Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico - page 117. (Read 446058 times)

My point is - our coin is NOT what it used to be for all its life.. as we had well known figures in the formula when we plan our budgets.
Amount of coins, intrest rate, age... before this days everyone had chance to stake at 40% rate (0.0000x diff)
Now for the first time it looks like we are going to have the coin that is different from what is described at the Official Page.. its not High POS any more and that can drive people away from the coin!
We have to think NOT only about market conditions, but also the coin must perform the same way all the time so you can count on it (easy rules i.e. 40% at 30+ days) Now we have unknown Super Low Stake rate
If you want ~2% rate - go to hobonickles
If you want all your coin compressed to 100000hyp blocks to get 1000.. then go buy HYP
But this 40% is the main feature of the tekcoin and that what drives the demand... this mining is power efficient etc.
It is stupid to just cut the supply of the coin which main feature is something that can be promoted as the Virtual Mining contracts with constant outcome
peace

P|S why we must stay with something that novacoin has ? Perhaps// is this true that we have 95% diff rise because of ONE adress?
If this is the case, then it is bad for the coin? for all 95% of its users.. and we must take action if we see something wrong, so that we dont get into the same trabble in the future!

You could make an option for wallets over say 10000 coins to get a portion of all coins staked on the network.

This would essentially make any small wallets staking on exchanges share what they stake with a majority of coin holders.

Likewise. Well said.

I believe, as I mentioned previously, we should be targeting Cryptopia. If voting alone isn't going to get it done(and it's not) then perhaps we should consider crowd funding a dot pool to buy our way in. Having another exchange in case cryptsy goes down again would be a good safeguard. Being on another exchange that also gives TeK a LTC pairing would be deluxe imo.

Well said. Couldn't agree more.
We all got in knowing TEK has NVCS for inflation control. And it works. Believe it or not, high difficulty is a good thing. It means many are participating despite the diminishing rewards. The increasing price speaks for itself.
I think the best thing to do, besides periodic wallet updates, is do nothing to the protocol.  Serious investors expect stability from a 2-year-old coin. Changing it willy-nilly is the fastest way to destroy confidence.
If anything, we need to focus on getting another exchange, and preferably one with more volume than Cryptsy.

Storage?

From the hot I send here

BbkFQMz4kAXtGzSEcNua318tNAMbKvxiZ1

Currently those funds sit here after filling the wallet a few times

BdAWPXcvD66XU9mohPzRmLqatywGMsZHSz

BfE2Aa5STVvoaqTWHF67ySK7DWEUNBdg8U

What about the speed of how the difficulty drops? ANd I agree that there is risk, but lets just talk about options as the coin is for community, but not community is for the coin.

How about a confirmation of which addresses are Cryptsys?

Conspiracy theories  

We openly tell people we stake because if we said no that would be a lie

Occasionally we stake a few blocks either by mistake (missing config option) or when the offline wallets are brought online to fill the hot wallets

In the past we have tried staking to secure the network. Such as reddcoin which had a network security problem before switching to POS. But that was short lived as the community was obviously against it.

We don't stake for profit and don't actively try to stake any coin at cryptsy right now.

We believe keeping the market alive is far more profitable than dumping on the market with coins generated by our customers deposits.

Lastly if you read my post above we currently are not staking any tek on cryptsy.

We are only actively staking one coin right now and thats because the developer requested we do as the blockchain had stalled. I tried to find the message to remember which coin but i could not find it. Ill look more later.

You'd think this part would be a no-brainer that would go without saying...but it's clearly not when you look over the order book.

Coming up on two years for TeK, supply is 21.277m coins and it's getting increasingly difficult to create more. Where's the problem? 14.35m Bitcoin in circulation and it's exponentially more difficult to mine them. It seems to be working out okay for grandpa Bitcoin.

Ofcourse they are. Quote from another high POS coin thread:




It's incredible, unethical, but true. Currently craptsy receives more than 90% of profits from all TEK coins. Therefore, it is beneficial for him to keep the coins in small blocks. The only way to solve the problem described above (very smart guy BTW):


Guys and gals, do not keep high POS coins on exchanges!!!

I just want to confirm this is not cryptsy that is staking

Currently we are not staking any tekcoin

The storage wallet is offline

And the hot wallet hasnt staked a block in

"confirmations" : 92146,

I have given more info to blunder to prove this. But I dont want to make most of that info public

great post, definitely a risk of making things worse overall with any changes. We are coming up on 2 years old Tek birthday and things are going great for 2015 we must tread carefully.

Raising compound APY back up to 7400% isn't going to increase equality amongst TekCoin holders. The rich will continue to get richer...probably even faster as the "poor" dump their rapidly growing interest payments and the rich continue to pile up more Tek. In the fiat world equity disparity is often the result of a corrupt monetary system and bribed government officials. That is not the issue with TekCoin. The rich are getting richer here because they got in earlier(IOW risked capital sooner) and/or held longer. Neither of which is a good reason to "punish the rich". These are the folks that have been protecting the TekCoin blockchain before many ever heard of TekCoin. They're not villians, they're early adopters.

Tek is on a nice steady incline in market cap, why mess with it? Don't be like goobermint mucking around trying to fix stuff. The inflation controls are doing what they were intended to do. Compound APY is still over 500%. Suggest you not fix what ain't broken.

As to the issue of Cryptsy staking coins(if they are) I am 100% opposed...but then I don't understand people that leave high interest POS coins on exchanges anyway. Makes no sense whatsoever. Keep your coins in your own wallet and it won't be an issue.

Well!! Our little crypto-coin experiment shows that all of this is wrong and can be fixed!

That's life.  The rich always get richer.  It is unfortunate to have an exchange staking...

Also it is not good that bigger wallet can affect everyone.. then its rich are getting richer? but smaller holders get their TEK devaluated
we cant have the situation when some Exchange can manipulate the price of our coin just by locking\unlocking its wallet for POstake...
peace

P.S. And MAX reward shall not be set!!!! Amen

And what about the block management - divided into smaller after POS, a new version of wallet, which will divide the blocks up from 10,000? This will reduce the difficulty. More larger blocks - smaller diff. 

I think that (If poosible) setting hard 30% for 30 Days? 60% for 60Days and 90% for 90 Days (if you hold for that long) - this way we still have capital control as people have good reaseon to hold TEKcoins longer for stake.. And people play by the known rules and plan their bunget - which is much more important then cutting the supply in High POS coin.
Yes! the inflation will go lower the way it is now, but it makes it less attractive from the unic and main functionality of the TEKCoin..

I surely want to collaborate in making Tekcoin a more stable and strong coin

Wouldn't it be a good idea to state clearly on the OP (for example) what is the best/recommended behaviour a TEK investor should adopt?
I'm thinking about blocksize, keeping the wallet locked/unlocked, and so on... That would surely help building a better and stronger network/community for TEK.


PS: I'm pretty new in the cryptoworld, so if I ever say stupid things, just don't be mad at me

Very good point.  Things can be adjusted. Reaching a consensus on what is best is unlikely. However we may have a large majority of people in agreement on the direction they would like to see Tekcoin proceed. Perhaps it is time for all of us to collaborate, come up with a list of possibilities get some user feedback.