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Author Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico  (Read 429647 times)
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AforAmethyst
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October 13, 2015, 11:18:55 AM
 #4221

you will be paid interest passed the 30 days so if your unlock your wallet after 35 days whatever the PoS rate at the time you will be paid for 35 days.
Thanks for clearing that up Ryan. It wasn't clear in the description of the coin on page 1.

So the choices are: Keep ypur wallet locked and get a higher interest in the future when the difficulty changes
                             Or, get paid at 30 days but get compound interest on the funds received at a lower interest rate.
                             flip a coin and pick your poison
It certainly feels like poison after getting an easy max % on my first stake last month! Still, the % is still good even at the lower levels.


***LATER EDIT 14 Oct 2015: The lower percentages are not as good as I thought when you take into account that the price of Tek has been falling. I noticed it fell by over 5% at one point today. That cuts into any POS % which you have to build up to for over 30 days. I'm starting to rethink my position on this coin.
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October 13, 2015, 02:35:03 PM
 #4222

you will be paid interest passed the 30 days so if your unlock your wallet after 35 days whatever the PoS rate at the time you will be paid for 35 days.

That's pretty sick. I was going to put another $200 into hyperstake but I might buy tek with it instead.

This is tough indeed.

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October 13, 2015, 04:51:54 PM
 #4223

could somebody please tell me with what formula was the staking percentage graph on op drawed?
is 15% at 0.003 the lowest interest or may it decrease even more?
thank you!  Smiley

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October 13, 2015, 04:53:19 PM
 #4224

could somebody please tell me with what formula was the staking percentage graph on op drawed?
is 15% at 0.003 the lowest interest or may it decrease even more?
thank you!  Smiley

https://bitcointalk.org/index.php?topic=320404.0    Grin look OP

Bad times make up strong men, strong men make up good times, good times make up the weak men, weak men up bad times ..... where we are now Huh??
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October 13, 2015, 05:06:45 PM
 #4225

could somebody please tell me with what formula was the staking percentage graph on op drawed?
is 15% at 0.003 the lowest interest or may it decrease even more?
thank you!  Smiley

https://bitcointalk.org/index.php?topic=320404.0    Grin look OP
Huh there're no answers to the above questions on op...

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October 14, 2015, 12:26:18 AM
 #4226

Hi please help why still my wallet no POS how many confirm ?
please see screen shot , thanks for help



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October 14, 2015, 12:36:47 AM
 #4227

Hi please help why still my wallet no POS how many confirm ?
please see screen shot , thanks for help




You have to wait 30 full days dude...

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October 14, 2015, 12:52:36 AM
 #4228

Hi please help why still my wallet no POS how many confirm ?
please see screen shot , thanks for help




You have to wait 30 full days dude...


must be a open wallet 30 days running? or you can turn off and turn after 30 days

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October 14, 2015, 05:26:36 AM
 #4229

Hi please help why still my wallet no POS how many confirm ?
please see screen shot , thanks for help




You have to wait 30 full days dude...


must be a open wallet 30 days running? or you can turn off and turn after 30 days

The days accumulate whether your wallet is unlocked, open and locked or closed.
Best wishes

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October 14, 2015, 12:07:11 PM
 #4230

Hi please help why still my wallet no POS how many confirm ?
please see screen shot , thanks for help




You have to wait 30 full days dude...


must be a open wallet 30 days running? or you can turn off and turn after 30 days

The days accumulate whether your wallet is unlocked, open and locked or closed.
Best wishes

So I have to wait because I wanted to buy some TEK, thanks for the reply

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October 14, 2015, 01:46:47 PM
 #4231



So I have to wait because I wanted to buy some TEK, thanks for the reply

Yeha, it's very passive, but hte payout after 30 days is very good.

Tekcoin is going down a lot in price and hte all time low was around 1000 satoshis per TEK, so might be a great time soon to buy.

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October 14, 2015, 02:55:39 PM
 #4232



So I have to wait because I wanted to buy some TEK, thanks for the reply

Yeha, it's very passive, but hte payout after 30 days is very good.

Tekcoin is going down a lot in price and hte all time low was around 1000 satoshis per TEK, so might be a great time soon to buy.

Q. Will the diminishing POS % be enough to cover the consistent % fall in the price?

Tekcoin is becoming increasingly centralised for the benefit of a few who are manipulating the difficulty and gaming the system. Not good in my humble opinion. Thundertoe, pull your finger out and do something!
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October 14, 2015, 03:11:11 PM
 #4233



So I have to wait because I wanted to buy some TEK, thanks for the reply

Yeha, it's very passive, but hte payout after 30 days is very good.

Tekcoin is going down a lot in price and hte all time low was around 1000 satoshis per TEK, so might be a great time soon to buy.

