If you have millions of Tek, you can afford to split a sizeable portion into masses of 1k+ blocks and still punch heavy with big stakers. That makes staking skewed in the favour of the larger account holders. It shouldn't be too difficult for anyone who is proficient in putting a command line together to recombine and split back into 1k+ stakes. Regarding the proposal of a reduced rate of interest of 5% for others, we should be prepared to take that medicine ourselves ... 5% for all, and a timetabled sliding scale leading towards it. How would that go down with all you high rollers? That wouldn't solve the microstaking issue, but it would go a long way to putting a break on the coin supply. So, that's three so far who have come out in favour of the <1k barrier. Not many. Nobody, out of the millions of people worldwide, has yet come out totally against linking difficulty to the coin supply, so it looks like that solution is way ahead (see how things can be skewed the other way  ). So let's hear it from those who are against the %/coin supply link. Knowing that, I suggest we then look at what else could be viable, including <1k+. I have said before, that as a large holder, I am in favor of controlling inflation, even if it means lowering the interest rate. If you took a million TEK and broke it into 1000 Tek blocks, you would have 1000 of them. A few larger holders staking that way, and you have micro-staking all over again. Just on a larger scale. This is a stop gap at best. Lets face it, at current prices, 1000Tek is worth a whopping .80 cents US. I really don't think 'the poor' who have less then 1000 are going to be complaining much. Dig into your penny bank and bring up your stock of coin, or don't invest in TEK. That being said the <1000 threshold is not going to work for the reason above. We need a better solution. So ideas. 1) Stake amount is based on how long you wait for maturity. If we go to a flat rate, we could give a bonus for leaving it in a wallet longer. Such as, 10% if you stake in 30 days, 25% if in 60 or more? And no difficulty. just round numbers and throwing out ideas. 2) if you attach to supply, how is it regulated? Any way to attach percentage to trade volume? As long as volume is up so is interest? When it drops, so does interest? The quandary here is: if we cut the stake too much, nobody will want the coin. If we don't cut it enough, runaway inflation and nobody will want the coin. The other thing I would like to see fixed is the ability for someone to game the system. This is happening with the difficulty situation, we need to nip this once and for all. |
|
|
|
Let's press for a consensus and then put it to Thundertoe. After all Tek isn't a democracy. He decides what he thinks is the best way forward.
So who doesn't agree with a fix that includes decoupling the link between the percentage payout and the difficulty, and links the percentage payout to the coin supply?
I actually prefer the schema that Thundertoe had proposed, where anything <1K is not eligible for stake. Doesn't completely stop microstaking, but it certainly changes the game. Since difficulty is a function of coin supply indirectly already, I am more in favor of the <1K thing. Maybe a flat rate of 5% up to 1K TEK, this way folks with small holding still have incentive, but anyone with quantity has motivation to coin control. |
|
|
|
Guys, I've been reading all your posts concerning the wait for the difficulty to be at the right level to stake and I've decided to invite all of you to join me in a very easy math exercise. Let's assume someone has a 100k block, shall we? 1st scenario - high difficulty (stake rate 10%) 30 days - 100,000+10% = 110,000 60 days - 110,000+10% = 121,000 90 days - 121,000+10% = 133,100 2nd scenario - wait 90 days for low difficulty (stake rate 40%) 90 days - 100,000+40% = 140,000 Now, these are extreme conditions and in reality one has to very unlucky to stake at 10% three months in a row, or to be very lucky to stake at exactly 40% after three months. real life scenario 1 - high difficulty (stake rate 12%-15%) 30 days - 100,000+12% = 112,000 60 days - 112,000+15% = 128,800 90 days - 128,800+12% = 144,256real life scenario 2 - wait 90 days for low difficulty (stake rate 35%) 90 days - 100,000+35% = 135,000I know, this has nothing to do with the micro stakers conspiracy. What I'm trying to show is that IMHO if we want to gamble on luck we might as well stake every 30 days because there are good odds at getting a better income. In reality, with a bit of luck one can stake at 25% or maybe even at 35% only after 30 days! So why the wait? Not for me... I stake every month, consolidate my blocks, and hope for the best. Cheers!  That's what I have been doing , but last stake yield was only 6.5-8.5% , 140k staked 9700++. So it would seem if yield is below 10% , than the next thing would be to wait the 90 days I don't believe that is quite how it works. The 90 days would be prorated at whatever the current stake rate is for the extra days beyond 30, so the yield would be much higher. |
|
|
|
this coin is coming back again?
