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

[Biomech]

Just to let everyone know... Just bought few TEK from cryptsy, did withdraw, and minutes later received it...
Seems they are sorted. (Test first to be safe IMO)

There is nothing  new for me. Still 1775 TEK pending.

They only pay small amounts immediately.
For larger amounts, they do not have the money. Why pay, when you can  40% more on Monday.

nope. they have staking disabled.

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[Biomech]

Any mac users out there that can compile a wallet for mac, it would be greatly appreciated. To my knowledge, everybody currently working on the wallet is either a Windows or Linux user.

[vancefox]

Quick, important, question...

Do we have a list of all pools that have made the switch or will be making the switch prior to the fork?  I'd like to make sure that I'm not going to mine on a bad chain.

[Biomech]

Quick, important, question...

Do we have a list of all pools that have made the switch or will be making the switch prior to the fork?  I'd like to make sure that I'm not going to mine on a bad chain.

It's a very good question. I don't have the answer, though this change shouldn't affect Proof of Work mining in the least. I'm not certain of that, however, and if nobody else has contacted the pools, I will.

I know of dsync and miner's point. I'll check for others.

[Jamesco]

Tek markets looking at a a huge artificial rise due to lack of supply as people can't give up their stake weight. Then by the looks of it a crash as ~400,000-700,000 TEK attempt to stake all at the same time while a nice portion of that goes to market. Then race to market ensues. First in best dressed. Unless of course everyone decides to compound their stake. But that's a lot of coins to compound. I could be wrong though, on the bright side hopefully this allows the market stake cycle to come back in again.

[Biomech]

Tek markets looking at a a huge artificial rise due to lack of supply as people can't give up their stake weight. Then by the looks of it a crash as ~400,000-700,000 TEK attempt to stake all at the same time while a nice portion of that goes to market. Then race to market ensues. First in best dressed. Unless of course everyone decides to compound their stake. But that's a lot of coins to compound. I could be wrong though, on the bright side hopefully this allows the market stake cycle to come back in again.

As a general rule, I'd agree with you, but this issue has given me hope.

During this whole period where we were unable to stake, and where updates were haphazard (no dig at the devs, I was involved and there was a lot of stuff that happened IRL to the people involved at exactly the wrong moment), THIS coin's community didn't panic. I expected massive dumping, twenty pages of FUD, ten pages of scam accusations, and some good old fashioned panic. And that would have been day 1 for most coins.

Instead, most everyone kept their head, or at least held their tongue, and let us get things sorted. Given that, I think this coin's community has a better class of people than a lot of our competitors. Maybe it won't go wild on monday. And if people DO hold, next month's stakings ought to reward them handsomely. I have some personal shit going on that very likely will make me sell some of my stake, but not a hell of a lot. I'm talking in the neighborhood of a few hundred coins. If I can avoid it, I won't be selling a goddamn thing because I haven't reached my staking goals yet.

My thought is that if the majority of us sell just a bit to take some profit or cover some costs, the market will continue to rise, or at least remain stable. As long as everyone keeps their heads, everyone keeps their heads.

Meanwhile, the development continues, and we should have a much nicer wallet in the near future. Nobody from Thundertoe on down the line knows exactly when that will be, but it's also not a major thing as the base functionality of the coin will be restored. All is well, just a bit delayed

[Jamesco]

Great reply, I don't expect a coin killing dump at all and you are definitely on the ball about the maturity of the community.There will however be quite an instant increase in supply and I cant really shake those numbers away. When we look at what happens to the price when supply dries up and we are so very happy, we praise the market and TEK's coin dynamics. When supply surges upwards to not expect an equalising price movement downwards is especially hopeful.

At the end of the day for people holding onto their stake weight you basically have to factor in ~extra% of coins earned from your stake and assume the market price won't drop by more than that % if you're looking to sell stake for a profit. Otherwise I guess compound. To be fair though I'm not taking into account increased demand for the coin since last month which could help as well. Anyway I'm looking forward to next week regardless!

[johan11]

Here is a static windows build, should have no dll's.

https://www.dropbox.com/s/8tle06pcrwx1gwy/Tekcoin-qt.zip?dl=0

Its works!!, now time to repair rich list - not update

[vancefox]

So an update on Cryptsy:  My withdrawal came through just a few minutes ago.  I just don't like the response I got at first.  To be fair, Marjorie sent me a personal email so I knew it want computer generated and the next day (today) I received my coins.

