Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS] - page 76. (Read 1009334 times)

@cyberminer666

As far as Smart contracts or Anon goes,
In Time, We expect 3rd parties to support these roles for the users that need them.

Our Goal here is to have a fast / secure / energy efficient coin that is affordable for the world's populace,
if no one uses it for anything other than a payment system, that is their choice.
But a digital locking system , and voting system is something that Bitcoin already costs too much too be practical, but for ZEIT our affordability makes it a possibility for the right software designer.

Making False Promises about having smart contracts or saying that Onchain Transactions can be anonymous, is not something we do here.
True Anon can only be accomplished by 3rd Parties conducting transactions offchain, as such onchain anon is merely an illusion to fool investors.

ZEIT is open and honest, we are a fast / secure / energy efficient coin.
If you need more than that , good luck in your search.  


FYI:
Retail Transactions:
Even thru ZEIT is blazingly fast compared to most coins.
No coin's onchain network meets the speed requirement of being almost instant.
However 3rd parties such as Cryptopia & NovaExchange have an Offchain service where you can immediately transfer coins offchain to another user and let you redeem them later onchain.
And due to their almost instant nature of offchain transactions, is more than fast enough and more than affordable enough for a simple coffee purchase.
ZEIT is on both of those exchanges.  

 

hey
smart contracts was an example for other coin features.
the statement was : is zeitcoin for payment just like bitcoin ?
i think the answer is still : yes 
yes, but didn't bitcoin started the same way and even now is not legal in most countries ?
again yes same problem like bitcoin acceptance only on a higher level.
wouldn't bet it would work worldwide, but thats part of the experiment

yes, for ethereum. no for i.e. lisk with offside chains
maybe u are right, but i thought the same some years ago and failed
without try nobody will know

greets

I want have low coins, but these coins always will be increase price

My first stake was after 36 hours

The ULI countdown timer needs to be removed from the website, or, the wording needs to be changed to "Time since ULI Activation" instead of countdown.

In the Future,  

Current plans are to wait and let the ULI do it's job of stabilizing the price per coin.
ULI only activated less than 4 days ago.  


 

FYI:  
Inflation before the ULI was like per day
2017-08-10 Thu   2915   3830463    1,078,904 new coins
2017-08-09 Wed   2934   3827548   16,563,021  new coins

Now after the ULI activated
2017-08-13 Sun   1887   3838217   754 new coins
2017-08-12 Sat   2959   3836330   130 new coins
2017-08-11 Fri    2911    3833374   155 new coins


FYI2:
Website was online.

zeitcoins website is down, can annyone check it?
up up up zeitcoins 

Hello everybody. When do we expect the coin to grow? What are your plans for the near future coins

The leaf only turns green , when your wallet is locked to let you know you have coins ready to stake, so you know to unlock it. Ready to stake does not guarantee it will stake immediately as it is competing with other network blocks for the right to stake.

When the wallet is unlocked and minting it stays grey even if you are staking blocks.


 

Okay thanks as this will save time combining blocks like I need to do with other staking coins as most don't have stake threshold feature. Looking forward to earning my first stake with the new ULI wallet and still my leaf icon says no blocks for mining but its been over 24 hours now since I combined my coins into 1 block and it was after the ULI. Is the leaf icon meant to change colour when it is mining? 

All Blocks created after ULI activated, No longer split.
Additional amounts just add to the 1 original block. 


 

Thanks for the reply and tip on how to get my Zeit to start staking in 24 hours. So I have combined all my Zeit coins into 1 large block as you say that its most likely best to have blocks of 1 million coins so that's what I have done. Does Zeit have the stake threshold feature? Saves always combining blocks to 1 million each time they stake or do they just remain in 1 million blocks when they stake and not split into 2 blocks?

Hmm,
These are my personal opinions , others may differ.
Onchain Smart Contracts will fail because of these issues.
1.  Have exactly ZERO Legal Status in any Country in the world.
2.  Do not all allow for 3rd Parties to overturn contracts or rewrite contracts on the basis of their individual laws.
Example: Not all Contracts are Valid in all countries or even permitted . Smart Contracts ignore this and hope for a 1 size fits the world contract system, which is why it will fail.
3.  The Excessive and overly complicated code causes an incredible increase in block size on a monthly basis.
(Their blocksize increases per month is more than ZEIT for a year.)
(The First Small Court that rules a person was underage or under duress or just mentally unable will require a hard fork to correct their so called smart contract.)

The way we see the True Future of Smart Contracts is this.
Special Exchanges will pop up and you will store some of your coins with them.
They will provide verifications that the parties are able to accept legally binding contracts and act as 3rd parties to enforce movement of coins to the different parties. A Specific Time period of 30 or 90 days would be included where they hold the funds , where a party that felt slighted could request a government approved court system evaluate their contract. As such the exchange would hold the funds and return it to the designated parties as so ruled by the designated government court system.

Thinking a blockchain can be a smart contract and replace the world's entire legal system is fool hardy,
For such a thing to truly exits, the entire world governments have to turn over contract sovereignty to a individual designing said blockchain, giving up their rights to dispute forever. I believe we will all see hell freeze over before that happens.  
 

Optimal Block size,
ie: least amount of coins needed per block to stake on a daily basis, so the user can stake more blocks per day.
As the users change their number of coins per block over the next month or so,
this optimal number will be in flux until most have updated their coin blocks.

 

I think now zeit falls into the top of "Biggest Gainers" chart 

but the simpler answer is : yes 
there is no conceptual difference between bitcoin and zeitcoin other than the consensus algo (POS)
ie. no smart contracts

proof me wrong pls



thx, nice tip how do you calculate the optimal block size ?

greets
cyber
 

Thank you it works now. Had to download the snapshot and do a reinstall

Well, now we are waiting for 100 satoshi at least! ;-)

Corrupt txleveldb directory

Delete the folder ‘txleveldb’ in your zeitcoin directory
normally  c:\users\YourUsername\AppData\Roaming\Zeitcoin

Then Restart the ZEIT Wallet,

Hopefully that fixes it.

if not then:
download the snapshot and do an active wallet install
https://www.cryptopia.co.nz/Forum/Thread/1336?postId=7831



Only blocks created after aug 11 at 12 GMT can stake after 24 hours from their creation date.
Any blocks created before aug 11 at 12 GMT are still at the minimum 20 days before they can stake,

So what you can do is any blocks that have staked between Aug 1st & Aug 11th ,
is use coin control and merge them together to create new blocks, so they can now stake in the 24 hour range.
Optimal block size for fast staking used to be 50 thousands coins per blocks, with the new ULI ,
That number will move up to somewhere closer to 1 million coins per block or higher.
It will be a few weeks before I have an accurate number for the new optimal block size for fast staking.


 

I have a question in regards to the ULI wallet. As I have just opened it a while ago now and am synced with the network. I unlocked it for minting however do I now need to wait 24 hours before it starts minting? because the leaf icon is grey and says I don't have mature blocks yet.

http://imgur.com/a/YCwBB

Why am i getting this Error now, if i want to start the wallet?