Sorry for my ignorance, but I don't understand.
I set my transaction fee to 1 TEK because I wanted to support the miners and with TEK, 1 coin is next to nothing. Does this just get destroyed?
Why not keep transaction fees for the miners with TEK? As more people stake the difficulty goes up and wouldn't that cap the supply?
I know this is the wrong thread for this, but since we are talking about it already. I know the DMD developers plan on only having 4.32 million coins or something like that. If I remember correctly from that thread they said they wouldn't be destroying any coins.
I think I am misunderstanding something fundamental here. Why destroy them at all, and instead just say there is going to be 1 billion TEK or 4.32 million DMD?
I am not entirely certain that network fees are destroyed in TEK. In general, what Mullick said is true, though. The point is an inflation control mechanism. Every transaction reduces the available supply by X amount, which offsets production to some degree. Thundertoe, are fees destroyed? Yep they are https://github.com/maxxine/TEK/blob/51049fcc6ffd01644f837b4778b3836c8b26ac06/src/main.cpp#L1612-L1615Thanks, Mullick. There's at least one POS coin I've messed with that don't destroy the fees. I just don't remember which one  |
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Sorry for my ignorance, but I don't understand.
I set my transaction fee to 1 TEK because I wanted to support the miners and with TEK, 1 coin is next to nothing. Does this just get destroyed?
Why not keep transaction fees for the miners with TEK? As more people stake the difficulty goes up and wouldn't that cap the supply?
I know this is the wrong thread for this, but since we are talking about it already. I know the DMD developers plan on only having 4.32 million coins or something like that. If I remember correctly from that thread they said they wouldn't be destroying any coins.
I think I am misunderstanding something fundamental here. Why destroy them at all, and instead just say there is going to be 1 billion TEK or 4.32 million DMD?
I am not entirely certain that network fees are destroyed in TEK. In general, what Mullick said is true, though. The point is an inflation control mechanism. Every transaction reduces the available supply by X amount, which offsets production to some degree. Thundertoe, are fees destroyed? |
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Hey BIO, I use KNCminer Titans too and would love to mine GMC on your pool. Email me when its Titan ready.
Vegas
Obviously I'm not "BIO", but .. https://pool.bejjan.net/pool/GMC my pool supports big rigs such as titans. Tested with well over 7GH. /Bejjan I appreciate the offer, but I want to specifically support the official GMC pool. Vegas Fair enough Vegas but i have to say bejjan is a great lad and a friend of GameCredits.  I agree with Shavers. I'm overhauling my pool, and I do appreciate the support, but until it's ready, why not point it there? Gets you some GMC while I get my shit together. |
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So i have been lurking the threads for a while now, but I'm back to hopefully posting regularly  As you may or may not know, I manage the HyP Twitter. I just got a DM from cryptsy saying if we want to be listed there's a fee of 1 btc... Devs? Presstab? What you guys think? This is fake - see this tweet: BigVern @cryptsy05 Aug Be aware of a fake twitter account posing as Cryptsy We never accept BTC as a payment to get listed And will not contact you via twitter. Did you get a PM here? If so, I'll let Cryptsy know they're posting here too It's on twitter actually I personally know a number of cryptsy employees. They do not solicit funds for listing a coin. They have made some deals in the past, from my understanding, that ended up biting them. They don't necessarily list by vote, though. Also, we've been listed on Cryptsy for a long time. Somebody trying to steal a bitcoin. |
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Why limit yourself? All three look good, use 'em all  |
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thanks for the longer reply via edit, that is more your style.
It really is...for some reason I treat the Bitcointalk forums like IRC/real time chat and end up posting the initial thought and editing it to complete it. LOL. I tend to write a few words or a damn book on here. Not much in between. |
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Just to address some of the general questions, from my own experience, about tek staking. I have been involved with the coin since the november following it's launch. In that time, I have seen it go to dizzying prices and drop just as bad. I believe it was around 400 sats when I started mining it, and within a year was up to like .001 or higher. As POS rewards started exponentially increasing the coin supply, the prices dropped dramatically, but it has ALWAYS been cyclical. I think you see bill paying going on with that. Around the end and middle of the month, you see people dumping like madmen. Best time to buy In between, they try to bring their balances back to where they want them, which is the best time to sell. With the exception of GameCredits, al the coins I deal with outside of BTC are POS coins. Tek is BY FAR the easisest to stake. I have more than once even in times of high difficulty staked 1 coin. From watching it, and my own lacksadaisacal approach, I would guess that a great many people do NOT pay close attention to the diff. Those that do, get the greatest rewards. The rest of us are probably averaging 23 to 30 percent per month. Of all the coins I play with, TEK still tops my list for POS coins, followed very closely by HyperStake. Hyp is a very different beast, and very HARD to stake. I shan't discuss that here, as it's out of place. I also like TRK and Version 2, but it's mainly because of their Dev, noise23. At this moment, they don't have great markets. TRK is rising pretty well, though, and might be that latecomer that surprises everyone. Vegas really likes Orbit, I have no experience with it. NXT scares me, but it has done well. All in all, when I have spare BTC, I buy TEK ahead of all others. Nice, thx for this info. Just be careful of people accusing you promote HYP, TRK or NXT cause u did mention those. LOL! I've been a bbs rat for 40 years. If I'm not gettin' trolled I figure I wasn't loud enough. I almost never take it personal. Those that know me know what kind of person I am, those that don't, fuck 'em with a lightpole. The way you put things does come off a bit negative sometimes. No worries, some people just can't handle criticism, and I think even more just misinterpret. |
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Semi Marketing Update:
Waiting for stickers to arrive, in talks with a couple trucking companies and other acquaintances.
Might have to wait for some of the companies, because they may want me to pay a small amount for advertising on their trailers.
