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Author Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico  (Read 430437 times)
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February 21, 2016, 01:44:29 PM
 #5001

Now that TekCOIN is on Yobit, its time to buy Smiley
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February 21, 2016, 01:50:25 PM
 #5002

I will be accepting TEKcoin on my upcoming projects.

Some already saw one of the goodies on live Smiley

What projects Dredd?
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February 21, 2016, 02:57:16 PM
 #5003

TEK climbing, at 335 Sat at YoBits! .12BTC volume already this morning. Go TEK!
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February 21, 2016, 06:34:03 PM
 #5004

Have been watching Yo-Bits through the morning, not too impressive for volume.  I have noticed Cryptopia volume die off as YoBits came online.  I think we may have just traded one low volume exchange for another.  We need to stay on Bittrex, Polo.  and for a stop gap...C-cex
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February 21, 2016, 08:19:28 PM
 #5005

TekCoin [TEK] is listed: https://yobit.net/en/trade/TEK/BTC
TekCoin Dice: https://yobit.net/en/dice/TEK



Code:
[url=https://yobit.net/en/trade/TEK/BTC][img]https://yobit.net/imginfo/TEK[/img][/url]

Donate TEK coins to our Giveaway: https://yobit.net/en/freecoins/

Please report about TEK update/fork/issue here: https://yobit.net/en/reportupdate/TEK


Nice! Things should pick up as more of the community finds out. Good Luck trading everyone and don't forget to show TEKcoin some love in the chat box.
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February 21, 2016, 10:11:30 PM
 #5006

Just wanted to take a minute to dispel some common myths I have been running into in the wonderful world of staking TEK.

The first: Several smaller stakes are better then 1 larger stake.  False.  Here is why:

Lets say you have 500,000 coin, divided up into equal monthly stake. 500,000 divided by 30 is 16,666.6666.

Lets assume you stake at 40% per month. So each day you would receive 16,666.6666 times 40% which is 6666.6666  So you would get 30 of these in a month for a total of: 200,000 coins.  This is in a perfect world, and well.... the world isn't perfect. More on this later.

So in the second case we have our staker with the same 500,000 coin, he has them all in one basket, and stakes once a month. He receives the same 40%.  So 500,000 times 40% is:  Wait for it...200,000 coins. Absolutely no difference. Simple laws of algebra.

Now what does make a difference is that our daily staker is at the mercy of difficulty.  In order to get his daily amount, he has to accept whatever the percentage is for that day.  Overall he (or she) is going to take a beating in lost stake due to difficulty.

Our monthly stake-miester on the other hand can play the waiting game.  When his pile of coin matures, if difficulty is low, the wallet is simply unlocked and Viola! Stake-a-mundo! Then he can coin-control everything into one address again, re-lock the wallet, and forget about things for a month.
But...IF difficulty is high, he simply waits until it drops to an acceptable level.  Since TEK pro-rates the stake after the 30 day mark, and up to 90 days, Monthly-Man has 2 months to play the waiting game with no penalty, and not have to invest his life into watching coin prices.

Our daily staker is contributing more to the difficulty madness due to more frequent staking, and he is arguably losing money to difficulty that he is partially responsible for.

Monthly-Man is not part of the difficulty problem, has more control, makes more money, and has his life back.

So....Why are you still staking daily?  Or worse.... Letting your wallet run amuck?  It costs you money, and all of us money in higher difficulty.  

Be a responsible TEK-head, use that coin-control and stake once a month.  You can thank me later!

Joebwan Kanobe
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February 22, 2016, 12:48:28 AM
 #5007

Just wanted to take a minute to dispel some common myths I have been running into in the wonderful world of staking TEK.

The first: Several smaller stakes are better then 1 larger stake.  False.  Here is why:

Lets say you have 500,000 coin, divided up into equal monthly stake. 500,000 divided by 30 is 16,666.6666.

Lets assume you stake at 40% per month. So each day you would receive 16,666.6666 times 40% which is 6666.6666  So you would get 30 of these in a month for a total of: 200,000 coins.  This is in a perfect world, and well.... the world isn't perfect. More on this later.

So in the second case we have our staker with the same 500,000 coin, he has them all in one basket, and stakes once a month. He receives the same 40%.  So 500,000 times 40% is:  Wait for it...200,00 coins. Absolutely no difference. Simple laws of algebra.

Now what does make a difference is that our daily staker is at the mercy of difficulty.  In order to get his daily amount, he has to accept whatever the percentage is for that day.  Overall he (or she) is going to take a beating in lost stake due to difficulty.

