★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS]

[uki]

We still have active markets for ZEIT:

https://www.coinexchange.io/market/ZEIT/BTC

and

https://www.coinexchange.io/market/ZEIT/DOGE

and for reference, ZEIT peers list:

https://www.coinexchange.io/network/peers/ZEIT

there is not much volume on your exchange. On the BTC market, you have currently three coins where the 24 hour volume exceeds 0.1BTC.
That is not very impressive if you ask me. It looks like an exchange for trading Bitcoin's faucet  earnings.

[kiklo]

there is not much volume on your exchange. On the BTC market, you have currently three coins where the 24 hour volume exceeds 0.1BTC.
That is not very impressive if you ask me. It looks like an exchange for trading Bitcoin's faucet  earnings.

Uki,

CoinExchange was kind enough to add ZEIT by verbal request alone.
All of Crypto is still a new infrastructure, and is still being built.
Some complained about Cryptopia when their total trading volume was less than $100 per day.
Now Cryptopia is in the Thousands per day and growing, CoinExchange is also growing, they are just starting so in Time their Volume will also increase.

Quick Compare
Yobit has a daily volume of ~$100 thousand per day and they are unable to even keep 70% of their wallets running, including ZEIT
CoinExchange ZEIT Wallet has performed perfectly ever since they activated it, we should ask nothing more than that from any exchange.
Trading Volume is the Community's Responsibility not the exchanges.
Also CoinMarketCap is not listing all of their markets , as I have repeatably requested they add the ZEIT/Doge Market from CoinExchange, and they have yet to do so.
They have been a responsive exchange and trading there has worked perfectly.  

 

[uki]

there is not much volume on your exchange. On the BTC market, you have currently three coins where the 24 hour volume exceeds 0.1BTC.
That is not very impressive if you ask me. It looks like an exchange for trading Bitcoin's faucet  earnings.

Uki,

CoinExchange was kind enough to add ZEIT by verbal request alone.
All of Crypto is still a new infrastructure, and is still being built.
Some complained about Cryptopia when their total trading volume was less than $100 per day.
Now Cryptopia is in the Thousands per day and growing, CoinExchange is also growing, they are just starting so in Time their Volume will also increase.

Quick Compare
Yobit has a daily volume of ~$100 thousand per day and they are unable to even keep 70% of their wallets running, including ZEIT
CoinExchange ZEIT Wallet has performed perfectly ever since they activated it, we should ask nothing more than that from any exchange.
Trading Volume is the Community's Responsibility not the exchanges.
Also CoinMarketCap is not listing all of their markets , as I have repeatably requested they add the ZEIT/Doge Market from CoinExchange, and they have yet to do so.
They have been a responsive exchange and trading there has worked perfectly.  

 

kiklo,
I fully understand your point. I also understand that it is part of exchange's job to build its brand and thus grow the volume.
To give a counter example. I loved comkort exchange (I guess you liked them, too), a tiny exchange, with great and very fast user interface who also had ZEIT listed, yet they bit the dust just because they couldn't pay their bills. All what you wrote is fine, but in the end of the day it is about volume, because volume and gains let you survive in the long term. Btw., the same applies to ZEIT.

[atronite]

there is not much volume on your exchange. On the BTC market, you have currently three coins where the 24 hour volume exceeds 0.1BTC.
That is not very impressive if you ask me. It looks like an exchange for trading Bitcoin's faucet  earnings.

Uki,

CoinExchange was kind enough to add ZEIT by verbal request alone.
All of Crypto is still a new infrastructure, and is still being built.
Some complained about Cryptopia when their total trading volume was less than $100 per day.
Now Cryptopia is in the Thousands per day and growing, CoinExchange is also growing, they are just starting so in Time their Volume will also increase.

Quick Compare
Yobit has a daily volume of ~$100 thousand per day and they are unable to even keep 70% of their wallets running, including ZEIT
CoinExchange ZEIT Wallet has performed perfectly ever since they activated it, we should ask nothing more than that from any exchange.
Trading Volume is the Community's Responsibility not the exchanges.
Also CoinMarketCap is not listing all of their markets , as I have repeatably requested they add the ZEIT/Doge Market from CoinExchange, and they have yet to do so.
They have been a responsive exchange and trading there has worked perfectly.  

