Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 120. (Read 1009280 times)

Ahh yes thanks Kiklo

1st guess would be No.

ZEIT requires over 1 gig of ram , and the Pi3 only comes with 1GB RAM .

I would say it would have to have at least 2 gig of ram to even try.


 

Is it possible to run the zeit wallet on a raspberry pi3 running ubuntu?

Yep, it's obviously inflation that kills cryptocoins...

http://www.altcointoday.com/ethereum-free-fall-floor-beneath-drops/

Details needed are
ISP Type : Cable or DSL or Fiber
IP  :  Static or Dynamic (If a dynamic address is fairly stable ,meaning it rarely changes it's ip address , that would be acceptable)
Number of ZEIT you will be staking in an ZEIT Address, (This is also where the monthly payment will be sent.)
OS : Windows or Linux or Mac
Is it a standard PC or a VPS ?

After Ray checks off on going Ultra Low Inflation, and releases a schedule for the update.
About 1 week before it goes live , I will post the above questions and people can PM me their answers,
From their I will choose 8 to be paid nodes. 

 

I can run a wallet 24/7 on a spare pc.  Is there anything else needed besides running the wallet or any special requirements?

Cool,  

So that solves the staking issue for us.

Here are the Software Changes that are required for us 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)
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)
3.  Blocks no longer Split after staking, stake amount just adds to the block amount. (Recombining smaller blocks will no longer be necessary)

Does anyone else have any more issues or concerns that they want addressed about going Ultra Low Inflation?

 

Lets try .it will be interesing to see what will happen next year than.

@msdoter7

In reference to the incentive to stake question.

The Knights will have to stake to protect their investment.

I will pay 250,000 ZEIT every month to 8 nodes (non knights) that will stake 24x7.

In addition , the ZEIT Joust Game will pay out a 120,000 ZEIT per week to the three addresses that win the Block Joust.
(Anyone can win, even exchanges)

So is this not enough incentive to stake, plus the facts the price of the coin will no longer go down in price only Up.

So those that do accept the 250,000 per month, if they wait til ZEIT reaches a penny would have received $2500 for staking monthly. 

One year of doing this will cost me ~42 million ZEIT directly out of my pocket and I will do it gladly so we can defeat BTC.
And if needed, I have enough coins to go a 2nd year, before it would compromise my status as a Knight.

So msdoter7 what do you think?

 

Well Done,  Sir Knight.   


 

kiklo, my wallet is open 24h/7

 

Once we make the move to an Ultra Low Inflation coin.

ZEIT Weekly Block Jousts Tournaments could begin.

1st Joust Which ever ZEIT address with the Highest Difficulty # for the week , would receive 120,000 ZEIT

2nd Joust Which ever ZEIT address with the Most Transactions in one block for the week , would receive 120,000 ZEIT

3rd Joust  Which ever ZEIT address with the Smallest Staked Amount per block for the week , would receive 120,000 ZEIT


 

Every Day we postpone is another few million ZEIT , dividing the coin's value verses BTC.

We do need Ray , as the Dev he has Veto power or the power to make the program updates.
So the Final decision will be his.
I PM him , when I made the 1st post about going ultra low, real world may tie him up for a month or so, before he can check in.
Which is why now is a good time for discussions , so we work out exactly what needs to be done.

As far as the exchanges, if people are crazy enough to keep all of their coins on the exchange, and the exchange goes under, or loses their coins,
then that just decrease the supply of coins and raises the value for the ones that are left.

Something this big should be decided by all of the community.
Ultra Low inflation is the only Solution , I can see that will raise our price per coin.
I have asked the entire community if they have a better idea , that allows us to absorb millions of new coins each day without losing value,
Then Please Share it, but I don't see any other method that will work except going ultra low.

The Knights have to stake to support their investment,
I will pay out of my pocket 250 thousand ZEIT per month to anyone (up to 8 ) that will run a staking node 24X7)
And I am exploring other incentives on a weekly basis, such as ZEIT Block Jousting where the winner receives 120 thousand ZEIT every week they win the joust.

15 Knights & 8 Paid = 23 Nodes
Plus whoever joints the Joust Contests.

 

FYI:
After 1 year  , our price will probably be so high, that these additional incentives will no longer be needed.
Plus the Paid nodes are a good way for Aspiring Knights to earn their knighthood by protecting the coin.  

I still think that it's too early to make such a drastic change to the 'essentials' of the coin, and also the wrong way to go about doing it.

We should plan to let the 5% rate run for a full year, and consider over that time the future direction to take.

- Hearing from everybody involved, especially Ray, then having a COMMUNITY decision about it.

The drop to 5% will reduce 'inflation' by 200%, the biggest drop in our history, so to me it makes sense to give THAT change a fair chance before deciding on a hyper-drastic change.

The thing that worries me most is that under the proposed change, there will be NO incentive for peeps to keep coins in their wallets, so won't they then just park the lot on the exchanges?

- And you can't keep a network going with a handful of nodes.

Final thought (for now) I feel this should have been proposed & discussed within the Knights long before it was 'announced' here.

- That's just NOT the way things are supposed to be done 

wow , great to hear it . When are you going to change pos ?  Need to buy now Zeitcoins because price can go till 100 sat .And we will see Bittrex or poloniex than . After that update we can start twitting bittrex and polo to add zeitcoins to their exchange .  

Ok, try to find better way .If it help ,than do pos 0.000005% like for  an ultra low inflation coin

I think you are rigth , than do it  pos to  0.0005% per year .

Thanks Fred,   


 

Then give me a better idea, because ultra low inflation is the only thing I can see that will work.
Have you looked at the markets today, the high inflation has already dropped us to $209,419  .

Look at Sprouts , Tekcoin, Turbostake , what good has been having stakers , when there price heads toward Zero.

Explain to me , how are we going to increase in Price against BTC when these are the Numbers we face.
Monday BTC generated only 1,728 new coins
Monday ZEIT generated 8,623,833 new coins.

We are better that BTC on every level , Except Inflation.

I setup an investment system to support ZEIT, it has been pulling millions off of the markets all year, which is why we did not crash with BTC spiked.
That investment system has been turned off, it is unable to match the growing inflation, there is no point to it , until we become an ultra low inflation coin.
Then it will take time, but it can start to make a dent in the sell walls and increase the price of ZEIT for everyone.

We can change the minimum stake age down to 1 day, and even if no else will help, I alone will keep the network running.
Our situation is that dire. How long are you going to stake your 5% when ZEIT is only 1 Litoshi?

 

FYI:
We are still at 15%, we have not moved to the 5% yet.

I would do this.  I already keep 2 wallets running from 2 different IPs almost 24x7 (except when I forget to start them after restarts).