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

[johan11]

And what about the block management - divided into smaller after POS, a new version of wallet, which will divide the blocks up from 10,000? This will reduce the difficulty. More larger blocks - smaller diff. 

[1713884409]

1713884409

[gribgo]

Also it is not good that bigger wallet can affect everyone.. then its rich are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

P.S. And MAX reward shall not be set!!!! Amen

[MotherFudster]

Also it is not good that bigger wallet can affect everyone.. then its richer are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

[gribgo]

Also it is not good that bigger wallet can affect everyone.. then its richer are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

Well!! Our little crypto-coin experiment shows that all of this is wrong and can be fixed!

[solarion]

Also it is not good that bigger wallet can affect everyone.. then its richer are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

Well!! Our little crypto-coin experiment shows that all of this is wrong and can be fixed!

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

[thundertoe]

Also it is not good that bigger wallet can affect everyone.. then its richer are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

Well!! Our little crypto-coin experiment shows that all of this is wrong and can be fixed!

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

great post, definitely a risk of making things worse overall with any changes. We are coming up on 2 years old Tek birthday and things are going great for 2015 we must tread carefully.

[mullick]

I just want to confirm this is not cryptsy that is staking

Currently we are not staking any tekcoin

The storage wallet is offline

And the hot wallet hasnt staked a block in

"confirmations" : 92146,

I have given more info to blunder to prove this. But I dont want to make most of that info public

[Coinmin]

......
As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

Ofcourse they are. Quote from another high POS coin thread:

I think craptsy now staking our supercoins. Does anybody knows craptsy super wallet address?

cryptsy does stake the PoS coins they have as traiding pairs. ive had a staff member tell me they do. its not a secret. i also am getting no response from thier support team when i have asked further questions about the wallet maintenance

It's incredible, unethical, but true. Currently craptsy receives more than 90% of profits from all TEK coins. Therefore, it is beneficial for him to keep the coins in small blocks. The only way to solve the problem described above (very smart guy BTW):

People.. Just take your coins out of Cryptsys wallet for 5-10 min and then put them back to Cryptsy and open your TEK sell orders back at the same price they were opened before// It should reset coins age at Cryptsy wallet.. we will see if it helps

Guys and gals, do not keep high POS coins on exchanges!!!

[solarion]

Guys and gals, do not keep high POS coins on exchanges!!!

You'd think this part would be a no-brainer that would go without saying...but it's clearly not when you look over the order book.

Coming up on two years for TeK, supply is 21.277m coins and it's getting increasingly difficult to create more. Where's the problem? 14.35m Bitcoin in circulation and it's exponentially more difficult to mine them. It seems to be working out okay for grandpa Bitcoin.

[mullick]

......
As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

Ofcourse they are. Quote from another high POS coin thread:

I think craptsy now staking our supercoins. Does anybody knows craptsy super wallet address?

cryptsy does stake the PoS coins they have as traiding pairs. ive had a staff member tell me they do. its not a secret. i also am getting no response from thier support team when i have asked further questions about the wallet maintenance

It's incredible, unethical, but true. Currently craptsy receives more than 90% of profits from all TEK coins. Therefore, it is beneficial for him to keep the coins in small blocks. The only way to solve the problem described above (very smart guy BTW):

People.. Just take your coins out of Cryptsys wallet for 5-10 min and then put them back to Cryptsy and open your TEK sell orders back at the same price they were opened before// It should reset coins age at Cryptsy wallet.. we will see if it helps

Guys and gals, do not keep high POS coins on exchanges!!!

Conspiracy theories  

We openly tell people we stake because if we said no that would be a lie

Occasionally we stake a few blocks either by mistake (missing config option) or when the offline wallets are brought online to fill the hot wallets

In the past we have tried staking to secure the network. Such as reddcoin which had a network security problem before switching to POS. But that was short lived as the community was obviously against it.

We don't stake for profit and don't actively try to stake any coin at cryptsy right now.

We believe keeping the market alive is far more profitable than dumping on the market with coins generated by our customers deposits.

Lastly if you read my post above we currently are not staking any tek on cryptsy.

We are only actively staking one coin right now and thats because the developer requested we do as the blockchain had stalled. I tried to find the message to remember which coin but i could not find it. Ill look more later.

