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

[Couldbe]

May be TEK split into 2 blockchain?

Why do you think so?

Anyway, you can check it -

Code:

getblockhash 1279841

should be

Code:

7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13

Hash for block 1279841 seems to be OK. Mine is identical to yours:
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - your line
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - my line

Anyone have anything different?

To double-check, for Block 1279934 which came in just before 10:13pm UK time (minutes ago) I have this hash:

61cf8c69280b232d3bf695ebe8b5599be77f3b366511e6671539c02fbe61ecf2

Syncing seems to be quite smooth now.

[Enema]

Something weird has been happening to Blockchain syncing over the last couple of hours. The POS difficulty is down to 0.00006103, but the remaining blocks to sync number keeps on going up and down. Theoretically it should be possible to mint at the near maximum of 40%. The number of active nodes is now low and dropped down to one several times a few minutes ago. I've been trying to sync for several hours.

PressTab's explorer is offline, and has been so for some time. Last time I connected with it live was approximately 12 hours ago. It had been showing that POW mining input was non-existent. I did successfully mint at that time with a yield of around 33%.

I have more coins that are mature, but don't want to open staking until syncing with the Blockchain is stable. Can anyone throw light on this?

EDIT: Shortly after posting this, the syncing problem cleared up and I minted my stake almost immediately. PressTab's explorer is still offline, but I can confirm that the difficulty is still currently in the 0.00006 range, meaning that near maximum staking is possible at this time. Check before staking though.

Good to know I was not the only one having problems getting synced.
Made a couple of re-starts of the wallet since it got stuck after down loading a couple of 100 blocks.
Once synced there was a time off set of +10 min, which corrected itself after running for a while.
After checking with the explorer I unlocked and staked for a full 40%.
Finally after 70 days ...

[Woody20285]

May be TEK split into 2 blockchain?

Why do you think so?

Anyway, you can check it -

Code:

getblockhash 1279841

should be

Code:

7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13

Hash for block 1279841 seems to be OK. Mine is identical to yours:
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - your line
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - my line
Anyone have anything different?
To double-check, for Block 1279934 which came in just before 10:13pm UK time (minutes ago) I have this hash:
61cf8c69280b232d3bf695ebe8b5599be77f3b366511e6671539c02fbe61ecf2
Syncing seems to be quite smooth now.

Have the same!

[ClioRS]

May be TEK split into 2 blockchain?

Why do you think so?

Anyway, you can check it -

Code:

getblockhash 1279841

should be

Code:

7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13

Hash for block 1279841 seems to be OK. Mine is identical to yours:
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - your line
7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13 - my line
Anyone have anything different?
To double-check, for Block 1279934 which came in just before 10:13pm UK time (minutes ago) I have this hash:
61cf8c69280b232d3bf695ebe8b5599be77f3b366511e6671539c02fbe61ecf2
Syncing seems to be quite smooth now.

Have the same!

Same over here

[dollux]

May be TEK split into 2 blockchain?

Why do you think so?

Anyway, you can check it -

Code:

getblockhash 1279841

should be

Code:

7f1d1ae088c739c200f986868474f4a7552500ebfb7cd1a25ba48ad0882f4a13

Mine is the same as well.

I also had problems syncing my wallet, I had to keep closing it down and staring it again, I did this about 7 times until it caught and synced smoothly. 

[noise23]

Loving the 40% stake so far.

I've been noticing my blocks keep splitting, is there a way to disable that? This makes microstaking inevitable. And the hard fork coming soon should auto combine blocks, or at least stop splitting blocks by default.

Add this line to tekcoin.conf (or start TEK wallet with -splitthreshold=15000 option)

Code:

splitthreshold=15000

It will keep blocks below 15000 from splitting (15000 is the max, you can also set lower amount).

[inspiron]

Loving the 40% stake so far.

