Bitflate - Bitcoin with inflation

[Lubruselu 2803]

51 minutes ago, benithomasha said:

I'n not leaving with nay Nakamoto so i don't think he's my neighbor LOL. maybe i saw him once on a tv and had no idea i'ts him as many of you don't.

May be you are him lol... 😂😂😂 or may be me is satoshi nakamoto lol, so you have to proudly your self today you chat with nakamoto in cryptotalk😂

[Lubruselu 2803]

6 minutes ago, benithomasha said:

You know what dude, i'm Nakamoto LOL, the creator of Bitcoin and the founder of cleanmadeUI Company. Today i expose myself.

Ha ha ha so proudly to here that Mr nakamoto😂 but why you are here to get bounty of 0.00001 btc while you have net worth 6 millions btc lol!

[Lubruselu 2803]

8 minutes ago, benithomasha said:

😂 No i'm  not here for that 1000 satoshis i'm here to teach the world about Crypto specifically Bitcoin the Mother o all cryptocurrencies.

Ha ha ha 😂 really cryptotalk is best forum ever it's make satoshi nakamoto to reveal his self here for the first time lol!

[samarkamane 111]

Bitcoin may lead in the near future paper currency market that the people of the world are fed up with the control of one currency world is serving only them and not vulnerable people I am the next best

[German222 1152]

 

In our modern world, everything implies inflation, and even cryptocurrency is a very interesting fact that we cannot escape from.

[dnprock 10]

@BitTyro, to be honest, I consider Bitflate is an experimental project. I think it could work. If not, I hope the idea, using inflation to create digital native stablecoin, survives. I think I have a fairly good design for the coin. It will take another 3 more years until inflation kicks in. So there is a lot of uncertainty. My current focus is community outreach and building. I want to provide better wallet options (e.g. mobile) for Bitflate. That's probably what I'll do next. I've worked through many hoops to get to this stage with software, website, stable mining, and exchange. If anyone can help, that'd be awesome.

The website is basic. Bitflate is not investor backed, nothing fancy, no gimmick, just plain Proof of Work cryptocurrency.

Edited October 23, 2019 by dnprock

[Scottsummers 347]

Sounds like the dream in theory to be honest. Obviously not everyone wants inflation though. To many projects from BTC that fall flat so I wish you guys the best of luck.

[seriousguywithfunnypants 266]

On 10/18/2019 at 1:30 AM, dnprock said:

Hello,

I'm working on a new Bitcoin fork, Bitflate. The main difference: It inflates 7% per year. The project's goal is to create a stable crypto currency, stable coin through inflation.

It has the following differences:

- It creates 19,3 million coins in the first 4 halvings.
- In subsequent halvings, coins inflate 7%.
- Proof of Work timespan is 3.5 days. We want 1-year halving interval.

https://bitflate.org/

Download the latest binaries: https://github.com/bitflate/bitflate/releases/tag/v0.18.1

What is Bitflate?

Bitflate is a Bitcoin-based crypto currency. Bitflate has inflated supply.

Bitflate chain is separate and has no relationship with Bitcoin chain.

Why Bitflate?

Bitcoin has a supply limit of 21 million coins. This limit creates a value puzzle for Bitcoin. When all bitcoins are mined, there’s 0 coin reward. This means the value of a bitcoin can be infinite.

Bitcoin encourages HODL behavior. It’s being seen as a Store of Value (SoV). We believe other cryptocurrencies with a supply limit would behave as a SoV.

The goal is to create a stable crypto currency, stable coin through inflation.

By adding inflation, we can:

- Prevent price from fluctuating wildly.
- Discourage HODL behavior, increase liquidity.

More information: https://bitflate.github.io/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

Mining pool:

https://www.mining-dutch.nl

We're looking for developers, marketers. Come join the project if you're interested. My email contact at bitflate dot org.

Bitflate is trading on Unnamed Exchange. Use with caution. https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our Discord community: https://discord.gg/utnEyp8

Interesting project. However, what does distinguish your project from Bitcoin. You just mention numbers but which real-world problem will your project solve?

[BitTyro 148]

@dnprock in that case, I'll stay on the side watching this project. Keep us updated, yes? Post any development on this project.

Good luck mate.

[Yoona456 61]

this project is very intresting, by the way, do you have active bounty campaing

i would like to join the bounty if available...

[Agios 1763]

On 10/18/2019 at 12:30 PM, dnprock said:

Hello,

I'm working on a new Bitcoin fork, Bitflate. The main difference: It inflates 7% per year. The project's goal is to create a stable crypto currency, stable coin through inflation.

It has the following differences:

- It creates 19,3 million coins in the first 4 halvings.
- In subsequent halvings, coins inflate 7%.
- Proof of Work timespan is 3.5 days. We want 1-year halving interval.

https://bitflate.org/

Download the latest binaries: https://github.com/bitflate/bitflate/releases/tag/v0.18.1

What is Bitflate?

Bitflate is a Bitcoin-based crypto currency. Bitflate has inflated supply.

Bitflate chain is separate and has no relationship with Bitcoin chain.

