Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 117. (Read 1009280 times)

Scary shit, but I think I want to take the next test.  Wish me luck.

Next official ZeitKnight registration in March 2017.

New members have to pass the test of Proof of ZeitKnight. Link Below.
https://bitcointalk.org/index.php?topic=487814.msg10461974;topicseen#msg10461974

After they Pass the test , this happens.
https://bitcointalksearch.org/topic/m.10324746

I wish to be a member of the zeit knights, cos it sounds cool!

Will this cryptocurrency automatically entitle me to that title?

If yes, then I'm down for that, else, I need to wait for the Queen to knight me, which I shall ask her about, next time I'm there for Sunday lunch

Ok well tell him I feel bad for him and I hope he gets his money back.

Maybe because they are a bastardization of Proof of Stake original design, with Centralization from their creation to now.
I consider none of those a true proof of stake coin.

Look at the following & explain to me how any crypto coin is going to generate over 100 million coins in 7 days and maintain a price of between a penny & $1 :
We either stop inflation or it crushes us, the numbers don't lie.

If inflation was the flaw with PoS then why aren't NXT and NEM dominating. Granted, NEM is the only PoS coin in the top ten of market cap, but it's at #9. Dash is kind of PoS I guess at #7. The top six coins are all PoW except ripple, which isn't really a coin imo. There are lots of PoS coins with inflation between zeit and NEM though. Steem is at #11 and don't they have like super high inflation? Are you sure that's really the key issue?

The Coin has been Out for ~3 Years, we are not early adopters, we are the guys in it for the long run.
Guy have you looked at the markets, there is plenty of ZEIT at 1 satoshi , even after the change to ultra low inflation,
it will still take months before that amount is absorbed by the community and the price can rise.

It is amazing how many people that don't even own any are so afraid for ZEIT, you don't even care enough to own any.  
Here is my Knight address MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63 ,
with a balance of 212,062,694 of which I am going to pay 50 million directly from it to 8 stakers and for the ZEIT Weekly Jousts winners to anyone that stakes.

I am personally giving up 10,603,134 coins of interest yearly and going to pay out 50 million on top of that.
Why,  Because I believe in this coin and the community that supports it, we found the flaw with all PoS coins and it is inflation, and we are going to fix it.  

ZEIT started with PoW and then ~ 3 years of extremely low prices, there is no one that has any excuse that it has not been easy to become a substantial owner of this coin.
So the early adopter nonsense is BS.

The guy that owns 1 million ZEIT vote is just as important as the Guy that own 200 million Vote, signing with addresses are irrelevant.

All I can say is enjoy the show, and get some ZEIT before the price increases too much.


 

15% rate until Block # 3153600 .
~2.29 days left at 15%


 

CBX?

There's over 190m Zeit for trade at or below 200 litoshis on Cryptopia alone. That's just a small portion of the available supply one single pair on one single exchange. Zeitcoin is available on four other exchanges and numerous other currency pairs. There's plenty of supply available and the original POW/POS hybrid roots that Zeitcoin began with ensured as wide and equitable a distribution as was possible. 

I don't hold any zeit, but I also think this is a big mistake. Can you think of any coins in the past that have slashed emission and then went on to become more successful? Maybe darkcoin/dash, but that's all I can come up with. I think you will taint your project with the smear that coin emission was halted to benefit early adopters. No one wants to buy into something owned by a small number of people where no more will ever be created; just look at NXT, they screwed themselves over from the beginning using this no inflation logic, and there were probably more people in NXT ICO than there are zeit knights right now.

But, like I said, I don't own any and an not voting, so will be interesting to see how it plays out.

Also, why didn't you make people sign large addresses to cast a vote or something, to prove that you actually have some skin in the game. There's probably people in altcoin section with more sock puppet accounts than you got total votes in your poll...just sayin...

I wasn't agreeing with you. I still think it's flawed logic. I was just curious. Are you guys still at the 15% rate? Or are you at 5% yet?

nice info, i will withdraw my coin on delisted and stake them in my wallet

In the Delisting Exchanges News

Poloniex.com is zapping the following markets.
On January 4th 2017, the following markets will be delisted:
MMNXT, BITCNY, NBT, DIEM, LTBC, RDD, XST, XCN, XDN, SYNC, CGA, GEO, BLOCK, 1CR




 

LOL,  

The Voting is not officially over with until Jan 1st,2017 .

After that it will be up to Rent_a_Ray , he does the Dev work , so it is dependent on his schedule.


 

Okay. So when are you making the change? Do you have a date set, or picked out a block number the fork will happen on?

