Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 392. (Read 1009346 times)

Until your order for 1B ZEIT that was put today, the liquidity on the bid side was vanishing and that is exactly where my concerns came from.
Just being afraid of "been there and seen it before" with, e.g., CTM.


Therefore, I would love to keep the discussion in this thread spot on:
and please excuse me for such a bold question, but what are exactly the things that the Zeitcoin community is wanting to do in the nearest future to get the things going?

There are no guarantees and there's plenty of liquidity. There are roughly 2b(7.3% of float) Zeitcoin for sale between 2 & 10 on mintpal alone and there are bids for over 1.8 billion on the same exchange. People can get in and out of positions readily.

I completely agree with you. There needs to continue to be posts in this thread that speaks about Zeit from more than a monetary standpoint. I responded here a few days ago and spoke about some of the things that the Zeitcoin community is wanting to do or have already begun planning and implementing for the coin, but, like I mentioned previously, that post quickly got buried under tons of other posts completely off topic. That is a constant problem here with many other coin's thread as well. That was the reasoning behind creating the zeit forum. Much harder to go off topic there.

I think there is no chance of new pump while all that is seen are huge walls of sale and price sunk to 1 satoshi,
and with large chanses the closure of ZEIT market by reaching the previous step to hell...

If the community does nothing (Except for long term stake), this will end very badly very soon!

Having incentive to keep your coins in your wallet does not yet guarantee the rise of the prices - you need the liquidity.
Without liquidity, even the most innovative coin features you could think of won't bring much, you simply won't get enough time to demonstrate the coin can work.  
In the end of the day, exchanges must earn their fees, if not the coin is de-listed.
So I believe it is a combination of coins features and liquidity that makes a coin successful.
ZEIT is a relatively young coin, that is right,  but it is now time to demonstrate it can have a sustainable liquidity for a longer period.
And for that  you need this proof of community strength that will create interest in the coin, I was writing about earlier.
So for me a valid question for today is, how apart from the PoS feature can ZEIT attract the liquidity?
Being just a clone of HBN, TEK, MINT (by that I mean being another PoS coin) does not increase your chance for the success, especially if you come on the market after these coins. If in the long term run there will be just a handful of altcoins (out of hundreds existing today) how ZEIT is gonna make it there?

PS. Just a food for thought, do you believe that a coin that is completely taken of of the exchanges would be able to survive in the long term?

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

Understood. PoS is not a price action insurance policy, nor is it intended as such, it's a method of securing a blockchain. People that have no intention of selling and instead store their coins in their wallet are rewarded with freshly minted coins. I fall into that group.


PoS coins are somewhat different in that there's incentive to keep your coins in your own wallet staking and keep them off exchanges where they are frequently stolen. Many PoS/PoS hybrid coins have shown tendencies toward long term price stability(hbn, tek, phs, mint). Zeitcoin is still very young, but I think it's quite likely to join that list over time.

I understand and appreciate your concern. I get the sense that you are treating this like an investment, which is good, and are expressing concern for your investment. So if you want to know what the long term plans are then I urge you to visit
forum.zeit-coin.com and see what the folks there have to say. It is unfortunate, but because this thread quickly became filled up with everything from "where's my bounty, why haven't I got my bounty?" to "this is a scam coin" to "why am I not getting payouts every second of every day from the multipool?" to having to explain how POS works on pretty much every page that it became impossible to filter through all that crap in 400+ pages of this thread to see the posts where important information was discussed.

I would love to know specifically what the long term plans are.  I'm sure everyone else would too.  Right now it seems like Zeit is being propped up by one guy here with a lot of money who is either very concerned about his investment or is pushing the price down to pick up cheap coin so he can eventually pump it up.  This guy obviously has money and I'm sure he's not going to squander it, so I'm holding for the pump.