Why Bitflate?

Bitcoin has a supply limit of 21 million coins. This limit creates a value puzzle for Bitcoin. When all bitcoins are mined, there’s 0 coin reward. This means the value of a bitcoin can be infinite.

Bitcoin encourages HODL behavior. It’s being seen as a Store of Value (SoV). We believe other cryptocurrencies with a supply limit would behave as a SoV.

The goal is to create a stable crypto currency, stable coin through inflation.

By adding inflation, we can:

- Prevent price from fluctuating wildly.
- Discourage HODL behavior, increase liquidity.

More information: https://bitflate.github.io/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

Mining pool:

https://www.mining-dutch.nl

We're looking for developers, marketers. Come join the project if you're interested. My email contact at bitflate dot org.

Bitflate is trading on Unnamed Exchange. Use with caution. https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our Discord community: https://discord.gg/utnEyp8

Sounds good, Get to know the new crypto which is Bitflate. I have studied Bitflate unnamed exchange at a glance. but unfortunately I have not found a wallet to store Bitflate. I am interested in this new crypto and will learn more.

 

[dnprock 10]

@Agios, you can download the Bitflate Core client. It comes with a wallet.

https://github.com/bitflate/bitflate/releases/tag/v0.18.1

Bitflate mining just passed 50k block and 2.5 million coin supply today.

https://explorer.bitflate.org/block/00000000000004eb51e35bcbc0cc1c2b1d75f8dea4614b701907bda93a161435

Price on Unnamed Exchange went up to 10 sats. Please do your own research. Bitflate is experimental.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

[spyaquino 907]

Cryptocurrency with inflation. But I did not understand very well, I would like more details of this fork project, if possible.

[Elton23 202]

On 10/18/2019 at 6:45 AM, dnprock said:

Bitflate is already launched on mainnet 🙂. It's trading on Unnamed Exchange. Not much volume though. Current price is 6 sats per BFL coin.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

I'm not sure what pound clothing is. Can you explain?

Interesting topic, so it is on mainnet, is there any plans to list it on Yobit? Also I read the original topic post and you quote 7% increase per year? How can you guarantee this year on year? Seems like a long shot to me to be honest...

[666Stein 37]

how is bitflate work? does it give any benefit by doing inflanation?

is there any full information about project and usecase? i would like to know that stuff

[dnprock 10]

On 10/23/2019 at 4:39 PM, seriousguywithfunnypants said:

Interesting project. However, what does distinguish your project from Bitcoin. You just mention numbers but which real-world problem will your project solve?

@seriousguywithfunnypants, Bitflate is designed to be a transaction coin. I believe adding inflation would reduce price volatility, aka, stablecoin. Bitflate is digital native and decentralized like Bitcoin. I think it can help people who are not familiar to learn about crypto.

I made this simple diagram to explain where Bitflate is in the market.

Fiat <==> Bitcoin
Centralized <==> Decentralized

Centralized <=> Pegged/Centralized Stablecoin (Tether, USDC) <=> Semi-centralized Stablecoin (Libra) <=> Decentralized Stablecoin (Bitflate) <=> Decentralized

I wrote a couple of articles about Bitflate. For those who are interested to learn more, checkout these articles:

Bitflate - Cryptocurrency with Constant Inflation
https://bitflate.org/post/2019/04/14/bitflate-cryptocurrency-with-constant-inflation.html

The Next Big Thing in Crypto: Using Inflation to Create Stablecoin
https://bitflate.org/post/2019/10/10/the-next-big-thing-in-crypto-using-inflation-to-create-stablecoin.html

Building Stablecoin: Bitflate vs. Libra
https://bitflate.org/post/2019/10/22/building-stablecoin-bitflate-vs-libra.html

[dnprock 10]

Some update today. Mining activity of Bitflate is increasing. Difficulty has gone from 700K to 2.3M.

Block: 52.7k.
Coin supply: 2.6 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

[hexwin 4931]

2 minutes ago, dnprock said:

Some update today. Mining activity of Bitflate is increasing. Difficulty has gone from 700K to 2.3M.

Block: 52.7k.
Coin supply: 2.6 million.

https://explorer.bitflate.org/

Bitflate (BFL) is now trading on Unnamed Exchange.

https://www.unnamed.exchange/Exchange?market=BFL_BTC

Join our discord community: https://discord.gg/utnEyp8

How much Bitflate nodes are in total and do you plan to be listed on some other exchange?
I heard not so good things about Unnamed Exchange

[dnprock 10]

@hexwin, I don't know how many nodes we have on the network. I think it reached more than a hundred nodes already. There's a list of nodes on the network in the explorer page:

https://explorer.bitflate.org/network

We hit some bumps with Unnamed Exchange. The owner is a bit unfriendly. But he is responsive and the exchange works. I buy my BFL coins there and withdraw to my local wallet. It's working for Bitflate community now. I'm not actively looking for more exchanges. They all ask money for listing. Bitflate is a decentralized coin. We don't have a central authority to pay for listing fees. I previously asked for listing fee donation.

