Topic: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico - page 64. (Read 446099 times)

i sent them a pm

There is something you do not understand. The person/people is doing it on purpose to keep diff high.
Thus why we need a hard fork to force them to update.

Some might do that, most won't...problem potentially largely cleaned up without the risk and pain in the ass an actual fork brings.  If it doesn't work and people actually think its that big of an issue then go for a fork. 

And remember some micro stakers keeping the difficulty up are not a bad thing depending on the point of view...network security has its benefits.

No you need a fork, or they could simply keep using the old version and micro stake again.

Micro staking issue could largely be cleared up with a simple tweak rather than a fork.  If the default split & combine default thresholds were increased it would go a long way.  Many users do not use coin control let alone tweak settings through the console window so having the option to increase it isn't enough, the default value should be much higher.  The current max user setting is 15,000.  A default of 5,000 or 10,000 would prevent a lot of new wallets from ever getting messy.

Yes I agree we do need to be careful what we wish for. That is always good advice to follow. In this case I believe that you have misread what I was wishing for and then made a false assumption based upon not fully understanding my intent.

My first point to make is that I am not asking for the system to be modified in such a way to grant everyone 40% interest. I am trying to expose that the system appears to have a flaw in the distribution process. This flaw is being exploited by one user and so that user is controlling the difficulty and causing an unfair distribution of coins. This whether you recognize it or not is a far greater threat to coin value than 40% interest again. I believe it was the intention of the designer of this crypto-coin to increase the difficulty if many people were participating in the system and staking increased. In this case the difficulty should increase to control inflation. That is fine and dandy but what a single user is now doing is that he or she is simulating hundreds of users with having many smaller blocks staking every minute. This is choking the system and causing an unfair distribution of the wealth. This is I am very sure not the intention of the designers of crypto-coins.

I know this because my wallet had done the same thing a while back. It was unintentional and when I was alerted to the problem by reading this forum I took prompt action to rectify the situation.

The throttling mechanism that I am suggesting is to help insure a fair distribution of wealth while at the same time allowing the difficulty to go up if many users join the system. One user should not be able to single handily dictate the difficulty of the entire system.

What if the user whom ever it is decides not to cooperate, then what. Worse yet what if others decide to do the same thing pretty soon the interest rate drops from 5% to 2% to .5% then TEK coins main attracting point as a high interest POS coin is no longer a valid claim. I think that the closure of this exploit loop hole should not be left to the hoped for good will and honesty of the users. It should be enforced by the network. It is best to always assume the worst case when humans and money are concerned.

Again my recommendation is to employ a throttling mechanism in the algorithm so that if a particular user is getting to many blocks that wallet is temporarily disabled for a time so that other users can have a fair chance at getting a block award.

Remember crypto currency is still in its infancy and is still experimental in nature. We have uncovered a defect in the system and so I believe we should react to the defect and repair it in order to keep the coin healthy.

We need to be careful what we wish for. If all the existing coin started staking at 40% right now, when volume on the exchanges are low like they are, can you imagine what that would do to supply, and hence the price of TEK?  Lets get the price/volume up, get listed on a larger exchanges, then worry about the micro-staking issue.

Another possible solution for micro-staking problem....

Create an updated wallet that has a messaging function built in and a chat function built in. Chat function like the verge wallet. The person or persons who are micro-staking may not be aware of what they are doing to cause harm to the system. With a messaging system we can alert them to make bigger blocks and stake less often. As an alternative to this idea build into the wallet a staking thermostat that turns staking off for that wallet if staking exceeds a certain rate. When the difficulty drops to certain acceptable level then staking can automatically turn on again.

My question is what happens if many micro-stakers join into the network. The system will completely bog down. We need to have some sort of throttling mechanism in place to prevent both intentional and unintentional micro-staking from occurring.

I was unaware of that, and I trade there Tol' ya my life is crazy. That's actually something that should be advertised heavily.

You actually already have that with https://www.cryptopia.co.nz/MarketPlace  ,

From there you can auction or just list items for sell.
And you can select Tek as the only currency for payment. 

 

Yes, I agree with what you say. All the coins out there need to take it to the next level. The crypto currency world needs to turn it up on the marketing end big time. There should be thousands of sights using crypto currency to buy and sell goods. That is how it will become main stream. We start first with the mom and pop websites. Get them on board with the technology that helps them sell their goods for crypto coins along side of credit cards and paypal. Once we get hundreds of sites on board then we can go after the bigger sites like ebay. The goal ultimately is to have crypto coin usage at a level as large as paypal. When the usage becomes that high the demand goes way up and the price of the currency will sky rocket. Use the same kind of technology that paypal uses. Make it easy for people to use tek coin. Make it easy for website people to install a cart that uses crypto currency. Follow the paypal example supply a little code and add a button on the website to use tek or any coin for that matter. That should be the vision.

This should be branded on to the forebrain of any coin developer. It's relatively easy to create a coin, took me less than a year to figure it out with minimal guidance and minimal time. Figuring out a use for it, that's a whole different animal.

I've suggested this before, and was even planning on doing it before my life got too crazy for any side projects, but I thought a bartering/auction site denominated in TEK would be a good idea. Special emphasis on technology products (and currency, of course  ), but no restrictions on what could be marketed.

I see a lot of talk about people wanting to see the price of tek increase. I would love that as well. The best way to make the price of anything go up is to increase demand of that item. The best way to increase the demand of any crypto currency is to increase the currency's usability. What I mean is to have a crypto currency used more to purchase goods and services. The best way to increase usability is to make the currency available to be used as a currency on websites that are selling goods ands services. Coins that find a nitche that enable them to be used to trade for goods like casino coin (can use at a casino) or game credits (can be used for gaming) will have increased usage and therefore higher demand and a correspondingly higher price. My advice is to develop a market place for tek coin. Develop a control that can be used on websites for purchasing items. Once people can use tek coin for purchasing things the value will sky rocket. This is true for any crypto currency. We must create and expand market places that use crypto currencies.

We must develop a dynamic purchasing product that can be bolted into websites. The most appropriate websites for tek coin would be technology websites. That's the market to go after.

I'm trying to get ahold of him. I have fairly direct access Sorry, I haven't been on this thread in a couple days.

Hit replay !
(Or start reading some older posts about whats going on...)   

They wont sell, and nobody is buying as well...
It could go to 1k sat again with volume and buys.

As stakers see that 40% is not doable anymore. They won't sell their coins cheap.

We need volume on yobit...remember guys it was 2-5k sat on cryptsy for a year time. That is solid..

Has something changed in the staking algorithm? I last staked 20 days ago and my wallet still says I have 26 days to go. I am at 2.3.0.0

As far as recent updates, Thunder posted this not long ago.