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

[presstab]

does it seem strange that tek is always listed as 500%? that is not the same as other coins. others list the yearly compounded rate , then go on to list TEK rate at 500% and that is the non compound rate.

Other are listed yearly too. And this is not 500, this is 480%. Compounded is 5570%.

TEK is not 480% annual.  I really have no idea why people keep saying this.

Code:

static const int64 MAX_MINT_PROOF_OF_WORK = 100 * COIN;	//100 Coin per block
static const int64 MAX_MINT_PROOF_OF_STAKE = 0.05 * MAX_MINT_PROOF_OF_WORK;

https://github.com/maxxine/TEK/blob/master/src/main.h

Pretend I'm an idiot. Cuz when it comes to programming, I am. Can you explain what that code says/does?

It says that the annual PoS rate is 5% of MAX_MINT_PROOF_OF_WORK, which is 100 * COIN.  This means the PoS rate is 5 * COIN. So in plain english the non compounded rate is 5x your 1 coin in a year. Unless there are goofy variables elsewhere in the code throwing it off.

[1714857602]

1714857602

[Biomech]

Ok, so it actually IS 500 %, it just don't quite work out in realtime

One day I'm going to figure out all of this coding shit. I hope

Thanks, presstab.

[David Latapie]

TEK is not 480% annual.  I really have no idea why people keep saying this.

480 is 40*12 (40% per month). Simple as that.

Now since the interest is not exactly 40%, this is different. I've updated the comparison matrix ("monthly stake" and "yearly compound stake" columns).

[presstab]

TEK is not 480% annual.  I really have no idea why people keep saying this.

480 is 40*12 (40% per month). Simple as that.

Now since the interest is not exactly 40%, this is different. I've updated the comparison matrix ("monthly stake" and "yearly compound stake" columns).

No it isn't. Where does that 40% number come from???  It is some number that was used for marketing purposes... not what is in the code. And also it isn't per month, it is per 30 days - which means there are 12.16 stakes per year.  It is simply incorrect to label the annual stake rate by taking the derivative of marketing simplicity and then backing into the annual rate from that. But hey if it makes y'all happy to mislead everyone by chopping off 20%, then so be it.  The code is the code, how you choose to market it is up to you I guess, but david if you are producing a document with comparisons you should be precise.

[thundertoe]

vote for TEK at https://www.allcoin.com/vote currently #3 

[jdhatch]

vote for TEK at https://www.allcoin.com/vote currently #3 

I don't see TEK as a choice to vote for.

Jason

[jdhatch]

The facebook group is now at:

https://www.facebook.com/groups/TEKcoin/

Jason

[Dexter12]

Any plans for stopping the dump?  from 0.001 back to 0.000225... in ~23days..

[walkdev]

Any plans for stopping the dump?  from 0.001 back to 0.000225... in ~23days..

People just dumping large amounts of stake instead of placing sell orders and waiting for the market to catch up? And price-wise we all seem to suffer as a result - including those that are selling their stake, I'd guess...

[subSTRATA]

Any plans for stopping the dump?  from 0.001 back to 0.000225... in ~23days..

People just dumping large amounts of stake instead of placing sell orders and waiting for the market to catch up? And price-wise we all seem to suffer as a result - including those that are selling their stake, I'd guess...

It is always easier to blame someone or something else instead of yourself for buying at too high price. If prior to investing you switched to all-time graph at Cryptsy you would
see that the latest pump lasted very long and upped the price for over 1500% so if you bought at pump late stage or once dump started it is just your fault. Next time do some
research before investing.

[Crypto_Enthusiast]

Agreed. I made that mistake and put my hands up to it. Only have myself to blame. I bought 5 BTC worth right near the peak, with the intention of holding long term for compound interest. It is now worth 2. But, I wanted in at that point to start staking. Of course I am not going to sell, more like let the interest compound over long term and perhaps even buy some more coins at these low prices.

I do believe TEK is currently undervalued, the community is mature and long-term thinking & the short-term profit makers are selling out & exiting at the moment.

TEK will go back up over time in my opinion.

[walkdev]

Any plans for stopping the dump?  from 0.001 back to 0.000225... in ~23days..

