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Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 118. (Read 1009334 times)

sr. member
Activity: 356
Merit: 250
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. Smiley
legendary
Activity: 1092
Merit: 1000
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.  Smiley


 Cool
legendary
Activity: 1092
Merit: 1000
Hello, it has been awhile since I last contributed to the ZeitCoin community and project so thought I should chime in with something, although I have not voted yet regarding the proposed ZeitCoin changes.  I tend to be more of a grind it out and don't try to cheat or change the rules leaner; but I do understand there are many viewpoints and concerns by many people that are all important to consider. As brought out by kiklo decentralized voting should give everyone a voice on key decisions not just an elite group of leaders.  I am not sure how to accomplish a truly fair vote but do think it might be more informative and helpful to collect more data on people's vote / perspective somehow. Should the number of Bitcointalk accounts responding be the only information used to come to a ZeitCoin community consensus on such serious matters? It is nice to have open discussion as is being done here and since I am personally hoping to understand other community members viewpoints and input better, I will wait to cast my vote for now.

Hi Jommy,

This is not an attempt to cheat anything, it is our One chance to Survive & Thrive Nothing more , Nothing Less.

ZEIT has remained at the original specs, for almost 3 years now.
There is an old saying,  Insanity is doing the Exact Same Thing Over & Over Again and Expecting a Different Result.
We have done the same thing over & over again, if we want a different result (Such as the Value of the coin to Increase) ,We Have to Change!

If you want to grind it out with Panda , feel free, wish you the best,
but after looking at the Numbers , No Proof of Stake coin will ever be anything but a pump & dump until we stop the hyper inflation.

Once we stop the Hyper Inflation , ZEIT will become something different and maybe that scares the other coin communities,
but we are evolving while the rest hold their original specs like they were handed down by God and Afraid to Change.

I have communicated with the original designer of Mintcoin, the one our original dev borrowed for ZEIT .
During that communication he was looking into creating a new coin with ZERO Inflation.
So even the original designer of the specs realizes that inflation is the most dangerous of foes and the original specs were flawed.

We are correcting the flaws in our design that is preventing us from Soaring & Growing above all coins , including BTC.
Once the new specs are in Place, Our entire economic dynamics change for the better.

Simply Put,
Vote Yes , if you want ZEIT to Survive & Thrive , and your coins to have a growing value.

Vote No , and we die a slow death from hyper inflation, and your coins become worthless

 Cool
sr. member
Activity: 575
Merit: 250
PND DevTeam
Hello, it has been awhile since I last contributed to the ZeitCoin community and project so thought I should chime in with something, although I have not voted yet regarding the proposed ZeitCoin changes.  I tend to be more of a grind it out and don't try to cheat or change the rules leaner; but I do understand there are many viewpoints and concerns by many people that are all important to consider. As brought out by kiklo decentralized voting should give everyone a voice on key decisions not just an elite group of leaders.  I am not sure how to accomplish a truly fair vote but do think it might be more informative and helpful to collect more data on people's vote / perspective somehow. Should the number of Bitcointalk accounts responding be the only information used to come to a ZeitCoin community consensus on such serious matters? It is nice to have open discussion as is being done here and since I am personally hoping to understand other community members viewpoints and input better, I will wait to cast my vote for now.

Since Pandacoin is also trying to wrestle with it's fair evolution and taking into proper account all community members various perspectives etc, we have started experimenting with coin voting. We hope to learn how to do a better job understanding the voters determination as well as sincerity of their vote etc. We have a Pandacoin vote page we are experimenting and learning from and We have also created a test Zeitcoin vote page simply as an experiment / test that anyone can use. The results are just informative for now and all coins used to vote are considered simple donations to the appropriate faucet, however they could be used in other ways in the future.

