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@bunnypet,
Let's clear some stuff up for you as you are confused.
1. This is a Community Coin.
Meaning anything that gets done, gets done by a community member donating their time or donating their own money to make it happen.
2. This is not an ICO coin, all community members either mined or staked or purchased all of the coins they own.
None of us here got a free ride.
There is no massive influx of fiat, by investing speculators that is sitting as a magic purse for you to request to be spent.
Everything is either individually or crowd funded. And if the Crowd don't want it , they don't fund it.
So just because you want the ZEIT Community to throw their personal resources at increased marketing ,
does not mean they will , you can ask them and see.
3. If you want something done , You need to be willing to put forth the energy / effort /money to get it done or ask others to join in making it happen.
You come in here complaining like someone here owes you ,
No one here owes you anything , Zeitcoin is a virtual resource , you hold it , stake it, sell it, buy it , or barter it,
coming in here to complain about its price because you have failed to make a profit by your own failures on how to trade is your problem , not ours.
Anyone can see looking at coinmarketcap , there was profit potential to be made that exceeded 122X ,
if you missed every previous opportunity that is no one fault except yours for not having a clear strategy on when you wanted to take a profit.
People should invest in ZEIT , because they have a clear understanding of what this coin is and what it can achieve,
if you are unable to grasp it's future, then by all means sell your coins and find a coin you believe in.
(Don't let the door hit you where the Good Lord Split you.)
If you want to do work to help ZEITCOIN achieve its goal at a faster pace ,
then join the slack forum or the Telegram forum and be willing to donate time or money to help support ZEITCOIN.
But Naysaying and insulting the coin in here when profit potential has been staring you in the face for months and you ignored it , again your problem.
We are all Volunteers helping ZEITCOIN, if you don't want to volunteer, feel free to sell and move on.
But complaining to Volunteers that work to support this coin on a daily basis thru providing support to these forums,
by holding to stabilize the price , or buying to further their investment potential really falls on deaf ears.
So be a grown up and make your own investment decisions and take responsibility for those decisions like a man.
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Trolling posts will be deleted.
A coin with no improvement in its price. It's as good as dead. It would be better to buy DCN that works hard and has a clear future.  This coin is dead. Your Brain is Dead! Are you really such a little crybaby bitch?Sell your coins and fuck off, if you don't like the coin. No one cares if you are too stupid to make a profit, many others have made a profit, but they were trading not trolling. We were 122X our value , if your dumbass wanted out that was the time to do it! Price has grown verses the US $.Sept 2014, 1 zeitcoin = $.000001 May 2018, 1 zeitcoin = $.000122 So in comparison to the US $, (which to be honest, does anyone really care about anything else, because people cash out to fiat not bitcoin) Zeitcoin's Price has increased 122X verses the US $, it has been an outstanding investment.  * If someone brought at the lows and sold at the highs, their rate of return was much higher than 122X. *FYI: During the exact same time period Bitcoin only increased 18.86X verses the US $ and ZEITCOIN increased 122X verses the US $. ZEITCOIN OUTPERFORMED BITCOIN by a factor of over 6X.* Here is a little brain teaser for you , if ZEITCOIN increases at the same speed as the last time period. * 1 zeitcoin = $0.014884 in May 2022 (That is ~1½ US penny) 1 zeitcoin = $1.815848 in May 2026 (~ $2 dollars) 1 zeitcoin = $221.5334 in May 2030 (over $200 dollars) If you act like a fucking moron, I am going to call you one. Was your Father also your Uncle and your Mother also your Aunt , cause that would explain why you are such a dumbass.If you have not made over 100X your investment with this coin, it is your own fault. |
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LN Hubs will be required at the least to report as a money transmitter at worst as a banking institution.
The expenses for these will make it so very few actually run a hub once enforcement of the AML/KYC regulations begin.
What "LN hubs"? We have Bitcoin wallet services like blockchain.info that do not require their users to verify their identities. Plus what if I run a Lightning node and many users happen to connect to me? "I will not enforce AML/KYC" will be my LN node name. Hahaha. LOL, You don't read much about the US Laws , do you?Be sure to post what prison, they send you too and I will mail you a cake with a file in it.  And no it won't matter if you are not a US Citizen, if the US Gov can force the Swiss banks to comply, your resistance will be meager at best. Good Luck with that LN hub.  FYI: When you ask your Cell Mate's Name and he says Ben Over, that is not his name!  |
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You might be missing the point just a little bit. Sure, the network will readily cope with the occasional large block, mostly because all the others are so proportionately tiny. But if they were to produce the maximum size block every single block, that's where you might find some issues creeping in. That's when some of the people trying to run full nodes will suddenly decide that's no longer an option. That's when the claims that BCH is centralised start to gain a bit of credibility. For the record, I don't think BCH is centralised, just that it has a greater potential to move in that direction.
