[ANN] ZenithCoin (ZTC) Market Making Sustainable Crypto Currency

[MaGNeT]

Yes, the coin is working correctly.   We had corrected the networking issues that we had previously.

The current roadmap for the coin is published here: http://www.zenithcoin.com/?page_id=8

If you miners had not made modifications on the source code,  we would have been inclined to perform a staggered launch.

Anyway, water under the bridge.

Thanks for testing!

We will make official announcement for launch date and time soon.

Expect it to be over the weekend.

You have 2 options:

- stay at this release / chain and be a part of ZenithCoin
- release another coin, you are out

You can repeat "thanks for testing" but the only one who will be testing is you, if you try fly solo on this

[solracx]

Yes, the coin is working correctly.   We had corrected the networking issues that we had previously.

The current roadmap for the coin is published here: http://www.zenithcoin.com/?page_id=8

If you miners had not made modifications on the source code,  we would have been inclined to perform a staggered launch.

Anyway, water under the bridge.

Thanks for testing!

We will make official announcement for launch date and time soon.

Expect it to be over the weekend.

You have 2 options:

- stay at this release / chain and be a part of ZenithCoin
- release another coin, you are out

You can repeat "thanks for testing" but the only one who will be testing is you, if you try fly solo on this

You don't get it do you?   You aren't in any position to dictate terms here.   If you want to create another alt-coin with the test coins you mined, then go ahead.   
   
if you can't wait for the official mining to start, spend your time mining other coins.

[MaGNeT]

Yes, the coin is working correctly.   We had corrected the networking issues that we had previously.

The current roadmap for the coin is published here: http://www.zenithcoin.com/?page_id=8

If you miners had not made modifications on the source code,  we would have been inclined to perform a staggered launch.

Anyway, water under the bridge.

Thanks for testing!

We will make official announcement for launch date and time soon.

Expect it to be over the weekend.

You have 2 options:

- stay at this release / chain and be a part of ZenithCoin
- release another coin, you are out

You can repeat "thanks for testing" but the only one who will be testing is you, if you try fly solo on this

You don't get it do you?   You aren't in any position to dictate terms here.   If you want to create another alt-coin with the test coins you mined, then go ahead.   
   
if you can't wait for the official mining to start, spend your time mining other coins.

We will see...

[MaGNeT]

How does the majority feel about this?

- restart
- keep it going

?

If there is a large majority for a restart, I won't block it anymore.

But I still have to warn you for the "features" of this coin.
Chargeback = paypal coin.
And 50% to developer = scam.

[solracx]

How does the majority feel about this?

- restart
- keep it going

?

If there is a large majority for a restart, I won't block it anymore.

But I still have to warn you for the "features" of this coin.
Chargeback = paypal coin.
And 50% to developer = scam.

Just to clarify,  it is not going to be exactly the same a credit card chargeback.  Rather, it will be something along the lines that if a wallet is stolen, then an owner has 24 hours to retrieve back the stolen contents.

www.zenithcoin.com FAQ explains the nature of this coin.   It is similar to devcoin and freicoin, but with a bigger percentage going back to miners.   

 

[MaGNeT]

How does the majority feel about this?

- restart
- keep it going

?

If there is a large majority for a restart, I won't block it anymore.

But I still have to warn you for the "features" of this coin.
Chargeback = paypal coin.
And 50% to developer = scam.

Just to clarify,  it is not going to be exactly the same a credit card chargeback.  Rather, it will be something along the lines that if a wallet is stolen, then an owner has 24 hours to retrieve back the stolen contents.

www.zenithcoin.com FAQ explains the nature of this coin.   It is similar to devcoin and freicoin, but with a bigger percentage going back to miners.  
  

But how do you prove a wallet is stolen? I can claim my wallet is stolen and have my coins back too?... I think back-ups and security are your own responsibility.

[solracx]

How does the majority feel about this?

- restart
- keep it going

?

If there is a large majority for a restart, I won't block it anymore.

But I still have to warn you for the "features" of this coin.
Chargeback = paypal coin.
And 50% to developer = scam.

Just to clarify,  it is not going to be exactly the same a credit card chargeback.  Rather, it will be something along the lines that if a wallet is stolen, then an owner has 24 hours to retrieve back the stolen contents.

www.zenithcoin.com FAQ explains the nature of this coin.   It is similar to devcoin and freicoin, but with a bigger percentage going back to miners.  
  

But how do you prove a wallet is stolen? I can claim my wallet is stolen and have my coins back too?... I think back-ups and security are your own responsibility.

A second confirmation is required for funds to transfer before a time t.  Time t is calculated as a function of the size of the transaction.   So for example, if someone took 1m coins without your consent, you may have 24 hours to clawback the transaction.   If someone took .5, you may have 5 minutes to claw back the transaction.

[solracx]

How does the majority feel about this?

- restart
- keep it going

?

If there is a large majority for a restart, I won't block it anymore.

But I still have to warn you for the "features" of this coin.
Chargeback = paypal coin.
And 50% to developer = scam.

You and your buddy eagleEye are squatting on our zenithcoin channel with a completely incompatible daemon.  

The official daemons compiled from source will not accept your blocks.  They are worthless from the point of view of the official binaries and distribution.  

All you guys are doing is simply equivalent to a DDoS and preventing the zenithcoin network from testing.  

Please stop wasting our time by jamming our network!

[TheSwede75]

I love these threads. Op makes copy-paste coin and releases source and genesis block. Someone compiles windows client and starts mining. Op throws tantrum and calls them scammers and counters by changing network parameters and compiling new genesis block.

