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Author Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico  (Read 438973 times)
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kiklo
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February 26, 2016, 06:09:56 AM
 #5041

This should be branded on to the forebrain of any coin developer. It's relatively easy to create a coin, took me less than a year to figure it out with minimal guidance and minimal time. Figuring out a use for it, that's a whole different animal.

I've suggested this before, and was even planning on doing it before my life got too crazy for any side projects, but I thought a bartering/auction site denominated in TEK would be a good idea. Special emphasis on technology products (and currency, of course  Cool ), but no restrictions on what could be marketed.

You actually already have that with https://www.cryptopia.co.nz/MarketPlace  ,

From there you can auction or just list items for sell.
And you can select Tek as the only currency for payment.  Smiley

 Cool
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February 26, 2016, 06:22:46 AM
 #5042

This should be branded on to the forebrain of any coin developer. It's relatively easy to create a coin, took me less than a year to figure it out with minimal guidance and minimal time. Figuring out a use for it, that's a whole different animal.

I've suggested this before, and was even planning on doing it before my life got too crazy for any side projects, but I thought a bartering/auction site denominated in TEK would be a good idea. Special emphasis on technology products (and currency, of course  Cool ), but no restrictions on what could be marketed.

You actually already have that with https://www.cryptopia.co.nz/MarketPlace  ,

From there you can auction or just list items for sell.
And you can select Tek as the only currency for payment.  Smiley

 Cool

I was unaware of that, and I trade there Tongue Tol' ya my life is crazy. That's actually something that should be advertised heavily.

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 26, 2016, 01:13:59 PM
 #5043

Another possible solution for micro-staking problem....

Create an updated wallet that has a messaging function built in and a chat function built in. Chat function like the verge wallet. The person or persons who are micro-staking may not be aware of what they are doing to cause harm to the system. With a messaging system we can alert them to make bigger blocks and stake less often. As an alternative to this idea build into the wallet a staking thermostat that turns staking off for that wallet if staking exceeds a certain rate. When the difficulty drops to certain acceptable level then staking can automatically turn on again.

My question is what happens if many micro-stakers join into the network. The system will completely bog down. We need to have some sort of throttling mechanism in place to prevent both intentional and unintentional micro-staking from occurring.

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February 26, 2016, 01:24:55 PM
 #5044

Another possible solution for micro-staking problem....

Create an updated wallet that has a messaging function built in and a chat function built in. Chat function like the verge wallet. The person or persons who are micro-staking may not be aware of what they are doing to cause harm to the system. With a messaging system we can alert them to make bigger blocks and stake less often. As an alternative to this idea build into the wallet a staking thermostat that turns staking off for that wallet if staking exceeds a certain rate. When the difficulty drops to certain acceptable level then staking can automatically turn on again.

My question is what happens if many micro-stakers join into the network. The system will completely bog down. We need to have some sort of throttling mechanism in place to prevent both intentional and unintentional micro-staking from occurring.

We need to be careful what we wish for. If all the existing coin started staking at 40% right now, when volume on the exchanges are low like they are, can you imagine what that would do to supply, and hence the price of TEK?  Lets get the price/volume up, get listed on a larger exchanges, then worry about the micro-staking issue.

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February 26, 2016, 05:43:20 PM
 #5045

Quote
We need to be careful what we wish for. If all the existing coin started staking at 40% right now, when volume on the exchanges are low like they are, can you imagine what that would do to supply, and hence the price of TEK?  Lets get the price/volume up, get listed on a larger exchanges, then worry about the micro-staking issue.

Yes I agree we do need to be careful what we wish for. That is always good advice to follow. In this case I believe that you have misread what I was wishing for and then made a false assumption based upon not fully understanding my intent.

My first point to make is that I am not asking for the system to be modified in such a way to grant everyone 40% interest. I am trying to expose that the system appears to have a flaw in the distribution process. This flaw is being exploited by one user and so that user is controlling the difficulty and causing an unfair distribution of coins. This whether you recognize it or not is a far greater threat to coin value than 40% interest again. I believe it was the intention of the designer of this crypto-coin to increase the difficulty if many people were participating in the system and staking increased. In this case the difficulty should increase to control inflation. That is fine and dandy but what a single user is now doing is that he or she is simulating hundreds of users with having many smaller blocks staking every minute. This is choking the system and causing an unfair distribution of the wealth. This is I am very sure not the intention of the designers of crypto-coins.

