Scary shit, but I think I want to take the next test. Wish me luck.
Thanks Kiklo. I hope I don't disappoint you and flunk.
Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 117. (Read 1009334 times)
December 21, 2016, 12:37:24 PM
Thanks Kiklo. I hope I don't disappoint you and flunk.
December 20, 2016, 10:39:05 PM
Proof of ZeitKnight!
Only the 1st 15 Knights will be accepted for Feb Registrations.
All others will have to wait til the next registration.
Rules for posting ,
1st 15 with at least 100 Million Zeitcoins in 1 Address confirmed by the Block Explorer will be Zeit Knights.
New Knights will be confirmed in order of posting, so if you are the 16th one, you will have to try again at the next registration.
Goto https://chainz.cryptoid.info/zeit/ and verify your amount of zeit is at least 100 million.
Copy & Paste your zeit address in the search box and hit enter.
Copy & Paste your Address & Balance in a POST , time stamped after 1AM on Feb 1st 2015 on the Zeit Forum.
Example Post:
_________________________________________________________________________
Proof of ZeitKnight
Name: Kiklo
Address MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63
Balance 109,697,169.412637 ZEIT
__________________________________________________________________________
Once your Post is up, We will send you 2025 zeitcoins within 12 hours, after you receive the zeitcoins,
Use Coin Control and send back exactly 2015 zeitcoins to MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63 , from the 2025 that was sent to you.
(Only send from the block of 2025 sent to you, sending from another block , can cause the entire block amount to be subtracted from your total by the block explorer stats.)
This confirms your ownership of the Account.
Within 24 hours of confirming ownership of the account,
A Post will be added to the Zeit Forum of your Achievement & ZEIT KNIGHTHOOD!!!
Only 5 left for Feb 2015.
Only the 1st 15 Knights will be accepted for Feb Registrations.
All others will have to wait til the next registration.
Rules for posting ,
1st 15 with at least 100 Million Zeitcoins in 1 Address confirmed by the Block Explorer will be Zeit Knights.
New Knights will be confirmed in order of posting, so if you are the 16th one, you will have to try again at the next registration.
Goto https://chainz.cryptoid.info/zeit/ and verify your amount of zeit is at least 100 million.
Copy & Paste your zeit address in the search box and hit enter.
Copy & Paste your Address & Balance in a POST , time stamped after 1AM on Feb 1st 2015 on the Zeit Forum.
Example Post:
_________________________________________________________________________
Proof of ZeitKnight
Name: Kiklo
Address MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63
Balance 109,697,169.412637 ZEIT
__________________________________________________________________________
Once your Post is up, We will send you 2025 zeitcoins within 12 hours, after you receive the zeitcoins,
Use Coin Control and send back exactly 2015 zeitcoins to MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63 , from the 2025 that was sent to you.
(Only send from the block of 2025 sent to you, sending from another block , can cause the entire block amount to be subtracted from your total by the block explorer stats.)
This confirms your ownership of the Account.
Within 24 hours of confirming ownership of the account,
A Post will be added to the Zeit Forum of your Achievement & ZEIT KNIGHTHOOD!!!
Only 5 left for Feb 2015.
Scary shit, but I think I want to take the next test. Wish me luck.
December 20, 2016, 08:49:25 PM
Become a legendary zeight (zeit knight) and help us to help others.
Think of it like King Arthur and his Round Table, every one at the Table is Equal.
A Group of Men & Women banding together to make the Way of Zeit a worldwide reality.
_______________________________________________________________________________ _
The ZeitKnight's End Game,
To make this World a Better Place for All who reside in it.
By making zeitcoin into a tool that can help someone next door or someone across the world.
______________________________________________________________________________
Technically Zeitcoin is a Virtual Resource that is made by personal computers,
To make a Zeitcoin , you need CPU Labor, Electricity, Internet connection, & Time,
We combine those resources to make a Zeitcoin.