To try out the Experimental ZeitCoin Vote page http://cryptodepot.org/zeitcoin-vote-page/
newbie
Activity: 51
Merit: 0
Yes...I want have low coins..but these coines always will be increase Price..... Kiss
legendary
Activity: 1092
Merit: 1000
The problem I see with just voting and changing your parameters, is that what you are doing is essentially no different than what the fiat money central banks do when they meet and vote on changing their interest rates and parameters. I don't think you should change your coin unless it is an emergency or something like that. Just wanted to say something, maybe give it some thought. The whole point of crypto to me is to have something that is all automatic and eliminating third party risk. I think currencies should be built and let their design play out, for better or for worse. If people invested thinking the coin is going to be one way forever, and it turns out it's not going to happen, you may have some disgruntled people. Hard forking an established coin is a very serious and big deal imo should not ever be done. Imo, by changing your coin you run the risk of the coin losing trust. Because it means ultimately the design failed, so you capitulated and essentially created a new coin. New parameters that was not established from the beginning = new coin. A new coin with pre-established distribution, essentially equates to being a full premine or ICO because the distribution isn't fair for people to find out about the change before any investment happens.   I would be very careful since (correct me if I'm wrong) these changes you are proposing were not part of the original parameter goal and disclosure at the coin's launch and mining phase.  
If you do something like this, how can you say the coin operates without oversight and control by banks or government, when essentially what you'd be doing is the same thing. A small group of people that is governing the coin is a small government but is still a government. Ideally, imo there should be no voting or democracy, it should all be hard coded into the coin and any changes automatic based on code without any human supervision or intervention.

Full disclosure, I currently don't hold any ZEIT, but I respect it.  Things like this make me hold off as well since things seem changeable and up in the air whenever.  Who knows what a coin will really be in 10 years, will it be changed for the better for sure? How do you know?  I highly recommend not changing a coin just to manipulate the market. It might backfire. Just my 2 zeits for ya! Took me some time to write these thoughts.
 Smiley

Hi Derek,

Your input is always welcome.
However fiat money central banks are making decisions , without allowing the entire populace to vote which direction they are going.

Ours is different as All of the holders of ZEIT can directly vote for the change or vote against change.

Discussions and arguments were a few pages ago, and then we started the Vote.
Currently it is 15 in favor and 1 against, so the Vast Majority wants the change.

The original parameters and specs seemed great in the beginning, but as time has progressed, the flaws have become apparent.
Proof of Stake was looked at like a savings account from a bank, the problem is banks used to be able pay 5% yearly , because they were bringing in 18% or higher on loans.
Proof of Stake Coins like us are not receiving that loan influx to support paying out 5%. (It is being siphoned from our Market caps & value per coin.)

Example Mint, I watched it receive over $150,000 of Fiat which catapult it to ~30 satoshi .
But I have also watched your coin inflation eat away at that advantage until now it is down to ~4 satoshi with the sell walls increasing every day.

By all of us PoS coins ignoring inflation , BTC has been crushing us at the markets.
BTC makes less than 2000 coins per day, ZEIT & Mint are making millions of new coins per day.
There is no way for our prices to be stable much less rise , if we continue allowing such hyper inflation. (Simple Economics)

The Great thing about the ZEIT Community is there are a lot of thinkers over here,
where any other community would be too blinded by greed to change to Ultra Low Inflation, the community here is supporting it in Mass.

ZEIT & Mint Specs have been like Brothers, however we have discovered hyper inflation to be the most deadly of foes.
And We are Voting to Evolve and Defeat that foe.

ZEIT will not be static until an hyper inflated death, (like Sprouts, TurboStake, and others.)

ZEIT will Evolve , Improvise, Adapt and Overcome
1st to defeat inflation & Lastly to Dethrone BTC itself.
 Wink


 Cool

FYI:
Simple Fact:
Higher Inflation means people will have more coins but the Value per coin will continually decrease.

Ultra Low Inflation Changes the Playing Field, people will have less coins but the Value per coin will Increase.  Smiley


FYI2:
In regards to making a Change,
If you & your friends are driving a car and the road you are taking is heading off of a cliff to all of your destruction,
It is the Very Act of Sanity that all of you agree to change course and save your vehicle and yourself.
Compare Both ZEIT & Mint in 2 years time , and you will see 1 Brother left the original path and the other Brother stayed the course.
I am confident which Brother will Survive & Thrive.  Wink
sr. member
Activity: 356
Merit: 250
The problem I see with just voting and changing your parameters, is that what you are doing is essentially no different than what the fiat money central banks do when they meet and vote on changing their interest rates and parameters. I don't think you should change your coin unless it is an emergency or something like that. Just wanted to say something, maybe give it some thought. The whole point of crypto to me is to have something that is all automatic and eliminating third party risk. I think currencies should be built and let their design play out, for better or for worse. If people invested thinking the coin is going to be one way forever, and it turns out it's not going to happen, you may have some disgruntled people. Hard forking an established coin is a very serious and big deal imo should not ever be done. Imo, by changing your coin you run the risk of the coin losing trust. Because it means ultimately the design failed, so you capitulated and essentially created a new coin. New parameters that was not established from the beginning = new coin. A new coin with pre-established distribution, essentially equates to being a full premine or ICO because the distribution isn't fair for people to find out about the change before any investment happens.   I would be very careful since (correct me if I'm wrong) these changes you are proposing were not part of the original parameter goal and disclosure at the coin's launch and mining phase.  
If you do something like this, how can you say the coin operates without oversight and control by banks or government, when essentially what you'd be doing is the same thing. A small group of people that is governing the coin is a small government but is still a government. Ideally, imo there should be no voting or democracy, it should all be hard coded into the coin and any changes automatic based on code without any human supervision or intervention.