[presstab]

Conspiracy theories  

We openly tell people we stake because if we said no that would be a lie

Occasionally we stake a few blocks either by mistake (missing config option) or when the offline wallets are brought online to fill the hot wallets

In the past we have tried staking to secure the network. Such as reddcoin which had a network security problem before switching to POS. But that was short lived as the community was obviously against it.

We don't stake for profit and don't actively try to stake any coin at cryptsy right now.

We believe keeping the market alive is far more profitable than dumping on the market with coins generated by our customers deposits.

Lastly if you read my post above we currently are not staking any tek on cryptsy.

We are only actively staking one coin right now and thats because the developer requested we do as the blockchain had stalled. I tried to find the message to remember which coin but i could not find it. Ill look more later.

How about a confirmation of which addresses are Cryptsys?

[gribgo]

Also it is not good that bigger wallet can affect everyone.. then its richer are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

Well!! Our little crypto-coin experiment shows that all of this is wrong and can be fixed!

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

great post, definitely a risk of making things worse overall with any changes. We are coming up on 2 years old Tek birthday and things are going great for 2015 we must tread carefully.

What about the speed of how the difficulty drops? ANd I agree that there is risk, but lets just talk about options as the coin is for community, but not community is for the coin.

[mullick]

Conspiracy theories  

We openly tell people we stake because if we said no that would be a lie

Occasionally we stake a few blocks either by mistake (missing config option) or when the offline wallets are brought online to fill the hot wallets

In the past we have tried staking to secure the network. Such as reddcoin which had a network security problem before switching to POS. But that was short lived as the community was obviously against it.

We don't stake for profit and don't actively try to stake any coin at cryptsy right now.

We believe keeping the market alive is far more profitable than dumping on the market with coins generated by our customers deposits.

Lastly if you read my post above we currently are not staking any tek on cryptsy.

We are only actively staking one coin right now and thats because the developer requested we do as the blockchain had stalled. I tried to find the message to remember which coin but i could not find it. Ill look more later.

How about a confirmation of which addresses are Cryptsys?

Storage?

From the hot I send here

BbkFQMz4kAXtGzSEcNua318tNAMbKvxiZ1

Currently those funds sit here after filling the wallet a few times

BdAWPXcvD66XU9mohPzRmLqatywGMsZHSz

BfE2Aa5STVvoaqTWHF67ySK7DWEUNBdg8U

[dickwhite]

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

Well said. Couldn't agree more.
We all got in knowing TEK has NVCS for inflation control. And it works. Believe it or not, high difficulty is a good thing. It means many are participating despite the diminishing rewards. The increasing price speaks for itself.
I think the best thing to do, besides periodic wallet updates, is do nothing to the protocol.  Serious investors expect stability from a 2-year-old coin. Changing it willy-nilly is the fastest way to destroy confidence.
If anything, we need to focus on getting another exchange, and preferably one with more volume than Cryptsy.

[solarion]

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

Well said. Couldn't agree more.
We all got in knowing TEK has NVCS for inflation control. And it works. Believe it or not, high difficulty is a good thing. It means many are participating despite the diminishing rewards. The increasing price speaks for itself.
I think the best thing to do, besides periodic wallet updates, is do nothing to the protocol.  Serious investors expect stability from a 2-year-old coin. Changing it willy-nilly is the fastest way to destroy confidence.
If anything, we need to focus on getting another exchange, and preferably one with more volume than Cryptsy.

Likewise. Well said.

I believe, as I mentioned previously, we should be targeting Cryptopia. If voting alone isn't going to get it done(and it's not) then perhaps we should consider crowd funding a dot pool to buy our way in. Having another exchange in case cryptsy goes down again would be a good safeguard. Being on another exchange that also gives TeK a LTC pairing would be deluxe imo.

[thefix]

You could make an option for wallets over say 10000 coins to get a portion of all coins staked on the network.

This would essentially make any small wallets staking on exchanges share what they stake with a majority of coin holders.