On another note: I'd be interested in buying your stake Biomech if you'd like to do an off market trade.

[Tupsu]

Cryptsy works well most of the time, and has the benefit of being one of the largest exchanges and being high volume. But in my opinion, TEK has too much risk only using one exchange. All of those complaining need to put their words to action and get a new exchange. I recommend coin-swap, they do charge 1 btc, but can get you up and running in 24 hours. Allcoin is also an awesome exchange, but you would have to do some work in the trollbox to get on there since voting is now disabled.

https://coin-swap.net/newcoin

Still     929 TEK status pending.  845TEK  Processed.

I agree with this.     

...   TEK has too much risk only using one exchange ....

[Ense04]

Cryptsy works well most of the time, and has the benefit of being one of the largest exchanges and being high volume. But in my opinion, TEK has too much risk only using one exchange. All of those complaining need to put their words to action and get a new exchange. I recommend coin-swap, they do charge 1 btc, but can get you up and running in 24 hours. Allcoin is also an awesome exchange, but you would have to do some work in the trollbox to get on there since voting is now disabled.

https://coin-swap.net/newcoin

So how does this process work? Tek would be added to the coin-swap list and the community all contributes on the site until it reaches 1 BTC, then it is added to the trading platform?

[vancefox]

That's how I interpret it.  Although I'm not sure I like that exchange... Lots of coins dropped and they only guarantee the spot on their exchange for 3 weeks...

If they don't make enough, in their opinion, they drop it even if the coin was added with 1 btc..

Cryptsy works well most of the time, and has the benefit of being one of the largest exchanges and being high volume. But in my opinion, TEK has too much risk only using one exchange. All of those complaining need to put their words to action and get a new exchange. I recommend coin-swap, they do charge 1 btc, but can get you up and running in 24 hours. Allcoin is also an awesome exchange, but you would have to do some work in the trollbox to get on there since voting is now disabled.

https://coin-swap.net/newcoin

So how does this process work? Tek would be added to the coin-swap list and the community all contributes on the site until it reaches 1 BTC, then it is added to the trading platform?

[Ense04]

Thats why we need The MarketMaking multipool. So we can point all our haspower to this pool and mine for other most profit altcoins (scrypt, sha256,x11, ? etc.) Auto-check for most profit coin every hour (or we can decide on how often later) Then we can sell this mined altcoins using Cryptsy API for BTC and using the same API to place the TEK BUY order with this amount of BTC/// So if this multipool will have 4500 Ths SHA256 power + 600MHs Scrypt power (2x Excalibur 7) and 30MHs X11 then (according to Coinwarz calc) this multipool can create atleast 270$ (2951,368 TEK) BUY order every day or 123 TEK BUY order every hour!!!+ today trading volume of 290$ (according to Coinmarketcap.com)  That can create more liquid market + more trading volume... and everybody can sell his stake coins when he wants and know that there will be BUY order every hour!

Thundertoe! I would like you to share of what you think of this multipool Idea and make a comment as a well known member of this community?!
Thank you//peace
[/quote]

I really like the idea, as i like to mine/hold TEK. This would maximize the amount of TEK i can get by mining per day and cut the amount of work down to do it.  Increased daily market volume i think would be a great added benefit.
[/quote]

Has there been any further discussion on this idea?

[David Latapie]

Richlist

While richlist is cool to see where you rank vs others, why do any of us NEED it?
I just don't seen the big deal if it even exists.

It is not about being useful (we all know richlists are manipulated). It is about being request and increasing confidence - who said humans are rational?. A case of "useless but necessary".

Min stake size

Just wondering what do you guys recommend as minimum stack size of coins ?

Since TEK has no max_subsidy unlike CAP or HYP, there is no economical reason to have a particular stack size. I suggest you to keep them al together, you'll stake faster.
If one day TEK implements max_subsidy, then a maximum stack size would make sense (but a minimum size would still not).

presstab, tranz, correct me if I'm wrong.

Updating wallet

How do I get the wallet updated?

Step by step instruction please.

