Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 121. (Read 1009280 times)

lol , that not good idea  . I have now from pos 300k zeit .Ok from 5% it will be around 100k and it is also good. But what are you trying to do now is to save your tons Zeitcoins from price dumping .And now zeitcoin is like another fork and no more .I think if you will do it ,0.0005% per year. We will see huge dump and price will be not more 1 sat , because people who bought zeitcoins  thougth about 5% pos . They will not wait a long time to dump their bags, if they cant pos zeitcoin.

If incentive to stake is required while the ultra low inflation fixes our price per coin.

I will paid up to 8 users 250 thousand ZEIT each , every month that they agree to stake 24x7 and act as a node.
So they would receive that plus their small interest plus whatever fees they collect from processing transactions.

Would send the 250 thousand ZEIT payment at the start of each month.

Although I would hope the Knights would continue staking to Protect the coin until prices rise , until the utra low interest makes staking worthwhile again.


 

FYI:
If the 15 Knights keep staking and the 8 users, I would pay.
It would give us 23 Nodes online ~24x7.
More than enough until our price builds.

Thanks for the comments,   

 

Thanks for the comments , r0cinante .

If everyone agrees to the ultra low inflation, I would keep my node running 24x7 , which I do any way.
But if no one else is willing to help, then we will also have to drop the minimum stake age to 1 day and remove the block spliting, so I can keep the network running without help. Although if people would help they would receive their % and fees when they process transactions.
(Also if the people don't keep their wallet synced they can't send or receive any coins.)

Here is the path we and every other coin is on, PoS or PoW, we keep increasing our # of coins daily, while BTC keeps decreasing its # every 4 years.
It is deflationary while we are inflationary , it's price will always rise compared to ours unless we go to an ultra low inflation.

If we want to win we have to choose ultra low inflation, or we fail like sprouts & Tek and the others.
What good is our coin if the price keeps dropping, an infinity of Zero , is still ZERO.

Our current mk is $217,200 , what is funny is that everyone likes to pretend we have a choice here.

The Truth is there is no choice, we stop the coin inflation or it stops us.
Choice
1.  We move to ultra low inflation , Live & Thrive & Prosper
or
2. We stay in the hyper inflated path like all of the other Crypto knuckle heads , and we suffer the same fate as them.
Sprouts is a prime example.
https://www.cryptopia.co.nz/Exchange?market=SPRTS_BTC
They almost about to fall out of the litcoin market to doge only
https://www.cryptopia.co.nz/Exchange?market=SPRTS_LTC  

 

   
 i would not have a problem with the change, but we need to be practical; who is going to run the wallet to support the network for 0.0005%?
an incentiveized node network might work tho
look at fluttercoin, for example

https://i.imgur.com/SoYUltH.png

https://i.imgur.com/mI3qodT.png

Zeightknights might volunteer to keep nodes up also   

Sounds like a good plan that needs to be implemented sooner rather than later.
Isn't this one of the reasons the Knights were created?  Make it so Knights.

Thanks for your comments.

1% is still too high,
ZEIT is such a massive coin that even 1% would be over 6½ million coins per month. (At current staking rates)
That in 1 month is six times the total supply of other coins.

We would have to go down to 0.0005% (0.000005) per year,
that would leave us only gaining ~ 180,000 new coins per year (basically ~15000 new coins per month).

The stronger we tackle the inflation issue, the sooner our value per coin can begin to increase.
Even if we did it today, it is still going to takes months before it has a noticeable effect in the markets.

Lion brought up a good point that in TRW, 5% interest on Bank accounts was the norm.
However the reason the banks were able to do that is they were loaning out multiple times the amount of their deposits and Charging Higher interest rates on those loan above the 5%, we have no such system in place here, which is why we have to control inflation to offset the damage that an ever increasing supply can cause.

 

FYI:
It all comes back to this,
Do you want a coin with very little inflation , that the Price can rise per coin?
or
Do you want a coin with 5% inflation, that the price is always in decline?
You have more coins but each coin has less value as time goes on.

FYI2:
Look at all of the people buying up BTC, just to hold receiving 0% interest,
we have to go ultra low inflation , if we are going to beat BTC. (There is just no other way around it.)

FYI3:
Monday BTC generated only 1,728 new coins
Monday ZEIT generated 8,623,833 new coins.
Our price will forever be crushed by the inflation, unless we switch ,

After the switch to an ultra low inflation rate of 0.0005% per year,
BTC still generates 1,728 new coins
ZEIT generate only ~500 coins per day.
Our price verses BTC & Fiat would rise.  

If you want to change pos rate to 1% . Than do it better in 1 year .

Thanks for the comments Fred,

We would have to go down to 0.0005% (0.000005) per year,
that would leave us only gaining ~ 180,000 new coins per year (basically ~15000 new coins per month).

I imagine , if we did change the % that low, we would not need to changes any other specs.
As your amount earned per block would still depend on your amount in the block.

Does dropping to 0.0005% per year appeal to everyone more, than the fixed amount that would require the additional changes in minimum stake age?

 

FYI:
From Marketing aspect after the Change, if everyone agrees,
we could list ZEIT as an Ultra Low Inflation Coin.

I agree something needs to be done.  I also agree with the long term view, not the short term.  My concern with a fixed amount per block would be the possibility that it would encourage people to have lots of very small blocks vs. the incentive now to consolidate blocks occasionally to improve performance.  Perhaps a very low % vs. a fixed amount?
Fred

Thanks for the comments ,

The PoW miners created a massive amount in the 1st few months and then a year at 25%, another year at 20% , and now 15% , soon to drop to 5%.
ZEIT is such a massive coin that even 1% would be over 6½ million coins per month. (At current staking rates)

Since we allowed inflation to run rampant for 3 years, now we have to be drastic to correct it.