@solarion
Just to make my point clear. I am not implying that the PoS model is making the price drop. What I am saying is that PoS model does not provide you with any kind of additional protection over non-PoS coins, if the price drops a lot due to the loss of interest. 25% more on something close to zero, is still close to zero enough to make a coin disappear and to make your investment a failure. What I am criticising here is the belief that just the feature of a coin itself (PoS model in this case) can make a coin successful in the long run (whatever we understand by the long run). Actually, it is the strength of the community itself what makes any coin successful rather than any new feature or coin model, be it a very small number of overall coins, big number of coins, minting, you name it. It is exactly in this moment in which ZEIT community must stand and prove strong enough (bring news, create interest, etc.) to keep the coin alive on the market, e.g., see beginning of DOGE for a successful example. Just blind belief in PoS won't make it survive in the long run.

PS.
There is a very good blog (in German) describing five phases of an altcoin life-cycle: Start- First Pump - First Dump - Dead Cat Bounce - De-listing.  Although it uses PoW coin as an example, I don't see why a PoS model should behave differently.


 

And what exactly is so wrong with having a coin where the community wants there to be an idea behind it? Having a coin that supports TZM was the idea of the dev from the get go. If we let go of this idea then we become just another coin in the ever increasing number of coins on the market. So if you are so against the "blah blah blah" as you so eloquently worded it, then feel free to dump your coins and move along. Maybe you are better off with the get rich quick schemes like Darkcoin or Bitcoin Plus if you are looking for instant profit. And no, before you ask, I am not holding billions of Zeit. Far from it.

In the meantime, I support the blah blah blah and will continue to do so. And if you are holding Zeit in any decent number then I will urge you to think twice about dumping them. By all means, get involved with other coins if you are looking for instant profits, but hold your Zeit for more long term than short term gains.

I am, but I have very little scrypt mining power(1.5Mh/s). This is why I've repeatedly asked the devs to include multipool options that can accommodate sha hashes...which I have lots of.

That's correct. That's why I've doubled the bid wall at 1. If you feel you "have to" sell at 1, please feel free. Those coins will also leave the exchange and go into my wallet.

I set a buy at 1 sat a long long long time ago and forgot about it (I have a few coins setup with buys like this). I didn't think I'd ever see it come close, and here we are at 2 sats.

Is anyone mining through hashcows to keep buy demand going?

You have billions of coins so of course you are always quick to debunk any negative criticism.  No one ever "has" to sell of course, but if it dips and never comes back you'll wish you did.  Oh but right, you're the guy more concerned about the "idea" behind the coin, so I guess it doesn't matter to you if the price dips and never comes back.

What's making it easy for whales to manipulate is the low price/coin. Everyone is a bargain shopper and as soon we get close to breaking free, buy support dries up and sellers come out of the woodwork.

Somebody really wants to keep the price down....
suddenly this huge sell wall at 2 satoshi

I believe someone accumulating more and more before another pump like the last one to 17...

As much as I want to believe in the future of this coin (mine are from the beginning in the wallet)
It seems that PnD whales are having fun with it, while all the us naives watch them from the side
Without gaining any profit....

It brings me to think that high % PoS coins make it easy for those whales, cause most of the holders just keep their coins in the wallets for staking...

Just a thought...

-1.

It's a silly argument that implies that the price is dropping because PoS, when the fact is the supply of new money was far far greater when the coin was still in it's hybrid PoW/PoS stage. New money supply is practically zero at this point. The exchange rate is dropping because people are fickle and have very short attention spans. If there's no whiz bang headline each day then they move on to a different coin. Crying about the price and claiming you "had to" sell at 2 is silly. Nobody is forcing you to sell your coins except you. One major supporter withdrew his support to re-allocate capital. The coin has been in an exchange rate tailspin ever since due to herd mentality.

+1

I was just saying the same thing here a couple days ago and everyone was like, "It's about the idea behind the coin, it's a movement, the money is secondary blah blah blah."  

This community continues to downplay the importance of price, and seems to think that PR and a social media presence will spontaneously happen within the community because people believe in zeitgeist.

that is exactly my point. 25% yearly interest will be eaten if the price drops from 4 to 3 sat. Now if the price drops from 4/5/6 satoshi to 1 or below, the loss is even bigger and can't be covered from minting. This is where the whole PoS idea becomes weak - things work well, if, and only if in the long term the price of the coin stays stable (or increases a bit to provide you an extra premium). As soon as the interest vanishes (community not strong enough, whatever else, you name it) and the price drops significantly, minting feature does not offer any significant protection - thus not much difference to non-PoS coins.