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

[solarion]

The Exchange https://tradesatoshi.com is now Synced & Online.

BTC /  LTC  / Doge Pairs now OPEN.


╥Aztek

Seems as though they're still ironing out kinks over there. I was able to place trades, but they intermittently took an unreasonably long time(like minutes), though it does seem to be improving. Also I successfully withdrew funds from there without any hassle, so that's good news.

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[puremage111]

Hello, can anyone tell me how can i remove the passphrase for the wallet?

Thanks

[Leppard71]

How are confirmations made in this currency?

[solarion]

Hello, can anyone tell me how can i remove the passphrase for the wallet?

Thanks

I believe you can go to settings > Change passphrase...

Then enter current passphrase and leave the new passphrase field blank and I believe it will decrypt your wallet file.

[solarion]

How are confirmations made in this currency?

Zeitcoin is a proof-of-stake coin, so confirmations are done by open wallets competing for stake.

PoST : Proof of Stake Transactions
30 seconds block target
Interest on Proof of Stake:
Year 1: 25% | Year 2: 20% | Year 3: 15% | Final 5%
4 confirmations per Transaction means fast 2 minute confirmations
50 confirmations per ZEIT blocks

[yeahitsme]

so how does this affect new people who would be getting into zeit after uli takes effect there are so many coins and the majority of the holders will be the beneficiaries of the price increase what is there to  make new people want to get in and raise the price other than buy low sell hi concept which inevitably will lead to a secondary decline "and for every person who gets rich another person is left out to dry" not saying I disagree with the uli however just trying to see how by only doing a lower pos rate with the majority of stake holders currently having had years of stake on their coins how and why should people invest back into it to me I just feel that its not just an inflation problem.... just my thoughts on it is all

[kiklo]

so how does this affect new people who would be getting into zeit after uli takes effect there are so many coins and the majority of the holders will be the beneficiaries of the price increase what is there to  make new people want to get in and raise the price other than buy low sell hi concept which inevitably will lead to a secondary decline "and for every person who gets rich another person is left out to dry" not saying I disagree with the uli however just trying to see how by only doing a lower pos rate with the majority of stake holders currently having had years of stake on their coins how and why should people invest back into it to me I just feel that its not just an inflation problem.... just my thoughts on it is all

Hmm,

After the ULI,
To actually benefit from a price increase the holder has to sell his coins and this costs him future staking ability to earn transaction fees.
Anyone can buy ZEIT and they decide how much or how little profit they make.

I suggest you study BTC inflation model, where a declining inflation rate promotes a increase in price over time.
Then you will understand why the ULI is so important.

But back to your original question , why would someone buy ZEIT after the ULI.
To Wait for and sell when the price increase
or
To use as a way to transfer value from one entity to another
or
To own enough ZEIT to be able to stake and earn transaction fees ,
and live off of selling nothing but their transaction fees.

*** With the Switch to ULI Completes,
ZEIT becomes similar to an ASIC it runs and safeguards the network
and provides a livelihood for its owners.
It has none of the failures of the PoW ASICS,
ZEIT is Energy Efficient and will not require new equipment be purchased and cooling a warehouse to run. Plus it already has 20X BTC current onchain transaction capacity.  

ZEIT is the Game Changer and time will prove it to all,
you can recognize it now and profit later , or ignore it.
Your Choice.  

 

[yeahitsme]

so how does this affect new people who would be getting into zeit after uli takes effect there are so many coins and the majority of the holders will be the beneficiaries of the price increase what is there to  make new people want to get in and raise the price other than buy low sell hi concept which inevitably will lead to a secondary decline "and for every person who gets rich another person is left out to dry" not saying I disagree with the uli however just trying to see how by only doing a lower pos rate with the majority of stake holders currently having had years of stake on their coins how and why should people invest back into it to me I just feel that its not just an inflation problem.... just my thoughts on it is all

Hmm,

After the ULI,
To actually benefit from a price increase the holder has to sell his coins and this costs him future staking ability to earn transaction fees.
Anyone can buy ZEIT and they decide how much or how little profit they make.