I know this because my wallet had done the same thing a while back. It was unintentional and when I was alerted to the problem by reading this forum I took prompt action to rectify the situation.

The throttling mechanism that I am suggesting is to help insure a fair distribution of wealth while at the same time allowing the difficulty to go up if many users join the system. One user should not be able to single handily dictate the difficulty of the entire system.

What if the user whom ever it is decides not to cooperate, then what. Worse yet what if others decide to do the same thing pretty soon the interest rate drops from 5% to 2% to .5% then TEK coins main attracting point as a high interest POS coin is no longer a valid claim. I think that the closure of this exploit loop hole should not be left to the hoped for good will and honesty of the users. It should be enforced by the network. It is best to always assume the worst case when humans and money are concerned.

Again my recommendation is to employ a throttling mechanism in the algorithm so that if a particular user is getting to many blocks that wallet is temporarily disabled for a time so that other users can have a fair chance at getting a block award.

Remember crypto currency is still in its infancy and is still experimental in nature. We have uncovered a defect in the system and so I believe we should react to the defect and repair it in order to keep the coin healthy.

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February 26, 2016, 06:02:00 PM
 #5046

Micro staking issue could largely be cleared up with a simple tweak rather than a fork.  If the default split & combine default thresholds were increased it would go a long way.  Many users do not use coin control let alone tweak settings through the console window so having the option to increase it isn't enough, the default value should be much higher.  The current max user setting is 15,000.  A default of 5,000 or 10,000 would prevent a lot of new wallets from ever getting messy.
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February 26, 2016, 06:20:26 PM
 #5047

Micro staking issue could largely be cleared up with a simple tweak rather than a fork.  If the default split & combine default thresholds were increased it would go a long way.  Many users do not use coin control let alone tweak settings through the console window so having the option to increase it isn't enough, the default value should be much higher.  The current max user setting is 15,000.  A default of 5,000 or 10,000 would prevent a lot of new wallets from ever getting messy.
No you need a fork, or they could simply keep using the old version and micro stake again.
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February 26, 2016, 08:11:09 PM
 #5048

Micro staking issue could largely be cleared up with a simple tweak rather than a fork.  If the default split & combine default thresholds were increased it would go a long way.  Many users do not use coin control let alone tweak settings through the console window so having the option to increase it isn't enough, the default value should be much higher.  The current max user setting is 15,000.  A default of 5,000 or 10,000 would prevent a lot of new wallets from ever getting messy.
No you need a fork, or they could simply keep using the old version and micro stake again.
Some might do that, most won't...problem potentially largely cleaned up without the risk and pain in the ass an actual fork brings.  If it doesn't work and people actually think its that big of an issue then go for a fork. 

And remember some micro stakers keeping the difficulty up are not a bad thing depending on the point of view...network security has its benefits.
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February 26, 2016, 08:48:34 PM
 #5049

Micro staking issue could largely be cleared up with a simple tweak rather than a fork.  If the default split & combine default thresholds were increased it would go a long way.  Many users do not use coin control let alone tweak settings through the console window so having the option to increase it isn't enough, the default value should be much higher.  The current max user setting is 15,000.  A default of 5,000 or 10,000 would prevent a lot of new wallets from ever getting messy.
No you need a fork, or they could simply keep using the old version and micro stake again.
Some might do that, most won't...problem potentially largely cleaned up without the risk and pain in the ass an actual fork brings.  If it doesn't work and people actually think its that big of an issue then go for a fork. 

And remember some micro stakers keeping the difficulty up are not a bad thing depending on the point of view...network security has its benefits.
There is something you do not understand. The person/people is doing it on purpose to keep diff high.
Thus why we need a hard fork to force them to update.
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February 26, 2016, 09:03:17 PM
 #5050

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

i sent them a pm
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February 26, 2016, 10:22:52 PM
 #5051

Quote
There is something you do not understand. The person/people is doing it on purpose to keep diff high.
Thus why we need a hard fork to force them to update.

Yes I agree I can see no other way unfortunately. I also think a mandatory higher splitthreshold setting would also be of benefit as well. These tweaks will make the coin network stronger. I don't see how we can avoid a fork because of the good point Judge Dredd makes. The users who want to exploit the system will just continue to use the old wallet otherwise.