Our monthly stake-miester on the other hand can play the waiting game.  When his pile of coin matures, if difficulty is low, the wallet is simply unlocked and Viola! Stake-a-mundo! Then he can coin-control everything into one address again, re-lock the wallet, and forget about things for a month.
But...IF difficulty is high, he simply waits until it drops to an acceptable level.  Since TEK pro-rates the stake after the 30 day mark, and up to 90 days, Monthly-Man has 2 months to play the waiting game with no penalty, and not have to invest his life into watching coin prices.

Our daily staker is contributing more to the difficulty madness due to more frequent staking, and he is arguably losing money to difficulty that he is partially responsible for.

Monthly-Man is not part of the difficulty problem, has more control, makes more money, and has his life back.

So....Why are you still staking daily?  Or worse.... Letting your wallet run amuck?  It costs you money, and all of us money in higher difficulty. 

Be a responsible TEK-head, use that coin-control and stake once a month.  You can thank me later!

Joebwan Kanobe

This is incomplete, as it fails to factor compounding. If you have it divided so you're staking every day, it is likely that your end total will be somewhat higher than the 200K, again, depending on difficulty. I've not the time to analyze it right now, you may well be right over all, but leaving that part out makes for an incomplete argument.

And that came out really rude. I don't mean it that way, I just don't know how else to say it Cheesy

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February 22, 2016, 05:59:01 AM
 #5008


This is incomplete, as it fails to factor compounding. If you have it divided so you're staking every day, it is likely that your end total will be somewhat higher than the 200K, again, depending on difficulty. I've not the time to analyze it right now, you may well be right over all, but leaving that part out makes for an incomplete argument.

And that came out really rude. I don't mean it that way, I just don't know how else to say it Cheesy
[/quote]

I think I understand the compounding issue, but it compounds both ways.  If you stake daily, the reward will not stake again for 30 days same as if you stake monthly. you just get the reward in smaller pieces.  This would not be true if the balance could begin earning interest instantly, which it cannot, it still must wait the 30 days.

This differs from compound interest, which earns interest on interest as it is earned.  There is no waiting period. So the compound thing works here but not for something that must wait for a month to be eligible.

Not sure I am being clear here, but the math works :-)

Then the difficulty argument factors in, and even if you could compound like interest, you would loose any advantage to difficulty.  It would still work better to stake monthly.
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February 22, 2016, 06:52:40 AM
 #5009


This is incomplete, as it fails to factor compounding. If you have it divided so you're staking every day, it is likely that your end total will be somewhat higher than the 200K, again, depending on difficulty. I've not the time to analyze it right now, you may well be right over all, but leaving that part out makes for an incomplete argument.

And that came out really rude. I don't mean it that way, I just don't know how else to say it Cheesy

I think I understand the compounding issue, but it compounds both ways.  If you stake daily, the reward will not stake again for 30 days same as if you stake monthly. you just get the reward in smaller pieces.  This would not be true if the balance could begin earning interest instantly, which it cannot, it still must wait the 30 days.

This differs from compound interest, which earns interest on interest as it is earned.  There is no waiting period. So the compound thing works here but not for something that must wait for a month to be eligible.

Not sure I am being clear here, but the math works :-)

Then the difficulty argument factors in, and even if you could compound like interest, you would loose any advantage to difficulty.  It would still work better to stake monthly.
[/quote]

You may be right. When I have some time, I'll run the numbers and have a look. I think there's an advantage to fairly good size blocks staking daily or close to it, but I'm not certain. It would become clear after about sixty days, I think. I'm so freakin' busy right now that I can't do it, but it's certainly an interesting subject.

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February 22, 2016, 01:43:50 PM
 #5010


This is incomplete, as it fails to factor compounding. If you have it divided so you're staking every day, it is likely that your end total will be somewhat higher than the 200K, again, depending on difficulty. I've not the time to analyze it right now, you may well be right over all, but leaving that part out makes for an incomplete argument.

And that came out really rude. I don't mean it that way, I just don't know how else to say it Cheesy

I think I understand the compounding issue, but it compounds both ways.  If you stake daily, the reward will not stake again for 30 days same as if you stake monthly. you just get the reward in smaller pieces.  This would not be true if the balance could begin earning interest instantly, which it cannot, it still must wait the 30 days.

This differs from compound interest, which earns interest on interest as it is earned.  There is no waiting period. So the compound thing works here but not for something that must wait for a month to be eligible.

Not sure I am being clear here, but the math works :-)

Then the difficulty argument factors in, and even if you could compound like interest, you would loose any advantage to difficulty.  It would still work better to stake monthly.

