Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 107. (Read 1009280 times)

Their are a lot of people that freak out, mainly because they are unaware of all of the details.
Just because they are unaware of the consequences , does not mean we should make a mistake that would harm the coin in the future.

There is a whole article on how BTC will collapse after the block rewards are zero.
https://freedom-to-tinker.com/2016/10/21/bitcoin-is-unstable-without-the-block-reward/

Removing all inflation would have the exact same harmful effects on ZEIT ,
there has to be a small amount created to help offset those harmful effects.

Example: Nxt does not create any new coins, forging only receives transaction fees alone.
But when you monitor their block explorer, you will notice they don't have transactions in every block yet.
So there are multiple blocks found every day with absolutely ZERO rewards , no interest and no transaction fees,
Literally no reason for the majority to forge/stake.
At ZEIT even if a staked blocks does not have any transaction fees, you will still receive some interest, not zero like NXT,
so there is still incentive to stake.


 

steve makes a good point ive seen many times people freak out about the notion of 'no total coin cap' it might be worth putting an arbitrary limit on it

I heard that pieter wuille is putting his paws on zeit, hes willing to acquire the entire supply if the need be. Rumor could be true or could be a mouthfart produced by envy idiots that possess billions of zeit and have their motives to push the value. Judge for urself whether its worthy to be noted. It sounds like an absurd to me because I am vietnam veteran and whatever media outlets say, I never take that as granted.

1: Ultra Low Inflation means less than 181,000 new coins per year
    It would be 20 years before even 3.6 million new coins are added.
    Their is no cap on our total # of coins, only a cap on the Maximum amount of coins that can be sent at 1 sending.

2. None of us will be alive to even see ZEIT reach 40 Billion, after the switch to Ultra Low Inflation,
    it will take over 5000 years for a Billion coins to be added.

Direct messaging means someone could spam your ZEIT Address with unwanted messages, or send you links trying to trick you into downloading a virus to steal your ZEIT coins .  While I must admit it would be convenient , it would only take a few bad apples to make it into a pain in the butt.
example: Windows used to allow direct messaging to IP address, the Spam became such a problem, it was deactivated on all PCs within 3 months after the spam started.

 


FYI:
Less than 2 Billion coins are listed on the sell orders  on the exchanges combined at the moment.

A special version is ready for testing.
Please ask kiklo for the details.

Cheers,
Ray

Not even close to 100 million Zeit.    But I do have a lot.

i had over 100M ZEIT but sold it before the crash. So, i'm on the sidelines now.

I have not the answers of all this questions but
go ZEIT go go go  

So here are a couple of serious questions:

1) With the upcoming change to ultra low inflation and the fact that there are currently around 36.1 billion Zeit in existence, is there really a need to keep our total coinage at 90 billion? If it is even possible, how hard would it be, and more importantly, how much sense would it make, to change our total coinage to, say, 50 billion with the option to open it back up if/when we get a more massive, global adoption?

2) I can't currently log on to all of the exchanges where Zeit is traded, can anyone give an estimate of how many Zeit we currently have rotting away on the exchanges? The way I see it, there are about 14 Knights, and even if each of us only held the required 100 million, that is less than 2 billion Zeit between us. Unless we have many unknown whales, that means there is a possibility of over 30 billion either sitting in exchanges or lost in the ether.

The above leads me to think that 90 billion is just too many Zeit for the time being. I know it will be many years before those are all minted, especially with the change to ultra low inflation. But would the combination of ultra low and a total coinage cut almost in half make the coin a bit more appealing and possibly drive the price up naturally? Perhaps I just don't understand how the market works, so please correct me if I am off base or my thoughts make no sense.

Also, how much work would be involved with adding a messaging feature into the next wallet update? Would there be any interest in such a thing? I could imagine it being useful especially in the instance of users sending coins to one another for some future payment or service. The sender could message the receiver to say the transaction is coming. The receiver could then message the sender to say payment was received. Something along those lines, but obviously it could be used for other socializing as well.

Wow!  It's been a LONG time since I paid a visit to this forum.  Still have my Zeitcoins though, sadly, I probably missed the highest of interest rates.  Oh, well.  Still getting something for holding since the beginning, even if it's only 5%! 

Nice to see this community is still thriving, which can't be said for so many of the coins I was mining back in the day.

Lots of movement on our coin the past few days. I love the positive outlook from some of our fellow Zeit investors. But I have to say, we still have quite a few zeros after the decimal point in our value per coin right now. Even getting to $0.01 is a long shot as it stands right now. And truth be told, even $0.0001 is quite a ways off unless we have mass adoption within the next year or two and maintain a steady growth. Even then, I think a lot of weak hands will show through and there will be a massive dump which would just drive the price right back down again. I guess that's the risk we take when investing in altcoins and even we aren't immune to it. But the strong hands will be the saving grace in that situation. Slow and steady wins the race. Zeit is a marathon, not a sprint.

One of the things we have to do is deal with the fact that there aren't many of the coins with a total coinage as large as ours that makes it to or maintains a 100+ satoshi value. Ripple come to mind, but that coin consistently has $million+ in 24-hour volume lately. How much of that is actual cash being pumped in and how much is bot trading is beyond me.

I think the ultra low inflation will do us a lot of good because it will slow down the amount of new coins being minted daily, so hopefully the demand will go up as the market supply on the exchanges goes down. We need more investors! We need more trading volume. We need to get back into the top 100 on coinmarketcap like we have been in the past. We need to get noticed and adopted on a grander scale.

Anyway, I haven't been able to post in a while because I am deployed right now. I also haven't been able to sync up my wallet in over two months for the same reason. Hopefully I'll get a chance to before the shift to ultra low kicks in. Exciting times are ahead for us, I can feel it, and I am in it for the long haul!

10 cents i would be the happiness person alive

i agree target should be at least 20usd per zeitcoin 

Now that would be crazy! but it would be great to see however I can't see that happening any time soon. Maybe we could see 0.01 USD per ZEIT coin some time in the near future and then as ZEIT gets bigger and more developments are made we could see 0.10 USD and we never know maybe one day we will see $1 or $10 but that will be a long way into the future. Right now I am continuing to buy as many ZEIT coins as I can each week and build on my stack.

That would be a crazy marketcap

Zeitcoin is going Up and Up always...
nice news,,,,
we want more than 1 zeitcoin=10 Usd

We are searching some of you guys for internal beta testing next week. (IP, port required)

Cheers,
Ray

difficulty sees a nice pickup https://chainz.cryptoid.info/zeit/#@diff

Whichever Kind Soul just paid
2017-04-04 06:42    0.070 BTC   $ 80.64   + 252.5  on the Chainz BlockExplorer.




 

Yes it's great news and I also am expecting ZEIT coin to rise to at least 20 to 50 sats some time this year as people would want to hold and stake their coins once the low interest takes effect and that most of the staking rewards would come from transaction fees. So I can see this coin start rising in price in the next few months and all I can say is that I'm glad I have yet to sell any of my ZEIT coins. I've actually been buying some each week to build up my stake.