Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction

Quote from: seattletu on April 16, 2014, 10:26:08 AM

Quote from: mikeymillie on April 16, 2014, 10:24:07 AM

dumb question here, go easy on me gang.

Do PoS and PoT have opposite incentives?
As I understand it, PoS encourages holding, but PoT encourages spending.
So are these forces cancelled out or diluted to half their strength (assuming they are equally rewarding for their respective loss of opportunity cost)?

well, look at it this way. PoS gives you coins just like any other PoS coin. but if you happen to send or spend the coins, and least you have PoT with this coin. not so with any other coin.

Basically it's a no-brainer if you have to choose whether to pay with this currency or another one. It's like would you pay with your Visa and have the chance to get your money back 2x or would you pay with your MasterCard and not have that chance?

Also FLT rewards both people who hold and who move the coins so you are having the same options like 1. Keep your money in the bank and get a monthly interest rate or 2. Make them your preferred choice of payment and get cash-backs. I am giving examples from current payment systems, hopefully people will be able to understand easier how this coin combines the 2 most important drivers for consumers when they select currency and payment method of their choice. It's just a matter of time before merchants start to warm about the idea as they get the same benefits as well, since PoT works when you receive a payment as well.

And by the way this is coming from a person with 6 years of background in Online Payments sales working on a C level with some of the biggest Games and Forex companies.