You may be right. When I have some time, I'll run the numbers and have a look. I think there's an advantage to fairly good size blocks staking daily or close to it, but I'm not certain. It would become clear after about sixty days, I think. I'm so freakin' busy right now that I can't do it, but it's certainly an interesting subject.
[/quote]


You got me doubting myself, so I put together a spreadsheet and ran the numbers both ways. They came out the same.  The fact that stake only happens once per month on any wallet holding prevents daily compounding.

In the situation where you stake every day, each day is treated as a separate entity. each entity only stakes once every 30 days.  So day 2 stuff does not get to compound what happened on day one, etc.

The 'stake every 30 days' thing forces the situation into a simple interest formula. This prevents the compound thing from happening. (It compounds if you let your interest ride from month to month, but the amount is the same if you do it daily or all at once.)  (a*b+a*c+a*d) is the same as  a(b+c+d) where 'a' is the interest rate and 'b,c,d' are amounts you are staking for the respective days.

If you could stake your entire investment each day and earn interest but chose to only accept your interest once per month, we would have the compound difference you believe exists, but the nature of how the coin is designed to pay interest is the limiting factor.
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February 22, 2016, 08:41:21 PM
 #5011

TekCoin [TEK] is listed: https://yobit.net/en/trade/TEK/BTC
TekCoin Dice: https://yobit.net/en/dice/TEK



Code:
[url=https://yobit.net/en/trade/TEK/BTC][img]https://yobit.net/imginfo/TEK[/img][/url]

Donate TEK coins to our Giveaway: https://yobit.net/en/freecoins/

Please report about TEK update/fork/issue here: https://yobit.net/en/reportupdate/TEK
yeah good news, at least add a new trade to expand trade for the people of this thread, cheers

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February 23, 2016, 10:46:23 AM
 #5012

Hi!
I got in touch with the stock exchange livecoin.net about adding Tekcoin. I was told that a coin will add to the stock exchange, they will be asked if the developers.
support@livecoin.net
or PM  https://bitcointalk.org/index.php?action=pm;sa=send;u=462136
Who has a relationship with the developers, please let them know
Thanks!

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February 24, 2016, 12:44:07 AM
 #5013

Just wanted to take a minute to dispel some common myths I have been running into in the wonderful world of staking TEK.

The first: Several smaller stakes are better then 1 larger stake.  False.  Here is why:

Lets say you have 500,000 coin, divided up into equal monthly stake. 500,000 divided by 30 is 16,666.6666.

Lets assume you stake at 40% per month. So each day you would receive 16,666.6666 times 40% which is 6666.6666  So you would get 30 of these in a month for a total of: 200,000 coins.  This is in a perfect world, and well.... the world isn't perfect. More on this later.

So in the second case we have our staker with the same 500,000 coin, he has them all in one basket, and stakes once a month. He receives the same 40%.  So 500,000 times 40% is:  Wait for it...200,000 coins. Absolutely no difference. Simple laws of algebra.

Now what does make a difference is that our daily staker is at the mercy of difficulty.  In order to get his daily amount, he has to accept whatever the percentage is for that day.  Overall he (or she) is going to take a beating in lost stake due to difficulty.

Our monthly stake-miester on the other hand can play the waiting game.  When his pile of coin matures, if difficulty is low, the wallet is simply unlocked and Viola! Stake-a-mundo! Then he can coin-control everything into one address again, re-lock the wallet, and forget about things for a month.
But...IF difficulty is high, he simply waits until it drops to an acceptable level.  Since TEK pro-rates the stake after the 30 day mark, and up to 90 days, Monthly-Man has 2 months to play the waiting game with no penalty, and not have to invest his life into watching coin prices.

Our daily staker is contributing more to the difficulty madness due to more frequent staking, and he is arguably losing money to difficulty that he is partially responsible for.

Monthly-Man is not part of the difficulty problem, has more control, makes more money, and has his life back.

So....Why are you still staking daily?  Or worse.... Letting your wallet run amuck?  It costs you money, and all of us money in higher difficulty.  

Be a responsible TEK-head, use that coin-control and stake once a month.  You can thank me later!

Joebwan Kanobe

So after some back and forth with Biomech, I stand by the above.  I have tested the compounding theory, and... the Myth is BUSTED!
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February 24, 2016, 01:35:50 AM
 #5014

So with the compound staking myth dispelled, it leaves us with some interesting conclusions.
Try this one on for size: The TEKCON wallet is causing the micro-staking issue.  Whew! I said it, now let me explain:

When a pile of coins in your wallet is ready to stake, for a period of time while the staking is occurring, your balance subject to stake is not available while the whole magic happens behind the scenes. Then once everything is kosher, what re-appears in your wallet are 2 address, each equal to ½ of your original amount plus half stake. Cool eh?
Not so much if you were staking say.. .5 TEK.  If you received 40% on your half-a-TEK, you now have two wallet address, both with .35 TEK.  Let this ride for a while, and multiply the problem by thousands of folks with wallets, and hopefully you begin to get the picture.

