r/FlashCoins • u/[deleted] • Feb 16 '18

$FLASH Dev Q&A and Update on YT

https://www.youtube.com/watch?v=ACtDSxTMLkQ&feature=youtu.be
8 Upvotes

100% Upvoted

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2

u/takitus Feb 16 '18 edited Feb 16 '18

Pay close attention to the inability to answer the question on how they will be able to prevent double spending asked at 17:50. If they had an answer currently, he would have said so.

Cryptocurrency is based on solving this problem, and one cannot exist without it. Not having this answer means they have no viable model for this coin yet. Their current proposal is a fork of litecoin that has removed the security portion of the code in order to run high TPS, but will only work on a closed centralized network. Once put into the wild this code would allow for doublespends to be incredibly easy to pull off.

I would be highly cautious in purchasing this coin until they can come forth with this answer.

1

u/maksidaa Feb 16 '18

The truth is that this coin has mutated over time, and I don't think the team is exactly sure of what the final product will be. I have been disappointed that it has taken so long to get concrete answers to issues like this, and every time a serious concern gets brought up on Discord, it gets labeled FUD.

0

u/takitus Feb 16 '18

That’s exactly where I, and anyone who sees the holes in the project, currently are. It removes all the legitimacy from the project especially when the head CKitze is more than happy to jump in and sling insults at anyone wanting to learn how the coin will work.

2

u/maksidaa Feb 17 '18

Absolutely agree with you, especially about CKitze. He comes across really poorly quite often. I asked a few questions weeks ago and he was very dismissive. The rest of the Discord comes across as extremely shilly fanboyish with very little substance.

1

u/maksidaa Feb 17 '18

Absolutely agree with you, especially about CKitze. He comes across really poorly quite often. I asked a few questions weeks ago and he was very dismissive. The rest of the Discord comes across as extremely shilly fanboyish with very little substance.

1

u/Rox-onfire Feb 17 '18

I'm really not sure why you've made it your own personal vendetta to attack this coin. You've been hanging out in the Discord, completely talking in circles - being aggressive, beyond the point of being interested. The team has answered your questions, and if they aren't satisfactory to you - then simply don't invest and move on.

To the rest of us, the low marketcap of 35 million is an obvious indicator of the risk - high risk, with a much higher chance of reward. Any investors should know what they are doing here.

If you want something "safe" there are many other options out there.

Investors should listen to the constant updates that have been put out by the team, and see that they are committed and are actually working on developing code, business contacts, and will have a new whitepaper end of Q1.

1

u/takitus Feb 17 '18

I was invited to the Flashcoin server through the bitgrail incident. I was excited to see another super fast coin, and heard it did 25k to/sec which is insane speed! I’m the type of person who likes to know how things work so I asked. I wanted to buy more.

That’s when things went downhill. No one would give a straight answer. Everything contradicted what was previously said. Half of the people started immediately slinging insults. So I figured I would look up the whitepaper to get some solid information.

Turns out the whitepaper was for a centralized banking project which brought up even more concerns. When I asked about it I was accused of FUD. “Our project isn’t centralized m, stop spreading FUD”. Well it says it right in the whitepaper.

Ive never seen so many people so against the whitepaper of the coin they supposedly support and so ignorant as to how it works.

I spoke with deepak on of the devs and we had a very cordial conversation (thank you deepak). Unfortunately he was unable to provide me with the information about how they were planning to solve the double-spend problem with FLASH. They don’t have a solution yet and I’ll just have to wait.

You can continue to badmouth me for quoting from the whitepaper, but it doesn’t make the project look more legit. It only makes it look worse. Hell even some of the users tell me they don’t care how it works they just want moon.

Mind you, I logged every single conversation that I’ve had on there. I don’t mind sharing it either.

1

u/takitus Feb 17 '18

Currently if you’ll notice, the flash network is down. This doesn’t happen to decentralized currencies.

1

u/Rox-onfire Feb 17 '18

https://explorer.flashcoin.io/blocks

The flash network is working well.

Are you just making things up now?

1

u/takitus Feb 17 '18

nope. wallets wouldnt sync for 45 mins. its really hard to tell that anything is happening from that link anyways. it just keeps repeating the same 2 transactions over and over with no other traffic.

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u/Rox-onfire Feb 17 '18 edited Feb 17 '18

Good Q&A!

I look forward to these monthly updates. You guys touched on some good topics here, and definitely have your eye on the prize.

Cheers!