Post
Topic
Board Announcements (Altcoins)
Re: [TEK] TEKcoin Hi-PoS hybrid pos/pow no premine/ipo/ico
by
Joebwan
on 29/02/2016, 13:54:36 UTC
I'd hate this coin to go the same way as Ratecoin, where the micro-stake gamers have put such a stranglehold on that coin that only they can effectively mint new coins. When something like this happens, the lion's share ends up in the hands of a few and other people lose interest. Literally. The price then plummets.

The micro-stake gamers switch off their stranglehold occasionally to stake at the 40% max and then switch the micro-stakes back on so that the rest of us just get crumbs. Let's crash the price and flush them out!

The difficulty is consistently so high now that Thundertoe needs to draw a new graph on the OP to show the stark reality of the diminishing returns. We are off the scale. The difficulty at the moment of writing this is 0.0233.

After my next staking, I plan to beat the gamers at their own game. Give them a taste of their own medicine. I'm not going to sell at a ridiculous price. I'm going to split my not-inconsiderable hoard into micro-amounts. I suggest that other like-minded people do the same. Make sure that the gamers don't get the 40% max. That will do two things:

1)  when the price crashes further, that could give us the opportunity to buy Tek at a lower cost, if we so wanted; and
2)  it will force Tekcoin to become useful and thrive, or ...

What have we got to lose?

Or...you could wait for the gamers to 'switch off' as you call it. If you have your TEK in one address, then take advantage of the lower difficulty when they do.

You doing the same thing they are doing is dumb. It would just make the situation worse. All to teach them a lesson. Then we all suffer.

No reason to be selfish.  I hate what is happening as much as the next person, but being part of the problem is not going to make things better in the long run.

Fair point. But it is the micro-stakers who tend to monopolise the 40% payouts and then flood the market with Tek from their ill-gotten gains, pushing the price down with every payout.

By gaming the gamers, we could ensure that they don't get 40% anymore and turn off our micro-stakes at an appropriate time. One third in micro-stakes in a separate wallet on a solid state drive, combined with a two thirds block punch on another could K.O. the micro-parasites. It may be dumb, but human beings have an irrational side to them especially when revenge is concerned.

I see your point, it just seems to me that our efforts could be better directed in actually fixing the issues instead of playing some end-around game to stop folks who are taking advantage of a flaw in the system.  We do this elaborate scheme to stop the gamer this time, then have do do the whole thing again each time some idiot decides that he wants to try to manipulate TEK? It sounds exhausting.  Why not just fix it correctly the first time?

The gamer has to wait for the difficulty to drop same as us, once he turns off his 'micro-staler' so to speak. It doesn't drop instantly. If we are paying attention, we stake too.

I say lets hard fork the coin and be done with it.