The split happens has follow: when you block stakes the amount you earn is added to the coins in your block and then the total is split in 2. To make it easier, suppose you have a 1000 TEK block that hit the max reward of 40% (=400 TEK). The math is (1000+400)/2 = 2 new blocks of 700 TEK.
Thank you So I'll get the 400 reward in 2 blocks Your single block of 1000 will turn into 2 blocks of 700, rather than your original block of 1000 with 2 blocks of 200 each, if that's what you mean... What a lot of people seem to do is then send those two blocks to themselves in a single transaction. So, as your original block of 1000 TEK has become 2 blocks of 700 TEK, you would send them back to yourself. The wallet will automatically combine them into a single block of 1400 TEK. Doing that keeps the overall PoS difficulty down which in turn helps to keep the interest as close as possible to 40% per month... |
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Strange... TEK has crashed 25% or so in the last couple of days, and looking at the depth charts, it's seriously weighted on the Buy side... I can't think of any particular reason it should have dropped to that extent... At the moment, with a market cap of over $300,000, I'm also curious as to why you can buy all the available coins on Cryptsy for less than 0.8 BTC!!!
If you own TEK, is this a good thing - I'm trying to see the positive side of it, thinking that not many people are wanting to sell their coins, which will only serve to push the price up... Won't it?
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Hello people of tek!
1). what happens after 60 days age?
2). how exactly the weight is affecting payout?
thank you! peace
1. After 60 days, your coins will continue to gain weight... After 90 days, they stop, so everything else being equal (such as PoS difficulty), you won't get any larger stake by waiting any longer 2. The weight affects how quickly your coins will stake. The larger the amount per block (i.e. the more weight it has), the sooner it will stake, so it makes sense to combine smaller blocks by sending them to yourself in a single larger block. (If everyone combines their TEK into larger blocks, it will also have the added benefit of reducing the PoS difficulty, which will increase the overall interest rate...) So does it make the stake larger? or it only speeds up the payout when wallet is open? thank you Increasing the value of the block will make it stake quicker - single-handedly it won't increase the interest percentage. That is affected by the number of wallets staking at the same time - more wallets staking means an increase in PoS difficulty and therefore a decrease in interest rate. (It's how TEK handles the inflation caused by more coins becoming available) |
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Hello people of tek!
1). what happens after 60 days age?
2). how exactly the weight is affecting payout?
thank you! peace
1. After 60 days, your coins will continue to gain weight... After 90 days, they stop, so everything else being equal (such as PoS difficulty), you won't get any larger stake by waiting any longer 2. The weight affects how quickly your coins will stake. The larger the amount per block (i.e. the more weight it has), the sooner it will stake, so it makes sense to combine smaller blocks by sending them to yourself in a single larger block. (If everyone combines their TEK into larger blocks, it will also have the added benefit of reducing the PoS difficulty, which will increase the overall interest rate...) |
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Does anyone REALLY think he made anywhere near the amount he claims to have done?
Take this week here...
Week Beginning: 06/08
Week Ending: 06/14
Coins: CRAVE, NAV, HYPER, XAI, URO, SPR, NIRO, BAY, AM
Return: 459%
459%??? REALLY??? Bullshit... That would only be if he bought coin 1 at its lowest, sold it at its peak, which nicely coincided with Coin 2's low point, etc... A bit like an accumulator bet at horse races. Fact is, in that week, ONE coin flashed briefly above 50%, and even then it wasn't with enough volume to be important. Not one of the coins did.
Confession time - I signed up for this week, and to claim that anyone made a 459% ROI is pure fantasy...
Another coin that he recommended was ARCH, and his recommended buying point was about 25k Satoshi... Shortly after that, the price plummeted to about 5k... It's not much higher at the moment, either...
I don't even think he was manipulating the markets as much as anyone thought. Just duping relative newbies (like myself) out of 0.5BTC. I only did it the once, learned a little about crypto currencies and perhaps learned a little bit more besides...
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So what does anyone gain by having lots of teeny tiny blocks to stake? Besides keeping the couple of minutes it would take to combine them in order to spend those two minutes doing something far more valuable than aiming for 40% interest per month.
How long can blocks continue to gain weight before there is no more chance of higher stake?
I can only assume it's technically daunting for some to learn and use coin control. It's just easier to let them stake. I hope in the future we can build a wallet that's more user friendly. According to the code, blocks will gain weight for up to 90 days. From there, the block keeps competing for stake with that weight. That's not to say your stake reward won't keep accumulating. Maybe someone else can verify this. You don't even need to use coin control to consolidate blocks... Just send however-many coins to yourself and they're put into a new block anyway... There's nothing easier to do! The stake doesn't keep accumulating post 90 days. I thought I was on the correct version of the Mac wallet after the fork last year, when I wasn't. So I was happily staking with my incorrect wallet, right up until March or something. I lost about 20,000 coins because the coins on the new (post-fork) blockchain had last staked more than 90 days previously... |
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Sorry to hear that. You were likely on another fork for a bit there. It was a turbulent time. You may want to try rescan command if you haven't already.
