Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 173. (Read 1009280 times)

You are right to flag the issue up, but I'm not too concerned at this moment in time. I read the silicon article and thought it was biased against Cryptsy. Hardly impartial journalism. There was much presumption and very little fact - and presumption being pushed forward as fact. I believe that Cryptsy is being targeted by unscrupulous people. DDos attacks, spamming with micro-amounts, rumours etc.

I'd like to see Cryptsy continue to be a mainstay exchange. If they go, I've a feeling the real villains will step in. Better the devil you know. Just my thoughts.

Here's a recent interview with Paul Vernon, who gives me the impression that he is a decent guy:
www.newsbtc.com/2015/10/07/cryptsys-ceo-a-hard-man-in-the-face-of-coinfires-aggro/

https://www.reddit.com/r/Bitcoin/comments/3pknoy/cryptsy_not_processing_larger_withdraws/

Volume is always an interesting discussion, right now BTC probably has the most honest volume , but a large part of it is from altcoin & fiat trading.
All of the rest are still functioning as commodities not currencies, even BTC with its high volume is still basically a commodity.
Most of those alt coins are just Wash trading to up their volume, so aside from BTC & LTC , I take their numbers with a grain of salt.

ZEIT will survive & prosper no matter what happens with the exchanges.
Because at the end of the day, we are more than a commodity, more than a currency,
ZEIT is a Virtual Resource that can bridge the virtual & physical worlds.

Right now just holding ZEIT gives 20% , so everyone is holding which decreases volume.
And the miners who have a massive amount are still dumping, don't forget our Chinese friend that unloaded 40 million recently , left over from pow mining.
And the traders place low buy orders, which the pow miners dump into and then traders resell it at a higher wall to earn profit, but they also cause a downward price pressure.

But here is a happy thought.
On Cryptopia our trading volume measured in Zeit for only the 21st , is over 3½ million Zeitcoins.
With the current price it is only ~$11. But when the price of Zeit is only $ 0.005 (half a penny) that exact same trading volume is over $17 thousand dollars.
So the $ liquidity everyone wants , will come as our price increases, in fact we have the liquidity now , it is just that the pow dumpers and day traders are crushing the price. As the Knights grow in numbers & strength and Zeit drops to a 5% rate, we shall overpower the day traders & whatever is left of the pow dumpers.  

 

Let's don't mix two things. Price is one and the volume the other. I am not talking about the price here. It is how it is, I don't care about price of ZEIT now, although if not pegged to LTC by Cryptsy, it could have been in some other place.
What I am talking here is volume of the trades and namely, the remaining 3 out of 4 exchanges are so called dust exchanges. Not bad if you want to have it on the list in the OP, but not bringing much liquidity overall. On a bad day like last 24 hours where total volume was $57 the proportion between Cryptsy and the rest was 75:25. On a days with higher volume the share of Cryptsy has increased usually to 90-95%.

On the unfolding Cryptsy Saga, rumors are the siliconangle article is a continuation of the hit piece done earlier.
As far as the truth to any of it , we should find out next year, because at the moment everything is rumor.
That being said , never ever leave more coins sitting on an exchange than what you are willing to lose.

We have 4 exchanges in 4 different countries, if anything does happen with Cryptsy , 3 will still be operational, not many coins can say that.
Then we would evaluate what actions are needed. If all of the volume moved to cryptopia, then no rush, if not then a lot of effort would be placed in getting on another exchange.

Zeit 20% rate will be over in a few months, then we got 1 year at 15%, once we hit the 5% , excess Zeit will no longer be a major issue, also concerns over exchanges staking will also be a non issue then.  That's when our price will begin to skyrocket.  We could speed the process up, but it would require going to the 5% rate a year early, but that idea always gets shot down.


 
 
FYI:
Side note , most of the trading shenanigans happen on Cryptsy that keeps the price of Zeit artificially low.
Bad if you want to sell, however Great for people just buying the coin.  

the bad thing about this news is, if Cryptsy goes belly up, ZEIT is left with no exchange of significant volume. For much how you or I may dislike Cryptsy (for sticking ZEIT to LTC for ever, among other issues) the fact is that is and has been the only exchange with 50M+ volume over one month period. According to coinmarketcap Cryptsy is about 75% of our entire volume. Which btw. is $57 over the last 24 hours (Recommended listening: Good times, bad times!).

I raised the issue of having more big volume exchanges some time ago, although majority of knights were rather reluctant, turning a deaf ear to that, so to say. Now, it looks we may look for plan B sooner rather than later, as I don't believe that all volume will move 1:1 to yobit, cryptopia and co.

BREAKING!

http://siliconangle.com/blog/2015/10/19/bitcoin-exchange-cryptsy-may-have-gone-full-mt-gox-refuses-to-pay-out-customers/


Don't say you didn't have fair warning if the worst happens.

