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Author Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico  (Read 438984 times)
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thundertoe
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October 15, 2015, 03:37:42 PM
 #4241


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?

pulling a number out of the air maybe 20%? starting at 1k  then to be safe for 30 days you would need to put in 150% of that. max growth protection say chain grows 40% your 1k could be too little by stake day.
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ClioRS
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October 15, 2015, 05:26:59 PM
 #4242


Nope, this one: http://www.presstab.pw/phpexplorer/TEK/address.php?address=BkD5SEVs77t2ZZkDK5HAYkvw9sNoSqvC3R
skunk
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October 15, 2015, 06:03:29 PM
 #4243

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
nobody really knows how to calculate staking % given the pos difficulty?

bastilar
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October 15, 2015, 06:33:34 PM
 #4244

Doesn't the % seem to grow too fast? If I started with 1k, but after 30 days it needs to be 1500 on stake day, that's kind of a lot. Then the following month it'll be 1.5x 1500, etc. Max payout is 40% so doesn't this mean eventually everyone's blocks become too small in time?

20% is a good number though; means every block that stakes need to get at least 20% plus to out do the 20% stake growth requirement or whatever it's called.

This will hurt newcomers though but oh well.

And any estimate when the hard fork is coming? Just when hte difficulty was going back down, the microstakers are at it again.

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October 15, 2015, 10:01:32 PM
 #4245

Communism?!?!  What are you talking about?

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 15, 2015, 10:07:32 PM
 #4246

I have an idea that I think would solve it fairly with only short term pain to the lazy and the manipulators.

Whatever size blocks you have or coin supply is irrelevant.  Instead, only allow a wallet to mint once or twice per day.
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October 15, 2015, 10:15:02 PM
 #4247


I am not really sure that dude is an AsShole?!
All play by the same rule, if there is someone who have found the way to cheat.. then we can all agree and do a FIX and move on.. everybody just jump into new wallet and thats it!!!
This people will have to do this.. or they will make thair own coin choose or do a fork from this brilliant coin or go after some other smart commodities Smiley
Sorry for my english this evening Wink
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October 15, 2015, 10:24:23 PM
 #4248

I have an idea that I think would solve it fairly with only short term pain to the lazy and the manipulators.

Whatever size blocks you have or coin supply is irrelevant.  Instead, only allow a wallet to mint once or twice per day.

That could work too.

However the manipulator will create multiple addresses to get around the 1-2 stake per day limitation.

Never mind, i reread it and you said "wallet". Mayhap that could work but thundertoe seems pretty intent on a minimum 1k block to stake with some growing scale requirement as time goes on.

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October 15, 2015, 10:58:16 PM
 #4249


I am not really sure that dude is an AsShole?!
All play by the same rule, if there is someone who have found the way to cheat.. then we can all agree and do a FIX and move on.. everybody just jump into new wallet and thats it!!!
This people will have to do this.. or they will make thair own coin choose or do a fork from this brilliant coin or go after some other smart commodities Smiley
Sorry for my english this evening Wink

+1000
These ppl who are "gaming" the system can only do so because of the person who created this retarded POS scheme.
They don't cheat as such but make use of the rules.
So if you don't like it fix it instead of calling them ass holes !

( For the 3rd time... )
Why don't you guys use coin supply to adjust % instead of network load ? Huh

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October 16, 2015, 12:12:37 AM
 #4250


I am not really sure that dude is an AsShole?!
All play by the same rule, if there is someone who have found the way to cheat.. then we can all agree and do a FIX and move on.. everybody just jump into new wallet and thats it!!!
This people will have to do this.. or they will make thair own coin choose or do a fork from this brilliant coin or go after some other smart commodities Smiley
Sorry for my english this evening Wink

+1000
These ppl who are "gaming" the system can only do so because of the person who created this retarded POS scheme.
They don't cheat as such but make use of the rules.
So if you don't like it fix it instead of calling them ass holes !

( For the 3rd time... )
Why don't you guys use coin supply to adjust % instead of network load ? Huh

I would agree with you on linking the percentage payout to the coin supply and cutting the link with the network load. I would like to see micro-amounts prevented from staking for reasons I've stated before and Thundertoe is doing that with an amount he has adjudged to be the best value.

Thundertoe was not pointing the finger at anyone in particular with his 'asshole' comment and it seemed to me that there could have been several reasons why he made it, although I have seen a steady stream of worse examples over the last few days.

If I remember rightly, Thundertoe has been consistent in sticking to the 40% staking possibility for quite some time now. Perhaps he sees that as TEKcoin's 'unique selling point' and wants to retain that claim to fame? Linking the percentage to the coin supply would make 40% increasingly unachievable and lose that USP - making it more like other POS coins. However, I think that it will become inevitable that he will have to bite the bullet on this one at some point in the future.