We should get all these things worked out then we can go about the marketing aspect for this coin. What is needed is a person to contact website owners and negotiate the installation of the Tekcoin software that can be used to purchase items on their website. We don't sell it to them we give it to them in order to make it a painless experience for the website vendors. They will have a win, win situation. They open up another avenue to sell their wares and it does not cost them anything to do so. We need thousands of sites offering Tekcoin purchase option. When this happens Tekcoin growth will expand exponentially. Everybody wins.

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February 27, 2016, 02:03:57 AM
 #5052

Why not just cut-off older wallet versions? Then probably not need a hard fork.
Other coins have done that, with newer wallet versions. Just a thought.
By the way noise23 computer got hacked, as he did code some of the TEK wallets.
Got Truck coin wallets priv key info. Had to suspend trading at Trex and Cryptopia.
Until a hard fork and new wallets installed. Keep an eye on your wallets for any suspicious activity!

Peace, Dennis

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February 27, 2016, 03:13:27 AM
 #5053


/quote My first point to make is that I am not asking for the system to be modified in such a way to grant everyone 40% interest. I am trying to expose that the system appears to have a flaw in the distribution process. This flaw is being exploited by one user and so that user is controlling the difficulty and causing an unfair distribution of coins. This whether you recognize it or not is a far greater threat to coin value than 40% interest again. I believe it was the intention of the designer of this crypto-coin to increase the difficulty if many people were participating in the system and staking increased. In this case the difficulty should increase to control inflation. That is fine and dandy but what a single user is now doing is that he or she is simulating hundreds of users with having many smaller blocks staking every minute. This is choking the system and causing an unfair distribution of the wealth. This is I am very sure not the intention of the designers of crypto-coins. /quote

If we are sure this is being caused by one or even a few folks who are intentionally trying to manipulate difficulty, Then absolutely, we need to address the issue. Even if it means a hard fork.

But if the issue is being caused by ignorant or lazy folks who are not combining and/or don't know to coin control their stakes, then the issue is quite different. Educate, maybe some preventative measures. Calm and cool.

Do we have information that leads to the conclusion that a single individual or group is maliciously effecting the difficulty? If so, lock and load! lets get the bastard(s)!

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February 27, 2016, 03:21:42 AM
 #5054


/quote My first point to make is that I am not asking for the system to be modified in such a way to grant everyone 40% interest. I am trying to expose that the system appears to have a flaw in the distribution process. This flaw is being exploited by one user and so that user is controlling the difficulty and causing an unfair distribution of coins. This whether you recognize it or not is a far greater threat to coin value than 40% interest again. I believe it was the intention of the designer of this crypto-coin to increase the difficulty if many people were participating in the system and staking increased. In this case the difficulty should increase to control inflation. That is fine and dandy but what a single user is now doing is that he or she is simulating hundreds of users with having many smaller blocks staking every minute. This is choking the system and causing an unfair distribution of the wealth. This is I am very sure not the intention of the designers of crypto-coins. /quote

If we are sure this is being caused by one or even a few folks who are intentionally trying to manipulate difficulty, Then absolutely, we need to address the issue. Even if it means a hard fork.

But if the issue is being caused by ignorant or lazy folks who are not combining and/or don't know to coin control their stakes, then the issue is quite different. Educate, maybe some preventative measures. Calm and cool.

Do we have information that leads to the conclusion that a single individual or group is maliciously effecting the difficulty? If so, lock and load! lets get the bastard(s)!

Another solution could be to just join them and use the features that are part of the coin to even things out for everyone.

If we all put coins into smaller chunks and keep the wallet always open to support the network he/she will gain no advantage.

Smaller chunks would keep diff high and give a better average overall.

The coin was built this way, so why fight it when we can roll with it.

No one would have any advantage and the total supply would be slowed for everyone.

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February 27, 2016, 03:36:52 AM
 #5055


/quote My first point to make is that I am not asking for the system to be modified in such a way to grant everyone 40% interest. I am trying to expose that the system appears to have a flaw in the distribution process. This flaw is being exploited by one user and so that user is controlling the difficulty and causing an unfair distribution of coins. This whether you recognize it or not is a far greater threat to coin value than 40% interest again. I believe it was the intention of the designer of this crypto-coin to increase the difficulty if many people were participating in the system and staking increased. In this case the difficulty should increase to control inflation. That is fine and dandy but what a single user is now doing is that he or she is simulating hundreds of users with having many smaller blocks staking every minute. This is choking the system and causing an unfair distribution of the wealth. This is I am very sure not the intention of the designers of crypto-coins. /quote

If we are sure this is being caused by one or even a few folks who are intentionally trying to manipulate difficulty, Then absolutely, we need to address the issue. Even if it means a hard fork.

