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

[thefix]

/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.

[Joebwan]

/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.

[mmfiore]

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.

[ntsdm]

No big volume for now on yobit

[sirazimuth]

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....

[kiklo]

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.  
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.


 

[Abiky]

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.  
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.


 

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. 

[m33]

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.  
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.


 

That's really good but with noise 23 current problems I Guess we better use bootstraps certify by the devs

[kiklo]

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.  
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.


 

That's really good but with noise 23 current problems I Guess we better use bootstraps certify by the devs

Sure , no worries , when he gets a chance it is available at the previous link.
The rar file only contains bootstrap.dat which is not an executable file, so it should not even be able to infect a system with a virus.  

By the way exactly how was Noise23 system compromised , so users can put in safeguards to protect themselves against that type of thing in the future.

 

FYI:
Here is a list of file extensions that should always be scanned as they could potentially install viruses on a system,
ADE, ADP, APP, ASA, ASP, BAS, BAT, CER, CHM, CMD, COM, CPL, CRT, CSH, DLL, EXE, FXP, HLP, HTA, HTM, HTML, HTR, INF, INS, ISP, ITS, JS, JSE, KSH, LNK, MAD, MAF, MAG, MAM, MAQ, MAR, MAS, MAT, MAU, MAV, MAW, MDA, MDB, MDE, MDT, MDW, MDZ, MHT, MHTM, MHTML, MSC, MSI, MSP, MST, OCX, OPS, PCD, PIF, PRF, PRG, REG, SCF, SCR, SCT, SHB, SHS, TMP, URL, VB, VBE, VBS, VBX, VSMACROS, VSS, VST, VSW, WS, WSC, WSF, WSH, XSL
Include any Word , Excel, Access, or Powerpoint file extensions as programs that run macros can also infect a system.

All of these file types have legitimate uses under appropriate circumstances. The simple fact that a file is one of the types listed above does not mean that there is something "wrong" with the file or that it is infected with a virus. But if you receive a file with one of these types from an untrusted source or in unexpected or suspicious circumstances, you should not work with the file until you are sure that it is safe.
Tech Tip: Always scan a download for Viruses before installing , one such service is https://www.virustotal.com  


FYI2:
Tech Tip: Disable Hidden File Name Extensions
All current versions of Windows are initially installed with an option called "Hide extensions for known file types" enabled. When this option is enabled, Windows will not display the file name extensions (.EXE, .DOC, etc.) for file types that it knows about.

This option is considered by many knowledgeable users to be dangerous, primarily because it can mislead you about the true nature of your files. For example, you might have a virus-infected file named "vacation.jpg.exe". If the hidden extension option is enabled, this file will appear on your desktop or in Windows Explorer as "vacation.jpg", leading you to think that it is a harmless vacation picture. In fact, it is an executable program, and opening it could infect your computer.

To disable hidden extensions:
    Open My Computer or Windows File Explorer.
    Click Folder Options or Folder and Search Options, which will be located in either the Tools menu, the View menu, or the Organize menu, depending on your version of Windows.
    In the Folder Options dialog, click the View tab.
    Uncheck the box labeled Hide extensions for known file types and click OK.

[Biomech]

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

This is actually really easy to do in the code However, it IS a hard fork, and if not properly handled wil lead to a number of forked chains being created. That's more a PR issue, geting the word out that there is a mandatory upgrade, getting the proper code to major exchanges, etc.

[vegasguy]

Team FLY will also be launching its own bootstrap service. Our goal is to reach 1500 wallets, and we will have tek listed. We have a 1Gps private pipe. 1Gps up and down. We are also looking to hire additional wallets coders to add to our team. Our service will also email users when a new wallet is released (only the wallets they choose). I know alot of devs hang out here, so thats why im posting here. Good to see some familiar faces.

Vegas

[thundertoe]

tekcoin.org domain and hosting is expiring today, i wasn't going to renew them.  Putting up something simple on github.io free hosting to replace it i guess.

*edit* ok i was convinced that was not a good idea...  i paid them up

[ilidion]

so what is the new plan for this coin?

[Couldbe]

I'd hate this coin to go the same way as Ratecoin, where the micro-stake gamers have put such a stranglehold on that coin that only they can effectively mint new coins. When something like this happens, the lion's share ends up in the hands of a few and other people lose interest. Literally. The price then plummets.

