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

[vella85]

Picked up some more ZEIT coins today with some Doge I received from a faucet. It's amazing how fast it piles up using Doge from faucets to purchase ZEIT. I now have just over 2 million ZEIT which I know isn't too much but all of it was from faucets more so Doge and LTC. My goal is to reach 10 million ZEIT coins in the next couple of months.

[1714941405]

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[1714941405]

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[kiklo]

Become a legendary zeight (ZEIT Knight) and help us to help others.

Think of it like King Arthur and his Round Table, every one at the Table is Equal.
A Group of Men & Women banding together to make the Way of ZEIT a worldwide reality.
_______________________________________________________________________________ _
The ZEIT Knight's End Game,
To make this World a Better Place for All who reside in it.
By making ZEIT into a tool that can help someone next door or someone across the world.
______________________________________________________________________________
Technically ZEIT is a Virtual Resource that is made by personal computers,
To make ZEIT , you need CPU Labor, Electricity, Internet connection, & Time,
We combine those resources to make ZEIT.
______________________________________________________________________________


The ZEIT Knights began accepting members in Feb 2015.
Each ZEIT Knight will hold 100 million zeitcoins
Currently 14 ZEIT Knights.

Registration for Anyone wanting to be a ZEIT Knight is Now : Month of March 2017.

Our Maximum Number of ZEIT Knights will be 300 , that group will make history as supporters of this coin.

New members have to pass the test of Proof of ZEIT Knight. Link Below.
https://bitcointalk.org/index.php?topic=487814.msg18020336#msg18020336

After they Pass the test , this happens.
https://bitcointalk.org/index.php?topic=487814.msg10324746#msg10324746

 

[kiklo]

Example of how to Register

Proof of ZEIT Knight!

Goto https://chainz.cryptoid.info/zeit/   and verify your amount of ZEIT is at least 100 million.
Copy & Paste your ZEIT address in the search box and hit enter.
Copy & Paste  your Address & Balance  in a POST , time stamped in March 2017 on the ZEIT Forum.
Example Post:
_________________________________________________________________________
Proof of ZEIT Knight

Name:                 Kiklo
Address               MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63       
Balance               109,697,169.412637 ZEIT
__________________________________________________________________________

Once your Post is up, We will send you 2025 zeitcoins within 12 hours, after you receive the ZEIT,
Use Coin Control and send back exactly 2015 ZEIT to MgUFJ2AJvhaWsW4kkfwoDuzy2pZSQLJB63 , from the 2025 that was sent to you.
(Only send from the block of 2025 sent to you, sending from another block , can cause the entire block amount to be subtracted from your total by the block explorer stats.)

This confirms your ownership of the Account.
Within 24 hours of confirming ownership of the account,
A Post will be added to the ZEIT Forum of your Achievement & ZEIT KNIGHTHOOD!!!

 

FYI:  If you are unfamiliar using coin control , read the following 1st and ask if you have any questions.
https://bitcointalk.org/index.php?topic=487814.msg10296134#msg10296134

[podizzler3000]

whats up with those giant wallets that havent been run in 1000 days. talk about missing out!

[atronite2]

So for whatever reason, the original account I owned had the email removed and is unrecoverable, so i had to create this new account. =/

Anyways, what's up?

Bitcoin prices getting pretty crazy lately, esp with the Bitcoin ETF coming up. Dash has been up lately too.

If anyone's interested, the blocks of 1m zeitcoin on Cryptopia are mine, but I'm willing to put sell orders down to 130 litoshis if anyone wants to become a knight. Doing my part to continue to provide liquidity to the markets.....at least the one with any actual volume on them.

Also, can't wait until we finally go ultra low inflation! I wish we could go the masternode route without forking. It would REALLY be in the Zeit Knight spirit if we could, although maybe lower the requirement to 25m Zeitcoin to quadruple the size of our potential community.

[podizzler3000]

kiklo does some good reasoning against masternodes on the previous page... also btctalk banned my account for no reason as well. not surprising with theymos running the show.

[kiklo]

Recap on Masternodes

Masternodes only really make sense for PoW coins as a way to pay the users that run Full Nodes a % of the miner's reward.

All ZEIT wallets are Full Nodes (No ASICS), so really no point for us to add it.

After the Switch to Ultra Low Interest, the Proof of Stake primary use is to secure the chain and allow the staked block to receive transaction fees.

ZEIT Full Nodes will profit mainly by processing transactions.
(Unlike BTC where Full Nodes receive nothing, their will be Direct Incentive to Run a ZEIT Node.)