Full disclosure, I currently don't hold any ZEIT, but I respect it.  Things like this make me hold off as well since things seem changeable and up in the air whenever.  Who knows what a coin will really be in 10 years, will it be changed for the better for sure? How do you know?  I highly recommend not changing a coin just to manipulate the market. It might backfire. Just my 2 zeits for ya! Took me some time to write these thoughts.
 Smiley
legendary
Activity: 1204
Merit: 1000
to your stations, man the pineapples!!!
In the Continuing Attacks on Larger Denominations of FIAT Currency News

http://www.cnbc.com/2016/12/12/venezuelans-scramble-to-ditch-largest-bill-ahead-of-surprise-removal.html 

Quote
Venezuelans hastily dumped the country's 100-bolivar bill, the largest denomination, on Monday after the government said it would be pulled from circulation as the crisis-wracked nation suffers what is believed to be the world's highest inflation.

Socialist President Nicolas Maduro said the withdrawal of the bill — worth just 2 U.S. cents on the black market — was needed to reduce contraband of the bills on the Venezuela-Colombia border. The 100-bolivar note will be removed in 72 hours as of Tuesday, state media said on Monday, with new, higher-denomination bills due on Thursday.

Despite heavy printing of the 100-bolivar bills — 2.3 billion this year alone out of 6.1 billion in total — they are in short supply.

Luis Volcanes, 36, had for six weeks withdrawn cash every day but on Monday ran around with a big brown envelope trying to deposit that same money, only to find cash machines at four banks in a row were not working.

"This seems crazy, like the government did this on a whim. I don't know what I'm going to do," Volcanes said as people trickled in and out of a bank in Caracas, complaining none of the machines worked.

One man unable to deposit money yelled, "This is total chaos!"

Adding to the aggravation, Monday was a bank holiday, meaning there were no tellers. Venezuelans have 10 days to exchange the notes at the central bank.

While many business were not accepting 100-bolivar bills, poor people living day to day could not afford to reject cash and many were using the bills to buy food for the day.

"I'll take everything you can give me to eat today," said taxi driver Jose Manuel Henrique, 49, whose cash income goes entirely to feeding his two children. Still, Henrique, a former supporter of late socialist leader Hugo Chavez, was annoyed.

"The government can't get anything right. This wasn't thought out."

 Cool

this is the most curious decisions on govt part.
they must have a seeming rationale to remove these handy note, but it seems it will do a lot of damage to the local economy as one of it's short term introductory effects.
legendary
Activity: 1092
Merit: 1000
https://forum.zeit-coin.net - SSL Certificate renewed.
Tweet: https://twitter.com/ZEITCOIN - Should ZEITCOIN become an Ultra Low Inflation Coin?
Democracy will win...  Wink

Cheers,
Ray



Everyone Remember to Vote in the Poll.  Smiley


 Cool

Cool Changes,  If the Community Decides to become an Ultra Low Inflation Coin.

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.)  Smiley

legendary
Activity: 1092
Merit: 1000
In the Continuing Attacks on Larger Denominations of FIAT Currency News

http://www.cnbc.com/2016/12/12/venezuelans-scramble-to-ditch-largest-bill-ahead-of-surprise-removal.html 

Quote
Venezuelans hastily dumped the country's 100-bolivar bill, the largest denomination, on Monday after the government said it would be pulled from circulation as the crisis-wracked nation suffers what is believed to be the world's highest inflation.

Socialist President Nicolas Maduro said the withdrawal of the bill — worth just 2 U.S. cents on the black market — was needed to reduce contraband of the bills on the Venezuela-Colombia border. The 100-bolivar note will be removed in 72 hours as of Tuesday, state media said on Monday, with new, higher-denomination bills due on Thursday.