Q. Will the diminishing POS % be enough to cover the consistent % fall in the price?

Tekcoin is becoming increasingly centralised for the benefit of a few who are manipulating the difficulty and gaming the system. Not good in my humble opinion. Thundertoe, pull your finger out and do something!

Yeah I want to invest in this coin more heavily but right now this is suffering from:

1. Uncertainty over next wallet hard fork.
2. The solution to the current difficulty manipulation is going to hurt small/newer investors, which is bad.
3. People are dumping TEK due to #1-#2, which means people with money like me won't pull trigger to invest, yet.

TEK coin is very rich people friendly, which is why it's valuable but it's the new people who adopt it that breathe life into it. The sooner the hard fork occurs the sooner we get back to normal. Cutting returns or rewards always ends in disaster because alt coins need to be worth minting/mining to bother with. Everyone here seems very happy to get 40% with the current structure so at least I know after the hard fork the rewards will increase (in fact that's why we're having hard fork, to get back that high reward).

And proof of stake coins are better suited to centralization since it promotes a savers/holders mentality, so it's fine. A 51% attack on POS only hurts the person doing the attacking mostly from what I understand.

Hopefully Thundertoe can clue us in on how close the new wallet is coming to do the hard fork so we can get this over with.

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October 14, 2015, 03:43:32 PM
 #4234

(My thoughts in italics).

Yeah I want to invest in this coin more heavily but right now this is suffering from:

1. Uncertainty over next wallet hard fork.

   - Maybe Thundertoe is busy working on this and news from him on the direction he is taking would help dispel uncertainty.

2. The solution to the current difficulty manipulation is going to hurt small/newer investors, which is bad

   - It wouldn't be bad for smaller investors if the POS % is linked to the coin supply as others have suggested.

3. People are dumping TEK due to #1-#2, which means people with money like me won't pull trigger to invest, yet.

TEK coin is very rich people friendly, which is why it's valuable but it's the new people who adopt it that breathe life into it. The sooner the hard fork occurs the sooner we get back to normal. Cutting returns or rewards always ends in disaster because alt coins need to be worth minting/mining to bother with. Everyone here seems very happy to get 40% with the current structure so at least I know after the hard fork the rewards will increase (in fact that's why we're having hard fork, to get back that high reward).

   - I'd be happy with a system that is fair for everybody, even if the POS reward falls. If the system is can be gamed by those who are in a position to do so, then people will lose interest (no pun intended).

And proof of stake coins are better suited to centralization since it promotes a savers/holders mentality, so it's fine. A 51% attack on POS only hurts the person doing the attacking mostly from what I understand.

   - Is this right, only the attacker would be hurt in a 51% attack on a POS coin? What about the miners who mine the POW part of this coin?

Hopefully Thundertoe can clue us in on how close the new wallet is coming to do the hard fork so we can get this over with.

So what's the feeling on the options of preventing the smaller amounts from staking, or linking POS % to the coin supply, ... or any other solution? I reckon that linking the % to the coin supply is the fairest and most effective option in securing the future of TEKcoin.
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October 14, 2015, 04:33:24 PM
 #4235

Have two things in mind:
1 - Will the auto-combine will bring more supply for the market to lower the price! thats for sure!
2 - Is not that matter - the freedom of choice! you can contribute to security by holding small blocks in the wallet! You cant dictate people in what fractions do they want their blocks in their own wallets!
so no communizm please Smiley
peace

So, I would add this only as the option in the wallet.. so we dont need hardfork that will lower the security of the POS coin
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October 14, 2015, 06:07:03 PM
 #4236

I like the idea of forcing a combine on stake, which is what Netcoin does for their POS algorithm.

That way everyone who has small stakes (legitimate due to being poor or not investing a whole lot) grow their wealth like normal and those who game the system can't because the TEKcoin system will jsut auto-combine them, thus eliminating hteir manipulation on auto-pilot.

A lot of pos stakes on presstab.pw shows a lot of micro stakes being staked, but difficulty seems to be dropping finally.

Thundertoe has a lot to consider, along with the other devs, so we'll see how this plays out. At least tekcoin is getting cheaper...

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October 14, 2015, 06:19:40 PM
 #4237


So what's the feeling on the options of preventing the smaller amounts from staking, or linking POS % to the coin supply, ... or any other solution? I reckon that linking the % to the coin supply is the fairest and most effective option in securing the future of TEKcoin.

Preventing smaller amounts from staking is very unfair and draconian towards poorer or not well funded newcomers and investors. Any cryptocurrency should be poor friendly (after all, most people in thsi world are poor but you want them to adopt something that could give them a shot at the good life).

Linking pos reward to coin supply could work but I'm going to guess that could imply that rewards go down as supply naturally increases, which I think is going to kill the value of Tekcoin, as it does every other coin.

