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 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.
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.