 


FYI:
Requirement of Knighthood Show a Massive Support for ZEIT ,
There will only be a max of 300 Knights Worldwide, it will be a title earned & held by the rare few.
Lowering the requirements would Diminish the efforts of our resolve.

It may be we go a year or so without New Knights, that is up to fate to decide.
Becoming & Staying a Knight shows the Strength of Will to Persevere thru any Storm.

[atronite2]

Recap on Masternodes

Masternodes only really make sense for PoW coins as a way to pay the users that run Full Nodes a % of the miner's reward.

All ZEIT wallets are Full Nodes (No ASICS), so really no point for us to add it.

After the Switch to Ultra Low Interest, the Proof of Stake primary use is to secure the chain and allow the staked block to receive transaction fees.

ZEIT Full Nodes will profit mainly by processing transactions.
(Unlike BTC where Full Nodes receive nothing, their will be Direct Incentive to Run a ZEIT Node.)


 


FYI:
Requirement of Knighthood Show a Massive Support for ZEIT ,
There will only be a max of 300 Knights Worldwide, it will be a title earned & held by the rare few.
Lowering the requirements would Diminish the efforts of our resolve.

It may be we go a year or so without New Knights, that is up to fate to decide.
Becoming & Staying a Knight shows the Strength of Will to Persevere thru any Storm.

I get the part that we're a full node already. What I don't get is why we don't have increased rewards for having, say 100m zeitcoin in the wallet while running a full node.

DASH, for example, requires 1000 units to earn what amounts to something like 11-18% interest, and that seems to be working out really well. And the purpose of having this node is to act as an annonymizer and process stuff. Now we don't have to anonymize anything, but having 100m coins per node securing the network all the time is better than 3m coins. So if we gave a 1% annualized interest rate for having 100m coins, then you'd have a buyer's incentive, and an incentive to save. 

Or am I missing something here?

[kiklo]

I get the part that we're a full node already. What I don't get is why we don't have increased rewards for having, say 100m zeitcoin in the wallet while running a full node.

DASH, for example, requires 1000 units to earn what amounts to something like 11-18% interest, and that seems to be working out really well. And the purpose of having this node is to act as an annonymizer and process stuff. Now we don't have to anonymize anything, but having 100m coins per node securing the network all the time is better than 3m coins. So if we gave a 1% annualized interest rate for having 100m coins, then you'd have a buyer's incentive, and an incentive to save. 

Or am I missing something here?

Dash has less than 8 million coins, with a larger portion of them tied up in MasterNodes.
Masternodes do not receive interest,
In return for being a masternode, one masternode is selected by the network to receive a part of the PoW reward of each mined block.

Dash's PoW reward is only 3.6 dash per block at a blockspeed of 2½ minutes.
Dash makes 576 blocks per day , Meaning their Total inflation is only 2073.6 coins per day.

ZEIT PoST has 5X the transaction carrying capacity of Dash, by moving to ultra low inflation of .0005% ,
our new Total Daily inflation will be less than 500 new coins per day.

We are moving to such a low interest rate, because to be frank , there is absolutely no way ZEIT can grow or even sustain a decent market price if our inflation causes millions of new coins to be generated on a daily basis, which is what is currently happening.

What the ultra low rate does is Cap our inflation , to a reasonable number , that allows the coin's price to stabilize and grow.
As far as incentive, Our incentive changes from creating excess inflation out of thin air that crushes the marketcap, to one of where when you stake a block your client includes the transactions and as such you will receive the transaction fees , which will become a higher payout than the ultra low rate per block as our volume increase in time.
It changes our dynamic , to earn more of the transaction fees , you have to stake more blocks, however the more ZEIT coins stored per block the better your chance to stake and earn the transaction fees. There is an increased incentive to keep the wallet Online & Staking to stake as many blocks as possible , so you earn more of the transaction fees that did not exist with the old way (where people just leave the systems offline and only stake every few months).


 

[atronite2]

I get the part that we're a full node already. What I don't get is why we don't have increased rewards for having, say 100m zeitcoin in the wallet while running a full node.

DASH, for example, requires 1000 units to earn what amounts to something like 11-18% interest, and that seems to be working out really well. And the purpose of having this node is to act as an annonymizer and process stuff. Now we don't have to anonymize anything, but having 100m coins per node securing the network all the time is better than 3m coins. So if we gave a 1% annualized interest rate for having 100m coins, then you'd have a buyer's incentive, and an incentive to save. 

Or am I missing something here?

Dash has less than 8 million coins, with a larger portion of them tied up in MasterNodes.
Masternodes do not receive interest,
In return for being a masternode, one masternode is selected by the network to receive a part of the PoW reward of each mined block.