For the now though, let's let Thundertoe get on with it. He has heard what the community have had to say. I'm sure that he will take that into account with the decisions he will be making.
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October 16, 2015, 12:50:10 AM
 #4251

I'd be OK with the 1000TEK minimum thing.  I don't see it as a problem for noobs because 1000TEK is only worth about $5.  That is not investing.  That is just getting in the way.  You can make more money from the cans in your own rubbish bin.  However, 1000TEK will become inadequate at some point.  Lowering the reward with increased coin supply will kill the coin, possibly; maybe not though.  I certainly won't become a millionaire though.  That means I would dump a LOT at some point and I doubt I'm the only one.

It took me awhile, until I saw the mass of 1 TEK stakes at the second address listed above to figure it out.  I really think a limit on the number of times a WALLET can stake per day is the way to go, notwithstanding technical/coding difficulty.
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October 16, 2015, 03:31:37 AM
 #4252


I am not really sure that dude is an AsShole?!
All play by the same rule, if there is someone who have found the way to cheat.. then we can all agree and do a FIX and move on.. everybody just jump into new wallet and thats it!!!
This people will have to do this.. or they will make thair own coin choose or do a fork from this brilliant coin or go after some other smart commodities Smiley
Sorry for my english this evening Wink

+1000
These ppl who are "gaming" the system can only do so because of the person who created this retarded POS scheme.
They don't cheat as such but make use of the rules.
So if you don't like it fix it instead of calling them ass holes !

( For the 3rd time... )
Why don't you guys use coin supply to adjust % instead of network load ? Huh


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AforAmethyst
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October 17, 2015, 03:20:10 AM
 #4253



GREED is GOOD

We can't be having it fair for everyone can we? It's not fair!
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October 17, 2015, 04:49:09 AM
 #4254

My opinion is , if it ain't broke, don't fix it. Seems to me that it would be better to create a whole new coin with the wanted changes. We are all in tek coin because of the way it is currently. I am proud of the fact that smaller amounts stake fine, when other coins only reward whales properly. That's my two cents and the last i will say about it.

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October 17, 2015, 05:21:45 AM
 #4255

My opinion is , if it ain't broke, don't fix it. Seems to me that it would be better to create a whole new coin with the wanted changes. We are all in tek coin because of the way it is currently. I am proud of the fact that smaller amounts stake fine, when other coins only reward whales properly. That's my two cents and the last i will say about it.

If there is not a change then, everyone will stake small amounts and it will really be broken.

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October 17, 2015, 12:46:21 PM
 #4256

I'm worried whatever new changes that come in will stifle/completely deter newcomers from coming in. We want more people to adopt this coin. If new people don't come in, and it'll likely be due to the requirement to stake is too high for first timers, that lack of growth will kill this coin as well.

Sure 1000 tek now isn't that bad, but later on when it's 10,000 tek or whatever, and if tek is still 2200 sats at the time, that's 0.22btc worth for someone to put in. That's too much to ask of a new person. They'll just go with other coins.

But microstaking is dropping the reward payout which is also not good.

thundertoe
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October 17, 2015, 04:44:47 PM
 #4257

My opinion is , if it ain't broke, don't fix it. Seems to me that it would be better to create a whole new coin with the wanted changes. We are all in tek coin because of the way it is currently. I am proud of the fact that smaller amounts stake fine, when other coins only reward whales properly. That's my two cents and the last i will say about it.

If there is not a change then, everyone will stake small amounts and it will really be broken.

you do not earn more if you microstake.. its a dick move to raise diff when you want to make others get nothing when they stake.. then you stop micro staking and turn on your whale wallet and get full rate.

Microstaking alone does fuck all to increase your payout, a larger block will compound more.
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October 17, 2015, 09:21:51 PM
 #4258

I have been thinking lately about TEK and I think I have an idea that might just work....maybe.... and its this: instead of listing the rich list with the top 100 richest addresses only, why not also list the bottom 100 poorest addresses (on a continual basis so its not a one time thing for just certain holders) and then let charity do its thing, let the hearts of people do what make people feel better about themselves. Maybe TEK can have something that auto-transfers a chosen % when staking to go to some dev fund/charity/education or whomever to help others.

FREEDOM
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October 18, 2015, 01:06:01 AM
 #4259

wtf, you deleted a fair comment thundertoe, censorship helps nobody!!

WTS ~150k TEK

Quote

bad call Big Toe, that dude is just maximizing his stake returns, that doesn't make him an asshole any more than a guy who uses an accountant to minimise his tax.

you're out of line with that comment IMO, but it's your coin, so you can insult your posse if you want to

what exactly is the 'asshole' doing?
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October 18, 2015, 01:41:47 AM
 #4260

wtf, you deleted a fair comment thundertoe, censorship helps nobody!!

WTS ~150k TEK


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