Some say TEK is back. I say it never left! |
|
|
|
|
Diff is .00895 stay alert!
|
|
|
|
Biomech you much well come, are they any plans for tek , will they be a hard fork ?
I honestly don't know. I know that Thundertoe and Noise23 were working on it, but Thundertoe lost everything in the cryptsy meltdown, so I don't know what he's gonna do. I pm'd Thunder, and asked specifically. He indicated that Noise23 had an update about ready, and that a hard fork could be part of that. |
|
|
|
|
Do I understand correctly that we will have to exchange Gen-1 for Gen-2 coin? Not being handled via a hard fork?
|
|
|
|
My suggestion for improving the coin in Gen-2,
Get rid of this:
Block 0 - 12,500 = 1,000,000 % Per Annual Year / 2739% Per Day
Block 12,501 - 15,000 = 100,000% Per Annual Year / 273.9% Per Day
Block 15,001 - 17,500 = 10,000% Per Annual Year / 27.39% Per Day
Block 17,501 - 20,000 = 1,000% Per Annual Year / 2.739% Per Day
Block 20,001 - 100,000 = 100% Per Annual Year / 0.2739% Per Day
Block 100,001 - 1,000,000 = 10% Per Annual Year / 0.02739% Per Day
Block 1,000,000 And After 100% Per Annual Year / 0.2739% Per Day
The whole shooting match should stake the same, not giving some holders preferential treatment.
And why blocks 100,000 to a million have a lower rate? None of this makes sense.
Having an overall fair stake will also make your code more simple.
Love to see you fix some of the issues, looks like you may be on to something.
How can he get rid of it? We are already beyond block 100,000. Is he going to modify POS in gen2? I hope so. Things like the above cast a bad light on the coin, If you math things out, its not a huge amount of coin, but still makes you say WTF??? |
|
|
|
Diff .0140 keep an eye on it!
still too high , but price on yobit for tak is better Tek price is creeping up. The disparity between bid and ask is widening. Have to attribute some of that to diminished supply. Since we are not staking so much that is. Diff still slowly falling. .01365 |
|
|
|
|
My suggestion for improving the coin in Gen-2,
Get rid of this:
Block 0 - 12,500 = 1,000,000 % Per Annual Year / 2739% Per Day
Block 12,501 - 15,000 = 100,000% Per Annual Year / 273.9% Per Day
Block 15,001 - 17,500 = 10,000% Per Annual Year / 27.39% Per Day
Block 17,501 - 20,000 = 1,000% Per Annual Year / 2.739% Per Day
Block 20,001 - 100,000 = 100% Per Annual Year / 0.2739% Per Day
Block 100,001 - 1,000,000 = 10% Per Annual Year / 0.02739% Per Day
Block 1,000,000 And After 100% Per Annual Year / 0.2739% Per Day
The whole shooting match should stake the same, not giving some holders preferential treatment.
And why blocks 100,000 to a million have a lower rate? None of this makes sense.
Having an overall fair stake will also make your code more simple.
Love to see you fix some of the issues, looks like you may be on to something.
|
|
|
|
|
Diff .0140 keep an eye on it!
|
|
|
|
Ah ... the plague of the Micro-men! Now, I wonder who they are?
