[TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico

[dickwhite]

Check your coin weight.
If you haven't already, enable coin control. Choose Settings > Options in the menu bar and click Display tab in the next open window. Check the display coin control features box and OK to close window. Now choose Send coins tab and you will see a new coin control button just below. Click on that and a new window will open with all info about your coin blocks including weight. Coin blocks that are eligible to stake will have acquired weight, and depending on the network difficulty may take time to stake. Also, check to make sure your coin blocks have many confirmations. If not, they won't stake until you repair the wallet.

Thanks for that info, coin control says my coins only have 29.819 coin age. Wont be long now for me to start gaining weight.

Exciting, isn't it?
I want to add that you can maximize your stake rewards by waiting for low network difficulty. Waiting doesn't really hurt you because coin weight will continue to grow adding to your total when you finally do stake. Just don't wait over 90 days. (I believe that's when coins stop gaining weight.) Here's how to check difficulty:
In the menu bar, choose Help > Debug  window and choose Console tab in the new window. In the input box below, type getdifficulty and <enter> and the POS/POW difficulty will be displayed like this:

"proof-of-work" : 1378.28244429,
"proof-of-stake" : 0.00390625,

That POS difficulty now is moderately high, for TEK, which will result in a diminished percentage reward as per NVCS. For the full +40%, it would need to be around 0.00006000. To compare, I stake Novacoin as well and it's difficulty now is 1.243 giving a mere 29% per year! Hyperstake can sometimes hit 20, making it near impossible to stake smaller blocks. Overall, I find TEK a consistent, fun staking coin offering  excellent returns. It just requires some patience. Cheers.

[coinhugger]

Check your coin weight.
If you haven't already, enable coin control. Choose Settings > Options in the menu bar and click Display tab in the next open window. Check the display coin control features box and OK to close window. Now choose Send coins tab and you will see a new coin control button just below. Click on that and a new window will open with all info about your coin blocks including weight. Coin blocks that are eligible to stake will have acquired weight, and depending on the network difficulty may take time to stake. Also, check to make sure your coin blocks have many confirmations. If not, they won't stake until you repair the wallet.

Thanks for that info, coin control says my coins only have 29.819 coin age. Wont be long now for me to start gaining weight.

Exciting, isn't it?
I want to add that you can maximize your stake rewards by waiting for low network difficulty. Waiting doesn't really hurt you because coin weight will continue to grow adding to your total when you finally do stake. Just don't wait over 90 days. (I believe that's when coins stop gaining weight.) Here's how to check difficulty:
In the menu bar, choose Help > Debug  window and choose Console tab in the new window. In the input box below, type getdifficulty and <enter> and the POS/POW difficulty will be displayed like this:

"proof-of-work" : 1378.28244429,
"proof-of-stake" : 0.00390625,

That POS difficulty now is moderately high, for TEK, which will result in a diminished percentage reward as per NVCS. For the full +40%, it would need to be around 0.00006000. To compare, I stake Novacoin as well and it's difficulty now is 1.243 giving a mere 29% per year! Hyperstake can sometimes hit 20, making it near impossible to stake smaller blocks. Overall, I find TEK a consistent, fun staking coin offering  excellent returns. It just requires some patience. Cheers.

@dickwhite Hi, how exactly can I make my coins 'wait' until the network difficulty is lower?  Thanks.

[gribgo]

@dickwhite Hi, how exactly can I make my coins 'wait' until the network difficulty is lower?  Thanks.

just encrypt it and it will be locked, then unlock when ready to stake

go to wallet -> Wallet -> Encrypt Wallet

//you can check difficulty via wallet -> Wallet-> Help -> Debug window -> Console -> getdifficulty

peace

[vegasguy]

If anyone wants a large batch of tek I just listed 8000 Tek on Cryptsy for .2 BTC

Vegas

[clockuniverse]

I got my first stake yesterday!  Pretty happy about that, but I had a question.
I had 5k coins in one transaction that staked.  It split the transaction into two 3.1k deposits (after staking).  Why did it split it in two?
Also when I send coins to someone will it pick the youngest coins first?
Thanks ahead of time!