At a fixed reward of .05 ZEIT per block, it would take 1 day to create 144 new coins after a year only 52560 new coins would be created.
This will increase the value of the existing coins every month, as the sell walls can no longer be refilled at Zero cost to the seller.

We either stay on the same course as coins like Tekcoin , which ends in falling out of the satoshi markets,
or
We choose a Different Path, one where the Value of our Coin increases more than amount of coins we possess.

Everyone owning even a million ZEIT , if your amount stays basically the same but the price moves to 1 penny , you just make $10,000 per million coins.
You have an even greater reason to hold , as staking will not provide an excessive amount to sell.
Staking nodes will still receive the .05 per block and any transaction fees they help process.

Recent Example,
Someone Purchased all of the ZEIT up to 28 satoshi , and our marketcap spiked up to ~6 million US .
Within 24 hours, sellers had reloaded the sell walls on that market with more coins than were originally there which bombed the price back down to under $500,000 MK.

If we want to succeed, we have to get our inflation under control, which is why I recommend the following changes.

1.   Block Reward be changed to Fixed .05 ZEIT per block forever.
2.   Minimum Stake age be reduced from 20 days to 2 days, the rest of the specs would stay the way they are now.
3.   Code update so Blocks no longer Split when they stake, reward amount just adds to the block.

We either increase the value per ZEIT or continue increasing the numbers at the expense of it's value per coin.

 

Hello Kiklo

I think the final Interest Rate has to be lower.
At this time I think that this has to be at 1% or below.

As far as i know BTC is an Deflation Coin .
I think In the long Run a Coin need inflation, not much, but it must be there.


Warbird023

If the 5% rate dropped our inflation enough, I would never even suggest it.
But over 30 million per month will still be too high for the price to rise.

Our own coin is refueling our enemies sell walls.

We defeat BTC in every aspect, the only place we don't beat it , is inflation control.

That needs to change before we end up like Tekcoin & Hyperstake & Sprouts & Turbostake.)
(They also took a wait and see approach.)

Anyway, that is my opinion, if anyone has a better idea more than willing to hear it.

Staying exactly the same may feel safer, however it is the same as staying still in a house that is on fire, eventually your time runs out.
We still have time to control the inflation and stay in the BTC markets.


 

nope , now is good 5% . We dont need hype and than dump .I would like for example ti buy more for low price now .

@kiklo

I can see why this might be attractive to some, certainly in the short term, but my initial 'vote' is to leave things exactly as they are for now.

We have already reduced inflation from the original specs by abandoning the 10% phase.

The artificially-manipulated low inflation rates in TRW can't & won't last.

Lowering production in order to raise the price only benefits the short-term speculators & dis-incentivises long-term investment.

Me, I'm playing the long game. I have faith that crypto-coins will play a pivotal role in the global economy in the medium-to-long term, and that Zeitcoin possesses all the attributes needed to become a meaningful part of that 'new economy'.

No gimmicks, no bullshit PR, just a solid, reliable, simple, energy efficient alternatives to the rapidly-imploding fiat system.

"That'll do, piggy"

i would have 1 coin and price will be rissing always...for example i would like have 1 zeitcoin with price 0.0001$ and that will be rissing until to per zeitcoin= 1 USD   

updating
suggested POS coins by TALK community
https://bitcointalksearch.org/topic/m.17030173
Zeit has long been on the list

honorary ZEIT community rep'n for you is Kiklo (Many Thanks for his insight)
anyone feel free to stop by and say 'hello world'

I will issue 25 TALK to any ZEIT community member if you wish to trying out for 1 ZEIT..PM to trade..

I know many of you would like to see the price per coin rise faster.

So I wanted to throw out an idea and see what everyone thinks.

At our current 15% interest rate, we are making on average ~100 to 200 Million new coins per month.
When we drop to 5% interest rate, then should be ~33 to 67 million new coins per month.

Easiest way to increase price is to stop all new coin creation.
Say setting a fixed reward of .05 ZEIT earned per block, this limits us to only ~144 new coins per day or only 4320 coins per month.

At that level of coin creation, Prices will rise in a few short months.

Questions:

Would you be willing to accept this change and keep staking at the lower rate to protect the network?
(We may need to lower the min stake age from 20 days to 2 days to compensate for the people that no longer stake.)

New Knights would still be accepted, but the Knights would no longer have to tithe, since the interest rate would not be high enough to cover it.

Any way it would be a drastic change, what is everyone thoughts?

 

FYI:
Compare this in your mind , while you think about it.

Would you rather have a coin worth a penny, that earn very little interest yearly, but it's price would keep rising
or
Would you rather have a coin worth less than a satoshi, that earns 5% yearly, with more coins being created every day.

That is literally the choice we face in our battle with inflation.

thanx bro for your explain...i underestand...if they want 2-3 btc !!! we happy with current 5 exchanges.they must add zeitcoin without price...

We won the BTER vote and were at the top for 6 months, and they ignored it.
There is nothing left , but for them to honor their voting poll and add us, which they have failed to do.

Poloniex does not communicate at all with any requests.

Kraken does not seem to have any area to add new coins.
If you have a link to request a new coin on them, PM it to me.

We have alcurEX , CoinExchange , Cryptopia , Novaexchange , & SouthXchange .

That is 5 working exchanges , it would be 6 if Yobit ever fixed their wallet, but I gave up on them months ago.

If you want more exchanges
Contact Bittrex and paid the ~ 3 BTC fee and they will add the coin of your choice for 6 months.
or
Contact Bleutrade and paid the ~2 BTC fee and they will add the coin of your choice.

Personally happy with the current 5.