The dreaded Micro-men. Who knows what evil lurks in the hearts of men..... Lamont Cranston.... "... dead men, in spite of the legend, do tell. Yes they speak and point with a bony, fleshless finger at their murderers ..." Cat it looks like you've angered someone. Straight after your post the difficulty shot up from 0.02 to 0.08. I've never seen it that high before. Its now back to 0.02. Yeah, judgedredd_ informed everyone that he decided to stake... So I guess he's one of the micro-stakers... That is your conclusion? because I staked, that I am a micro-staker? Do you even know whats a micro-staker? go do some search. Apologies if I was jumping to conclusions, but you did post that you started staking when the difficulty was at 0.02, and were 'still staking hehe' when it was right up at 0.05... That was the implication that I drew from it, at least... I've never seen the difficulty as high as it got, and it's making the annual interest ridiculously low... If that wasn't down to you, then as I said, apologies for making assumptions... But if it was, then please combine your blocks... I just have a lot of big blocks ...that all staked But why did you continue to stake when the difficulty was zooming up and make a point of showing us all a graph of it doing so? That's like jumping off a skyscraper and shouting, "Look Ma, I'm flying! Because, it was fun to watch the diff skyrocket to the moon. Golly you two, get a room! |
|
|
|
Ah ... the plague of the Micro-men! Now, I wonder who they are?
The dreaded Micro-men. Who knows what evil lurks in the hearts of men..... Lamont Cranston.... "... dead men, in spite of the legend, do tell. Yes they speak and point with a bony, fleshless finger at their murderers ..." Cat it looks like you've angered someone. Straight after your post the difficulty shot up from 0.02 to 0.08. I've never seen it that high before. Its now back to 0.02. Yeah, judgedredd_ informed everyone that he decided to stake... So I guess he's one of the micro-stakers... That is your conclusion? because I staked, that I am a micro-staker? Do you even know whats a micro-staker? go do some search. Judgedredd, Are you aware that you are really taking a beating on interest by staking when difficulty is this high? Right now you would be lucky to even approach 10% per month, where if you can wait until diff is .0001 or less, you can get upwards of 30% to the full 40%. I don't want to assume you are a newbie, but most folks are waiting. Even if you wait beyond the 30 days, your stake is prorated for the extra days up to 90 days, so you won't lose out by holding off. If you know all of this and are just using a different strategy please disregard. |
|
|
|
|
Difficulty is .0165 still high but coming down. Be ready!
|
|
|
|
Ah ... the plague of the Micro-men! Now, I wonder who they are?
The dreaded Micro-men. Who knows what evil lurks in the hearts of men..... Lamont Cranston.... "... dead men, in spite of the legend, do tell. Yes they speak and point with a bony, fleshless finger at their murderers ..." Cat it looks like you've angered someone. Straight after your post the difficulty shot up from 0.02 to 0.08. I've never seen it that high before. Its now back to 0.02. See! The Shadow has power! :-) |
|
|
|
Ah ... the plague of the Micro-men! Now, I wonder who they are?
The dreaded Micro-men. Who knows what evil lurks in the hearts of men..... Lamont Cranston.... |
|
|
|
|
I am in favor of all of us keeping an eye on the difficulty. If we see an appreciable drop, sound the alarm on the thread. Until the fork happens, it may be the way we can all stake at a more reasonable rate, and help foil the plans of the micro-men.
At the time of this post, Diff is still .02300, so no immediate relief or signs of the Diff-o-matic going off line.
|
|
|
|
I was gonna stay out of this, as it's clearly a private dispute. But I have to say that the posts made by you vs. m33 don't paint a very professional picture. Take this advice as at least worth what you paid for it, but it's from someone who has done customer service their entire life.
Some customers, despite what they might seem to those who know them, are idiots. Maybe not in all things, maybe not all the time. But there will be a time when you just get too pissed off at somebody to deal with them. So you don't. Not this way.
What would have profited you more was to apologize, restore his account, and PRIVATELY ask him to be a bit more sensitive to the situation. EVEN IF YOU'RE DEAD CERTAIN THAT YOU'RE IN THE RIGHT. Why? Because if you respond as unprofessionally as you have, it makes YOU look like an asshole, even if you weren't. And it does make you look unstable.