Despite heavy printing of the 100-bolivar bills — 2.3 billion this year alone out of 6.1 billion in total — they are in short supply.

Luis Volcanes, 36, had for six weeks withdrawn cash every day but on Monday ran around with a big brown envelope trying to deposit that same money, only to find cash machines at four banks in a row were not working.

"This seems crazy, like the government did this on a whim. I don't know what I'm going to do," Volcanes said as people trickled in and out of a bank in Caracas, complaining none of the machines worked.

One man unable to deposit money yelled, "This is total chaos!"

Adding to the aggravation, Monday was a bank holiday, meaning there were no tellers. Venezuelans have 10 days to exchange the notes at the central bank.

While many business were not accepting 100-bolivar bills, poor people living day to day could not afford to reject cash and many were using the bills to buy food for the day.

"I'll take everything you can give me to eat today," said taxi driver Jose Manuel Henrique, 49, whose cash income goes entirely to feeding his two children. Still, Henrique, a former supporter of late socialist leader Hugo Chavez, was annoyed.

"The government can't get anything right. This wasn't thought out."

 Cool
legendary
Activity: 1092
Merit: 1000
Me too. Otherwise I was going to be out some serious coin.
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.  Tongue


 Cool

That sucks man and so close to christmas too.  Angry 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.


 Cool
full member
Activity: 210
Merit: 100
Me too. Otherwise I was going to be out some serious coin.
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.  Tongue


 Cool

That sucks man and so close to christmas too.  Angry Do you mind sharing some details of what happened, I obviously cant help but im sure its a good story behind it.
legendary
Activity: 1092
Merit: 1000
Me too. Otherwise I was going to be out some serious coin.
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.  Tongue


 Cool
full member
Activity: 210
Merit: 100

Still a shitty situation but thanks again for helping me last night to get my wallet back to working. I really am grateful.

You're Welcome. Glad it worked out.  Smiley


 Cool

Me too. Otherwise I was going to be out some serious coin.
Did your friend get his coins back?
legendary
Activity: 1092
Merit: 1000
@Mq8azfTg6TejZtNnvxXRSbLTpVA2CCDyq5

Moving to MgbGqsVocQ6VJrABWa5bFMNikQSnAJZ9PM  makes no difference.

 Cool

FYI:
Your Time to redeem yourself is almost up.

FYI2:
Soon I will expose you, but for now I will tell you where you are NOT located.
You are NOT in Africa,
You are NOT in Bulgaria,
You are NOT in Canada,
You are NOT in Japan,
You are NOT in Iceland.
You are NOT in Mexico,
You are NOT in Poland,
You are NOT in South America,
You are NOT in Sweden,
You are NOT in Thailand or Taiwan,
You are NOT in Australia or New Zealand.
___________________________________
YOU ARE IN THE UK !
legendary
Activity: 1092
Merit: 1000

Still a shitty situation but thanks again for helping me last night to get my wallet back to working. I really am grateful.

You're Welcome. Glad it worked out.  Smiley


 Cool
full member
Activity: 210
Merit: 100
No worries about old Kiklo.  Wink

An asshat stole coins from a friend of mine.  Angry


 Cool

Still a shitty situation but thanks again for helping me last night to get my wallet back to working. I really am grateful.
legendary
Activity: 1092
Merit: 1000
No worries about old Kiklo.  Wink

An asshat stole coins from a friend of mine.  Angry


 Cool
full member
Activity: 210
Merit: 100
Hey Mr.  Mq8azfTg6TejZtNnvxXRSbLTpVA2CCDyq5 ,

First Off, What you did Yesterday was Wrong on so many levels.
You know what you did.

What you don't know is this, there is a little trick that very few people know.
How to track a wallet's address directly back to an IP address.

I now have your IP address, your ISP, the serial # on your computer, and even the mac address of your Ethernet connection,
oh side note, I also have your name & street address.  Wink

You have 36 hours to return what you stole to its original address, before I do the following
1. Post a Picture of where you live, along with your full name & address plus your relatives (Nothing like a little Family Shame)
2. Contact the local authorities and have you arrested for a cyber crime.

Your call the timer starts now!


 Cool

Someone robbed you, that's crazy. You're the nicest guy on this thread by far and just to inform you the tips you gave me yesterday to get my wallet back up and running worked like a workhorse. But what happened to you. Who stole what from you?
legendary
Activity: 1834
Merit: 1006
kiklo, What happened? Someone stole your coins?

Bastard....
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