TEKCOIN Hijacked So I was consulting with a very good client of mine named Ron, and I was teaching him about pools.
I was explaining that the best strategy is to only put JUST enough hash to a pool and target its blocktime.
So lets say that ABC coin has a block time of 1 minute. Lets say the pool is has a few workers, and its a sha-256 coin. Lets pretend that the total hash of the pool is about 1 Ths and difficulty is 190,000.
Lets assume the "net hash", or total hash of all the pools is 190,00 difficulty. This tells you, your pool has ALL the hash.
This is a good scenerio, that you can work with. When you look at the average block time in the dashboard, you want to get that as close as possible to match the block time.
Heres how: Lets say in the above scenario, your pool is taking 5 minutes to block. It is probably because you dont have enough hash on the pool. If you have a asic farm setup correctly, with multiple smaller miners, you slowly add a little hash about every few minutes until that average block time shows near the same as the block time of the coin.
Should you decide to "throw the farm" at it. It will spike the difficulty so high, that it will be impossible to mine, until you lower the hash.
This gets me back to my story.
So while Im teaching Ron about Tekcoin, he noticed that the "nethash" total was over 200THs. I had already explained that the payout on this coin was 1 coin, and that it was worth about 1200-1500 sat. So he asked me, why someone would point 200Ths to a coin that only needs about 2-3 Ths.
I explained to Ron that they have "Hijacked the coin". Basically nobody else can mine this coin, AND it will effect the difficulty on POS too, and it did. I usually get POS payments every few minutes 24/7, and I went a few days with nothing. So in essence they cut off the supply of tekcoin.
I explained to my client the reason they did this is they are probably a massive holder, and want to spike the price, and THAT is just what happend. Tekcoin at this moment is the highest it has been in many months at over 3400 sat per coin..
I was explaining that the best strategy is to only put JUST enough hash to a pool and target its blocktime.
So lets say that ABC coin has a block time of 1 minute. Lets say the pool is has a few workers, and its a sha-256 coin. Lets pretend that the total hash of the pool is about 1 Ths and difficulty is 190,000.
Lets assume the "net hash", or total hash of all the pools is 190,00 difficulty. This tells you, your pool has ALL the hash.
This is a good scenerio, that you can work with. When you look at the average block time in the dashboard, you want to get that as close as possible to match the block time.
Heres how: Lets say in the above scenario, your pool is taking 5 minutes to block. It is probably because you dont have enough hash on the pool. If you have a asic farm setup correctly, with multiple smaller miners, you slowly add a little hash about every few minutes until that average block time shows near the same as the block time of the coin.
Should you decide to "throw the farm" at it. It will spike the difficulty so high, that it will be impossible to mine, until you lower the hash.
This gets me back to my story.
So while Im teaching Ron about Tekcoin, he noticed that the "nethash" total was over 200THs. I had already explained that the payout on this coin was 1 coin, and that it was worth about 1200-1500 sat. So he asked me, why someone would point 200Ths to a coin that only needs about 2-3 Ths.
I explained to Ron that they have "Hijacked the coin". Basically nobody else can mine this coin, AND it will effect the difficulty on POS too, and it did. I usually get POS payments every few minutes 24/7, and I went a few days with nothing. So in essence they cut off the supply of tekcoin.
I explained to my client the reason they did this is they are probably a massive holder, and want to spike the price, and THAT is just what happend. Tekcoin at this moment is the highest it has been in many months at over 3400 sat per coin..
TEKCOIN Hijacked
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