Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico - page 109. (Read 446085 times)

Anyone looking to get rid of some TEK, I am looking to add some more to my portfolio. I am looking to buy up to 300k @ 3000 sats. PM me if interested.

Just wanted to make clear my comments were not meant in any negative way towards DMD I was just using it as an example

I figured the plan was to eventually add something to limit the supply. There is plenty of time. And giving yourself more time will likely result in better solutions then setting a hard coded max supply

I was more pointing out that very few PPC/NVC forks have any sort of a cap. The cap is really defined by difficulty. At a certain point the difficulty and inflation will be offset by fee destruction. IF the difficulty ever gets high enough. If the difficulty doesnt get that high then there really is no cap.

Hey guys,

All this talk lately about max coins and inflation, and the return of .00006x difficulty has me seriously contemplating. And my conclusion: with such low difficulty so easily achievable, by perhaps a few whales adjusting their block sizes, exponential growth in the coin supply is inevitable.

At consistent 40% growth, and assuming all coins stake, by this time next year we'll have over 1.5 billion coins in existence, with no end in sight. That's a lot of coins. I don't think the current price will hold up. In fact, this kind of hyperinflation may actually undermine confidence. Yes, one can likely stake enough to stay ahead of price drops, but eventually you'll hit bottom. The future to me becomes uncertain.

I can't help but compare TEKcoin to Novacoin, another hybrid POW/POS with 100% advertised annual returns. Of course it's no where near that due extreme POS difficulty (+1.5). Despite its murky premine, the coin is popular, rising in value, and has low inflation and coin supply (+1.1MM). I could name off several others, but I think you get the point: low inflation with high difficulty works.

Therefore, unless we take measures to enforce inflation control, like max stake reward, I fear we will eventually drown in coins. I alone have the means to drive up POS difficulty, but I'm reluctant to do so for fear of becoming a pariah, and I believe it should be a community decision. I would rather simply move on.

I'm not saying this to initiate conflict, diss the coin or slight the dev. This is a marvellous project and achievement, and I will stay as long as I'm comfortable. But in the end, I will act in my best interests; there are just too many other good opportunities out there. I would love to hear others' opinions on this matter. Let's talk.

Sincerely,
Dick

sorry to disturb
but it did reach my ears there is a question about how DMD can promote to have a limited amount of total coins

and the answer is easy

we need like 30 years until this limit (4.3 million DMD) is close and we all know that the wallet that run DMD in 30 years will be different to the wallet that u see now

so its not of importance if there is any code parts in wallet now handling that and how

it is important that the wallet then will have the code parts

there is a clear commitment to have limited total coins amount from DMD Diamond Foundation

and there are lot ways to make this happen

just the most easy example would be tx fees are burned and POW/POS this way able mine/mint the tx fees

but we have 30 years to find other intersting paths to burn coins or other new mechanics........

but back to topic TEK i can guarantee u that i have highest respect for a coin that did choose clever path like

no premine no IPO no ICO with hybrid POW/POS (guess why )
in area limited total coins or not we did choose different design goal both valid
in my opinion its easyer to calculate with a limit amount and u know ur share of the total cake in advance and it doesnt get smaller day by day

but endless nice POS earnings can be sexy too
i just think longterm a coin must be more than a POS coingenerator
and that is our main focus this days to work on services and apps on top of DMD
but im sure TEK team have similar goals and so both coins will have a bright future

It's still based on bitcoin, so, yes, it makes it a higher priority to have a fee.

Does paying the fee improve the speed of the transaction? If not, is there any other advantage to paying the fee other than decreasing the supply?

Thanks, Mullick. There's at least one POS coin I've messed with that don't destroy the fees. I just don't remember which one

Yep they are

https://github.com/maxxine/TEK/blob/51049fcc6ffd01644f837b4778b3836c8b26ac06/src/main.cpp#L1612-L1615

I am not entirely certain that network fees are destroyed in TEK. In general, what Mullick said is true, though. The point is an inflation control mechanism. Every transaction reduces the available supply by X amount, which offsets production to some degree. Thundertoe, are fees destroyed?

Sorry for my ignorance, but I don't understand.

I set my transaction fee to 1 TEK because I wanted to support the miners and with TEK, 1 coin is next to nothing.  Does this just get destroyed?