I've been noticing my blocks keep splitting, is there a way to disable that? This makes microstaking inevitable. And the hard fork coming soon should auto combine blocks, or at least stop splitting blocks by default.

i have 56k coin in my wallet all in one block after month/30 days stake rate 14.99% not 40%
is there problem in block size

[Joebwan]

Ever heard of a wallet not staking? 32+ days, I unlocked to stake, and nothing. Usually it stakes right a way.  I tried re-starting the wallet. Nothing. (of course I let it sync before unlocking.) Ideas?

[Couldbe]

Loving the 40% stake so far.

I've been noticing my blocks keep splitting, is there a way to disable that? This makes microstaking inevitable. And the hard fork coming soon should auto combine blocks, or at least stop splitting blocks by default.

i have 56k coin in my wallet all in one block after month/30 days stake rate 14.99% not 40%
is there problem in block size

The percentage paid out is depenent upon the difficulty at the time your staked coins minted. 14.99% would suggest the the difficulty was 0.003 when your minting occured. I do take your point though. The current difficulty is 0.00006311 and if your coins had minted now, you would have received a near maximum 40% return. 14.99% is still a decent return on 30 days when compared to other POS coins. See the Opening Page for the chart showing the relation of the % rate of return to the difficulty https://bitcointalk.org/index.php?topic=320404.0

Whether there a problem with block size depends upon your point of view and whether you are talking about the actual block in the Blockchain, or the 'block' of coins that you are staking. Block technically means the block in the Blockchain, although it is sometimes loosely used in describing a particular amount of coins being staked. I take it that it is the loose term for amount staked that you mean.

At times there are very large numbers of small amounts crowding out larger amounts from the next block in the Blockchain. When this happens, it becomes a numbers game. This makes the difficulty higher at times. However, 56,000 Tek is a considerable size to stake and the weight accruing to that amount should eventually get through into a block and be minted before too long.

Some people see large numbers of smaller amounts staking as a help to the network and a partial control on inflation; others see it as a possible security threat and/or a nuisance; and still others see it as a way to 'game' the system. Again, whether there is a problem depends upon your point of view.

[Couldbe]

Ever heard of a wallet not staking? 32+ days, I unlocked to stake, and nothing. Usually it stakes right a way.  I tried re-starting the wallet. Nothing. (of course I let it sync before unlocking.) Ideas?

Yes, I've heard of a wallet not staking after 32+ days. Successful staking depends upon: the amount of coins being staked in a batch; the weight of those coins; the difficulty at the time; and the length of time you keep your wallet open for staking. For medium-sized amounts, I sometimes leave them for at least a couple of days above the 30 maturation period before opening my wallet to stake at what I consider to be the most appropriate time. I should imagine, that generally, smaller amounts would take longer than 32 days to mint. If the difficulty is high it can sometimes take hours, before even a very large amount successfully mints.

Looking at the latest successful hash at block 1285914, 0efafe16eae1127316e0a33bd68f95d19d09d61c6053f98744c8dd0c3244a77b, shows that it took 35.35 days to mint a batch of 3.15 Tek. At the moment, the difficulty in minting is low. Lots of similar examples are occuring all the time.

[ScottyMcAuld]

For those unsure of block size anything over 2k should be good, for those caught in the micro staking high dif maybe don't stake in one block. eg instead of one 40k block, 4 lots of 10k spread out over the month. This would mean taking an average. Hopefully new wallet code will sort out matters. Liking new mission statement on tekcoin.org hope it has the desired effect on the coin and it's community. Nice bounty. 

[dickwhite]

Some people see large numbers of smaller amounts staking as a help to the network and a partial control on inflation; others see it as a possible security threat and/or a nuisance; and still others see it as a way to 'game' the system. Again, whether there is a problem depends upon your point of view.

There is a problem, and it's exponential supply growth. With no limit on supply growth, the price will drop accordingly. Has to. That's fine for large holders, who've lobbied to eliminate microstaking in the code so that they can always get 40% return thus staying ahead of inflation. Ultimately, it's a race to the bottom. If nothing else, greed will kill this coin.