It looks like you are going to just have to live with the fact the developers writing Bitcoin Cash Code are smarter than you about what their network can or can't handle. Like I said earlier , feel free to spam their network and try and prove them wrong.
spam is all about incentive. without it, the spam won't happen but that doesn't mean it is not a concern for others as well. take 51% attack for example. there are shitcoins out there with such as low hashrate that you can attack then with a tiny altcoin mining rig and wipe out their blocks. but the price of these shticoins is so low that it doesn't give you the incentive to do it. you'll get less than 1 satoshi per coin for many of them!!! this doesn't mean these coins are protected against 51% attack it just means nobody cares enough to attack them.
same goes with spam, nobody gains anything by spamming a shitcoin with empty blocks. but many will benefit from spamming bitcoin even if the blocks were empty. from miners who earn a shitload of money to altcoins who pump their shitcoin because bitcoin fees go up. you seem to have forgotten that in 2017 when Dash was starting to pump with the motto "Dash will replace bitcoin" they were raising money on their forum to spam attack bitcoin with it. nobody ever says "Dash will replace bitcoin cash"!
You really need to read up on other coins. Many other coins do not allow variable transaction fees. (That is the crux of the problem.)Your Bitcoin Core coin variable fees and limited onchain block space is what allowed the months of spamming that raised transaction fees up to ~$40 last year. Many Peercoin based Proof of Stake coins delete all transaction fees, completely removing spamming as an incentive. Also any coin that has a fixed transaction fee negates any reason to spam for the profit of increasing the fee structure. Proof of Stake coins with these features are totally resistant to pathetic spam attacks. Aside from the above, Bitcoin Cash solution was to have a large enough capacity that spam attack just wasted an attacker's funds, which works as only once was a spam attack even attempted. By having plenty of onchain capacity , they negated any reason for someone to try a spam attack. Feel Free to run your own spam attack on any proof of stake coin or bitcoin cash, their design will enlighten you as you EPIC FAIL in the attempt. FYI: LN will allow Variable Fees , it will be interesting to see if someone figures out a way to use DDOS attacks or something else as a way to jack up their variable fee structure.  |
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According to the idiots pooya87 follows such as Blockstream , 8 MB blocks was impossible and Bitcoin Cash proved blockstream all to be fools.
You haven't proved anything until you can fill an 8mb block and sustain that throughput. BCH only twice managed to exceed a paltry 200 KB worth of transactions in a single block within the last 48 hours. You. Are. Not. Producing. 8. MB. Blocks. And you definitely aren't producing 32 MB blocks, which I understand is the new cap. You're producing an average of ~50 or 60 KB blocks with a maximum threshold you've not come close to reaching.
Again your problem not theirs.
https://news.bitcoin.com/bitcoin-cash-8mb-block-479469-clears-over-37000-transactions/On August 16 at approximately 8 am EDT the mining pool Bitclub Network mined an 8MB block on the Bitcoin Cash (BCH) blockchain.
Block #479469 cleared over 37,000 transactions from the mempool making it the largest block found so far on the BCH chain.
Meanwhile, the BCH network continues to capture infrastructure development and industry support.
They only produce blocks large enough to hold the transactions , they don't produce the maximum size blocks every single block.
That was the single attempt by some bitcoin core/segwit supporters to spam the Bitcoin Cash Network and they had an EPIC FAIL.
Wiped out their pitiful spam attack in 1 block.
@DooMAD , put your money where your mouth is,
if you believe you can spam fill the bitcoin cash network blocks and crash it , GO AHEAD!