Why not keep transaction fees for the miners with TEK?  As more people stake the difficulty goes up and wouldn't that cap the supply?

I know this is the wrong thread for this, but since we are talking about it already.  I know the DMD developers plan on only having 4.32 million coins or something like that.  If I remember correctly from that thread they said they wouldn't be destroying any coins.

I think I am misunderstanding something fundamental here.  Why destroy them at all, and instead just say there is going to be 1 billion TEK or 4.32 million DMD?

It would be easy to add but not practical

With bitcoin when the mining reward stops the only incentive to mine ad secure the network is transaction fees.

Transaction fees in PPC/NVC forks are destroyed. So if you set a cap on the supply there will be no incentive for anyone to secure the network

Eventually it SHOULD reach a point with enough adoption where the daily inflation is offset by the transaction fees being destroyed. So that in a way caps the supply but if difficulty drops then the chain is producing coins faster than it destroys them again


I guess you could set a cap. Then coins can only be produced as fast as they are destroyed. But I dont think it would be the best move

@mullick & @presstab

That is some good info!  Thanks!

There must be a way to add that into the DMD and/or TEK code though, right?

The CIRCULATION_MONEY is an unused variable and is not unique to DMD, in fact it is in MINT which a large amount of PoS clones stem from used it as a calculation in the pow reward. As you pointed out DMD has no max supply, like almost every other PoS coin.

Does DMD have a hard cap? Most pos coins do not

The following line is commonly mistaken as restricting the total supply. Which it does not.

https://github.com/DMDcoin/Diamond/blob/master/src/main.h#L38

As you can see by the following results its only a sanity check used for transactions. You cant create a single transaction greater than that size.

https://github.com/DMDcoin/Diamond/search?utf8=%E2%9C%93&q=MAX_MONEY

Unless the following line which appears to be unique to dmd restricts it

https://github.com/DMDcoin/Diamond/blob/master/src/main.h#L39

But I dont see that referenced anywhere else in the codebase.

The pos reward allows for endless creation unless otherwise limited

https://github.com/DMDcoin/Diamond/blob/master/src/main.cpp#L996-L1015


Im not trying to jump in the debate or anything. Just curious if dmd did set a cap as PPC/NVC have no cap themselves and all these coins are based on them. Very few pos coins have any sort of a supply cap.

There is a big difference between constructive criticism and trolling, don't you agree? If I am an investor and I hold TEK and I see something I do not like, for example unlimited number of coins, what course of actions should I take? 1) ask around and see if that issue might be fixed or at least explained to me why is it so, this way it might not be an issue anymore, 2) stay silent about it and hope things go well, 3) sell and get out

I would prefer option number 1 cause I hold TEK, I have almost ROIed from TEK and I do plan to increase my TEK holdings if everything goes well.

Actually the thing I hate the most is this communist style thinking, DONT ASK anything. As soon as you do, you are not welcome anymore. Well, I disagree and I will not let anyone silence me.

LOL!

I've been a bbs rat for 40 years. If I'm not gettin' trolled I figure I wasn't loud enough. I almost never take it personal. Those that know me know what kind of person I am, those that don't, fuck 'em with a lightpole.

The way you put things does come off a bit negative sometimes. No worries, some people just can't handle criticism, and I think even more just misinterpret.

@ crazyivan

The difference is that Biomech was endorsing TEK above all other coins in the TEKcoin thread. You were making snide remarks about TEK in the TEKcoin thread, like the obnoxious troll that you are, while promoting your other coin with your banner arse-end.

I tell you what sunshine, let's continue this conversation in the Diamond coin thread.

Nice, thx for this info. Just be careful of people accusing you promote HYP, TRK or NXT cause u did mention those.

@dave-ja-vu

Oh so sorry, I m gonna IMMEDIATELY remove my signature logo cause you do not like it. I m also going to immediately start caring what you think or what to see here or in any other thread.
SUCK MY BALLS MY FRIEND.

Cheers

@ crazyivan

You horrible little toad-troll. You come in to this thread with your faint praise, peddling your piddling FUD. You consistently leave a gripe, while touting your loud diamond coin logo out of your tail-end. Don't you know that's bad manners?

Everyone's on to you, you creep.