Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 157. (Read 1009280 times)

In the WTF NEWS

http://www.examiner.com/article/germany-proposes-new-cash-ban-and-capital-controls-as-europe-rushes-towards-nirp

Last Friday, Japan was the first major economy to cross the 'Rubicon' by implementing negative interest rates (NIRP) in an attempt to force their people to spend, and slow deflation as the 3rd largest economy moves into recession. However, in this Japan is not an island, with several other nations already preparing to do the same to protect their diminishing economies.

And in all of this there is one surprising country that appears to also be preparing for NIRP as on Feb. 3, coalition group of German legislators introduced a bill to limit the use of cash, and to ban the use of the 500 Euro bill in personal and non-bank transactions.

The significance of this is that when a central bank implements policies that make holding your money in a bank a liability, then the natural recourse is for depositors and account holders to simply take it out and move their wealth into assets that are either outside their nation's currency, or into commodities such as gold and silver which provide no benefit to an economy that desperately needs its people to spend and create inflation and growth.

Hmmm,  
Gold or Silver or Crypto ,
Soon to be a mad dash for the 2018 deadline of a World Wide Crypto Usage.    

 

FYI:
Now we know they are serious they created an acronym:    
negative interest rates Policy= NIRP    
http://www.investopedia.com/terms/n/negative-interest-rate-policy-nirp.asp

odds are there won't be Federal Reserve Notes in 2020

Markets

Cryptopia BTC  @ 2 sat    : ~ 18 million ZEIT   : ~.361            :US $ 135.05
Yobit       BTC  @2 sat     : ~ 21 million ZEIT   : ~.423            :US $ 158.24

Cryptopia LTC 165-380     :~ 40 million  ZEIT   : ~ 87 litecoins  :US $ 267.09

Buying all of that gets to : ~ 79 million ZEIT    : US$ 560.38

With 21 million left to go, you would have to buy up the rest at 3 & 4 sat and a little from 5 sat from Cryptopia & Yobit.
over US $225

Grand total to reach 100 million ZEIT from scratch would be over US$ 785.38
It will be higher next year, as our interest rate / Harvest rate cuts by a 3rd down to 5%  forever more.
(Going to start calling it Harvest Rate instead of Interest, since Harvest is more accurate than Mining or Interest)
(Instead of PoS which something else comes to mind first, maybe we should call ours PoH : Proof of Harvest )

If it was me, I would buy up to 2 sat on the LTC markets once a week for the next few weeks and if by March 10th or so had not reach my goal, would buy up the rest from the BTC markets. After buying let the market rest for a few days to see how much refills at below 2 sat.

Only One New Knight that buys all their ZEIT from Scratch would put ZEIT at ~5 sat .

 

FYI:
2015 @~1 Year old , it only cost a little over $78 to attain 100 Million ZEIT
2016 @~2 Years old, it does cost over $785 to attain 100 Million ZEIT
2017 @~3 Years old, $ ?? , I would not wait, another x10 would put it at over $7,850

Europe has negative rates, In 2016 the US will Join the Negative Interest Rate crowd.    
http://www.bloomberg.com/news/articles/2016-02-02/rates-less-than-zero-is-bank-stress-fed-wants-to-test-in-2016


 

FYI:
Possible Future 2020 Farmer to Consumer conversation:
Consumer:  How much Money for a Dozen Eggs?
Farmer    :  $100 US Dollars or 12 ZEIT ,    

coinmin what exchange were you looking at

Ya, that's not so easy to become ZeitKnight... 

Bank stocks are melting down. This YTD performance is alarming:

$C -21%
$BAC -21%
$GS -15%
$JPM -13%

It's not just in crypto...

... where people are ripped by asshat devs.

http://www.pcgamesn.com/ant-simulator/ant-simulators-crowdfunding-money-all-went-on-parties-and-strippers-so-the-game-is-cancelled

In the Why Are We So Sure Crypto will Survive and Thrive in the Future News    

Easy Keep your eye on the Lying Fiat Bankers
JPMorgan CEO , Jamie Dimon tells everyone BTC will die.  (on November 5, 2015)      
http://www.coindesk.com/jamie-dimon-bitcoin-will-not-survive/

Here is JPMorgan Spending A LOT of Fiat Money on a trial project that utilizes blockchain technology!      (on January 2, 2016)
https://www.cryptocoinsnews.com/jpmorgan-begins-blockchain-trials/

Watch what people do and not What They Say!