 

kiklo,
I fully understand your point. I also understand that it is part of exchange's job to build its brand and thus grow the volume.
To give a counter example. I loved comkort exchange (I guess you liked them, too), a tiny exchange, with great and very fast user interface who also had ZEIT listed, yet they bit the dust just because they couldn't pay their bills. All what you wrote is fine, but in the end of the day it is about volume, because volume and gains let you survive in the long term. Btw., the same applies to ZEIT.

At the end of the day though, what matters even more than volume is TRUST.  And right now, crypto currency exchanges have very little of it. And the fact that "Don't keep your coins on an exchange" is a mantra is proof of it. On fiat exchanges, this is known as "counter party risk". But we're protected mostly from it because they take insurance and security measures that most crypto exchanges ironically do not.

Loss of trust, my friends, is the real damage when sites like Crapsy and Mt. Gox have to shut down. The loss of funds is just the flesh wound we see, the loss of trust is the poison that slowly kills these types of initiatives.

Welcome to the 1900s people. The same shit used to happen with actual BANKS too. Why do you think we have a Federal Reserve insuring our deposits in the first place with fiat money that it can generate out of nothing? Now we have to come up with a way to create our own equivalent institution without the help of government.
  

[uki]

At the end of the day though, what matters even more than volume is TRUST.  And right now, crypto currency exchanges have very little of it. And the fact that "Don't keep your coins on an exchange" is a mantra is proof of it. On fiat exchanges, this is known as "counter party risk". But we're protected mostly from it because they take insurance and security measures that most crypto exchanges ironically do not.

Loss of trust, my friends, is the real damage when sites like Crapsy and Mt. Gox have to shut down. The loss of funds is just the flesh wound we see, the loss of trust is the poison that slowly kills these types of initiatives.

Welcome to the 1900s people. The same shit used to happen with actual BANKS too. Why do you think we have a Federal Reserve insuring our deposits in the first place with fiat money that it can generate out of nothing? Now we have to come up with a way to create our own equivalent institution without the help of government.

Very valid point, atronite. I fully concur. However, I don't see an easy solution for that at the moment. Bitcoin (and other crypto currencies) at its core is about decentralisation, and thus, the currency is as stable as much trust is created among its users without central nodes. Adding a centralised trust entity, although very helpful as you write, is a bit against this initial concept, and therefore I am afraid it won't gain much popularity in the community. So it will be in the long run about what is more important, sticking to the decentralisation idea versus losing trust due to an easy misuse of the currency.

[uki]

I think it is a very relevant to put it in ZEIT thread. Zerohedge has raised a bullish flag on Bitcoin:
http://www.zerohedge.com/news/2016-10-27/needham-raises-bitcoin-price-target-848-heres-why

For these who don't have time to read it all (although I really recommend), three interesting facts about Bitcoin, as a food for thought:

- Bitcoin’s daily volatility is now comparable to small cap equities (3.3%)
- the annualized volatility of Bitcoin’s daily returns (57% now) has nearly halved from mid-2014 to mid-2016, and daily price volatility is now similar to the volatility of oil
- one of the most appealing aspects of Bitcoin for institutional investors is its low correlation to major asset classes.

[kiklo]

I think it is a very relevant to put it in ZEIT thread. Zerohedge has raised a bullish flag on Bitcoin:
http://www.zerohedge.com/news/2016-10-27/needham-raises-bitcoin-price-target-848-heres-why

For these who don't have time to read it all (although I really recommend), three interesting facts about Bitcoin, as a food for thought:

- Bitcoin’s daily volatility is now comparable to small cap equities (3.3%)
- the annualized volatility of Bitcoin’s daily returns (57% now) has nearly halved from mid-2014 to mid-2016, and daily price volatility is now similar to the volatility of oil
- one of the most appealing aspects of Bitcoin for institutional investors is its low correlation to major asset classes.

Yep, Looks like the BTC Hype Machine is getting ready to try and pump the BTC price again.
I just wish they would quit the BS.

Bitcoin is a decentralized, borderless, peer-to-peer, electronic cash system that is disintermediating and removing friction in the exchange of value by enabling fast, low-cost, global, peer-to-peer payments.

Hardly decentralized as the Chinese mining pools account for over ~70%.

We see value in Bitcoin as a “digital gold” and as a payment network that is enabling a global, open, permissionless financial system

That permissionless line is a bunch of BS , every Cryptocoin in existence is permissioned.
I wish people would think about what they are saying before they repeat nonsense.
Shows he is not really thinking , just a repeating on this article.