But I think you're just full of hot air. FYI: Almost every ALTCOIN can exceed the ONCHAIN transaction Capacity of Bitcoin Core right now. The Fact is Blockstream Lied and many non-thinking people believed them, that offchain was required to scale. Crypto coins are nowhere near the point where Offchain scaling was the only option left. |
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MIT researcher Thaddeus Driya, co-author of Lightning Network whitepaper and former technical Director of Lightning Labs, believes that the network will avoid corporate centralization in General because of its design, which does not require expensive and does not require specialized equipment  Co-Author of Lightning Network, kind of a conflict of interest , don't you think for an impartial opinion. LN Hubs will be required at the least to report as a money transmitter at worst as a banking institution. The expenses for these will make it so very few actually run a hub once enforcement of the AML/KYC regulations begin. The LN hubs fees are also variable , it is funny no one thinks that their fees price can't also skyrocket. LN Hubs require constant internet access to avoid funds being stolen, a simple ddos attack at the right time could allow LN funds to be stolen. There is talk of a WatchTower system to help prevent that, but it is also going to charge additional fees if it ever gets working well. |
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~
Quite interesting observation, mate. I've always thought that increasing the block size would make the chain bigger than ever as blocks will get automatically filled to 32mb. But, now I understand that even if block size is increased, blocks won't necessarily fill up to 32mb. Considering your research, it seems that a 32mb block size is still safe to use within a cryptocurrency. It will all depend on how technology improves overtime, and prices become reduced to a level where people could afford new technologies to maintain their full nodes. With Moore's law, this will surely happen so it shouldn't be much of an issue increasing a block size to a greater amount in the future. I believe that it’s best to implement a dynamic block size system to Bitcoin Cash instead of a fixed size block size like 32mb. That way, the network could adapt to a specific block size depending on the load of transactions, among other factors. Bitcoin Unlimited had such feature, so it could be easily implemented into Bitcoin Cash in the future. Just my opinion first of all if you don't use the space then creating it is pointless. it is like buying an airplane to go to your job which is 1 block away from your house! secondly when you open up space (32MB) you are making spam attacks easy. it doesn't cost anything to fill these 32 MB blocks and cause havoc. thirdly you are not just a leach, as a contributing node you want to connect to different nodes and send/receive blocks and transactions. this means downloading and uploading. your monthly traffic is going to be ridiculously huge. check out Shorena's node status here, you will see very interesting stats. he is already spending 1-2 TB traffic per month. finally it has never been just about the size. the problem is Zin-Zang doesn't understand anything about bitcoin. you are not downloading a file. you are downloading a block. which means you download the blocks, verify each transaction and then add it to your blockchain. that verification is the bottleneck.
otherwise he would realize that a larger block means than IT COSTS MORE TO TRY AND FILL IT WITH SPAM TRANSACTIONS.
* How many times has someone tried to spam bitcoin cash since it moved to 8 MB, *
* It happen once and One 8MB block wiped out the whole spam attack at great expense to the attacker and the next block was again using less than 1 mb.*
* Bitcoin Cash Developers have ran tests verifying their network can support 32 MB blocks when needed (It may be 15 years or more before they fill it on a regular basis) , whether pooya87 can accept that is his problem. *According to the idiots pooya87 follows such as Blockstream , 8 MB blocks was impossible and Bitcoin Cash proved blockstream all to be fools. Problem is Blockstream had an agenda to get LN activated, as that is what the bankers paid them to do. People like pooya87 that see bitcoin as a religion instead of a technology are stupid enough to believe the nonsense , blockstream puts out. |
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POS which means proof of stake is a system but has some limitation. It cannot prevent the problem of spamming. That’s why there is a need and demand of POW which means proof of work. This protects the computer from the unwanted messages by the hackers. So I think investing in the POW that means proof of work network based token will be good.
Hmm, All Proof of Stake coins based on peercoin design, prevents transactions spamming by destroying the transaction fees. Also most of those coins are fixed rate fees not variable rate fees like many of the PoW coins, so there is literally no financial incentive to spam a proof of stake network like there is to spam a PoW network where the spamming increases the PoW fees. PoW is a failed design that leads to an ever increasing input costs to keep the network running, which also means ever increasing fees. PoW is a evolutionary dead end, no real point to it. Proof of Stake is the only reliable & cost efficient & energy efficient way to run a global network. Personal Preference for Proof of Stake Coin is ZEIT , it is energy efficient, Decentralized, and Ultra Low Inflation. It is a coin for the long run as it can maintain and grow it's value per coin over time. Thanks for answers)
It turns out better to buy young POS coins to make money on it. Which one would you recommend? I was looking for a branch of a young POS coins on the forum, but I did not find it. Can someone create?
It sound like you are more interested in short term coins, for that just monitor the New Altcoin Announcements here: https://bitcointalk.org/index.php?board=159.0The only play with other PoS coins with high inflation rates, is try to get in early , make a bunch of free coins with their insanely high interest and then cash out before their price drops or the difficulty gets so high you can't stake anymore. Sprouts and 808 are prime examples of this , but are already dropping too much in price to be worth it, which is why you never expect a high inflation coin to be worth anything after 3 or 4 months. None of these are long term holds as their price will always drop from year to year except for the random pump and dump. Get in and get out before the prices collapse with high inflation coins. |
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And what energy for Fiat currency requires more than a digital currency. If you think about how many forests are cut down for paper production, etc.