Now for some good news: A hard fork to fix micro-staking may not be necessary.  We may be able to fix the whole issue with a.) education and b.) a wallet update.

In regards to the wallet update, if it could be modified such that the entire original balance plus the stake were deposited back into the original wallet address, this would help immensely.

I believe the community it's self can fix the issue if it chooses. Since we have shown that breaking your pile into several and staking daily has no financial advantage, if all the 'true believers' would take advantage of coin-control and just keep your coins in fewer piles, we could take care of the bulk of the problems ourselves.  Now that being said, there will always be bozos out there who refuse to be responsible and help the community at large.  That is were the proposed hard-fork would help out. Make it so balances under a particular size, say 5 TEK don't stake at all.

In the short term, I am not at all in favor of the hard fork.  (WHAT?Huh) Again, let me explain.  We just got our tushes kicked by Big Vern at Craptsy. Before the Craptastraphy, we had decent volume on the exchange for our coin. Now, many folk have left, others are waiting to see, so volume isn't where it should be yet.

I believe the Micro-staking issue is actually acting in our favor by preventing coin balances from causing run-away inflation.  You see, I believe originally the thought was that enough folks would buy in to the eco-mint idea, and with enough players world wide, the difficulty would rise naturally and inflation would take care of it's self.  As things are today, we have a smaller group of serious stakers, and lots of folks with small holding. (check out the rich list!) The small number of folks with large numbers of coins, myself included, would benefit from large staking each month.

With the numbers of folks interested in TEK still on the rather small side, It would be quite easy for a few of us top 10%er to crash the coin buy staking multi-millions of the little suckers then dumping them on the exchanges.  Value would plummet.  Far better that the difficulty is high due to micro-staking, and our earnings are curbed until more interest in the coin is generated.

Once the price begins to rise, more people will want the coin, then difficulty will rise further, and percentages will drop even more. That will be the time to address micro-staking, not now.

So as a community we have work cut out for us.  1. Trade the coin! Have fun with it, do some day trading to get volume up on the existing exchanges. This will help with getting noticed by a larger exchange. Hopefully you make a few bucks in the process.  2. Become mouthy in a good way. Chat up TEK on the exchanges, don't lie, but be enthusiastic.  Get the word out. 3. Coin-control your stake piles into fewer, larger piles. This will help with the difficulty. While we don't want difficulty to go away, we don't want it to stifle the coin either. 4. Keep voting on exchanges where we are not listed.  Our ultimate goal should be Bittrex and Polo, but they want to see enthusiastic support, and volume. We have neither right now, and wishing and hoping are not going to get us there. We need active community involvement.

I have more add later, please comment on this, I would love to have some feedback!
Joebwan.
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February 24, 2016, 02:22:23 AM
 #5015

So with the compound staking myth dispelled, it leaves us with some interesting conclusions.
Try this one on for size: The TEKCON wallet is causing the micro-staking issue.  Whew! I said it, now let me explain:

When a pile of coins in your wallet is ready to stake, for a period of time while the staking is occurring, your balance subject to stake is not available while the whole magic happens behind the scenes. Then once everything is kosher, what re-appears in your wallet are 2 address, each equal to ½ of your original amount plus half stake. Cool eh?
Not so much if you were staking say.. .5 TEK.  If you received 40% on your half-a-TEK, you now have two wallet address, both with .35 TEK.  Let this ride for a while, and multiply the problem by thousands of folks with wallets, and hopefully you begin to get the picture.

Now for some good news: A hard fork to fix micro-staking may not be necessary.  We may be able to fix the whole issue with a.) education and b.) a wallet update.

In regards to the wallet update, if it could be modified such that the entire original balance plus the stake were deposited back into the original wallet address, this would help immensely.

I believe the community it's self can fix the issue if it chooses. Since we have shown that breaking your pile into several and staking daily has no financial advantage, if all the 'true believers' would take advantage of coin-control and just keep your coins in fewer piles, we could take care of the bulk of the problems ourselves.  Now that being said, there will always be bozos out there who refuse to be responsible and help the community at large.  That is were the proposed hard-fork would help out. Make it so balances under a particular size, say 5 TEK don't stake at all.

In the short term, I am not at all in favor of the hard fork.  (WHAT?Huh) Again, let me explain.  We just got our tushes kicked by Big Vern at Craptsy. Before the Craptastraphy, we had decent volume on the exchange for our coin. Now, many folk have left, others are waiting to see, so volume isn't where it should be yet.

