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

[thundertoe]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

sorry had to post it for a lol, but who really knows unless we test it out i guess.

[1713286449]

1713286449

[1713286449]

1713286449

[1713286449]

1713286449

[jk9694]

More into that block decode error, I captured some additional logging that may help

2014-08-08 16:39:38 [Pool]       [tekcoin - sha256 (pos)] (Thread 1) Submitted Json: {"method":"submitblock","params":["04000000db5bb56ff4b838c2b61179d57481551b5193db6d5f187a61e62e0000000000004085177 c19f363e0075c7f68e75d4446f9db704ac50de886bda60cc972d045b0f234e553dc457c1a284111 5b0101000000f234e55301000000000000000000000000000000000000000000000000000000000 0000000ffffffff2703ec5507062f503253482f04f434e553087ffffffc7c4f00000d2f6e6f6465 5374726174756d2f0000000002301b0f00000000002321030ea665338c0be3166f415e396760875 bd57a545f7b8637328385ddaca4dd909dac10270000000000001976a91459701552d62a31e33ef2 d9158100cabe4a2f2c3188ac0000000000"],"id":1407530378844}
2014-08-08 16:39:38 [Pool]  [tekcoin - sha256 (pos)] (Thread 1) rpc error with daemon instance 0 when submitting block with submitblock {"code":-22,"message":"Block decode failed"}

[GrandMasterB]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

http://3.bp.blogspot.com/-lOJqzyN2fo8/Uz8xTKjibRI/AAAAAAAAgxA/kgXYlY0P3Zg/s1600/billions-and-billions.jpg

sorry had to post it for a lol, but who really knows unless we test it out i guess.

Reminded me of an old Leslie Nielsen Sci-Fi (Forbidden Planet?) where this guy pointed at a wall with a finite number of clocks (20ish?) and said "ten times ten time ten to infinity!".

[dickwhite]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

- So far, growth has outpaced inflation.
- 30 days is a long time in the cryptoworld. Many don't have the patience to stake.
- Low, consistent POW reward.
- At any given time, many coins are parked on Cryptsy likely in cold storage.
- Coins do get lost.
- Some who hold TEK won't, can't or will forget to stake.
- Increasing difficulty will eventually limit POS rewards.
- Increasing utility, distribution, value and velocity will undermine staking.
- If all else fails, the code can be adjusted to compensate.

[Trololoh]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

- So far, growth has outpaced inflation.
- 30 days is a long time in the cryptoworld. Many don't have the patience to stake.
- Low, consistent POW reward.
- At any given time, many coins are parked on Cryptsy likely in cold storage.
- Coins do get lost.
- Some who hold TEK won't, can't or will forget to stake.
- Increasing difficulty will eventually limit POS rewards.
- Increasing utility, distribution, value and velocity will undermine staking.
- If all else fails, the code can be adjusted to compensate.

Then we can also add that TEK is quite "old", see op for the launch date.
If you check the trading history you will see that TEK has been a steady performer.
Get some now while they are still cheap and see for yourself ! 

[jk9694]

Can anyone tell me what version of the block template TEK uses?  Is it v3 or v4?

Thanks

[GrandMasterB]

The wallet can't seem to synch to the tekcoin network?

[jk9694]

Did you set up your config file?

maxconnections=50
addnode=184.155.117.207
addnode=212.225.158.197
addnode=24.84.213.145
addnode=198.14.193.179
addnode=74.111.113.37
addnode=68.61.25.14
addnode=5.150.214.19
addnode=64.251.188.32
addnode=108.58.12.53
addnode=81.106.149.139
addnode=162.243.43.190
addnode=159.20.131.162
addnode=66.85.144.228
addnode=98.225.0.181
addnode=213.21.32.89
addnode=184.155.117.207
addnode=75.111.65.232
addnode=82.211.31.113
addnode=212.1.213.58
addnode=188.252.16.109
addnode=24.7.226.120
addnode=77.193.166.129
addnode=184.155.117.207
addnode=212.225.158.197
addnode=24.84.213.145
addnode=198.14.193.179
addnode=74.111.113.37
addnode=68.61.25.14
addnode=5.150.214.19
addnode=64.251.188.32
addnode=108.58.12.53
addnode=81.106.149.139
addnode=162.243.43.190
addnode=159.20.131.162
addnode=66.85.144.228
addnode=98.225.0.181
addnode=213.21.32.89
addnode=142.129.4.173:56183
addnode=99.69.106.28:51748
addnode=185.18.61.210:9608
addnode=98.233.129.24:55962

[GrandMasterB]

Not sure what you mean. I downloaded the wallet and opened it. doesn't it normally synch to the network on its own?

[Biomech]

Not sure what you mean. I downloaded the wallet and opened it. doesn't it normally synch to the network on its own?

Not necessarily.

