Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 257. (Read 1009352 times)

People do a lot of things before they realized the truth.
Barbershop blood letting was one.  Mining POW coins at a financial loss is another.
In my logic POW is not sustainable in the long run, it will be government or corporate controlled.
POS Profit can run forever due to the fact it causes no additional drain of resources ,
financial or electrical.
If your logic does not agree with that, we can just agree to disagree and let history shows which of our concepts was accurate.

 

I think it is the short-term focus of the majority of people who are in the altcoin market that makes PoS fail (or not work as good as intended).
Setting long-term view and having a reasonable PoS interest rates, as in case of ZEIT, should work, at least in theory - no doubt about that.
It doesn't however, because the potential profits to be made from trading overweight the interest you can get from staking and the risk of holding your coins short-term on an exchange, combined.

By that logic POW isn't a problem either, look at all the people trading btc and ltc....

The server is live now, so if you wanna check your connections/headset etc or even have a private chat, just go ahead. I won't be giving it serious attention until 21:00 though. Any probs, post here please. Lets see if we can break the attendance record (again!) tonight

hi kiklo - thanks for your concern and support! No, 'they' acknowledged the ticket but no human has responded yet   

@Groggin

Did Lazycoins return your Zeitcoins to you yet?

 

Interesting way to look at it , but think about it like this.
If all the people with POS refused to spend the coins why is it that the trading volume on cryptsy stays at least ~200 million zeit, people are selling their zeit coins and alot of people are giving away the interest for whatever the buy price is currently, that is why most POS coins that have a decent amount are all below 10 satochis.
Also on Comkort zeit was purchased up to 590 sat, and someone just added 1,554,275 of zeit at 589 sat.
Also most people can't believe it will rise to $1, they only see maybe a doubling at best, so they are selling whenever it hits the imaginary # they feel is too high. It will literally be their loss.

We don't have the requirements POW have,  they need more resources every 2 weeks to keep the same output.
After 1 year Zeitcoin will run on the same hardware just as well as the previous year,
Electricity & Asics prices will eventually kill all POW coins , the last survivor will be BTC , who will be either completely controlled by the corporations or the world governments.
Zeit will be the only coin that survives BTC , as we don't have it limitations.

Examples,
BTC miners quit mining because BTC price was too low.
Too many quit and you have a 51% attack or the BTC network dies as the blockchain freezes.
Our Zeit Network run on PCs , as an app that can be minimized , and basically costs us nothing since we are using our PCs anyway. So our network can run no matter how the price of zeit change.  
POW can not match that.

And Zeit Speed compared to BTC and even LTC, is amazing.
Zeit leaves both in the dust speed wise.

 

Appreciate the detailed response kiklo.  I am currently running version 2.0.1.5 with an existing balance of > 1mil zeit presently.

Also appreciate the link showing how to access the Coin Control Tips.  Wasn't even aware that feature existed within the zeit wallet.  Although honestly it would be great to have some sort of RPC command built directly into into the qt client for displaying coin minting related information.  TBH, I'm not entirely sure what all of this stuff means under coin control window as of yet but will take a closer look at it when I can.

I suspect I'm just going to have to wait another a few more days to complete 20-day cycle from last minting and just take it from there.  More than likely I'm just getting to anxious

I'm a big supporter of zeit and client mining, but your theory about POS beating POW has been disproved, it's simply not true and leeds to other difficulty not solving the problem what bitcoin and other crypto stand for, namely selling coins to maintain the network, people with pos refuse to spend their coins, grinding the theory about crypto nto a halt...

Put it on the exchanges and lets see what happens.  
But you will probably have to wait until zeit is at the 5% rate.

Don't think when we hit a buck , you & Mitras are not going to get an I Told Ya So.  

 

FYI:
POW coins prices has been falling for months now,
Ask yourself what happens if the US Auction of 50,000 BTC triggers a temporary price collapse in BTC or thru some strange quirk in LTC, and BTC price drops to $10 or LTC to 1 penny, if such a thing happens, it will become clear that POS style coins are the only ones that can stay profitable.
Once that thought reaches enough people Zeit will be purchased like we have never seen before.
And you guys who are saying it will never reach a $1, will be refusing to sell your zeit for $1 because you will think it is worth more.
Been running multiple simulations of Future Events that can affect Zeitcoins, it hits at least $1 in every single one. The speed of it reaching $1 vary in different simulations, but the result is the same in all.
Ask yourself if LTC dropped to a penny would you sell your zeitcoins or would you buy every zeit you could get your hands on. Long Range thought there will be a US $ pairing with Zeitcoin when we hit a $1.

Stop dreaming about zeit to reach 1$ 

But if you really think it can happen, I'm ready to sell my zeit to you at 0.50$ each, soo you'll double your profit 

Smart move would be to spread some of that Zeit on Comkort , since it seems to sell at a lot higher rate.
Best Exchange to buy is Cryptsy and best place to sell is Comkort at the moment.

Cool things about each exchange,
Cryptsy has most volume and traders.

But for Native Language
Comkort supports English & Russian
Yobit supports English & Russian & Chinese
SouthXchange supports English & Spanish
(it has alot of growing to do , but there is zeit for sale there between 265 & 285 satochis. )
Be interesting to see it in a few months.

Funny thing is 265 or 590 sat, if you know zeitcoin is going to a $1 each , even at 5000 sat you are basically getting it for free.


 

buying it up to 590 on comkort? haha its your money but theres a lot for sale at 260 at cryptsy

Earliest Minting can happen is 20 days after block was created.
If the amount of zeit in the block is 50,000 or over will usually mint within 3 days after the 20th day.
If the amount of zeit in the block is under 1000 minting will take longer.

If you encrypted the wallet , you need to unlock it for it to mint.
If you did not update to the version 2.0.1.5 , you will have minting problems.
If you only sync up occasionally, then minting will take longer.
(The more you leave the Zeit Wallet connected the more chances it has to mint, since we are all competing for stake when in sync and online.)

Go under Coin Control and check the dates the blocks were created, if the blocks are younger than 40 days, just wait , if they still have not minted after 60 days , then you want to use coin control and merge them if your amount are below 100 per block , but 1000 per block should mint in less than 45 days at our current network difficulty level.
Coin Control Tips
https://bitcointalksearch.org/topic/m.10296134

FYI:
The more blocks that are staking the more secure our network.
If your block takes over 40 days to mint , then the block is not split in 2 , but the amount is just added to the new block created. It is the Automatic Coin / Block control feature in zeit , to help secure and balance out the network.

 

2nd FYI:
Once a block does mint say on Feb 5th, it starts the 20 day cycle over since it created a new block,
and the earliest that new block can mint will be Feb 25.

Curious.  Haven't had a Minting payout since the 5th of this month.  Anybody else having these kind of irregular payouts?

*also curious as to whether or not there is an equivalent [getstakinginfo] command in Zeitcoin so I can ensure it's minting properly?

LOL,  
After the Comic Books , Zeithawks the Movie starring a_cat_named_joe .
I will even buy the Bluray of that one.

 

BTER is back....

to be honest I haven't even noticed it. Been most of the day away to take some fresh air. It really helps to take a break from crypto some time.

No doubt. I've been enjoying some nice mintings today myself! 

For sure there is a shitload of wasted minting waiting between 288 & 300 - seems like some people just like giving away their earnings to exchange owners. Did I miss a meeting?