Thanks Dick! Yes, I'll try that. And you might be right - I might have been on another fork - that's what I was thinking. But in that case, I would say that there are other people on the same fork, if my transactions were being confirmed... Hence the last line in my message about checking the block chain... It's the only way I could find out which backup to restore... |
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Had a bit of a problem with the wallet (the latest version, as well as the version before it)... THANKFULLY I'd backup up my old wallet at the start of November last year...
Seems that I've been able to stake successfully for the last few months, to the point where I felt I had enough to start moving some into Cryptsy, which I tried to do last night. The coins never turned up, despite being successfully confirmed. The same story with ALL my post-November stake, which I religiously updated every 30 days. So we're talking December, January, February and yesterday. There was NO indication that anything was wrong - until I tried to move some TEK into my Cryptsy account. Bear in mind as well that to consolidate my coins, I would use the coin control to pay them to another address that I have registered in the same wallet on a monthly basis.
Turns out that NONE of the post-November transactions which appeared in my wallet appeared in the block list, DESPITE all the confirmations.
Apparently, and completely unknown to me, none of these transactions were visible in the online block chain - so the online block chain was telling one story, and my wallet was telling another.
I've had to restore my wallet.dat file from AUGUST and re-sychronise everything, and where I'd started out with 15.6k TEK and thought I had almost 60k last night, it now turns out I only have 40k. I've lost 20k TEK because of this. If the original stake hadn't gone through, or the wallet had told me that the confirmations weren't valid, I could have resolved the issue sooner, but it didn't. So while the maximum stake is 90 days, I've probably lost almost 40 days' worth. So I'm NOT too happy about that.
There's probably nothing I can do about it now, which is irritating, so for every one else's benefit, MAKE SURE YOU DOUBLE CHECK THE BLOCK CHAIN!!!
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I am down to help test, and be more involved. Some of us have a lot riding on this coin. (We believe in it and want it to succeed!!!)
Ditto here! I'm willing to help with the testing effort... |
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Concerning stake reward, TEK has built in stake reward reduction when PoS diff climbs. It is most likely that PoS shot way up due to the high amount of coin weight hashing on the network. I am not synced up, so I can't tell you what the current diff is, but I know that typically TEK PoS diff has been always kissed its lower bound of 0.03 - anyone have the current diff?
Right now, according to my wallet, it's .001265, but earlier on it was .0002, I believe... |
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i thought 40% was the max, which means as more stake it goes down? Dev can confirm, but lot of people staking would increase the diff? Lowering rewards? That is incorrect. It should be more stake for a longer time. I haven't calculated mine, but by eyeball it looks about right. Can't recall who asked for it due to sudden brain fart, but my address is: BmmkHdBj3V9CuGqGPMfwXAB8NRWYiMjmCB Too my knowledge, nothing has been changed in the staking formula, just in how it calculates difficulty. Defaced will know better on that than I. But that is my understanding of what changed. However, as screwy as things got, it may have dropped some weight somewhere. That's a guess, so don't quote me on it as any sort of fact  Check my posts out, Biomech. And those of one or two others - it appears that the stake amount is around the 30% mark, according to the figures... |
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Per block? Remember the block splits into 2 individual blocks of relatively identical amounts.... Using the built in block explorer in the new GUI, I've tried to calculate my PoS rewards. I seem to only be getting 28% to 33% reward, not the 40%+ we were getting before PoS broke. Has the PoS reward calculation been changed?
I am factoring both outputs. For example, my first PoS ontoday's working chain: Tx 06771fc6bd232d14b55cb54e8f38fd0ac2a88af114d50a328dbca952252c2bde Input: 340.167416 Output: 227.246 and 227.246 2*227.246/340.167416= 1.33608 or 33.61% reward That original 340.167416 is from July 23rd: Tx 0366f98edb37c7bb77bcc4603a50818bc15d0c9a1ff6a036a46922ca86790a04 I think I'm getting a similar thing, using the Windows wallet... One transaction from the 10th July, 291 TEK, PoS mined amount from today, 19 days after it should have staked at 40%, I'm getting an amount of 422 TEK - Only 45% stake, when if the dates are calculated correctly, it should have been considerably more... In fact, if I take the value of all my 'mature' TEK pre-fork and apply 40% to it, that gives me a figure which is a couple of hundred TEK MORE than the actual staking value that the wallet has produced. Bearing in mind that some of the coins are about 50 days old, I would have expected the overall stake payout to be considerably more... Another example... on the 18th July, I combined 388.437 TEK, so on the 17th August, it SHOULD have staked, giving me 2 blocks, each of 271.9 TEK. That same block has now staked with the new wallet, 10 days AFTER it should have staked, giving me 2 SMALLER blocks, each of value 267.3 TEK. So something would appear to be not right still... Similar scenario on the 27th July - combined block of 461TEK, which again has just staked. The amount that came through was 2 blocks of 299TEK. As this is only just over the 30 day maturity period, it's safe to assume that the stake ought to be close to the 40% figure, but not less. In actual fact, it's more like 30%. (A 40% figure would have given me 2 blocks of 323TEK...) Guys, if you need a hand testing this, give me a shout. I'll be glad to help if I can i thought 40% was the max, which means as more stake it goes down? Dev can confirm, but lot of people staking would increase the diff? Lowering rewards? I was under the impression that the older the coins, the higher the interest, so that 40% was the minimum, and if you couldn't stake for whatever reason for the next few days, the interest amount would increase on a pro-rata basis. That's how it worked beforehand, I believe... I've had stake come through at greater than 40%, and that's only a few hours after block maturity |
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Per block? Remember the block splits into 2 individual blocks of relatively identical amounts.... Using the built in block explorer in the new GUI, I've tried to calculate my PoS rewards. I seem to only be getting 28% to 33% reward, not the 40%+ we were getting before PoS broke. Has the PoS reward calculation been changed?
