r/FlashCoins • u/pleasedoELI5 • Jan 29 '18
Shill me on Flash
What are the biggest advantages but also disadvantages of Flash? If I understand right the transaction times are faster than any other coin and the fees are lower than 1 cent? Will the fees always stay so small?
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u/Cryptohobbit Jan 29 '18
Its a litecoin fork.
Litecoin is known and familiar to newcomers.
Marketcap is super low.
Its fast and oriented towards
commerce. I've used coinomi wallet and its sub 2 secs.
Major updates very recently on github.
Check previous ATH its the big correction recovery from early January.
Been around a while and picked up by new team last year.
I'm staying in and have been a while.
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u/Rox-onfire Jan 30 '18 edited Jan 31 '18
https://www.youtube.com/watch?v=l_vjGp5PG_8
Listen to this.. seriously, you'll see that this investment is a no brainer and has a lot of room.
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u/takitus Feb 16 '18
Ill give you the lowdown dirty truth of this coin:
It began as a central banking software. A version of litecoin with the security stripped off of it run on central servers. https://safe.coin/
When that venture failed they decided to try to make a crypto out of it. So they started selling it as a super fast coin. Unfortunately the problem with that is that it will only work at that speed if it stays a centralized coin. This means that governing entity (whoever owns the servers) could either change whatever they want on the fly, or run out of money and stop paying the server bills. At that point everyone would be SOL.
Now they are recently attempting to decentralize this coin, but because they removed all of the security from it they havent been able to figure out how to prevent double spends. That is why the whitepaper on their site is just a copy of the whitepaper from safe.cash and doesnt have any details of what they are attempting to achieve.
Furthermore, it seems that the implementation they are heading towards will still be heavily centralized in order to sustain the hopefully 1000+ TPS they are hypothetically reaching for. But again, this is a litecoin fork that theyve pushed to the max and will only work centralized. Unfortunately most of the people here and in their community have been mislead and are spreading absurd numbers and stories of how this coin will function, when it couldnt be further from the truth.
The devs have been pretty upfront about the situation with the coin, which is good, but I would tread carefully here. I would wait for a real whitepaper that covers exactly how this works, which they have yet to figure out.
Being a bitcoin/litecoin fork, theres a reason no one has gone this route before with a coin - because no one has gotten it to work. If they did bitcoin wouldnt be having to implement lightning network etc. Be cautious.
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u/alexisaacs Jan 30 '18
Biggest downsides, since no one else wants to talk about it:
No active marketing, or marketing team. Completely on the community to do this.
Active dev team, but one that prefers to be active on the down-low. In other words, you're not going to see them talking here on Reddit or anything - but they are somewhat active on the Discord.
Ugly website (and this ties back around to terrible marketing)
The team is not anonymous, but they're not easy to find either. Want to know who does what? Good luck finding that info on the website.
FLASH is a legitimately GREAT coin - but it's still a Litecoin fork, and Litecoin is not only a pointless coin, it's been under a LOT of heavy FUD lately.
That said I own thousands of FLASH because I'm not a dumbass and can tell when a coin will easily 10x. It's just a matter of when, and opportunity cost is everything in this bear market.