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

[vandokkum]

After so much time i have start to loose my faith on this coin.I hope to change that

Why are you losing faith in our coin? What would you like to change about it?

You should find the answer by yourself.

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[Redni]

PoSWallet news today:

The following wallets are now syncing correctly and are out of maintenance: HONEY, ZEIT, OK, XST. If you are missing a transaction in these wallets, refresh the block via the profile page. ZEIT has a million blocks left to sync, please give that another 4-8 hours. We got in touch with the 808 dev and think we have a solution there as well.

[stevegreer]

After so much time i have start to loose my faith on this coin.I hope to change that

Why are you losing faith in our coin? What would you like to change about it?

You should find the answer by yourself.

Well, unfortunately I wasn't born with the ability to read minds. So until I figure out the secret to telepathy, I will have to rely on ydrogios to say what is on his mind so that, hopefully, his concerns can be addressed to his satisfaction. But thanks for your contribution to this thread.

[Varvarin]

Greetings folks.

There is some activity in the markets. Looks like all the sub 1 satoshi coins are gone, I wonder what happens next?

btw ... seems ZEIT is over MINT marketcap. Finally

[trnpall]

Going to a 50 billion market for all coins end of May

[kiklo]

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
POSWallet	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

[kiklo]

obviously this is kind of a literal question now all the chinese exchanges are goners, but i'm wondering more about before that happened.

ltc aside, the never seems to have been much interest in alts from china.

considering they're degenerate gamblers you'd think they'd love it all. is it because most of them are based around english speaking communities, they only wanted to mine certain types, they have certain standards after all.

why do you think that was?

The guys who said they primary used ASICS, was my 1st guess also.

However as with all things , the realization that ASICS are a never ending money pit and that energy costs have no where to go but up.
The eventual conclusion is that PoW will eventually collapse due to ever increasing costs and another method such as Proof of Stake must be chosen.
At ZEIT, we have noticed the Chinese are joining our network slowly but surely. 




 

[stevegreer]

^^^ OOh! I like graphs!

[kiklo]

One word: "masternodes"

  No masternodes are ever needed here, lol

In the words of Ed McMahon, when he spoke to Johnny Carson on the Tonight Show.

To Groggin,


Here are the Tech reasons for anyone interested.

Proof of Stake lets you earn interest directly on All of the coins in your Possession.
Proof of Stake Clients are Full Nodes by default.

Masternodes work by receiving a % of a PoW miners or PoS stakers Earnings.
In other words they act as a parasite siphoning a small % of everyone earnings in exchange for acting as a Full node.

Full nodes download every block and transaction and check them against a coin's core consensus rules.
This prevents PoW miners from generating blocks with higher rewards or PoS Stakers from making their interest rate 1 million %.
In Other Words the Full Nodes keep everyone Honest and help new nodes sync to keep updated with the transactions.

MasterNodes make perfect sense in PoW coins as their is no other incentive to run a Full Node.
IE:  Dash MasterNode

Masternode on a PoS or PoS Hybrid coins , is really just those coin dev trying to grab onto the hype of having a master node.
In a PoS Network , all a masternode will do is steal a % of interest/transaction fees earned from a staker (that is already running a Full Node)
and give it to someone running a masternode.
It also has the effect of decreasing the Proof of Stake Network Security by deceasing the amount of staking coins available that secure the network.
(It is the equivalent of turning off a % of ASICs in a PoW network and leaving them off.)

Short answers :
MasterNodes for PoW is a good idea.
MasterNodes for PoS  is a bad idea.

 

[trumpcoin]

One word: "masternodes"

  No masternodes are ever needed here, lol

What does this coin have going for it then? Masternodes will really help a coin like this.

[stevegreer]

How so? From what I just read, a Masternode doesn't really benefit PoS coins. Do you know something different?

[kiklo]

One word: "masternodes"

  No masternodes are ever needed here, lol

What does this coin have going for it then? Masternodes will really help a coin like this.