Btw, I just checked out your website. It looks like we may be able to work together. Bitflate is still early. But once we gain momentum, I think interest saving BFL account would be awesome.

@soundcamphyd, Bitflate potential supply is unlimited. Its running supply is limited by inflation rate. This coin is designed to be a transaction coin. But it does reward early adopter with more coins. Reward schedule every 1 year:

0: 50 (halve)
1: 25 (halve)
2: 12.5 (halve)
3: 6.25 (end of halving)
4: 6.65 (start of inflation 7%)
5: 7.02
6: 7.51
7: 8.04
8: 8.60
9: 9.20
10: 9.85

Hi @SatoshiNakamoto 🙂 I think your design of limited supply is suitable for digital gold use case. But people hodl bitcoins. We need another coin like Bitflate that has inflation. People will use it for transactions.

Edited October 25, 2019 by dnprock

[hexwin 4931]

29 minutes ago, dnprock said:

@hexwin, I don't know how many nodes we have on the network. I think it reached more than a hundred nodes already. There's a list of nodes on the network in the explorer page:

https://explorer.bitflate.org/network

We hit some bumps with Unnamed Exchange. The owner is a bit unfriendly. But he is responsive and the exchange works. I buy my BFL coins there and withdraw to my local wallet. It's working for Bitflate community now. I'm not actively looking for more exchanges. They all ask money for listing. Bitflate is a decentralized coin. We don't have a central authority to pay for listing fees. I previously asked for listing fee donation.

Btw, I just checked out your website. It looks like we may be able to work together. Bitflate is still early. But once we gain momentum, I think interest saving BFL account would be awesome.

Thank you for answering in details.
Maybe you should consider some decentralized exchanges for listing, I think there is one XBTS here that is based on bitshares, and they have some voting for listing.

PS
I don't see why not.
Be ready for HEX launch in November and claim 20% bonus for free  👇

[dhemasm 219]

It looks interesting, with the inflation scheme will provide liquidity, just need to develop a community, anyway maybe the homepage on your website can be slightly tidied up by separating the posts into different sections and storing detailed information on the homepage. Looking forward for next update!

[dnprock 10]

On 10/27/2019 at 6:57 AM, Xuannghi6150 said:

Bitcoin is a solution to inflation

When I was a child, for a long time, there was a book in my house that we kept procrastinating. It is a dictionary published in London from the 20-30s.

In the book there are many parts about weight, size, which tells us about perch units, jeroboam as well as the correct letters and addresses if we want to send to the Cardinal or the ambassador. It also refers to the currency exchange rate. One pound is worth about four US dollars. Not anticipating this exchange rate change is a big problem as well as unforeseen inflation.

> Bitcoin is a solution to inflation

It is a catchy narrative. I think that is how Bitcoin caught fire. Limited supply is Bitcoin's strength. But I think it is also Bitcoin's weakness. It creates price volatility and makes bitcoins unusable for transactions.

I create Bitflate as an alternative inflationary currency. Supply inflates at a constant rate. No external factors can change it. Everyone knows the rule. That is the difference.

[hexwin 4931]

18 hours ago, dnprock said:

> Bitcoin is a solution to inflation

It is a catchy narrative. I think that is how Bitcoin caught fire. Limited supply is Bitcoin's strength. But I think it is also Bitcoin's weakness. It creates price volatility and makes bitcoins unusable for transactions.

I create Bitflate as an alternative inflationary currency. Supply inflates at a constant rate. No external factors can change it. Everyone knows the rule. That is the difference.

Why do you think that inflation in Bitflate coin would make it to have less price swings and less volatility?

I don't think that limited supply has anything to do with 'unusable transactions'

As you have small network, anyone from outside can attack you with 51% and that is external factor isn't it?

[dnprock 10]

5 hours ago, hexwin said:

Why do you think that inflation in Bitflate coin would make it to have less price swings and less volatility?

I don't think that limited supply has anything to do with 'unusable transactions'

As you have small network, anyone from outside can attack you with 51% and that is external factor isn't it?

Limited and shrinking new supply creates rush of buying and selling. On supply side, people hold. On demand side, people rush to buy. Big and sudden price swing make Bitcoin unusable for transactions.

I think inflation would produce the opposite effect of HODL. At some point, holders will think about using BFL coins because next year, there're be 7% more of BFL coins on market. On demand side, companies don't rush into buying BFL coins. Next year, there will be more coins available on the market. I think inflation can smooth out price swing.

Bitflate network is still small. It can be under attack. I think that is a problem with any new coin. It's unrelated to the problem Bitflate is trying to address. I hope the network will grow over time. Still, Bitflate is experimental.

[hexwin 4931]

7 minutes ago, dnprock said:

Limited and shrinking new supply creates rush of buying and selling. On supply side, people hold. On demand side, people rush to buy. Big and sudden price swing make Bitcoin unusable for transactions.

We can see big and sudden price swings even in fiat monetary system ,and in many countries like Venezuela, Argentina, Zimbabwe and many other countres in history.
I don't see inflation is bringing anything good to people ... no mater how controlled it is 

Edited October 29, 2019 by hexwin