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

[melosine]

ZEIT @ 96 sat?! Holy moly! 

if only my damn coins were minting. I don't know what I'm doing wrong. Do I have to leave the wallet running all the time? I thought I didn't.

[Matni]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

[ponch85]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

really? then we will see a surge of Mintpal

[LionOfNarnia]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

AHEM.

Let's kill this fallacy. Once & for all time.

PoW DOES NOT end.

ZeitCoin will NEVER be "Pure PoS"

Mining will still be possible for decades to come. The only question is, will the price rise to the point where mining is still a desirable thing to do when the reward is 1 coin/block?

Here are my (simplified & estimated) 'beermat' maths on the subject...

At 1 Zeit/block, mining will give roughly 3 coins per Mh/s per day.

For it to be seen as desirable to mine, ignoring the benefits of PoS, it will need to be approximately as profitable as any of the 'top 20' coins. Right now that's only around $2.50 day, like it or not we are all tied to the performance of BitCoin.

So, on today's numbers, 1 Zeit would need to be worth around 80 cents to be profitably mine-able after it hits 1/block

With BitCoin @ $450 that's 0.001777 Btc/Zeit  

So, do you still think it's sane to be even thinking about selling Zeit right now?

Those who do will feel as stupid & short-sighted as those who sold Btc when it hit a couple of dollars apiece, believe me!

[Matni]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

really? then we will see a surge of Mintpal

Well if the 3sat sell wall can be eaten and we can get the word out that POW is 1zeit/block then yeah, we might start seeing some movement. Personally, I'd start buying more now while they're cheap. It's what I plan on doing over the weekend.

[Edit] Lion, I miss read his original question but yeah, POW doesn't end, just drops to 1Zeit/block.

Are you in front of you wallet? If so, what's the current block number?

[grumpytwat]

so does it go to 1 zeit/block in 40 hours or 12th april?

[ydrogios]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

really? then we will see a surge of Mintpal

Well if the 3sat sell wall can be eaten and we can get the word out that POW is 1zeit/block then yeah, we might start seeing some movement. Personally, I'd start buying more now while they're cheap. It's what I plan on doing over the weekend.

[Edit] Lion, I miss read his original question but yeah, POW doesn't end, just drops to 1Zeit/block.

Are you in front of you wallet? If so, what's the current block number?

Now it`s on 117249

[grumpytwat]

so does it go to 1 zeit/block in 40 hours or 12th april?

is there some kind of countdown somewhere?

[ydrogios]

My first 41204 minted coins are in wallet but n/a like everybody else

[Matni]

so does it go to 1 zeit/block in 40 hours or 12th april?

Within the next 40 hours

[Matni]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

really? then we will see a surge of Mintpal

Well if the 3sat sell wall can be eaten and we can get the word out that POW is 1zeit/block then yeah, we might start seeing some movement. Personally, I'd start buying more now while they're cheap. It's what I plan on doing over the weekend.

[Edit] Lion, I miss read his original question but yeah, POW doesn't end, just drops to 1Zeit/block.

Are you in front of you wallet? If so, what's the current block number?

Now it`s on 117249

Thanks Ponch.

So at block 120960 we drop to 1/Zeit.

Currently 117249

3711 blocks to go.

30 seconds/block

3711/120 = 31 hours

So about 8pm [gmt] tomorrow we should drop to 1/zeit per block.

[ydrogios]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

really? then we will see a surge of Mintpal

Well if the 3sat sell wall can be eaten and we can get the word out that POW is 1zeit/block then yeah, we might start seeing some movement. Personally, I'd start buying more now while they're cheap. It's what I plan on doing over the weekend.

[Edit] Lion, I miss read his original question but yeah, POW doesn't end, just drops to 1Zeit/block.

Are you in front of you wallet? If so, what's the current block number?

Now it`s on 117249

Thanks Ponch.

So at block 120960 we drop to 1/Zeit.

Currently 117249

3711 blocks to go.

30 seconds/block

3711/120 = 31 hours

So about 8pm [gmt] tomorrow we should drop to 1/zeit per block.

After that i believe we will see movement to our Great coin!!!!!!!!!!!!!!!!!!!!!!!!!And if Lions words come true then we have great perspective

[ponch85]

we have to buy now guys! let's start with the pumping !

Block: 117.411

[grumpytwat]

117439 on mine    ......buy buy buy

[LionOfNarnia]

Another reminder (for those who never read any more than the page they're about to post on!) that our new official community forum will be throwing open its' doors at 20.00hrs UTC TONIGHT  

It will be announced here on this thread, so keep your eyes peeled!

NOTE launch time is UTC so check your local timezone  - for us Brits that's 9 o'clock as we are on BST which of course is UTC+1.

