Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 112. (Read 1009280 times)

In the Bitcoin related news:
https://www.reddit.com/r/Bitcoin/comments/5vuih9/internet_psa_cloudbleed_cloudflare_leaked/

Internet PSA: Cloudbleed: CloudFlare leaked passwords, 2FA secrets, full HTML in plaintext. All CloudFlare sites were potentially affected, consider changing your passwords (and 2FA) ON Bitfinex, Bitstamp, Coinbase, or any other site you are using that is/was CloudFlare protected. 

The current Bitcoin pump is relatively strong though. The news above caused some solid dumps, but the price immediately rebounded.

Hi BitcoinNational,

Masternodes only really make sense for PoW coins as a way to pay the users that run Full Nodes.

All ZEIT wallets are Full Nodes, so really no point for us to add it.

Going to ultra Low inflation will cause the price per coin to increase.

Even thru for 1 year after the change, I will pay ZEIT to 8 nodes that stay online 24x7.

As our price increases, it will become apparent to all, that they will earn more ZEIT from Processing Transactions than from the Proof of Stake.
100 million ZEIT will be able to earn 1 new coin per day from the ultra low interest, however the transaction fees for 1 block will easily pay more as our transaction volume increases.   

ZEIT Full Nodes that Stake will Profit thru Transaction fees , and with an ever increasing price due to the inflation being controlled.
ZEIT will begin the March to overthrown BTC and take our Rightful Place at the Top of CoinMarketcap. 

 

ZEIT please don't fork.  I've being seeing great connection numbers ... 50+ ... and stake pools are looking to catch on.

If you do fork, think of masternoding stuff, ie reward for top end seeder nodes.


Yobit
Do not use Yobit
agree

Nope,  not yet.


 

any news on switch to ultra low interest?

Sorry guys, was caught up in other developments and let the lottery get behind, not many entries though so try to support by making an entry
I did just process the drawing again and restarted a new one

Have been working with http://cryptodepot.org/ and their supporting of Pandacoin and a new Electrum light weight wallet which has some nice features
We are working on a Zeitcoin version too, just needs to sync up.  Would there be interest from the community for this?  Show interest by voting here http://cryptodepot.org/zeitcoin-electrum-vote/
BTW http://cryptodepot.org/faucet/zeitcoin/ faucet link for hourly ZeitCoin faucet.
Try Pandacoin Electrum now ready and has two electrum servers in operation for redundancy.
http://cryptodepot.org/faucet/pandacoin/  Pandacoin hourly faucet

Last Update was Sept 2016,

PM  Jommy99 to verify, he was running it last I remember.

Hmm, I found link on first message on topic: http://www.usepnd.com/lottery/#ZeitLottery

This lottery still works?

zeit buy party  https://www.southxchange.com/Market/Book/ZEIT/BTC

There was a nice price spike on Nov 17,2016 , ZEIT peaked at 25 satoshi.
What has happened is this ,
the Coin network is still running, we are still on Multiple exchanges, Block Explorer is still active.

In Dec 2016 , the community had a vote to go ultra low inflation,
this will end the never ending coin generation that keeps crashing our price.

The real world has our Amazing Dev Rent_A_Ray tied up for another month or two,
once he is able to update ZEIT,
We will make our own luck with these Changes.
_________________________________________________________________________
1.  Interest rate change to 0.0005% (0.000005) per year.
2.  Minimum Stake Age Changed to 1 Day
3.  Blocks no longer Split after staking, stake amount just adds to the block amount.
___________________________________________________________________________

Then as time progress , our price will stabilize and then begin to rise.  

 


FYI:
Next ZEIT Knight Registration is in March 2017, so if people want to dump to make it cheaper for the new Knights to Join,
The New Knights will appreciate it.  

Is there any luck for our coin.I have my coins since the begining of 2015 and nothing has happened

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

Ram usage of ZEIT by itself is between 1.2 gigabytes & 1.48 gigabytes .
So minimum requirements of a system would be 2 gigs of ram.
If you are running other apps at the same time, a 4 gigabyte or higher would be preferable.


 

hey guys. how much ram does the wallet consume when it is fully synced? my pc is kinda low on ram...

ZEIT BLOCKCHAIN SNAPSHOT (The Fastest Way to Sync a Wallet)

Updated to 1-21-2017.
https://bitcointalksearch.org/topic/m.14024462

 

sounds good kiklo hopefully the high # of coins will keep security up with lowered incentive to keep the wallet running

Absolutely Sure , at our # of coins 35,959,616,747
Compared Maximum Yearly Rates
5%  = 1797980837.35 per year = 4,925,974 coins per day
1%  =  359596167.47 per year  = 985,194 coins per day

Ultra Low Inflation
.0005% = 179798 per year    =   492 coins per day

For ZEIT to reach 1 penny and stay there, the economy has to be able to absorb our daily inflation
@5% , we need $.01 * 4,925,974 = $49,259.74 of Fiat influx every day
@1% , we need $.01 *    985,194 = $ 9,851.94 of Fiat influx every day
@.0005% , we need $.01 * 492    = $  4.92 of Fiat influx every day  
(Our Price per coin will rise at the Ultra low rate of .0005%, our price per coin will continue a downward spiral at higher %.)

We have been @5% for a few weeks, and all we are doing is struggling to hold ~$200,000 marketcap.
BTC is making less than 2000 coins per day and their number drops in half in 2020 to less than a 1000 per day.
Their Price is rising.

This inflation problem is why no PoS coin has come close to reaching BTC, we all keep treating Proof of Stake like it is an interest bearing account.
It is not, interest bearing accounts work by charging a higher interest rate to someone else and paying out a smaller rate to account holders.
All that happens when we pay out millions of coins per day is it pulls directly from our Marketcap $ amount, it has no other source of income to pull from.

I am being brutally honest here, There is no way to sugar coat it, We either make this change to Ultra Low Inflation or our coin will be dead within 2 years.

We go Ultra Low , We Survive & Prosper , We try to keep paying out interest rates like a bank account , we die.

Which is why the poll at the top was not even close. The Majority chose Life and Prosperity for ZEIT

Once our transactions volume numbers pick up, most people that are staking will make more money from transaction fees, than they do from staking.

Also with the updated specs, all of your coins will be eligible to stake every day, which will massively increase our network security and make us more attractive to the bigger players that value security over everything else.


 

FYI: By moving to ultra low inflation, our coin pricing will easily support between $.01 and $1 market price in time .  
@.0005% , we need $ .01 * 492  = $    4.92 of Fiat influx every day
@.0005% , we need $1    * 492  = $ 492.00 of Fiat influx every day

  
    kiklo, why are you sure our planned 5% inflation rate is too high to allow the price to rise?
(my thinking is that this might be wrong for Zeit)
      -if/when mass global adoption happens, our price will multiply many, many times
    
    (Mining) Staking, inflation, ... all are a part of the initial distribution process, and a lower price will help the ppl of the  world buy in. by keeping our inflation at 5% (for maybe some many years yet, at least, we can thus contribute to the global acquisition of ZEIT by the masses)  (a far better investment strategy, IMHO)
   also, as you say, the more zeitknights the better, and currently the cost of becoming one from scratch is ~BTC1.00 or somewhat less if you purchace w/an altcoin

i say we give 5% a good fighting chance.
   just my    

Thanks, but No Thanks.
It would be better if the users that wanted ZEIT just purchased some for themselves.
Also March 2017 is the next Knight's Registration, last thing we want is someone artificially inflating the price so it costs the New Knights more Fiat to join.

Once Rent_a_Ray changes us to an Ultra Low inflation coin , price will rise naturally.