Make a text file called tekcoin.conf and copy the text with the nodes into it, and put it in your data folder. In windows that will be users\username\appdata\roaming\tekcoin

That's a hidden file, so make sure you show hidden files before you go looking for it

[johan11]

When will the new version wallets - stake (weight coins) will be reset, or how it will be? I weight about 500 and I have no stake. Thx for reply

[gribgo]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

- So far, growth has outpaced inflation.
- 30 days is a long time in the cryptoworld. Many don't have the patience to stake.
- Low, consistent POW reward.
- At any given time, many coins are parked on Cryptsy likely in cold storage.
- Coins do get lost.
- Some who hold TEK won't, can't or will forget to stake.
- Increasing difficulty will eventually limit POS rewards.
- Increasing utility, distribution, value and velocity will undermine staking.
- If all else fails, the code can be adjusted to compensate.

Actually what makes it afloat is the demand! If you look at it as a software miner with predictable amount of coins mined every 30 days - then it is better then some hardware that will mine less as the difficulty goes higher and also you can invest as much as you want and get exactly 40% so you don't have to spend 10000$ on the hardware miner... you can just buy 10$ of TEK// also you don't have to wait for hardware to be actually made and shipped to you// TEK is fast// No electricity bills to pay as if you had hardware miner that works 24/7...
 
So the DEMAND forms from people who wanted to mine and buy miner, but are smart and BUY TEK instead!

Peace to to you people

[GrandMasterB]

Not sure what you mean. I downloaded the wallet and opened it. doesn't it normally synch to the network on its own?

Not necessarily.

Make a text file called tekcoin.conf and copy the text with the nodes into it, and put it in your data folder. In windows that will be users\username\appdata\roaming\tekcoin

That's a hidden file, so make sure you show hidden files before you go looking for it

TY guys. Figured out the file. For the past hour I've downloaded 0 blocks though. I can only get 1-6 connections going...

[dyoungii]

Try this I pulled all my current connections off my wallet server plus nodes posted by others.


maxconnections=50
addnode=184.155.117.207
addnode=212.225.158.197
addnode=24.84.213.145
addnode=198.14.193.179
addnode=74.111.113.37
addnode=68.61.25.14
addnode=5.150.214.19
addnode=64.251.188.32
addnode=108.58.12.53
addnode=81.106.149.139
addnode=162.243.43.190
addnode=159.20.131.162
addnode=66.85.144.228
addnode=98.225.0.181
addnode=213.21.32.89
addnode=184.155.117.207
addnode=75.111.65.232
addnode=82.211.31.113
addnode=212.1.213.58
addnode=188.252.16.109
addnode=24.7.226.120
addnode=77.193.166.129
addnode=184.155.117.207
addnode=212.225.158.197
addnode=24.84.213.145
addnode=198.14.193.179
addnode=74.111.113.37
addnode=68.61.25.14
addnode=5.150.214.19
addnode=64.251.188.32
addnode=108.58.12.53
addnode=81.106.149.139
addnode=162.243.43.190
addnode=159.20.131.162
addnode=66.85.144.228
addnode=98.225.0.181
addnode=213.21.32.89
addnode=142.129.4.173:56183
addnode=99.69.106.28:51748
addnode=185.18.61.210:9608
addnode=98.233.129.24:5596

[ryanb]

any update on when the new wallet will be released?

[GrandMasterB]

OK managed to find half. That got the ball rolling. Should be synched soon enough.

[dickwhite]

So the DEMAND forms from people who wanted to mine and buy miner, but are smart and BUY TEK instead!

Peace to to you people

Haha, I was a bit late figuring that out -- mining is a losing proposition. But now I'm a happy staker.

Peace to you, brother.

[mmfiore]

How much longer until staking fixed?

[GrandMasterB]

Yes. And how do you stake? I was going to buy some on an exchange now that I have the block but I don't know how I'm going to go about it. it isn't possible on the wallet?

[GrandMasterB]

Can someone help me out with understanding how a currency that potentially inflates 40% inflation every 30 days is viable?

- So far, growth has outpaced inflation.
- 30 days is a long time in the cryptoworld. Many don't have the patience to stake.
- Low, consistent POW reward.
- At any given time, many coins are parked on Cryptsy likely in cold storage.
- Coins do get lost.
- Some who hold TEK won't, can't or will forget to stake.
- Increasing difficulty will eventually limit POS rewards.
- Increasing utility, distribution, value and velocity will undermine staking.
- If all else fails, the code can be adjusted to compensate.

Actually what makes it afloat is the demand! If you look at it as a software miner with predictable amount of coins mined every 30 days - then it is better then some hardware that will mine less as the difficulty goes higher and also you can invest as much as you want and get exactly 40% so you don't have to spend 10000$ on the hardware miner... you can just buy 10$ of TEK// also you don't have to wait for hardware to be actually made and shipped to you// TEK is fast// No electricity bills to pay as if you had hardware miner that works 24/7...
 
So the DEMAND forms from people who wanted to mine and buy miner, but are smart and BUY TEK instead!

Peace to to you people

This works if there is a cap on coins. I read in one place it was 100 million coins. I read in another that it is limitless?