People just dumping large amounts of stake instead of placing sell orders and waiting for the market to catch up? And price-wise we all seem to suffer as a result - including those that are selling their stake, I'd guess...

It is always easier to blame someone or something else instead of yourself for buying at too high price. If prior to investing you switched to all-time graph at Cryptsy you would
see that the latest pump lasted very long and upped the price for over 1500% so if you bought at pump late stage or once dump started it is just your fault. Next time do some
research before investing.

No, I'm holding my hands up and admitting quite readily that I bought SOME of my TEK at the wrong time. Just making the observation that people seem to be selling in big chunks rather than trickle-feeding, that's all.

[David Latapie]

Getting TEKcoin to rise in price again is also a matter of giving it a living community.

As you may  know, I created the #TEKcoin IRC channel. Now, I am on the process, thanks to drewdrew, to have a tipbot in it. Come join in, tipbots attract newcomers. Sure, you will lose some of your staking power, but consider it as an investment. I suggest divesting up to 1% of your stash to tipbot to share on IRC members.

Edit: what is TEK's block height? drewdrew needs it for the tip bot. Thanks.
Edit2: tipbot operational. I started to pour rain over the channel. Crazyloaf and cazze are the only one here out of me and drewdrew so they are the lucky winners. Now they can start pouring rain too.

[ElTomeko27]

Agreed. I made that mistake and put my hands up to it. Only have myself to blame. I bought 5 BTC worth right near the peak, with the intention of holding long term for compound interest. It is now worth 2. But, I wanted in at that point to start staking. Of course I am not going to sell, more like let the interest compound over long term and perhaps even buy some more coins at these low prices.

I do believe TEK is currently undervalued, the community is mature and long-term thinking & the short-term profit makers are selling out & exiting at the moment.

TEK will go back up over time in my opinion.

Probably it will, but first I think it would be the same like with PHS HBN and CAP..Big price erosion.

[Biomech]

Any plans for stopping the dump?  from 0.001 back to 0.000225... in ~23days..

People just dumping large amounts of stake instead of placing sell orders and waiting for the market to catch up? And price-wise we all seem to suffer as a result - including those that are selling their stake, I'd guess...

My plan is to hang back, watch the idiots, and catch what they drop.

And if you are dumping tek, you ARE an idiot! My sells, when I get to that point, will be at least 10 percent above the market that day, and I won't budge on that price. If all of you start doing that, it'll be back in the 70-80k range in no time.

[jdhatch]

My plan is to hang back, watch the idiots, and catch what they drop.

I would not call them idiots. 
I appreciate them selling. 

I buy consistently as much as I can (it guarantees I will get to stake those coins and they can't)

Jason

[Biomech]

My plan is to hang back, watch the idiots, and catch what they drop.

I would not call them idiots. 
I appreciate them selling. 

I buy consistently as much as I can (it guarantees I will get to stake those coins and they can't)

Jason

I figure brutal honesty is the best policy in this case. I'm gonna tell them they are damn fools while enriching myself on their foolishness. Either they'll ignore me and give me more cheap tek, or they'll listen and quit being idiots, which improves the value of my coins. Either way, I win. One way, they do to

[breakbeater]

I also appreciate dumpers selling. I already gathered thousands of TEK, HBN, CAPS and PHS and i have some BTC left for investments.

[Jamesco]

I also appreciate dumpers selling. I already gathered thousands of TEK, HBN, CAPS and PHS and i have some BTC left for investments.

I'm really quite jealous, Ive managed to pick up some TEK on that last sell to 22500, Thats about it...for now

[Biomech]

I also appreciate dumpers selling. I already gathered thousands of TEK, HBN, CAPS and PHS and i have some BTC left for investments.

I'm really quite jealous, Ive managed to pick up some TEK on that last sell to 22500, Thats about it...for now

What he said. I have a solid plan on how much tek I wish to acquire, and the damn dumpers always get it out of their system before my funds are available. Just you watch. Sunday, the price will be back up in the 40's, cuz that's when I can do something about it.

BTW, sunday is because of PBmining, link in my sig. I've done very well with them. They mine BTC for me, I turn it into tek