Dash's PoW reward is only 3.6 dash per block at a blockspeed of 2½ minutes.
Dash makes 576 blocks per day , Meaning their Total inflation is only 2073.6 coins per day.

ZEIT PoST has 5X the transaction carrying capacity of Dash, by moving to ultra low inflation of .0005% ,
our new Total Daily inflation will be less than 500 new coins per day.

We are moving to such a low interest rate, because to be frank , there is absolutely no way ZEIT can grow or even sustain a decent market price if our inflation causes millions of new coins to be generated on a daily basis, which is what is currently happening.

What the ultra low rate does is Cap our inflation , to a reasonable number , that allows the coin's price to stabilize and grow.
As far as incentive, Our incentive changes from creating excess inflation out of thin air that crushes the marketcap, to one of where when you stake a block your client includes the transactions and as such you will receive the transaction fees , which will become a higher payout than the ultra low rate per block as our volume increase in time.
It changes our dynamic , to earn more of the transaction fees , you have to stake more blocks, however the more ZEIT coins stored per block the better your chance to stake and earn the transaction fees. There is an increased incentive to keep the wallet Online & Staking to stake as many blocks as possible , so you earn more of the transaction fees that did not exist with the old way (where people just leave the systems offline and only stake every few months).


 

Even so, even a Zeit Knight would only ever get 50k coins per year right? How well does this test outside our community? Would this change alone convince more people to buy and adopt Zeitcoin?

[brian_nguyen]

A few days late but here goes:

[a_cat_named_joe]

Yobit investigated for fraud:

https://cointelegraph.com/news/cryptocurrency-exchange-yobit-investigated-in-russia-on-fraud-claims

Looks like I'll never get my stranded Zeitcoins.   

[kiklo]

Even so, even a Zeit Knight would only ever get 50k coins per year right? How well does this test outside our community? Would this change alone convince more people to buy and adopt Zeitcoin?

You missing the point , there are ~36 Billion coins.
We don't need more coins , we need the price to increase per coin, that can only happen by controlling inflation.

People will Buy ZEIT for the exact same reason that they buy Bitcoin, because it's price keeps increasing due to inflation control.
Advantage we have is that the people that own coins can stake, and when they stake earn the transaction fees, in BTC only the PoW miners earn those fees.
So we have a direct incentive for people to run full nodes, BTC does not.
Knights will have a strong incentive to stake and earn additional transaction fees.
They can sell all of their transaction fees to the market and never touch their principle amount if they don't choose too.
By making a living off of processing transaction fees, we don't crash the price by endless out of control inflation.

Look at your # of coins you have in your wallet
1. Do you want more coins even if the coins are worth only 1 litoshi. (Out of Control Inflation decreases price per coin)
Or
2. Would you rather have your current # of coins worth $1 each? (Controlled Inflation and our Price will rise.)

Everyone I have spoken with prefers option 2.

 

[podizzler3000]

shout outs to the guys at www.poswallet.com pretty cool site i just discovered today. ZEIT has 230 nodes that is most impressive!

[uki]

Even so, even a Zeit Knight would only ever get 50k coins per year right? How well does this test outside our community? Would this change alone convince more people to buy and adopt Zeitcoin?

You missing the point , there are ~36 Billion coins.
We don't need more coins , we need the price to increase per coin, that can only happen by controlling inflation.

People will Buy ZEIT for the exact same reason that they buy Bitcoin, because it's price keeps increasing due to inflation control.
Advantage we have is that the people that own coins can stake, and when they stake earn the transaction fees, in BTC only the PoW miners earn those fees.
So we have a direct incentive for people to run full nodes, BTC does not.
Knights will have a strong incentive to stake and earn additional transaction fees.
They can sell all of their transaction fees to the market and never touch their principle amount if they don't choose too.
By making a living off of processing transaction fees, we don't crash the price by endless out of control inflation.

Look at your # of coins you have in your wallet
1. Do you want more coins even if the coins are worth only 1 litoshi. (Out of Control Inflation decreases price per coin)
Or
2. Would you rather have your current # of coins worth $1 each? (Controlled Inflation and our Price will rise.)

Everyone I have spoken with prefers option 2.

 

how about option number 3: cutting three zeros and lowering the inflation?
that would definitely boost the price per coin.

[kiklo]

how about option number 3: cutting three zeros and lowering the inflation?
that would definitely boost the price per coin.

Everyone has all ready agreed to Option 2,  which is lowering the inflation rate
Just waiting on the real world to release enough of Rent_a_Ray's time so he can make the changes.