I am factoring both outputs. For example, my first PoS ontoday's working chain: Tx 06771fc6bd232d14b55cb54e8f38fd0ac2a88af114d50a328dbca952252c2bde Input: 340.167416 Output: 227.246 and 227.246 2*227.246/340.167416= 1.33608 or 33.61% reward That original 340.167416 is from July 23rd: Tx 0366f98edb37c7bb77bcc4603a50818bc15d0c9a1ff6a036a46922ca86790a04 I think I'm getting a similar thing, using the Windows wallet... One transaction from the 10th July, 291 TEK, PoS mined amount from today, 19 days after it should have staked at 40%, I'm getting an amount of 422 TEK - Only 45% stake, when if the dates are calculated correctly, it should have been considerably more... In fact, if I take the value of all my 'mature' TEK pre-fork and apply 40% to it, that gives me a figure which is a couple of hundred TEK MORE than the actual staking value that the wallet has produced. Bearing in mind that some of the coins are about 50 days old, I would have expected the overall stake payout to be considerably more... Another example... on the 18th July, I combined 388.437 TEK, so on the 17th August, it SHOULD have staked, giving me 2 blocks, each of 271.9 TEK. That same block has now staked with the new wallet, 10 days AFTER it should have staked, giving me 2 SMALLER blocks, each of value 267.3 TEK. So something would appear to be not right still... Similar scenario on the 27th July - combined block of 461TEK, which again has just staked. The amount that came through was 2 blocks of 299TEK. As this is only just over the 30 day maturity period, it's safe to assume that the stake ought to be close to the 40% figure, but not less. In actual fact, it's more like 30%. (A 40% figure would have given me 2 blocks of 323TEK...) Guys, if you need a hand testing this, give me a shout. I'll be glad to help if I can |
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Per block? Remember the block splits into 2 individual blocks of relatively identical amounts.... Using the built in block explorer in the new GUI, I've tried to calculate my PoS rewards. I seem to only be getting 28% to 33% reward, not the 40%+ we were getting before PoS broke. Has the PoS reward calculation been changed?
I am factoring both outputs. For example, my first PoS ontoday's working chain: Tx 06771fc6bd232d14b55cb54e8f38fd0ac2a88af114d50a328dbca952252c2bde Input: 340.167416 Output: 227.246 and 227.246 2*227.246/340.167416= 1.33608 or 33.61% reward That original 340.167416 is from July 23rd: Tx 0366f98edb37c7bb77bcc4603a50818bc15d0c9a1ff6a036a46922ca86790a04 I think I'm getting a similar thing, using the Windows wallet... One transaction from the 10th July, 291 TEK, PoS mined amount from today, 19 days after it should have staked at 40%, I'm getting an amount of 422 TEK - Only 45% stake, when if the dates are calculated correctly, it should have been considerably more... In fact, if I take the value of all my 'mature' TEK pre-fork and apply 40% to it, that gives me a figure which is a couple of hundred TEK MORE than the actual staking value that the wallet has produced. Bearing in mind that some of the coins are about 50 days old, I would have expected the overall stake payout to be considerably more... |
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@defaced So what exactly does everyone need to do to get up and working again. Is there a new working wallet? Or do we reload the blockchain or both.
the change that fixes the sync issue has been pushed to the official tek repo. so recompile. A new blockchain zip is being uploaded now. Will there be a new Mac version? Or is that something we'd have to compile ourselves, and if so - are there intructions anywhere? And no disrespect intended, but is this going to be an official release? |
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There WILL be a mac wallet, I assume? Shame about the screw up last night - the mac wallet was working well!
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I am getting a lot of "This block was not recieved by any other nodes and will probably not be accepted." Is anybody else getting these?
Not getting any of that... I have one more block to stake and then just the confirmations to come through. At the moment, the debug window is saying that the current number of blocks is 506521, and has been that for a few minutes now... |
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WELL DONE TO THE DEV TEAM!
Stakes coming in thick and fast now!
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While things are being recoded, maybe we should consider a total coins amount of 100 million or 1 billion.
Jason
From earlier posts, I gather that the 100m cap is the number of coins in ONE transaction. But maybe prior to the official release, maybe the dev team could confirm this again, now that they're hands deep in the code? |
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Damn! What happened last night? Lowest trade of 0.00002??? Where's Thundertoe? Maybe some presence from the dev team might help? Maybe he can explain what's gone on here...?
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