This BTC problem is just getting worse.
https://cointelegraph.com/news/bitcoin-transactions-confirmation-delays

Were you one of those who experienced problems with getting confirmations on your Bitcoin transactions?
Well, it was a general issue, at least recently when Blockchain had almost 50,000 unconfirmed transactions and the number is receding.

The rush of complaints about transaction confirmations taking longer than usual comes at a time when the price of Bitcoin is edging closer to the $ 700 mark.
As at the time of this publication, the price of the top digital currency stands at $ 687 and that’s about a 5 percent increase since the beginning of the week from $ 656 on Sunday Oct. 23. When these two coincide, there are bound to be speculations that they are, in a way, related.

 

[BitcoinNational]

'permissionless financial system'

I take that term to basically mean ... POW;
Any miner could 'theoretically' show up with the necessary Hash and get some.

Outside of that definition.
BTC is rather difficult to acquire without submitting on bended knee to KYC and AML regulations.
Such very permit. 

[kiklo]

'permissionless financial system'

I take that term to basically mean ... POW;
Any miner could 'theoretically' show up with the necessary Hash and get some.

Outside of that definition.
BTC is rather difficult to acquire without submitting on bended knee to KYC and AML regulations.
Such very permit.  

I had many arguements with r0ach and iamnotback, over that term so it became a pet peeve for me,
They tried to make the argument that being permissionless made PoW superior to PoS which was false.

Reason being all coins PoW or PoS are Permissioned.
Granted permissions required to mine a PoW coin
Permission to buy the ASICS from the manufacturer
Permission from Shipping company to receive the ASICS
Permission from Electric company
Permission from the ISP
Permission from the mining pool to join
Permission under the Open Source License that allows the user to run the software code.

Top 4 permissions are agreed too , only if you pay fiat to the provider, so their is really no permissionless systems in crypto.

You can see why the word permissionless irritates me, it holds no basis in reality.

 

[LionOfNarnia]

YeahMon.

Breathing is about all that's left

Perhaps 'limited friction' would be an improvement?

[kiklo]

In the Question of the Day. 

If you Live in Egypt,

is it smarter to store your wealth in the Egyptian Pound or in the Virtual Resource know as ZEIT ?

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[kiklo]

Drum roll , Please

https://www.youtube.com/watch?v=itAOGRiYRLI
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The Winning Answer is ZEIT ,  
http://themerkle.com/egyptian-pound-expected-to-lose-50-of-its-value-over-next-24-hours/

Egyptian Pound Expected To Lose 50% Of Its Value Over Next 24 Hours

 

[darslander]

Drum roll , Please

https://www.youtube.com/watch?v=itAOGRiYRLI
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The Answer is ZEIT , 
http://themerkle.com/egyptian-pound-expected-to-lose-50-of-its-value-over-next-24-hours/

Egyptian Pound Expected To Lose 50% Of Its Value Over Next 24 Hours

 

can you do for november snapshot ?  thanks
i dont understand why zeitcoin sync... is so slow . And Gulden wallet -- 2 years wallet-- can be sync. in 2 hours .

[kiklo]

can you do for november snapshot ?  thanks
i dont understand why zeitcoin sync... is so slow . And Gulden wallet -- 2 years wallet-- can be sync. in 2 hours .

BlockSpeed is the reason. (The more Blocks created the more transactions the coin is capable of, Also the longer to sync.)
At ZEIT our Block speed is a new block every 30 seconds, so 1 days worth of blocks is 2880.

Gulden block speed is 150 seconds for a new block, so 1 day worth of blocks should be ~ 576 blocks per day ,
however they are not even reaching that number of blocks because they have a problem with PoW mining pools skyrocketing the difficulty,
and then disconnecting, which is leaving gaps of 40 minutes without a block being found multiple times per day.
I informed their team over a year ago , that needs to be fixed if they ever expect to see any real world usage.
40 minute gaps in transaction time is just not acceptable for a coin with global aspirations.

The Faster Block Speed makes us better for real world usage.

Hurricane had slowed down my snapshot updates, was catching up as your Post arrived.
I will move ZEIT to the Front of the Sync Queue, will have an updated ZEIT Snapshot uploaded in 24 hours or so.

   

[kiklo]

ZEIT Blockchain Snapshot Updated to 2016-11-05

ZEIT SNAPSHOT


 

[darslander]

ZEIT Blockchain Snapshot Updated to 2016-11-05

ZEIT SNAPSHOT


 

thanks.
you say : The Faster Block Speed makes us better for real world usage. Why if we need to wait for sinc so long time???
are you going to make some web wallet with 24/24 sinc wallet ?