I believe the Micro-staking issue is actually acting in our favor by preventing coin balances from causing run-away inflation.  You see, I believe originally the thought was that enough folks would buy in to the eco-mint idea, and with enough players world wide, the difficulty would rise naturally and inflation would take care of it's self.  As things are today, we have a smaller group of serious stakers, and lots of folks with small holding. (check out the rich list!) The small number of folks with large numbers of coins, myself included, would benefit from large staking each month.

With the numbers of folks interested in TEK still on the rather small side, It would be quite easy for a few of us top 10%er to crash the coin buy staking multi-millions of the little suckers then dumping them on the exchanges.  Value would plummet.  Far better that the difficulty is high due to micro-staking, and our earnings are curbed until more interest in the coin is generated.

Once the price begins to rise, more people will want the coin, then difficulty will rise further, and percentages will drop even more. That will be the time to address micro-staking, not now.

So as a community we have work cut out for us.  1. Trade the coin! Have fun with it, do some day trading to get volume up on the existing exchanges. This will help with getting noticed by a larger exchange. Hopefully you make a few bucks in the process.  2. Become mouthy in a good way. Chat up TEK on the exchanges, don't lie, but be enthusiastic.  Get the word out. 3. Coin-control your stake piles into fewer, larger piles. This will help with the difficulty. While we don't want difficulty to go away, we don't want it to stifle the coin either. 4. Keep voting on exchanges where we are not listed.  Our ultimate goal should be Bittrex and Polo, but they want to see enthusiastic support, and volume. We have neither right now, and wishing and hoping are not going to get us there. We need active community involvement.

I have more add later, please comment on this, I would love to have some feedback!
Joebwan.

The wallet don't actually need updated for this. Just set the splitstakethreshold at whatever point you want (there is a max, and I don't recall what it its right now), and until you reach that large milestone, you don't need to worry. It won't split the stake.

If you got a fat wallet, you can either go with multiple blocks, OR you can just manually combine right after you stake. I think a script could be written for that real easy anyway. The API works just fine Cheesy

EDIT: a strategy for the impatient: Break your stash in to three blocks, approximately ten days apart. Then you don't have to wait so long Cheesy And it still reduces network traffic.

Buy Bitcoins with Paypal, Credit card, or other methods. Send me a PM or a text to 208-451-2665.
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February 24, 2016, 05:51:56 AM
 #5016

Someone contacted the developer thundertoe? Livecoin.net Exchange is ready to put a Tekcoin.

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February 24, 2016, 12:29:55 PM
 #5017

Someone contacted the developer thundertoe? Livecoin.net Exchange is ready to put a Tekcoin.
Tie dude on the front of your webpage is a bit creepy....Just say'n.
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February 24, 2016, 12:47:33 PM
 #5018



The wallet don't actually need updated for this. Just set the splitstakethreshold at whatever point you want (there is a max, and I don't recall what it its right now), and until you reach that large milestone, you don't need to worry. It won't split the stake.

If you got a fat wallet, you can either go with multiple blocks, OR you can just manually combine right after you stake. I think a script could be written for that real easy anyway. The API works just fine Cheesy

EDIT: a strategy for the impatient: Break your stash in to three blocks, approximately ten days apart. Then you don't have to wait so long Cheesy And it still reduces network traffic.

[/quote]

Is this something done from the console or an added line in some .config file?  I did a 'help' on console, but did not see anything about splitstake.

you know what would be helpful is if the default configuration of the wallet once downloaded already had this value set fairly high...

I can muddle through some of this stuff. I am not much of a command line guy. I can figure things out and get through it, but it does not come naturally for me. Unfortunately there are lots of GUI idiots like me, and if Altcoins and Bitcoin are the wave of the future, we need a bit of accommodation. For us uneducated, a button on the screen that said "set the split stake value" with a useful value already input would be of great value.
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February 24, 2016, 12:59:54 PM
 #5019

Add this line to tekcoin.conf:

Code:
splitthreshold=15000

or start TEK wallet with -splitthreshold=15000 option

It will keep blocks below 15000 from splitting.

I believe 15000 is the max, you can also set it to a lower amount.

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February 24, 2016, 07:17:20 PM
 #5020

Quote
Tie dude on the front of your webpage is a bit creepy....Just say'n.
This is not so important. You look at the functional exchange, Deposits and Withdrawals methods.
It is sad that the developer does not get in touch with them.
Someone contacted the developer thundertoe? Livecoin.net Exchange is ready to put a Tekcoin.

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