Right Answer.  


@Derek,

You right BTC does have a scalability problem,
However that does not mean that all Proof of Stake coins don't have an inflation problem.

Forget about the exchanges:
We created over 100 million new coins in 1 week,
lets say we were priced at 1 ZEIT = $1 , then we need an influx of 100 million Dollars in 1 week to just Maintain our current price.
or
let's say we were priced at 1 ZEIT = $0.01,  then we need an influx of 1 million Dollars in 1 week to just Maintain our current price.

Compared to being an ultra low inflation coin that only generated 3500 coins per week
lets say we were priced at 1 ZEIT = $1 , then we need an influx of $3500 in 1 week to just Maintain our current price.
or
let's say we were priced at 1 ZEIT = $0.01,  then we need an influx of $35 Dollars in 1 week to just Maintain our current price.
(by the way if we were at 1 penny, we would be 3rd on the market cap.)

The Lower our inflation , the less capital required for our price to Grow and the more valuable the previous coins become.

(if you focus on this and understand it, you will understand why Mint dropped from 30 sat (after $150,000 fiat influx) to now ~4 sat ,
you will also understand why all capital influxes into PoS coins are a lost cause , unless inflation is capped. )  

ZEIT using Proof of Stake defeats BTC on every technical level,
Speed
Energy Efficient
No ASICS Purchases required on an annual basis
20X BTC current transaction capacity

The only place BTC defeats us in Inflation Control, with this vote and the following changes.

We take away their only advantage.  


 

...or we could vote to cut the supply of new coins and wait.

I was just trying to illustrate a point. Could use anything really to price it. For example if you price Bitcoin in terms of ZEIT, it is currently 1 Bitcoin is worth about 113,000,000 zeit, last I checked? Therefore since 1 satoshi is worth more than 1 ZEIT then Bitcoin becomes useless for transactions involving 1 ZEIT or lower transactions of value. My point is that this is a scalability problem Bitcoin has not necessarily a problem with ZEIT.
 It is more of a listing problem with the exchanges more than anything.

All you have to do is get the exchanges to make a 1 to 10 or 1 to 100 or even 1 to 1000 exchange rate.  Basically instead of comparing 1 bitcoin to 1 ZEIT, have them compare 1 to 1000. Then the minimum exchange be like 1  Bitcoin to 1000 ZEIT.  I hope that makes sense to you. Then you can get back to proper Bitcoin trading and Bitcoin markets. It's not that hard to do you just have to get the exchanges to understand and implement the exchange ratio in that way. A ratio that is not 1 to 1, but like 1 to 1000. Anyway, it's just an idea.

When you say "the price of Bitcoin" you're referring to the exchange rate based in US Dollars. A constantly moving target due to inflation(expansion of the US currency supply).

I would much rather see us work toward maintaining a value of Zeitcoin as measured against real money. Something without arbitrary inflation set by shadowy bureaucrats at the federal reserve, but with instead a fixed rate of inflation that is known years in advance.

Like...Bitcoin.

By all means don't let me stop you. I will be interested to see how it turns out. I see what you're saying, and I get the point. But I don't think we are dealing with hyperinflation. The percentage is low, but the quantity of coins is high.  There is a difference between price and value. Price is dropping but value maintains right? I think what I see you are trying to do is maintain a certain exchange rate vs Bitcoin. But Bitcoin has so few coins relative to ZEIT or MINT with so many, that is what is causing the push towards a sub satoshi exchange ratio. The real problem IMO is Bitcoin price rising a lot, not ZEIT or MINT. Imagine for a second, if Bitcoin goes to $100,000,000 per coin, then 1 satoshi would be worth $1  and Bitcoin becomes unusable for any transaction under a dollar.  So what we are seeing right now is Bitcoin already becoming useless for transaction at the satoshi level because compared to ZEIT if ZEIT or MINT is sub satoshi, then Bitcoin is useless for valuation. This isn't zeit's or mint's problem it is a flaw and problem with Bitcoin. We must then look to Litecoin or other coins for valuation. I'm not sure trying to keep up with Bitcoin at all times is a good idea. If the price of Bitcoin goes up 10x in next month, and every month, then its unrealistic to keep up with that. You cannot force an exchange rate ratio unless you directly keep on manipulating the coin by adjusting rates or coin counts, you may even need to burn coins to reduce your supply of coins if that is the ultimate goal. Markets are in constant flux. Alternatively, if Bitcoin drops back down to say $50 per coin, then back we'd swing the other way. Kind of hard to know. Like I said, I will be interested to see how things turn out.