins you would earn, so overall it doesnt help you at all. it would actually hurt you. 

Does that mean people with more coins will get selected as a masternode for a block more often?
-No. like dash its random selection with some criteria (can be found in the MasterNodeControl class that vegas posted a link to).

How do i customize my masternode configuration?
-There will be a masternode.conf in the same location as your wallet.dat, you can customize your settings there and an RPC command will be available from within the wallet to update your settings so you dont need to restart the wallet upon update. This might also be available from a gui menu later.

How do the other nodes verify the balance of the masternode that was selected?
- It would do it the same way it verifies the balance of any address, the functionality is actually already built into the wallet. it just needs the list of addresses to get a total from. thats why the list is part of the CMasterNode class.

I just talked to Griffith a minute ago. I asked him again to confirm that a wallet can check its own balance. He confirmed it can, but not in the direct way that you would think. He said he will post here later today and explain how he will make it possible. This will be one of a kind, and unique, and will blow the doors wide open , and bring loads of attention and excitement to fly. Meanwhile those that have kept the faith and held their fly will be glad they did, as there is not enough fly on Yobit to even buy the smallest masternode (Name of new tech to be changed soon). Anyone that still doubts it, I have the top buy order on yobit that will buy 600 coins right this second. Money talks.

Update: Ive thought about this too. Here is proof that it IS possible at least a way that I came up with , and its this:

We would add another button , then when you press that button would take you to another page where YOU would input the address or addresses where your additonal rewards should go. Much like our savings feature where you could send your reward anywhere and to any address.

There. Thats one way.

Vegas

I thought about "wallet checking own balance", and Griffith assured me it can be done, by checking the chain. Also Cryptonit, you would be correct, it is not a masternode, as there will be no collateral funds. Because nothing like this has ever been done, I need to come up with a name for it. Or if anyone else might have a name. Griffith will be working on it all week. If there are doubts, then here is the link so, any of you can follow along. Keep in mind that he has only coded a couple of hours and it is not near complete, but he will be working on it throughout the week, so continue to check its progress.

https://github.com/Greg-Griffith/Flycoin/blob/masterNodeDev/src/masternode.cpp#L34

Vegas

this i doubt
its imppossible for a wallet to check balance of another address
only explorer who scan blockchain in a special way are able know the balance of a address that u dont own

so if u take this in account the check how much coins someone have and based on that increase his stakerate can be done just local and not verified by other nodes
which is a pandora box u dont wana open

additional u cant call a bonus stakerate system a masternode system
(masternodes not only generate a extra income it also make ur node offer services to the network in case of dash the support in anonymous transactions)

the way masternodes are working is build around a colateral TX because thats the only way other nodes can verify it
they dont know the balance of a other address but they can check a tx if it still have the coins in it unspend

i would wonder if griffith find other ways to do this

So ive been mapping the next step for fly, and I think what you are about to hear will blow your mind!!!!!!!!!!!!!!! Its so unique , I cant tell you how excited I am. The crazy Ideas I come up with.

So Initially I wanted a multi tier masternode. But even though that was very unique, I have something that is so unique, it might actually pave the way masternodes operate.

Ok here goes...

The minimum to get a masternode reward is 500 fly.

Dash picks random masternodes and rewards that masternode 40% of the block.

Our masternode system will also choose a random masternode each time. So each block it will select a random masternode and pay a reward based on your balance.
Our version of the masternode, will NOT require you to collateralize your funds. So, youll still get your POS rewards, and should you be chosen by the masternode system, youll get an addtional reward based on your balance.

The initial 500 fly will reward you 5% of the POS block , if you are chosen.
Each 200 fly that you hold in your wallet will reward you an additional 1% masternode reward.
The max reward is 50% of a block. To get that 50% is 9500 fly.
You can even have your balance in many different addresses in 1 wallet without a penalty. It checks the balance of every address in your wallet and totals them.

So in simplicity, you simply hold a minimum of 500 fly to get additional masternode rewards. No collateral required, nothing needs to be locked. You then add 200 fly to get an addtional 1% over time.