 

FYI:
Future News in 2018 : All Governments discourage the use of cash and only crypto is recommended to be used to buy & sell goods.
Impossible you say, well as quick as the upper management type change their stance not entirely out of the realm of reason,  
or did they?  Here is an article from 1988
https://socioecohistory.wordpress.com/2014/07/26/flashback-1988-get-ready-for-a-world-currency-by-2018%E2%80%B3-the-economist-magazine/

New Knights can join March 1st thru 31st, 2016 .
Only ~29 days to go.


 

Tomorrow is 1st Feb. Who shall be the new Knight?

In the How will Humans Survive when the Robots do all of the Work News.

http://themerkle.com/news/will-the-swiss-basic-income-affect-bitcoin-adoption/

Or that is what most people will think when they learn more about the country’s basic income plan. Every citizen of the world would love to have a basic income, regardless of whether they are employed or not. Most countries around the world have alternatives, such as unemployment income, pensions, and other financial constructions that make life tolerable.

Switzerland, on the other hand, is looking to make a radical change. A nationwide voting will take place shortly, deciding whether or not every adult in the country will receive a US$2,500 basic income. It is important to keep in mind this basic income will replace all other benefits offered, though, but that doesn’t have to be a bad thing.

Will be interesting to see what happens with their plan.

 

How your personal computer runs is your personal responsibility.

True Story, back from my PC tech days in the 1980s  

Woman called me for PC repair, her complaints were that her computer kept crashing on her.
She had taken it to 5 different repairs shops, all 5 said the same thing , they ran the PC for days and it Never had any problems.
This was many many years before the Public had GPS or cellphones, in our days we used Maps , most of the time purchased from gas stations.  
She was giving me the instructions to her home, with those details came the answer to her problem.
She & her husband lived beside a large lake , and she explained it was so wonderful with the breeze coming off the lake there that they never used air conditioning.  
That is when her issues became apparent, our temps had been in the upper 90s near 100 during the days.
Her PC was crashing because it was overheating, all the repair shops failed to find the problem because they test it with their AC running.

This is how strange the lady was , she still did not want to run the AC during the day to avoid the increased electric bill.
So I told her she could run it at night when it was cooler , and that is what she did with no further problems.  

 

I wrote up the tutorial , so that if anyone mentioned these issues, anyone monitoring the forum could just point to the OP , so they could get the answer fast without having to wait for those of us that answer tech issue to see their post. I am a old guy, pushing 80 , I won't be here forever, but if I leave what I've learned a part of me will be.  
Plus I have been providing this info to alot of other coins forums recently, it just makes PR sense , the next time I find one of those issues, instead of typing it all out, I just going to point them to our OP, where they can get help. FREE ADVERTISING for ZEIT!!!

There are no issues with the ZEIT software it is performing normally. Ray is an Amazing Dev.
Bad software drivers from vendors , malfunctioning hardware, or electrical power issues are all on the user's side, and specific to every user out there, their is not much we can do on that.  How your personal computer runs is your personal responsibility.  

 

FYI:
Here is the Current Tips listed on the OP:
Install Instructions for New Users , with Blockchain Snapshot or BootStrap

Upgrade Instructions for Current Users, with Blockchain Snapshot

Instructions on how to use Coin Control.

Tips on Syncing with the network

Repair Tips for Wallets.

Tips on Staking

Maybe we should repair the fact that Zeit wallets need those repairs!? I was first told here I was crazy or that I did something wrong, and now I see a tutorial on how to fix it

ZEIT Wallet Repair Tips

#1 Tip:  Always have multiple backups of your ZEIT Wallet on either a external hard drive or Flash drive that is not connected to the PC at all times.
Placing the date of the backup in file name, example 2016-1-30-Zeit.dat (year-month-day) and the next day would be 2016-1-31-Zeit.dat helps catalog them.
Try to keep at least 3 or more backups.
(Reason, the CryptoRansom viruses that encrypt the files on a PC, offline backups are the only real protection)

Issue:  My amounts of coins reported is incorrect.

Repair Tip:
Be sure to have backup copies of the wallet.dat before beginning.
Start the wallet, make sure it is fully synced with the network, if after fully synced the number is still off,
Click on Help, click Debug Window, click the Console tab,
beside > type repairwallet , hit Enter key.
This should repair the wallet , check your balance under the Overview tab to see if it is accurate.
If the Balance is still not correct, close the wallet.
From the COMMAND LINE or Change the desktop shortcut so you run the following then restart the zeitcoin-qt.exe -rescan, this will also take some time.
Once that's done check your Balance and you should be good to go.


