Where does this leave us?
First off@everyone I have not run away. Its not exactly that simple when you own a company not like other Dev's some of you may have been scammed by in the past. We have a responsibility to make the best of the business. To all of you that invested in CFL I'm sorry this is not the news you where hoping for however CryptoFlow itself will keep going just down different avenues, in particular firstly we are going to switch the focus onto the CryptoFlow Vault System as we believe this could be something worthwhile (possibly even better than the platform). Once that is set up we will then focus on more newer products to enhance users crypto experience as that was and will always remain the main aim of CryptoFlow.
I have also made huge changes to the setup of One World and given some huge responsibility to people there along with big leadership changes at the top level there which meant me stepping back a little to let the guys get on with things there. There is no doubt in my mind that the problems with OWO are in the past and what the team has been vigorously working on lately will come to fruition and it will be the best APP out there of its kind and a true APP of its kind I might add not just another staking/shared service on mobile pretending to be something else.
Stepping back slightly from OWO allows me to get more fully focused on CFL again and to bring it back to highs it should be. I appreciate the support you have all given us so far and I do intend to be much more active and discuss things with people going forward now that its all out in the open.
So i know@everyone is going to say but that was always the way and agreed it was, but the plan to counter that was selling CFL eventually and profiting from that to counter those fees. However nobody was wanting to bother with buying CFL for Fiat, so we thought introducing the other MN coins could help but in all honesty the facts are, out of all the MN coins we have on the system only a handful of people actually bought any, out of all the other altcoins we have not one person bought anything other than BTC. It is clear as day that people will only buy and trade BTC and at that unless we started to charge 10% for BTC transfers which would make us no better than any of the others its just pointless.
Coinbase and Binance have also now introduced Fiat options themselves which now makes the up hill struggle a mountain.
We ran The Auction House at a loss hoping to be able to sell any CFL made from it in the future but then the exploit made sure we would remain at a loss there.
I know most of you will say but there was no marketing apart from at the start but as things went on it funding from the platform was not coming in as we were expecting and our overheads for the verification process, staffing the platform and updates continued to go up there just simply wasn't any funding there for it.
I know you would all love my to say everything is fine and to keep running the platform but its not, it is a business that is running at a loss haemorrhaging money weekly and just can't simply keep going.
@everyone my silence on discord lately has been for the reason below which I am bringing to you all now. Myself and the other director of CFL sat down to look at things and bottom line is the CFL platform is not viable to keep running. We have had a number of issues with the verification process including fees they charge if we don't reach certain numbers each month and nobody wanted to be verified. That combined with the main issue of dealing in low amounts from £100 - £150 which has been 99% of the transactions has been in BTC, since it has gone up BTC costs anywhere from £1.50 - £3.00 to transfer depending on what exchange we need to do it from. So it doesn't take a mathematician to work out that at 2% fees we make a loss on all these transactions.
I am currently working on a new server called the Directors Lounge. Anyone in business knows you can never have enough contacts regardless of what industry they are in as some day they may always come in handy. This will be an extension of the CFL Eco-system.
I will release more information on this and the server itself shortly but the idea is while we are all here because of Crypto a lot of us developers, investors and community members alike have other businesses or other streams of work or revenue outside of Crypto and the idea is to start to capitalise on this and bring more people together.
More will be disclosed soon but the aim is to not just single this out solely to CFL but to open it up to be an open source area of contact that will have opportunities creating more purchasing of CFL and other coins based on levels of marketing and promoting of expertise and products outside of Crypto!
@everyone Firstly: with the up coming Pre-Sale of FunTime Coin https://discord.gg/AAhEEBe I want to tell you the workings and innovation of CryptoFlow Vaults. This will be the general protocol for all other coins also.
1. Pre-Sale will take place on SPP as a first for them also.
2. Once Pre-Sale is over any remaining Premine will be distributed to four wallets.
3. At this point we want to keep somethings confidential but from here coins can only be transferred from these wallets from two passwords been used. One held by CFL and the other with FunTime Dev.
4. CFL will be given a channel on FunTime Coins server. Once the time comes for some premine to be released a public request by the Dev will be made on the channel for all to see so that it corresponds with the time it should be released according to their RoadMap.
5. Due to Financial Law we have it perfectly setup that CFL will not have access to the premine solely and can only be released using both passwords.
6. FunTime have choosen to go for the Silver package due to the nature of their coin and as such payment is €300 for the service. I have requested that instead of giving into the sellers that they place a buy wall instead a few days into their Pre-Sale. At the current rate this will be a 1,000,000+ CFL wall.
7. Once the coins are handed over they will then be burnt!
We wish them all the best and thank them for choosing CFL Vaults
Midas announces zero fee platform
@everyone there is some very exciting news from our Official Shared Masternode Service - Midas.Investments!
Midas have become the only investment platform to offer a zero fee, 0% investment opportunity across all coins listed to their platform forever.
🔘 No fees taken in CFL or MIDAS.
🔘 No fees to invest in the CFL Instant Share node.
🔘 No fees to host your node on the Midas platform.
Earn 100% of rewards for CFL and all other coins listed to Midas - even without VPS costs!
For more information: Join the Midas Discord and check out their <#472466810495696906> channel, or read the article published on MN.Investments - https://mn.investments/midas-launch-zero-fee-platform
Midas Discord - https://discord.gg/e6stHWe
It is with a heavy heart that I share this with@everyone. Unfortunately, due to personal constraints, I need to take on a lesser role in OWO and CFL projects and will be serving only as a technical advisor. Although I need to refocus my attention and energies on my health, I remain fully committed to both projects and will be in constant contact with the team. While I won't be as present on Discord (as I'm sure most have been keenly aware as of late), I will pop in when possible to catch up with our wonderful community.