______________________________________________________________________________
ZeitKnights Current Goal List
https://bitcointalksearch.org/topic/m.9883182
Charities to Sponsor once the price of zeitcoin is higher
https://bitcointalksearch.org/topic/m.9874339
Zeit Slogans
https://bitcointalksearch.org/topic/m.9874356
_______________________________________________________________________________ ___
Any Questions or Suggestions , Post Away , All Ideas Welcome.
Requirements:
All Members must have 100 million Zeitcoins as a requirement of being part of the Zeit-Knights.
_______________________________________________________________________________ ____
A Group of Men & Women banding together to make the Way of Zeit a worldwide reality.
_______________________________________________________________________________ _
The ZeitKnight's End Game,
To make this World a Better Place for All who reside in it.
By making zeitcoin into a tool that can help someone next door or someone across the world.
______________________________________________________________________________
Technically Zeitcoin is a Virtual Resource that is made by personal computers,
To make a Zeitcoin , you need CPU Labor, Electricity, Internet connection, & Time,
We combine those resources to make a Zeitcoin.
______________________________________________________________________________
ZeitKnights Current Goal List
https://bitcointalksearch.org/topic/m.9883182
Charities to Sponsor once the price of zeitcoin is higher
https://bitcointalksearch.org/topic/m.9874339
Zeit Slogans
https://bitcointalksearch.org/topic/m.9874356
_______________________________________________________________________________ ___
Any Questions or Suggestions , Post Away , All Ideas Welcome.
Requirements:
All Members must have 100 million Zeitcoins as a requirement of being part of the Zeit-Knights.
_______________________________________________________________________________ ____
The ZeitKnights began accepting members in Feb 2015.
Each ZeitKnight will hold 100 million zeitcoins to use 10% of their interest for charity in the future.
Next Registration for Anyone wanting to be a ZeitKnight is March 2017.
Our Maximum Number of ZeitKnights will be 300 , that group will make history as supporters of this coin.
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
December 20, 2016, 08:41:01 PM
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
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
December 20, 2016, 08:39:13 PM
Me too. Otherwise I was going to be out some serious coin.
Did your friend get his coins back?
Did your friend get his coins back?
Not yet, waiting on a 3rd party to get back to me with some information that will settle it once and for all.
May be a few days before this resolves for certain.
Too much drama.
That sucks man and so close to christmas too.
Do you mind sharing some details of what happened, I obviously cant help but im sure its a good story behind it.I would , but it is not my story to tell. I will leave it up to my friend , if any more details come out.
Ok well tell him I feel bad for him and I hope he gets his money back.
December 20, 2016, 07:44:18 PM
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?
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.
We started the Poll on December 11, 2016.
In just 7 Days our inflation rate has added 110,710,184.07 coins.
That is over 110 Million coins.
2016-12-17 Sat 21,724,510.40
2016-12-16 Fri 14,299,754.51
2016-12-15 Thu 18,576,750.07
2016-12-14 Wed 18,396,872.24
2016-12-13 Tue 26,959,713.14
2016-12-12 Mon 7,702,107.81
2016-12-11 Sun 3,050,475.91
If we had already switched to Ultra Low Inflation , we would have only added 3,500 coins.
2016-12-17 Sat 500
2016-12-16 Fri 500
2016-12-15 Thu 500
2016-12-14 Wed 500
2016-12-13 Tue 500
2016-12-12 Mon 500
2016-12-11 Sun 500
Let say all of the generated coins were placed on blank Markets with no sell walls yet,
An investor with $35 wanted to buy into ZEIT .
For $35 he could buy ZEIT Entire week of inflation (3,500 coins) at the price of 1 penny each.
However to buy Our Actual ZEIT Entire week of inflation
110,710,184.07 of Coins,
An investor with $35 can only buy the entire amount if the price per coin is .00000009 Litoshi
Now lets say the owners of the inflation , just refused to sell that low, instead placing it all at 1 satoshi.
All they are doing is making an impenetrable sell wall, then next week they do the same, and then next week the same except they drop it off at 100 litoshi and start working their way down.
This is the Danger of Massive Inflation that now threatens our coin (Actually all PoS coins are suffering even the 1% ones) ,
going Ultra Low cuts off the supply of never ending coins that crush our price, it is the only solution and the sooner it is implemented the sooner our price recovery can begin.