I don't know about you , but I went paperless over 10 years ago. Get all of your account info online and tell the company to no longer send paper statements. Plenty of software apps can act as digital file cabinets for your records. If Bitcoin energy usage was growing at a sustainable rate of even as high as 10%, the world could most likely meet that demand for years. Problem is Bitcoin energy usage is growing exponentially and it will outpace the world's ability to produce it in a few years. (Conventional or Alternative)* That means either bitcoin uses so much electricity it raises the price for everyone.* * Also the world will eventually just ban new mining operations (as China is already doing), which will centralize control of bitcoin mining to only the elite few with the political connections to keep the power connected at the expense of the surrounding people and environment. * At that point Bitcoin becomes no better than centralized banking. Politician says block any new transactions from these address and the bitcoin miners comply or their power get cut off. Decentralization is a major factor in a service staying out of government control , this insane energy waste centralizes bitcoin mining even more and gives Governments the leverage they need to control the bitcoin miners and which transactions are processed. Somewhere out there Satoshi is shedding a tear for the corruption of his dream. |
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seems the articles 'expert' in zing zangs link cant grasp simple maths the expert does a very weird way of working out his estimate. (facepalm) The most frequently cited figures come from Alex de Vries, who runs the Bitcoin Energy Consumption Index on his blog, Digiconomist. De Vries does something of a reverse calculation to guess how much energy the network uses each day: he assumes that bitcoin miners spend 60 percent of their revenues on electricity, then guesses how much they pay per kilowatt-hour to calculate their energy consumption.
. but here is a more straight forward way if you take the ~35exa hash this week for the network thats 2,500,000 s9 miners running all the time on average at 1.3kw/h per asic=3,250,000kw/h for the network 3,250,000kw/h (3250mw/h 3.25gw/h 0.00325tw/h) =28.47tw/year no guess. no estimate. just plain math Hmm, Your math is missing, energy usage from Lighting, (silly humans don't work well in the dark)? energy usage from network routers & Internet connections & security cameras? energy usage from any full nodes running in their operations? energy usage from Cooling those asics? (Depending on Geo-location temperatures.) (Asics got heating covered, so that is no issue.) |
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Some say that the Lightning Network is centralized, but from my point of view, it's still a decentralized solution to scale Bitcoin as anyone would be able to run a Lightning node at will. The huge advantages that it provides for Bitcoin such as dirt-cheap fees, and instant transactions would be too hard to ignore to implement in the future. However, if the Lightning Network turns out to become a centralized solution for Bitcoin (like many claims it will), then it would be doomed as only those with a lot of wealth and power would be able to participate in this ecosystem. What are your thoughts about this? Is Lightning really centralized? Or Decentralized? Lightning Network will be centralized. Whether or not that dooms it has yet to be seem , but it will be no different than a Centralized Banking System. As far a LN fees being cheap, it has not even begun to be used, so the promise of cheap fees may be exaggerated and proved to be false as usage increases. LN is also a variable fee structure as such as it use increases so too will their fees. Bitcoin core transaction fees were cheap , but they increased in time , odds are so will LN's fees. |
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When do you think Bitcoin will go back to the $20,000 mark and what factors do you think could contribute to making it happen sooner rather than later?
If we measure from the price peaks , ~Nov 2013 to ~Dec 2017 So we are looking at 3½ to 4 years before the next Bull run. Price should drop to ~$3777 and languish there for 3 years. |
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With the recent price drops,
Does anyone here know what the price is per coin that PoW mining is no longer profitable for
Bitcoin Cash ?
&
Bitcoin Core ?
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of course, we all see that all markets are red and there are some fears of getting down more and more in the following days. but on the other hand, no one can ignore that bitcoin is the leader of all the crypto market, so if it down the whole market will go down as well, so it is too hard to believe that it will die that easy
and the major investors of it will not allow this to happen.
what do you think, am I right?
Bitcoin and the other alts are down because they have too little buy orders to offset their inflation. ZEITCOIN is actually either up or stable with it's price for the past 5 months, difference is Ultra Low Inflation. https://coinmarketcap.com/currencies/zeitcoin/ |
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If it happens, the confidence and price of the coin will collapse. People holding the largest amount will suffer the most. Therefore it wont happen.