Owner/ops that I know, who have their own trailer shouldn't be much of a problem.
Excellent! I'm on sort of vacation till the end of September, will try to get some nice graphics stuff for TRK when i get back to work. Thanks, I hope it doesn't seem like I'm trying to step over anyone !!! I just wanted to get the ball rolling with some kind of marketing. If someone wants to contact other artists or has ideas for other graphics, and they don't want me using a certain graphic or something - I hope you please let me know! Again, I don't want it be like I'm stepping over anyone, and I hope the community doesn't see it as that way. I'll try to remain as transparent as I can with efforts I'm trying.. All respect to the community, this coin is awesome! keep on Truckin' !  I obviously can't speak for the community as a whole, but from my perspective, you are doin' exactly what needs doing. Noise has also pretty much said that above Keep on Truckin' |
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Just to address some of the general questions, from my own experience, about tek staking. I have been involved with the coin since the november following it's launch. In that time, I have seen it go to dizzying prices and drop just as bad. I believe it was around 400 sats when I started mining it, and within a year was up to like .001 or higher. As POS rewards started exponentially increasing the coin supply, the prices dropped dramatically, but it has ALWAYS been cyclical. I think you see bill paying going on with that. Around the end and middle of the month, you see people dumping like madmen. Best time to buy In between, they try to bring their balances back to where they want them, which is the best time to sell. With the exception of GameCredits, al the coins I deal with outside of BTC are POS coins. Tek is BY FAR the easisest to stake. I have more than once even in times of high difficulty staked 1 coin. From watching it, and my own lacksadaisacal approach, I would guess that a great many people do NOT pay close attention to the diff. Those that do, get the greatest rewards. The rest of us are probably averaging 23 to 30 percent per month. Of all the coins I play with, TEK still tops my list for POS coins, followed very closely by HyperStake. Hyp is a very different beast, and very HARD to stake. I shan't discuss that here, as it's out of place. I also like TRK and Version 2, but it's mainly because of their Dev, noise23. At this moment, they don't have great markets. TRK is rising pretty well, though, and might be that latecomer that surprises everyone. Vegas really likes Orbit, I have no experience with it. NXT scares me, but it has done well. All in all, when I have spare BTC, I buy TEK ahead of all others. |
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Hey BIO, I use KNCminer Titans too and would love to mine GMC on your pool. Email me when its Titan ready.
Vegas
Will do. Watch here, too. I should have it done today, but my life is a race, so I can't swear to it. |
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yup , it sat for an hour or so and the blockchain is syncing , thanks!
seriously an hour? That might be a record. I've personally seen ten minutes before it found a peer, and heard of a half hour Mr. Murphy was aware of you, I suspect |
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Wow, what a dump. I see PoS diff very low recently, that must be the reason. What I don't understand is the fact PoS diff does not go up after so many stakes. Tek has not had 40% stake a long, long time ago.
The only thing I dislike with Tek is unlimited number of coins, this is very unusual in Crypto. Maybe the dev can look at this to change in one of future forks.
You're mistaken, Ivan. Almost all PoS coins are unlimited supply. It was apparently unintentional in Sunny King's original code, but I can't think of any PoS coin that actually has an upper limit. Not even NXT, and it didn't come from Peercoin code. TEK has a limit on mining, I believe, but not minting. I might be wrong on the former as well. |
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Would be nice to see the sell walls around 20k moved so we could continue growing! Also, a lot of volume has dropped off in the last 12 hours. Was GMC just a week long pump?
If so, it wasn't the dev team I suspect more that people see us working toward real world goals. Also, with the ethereum debacle, prices are down almost across the board. But I think the early suckers investors in that are just about out of gas, so things ought to turn around pretty soon. |
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I was afraid of that. I think I figured out where the bottleneck is. bigger server is giving better performance everywhere except stratum. Acidpool is using NOMP as the stratum, and not having the problems I am, so I'm going to switch to that. I'll keep y'all posted. It should be done today. |
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Update on the GMC! pool. It's been successfully migrated to a much larger server. I still got some backend tweaking to do to make it run smoother, but it should be ok now. One of you guys with large hashpower, could you do me the favor of pointin' that cannon my way and see if it is reporting correctly now? give it at least twelve minutes, because the stats only update every three. That will be changing, since the new server can handle the load |
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Just to show some of the cost involved... this was the cheapest stickers I could find (at buildasign). If anyone knows of a lower price, please let me know.  Put 'em on a website. Sell 'em for the equivalent of $3.00 in TRK |
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EVERYBODY OUT DA POOL!!!! The server it's running on has proven inadequate. Batesresearch is providing us with a much higher spec server and we're migrating the pool, block explorer, and seeder over the course of the day. I'd prefer everyone currently mining goes to their backups until it's all transferred. There is always the possibility that it will be smooth and no hiccups... But me and Mr. Murphy have a long standing personal relationship, and it's not a good one To reiterate, the GMC pool is being migrated to a new server. If you don't have a failover set, do so now. Preferably, go there. I will announce when everything is stable again. This will hopefully cure the issues we've been having with hashrate, plus give me enough room to grow as we continue to rise to power. |
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Price rising... What is everyone aiming for?
We're going for the 384,400 km or 238,900 miles. Google it Diana is a false goddess. Change that focus to 140 million miles Takes about the same fuel, and has resources to make a new home for humanity. |
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Hey bio there are still issues on your pool. Its showing only about 1% of my speed and very low payouts. I dont know if OCminer would be kind enough to look at it for you For now Ill head over to acid Vegas I think I found the problem. I'm overrunning the memory. Gonna set the swap a lot higher, and see if that fixes it. Even low hash rigs like mine are only showing like 80%. I'll update, but yes, for now, it would be better to use acidpool or suprnova. I'll keep y'all posted. |
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