If a couple of you could bump this to each new page, that'd be KEWL  

[ponch85]

Another reminder (for those who never read any more than the page they're about to post on!) that our new official community forum will be throwing open it's doors at 20.00hrs UTC TONIGHT  

It will be announced here on this thread, so keep your eyes peeled!

NOTE launch time is UTC so check your local timezone  - for us Brits that's 9 o'clock as we are on BST which of course is UTC+1.

If a couple of you could bump this to each new page, that'd be KEWL  

22:00 in Italy  

http://www.timeanddate.com/countdown/generic?iso=20140404T22&p0=215&msg=New+Official+Forum+ZEITCOIN

[podizzle]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

AHEM.

Let's kill this fallacy. Once & for all time.

PoW DOES NOT end.

ZeitCoin will NEVER be "Pure PoS"

Mining will still be possible for decades to come. The only question is, will the price rise to the point where mining is still a desirable thing to do when the reward is 1 coin/block?

Here are my (simplified & estimated) 'beermat' maths on the subject...

At 1 Zeit/block, mining will give roughly 3 coins per Mh/s per day.

For it to be seen as desirable to mine, ignoring the benefits of PoS, it will need to be approximately as profitable as any of the 'top 20' coins. Right now that's only around $2.50 day, like it or not we are all tied to the performance of BitCoin.

So, on today's numbers, 1 Zeit would need to be worth around 80 cents to be profitably mine-able after it hits 1/block

With BitCoin @ $450 that's 0.001777 Btc/Zeit  

So, do you still think it's sane to be even thinking about selling Zeit right now?

Those who do will feel as stupid & short-sighted as those who sold Btc when it hit a couple of dollars apiece, believe me!

haha well i must say i love the way this coin was minted and the continuation of POW at 1coin / block. very original and thoughtful.

[melosine]

mine have started minting. I'm so excited.

[newra]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

AHEM.

Let's kill this fallacy. Once & for all time.

PoW DOES NOT end.

ZeitCoin will NEVER be "Pure PoS"

Mining will still be possible for decades to come. The only question is, will the price rise to the point where mining is still a desirable thing to do when the reward is 1 coin/block?

Here are my (simplified & estimated) 'beermat' maths on the subject...

At 1 Zeit/block, mining will give roughly 3 coins per Mh/s per day.

For it to be seen as desirable to mine, ignoring the benefits of PoS, it will need to be approximately as profitable as any of the 'top 20' coins. Right now that's only around $2.50 day, like it or not we are all tied to the performance of BitCoin.

So, on today's numbers, 1 Zeit would need to be worth around 80 cents to be profitably mine-able after it hits 1/block

With BitCoin @ $450 that's 0.001777 Btc/Zeit  

So, do you still think it's sane to be even thinking about selling Zeit right now?

Those who do will feel as stupid & short-sighted as those who sold Btc when it hit a couple of dollars apiece, believe me!

Lion I sincerely hope you are right.
Pardon my ignorance, but why would anyone want to mine this coin at 1 Zeit/Block if the price is not up there ?

Again I am not questioning your theory, just trying to understand it better.

[ticote]

April 12 becomes pure POS?

No, it's within the next 36-40 hours, we're ahead of schedule because the minting hash power wasn't taken into account.

AHEM.

Let's kill this fallacy. Once & for all time.

PoW DOES NOT end.

ZeitCoin will NEVER be "Pure PoS"

Mining will still be possible for decades to come. The only question is, will the price rise to the point where mining is still a desirable thing to do when the reward is 1 coin/block?

Here are my (simplified & estimated) 'beermat' maths on the subject...

At 1 Zeit/block, mining will give roughly 3 coins per Mh/s per day.

For it to be seen as desirable to mine, ignoring the benefits of PoS, it will need to be approximately as profitable as any of the 'top 20' coins. Right now that's only around $2.50 day, like it or not we are all tied to the performance of BitCoin.

So, on today's numbers, 1 Zeit would need to be worth around 80 cents to be profitably mine-able after it hits 1/block

With BitCoin @ $450 that's 0.001777 Btc/Zeit 

So, do you still think it's sane to be even thinking about selling Zeit right now?

Those who do will feel as stupid & short-sighted as those who sold Btc when it hit a couple of dollars apiece, believe me!

Lion I sincerely hope you are right.
Pardon my ignorance, but why would anyone want to mine this coin at 1 Zeit/Block if the price is not up there ?

Again I am not questioning your theory, just trying to understand it better.

It depends of nethash.

Every day it will be 2880 Zeit for mining, so if you mine with 1Mh/s and nethash is 100MH, you would get 28,80 Zeit/day ....and so.

 Ppl would mine depending on price and nethash.