WTF you released an open source coin dude! How is someone else compiling windows qt (that you were incapable of) scamming? What a damn facepalm this entire sub forum is..

    

[solracx]

I love these threads. Op makes copy-paste coin and releases source and genesis block. Someone compiles windows client and starts mining. Op throws tantrum and calls them scammers and counters by changing network parameters and compiling new genesis block.

WTF you released an open source coin dude! How is someone else compiling windows qt (that you were incapable of) scamming? What a damn facepalm this entire sub forum is..

    

these folks modified the source code to a completely incompatible chain.   

the official code is not accepting the incompatible chain.

now he is sitting on the irc channel refusing to get out.  the fix of course is easy,  but these folks are just wasting people's time by playing these games.

the reason why I call them scammers is that they tried to pass off the modified version as the real thing and tried to sell counterfeit ZTC.   

[MaGNeT]

the reason why I call them scammers is that they tried to pass off the modified version as the real thing and tried to sell counterfeit ZTC.   

"They"?

I never tried to sell or sold a ZTC, I have 534 blocks and 10 from the giveaway.

You are trying to launch a coin with a 50% pre-mine and call it "corporate equity". Miners call it a "corporate scam".

I'm trying to warn people against this, untill you change that.

[solracx]

the reason why I call them scammers is that they tried to pass off the modified version as the real thing and tried to sell counterfeit ZTC.   

"They"?

I never tried to sell or sold a ZTC, I have 534 blocks and 10 from the giveaway.

You are trying to launch a coin with a 50% pre-mine and call it "corporate equity". Miners call it a "corporate scam".

I'm trying to warn people against this, untill you change that.

Eagleeye has a thread in bitcointalk where he is trying to pawn off these counterfeit ZTC.   He even has a giveaway thread.

The coin does not have a 50% pre-mine,  that is like equivalent in saying devcoin has a 90% pre-mine and freicoin has a 80% pre-mine.   Use proper terminology.

This 50% subsidy is spelled out explicitly on www.zenithcoin.com.    If miners do not like the terms, then they should not bother to mine.  That is pretty clear.

The coin is designed to have conservative parameters,  2.5 minute confirms (not 15 seconds that creates too many orphans and has network issues),  24 coins per block (not 200 that overly dilutes the coin),  9 block retarget (no issues like FTC and CNC), 42 million coins (not 800 million), no instamine (not 1.6 million coins in 2 hours).

The proposition is simple,  accept a 50% share in profits for a better maintained coin.  Otherwise, you cain go invest in FTC, CNC and the like that have absolutely no future.

[emerefer]

Why will anyone trust you with 50% of the coins, given the incompetence you have all ready shown?

[Petr1fied]

I know I wouldn't waste my time and electricity mining a coin that intends to give 21 million coins to the developer for nothing aside from changing a few variables in a litecoin fork. A 50% premium to the developer is nothing but greed.

[mr_random]

I know I wouldn't waste my time and electricity mining a coin that intends to give 21 million coins to the developer for nothing aside from changing a few variables in a litecoin fork. A 50% premium to the developer is nothing but greed.

Lol. Up until a couple of weeks ago Solacx was heavily against alt currency clones, and was bashing all the new releases in the btc-e trollbox. That all changed when he had a 'brainwave' and thought he could get rich by cloning Freicoin and awarding himself half the coins.

[solracx]

I know I wouldn't waste my time and electricity mining a coin that intends to give 21 million coins to the developer for nothing aside from changing a few variables in a litecoin fork. A 50% premium to the developer is nothing but greed.

Lol. Up until a couple of weeks ago Solacx was heavily against alt currency clones, and was bashing all the new releases in the btc-e trollbox. That all changed when he had a 'brainwave' and thought he could get rich by cloning Freicoin and awarding himself half the coins.

Only a few of the alt-coin makes any sense from a financial perspective.

Where's the stewardship of other alt-coins?  See this article on pump and dump coins: http://www.legitcoinage.com/?p=27

I like Freicoin, there is stewardship there.   This, is a variation of Freicoin,  no demurrage, scrypt based, number of coins twice that of Bitcoin and confirmation speed like Litecoin.

What's not to like?

[Petr1fied]

What's not to like?

• The 50% premium paid to the developer
• Chargebacks.

[richgene]

What's not to like?

• The 50% premium paid to the developer
• Chargebacks.

^^^^^^^ THIS!

People MIGHT( and I stress the MIGHT) be okay with paying a dividend if there was an open, transparent vibe about it. All you've said is "it's a good thing, why not?".

If you had a way to show where the money was going, have it be completely visible about when money comes and goes, had a plan how said money would actually help the coin grow long term, then MAAAAYYYYBBEEEE people would be okay with it.

The way things look, nothing close to innovation has been accomplished here.


And Chargebacks, WTF were you smoking when that sounded like a good idea? No, no, and no. This has disaster written all over it. Instead of chargebacks, educate your coin users about fraud prevention. I really can't imagine a situation where you'd need a chargeback if you'd started smart using escrow, etc.

Please explain why you think chargebacks on a digital currency are a good idea, I'm honestly curious as to why you think this is a good thing.
~richgene

[solracx]

About chargebacks.

More like time constrained charge backs.

If some one sends 1 million coins, then there is a longer time to claim a charge back from someone who sent 1 coin.

Think more on the lines of two factor authentication.

Account A sends 1 million coins to account B.
Account B cannot claim account A funds until fixed time T.
If before fixed time T, account A cancels, then account B does not have access to transfer funds.

More like a time bound escrow.

[eagleEye]

Hi, if any interested in current block genesis of this coin, I have updaded for linux clients here https://github.com/eagleeyee/ZenithCoin