I suggest you study BTC inflation model, where a declining inflation rate promotes a increase in price over time.
Then you will understand why the ULI is so important.

But back to your original question , why would someone buy ZEIT after the ULI.
To Wait for and sell when the price increase
or
To use as a way to transfer value from one entity to another
or
To own enough ZEIT to be able to stake and earn transaction fees ,
and live off of selling nothing but their transaction fees.

*** With the Switch to ULI Completes,
ZEIT becomes similar to an ASIC it runs and safeguards the network
and provides a livelihood for its owners.
It has none of the failures of the PoW ASICS,
ZEIT is Energy Efficient and will not require new equipment be purchased and cooling a warehouse to run. Plus it already has 20X BTC current onchain transaction capacity.  

ZEIT is the Game Changer and time will prove it to all,
you can recognize it now and profit later , or ignore it.
Your Choice.  

 

I am familiar with the different inflation models however I agree with the base price per increase by switching over however you cannot base BTC price increases strictly upon its inflation model.. you also have to factor the adoption of the coin and the current usability of it if you couldn't go to an online store or even some brick and mortar stores and use them the price would still be in the hundreds its more adoption... after adoption the inflation rate is where it really comes into play to few means not enough to many its buying power is sucked away not being mean just factual if Zeit is to survive and become a sustainable and worth while investment it needs better usage than stake & sell or transfer of wealth from one coin to another

[BiffyMcBifferstein]

This has probably been discussed before, but the Zeitcoin Wallet app should NOT be forced shut down, because it needs to finish doing its thing.  That said, I had no choice, thanks to a botched TeamViewer session, and powered off my computer.  I'm running the Mac version of 2.0.1.7 wallet. 

Now when I run it, I get a fatal error.  If I delete everything from the support folder except for config wand wallet.dat, it will run, but will sync from the very beginning of Zeitcoin's existence.  Rather than wait 100 years for the syncing process to happen, what can I do to "catch up?"

Thanks!

[BiffyMcBifferstein]

Thanks for the info.  Will download. 

[puremage111]

On 7/6/2017

I have my coins deposit to my address

Till 30/6/2017

I got some coins through mining

Then until today, it still state no blocks ready for minting why?

It mint few days ago but right now its showing no block is ready for minting

I didn't move the coins since 7/6/2017, wallet is fully sync now

Thanks

[puremage111]

On 7/6/2017

I have my coins deposit to my address

Till 30/6/2017

I got some coins through mining

Then until today, it still state no blocks ready for minting why?

It mint few days ago but right now its showing no block is ready for minting

I didn't move the coins since 7/6/2017, wallet is fully sync now

Thanks

PoW mining ended ~3 years ago.

What version of wallet are you on?

Are you in sync with the block explorer?
https://chainz.cryptoid.info/zeit/


When a block stakes, it is not able to stake again until at least 20 days have passed.


╥Aztek

I see, as it stakes once few days ago

So i will need to wait 20 days again for the next stake?

Thanks

[vella85]

I have finally got my Zeit coin wallet all synced and unlocked for minting. How long will it take before my coins are mature to start minting and earning staking rewards? It's been over 24 hours now and the leaf icon still says no blocks for minting and could someone here tell me what is a good amount of coins to have to earn at least a stake every day. I'll be leaving my wallet open 24/7 like I do with all my POS coins.

[Rent_a_Ray]

That website, with no offence, is looking like the early days websites of the internet. That can also be said about the logo. The project is exciting but I agree with the people saying the website is out-dated. There are so many people who can change the website for way better. This looks so unprofessional and not up to date, that it will definitely scare off people. Same goes for the logo and the ANN-page.

You don't have to fix what is not broken? Come on. This is not broken but this is not pretty neither and more important: not professional neither. I would gladly spent a couple of days to change: logo, ANN-page and website. I guarantee you it will cause a huge positive impact on the community and the price of the coin as well.

@LostWords: be careful with changings of the logo - the actual ZEIT logo ist very bold/turbulent and for me it looks like 1990 / 2000 style.