In just 7 Days our inflation rate has added 110,710,184.07 coins.
That is over 110 Million coins.
2016-12-17 Sat 21,724,510.40
2016-12-16 Fri 14,299,754.51
2016-12-15 Thu 18,576,750.07
2016-12-14 Wed 18,396,872.24
2016-12-13 Tue 26,959,713.14
2016-12-12 Mon 7,702,107.81
2016-12-11 Sun 3,050,475.91
If we had already switched to Ultra Low Inflation , we would have only added 3,500 coins.
2016-12-17 Sat 500
2016-12-16 Fri 500
2016-12-15 Thu 500
2016-12-14 Wed 500
2016-12-13 Tue 500
2016-12-12 Mon 500
2016-12-11 Sun 500
Let say all of the generated coins were placed on blank Markets with no sell walls yet,
An investor with $35 wanted to buy into ZEIT .
For $35 he could buy ZEIT Entire week of inflation (3,500 coins) at the price of 1 penny each.
However to buy Our Actual ZEIT Entire week of inflation
110,710,184.07 of Coins,
An investor with $35 can only buy the entire amount if the price per coin is .00000009 Litoshi
Now lets say the owners of the inflation , just refused to sell that low, instead placing it all at 1 satoshi.
All they are doing is making an impenetrable sell wall, then next week they do the same, and then next week the same except they drop it off at 100 litoshi and start working their way down.
This is the Danger of Massive Inflation that now threatens our coin (Actually all PoS coins are suffering even the 1% ones) ,
going Ultra Low cuts off the supply of never ending coins that crush our price, it is the only solution and the sooner it is implemented the sooner our price recovery can begin.
December 20, 2016, 07:10:30 PM
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?
December 20, 2016, 06:59:54 PM
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...
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...
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.
December 20, 2016, 06:35:05 PM
Are you guys still at the 15% rate? Or are you at 5% yet?
15% rate until Block # 3153600 .
~2.29 days left at 15%
December 20, 2016, 04:37:56 PM
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.
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.
December 20, 2016, 03:17:24 PM
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...
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...
December 20, 2016, 03:06:00 PM
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?
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.
December 20, 2016, 04:43:24 AM
nice info, i will withdraw my coin on delisted and stake them in my wallet
December 20, 2016, 01:52:21 AM
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
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
December 19, 2016, 10:51:53 PM
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?
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.
December 19, 2016, 09:35:29 PM
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?
December 19, 2016, 07:42:25 PM
...or we could vote to cut the supply of new coins and wait.
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.
Here are the Software Changes that are required if the Community Votes to go Ultra Low Inflation.
1. Interest rate change to 0.0005% (0.000005) per year, that would leave us only gaining ~ 180,000 new coins per year . (Thanks to Fred for the % recommendation)
(Price per coin will rise.)
2. Minimum Stake Age Changed to 1 Day (This will allow coins to be staked faster, so more coins will be defending our network security, Difficulty Increase)
(Major increase in Our Network Security)
3. Blocks no longer Split after staking, stake amount just adds to the block amount. (Recombining smaller blocks will no longer be necessary)
(Meaning you can keep Larger amounts in fewer Blocks and use less resources.)
1. Interest rate change to 0.0005% (0.000005) per year, that would leave us only gaining ~ 180,000 new coins per year . (Thanks to Fred for the % recommendation)
(Price per coin will rise.)
2. Minimum Stake Age Changed to 1 Day (This will allow coins to be staked faster, so more coins will be defending our network security, Difficulty Increase)
(Major increase in Our Network Security)
3. Blocks no longer Split after staking, stake amount just adds to the block amount. (Recombining smaller blocks will no longer be necessary)
(Meaning you can keep Larger amounts in fewer Blocks and use less resources.)
We take away their only advantage.
December 19, 2016, 06:43:26 PM
...or we could vote to cut the supply of new coins and wait.
December 19, 2016, 06:36:26 PM
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.
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.
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.
December 19, 2016, 03:56:06 PM
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.
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.
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