I like your exchange. I don't do a lot of business there, and I mainly stay out of troll boxes as they are full of trolls. But if you'd banned me for ONE random comment, even a stupid one, I'd have been pissed off and sought out the competition. OTOH, if you'd have said something like "Biomech, please don't stir the pot", I'd have acknowledged it and moved on. Never gave it a second thought. Some places are more rowdy than others, and you cannot afford to take people personally if you're in business. And yes, I fully realize how hard that can be sometimes. Saying "Have a nice day" when your brain and gut are screaming "skin this fucker" is the mark of a professional. It's easy to conduct good business with easy people. They are not and never will be the test.
Here's the thing, and there's so much more to all of this than really feels appropriate to cover in this thread. I agree with everything you've said, were this another job, and I were working for someone else. But we're working for ourselves, and not for someone else, and we're not trying to be the "professional" exchange. Most of our users understand this, and I would even go as far as to bet as that's why a lot of them keep coming back. Cryptsy were very professional in the way they told sa_ddam213 to go fuck himself when they lost his BTC 2 years ago (Not related to and separate to the current Cryptsy situation), and they've been very professional up until now, but I don't see anyone sitting around now saying "Yo know what? At least they were very professional about it all.". So we're not professional, but what you see is exactly what you get with us, and we call it how we see it. We're building a community, and we've outlined rules, and people who don't uphold those rules aren't welcome. Some people use our site because of the coins we don't list, and the people we keep out. Why can't we have our own company culture? So what if you don't agree with it? We're not asking you to use our site, if you don't fit our community we don't even wan you to. Some people seem to struggle with that concept. If you don't like us, go some where else. If you don't like anywhere else, make your own. If you can't, then deal with it. We're not trying to cater to everyone, we only wanted to make the site we ourselves wanted to use. Hex, You do have the right to build your business to cater to whomever you please. I, Like biomech have been in customer service for decades, and I totally get what he is saying. Most of us in small business wish to have as wide of a customer base as possible to maximize profitability. There is nothing more humbling then telling someone who deserves a ‘kiss my ass and f*** off’ that you appreciate his concerns and will look at trying to improve the process. It is totally up to you if you want to ‘call it like you see it’ as you correctly say you tend to do, or take the more tactful line. I can recite several instances where I have taken the high road, and have had customers I was ready to write off come back and apologize, and bring me more business. Never would have happened if I had told them what was on my mind. I would never suppose to tell you how to run your exchange. If you are comfortable where you are at, more power to you. I have not been offended, and I will still use your services. I know not to ‘poke the bear’. The reason folks like myself and Biomech even bother to say anything? We see value in what you offer, and wish you the greatest success possible. If we can offer constructive help that costs you nothing, and it really does help, the desire is there to do so. If on the other hand, you are dead set on doing things as described above, again, your choice. In either case, my vote of thanks was sincere. If I were to ask for any consideration: I know we are all big boys and girls, but a few less F-bombs would be appreciated. Kindest Regards, Joebwan Kanobe. |
|
|
|
Damn it Thunder! Post a TEK donation address! I gots some to donate! I wish to offset some of your Cryptsy debacle and help with the web page renewal. You aint getting my bitcoin, but I am happy to throw a pile of TEK you way. I don't care if you just turn around and sell it for bitcoin, but I am not going to do it for you. So out with it! your TEK donation address is......? |
|
|
|
Here is a truly sad fact , yesterday I started to stake at Pos diff of 0.025 the rewards where from 8.75% to 9.3% rough estimate 140k of tek minted 9700 units
Hang in there! The winds of change are blowing according to the DEV team. I am currently holding off on staking. At some point 'ol Micro-man has to turn off the diff-o-matic so he can stake, I will jump in then, or... the promised change is a coming! I dont know if a wallet change effects the age of my coin, (I suspect not.) But even if I loose a round of stake to fix the problem, I am totally cool with it. The additional 60 days after the maturity date prorated is something great to fall back on, especially now. You won't loose by waiting, and could win big. Patience young grasshopper! |
|
|
|
|
Show Posts
