Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico - page 268. (Read 446060 times)

Quote from: Crypto_Enthusiast on June 24, 2014, 09:41:31 AM

Quote from: thundertoe on June 24, 2014, 01:40:27 PM

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction. TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

so it will cease to be mineable at 100million? is this correct?

No it will keep going as it is exactly right now forever the 100 million # actually refers to the max coins allowed in a single transaction.

raskul

sr. member

Activity: 434

Merit: 250

Quote from: Crypto_Enthusiast on June 24, 2014, 10:56:04 AM

Quote from: Crypto_Enthusiast on June 24, 2014, 09:41:31 AM

Quote from: Crypto_Enthusiast on June 24, 2014, 10:56:04 AM

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction. TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

so it will cease to be mineable at 100million? is this correct?

thundertoe

legendary

Activity: 938

Merit: 1000

Quote from: Crypto_Enthusiast on June 24, 2014, 09:41:31 AM

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

This was a common mistake around the time when TEK was made, the line that was "thought" to control mintage cap, really controls max amount of a transaction. TEK as with PeerCoin is coded for unlimited mintage. This is how the code is now.

"lets stop mintage vs infinite". There are merits to both directions. It is possible that a whole different idea will come along and be great for the endgame.

I tend to lean with the if its not broke don't break it crowd, its working great so far minting away. A very strong consensus should always be made in the community before any changes are put in. We have a great team and hardforked changes are always possible if there are any problems.

All ideas of course are welcome and encouraged, even strange ones as they may inspire others with something fantastic.

sneakgeekz

full member

Activity: 141

Merit: 100

I assumed the difficulty adjustments would lower the staking percentage extending the life of the coin. Huh

Crypto_Enthusiast

sr. member

Activity: 476

Merit: 250

Quote from: Crypto_Enthusiast on June 24, 2014, 09:41:31 AM

Quote from: Crypto_Enthusiast on June 24, 2014, 09:41:31 AM

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

I would like to know. I am looking for a long term coin, the first thing that springs to mind is that everyone will dump once this happens? Can someone please explain a way around this potential problem?

Thanks

raskul

sr. member

Activity: 434

Merit: 250

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

good question!

Crypto_Enthusiast

sr. member

Activity: 476

Merit: 250

Quote from: raskul on June 24, 2014, 07:50:50 AM

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

So what happens when all coins are staked and mined?

CentralCavern

newbie

Activity: 28

Merit: 0

well done to our friend JemHadar!!! Grin

Even little rigs can crack blocks on our TEK pool!

L@@K!! JemHadar has only 50GH/s!

http://www.centralcavern.uk/img/jemhadar.jpg

power up those old miners! get mining TEK with Central Cavern!

http://tek.centralcavern.uk

raskul

sr. member

Activity: 434

Merit: 250

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

however - the above table does not take into consideration mined coins - it only shows PoS coins, so MAXCOINS will be sooner.

rel-oad

newbie

Activity: 57

Merit: 0

I love tek, but such a shame as it'll only have 10-13 months more lifetime calculated by staking, maybe even less if you count the mining, as all coins will be staked and mined Sad

yup

moneysupply : 1,254,052.50351800

month one : +501,621.0014072 = 1,755,673.5049252

We'll have to see if this comes true. I suspect it'll be a lot lower.

raskul

sr. member

Activity: 434

Merit: 250