Post
Topic
Board Announcements (Altcoins)
Re: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico
by
dickwhite
on 22/11/2015, 16:20:48 UTC

Some people see large numbers of smaller amounts staking as a help to the network and a partial control on inflation; others see it as a possible security threat and/or a nuisance; and still others see it as a way to 'game' the system. Again, whether there is a problem depends upon your point of view.

There is a problem, and it's exponential supply growth. With no limit on supply growth, the price will drop accordingly. Has to. That's fine for large holders, who've lobbied to eliminate microstaking in the code so that they can always get 40% return thus staying ahead of inflation. Ultimately, it's a race to the bottom. If nothing else, greed will kill this coin.

Most other POS coins I hold have stake reward limits and, as a result, high difficulties. And these coins are apparently able to retain/attract users in spite of it because it makes them relatively scarce, valuable and more predictable. I realise monetary value isn't everything, but it's a lot to a coin that has no other functional purpose but speculation.

Once more, I implore the dev of this coin to consider my warning. I believe his motives are pure because this impending hard-fork is meant to eliminate a perceived injustice, and that's fine. However, this fix will only exacerbate the problem of unlimited supply growth. Eventually, we will all lose unless we bail out judiciously. And once the faithful have left, the coin will likely be abandon.

Just my thought. Thanks for reading.