But if the issue is being caused by ignorant or lazy folks who are not combining and/or don't know to coin control their stakes, then the issue is quite different. Educate, maybe some preventative measures. Calm and cool.

Do we have information that leads to the conclusion that a single individual or group is maliciously effecting the difficulty? If so, lock and load! lets get the bastard(s)!

Another solution could be to just join them and use the features that are part of the coin to even things out for everyone.

If we all put coins into smaller chunks and keep the wallet always open to support the network he/she will gain no advantage.

Smaller chunks would keep diff high and give a better average overall.

The coin was built this way, so why fight it when we can roll with it.

No one would have any advantage and the total supply would be slowed for everyone.

Im cool with the difficulty remaining high.  As I already pointed out, runaway inflation would be bad for the coin. I would even be in favor of lowering the interest rate. What I don't like is the idea of someone exploiting the coin. If there are flaws that need to addressed to prevent someone from manipulating things, now would be a good time to so address.

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mmfiore
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February 27, 2016, 04:51:28 AM
 #5056

I think that the coin will always remain vulnerable to attack as long as this possibility exists. For Example some one on the Verge network has also discovered a vulnerability in that system as well. They have been for the last few days renting a huge hashing amount from one of the hash rental sites. They then attack Verge by hashing at 330 ghs this effectively shuts down the network for hours as the difficulty gets so high that the network does not award another block for more than 8 hours. Today they rented 550ghz and froze the network again. When this happens no one can do anything until the next award which is hours later. Wallets won't sync you can't send or receive coins its a real mess. You wind up hashing for hours and get no coins. This causes people to leave the network and switch to another coin and that makes the problem even worse. They will have to fix that somehow or people are going to abandon Verge.

We can try a wait and see strategy but I do not think that will work. Eventually if we decide to all split coins blocks and micro stake the network will eventually grind to a halt and our wallets will bog down our PCs as the Tekcoin wallet becomes unstable when it gets bloated. It starts spitting out large amounts of orphans.

If this is not fixed people will eventually get fed up and sell their coins and the value will plummet. I do not believe the ostrich approach will serve us well. If we choose to fight fire with fire and all decide to micro-stake all we will succeed in doing is burning down our own house.

I would like to hear from the developers and get their analysis on this. Maybe I am wrong but the staking system seems to me to be adversely affected by something over the last couple of weeks.

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ntsdm
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February 27, 2016, 05:40:08 PM
 #5057

No big volume for now on yobit
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February 27, 2016, 06:26:12 PM
 #5058

No big volume for now on yobit

tek on yobit now eh? maybe no volume but the 363636 thing is cute.  me, i like to do the pi thing...3.141592.
 im easily amused i guess....

Bitcoin...the future of all monetary transactions...and always will be
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February 27, 2016, 09:44:35 PM
 #5059

I noticed the tekcoin Bootstrap on the OP was from 12/05/2014 .

Anyone that needs it can get a Current Tekcoin Bootstrap.dat (dated 2016-2-27) from my new bootstrap service at
https://bitcointalk.org/index.php?topic=1378653.msg14024451#msg14024451

It is stored in a Rar format so it is less than half the size of a zip file.  Smiley
This Bootstrap service is basically free, we would appreciate it if the people running the OPs would place a link to us , that frees them from the tedious work of keeping a bootstrap updated where they can focus their time on more important matters, and in exchange we will update their Bootstrap on a monthly basis.


 Cool
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Crypto-Games.net: Multiple coins, multiple games


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February 27, 2016, 10:28:02 PM
 #5060

I noticed the tekcoin Bootstrap on the OP was from 12/05/2014 .

Anyone that needs it can get a Current Tekcoin Bootstrap.dat (dated 2016-2-27) from my new bootstrap service at
https://bitcointalk.org/index.php?topic=1378653.msg14024451#msg14024451

It is stored in a Rar format so it is less than half the size of a zip file.  Smiley
This Bootstrap service is basically free, we would appreciate it if the people running the OPs would place a link to us , that frees them from the tedious work of keeping a bootstrap updated where they can focus their time on more important matters, and in exchange we will update their Bootstrap on a monthly basis.


 Cool

Nice. This is really a great idea for faster sync of the TEK wallet. (and other PoS coins too) I love it since it provides an up to date list of most popular PoS coins blockchain data. I will bookmark this thread to check it regularly for updates.  Cheesy

 

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