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

[ViMal]

Hi all!
new stratum  multicoin pool:
http://xguild.net/tek/
fee: 1%
please try!
Thanks!

[raskul]

some numbers:

with 1.5TH/s i'm mining approx 70 TEK per 24 hrs, which equates to ~0.052BTC at current rate

https://www.cryptsy.com/markets/view/114

TEKcoin will stake, after 30 days - 40%

70 TEK + 40% = 98TEK per day = 0.0728BTC per day as opposed to BTC which i'd be mining 0.06 per day directly (and there is an imminent 25% difficulty rise)

pretty much even (slightly more than) with BTC. Catch your sell on a high - TEK can peak at around 82k Satoshi and you have pretty much beaten Bitcoin by 0.02BTC per day.

i've already moved away from mining BTC now - having been buying up Zimstake (12% per annum) with all my BTC earnings from the last month, TEK is indeed more profitable in the long run.

it's a groovy train, baby! http://tek.centralcavern.uk Time to GET ON IT!

[fengzhongvxifn2]

some numbers:

with 1.5TH/s i'm mining approx 70 TEK per 24 hrs, which equates to ~0.052BTC at current rate

https://www.cryptsy.com/markets/view/114

TEKcoin will stake, after 30 days - 40%

70 TEK + 40% = 98TEK per day = 0.0728BTC per day as opposed to BTC which i'd be mining 0.06 per day directly (and there is an imminent 25% difficulty rise)

pretty much even (slightly more than) with BTC. Catch your sell on a high - TEK can peak at around 82k Satoshi and you have pretty much beaten Bitcoin by 0.02BTC per day.

i've already moved away from mining BTC now - having been buying up Zimstake (12% per annum) with all my BTC earnings from the last month, TEK is indeed more profitable in the long run.

it's a groovy train, baby! http://tek.centralcavern.uk Time to GET ON IT!

nice work.
team work carefully and earnestly,this coin is certainly a period of time I have to keep it!

[armin22]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

[raskul]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252
month two : +702,269.40197008 = 2,457,942.90689528
month three: +983,177.162758112 = 3,441,120.069653392
month four : +1,376,448.0278613568 = 4,817,568.0975147488
month five: +1,927,027.2390058995 = 6,744595.3365206483
month six: +2,697,838.134608259328 = 9,442,433.471128907648
month seven: +3,776,973.3884515630592 = 13,219,406.8595804707072
month eight: +5,287,762.7438321882828 = 18,507,169.60341265899
month nine: +7,402,867.841365063596 = 25,910,037.444777722586
month ten: +10,364,014.9779110890344 = 36,274,052.4226888116204
month eleven: +14,509,620.969075524648 = 50,783,673.3917643362684
month twelve: +20,313,469.3567057345072 = 71,097,142.7484700707756
month thirteen: +28,438,857.0993880283104 = 99,535,999.847858099086
Month FOURTEEN: 100millions.

[rel-oad]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

[raskul]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

however - the above table does not take into consideration mined coins - it only shows PoS coins, so MAXCOINS will be sooner.

[CentralCavern]

well done to our friend JemHadar!!!  

Even little rigs can crack blocks on our TEK pool!

L@@K!! JemHadar has only 50GH/s!

http://www.centralcavern.uk/img/jemhadar.jpg

power up those old miners! get mining TEK with Central Cavern!

http://tek.centralcavern.uk

[Crypto_Enthusiast]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

[raskul]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

[Crypto_Enthusiast]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

[sneakgeekz]

I assumed the difficulty adjustments would lower the staking percentage extending the life of the coin. 

[thundertoe]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction.  TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

[raskul]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction.  TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

so it will cease to be mineable at 100million? is this correct?

[thundertoe]

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined

yup 

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction.  TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

so it will cease to be mineable at 100million? is this correct?

No  it will keep going as it is exactly right now forever the 100 million # actually refers to the max coins allowed in a  single transaction.

[walkdev]

No  it will keep going as it is exactly right now forever the 100 million # actually refers to the max coins allowed in a  single transaction.

Music to my ears!

[kprell40]

  Hello
   
      Does the tek wallet need to be running non stop for 30 days  to receive Stake Interest or can I close it ? because I like to turn off my pc at night.....
   
             

[raskul]

Code:

[quote author=raskul link=topic=320404.msg7492822#msg7492822 date=1403631791]
[quote author=thundertoe link=topic=320404.msg7492770#msg7492770 date=1403631627]
[quote author=Crypto_Enthusiast link=topic=320404.msg7489644#msg7489644 date=1403621764]
[quote author=raskul link=topic=320404.msg7488366#msg7488366 date=1403617656]
[quote author=Crypto_Enthusiast link=topic=320404.msg7488237#msg7488237 date=1403617291]
[quote author=rel-oad link=topic=320404.msg7484377#msg7484377 date=1403602314]
[quote author=raskul link=topic=320404.msg7484247#msg7484247 date=1403601707]
[quote author=armin22 link=topic=320404.msg7483932#msg7483932 date=1403600320]
I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined :(
[/quote]

yup  :)

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

[/quote]

We'll have to see if this comes true. I suspect it'll be a lot lower.
[/quote]

So what happens when all coins are staked and mined?
[/quote]


good question!
[/quote]

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks
[/quote]


This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction.  TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.


[/quote]

so it will cease to be mineable at 100million? is this correct?
[/quote]

No  it will keep going as it is exactly right now forever the 100 million # actually refers to the max coins allowed in a  single transaction.

OK thanks.

[thundertoe]

  Hello
   
      Does the tek wallet need to be running non stop for 30 days  to receive Stake Interest or can I close it ? because I like to turn off my pc at night.....
   
             

No you can leave it closed and wait for the 30 days to pass then open it for awhile and let it mint the interest and close it again for another month.

[kprell40]

  Hello
    
      Does the tek wallet need to be running non stop for 30 days  to receive Stake Interest or can I close it ? because I like to turn off my pc at night.....
    
              

No you can leave it closed and wait for the 30 days to pass then open it for awhile and let it mint the interest and close it again for another month.

             Thank you for the info
                     Kevin