Your logic only holds true as long as the Miners are the ones holding the largest amounts as they are the ones that can 51% attack bitcoin. A collusion of just Chinese miners has had more than 51% combined for over 2 years now.If the Miners decide another coin benefits them more than bitcoin, then they could potentially dump bitcoin and then 51% attack it to destroy it and point to their other coin as the #1 coin gain profit as the non-miners jump to follow their lead. Things the Miners can do and no one can stop them. 1. Miners could collude to raise the transaction fees to insane rates , users have no options but accept or let their coins sit frozen. 2. Miners could just refuse to add new transactions to blocks , and users are powerless to stop them. 3. All the Miners could just mine another coin and let bitcoin freeze up in a death spiral. People just holding bitcoin and are not miners are really just minions of the miners , as the miners are the ones with all of the power in a Proof of Work coin as Bitcoin. |
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It would be great to have Insight Api for ZEIT and then use it to create web wallet or electron desktop wallet. Is it possible to implement it in current codebase?
Unknown, we don't have an active programmer at the present time to answer questions on the code base. However we were on Cointopay in the past. https://www.cointopay.com/Your advantages with Cointopay in a nutshell:
Fully functional web wallet
So you may want to check them out, if you want to build a web wallet. |
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Wallets the same since they were updated for the ULI back in 2017.  |
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Jim Chanos is absolutely right , bitcoin is not and never has been a true storage of value.
There's like 0.0000000000000001% chance that Apocalypse will happen, so the rest 99.9999999999999999% of a time Bitcoin is store of value, and in many things it's better than gold. You can store billions of dollars worth of coins in your mind by memorizing your mnemonic seed, or hide it inside a book or something. It's impossible to transfer same amounts of wealth in gold or cash across the border privately. Bitcoin is also way cheaper for transferring wealth from person to person across the globe, even when fees are high, it's still worth it to pay $50 to send millions to any country in the world, and in just 10-20 minutes. Wire transfers or gold can't do that. When done correctly, Bitcoin can be theftproof, there are ways to very effectively hide your private keys so no one will able to get them without your permission. Gold and cash be stolen from a safe, can be seized by the government from your bank, etc. OK , Another coin replaces bitcoin Bitcoin Network becomes too expensive to maintain Bitcoin Mining is outlawed due to excessive energy waste. (Already happening in China and some parts of the US.)
None of the above need an apocalypse to happen. So again store of value is nonsense. Bitcoin is a tech product , nothing more , nothing less. (Other coins are much cheaper and faster to use to send money.)Can you make money off of the bitcoin speculation sure, odds are you can also lose money on the bitcoin speculation. * Everyone that brought in above $8000 is still in the hole. *I know people that can use a wrench and get your private key from you , also how long will you stay in a government jail cell and not give up your private key.  If Bitcoin was as really as secure as you think, we would not have all of these auctions of confiscated bitcoins from criminals. https://www.forbes.com/sites/rogeraitken/2018/01/12/u-s-marshals-to-hold-bitcoin-auction-for-50-million-worth-of-cryptocurrency/ |
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According to Cointelegraph: Steve Wozniak: Bitcoin Is ‘The Only Digital Gold’“Only Bitcoin is pure digital gold… and I totally buy into that. All the others tend to give up some of the aspects of Bitcoin.
For example, being totally decentralized and having no central control. That's the first one they have to give up to try to have a business model.”No offense to Steve, Centralized control means the centralized Authority can censor or confiscate at their discretion. https://www.investopedia.com/news/steve-wozniak-has-sold-his-bitcoin/Steve Wozniak Sold All His Bitcoin That is not the actions of a man that truly believes in Bitcoin as a Store of Value. That is the actions of a man cashing out because he made a profit and thinks it has reached it max. If a Centralized Payment model is what he is looking for, maybe someone should email Steve a link to Paypal.com http://www.paypalwarning.com/paypal-stole-money/Centralized Control gets you this: https://www.aclu.org/issues/criminal-law-reform/reforming-police-practices/asset-forfeiture-abusePolice abuse of civil asset forfeiture laws has shaken our nation’s conscience.
Civil forfeiture allows police to seize — and then keep or sell — any property they allege is involved in a crime.
Owners need not ever be arrested or convicted of a crime for their cash, cars, or even real estate to be taken away permanently by the government.
Forfeiture was originally presented as a way to cripple large-scale criminal enterprises by diverting their resources.
But today, aided by deeply flawed federal and state laws, many police departments use forfeiture to benefit their bottom lines, making seizures motivated by profit rather than crime-fighting.
For people whose property has been seized through civil asset forfeiture, legally regaining such property is notoriously difficult and expensive, with costs sometimes exceeding the value of the property.
With the total value of property seized increasing every year, calls for reform are growing louder, and CLRP is at the forefront of organizations seeking to rein in the practice |
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