[kiklo]

In the Future , we will have Lite Wallets with instant sync.
But we have not reached that point yet.
I found a service that does one for mobile Devices & Desktop wallets, but they want $1500 upfront , and no one else has shown any interest in it.
So the lite/mobile wallets will be on hold , until interest grows or the upfront payment drops considerably or web wallets are offered that users trust.
(Our Lite Wallets will never Stake.)


 

FYI:
Once ZEIT global usage grows, we will need that faster block speed for its transactions capacity.
The Transactions capacity will be more important than sync speed.
The higher block speed also keeps the staking difficulty lower , so that people are not blocked from staking.
ZEIT is one of the fairest staking systems of any crypto, high block speed is part of that.



FYI2: ZEIT Sync tip
Windows Firewall may be causing random disconnects slowing your Sync, be sure that ZEIT is in the allowed list.
Windows :
Click start, click control panel, click Windows Firewall,
Make a note on which network is connected Home/Work or Public
Then Click on Allow a Program or feature thru Windows Firewall , click allow another program, click browse ,
then go to the folder with zeitcoin-qt.exe , select zeitcoin-qt.exe  , click open, click add ,
It should then be in the list of allowed programs with a check mark to the left and a check mark on the right side under home/work or public
(you want it to be on the 1 that showed as connected), Click OK , and then reboot.

[r0cinante]

  hope ZEIT holders are running their wallets and staking, only a few PoS rounds remain before we hit 5%

[kiklo]

Zeit Syncing Tips for PoS

Keep your Wallet Locked when you are not Synced with the network if you have coins in your wallet.

The Blue Check mark will appear a few minutes before synced , but may not be completely synced yet,
Move the mouse over the Blue Check mark , and it will show
Last Received Block was Generated (Time) ago.
When it says 1 minute or less , then it is a good time to unlock the wallet and let it stake.
If it says 5 minutes and you check it again a few minutes later and says 15 minutes, then close and restart your wallet, and it will sync quickly.

If you don't keep the wallet locked until synced, it will still try to generate stake , but since you are not fully synced , they will all be orphans. Or in some cases can actually try to fork, when this happens your wallet will freeze up at the block number where it tried to fork and not receive any more blocks, until you restart your wallet so it can get back on the correct chain.

Anyone unclear or need more details post.

 

FYI:
If your ISP has issues, it can cause you to fall out of sync with the current block # and a restart of the wallet may be required.

[kiklo]

Zeit Coin Staking Tips

1. Make sure your PC's Time is correct.
   Ver 2.0.1.7 requires your PC time to be within 1 minute of correct time.

2. Amount of Zeit to have per block.
    Blocks with 50 thousand zeit per block or more will stake within 30 days
    Blocks around 5 thousand zeit per block will usually stake in 30 to 60 days
    Blocks of 2 thousand zeit and below, may not stake within a year.

Recommend merging amounts of zeit under 2 thousand per block to higher amounts.

Zeit Wallet response and feel are dependent upon individual CPU & Memory Specifications
But if your wallet feels unresponsive and you want it to be more responsive and use less cpu,
merge your blocks , so that your wallet contains fewer blocks with more zeit in each block.

Link to CoinControl Tips
https://bitcointalk.org/index.php?topic=487814.msg10296134#msg10296134

 

Zeit Staking Information
Blocks in Zeit wallets compete against blocks in other Zeit wallets to see who wins the right to stake (interest) every 30 seconds. Zeit uses Weight to pick the stake winner.

Weight is calculated :
Weight=Number of coins in a block * CoinAge

For Zeit CoinAge starts at 20 days & ends at 40 days,
Meaning if your block is 25 days old , then your coinage is 5.
For security reasons , CoinAge quits growing at 20.
So after 40 days your coinage=20 , but if you only have 500 in a block, then its weight is
Weight=Number of coins in a block * CoinAge
 10000 =  500  * 20

Since our blocks use weight to compete to see when we stake,
that weight is so low , it would be a year or more, before it staked if ever.
That is why it is recommended to keep at least 5000 or more zeit per block , if you want that block to be able to stake (earn interest) within 30 to 60 days.
Higher amount of zeit in a block like 50,000 or more will generally stake within 30 days.