It has the ZEIT Community & the Knights (Which hold 100 million Coins each to show their support of this coin.)

It has one of the Best people in the World as its Dev, the Amazing Rent_a_Ray.

It will be the only coin that has solved the Inflation Paradox inherent in all PoS coins, and also 20X the transactions capacity of BTC,
while taking ~ as much electricity as an XBOX.

ZEIT is the Total Package.  In Time everyone will know this and on that Day , BTC will Tremble before US.


 

[trumpcoin]

It has the ZEIT Community & the Knights (Which hold 100 million Coins each to show their support of this coin.)

It has one of the Best people in the World as its Dev, the Amazing Rent_a_Ray.

It will be the only coin that has solved the Inflation Paradox inherent in all PoS coins, and also 20X the transactions capacity of BTC,
while taking ~ as much electricity as an XBOX.

ZEIT is the Total Package.  In Time everyone will know this and on that Day , BTC will Tremble before US.
https://s-media-cache-ak0.pinimg.com/564x/63/24/fb/6324fbf49333596ba60d119c90dd70e5.jpg

 

What is the inflation paradox?

[kiklo]

What is the inflation paradox?

All Proof of Stake coins have to Generate New Coins per block to Process Transactions.
All Proof of Stake coins even the 1% & fixed rate ones that only give 5 coins per reward are all generating new coins at an inflation rate that makes it unsustainable for their price per coin to fully stabilize much less grow. That is why there is always a dump shortly after pumps (price increases), user sync up and stake , and then sell their stake all in the effort to earn fiat, because they don't value their staked amount, because staking gives them something for nothing. Which is not quite true, what that free inflation does when they cash out , is directly decrease the price per coin, (so their is a cost).
The Inflation Paradox is they can always sell the interest earned, but never have to touch their principle amount.  
ZEIT  solves that by becoming a PoST (Proof of Staked Transactions) coin, staking earns an Ultra Low Interest rate of .0005% per year, while the processing of Transactions fees per block can easily earn more coins. This means whenever anyone sells they lose their principle and decrease their staking %, thereby solving the inflation paradox for our coin.
* Ultra Low Inflation means less than 181,000 new coins created per year*
After the switch to Ultra Low Inflation is complete , price per coin will Stabilize and Grow.


 

[podizzler3000]

i can report poswallet is finally working 100% again. game on

[ljb281]

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
POSWallet	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

Why does everyone hate Yobit? I only use them when I cannot find a coin on Bittrex...

[solarion]

Hate is a strong word. I don't personally hate Yobit, but they're flakey and as a result I do not trust them.

There are far better options available for trading Zeit.

[stevegreer]

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
POSWallet	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

Why does everyone hate Yobit? I only use them when I cannot find a coin on Bittrex...

Ask any number of people who have coins there that can't be traded or withdrawn because YoBit won't update wallets or put wallets in maintenance mode for days at a time for no reason. Use YoBit at your own risk.

[ljb281]

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
POSWallet	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

Why does everyone hate Yobit? I only use them when I cannot find a coin on Bittrex...

Ask any number of people who have coins there that can't be traded or withdrawn because YoBit won't update wallets or put wallets in maintenance mode for days at a time for no reason. Use YoBit at your own risk.

what is a good alternative that is more safe and has a similar variety of alt coins?

[stevegreer]

Exchange	Status
alcurex	Online
CoinExchange	Online
Cryptopia	Online
NovaExchange	Online
POSWallet	Online
SouthXchange	Online
Yobit	Do not use Yobit

 

Why does everyone hate Yobit? I only use them when I cannot find a coin on Bittrex...

Ask any number of people who have coins there that can't be traded or withdrawn because YoBit won't update wallets or put wallets in maintenance mode for days at a time for no reason. Use YoBit at your own risk.

what is a good alternative that is more safe and has a similar variety of alt coins?

Any of the above in green text are a good start if you are trading ZEIT. Bleutrade is good from what I remember. Poloniex is currently the largest exchange.