[thundertoe]

I got my first stake yesterday!  Pretty happy about that, but I had a question.
I had 5k coins in one transaction that staked.  It split the transaction into two 3.1k deposits (after staking).  Why did it split it in two?
Also when I send coins to someone will it pick the youngest coins first?
Thanks ahead of time!

the splitting is normal, you can use coin control to recombine them if you want. select the blocks using coin control and then send to yourself. Yes the default settings will pick the youngest coins to send out. Using coin control you can pick and choose. To enable coin control. Choose Settings > Options in the menu bar and click Display tab in the next open window. Check the display coin control features box and OK to close window. Now choose Send coins tab and you will see a new coin control button just below. Click on that and a new window will open with all info about your coin blocks including weight.

[clockuniverse]

Why does it do that?  I guess that was my main question.  Why?  Why not deposit it in one big chunk again, so lets say in my case, it would have just redeposited 6.2k worth of coins?

[crypto_chellie]

It would be nice to see a combine/split threshold added to the stake option.     

[dickwhite]

Why does it do that?  I guess that was my main question.  Why?  Why not deposit it in one big chunk again, so lets say in my case, it would have just redeposited 6.2k worth of coins?

It's something inherited from PPC code. From the HBN wiki:
After a successful stake, the coins will be split into two blocks. If an HBN block stakes it will be destroyed and the wallet will be given two equal sized blocks containing the stake reward and the split the original coin count. A likely staking scenario would be a 1,000 HBN block that stakes on day ten and turns into two blocks of 510 HBN. The coin age cycle restarts after staking and the two new blocks will be ready to stake in another 10+ days.

Not sure what the original thinking was, but it does create more blocks competing for stake, thus raising difficulty and technically increasing network security. But some coins can auto split/combine/optimize blocks, so it's not the gospel. It may be something worth changing in a future update.

[thundertoe]

somebody asked about staking online and i found out we have another online service for staking http://www.stakeminers.com/ to go with www.stakemybit.com

[Ense04]

How do I fix a BlockIndex.dat error when trying to connect with the windows wallet?

[vegasguy]

How do I fix a BlockIndex.dat error when trying to connect with the windows wallet?

If your in windows:

1. go into your roaming folder (hidden), then find tekcoin folder.
2. Delete ALL files except "wallet.dat"
reopen tekcoin wallet.

Vegas

More info on my website dedicated to high pos and a good article on tekcoin, and its awesome power:

http://bitcoinlasvegas.net/ohh-how-i-love-me-some-tekcoin-tekcoin-poka-proof-of-kicking-ass/

This is whats possible. This is just POS rewards 24/7!



Vegas

[crazyivan]

I got my first stake yesterday!  Pretty happy about that, but I had a question.
I had 5k coins in one transaction that staked.  It split the transaction into two 3.1k deposits (after staking).  Why did it split it in two?
Also when I send coins to someone will it pick the youngest coins first?
Thanks ahead of time!

the splitting is normal, you can use coin control to recombine them if you want. select the blocks using coin control and then send to yourself. Yes the default settings will pick the youngest coins to send out. Using coin control you can pick and choose. To enable coin control. Choose Settings > Options in the menu bar and click Display tab in the next open window. Check the display coin control features box and OK to close window. Now choose Send coins tab and you will see a new coin control button just below. Click on that and a new window will open with all info about your coin blocks including weight.

Wait, wait. Do we need to recombine our blocks? Larger piles should stake more successfully, in theory. Shouldn't wallet do the work of the most optimal splitting and combing by itself?
I guess my question is, do we need play with the wallet or the best option s to let it open and staking?

[thundertoe]

you can see from the above post he was staking blocks of 1 tekcoin without issue. there may be some advantage to larger blocks staking faster, however you keep earning stake coinage until the blocks mints. longer wait will pay you for more hours. I am not sure what is really the optimal strategy and it may even vary from user to user.

 I like to stake 1-2 larger blocks a day myself, just worked out that way for a few reasons for me.

i like to use the console command to shut off staking reservebalance true 100000000 (some large number). Then i will use getinfo and watch the pos diff and hopefully it comes down to around .0000x (40%) currently it looks like .0011 (20%?). When i choose to mint i enter reservebalance false and it will stake.