Most other POS coins I hold have stake reward limits and, as a result, high difficulties. And these coins are apparently able to retain/attract users in spite of it because it makes them relatively scarce, valuable and more predictable. I realise monetary value isn't everything, but it's a lot to a coin that has no other functional purpose but speculation.

Once more, I implore the dev of this coin to consider my warning. I believe his motives are pure because this impending hard-fork is meant to eliminate a perceived injustice, and that's fine. However, this fix will only exacerbate the problem of unlimited supply growth. Eventually, we will all lose unless we bail out judiciously. And once the faithful have left, the coin will likely be abandon.

Just my thought. Thanks for reading.

[gribgo]

Some people see large numbers of smaller amounts staking as a help to the network and a partial control on inflation; others see it as a possible security threat and/or a nuisance; and still others see it as a way to 'game' the system. Again, whether there is a problem depends upon your point of view.

There is a problem, and it's exponential supply growth. With no limit on supply growth, the price will drop accordingly. Has to. That's fine for large holders, who've lobbied to eliminate microstaking in the code so that they can always get 40% return thus staying ahead of inflation. Ultimately, it's a race to the bottom. If nothing else, greed will kill this coin.

Most other POS coins I hold have stake reward limits and, as a result, high difficulties. And these coins are apparently able to retain/attract users in spite of it because it makes them relatively scarce, valuable and more predictable. I realise monetary value isn't everything, but it's a lot to a coin that has no other functional purpose but speculation.

Once more, I implore the dev of this coin to consider my warning. I believe his motives are pure because this impending hard-fork is meant to eliminate a perceived injustice, and that's fine. However, this fix will only exacerbate the problem of unlimited supply growth. Eventually, we will all lose unless we bail out judiciously. And once the faithful have left, the coin will likely be abandon.

Just my thought. Thanks for reading.

Thanx for writing!
Everybody is pointing to the "supply"... but they always forget about the demand!!! I need this coin only because it is the only coin now that has parameters close to what I call "a virtual miner" and replaces faulty mining clouds and gives you control over all your virtual hashing power, no need to pay maintenance fees and no need to trust cloud hashing at all ..scams or not!
You can alwas exit by just selling your coins..
Look at TEKcoin as virtual mining machine that is not affected by the network difficulty that much.. Will be fixed back to 40% after hardfork.

That forms the DEMAND for more then two years now!

Tekcoin lets people start with the crypto without need to buy BTC or hardware miners or mining contracts and because it has its market gateways open at Cryprts lets you exchange it for btc or any other coin that has Market adoption ar some other shit you can imagine with no datacenter at your basement.
Peace

PS Trust me you don't want your miner to have to stop mining at some point in future i.e. "coin supply cap" or any other decline or regular disadvantages that other miners have..

[ryanb]

We need to have the coin on more exchanges, we need to have more trading volume on cryptopia.

[gribgo]

We need to have the coin on more exchanges, we need to have more trading volume on cryptopia.

Yeah I'm trying to sell 5200 tek on cryptopia, no  volume.

And everyone who is refusing the NY bitlicense is freezing accounts like mine, which basically means I shouldn't invest. I've got a lot of alt coins that I can't use now.

And where is the demand. All tek is doing is going down.

Obviously, I'm getting very angry The potential for tek and other pos coins is great but the environment is very hostile.

Sorry! I dont understand the problem..
Sell it here or use Cryptsy.. u dot need to varify account for this big amounts..
any other suggestions tekheads?
peace

[Libertymind]

We need to have the coin on more exchanges, we need to have more trading volume on cryptopia.

Yeah I'm trying to sell 5200 tek on cryptopia, no  volume.

And everyone who is refusing the NY bitlicense is freezing accounts like mine, which basically means I shouldn't invest. I've got a lot of alt coins that I can't use now.

And where is the demand. All tek is doing is going down.

Obviously, I'm getting very angry The potential for tek and other pos coins is great but the environment is very hostile.