The micro-stake gamers switch off their stranglehold occasionally to stake at the 40% max and then switch the micro-stakes back on so that the rest of us just get crumbs. Let's crash the price and flush them out!

The difficulty is consistently so high now that Thundertoe needs to draw a new graph on the OP to show the stark reality of the diminishing returns. We are off the scale. The difficulty at the moment of writing this is 0.0233.

After my next staking, I plan to beat the gamers at their own game. Give them a taste of their own medicine. I'm not going to sell at a ridiculous price. I'm going to split my not-inconsiderable hoard into micro-amounts. I suggest that other like-minded people do the same. Make sure that the gamers don't get the 40% max. That will do two things:

1)  when the price crashes further, that could give us the opportunity to buy Tek at a lower cost, if we so wanted; and
2)  it will force Tekcoin to become useful and thrive, or ...

What have we got to lose?

[steve321]

CryptoChainer.com has updated the TEK blockchain, as well as added a bootstrap for those who prefer those.  I see there are now some other providers offering a similar service.  We are in direct contact with the TEK dev.

[m33]

I'd hate this coin to go the same way as Ratecoin, where the micro-stake gamers have put such a stranglehold on that coin that only they can effectively mint new coins. When something like this happens, the lion's share ends up in the hands of a few and other people lose interest. Literally. The price then plummets.

The micro-stake gamers switch off their stranglehold occasionally to stake at the 40% max and then switch the micro-stakes back on so that the rest of us just get crumbs. Let's crash the price and flush them out!

The difficulty is consistently so high now that Thundertoe needs to draw a new graph on the OP to show the stark reality of the diminishing returns. We are off the scale. The difficulty at the moment of writing this is 0.0233.

After my next staking, I plan to beat the gamers at their own game. Give them a taste of their own medicine. I'm not going to sell at a ridiculous price. I'm going to split my not-inconsiderable hoard into micro-amounts. I suggest that other like-minded people do the same. Make sure that the gamers don't get the 40% max. That will do two things:

1)  when the price crashes further, that could give us the opportunity to buy Tek at a lower cost, if we so wanted; and
2)  it will force Tekcoin to become useful and thrive, or ...

What have we got to lose?


It would seem tek is under Attack ! I think they would just continue to stake in this fashion till bag holder give up , we hold for 30 days and than collect under 10% ?? In the event of crash , it would be pointless for them to sell , if intension was to cause harm . That would just let the damn machine run till tek is really dead , something need to be done before price go down further

[thundertoe]

CryptoChainer.com has updated the TEK blockchain, as well as added a bootstrap for those who prefer those.  I see there are now some other providers offering a similar service.  We are in direct contact with the TEK dev.

Thanks and yes these guys have been great.

TEKcoin has an update coming soon, Tekcoin.org and https://twitter.com/TEKcoins will also be getting some work done.

[m33]

Like to report an incident at cryptopia nz the new exchange we are listed in ,

What happen was in pop in to chat saw something funny posted "whaawhaa" and got hit by a lifetime ban .
So I guess we have to be careful when we trade there , and I won't be letting my coins sit there long who know what the owner will do , for a simple comment life time ban
 http://imgur.com/jDKzblX


Update : if you look in their forum it say by one of the owner that they have already started to look for full time jobs , sound unstable so beware of your deposit

[Couldbe]

I just want to make clear that the last paragraph of M33's quote of my post is not mine - it's M33's reply.

CryptoChainer.com has updated the TEK blockchain, as well as added a bootstrap for those who prefer those.  I see there are now some other providers offering a similar service.  We are in direct contact with the TEK dev.

Thanks and yes these guys have been great.

TEKcoin has an update coming soon, Tekcoin.org and https://twitter.com/TEKcoins will also be getting some work done.

That the update is coming soon is good news, as is the confirmation that progress is being made behind the scenes.

[m33]

I just want to make clear that the last paragraph of M33's quote of my post is not mine - it's M33's reply.

CryptoChainer.com has updated the TEK blockchain, as well as added a bootstrap for those who prefer those.  I see there are now some other providers offering a similar service.  We are in direct contact with the TEK dev.

Thanks and yes these guys have been great.

TEKcoin has an update coming soon, Tekcoin.org and https://twitter.com/TEKcoins will also be getting some work done.

That the update is coming soon is good news, as is the confirmation that progress is being made behind the scenes.

Ya sorry I mess that up , posting from my small phone does that . I'll edit that when I reach home, sorry