[gribgo]

My point is - our coin is NOT what it used to be for all its life.. as we had well known figures in the formula when we plan our budgets.
Amount of coins, intrest rate, age... before this days everyone had chance to stake at 40% rate (0.0000x diff)
Now for the first time it looks like we are going to have the coin that is different from what is described at the Official Page.. its not High POS any more and that can drive people away from the coin!
We have to think NOT only about market conditions, but also the coin must perform the same way all the time so you can count on it (easy rules i.e. 40% at 30+ days) Now we have unknown Super Low Stake rate
If you want ~2% rate - go to hobonickles
If you want all your coin compressed to 100000hyp blocks to get 1000.. then go buy HYP
But this 40% is the main feature of the tekcoin and that what drives the demand... this mining is power efficient etc.
It is stupid to just cut the supply of the coin which main feature is something that can be promoted as the Virtual Mining contracts with constant outcome
peace

P|S why we must stay with something that novacoin has ? Perhaps// is this true that we have 95% diff rise because of ONE adress?
If this is the case, then it is bad for the coin? for all 95% of its users.. and we must take action if we see something wrong, so that we dont get into the same trabble in the future!

[solarion]

My point is - our coin is NOT what it used to be for all its life.. as we had well known figures in the formula when we plan our budgets.
Amount of coins, intrest rate, age... before this days everyone had chance to stake at 40% rate (0.0000x diff)
Now for the first time it looks like we are going to have the coin that is different from what is described at the Official Page.. its not High POS any more and that can drive people away from the coin!
We have to think NOT only about market conditions, but also the coin must perform the same way all the time so you can count on it (easy rules i.e. 40% at 30+ days) Now we have unknown Super Low Stake rate
If you want ~2% rate - go to hobonickles
If you want all your coin compressed to 100000hyp blocks to get 1000.. then go buy HYP
But this 40% is the main feature of the tekcoin and that what drives the demand... this mining is power efficient etc.
It is stupid to just cut the supply of the coin which main feature is something that can be promoted as the Virtual Mining contracts with constant outcome
peace

P|S why we must stay with something that novacoin has ? Perhaps// is this true that we have 95% diff rise because of ONE adress?
If this is the case, then it is bad for the coin? for all 95% of its users.. and we must take action if we see something wrong, so that we dont get into the same trabble in the future!

Really think you're making a mountain out of a mole hill here. The APY on TeK is STILL hovering right around 200%. My most recent HBN stakes have been right around 84% APY. This is happening while the price of these two excellent coins have been moving in opposite directions. To me that says leave TeK alone and buy HBN...it's undervalued, but that's just me.

There's nothing wrong with TeK, it's just evolving. It remains one of the highest yielding, oldest, well established hybrid coins out there. TeK is 87th in market cap, which is where free market forces have placed it. What would be served by overriding the inflation controls and tanking the value?

[ryanb]

TEK is performing well, there is no need in fixing anything. Great coin and community.

[Biomech]

My point is - our coin is NOT what it used to be for all its life.. as we had well known figures in the formula when we plan our budgets.
Amount of coins, intrest rate, age... before this days everyone had chance to stake at 40% rate (0.0000x diff)
Now for the first time it looks like we are going to have the coin that is different from what is described at the Official Page.. its not High POS any more and that can drive people away from the coin!
We have to think NOT only about market conditions, but also the coin must perform the same way all the time so you can count on it (easy rules i.e. 40% at 30+ days) Now we have unknown Super Low Stake rate
If you want ~2% rate - go to hobonickles
If you want all your coin compressed to 100000hyp blocks to get 1000.. then go buy HYP
But this 40% is the main feature of the tekcoin and that what drives the demand... this mining is power efficient etc.
It is stupid to just cut the supply of the coin which main feature is something that can be promoted as the Virtual Mining contracts with constant outcome
peace

P|S why we must stay with something that novacoin has ? Perhaps// is this true that we have 95% diff rise because of ONE adress?
If this is the case, then it is bad for the coin? for all 95% of its users.. and we must take action if we see something wrong, so that we dont get into the same trabble in the future!

Really think you're making a mountain out of a mole hill here. The APY on TeK is STILL hovering right around 200%. My most recent HBN stakes have been right around 84% APY. This is happening while the price of these two excellent coins have been moving in opposite directions. To me that says leave TeK alone and buy HBN...it's undervalued, but that's just me.

There's nothing wrong with TeK, it's just evolving. It remains one of the highest yielding, oldest, well established hybrid coins out there. TeK is 87th in market cap, which is where free market forces have placed it. What would be served by overriding the inflation controls and tanking the value?

This! I'd like to see a bit of a facelift on the wallet from time to time, and that's really it. TEK works as it should, and almost always has. I think I may have been the last to understand NVCS, and I'm still not concerned