Sorry! I dont understand the problem..
Sell it here or use Cryptsy.. u dot need to varify account for this big amounts..
any other suggestions tekheads?
peace

I'm in new york, they froze my account. So, I can't use cryptsy.

New York places requirements which shut out all but the wealthiest people, to be able to run a bitcoin business there. Lots of companies already left New York. Some of the bigger ones dished you huge amounts of money and wasted huge amounts of time to get the New York bit licence. Most companies decided to stay away form New York altogether.

[dickwhite]

Look at TEKcoin as virtual mining machine that is not affected by the network difficulty that much.. Will be fixed back to 40% after hardfork.

That forms the DEMAND for more then two years now!

Yes, it is attractive and the reason I joined. However, I didn't grasp the concept of exponential growth until I ran the numbers. Hypothetically, if we did the hard fork today at 65577536 coins and everyone gets 40%, then at the end of 12 months we will have something like 3 7 billion coins. I realize not everyone will stake, but even a billion coins is a lot. Take it out to 2 years and that's 210 billion coins. After 3 years, well, it's in the trillions.

I sure hope you are right and there is enough demand to absorb all these coins. Trade accordingly.

[Joebwan]

Difficulty has been low the last few days without the hard fork. Maybe it is not necessary.

[Argon18]

Look at TEKcoin as virtual mining machine that is not affected by the network difficulty that much.. Will be fixed back to 40% after hardfork.

That forms the DEMAND for more then two years now!

Yes, it is attractive and the reason I joined. However, I didn't grasp the concept of exponential growth until I ran the numbers. Hypothetically, if we did the hard fork today at 65577536 coins and everyone gets 40%, then at the end of 12 months we will have something like 3 7 billion coins. I realize not everyone will stake, but even a billion coins is a lot. Take it out to 2 years and that's 210 billion coins. After 3 years, well, it's in the trillions.

I sure hope you are right and there is enough demand to absorb all these coins. Trade accordingly.

Exponential growth will devastate the price per coin, if U look at all of the coins with Numbers over a few billion, they all have a price of only a few sats.
At some point , users will stop buying tek because when you have 1 million coins and 40% per month, why would you need to buy anymore, you would not, then you only sell excess coins and that lowers the price. Interest rate will have to be changed within a year or so to avert that problem. But hopefully before the 500 million mark.
Then you could move to a 25% per year, a more sustainable alternative that the current 20 or 40% per month.
The more new users the longer that tipping point can be postponed, but it can't be postponed forever, the tipping point will come, it is inevitable.

AG18


 

[gribgo]

Look at TEKcoin as virtual mining machine that is not affected by the network difficulty that much.. Will be fixed back to 40% after hardfork.

That forms the DEMAND for more then two years now!

Yes, it is attractive and the reason I joined. However, I didn't grasp the concept of exponential growth until I ran the numbers. Hypothetically, if we did the hard fork today at 65577536 coins and everyone gets 40%, then at the end of 12 months we will have something like 3 7 billion coins. I realize not everyone will stake, but even a billion coins is a lot. Take it out to 2 years and that's 210 billion coins. After 3 years, well, it's in the trillions.

I sure hope you are right and there is enough demand to absorb all these coins. Trade accordingly.

Exponential growth will devastate the price per coin, if U look at all of the coins with Numbers over a few billion, they all have a price of only a few sats.
At some point , users will stop buying tek because when you have 1 million coins and 40% per month, why would you need to buy anymore, you would not, then you only sell excess coins and that lowers the price. Interest rate will have to be changed within a year or so to avert that problem. But hopefully before the 500 million mark.
Then you could move to a 25% per year, a more sustainable alternative that the current 20 or 40% per month.
The more new users the longer that tipping point can be postponed, but it can't be postponed forever, the tipping point will come, it is inevitable.

AG18


 

Do you realize that this coin is allready more then two years old???
..redo your calculations since the coin begining and compare to what we have now and trow your math away
peace