For Linux, installation is just one line of code:

mkdir -p ~/cryptos && cd ~/cryptos && rm -rf TEK && git clone git://github.com/maxxine/TEK && cd TEK && qmake-qt5 tekcoin-qt.pro && make && ln -s ~/cryptos/TEK/tekcoin-qt ~/Desktop/TEK

&& ln -s ~/cryptos/TEK/tekcoin-qt ~/Desktop/TEK is only if you want to create a shortcut on your Desktop

Still for Linux, updating should be just one line of code too:

cd ~/cryptos/TEK && git pull && qmake-qt5 tekcoin-qt.pro && make

[dickwhite]

Cryptsy works well most of the time, and has the benefit of being one of the largest exchanges and being high volume. But in my opinion, TEK has too much risk only using one exchange. All of those complaining need to put their words to action and get a new exchange. I recommend coin-swap, they do charge 1 btc, but can get you up and running in 24 hours. Allcoin is also an awesome exchange, but you would have to do some work in the trollbox to get on there since voting is now disabled.

https://coin-swap.net/newcoin

This would be good for the interim, however we're still forced to completely trust 3rd parties to exchange coins. I would prefer any bounties go to putting TEK on a decentralized exchange like NXT's Multigateway asset exchange. Here's a link to some info:
http://cointelegraph.com/news/112175/nxt-decentralized-exchange-launches-with-btc-and-ltc
Not a perfect solution for sure, but miles ahead of what exists today.

[Dexpla]

Anybody had any luck getting their coins out of Cryptsy yet. I'm still waiting on a large-ish amount

[vancefox]

My 1100 coin withdrawal came through a couple hours ago

Anybody had any luck getting their coins out of Cryptsy yet. I'm still waiting on a large-ish amount

[Biomech]

Richlist

While richlist is cool to see where you rank vs others, why do any of us NEED it?
I just don't seen the big deal if it even exists.

It is not about being useful (we all know richlists are manipulated). It is about being request and increasing confidence - who said humans are rational?. A case of "useless but necessary".

Good point. I like that phrase My personal thought on it, is "why?" I can think of better things to brag about. But if it's wanted, and it harms no one, what the hell.

Min stake size

Just wondering what do you guys recommend as minimum stack size of coins ?

Since TEK has no max_subsidy unlike CAP or HYP, there is no economical reason to have a particular stack size. I suggest you to keep them al together, you'll stake faster.
If one day TEK implements max_subsidy, then a maximum stack size would make sense (but a minimum size would still not).

presstab, tranz, correct me if I'm wrong.

While technically correct, I still think this is not a good strategy unless you hold a very small amount. I'll detail my strategy here, and then say why I think it's better.
1st off, I'm breaking my blocks into a few days apart, blocks of 1000. Every time they stake, I leave them split, for now, but do a send on the next day to myself to make the block be a day apart. My goal is to have 30 1K blocks a day apart. Since this is a hybrid coin, that has nothing to do with moving the chain, PoW does that just fine.

But it does have to do with the health of the coin, and the market.

The reason behind this is that after the initial 30 days, I should on average have a block staking every day. Thus, if I NEED to sell for whatever reason, I have a bit to do so with, and I have plenty of immature coins to do so with. I have pretty good self discipline, but many don't. This has the added benefit of making you think about selling large amounts with a jaundiced eye, as it will interrupt your staking. It also, if enough people do it, tends to make a stable, steady market rather than large amounts of coins all hitting the exchanges at once and causing a price drop. And of course, if you don't sell any, you get a continuously increasing stake for later, when you do need money.

This, coupled with gaining commercial traction, will help to stabilize the market. 

Updating wallet

How do I get the wallet updated?

Step by step instruction please.

For Linux, installation is just one line of code:

mkdir -p ~/cryptos && cd ~/cryptos && rm -rf TEK && git clone git://github.com/maxxine/TEK && cd TEK && qmake-qt5 tekcoin-qt.pro && make && ln -s ~/cryptos/TEK/tekcoin-qt ~/Desktop/TEK

&& ln -s ~/cryptos/TEK/tekcoin-qt ~/Desktop/TEK is only if you want to create a shortcut on your Desktop

Still for Linux, updating should be just one line of code too:

cd ~/cryptos/TEK && git pull && qmake-qt5 tekcoin-qt.pro && make

It's not a bad idea to add STATIC=1, as that makes it so you can move the client to another computer without recompiling.  so you're last line would be make STATIC=1 -f Makefile. I build all my wallets this way, and it makes for better control, especially since I'm constantly experimenting. It DOES make the final executable program a bit bigger, as it compiles the necessary libraries into the program. Depending on your circumstances and ability to resist playing with your installation. (my ability in that arena is nonexistant ) An option to think about.

[Tupsu]

Still     929 TEK status pending.  845TEK  Processed.

929 TEK   Processed  2014-08-23 13:04:06

[Dexpla]

I just got my coins from Cryptsy yayyyyyyyyyyy