Issue:  The Following appears on more than 1 try to start the wallet.
"A fatal error occured. Zeitcoin can no longer continue safely and will quit.
EXEPTION: St13runtime_error or any errors about keys or address book or transactions corruption.

Step 1. Be sure to have copies of the wallet.dat out , then delete the c:\Users\"username"\AppData\Roaming\Zeitcoin directory (for Windows)

Step 2. Recreate the c:\Users\"username"\AppData\Roaming\Zeitcoin directory .

Step 3. Download the latest Zeitcoin Wallet 2.0.1.7

Step 4. Then Unpack and copy the files from ZeitcoinBlockchainSnapshot into
           C:\Users\"username"\AppData\Roaming\Zeitcoin
           Then open the Latest Zeitcoin Wallet and it will start syncing the BlockChain from the last snapshot.

Step 5. Once Zeit is completely synced , close the zeit wallet and then restart it , if it works then we know nothing is wrong with your system,
           If it gives an error , post the error in the forum.

Step 6. OK , if Zeit wallet started normally , now close the Zeit Wallet.
           Now rename the wallet.dat inside c:\Users\"username"\AppData\Roaming\Zeitcoin to emptywallet.dat

Step 7. Copy your old Wallet.dat into the  c:\Users\"username"\AppData\Roaming\Zeitcoin  directory.

Step 8. From the COMMAND LINE or Change the shortcut so you run the following  zeitcoin-qt.exe -salvagewallet
           this will take some time , if it works then restart the zeitcoin-qt.exe -rescan , this will also take some time.
           Once that's done you should be good to go.
           (There have been reports this works better if you copy the zeitcoin-qt.exe into the same directory as the wallet.dat and run the commands inside that directory.)

If the Above information does not help ,then your wallet.dat is seriously corrupted and salvagewallet was unable to repair it.
Here are your available options:
1. Dump your Private keys and import into another ZEIT Wallet.
steps: Open the wallet, Click on Help, click Debug Window, click the Console tab,
For unencrypted wallets: beside > type dumpprivkey (ZEIT Receive Address) , hit Enter key.
For encrypted wallets:  beside > type: walletpassphrase "your walletpassphrase here" 600 , hit enter, then type dumpprivkey (ZEIT Receive Address) , hit Enter key.
Copy and Paste the private key along with the ZEIT receive address into a text document.
Repeat those steps for each of your Receive address that had ZEIT in them, once you have finished.
Go to your new ZEIT Wallet installation.
steps: Open the text document created above.
Open the wallet, Click on Help, click Debug Window, click the Console tab,
beside > type importprivkey (Paste your Private Key here) , hit Enter key.
Repeat until you have imported all of your private keys into the new wallet. Then Close & Restart your wallet with zeitcoin-qt.exe -rescan .
You should be good to go.

*ZEIT Tip:
Wallets should always be encrypted to protect your coins, as encrypted wallets require your password before coins can be sent out, unencrypted wallet have 0 security and anyone that opens it can remove your coins without your approval.

If all of the above has failed , and you were unable to recover your private keys from any of the backups.
Only 2 options remain:

WalletRecoveryService
http://www.walletrecoveryservices.com/
Never used them before so post a review if you have used them.

OR

If you are into python programming:
Then check out on how to extract the keys.
https://bitcointalksearch.org/topic/pywallet-help-need-to-recover-private-key-from-walletdat-615391
https://github.com/jackjack-jj/pywallet

*ZEIT Tip:
If you are a Windows Users and never made any backups, you still have 1 hope,
An App called shadow explorer that can let you restore from the last shadow copy windows created
http://www.shadowexplorer.com/

Having to go to these extremes are very rare, but corruption issues like these can be caused by malfunctioning hardware & power issues.
Backups on external drives are your best friend. For people that only stake a few times a months, backing up before closing your wallet is good.
For Knights or people that stake a lot, daily or at the minimum weekly backups are recommended.
(If you are staking ~100 times per day, backup Daily to protect your ZEIT.)

 

Nice work

I've added to our FB page & shared it.

Maybe it's time for a wee gfx compo amongst the troops?

Dollux is just asserting his right to Liberty.