ZeitBlockchainSnapshot & Bootstrap updated to 10-17-2015

Install Instructions for New Users , with Blockchain Snapshot or BootStrap


 

ethereum went to .01btc  in august. i dont think the people that got out 6 months ago are very happy with that advice.

"The more Zeit that ends up in the hands of real people, rather than than traders, the better placed we will be to play a prominent role in the inevitable post-fiat world."

Agree.  So hopefully their are new investors taking a look a ZEIT.

I still think crypto is in for 2-3 more rides on the BTC train, $/btc cycles, then it will shift to the ALTs4ALTs conventional wisdom.  Bitcoin peaking and dropping will have less immediate effect on the ALTs.  Other viable trading pairs are already gaining ground.

ZEIT is well position in that it is associated with the LTC pair not so much BTC, and if it can hold a big chuck of support at 1-2 satoshi then it will become a stubborn little hard asset.

Ray, your sense of humour is wasted on most, but really appreciated by some

'National, where the heck do you get your numbers, and your forecasts, from?

'tiz true that the alt-TRADER-world is dumping to ride the BTC train, greed is as greed does, but that says NOTHING about the long-term viability of those alts which have proved themselves to be more than scam-coins.

BTC will NOT hit 300 this year, nor will it plunge back to the 220s'. The proven TA gurus I keep my eye on expect medium-term stability between 255 & 265 through the winter. These are the same guys who told people to get out of Ethereum 6 months ago!

With the so-called holiday season approaching, wouldn't it be a wonderful thing if, led by the Knights, we were to give the gift of Zeitcoin (and the knowledge of how to secure them in their own wallets) to those we love, rather than socks, perfumes & chocolates?

The more Zeit that ends up in the hands of real people, rather than than traders, the better placed we will be to play a prominent role in the inevitable post-fiat world.

zeit

TALKJ https://bitcointalk.org/index.php?topic=864994.180
#JFA42.0 https://bitcointalk.org/index.php?topic=874423.new#new
#JFA42.1 https://bitcointalksearch.org/topic/m.11080645


the answer is $ 271.83    
that's BTC price
so all alts are stuck in a slump as many are dumping to ride btc
i'll be shocked if it goes above $300 ... and watch for btc to drop hard if it can't crack the $300s

Zeitcoin wallet is working well with latest MacOS "El Capitan".
You can change your ZEIT at Novigrad Vivaldi bank into crowns.  



Cheers

Got it without a ticket, Cryptsy is getting better.

In the Exchanges Bite the Dust , News.

http://www.newsbtc.com/2015/10/15/devastating-two-cryptocurrency-exchanges-shut-down-in-48-hours/

Bitstake & Yacuna 

 

Got a few buys myself but the last withdrawal got stuck in their queue.

Date                          Type   Price Each (LTC)        ZEIT Traded                Total LTC
2015-10-14 13:59:58   Buy   0.00000090      3000000.00000000      2.70000000
2015-10-14 02:02:20   Buy   0.00000103           1742804.02572585      1.79508815
2015-10-14 00:44:55   Buy   0.00000103           5106585.19710958      5.25978275
2015-10-14 00:33:45   Buy   0.00000103           712530.71891214   0
2015-10-13 20:03:58   Buy   0.00000105           2253675.74285714      2.36635953
2015-10-11 14:04:58   Buy   0.00000116           10321561.57635468     11.97301143
2015-10-11 13:30:40   Buy   0.00000116           1714.28571429   
2015-10-05 13:59:46   Buy   0.00000150           4300000.00000000      6.45000000
2015-10-04 00:33:42   Buy   0.00000167           4001951.10778443      6.68325835
2015-09-27 16:10:05   Buy   0.00000190           150.20960000   
2015-08-20 00:24:53   Buy   0.00000173           4303068.59817512      7.44430867
2015-08-20 00:24:53   Buy   0.00000180           6000000.00000000     10.80000000
2015-08-17 02:45:55   Buy   0.00000181           467775.41341396   0
2015-08-17 02:16:29   Buy   0.00000181     1788560.00000000       3.23729360

My last purchase. It seems to me that some desperate attempts to sell cheaply their ZEIT.
Please to support me

Answer depends on how fast new blocks are found.

After Block # 2102400 , ZEIT will start 15% rate.
Current  ~ # 1861169 ,

If ZEIT averages 2.25 blocks per minute 2.25 blocks * 60 minutes =135 blocks per hour
135 blocks *24 hours = 3240 per day
2102400-1861169=  241231 blocks until change
241231 blocks /3240 blocks per day= 74.45 days

So you are looking at the change happening somewhere between Late December and mid January.
But the block # the change will occur at is #2102400 .

 

FYI:
15% rate starts at block #2102400.
5%   rate starts at block #3153600.

C-Cex I think - Can't find the email now

Some support at 100 Litoshi on Cryptsy, when will the Cyber Monday sale end?