Last month i held off for 5 days staking during a diff spike.. but earned 5 more days of coinage when i turned it on, imagine now though the market was going crazy and you want to sell, do you break coinage? this is why i like to try and keep a sort of even daily amount staking, it lets me access fresh coins often without killing coinage.

[crazyivan]

you can see from the above post he was staking blocks of 1 tekcoin without issue. there may be some advantage to larger blocks staking faster, however you keep earning stake coinage until the blocks mints. longer wait will pay you for more hours. I am not sure what is really the optimal strategy and it may even vary from user to user.

 I like to stake 1-2 larger blocks a day myself, just worked out that way for a few reasons for me.

i like to use the console command to shut off staking reservebalance=true 100000000 (some large number). Then i will use getinfo and watch the pos diff and hopefully it comes down to around .0000x (40%) currently it looks like .0011 (20%?). When i choose to mint i enter reservebalance=false and it will stake.

Last month i held off for 5 days staking during a diff spike.. but earned 5 more days of coinage when i turned it on, imagine now though the market was going crazy and you want to sell, do you break coinage? this is why i like to try and keep a sort of even daily amount staking, it lets me access fresh coins often without killing coinage.

So you do merge block to get larger block, right? If you get lots of smaller block, you merge them until they mint?

[dickwhite]

So you do merge block to get larger block, right? If you get lots of smaller block, you merge them until they mint?

It took some time but, yes, I merged small blocks to big ones and do so when they stake for several reasons:
- Because TEK has no min stake reward, blocks can be as big as you want and still get max stake. 30 day maturity also allows me to shut down the wallet for extended periods -- not so great for the network, though.
- Big blocks gain weight fast, which equals quick staking.
- I like to watch difficulty for max percentage reward. It is easier with big blocks as there are fewer of them. Why not just one huge block? If I delay a block from staking, I will earn more coins but lose on compounding. I think on average I delay only half my big blocks. YMMV.
- Many small blocks will raise difficulty, giving you less reward.
- Many small blocks demand more resources from your computer.
- Security wise, I think my strategy is safer since I only unlock my wallet a short time to stake as opposed to leaving it open 24/7. (We really need unlock for POS only GUI toggle.)
- I feel like a stud with big blocks. 

Seriously, it's just my strategy. You do whatever works for you. Cheers.

[ryanb]

So you do merge block to get larger block, right? If you get lots of smaller block, you merge them until they mint?

It took some time but, yes, I merged small blocks to big ones and do so when they stake for several reasons:
- Because TEK has no min stake reward, blocks can be as big as you want and still get max stake. 30 day maturity also allows me to shut down the wallet for extended periods -- not so great for the network, though.
- Big blocks gain weight fast, which equals quick staking.
- I like to watch difficulty for max percentage reward. It is easier with big blocks as there are fewer of them. Why not just one huge block? If I delay a block from staking, I will earn more coins but lose on compounding. I think on average I delay only half my big blocks. YMMV.
- Many small blocks will raise difficulty, giving you less reward.
- Many small blocks demand more resources from your computer.
- Security wise, I think my strategy is safer since I only unlock my wallet a short time to stake as opposed to leaving it open 24/7. (We really need unlock for POS only GUI toggle.)
- I feel like a stud with big blocks. 

Seriously, it's just my strategy. You do whatever works for you. Cheers.

I had one big block before, but then I noticed it cause the market to drop a lot if I want to dump part of my stake. So I decided to split my entire big block so I will have a stake on daily basis.

[vegasguy]

For those of you that dont know.. Tek spiked all the way to 6000+ Sat a few hours ago, and settled at 3300+ sat. I wrote an article explaining the rise in price.

http://bitcoinlasvegas.net/the-hijacking-of-tekcoin-tek-and-a-lesson-on-getting-the-most-coins-with-least-difficulty/

Vegas

[vancefox]

Crapsy has TEK in maintenance mode... I have 400 coins hovering above the black hole...

[ryanb]

Crapsy has TEK in maintenance mode... I have 400 coins hovering above the black hole...

Same here.
They are probably staking our coins lol