Could try linking rewards to block sizes, and giving higher rewards to larger blocks. If it can't be helped, maybe no rewards for blocks of size less than 100 or 150. Then:

0-150 Tek no reward, 151-400 5-15%, 401-700TEK 20%, etc etc. This is just an example. The problem is, reward is still somewhat tied to difficulty and frequency of stake according the rules of Tekcoin. So manipulators will jsut manipulate through the next smallest eligible block size.

Making something fair for everyone is VERY difficult to do. Part of the problem is I can't figure out a "compromise" that let's everyone "kind of win". Someone has to lose it seems. That's an uncertainty I'm not comfortable with.

I invest in other pos coins like bitbean, hyperstake, and quotient coin. I use to do netcoin (pretty solid but I wasn't happy with the returns). Tekcoin is the first coin I've encountered where there's a real problem that prevented me from investing a large amount of $ into it due to said problem.

Hopefully this gets resolved soon.

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October 15, 2015, 02:32:29 PM
 #4238




Asshole wallet of the day. http://www.presstab.pw/phpexplorer/TEK/address.php?address=BiLSA5EgqCPm9xi7jjTNxmsmuiKcLxtVW8

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October 15, 2015, 02:35:51 PM
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So what's the feeling on the options of preventing the smaller amounts from staking, or linking POS % to the coin supply, ... or any other solution? I reckon that linking the % to the coin supply is the fairest and most effective option in securing the future of TEKcoin.

Preventing smaller amounts from staking is very unfair and draconian towards poorer or not well funded newcomers and investors. Any cryptocurrency should be poor friendly (after all, most people in thsi world are poor but you want them to adopt something that could give them a shot at the good life).

Linking pos reward to coin supply could work but I'm going to guess that could imply that rewards go down as supply naturally increases, which I think is going to kill the value of Tekcoin, as it does every other coin.

Could try linking rewards to block sizes, and giving higher rewards to larger blocks. If it can't be helped, maybe no rewards for blocks of size less than 100 or 150. Then:

0-150 Tek no reward, 151-400 5-15%, 401-700TEK 20%, etc etc. This is just an example. The problem is, reward is still somewhat tied to difficulty and frequency of stake according the rules of Tekcoin. So manipulators will jsut manipulate through the next smallest eligible block size.

Making something fair for everyone is VERY difficult to do. Part of the problem is I can't figure out a "compromise" that let's everyone "kind of win". Someone has to lose it seems. That's an uncertainty I'm not comfortable with.

I invest in other pos coins like bitbean, hyperstake, and quotient coin. I use to do netcoin (pretty solid but I wasn't happy with the returns). Tekcoin is the first coin I've encountered where there's a real problem that prevented me from investing a large amount of $ into it due to said problem.

Hopefully this gets resolved soon.


in the Spirit of giving the assholes who are intentionally doing this as much punishment as possible while making it as hard as we can for them to try it again... 1k+ or nothing is more effective. Though to future proof it somewhat it will likely be more like this, 1k is what % of moneysupply..   if trying to stake under that floating % that will keep rising with mintage.. you get squat.
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October 15, 2015, 03:08:17 PM
 #4240


So what's the feeling on the options of preventing the smaller amounts from staking, or linking POS % to the coin supply, ... or any other solution? I reckon that linking the % to the coin supply is the fairest and most effective option in securing the future of TEKcoin.

Preventing smaller amounts from staking is very unfair and draconian towards poorer or not well funded newcomers and investors. Any cryptocurrency should be poor friendly (after all, most people in thsi world are poor but you want them to adopt something that could give them a shot at the good life).

Linking pos reward to coin supply could work but I'm going to guess that could imply that rewards go down as supply naturally increases, which I think is going to kill the value of Tekcoin, as it does every other coin.

Could try linking rewards to block sizes, and giving higher rewards to larger blocks. If it can't be helped, maybe no rewards for blocks of size less than 100 or 150. Then:

0-150 Tek no reward, 151-400 5-15%, 401-700TEK 20%, etc etc. This is just an example. The problem is, reward is still somewhat tied to difficulty and frequency of stake according the rules of Tekcoin. So manipulators will jsut manipulate through the next smallest eligible block size.

Making something fair for everyone is VERY difficult to do. Part of the problem is I can't figure out a "compromise" that let's everyone "kind of win". Someone has to lose it seems. That's an uncertainty I'm not comfortable with.

I invest in other pos coins like bitbean, hyperstake, and quotient coin. I use to do netcoin (pretty solid but I wasn't happy with the returns). Tekcoin is the first coin I've encountered where there's a real problem that prevented me from investing a large amount of $ into it due to said problem.

Hopefully this gets resolved soon.


in the Spirit of giving the assholes who are intentionally doing this as much punishment as possible while making it as hard as we can for them to try it again... 1k+ or nothing is more effective. Though to future proof it somewhat it will likely be more like this, 1k is what % of moneysupply..   if trying to stake under that floating % that will keep rising with mintage.. you get squat.

So the percent will rise how quickly do you estimate?

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