Ive been speaking with Griffith for the last 5 hours and he has confirmed this can and will be done. Possibly 2-3 weeks from now  

I think this system is so unique, there is no question many will adopt it, and it started here!

Vegas

So even though our buy price is low, what people dont look at is, in the coming weeks we will have masternodes. These masternodes will have the same model as dash where The masternode holders will divide 50% of all POS rewards based on how many masternodes they have. Here is the ironic part. Right now if you wanted to go on yobit and purchase the 500 fly to get the masternode, there are not enough for sale!!!  

So the best thing to do now, is to hold your fly, as there will soon be a large demand, and not near enough to supply, hence MUCH higher prices

Update: Ive just spoken to Griffith , and he is close to finishing a very basic multipool that we will start testing, this multipool will payout in fly. There will also bonuses paid out each week to the address with the largest hash for each algo. It will be a VERY fast and efficient pool.

Vegas

I sent a PM to infernoman about a week ago, and no response, but at that moment my message was about a multi tier Masternode. So thats probably why he didnt reply. Ive only heard good things about him. Ill have Metamorphin contact him again.

Vegas

https://github.com/Infernoman/Transfercoin

infernoman steve know him he did help europecoin for some project

I have 50 FLY for sale @ 0.0006 per FLY

Thanks
Crunck

Let me just add my personal thanks to both Griffith and Prophet for all you do for us.....well deserved income, just a token of appreciation...  want you (and the forum) to know what tremendous support you give so freely.

Thank you!

Guys sent 50 fly from the superfly account to Prophet for Pi wallet.

Thank you.

Vegas

Guys fly is going dirt cheap. I just got 380 more VERY cheap Put those buy orders in, and with the lower POS, fly will become near impossible to buy, and many will want to purchase it when the masternode goes it. So be aware, I am purposefully letting it fall, then when the masternodes go in, the price will rise. I will continue to add value and features. This IS the bottom price for fly See, I know how crypto works, and if people dont make a quick profit, then they dump at any price. What they didnt know is the features will come AFTER the weak hands are shaken out  Here is the other good news. The top 5 holders hold well over 70% of the money supply and we are not selling at all. So, there will come a point were it CANNOT dump any further, especially with the 10% POS Now you know why your with FLY

Gawd I LOVE the Crypto game  

https://www.yobit.net/en/trade/FLY/BTC



Vegas

Now guys, if your reading this, you are true fly loyalists. Many of you know I have exceptional skills in finance and money. Its not because I make money, its because I know how to leverage the power of money. Anyway here is a special gift to our US residents (and maybe outside of the USA , I dont know).

T-mobile (Maybe other carriers) are offering a brand new Iphone 7 for FREE!!!! Anyone that knows me, also knows I dont bullshit. If you have a working Iphone 6 (any kind), you can trade that in to tmobile and they will send you and iphone 7, and even pay for the shipping to return your Iphone 6. Your Iphone 6 must be working, and just have normal wear and tear, thats all!!! Now, if you have an Iphone 5, they will give you $50 for it (Must be working), and you have to deposit $99, and then pay $12.95 a month for the phone. Its comes to $350 for an iphone7 with 128gb , for $350. If youve shopped around , you know an Iphone 7 with 128gb ram is about a $750 phone. Now if you dont have an iphone 5 or 6, just find a used one that works, that is not locked or damaged. They accept normal wear and tear and small scratches. There are loads of places on the internet you can buy a used iphone. Seems like the best trade in is the used iphone 6. Thank you for being a loyal reader and enjoy. The other carriers like AT&T and verizon are doing specials on the upcoming Iphone7 (Released on Sept 16th) also.

So, I just gave you a FREE Iphone 7 , so dont say I never gave you nothing

Vegas

Address sent!
Strange, in my case any Qt wallet for Pi doesn't need more than 120~150 Mb of RAM, thus I can run 6 or 7 GUI wallets on my Banana Pi without swap.
But yes, daemons require much less memory