Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico - page 241. (Read 446060 times)
Thanks, Sounds good to me
Does this mean we'll have to wait 30 days or until your coins stake Biomech, to make sure the wallet is working correctly?
Will we still receive our 40% stake on our coins for this month? or are we going to lose a months staking interest?
I'm sure the same questions are going through everyone's mind!
Thanks
Will we still receive our 40% stake on our coins for this month? or are we going to lose a months staking interest?
I'm sure the same questions are going through everyone's mind!
Thanks
To my knowledge, nobody has staked yet, and won't before the new wallet is actually released. It, if I understand correctly, will require a hard fork to get the staking going again.
What I'm testing is to make sure that the wallet syncs properly and is keeping up with the correct blockchain. The fork will be at some point in the future, and announced well ahead of time. Your staking weight will not be affected, and when it does stake it will be the correct interest for the amount of time. It will just be a longer than usual amount of time.
any projected date on the new wallet?
No PoS blocks have been minted for about 10 days. With everyone's help a few different versions of a possible fix are being tested. It is going slower than i hoped, of course i want a instant fix. I am as anxious as anyone to get it finished. I am still confident that we can get a fix soon. I am trying to coordinate this fix and help it along the best i can, right now that has been gathering info and sharing it between diff devs, compiling and testing.
I can't speak for everyone but I prefer a thorough, if slow fix to a hasty one any day. I understand that some may be depending on this income but this is a hard fork and must be executed correctly to protect/secure everyone's investment. For what it's worth, I think you're doing the right thing here by erring on the side of caution. Oh, and thanks for the updates.
+1
Rushing a fix could cause indeed havoc, so please take your time with this.
Worst part is that TEK owners have to wait, but on the plus the coins gain a lot of weight + interest.
No PoS blocks have been minted for about 10 days. With everyone's help a few different versions of a possible fix are being tested. It is going slower than i hoped, of course i want a instant fix. I am as anxious as anyone to get it finished. I am still confident that we can get a fix soon. I am trying to coordinate this fix and help it along the best i can, right now that has been gathering info and sharing it between diff devs, compiling and testing.
I can't speak for everyone but I prefer a thorough, if slow fix to a hasty one any day. I understand that some may be depending on this income but this is a hard fork and must be executed correctly to protect/secure everyone's investment. For what it's worth, I think you're doing the right thing here by erring on the side of caution. Oh, and thanks for the updates.
While things are being recoded, maybe we should consider a total coins amount of 100 million or 1 billion.
Jason
Jason
well, that would effectively be a cap on the 40% monthly staking interest.
Once the coin were to reach 100 million or 1 billion (whichever was chosen as the limit), the staking would have to stop.
I don't see how that would work. We all use Tek because of its unique staking.
Hopefully, by then, a flourishing TEK economy will give the coin utility and value. I believe the high staking rewards are necessary to build the community and will thus largely benefit early adopters only.
No PoS blocks have been minted for about 10 days. With everyone's help a few different versions of a possible fix are being tested. It is going slower than i hoped, of course i want a instant fix. I am as anxious as anyone to get it finished. I am still confident that we can get a fix soon. I am trying to coordinate this fix and help it along the best i can, right now that has been gathering info and sharing it between diff devs, compiling and testing.
While things are being recoded, maybe we should consider a total coins amount of 100 million or 1 billion.
Jason
Jason
well, that would effectively be a cap on the 40% monthly staking interest.
Once the coin were to reach 100 million or 1 billion (whichever was chosen as the limit), the staking would have to stop.
I don't see how that would work. We all use Tek because of its unique staking.
Al pools down at current time? DSync for sure, Central Cavern gone, can't find any of the ANN post listed pools running.
http://sha256d.ispace.co.uk/coindetails/?coin=tek
Al pools down at current time? DSync for sure, Central Cavern gone, can't find any of the ANN post listed pools running.
While things are being recoded, maybe we should consider a total coins amount of 100 million or 1 billion.
Jason
Jason
From earlier posts, I gather that the 100m cap is the number of coins in ONE transaction. But maybe prior to the official release, maybe the dev team could confirm this again, now that they're hands deep in the code?
Does this mean we'll have to wait 30 days or until your coins stake Biomech, to make sure the wallet is working correctly?
Will we still receive our 40% stake on our coins for this month? or are we going to lose a months staking interest?
I'm sure the same questions are going through everyone's mind!
Thanks
Will we still receive our 40% stake on our coins for this month? or are we going to lose a months staking interest?
I'm sure the same questions are going through everyone's mind!
Thanks
The new wallet is being tested, I'm one of the testers. I figure I'm a huge cheerleader, I can be a guinea pig too 
I don't have a time line for you, as there have been some things outside of crypto affecting the dev team. Hang loose a little longer, it's being fixed.
I don't have a time line for you, as there have been some things outside of crypto affecting the dev team. Hang loose a little longer, it's being fixed.
While things are being recoded, maybe we should consider a total coins amount of 100 million or 1 billion.
Jason
Jason
Awesome thanks 
How much longer until staking fixed?
Thundertoe,
Any updates?
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?
1. Buy some TEK at the exchange.
2. Transfer them to your wallet.
3. Wait 30 days or more (the hard part).
4. Unencrypt your wallet (but don't unlock it).
5. Leave the wallet program running, unencrypted, or shut it down and restart it from time to time, unencrypted.
6. Wait, as patiently as you can. Within a day or three (more or less) you will see a transaction something like: 09/08/2014 13:52 PoS Mined (n/a) 123.45 where the fields are date, time, type, address, and amount.
I think that's everything - feel free to correct, everyone.
4 and 5 are backwards. Unlock it but don't unencrypt it. Or don't encrypt it in the first place if you are in a secure enough place, I suppose.
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?
1. Buy some TEK at the exchange.
2. Transfer them to your wallet.
3. Wait 30 days or more (the hard part).
4. Unlock your wallet (but don't unencrypt it).
5. Leave the wallet program running, unlocked, or shut it down and restart it from time to time, unlocked.
6. Wait, as patiently as you can. Within a day or three (more or less) you will see a transaction something like: 09/08/2014 13:52 PoS Mined (n/a) 123.45 where the fields are date, time, type, address, and amount.
I think that's everything - feel free to correct, everyone.
Edit: errors corrected. Yikes! Thanks, Biomech, for noticing. My only excuse is that I was being reminded that dinner was getting cold as I was writing the original post.
Tek price is starting to look attractive.
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?
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