@LostWords: 2ct to the website: i'm willing to help you out with it - please register at slack and join the development channel.
We should create a repository at GitHub for the website like other projekt do it: (example: https://github.com/Storj/storj.io).

Any news about the new webpage? Or was it just hot air?

Cheers,
Ray

[groggin]

I have finally got my Zeit coin wallet all synced and unlocked for minting. How long will it take before my coins are mature to start minting and earning staking rewards? It's been over 24 hours now and the leaf icon still says no blocks for minting and could someone here tell me what is a good amount of coins to have to earn at least a stake every day. I'll be leaving my wallet open 24/7 like I do with all my POS coins.

    it's 20 days before zeit will stake. after it stakes, you can use coin control to cause staking every day. for a good read on the subject, have a look here: http://wiki.hobonickels.info/index.php?title=Proof_of_Stake     

[vella85]

I have finally got my Zeit coin wallet all synced and unlocked for minting. How long will it take before my coins are mature to start minting and earning staking rewards? It's been over 24 hours now and the leaf icon still says no blocks for minting and could someone here tell me what is a good amount of coins to have to earn at least a stake every day. I'll be leaving my wallet open 24/7 like I do with all my POS coins.

    it's 20 days before zeit will stake. after it stakes, you can use coin control to cause staking every day. for a good read on the subject, have a look here: http://wiki.hobonickels.info/index.php?title=Proof_of_Stake     

Thank you very much for letting me know as I couldn't find it anywhere. And thanks for the tip on coin control and I'll be sure to read up on it with the link you provided. I noticed that my wallet went out of sync overnight and was not syncing so I had to restart it and that fixed the problem,not sure what caused it though as my other pos coin wallets were fine.

[puremage111]

I have finally got my Zeit coin wallet all synced and unlocked for minting. How long will it take before my coins are mature to start minting and earning staking rewards? It's been over 24 hours now and the leaf icon still says no blocks for minting and could someone here tell me what is a good amount of coins to have to earn at least a stake every day. I'll be leaving my wallet open 24/7 like I do with all my POS coins.

    it's 20 days before zeit will stake. after it stakes, you can use coin control to cause staking every day. for a good read on the subject, have a look here: http://wiki.hobonickels.info/index.php?title=Proof_of_Stake     

One question there

As it is 20 days then zeit will stake

Lets say if i uses coin control

I split 10M into 10 blocks of 1M from address A to address B

I will be required to wait for another 20 days for it to mature right?

Thanks

[groggin]

I have finally got my Zeit coin wallet all synced and unlocked for minting. How long will it take before my coins are mature to start minting and earning staking rewards? It's been over 24 hours now and the leaf icon still says no blocks for minting and could someone here tell me what is a good amount of coins to have to earn at least a stake every day. I'll be leaving my wallet open 24/7 like I do with all my POS coins.

    it's 20 days before zeit will stake. after it stakes, you can use coin control to cause staking every day. for a good read on the subject, have a look here: http://wiki.hobonickels.info/index.php?title=Proof_of_Stake     

One question there

As it is 20 days then zeit will stake

Lets say if i uses coin control

I split 10M into 10 blocks of 1M from address A to address B

I will be required to wait for another 20 days for it to mature right?

Thanks

yes, after you move them, a 20 day wait. you can also (re)send to the same address, but you still have to wait 

[blackbird123]

I don't have a very good market today. I lost a lot of money in the process of accelerating the fall

[Rent_a_Ray]

Kiklo told me the ULI testing process just had it's 1st block staked in a little over 24 hours ,
there are still more tests to be ran, but ULI code is getting much closer to being ready for release.

Everything looks fine.

Did some Artwork for the upcoming version. If the test is successful, we will see a fresh compiled ULI-Version for everyone within the next week.
Hardfork will be performed on 11th of August, 12.00 GMT. Known as Forky-Friday  
Enough time to inform all exchanges and users.

Cheers,
Ray

Here's an early example of the new Splash-Screen:


thanks to kiklo and pollforall for their work.