Post
Topic
Board Announcements (Altcoins)
Re: [ANN] FlutterCoin FLT NEW Proof Of Transaction PoT Rewards For Spending
by
verdun2003
on 24/04/2014, 12:18:23 UTC
The multipools are an artificial way to create demand short term. In the long run they work similar to a pyramid scheme, what I mean is you create demand for the same currency in which you get paid into, so the more expensive that currency gets, the less of it you receive (remember everything needs to run through BTC first).

BC did very well because it was the first coin to exploit the idea on a large scale and a few other coins (FAC for example) managed to get on that train for a short ride.

People need to be more concerned about building a strong community, about merchant adoption and about continuous development in order to stay on top of the wave of coins that are coming each and every day.

Seconding the community importance.  This cannot be stressed enough.  Look at poor beaten down reddcoin with a horrible ROI for traders, yet the community remains undeterred even though the coin has absolutely nothing going for it on a technical level (barebones litecoin copy and paste clone).  Yet they might be able to get traction if they keep up the community effort.  Yet here is Flutter with a genuinely amazing and interesting innovation to bring to cyptocurrency - one that is badly needed in fact (because it corrects the problem that there is too much incentive to hoard in deflationary currencies, so no merchant adoption happens for a long time if ever). But all people want to talk about is "what's the price going to be?  when is the multipool launched?  aww dumping again?Huh"    

People, if that's all you care about, go buy some yellowcoin or whitecoin or cinnicoin or whatever the P&D lemmingcoin flavor of the week is. Just admit to yourself you are only gambling here, nothing more than track betting but with "coins" instead of horses, and you have little interest or grasp of what cryptocurrencies bring to the internet nor any idea what separates a good, potentially significant innovation that will pay off long term like Proof of Transaction from a worthless one that is only good for a quick buck (if that), like a BC-style multipool.  If you have even once considered buying a dead-end turd like potcoin or one of the zero-innovation copies of blackcoin, you are not going to enjoy holding Flutter for long.  

If you lost a bunch of money in Gox or in cryptorush, or in bad trading overall, and are hoping for a hail mary play with a 10x return to make you whole again, buy FLT now and wait a few months.  If you are expecting anything at all to happen by this weekend, or after the multipool launches, go somewhere else with your gambling because you are very likely to be disappointed and end up selling more cheap coin at a loss to the more patient investors among us.

If you want to see Flutter succeed then i recommend reading up on the (VERY short) whitepaper that explains Proof of Transaction, learn what it is and how it works so that you can explain it to others in a coherent way.  And realize that there are only three main activities on which a proof system can be created in crypto:   Mining,  Saving, and Spending.  Mining was invented by Bitcoin.  Saving (Proof of Stake) started with Peercoin (I think... might have been an earlier lesser known coin).  And that leaves Spending - Proof of Transaction - which is made possible by Fluttercoin.  This isn't some little twist on some other idea or a stupid logo or theme or meme, it's a potential pillar of the entire ecosystem here.  

+1 - I do not think people comprehend the POT and its future effect on merchant adoption. Also, you got to love the 2% fee of the multipool to fund future projects, this is a long term viable way to add fundamental value to the coin. Who knows what the community will come up with with those extra funds? Time will tell.

I'll have to disagree with you regarding blackcoin though, if you take some extra time to analyse it, you'll see that the merchant push is very strong - and there's not too many coins out there that managed to "get out" of the crypto world. I believe fluttercoin is better suited for merchant adoption thanks to POT, and that the foundation will find creative ways to push merchants to accept flutter.