I'd like to take this opportunity to personally thank @429903437916930068>, who has filled in during my absence. He has been instrumental these past few months, either behind the scenes pushing the team and moving the projects forward, or keeping the community informed and spirits up...Thanks buddy.
As all notice, we already cross block 330k some time ago and we are now getting the new rewards posted above
Today we turn on the protocol enforcement, so from now, old nodes on protocol 70888 become missing and the only protocol allow in the network it's the 71000 with the recent wallet launch some days ago version 18.104.22.168 MAIN with a revision version for 22.214.171.124.
This does not effect the running of the platform and I want to stress it is still useable by@everyone, those already verified can continue to take advantage of higher limits, for the remainder, we will be looking into alternative forms of identification. Until then unverified people who to be honest is the vast majority of the customers can still use it as they where to the lower limits set out.
To combat the exploit but also to address the issue of inflation of the coin we have released the latest update to put an end to any currently known exploits. This update will also include a re-structure of the rewards to approximately 40% of what they where planned to be. We will not change the collateral as we know this would be a great pain for everyone and we feel the reward change will be enough. This will take place at block 330,000. Below is also the rewards chart revised. Regarding the large amount of coins dumped recently everyone can track from the websites related to the exchange and see who did that. We are not going to talk much about that since our main focus it's the Cryptoflow Platform
We fully intend on pushing forward with CryptoFlow and while there is a lot of focus on the platform this was never intended to be the only part of the business. It will remain active and we will continue building around it with more and more products. Over the next coming weeks we will be expanding on the CryptoFlow Vaults with more details on the workings of it as well as collaborating with some of the Shared Services who offer Pre-Sale through their platforms, in addition we will combine One World in all this as well and provide a one stop shop for people can go to with faith they are getting trusted services.
@everyone So over the last few weeks we have been monitoring a couple of addresses and unfortunately it appears that while we thought CFL's chain was running smoothly with no issues for a long time now it appears we were the target of an exploit. The hackers did get coins although we are not sure how many, it could possibly have been going on as far back as the beginning of the year.
That combined with some huge dumpers yesterday cashing out for BTC has put us in the unfortunate position we are in now. As per normal we will not be disclosing the source of the exploit as we are very aware hackers love getting this free information so they can use it on other coins.
In addition to that we have been having huge issues with IDnow who do the video ident for us. Out of all the hundreds of users we have on the platform only a handful have successfully completed the verification process and as such limiting the use of the platform for many. We have continuously been back and forward with IDnow who I have to say have been less than helpful. They are trying to dismiss any blame on there end but we are not accepting that. As such we will more than likely terminate their contract with us over this.
@everyone In light of the serious dumping by one individual tonight
we are going to postpone the ANN updating everyone on things until tomorrow while we investigate it further.
@everyone Tomorrow evening we will give a full update on CFL and issues we have been dealing with over the past few weeks. Please note though while I apologise for not been more communicative lately we have been working continuously in the back ground dealing with things and we will continue to be here doing that and doing our best for this project. We have not by any means left or stopped for a second!
remember to update your wallet regarding the instructions above.
Old wallet and old protocol will not work more after block 330k.
It's a MANDATORY UPDATE
Exchanges already in new wallet and protocol, after block 330k they only recognise transfers from new wallet update. Few blocks left. Remember to update
Option one - You can use our Update Scrip that automatically will clean the CFL wallet and the block. After that will install the new wallet add the bootstrap for faster sync.
While this is the most confortable way to update it ( since will maintain genkey ) . You then will need to wait an average time of 2 hours for old wallet node on the network become missing, for then you start alias it again
On you VPS proced with this commands ( after each line press enter )
After those commands on top you can follow your node catching the blocks using the commanda
Once Masternode VPS on same block just wait some time and then do
start alias on your QT wallet, after that come back to VPS wallet and confirm it with the command
cryptoflow-cli masternode status. If status 4 , all ok. if not please wait like 1 hour or more to do it again.
Option two - Install the node on a fresh VPS with a normal procedure using the instructions you can find here
New updated wallets are ready to download at Cryptoflow GitHub.
The Rewards going to change on block 330000
New wallet version - v126.96.36.199. The one that will be working correctly and connected to exchanges
New Masternode Protocol - 7100. The only one that will be valid
Old protocol will become invalid . We will give you guys time to proced with the update, when the majority of the nodes on the new protocol we will shutdown the older one.
How to Install update
@everyone CB deposits and withdrawals are temporarily disabled due to the wallet update. We will put full details up in the next few moments.
@everyone As previously mentioned we have our first customer of the CFL Vaults. Once their Pre-Sale starts fees will be paid. The terms of their Pre-sale BTC and Pre-mine lock down will be uploaded once fully finalised with the developer.
FunTime Coin is a community syndicate coin based around the EuroMillions Jackpot where your MN becomes your Golden Ticket every week you hold it. Original idea and looks very interesting and hopefully the addition of using the CFL Vault system will also put their investors at ease and let others see the benefit of it.
@everyone We have been listening to you all and as such we have made the decision to cut the reward structure to combat the coin inflation. As of Block 320,000 the current structure from there on will be reduced by approx 60%. This will dramatically reduce the ROI currently to about 100%. There will be a wallet update needed to carry this out as well as some essential updates to the chain.
In addition to the above we have now officially opened the CFL Escrow Vaults of which we have attached more information on this below. The fee's for this service are to be paid in CFL and these coins will be burnt in order to help the current market further. We are also glad to announce that we also have our first customer of the Vault program already who will be announced later in the week when they are ready.