Cutting the zeros as you say would make no difference except crashing our marketcap from
~$200,000  , take away 3 zeros , to ~$200 ,
If we did that we might as well just shoot ZEIT in the head , because either of those would kill it.  
Which is why we are not doing that.

 

[kiklo]

shout outs to the guys at www.poswallet.com pretty cool site i just discovered today. ZEIT has 230 nodes that is most impressive!

Agreed , Their ZEIT Faucet is now Open.  

While I would never recommend someone store all of their ZEIT with a 3rd Party.
PoSWallet does Offer an Awesome Potential to act as a Mobile Wallet for ZEIT USERS (that allows Staking).
Also for Users that don't have enough to Stake, it holds Potential for them.
So storing enough ZEIT there so you would be able to spend at a coffee shop, holds potential.
You could reload it like a gift card and then spend it in your Favorite Coffee Shops or Restaurants , using your Mobile Device.

Can I use PoSwallet on mobile devices?
We have an Android app under development - target is to release it in March. We are also planning on releasing an iPhone app - currently looking for developers to help.

 

FYI:
Here is an article on them.
http://bitcoindood.com/bitcoin-blog/tag/poswallet/

FYI2: Be aware their is a few hours delay before deposits can be withdrawn.

There are account requirements – no penalties for withdrawals either.
One thing to note: once a user sends coins to a poswallet.com address,
there is an initial vesting period (different for each coin, but generally 3-4 hours) where the coins can not be immediately withdrawn.

[kiklo]

FYI:
Cryptopia Update takes effect on 3-10-2017 .

Notice: Due to low volume the DOT, XMR, UNO and FTC base markets will be closing on 10/03, please cancel any open orders

 

[AliceWonderMiscreations]

I do not own any zeit or even know where to get any (though I saw links on the home page) but I am contemplating running it to give it a try.

Only other altcoins I tried were Quark and Namecoin.

I am a little frustrated with bitcoin, namely the direction it is going appears to be a direction I do not want it to go. The biggest advantage to me honestly for bitcoin was its utility in micropayments (by micropayments I mean value < $10 USD) but it appears that is no longer of much concern to them even though it was micropayments from satoshidice that largely paid miners and helped test the network in its early days.

I don't like off-chain solutions such as what Core is proposing, to me an alt-coin is better than off chain transaction. When I saw that Zeit has standard tx fee and processes transactions in order received, well, both of those are characteristics I like. Only thing I think would be nice that I didn't see is ability to spend from Android.

Sometime in the next few days I'll be attempting to build the client (x86_64 CentOS 7) and see how it goes.

This thread is a long one, I can't promise I'll read it all, but I'll look for the good parts.

Anyway just thought I'd introduce myself. Saw a bitcoiner laughing at the trade volume Zeit does and that shocked me, because Bitcoin started the same way with everyone (including me) laughing at its prospects.

But I'm an unusual fellow, I don't like there to be a "dominant" player - I think that's bad for the market (e.g. Google and their extensive user tracking), so I don't mind if an alt coin I pick isn't ever as big as bitcoin. I'm just very frustrated at what bitcoin is becoming and while it can be fixed, I'm not sure it will be fixed.

One last thing - Alice Wonder is a pseudonym. I'm a dude. I just like Alice in Wonderland, and so many cryptography tutorials involve Alice and Bob, and Bob - well, no offense to any Roberts here, but I like Alice better. And my online heart throb uses the pseudonym Cooper so tothether we are Alice Cooper

That's me. I'll see if I can get the client running in a day or three, and thank you to Kiklo - I knew I needed to look for an altcoin but I dreaded having to weed through the many available, but I think I found one to try.

Alice Wonder

[kiklo]

Hi Alice Wonder,

Thanks for stopping by, any questions post anytime.

Fastest Way to Sync is https://bitcointalk.org/index.php?topic=1378653.msg14024462#msg14024462 .

PosWallet.com has a ZEIT Web Wallet, so it could be used as a Mobile Wallet, and they may be releasing an android interface in the next month.  

shout outs to the guys at www.poswallet.com pretty cool site i just discovered today. ZEIT has 230 nodes that is most impressive!

Agreed , Their ZEIT Faucet is now Open.  

While I would never recommend someone store all of their ZEIT with a 3rd Party.
PoSWallet does Offer an Awesome Potential to act as a Mobile Wallet for ZEIT USERS (that allows Staking).
Also for Users that don't have enough to Stake, it holds Potential for them.
So storing enough ZEIT there so you would be able to spend at a coffee shop, holds potential.
You could reload it like a gift card and then spend it in your Favorite Coffee Shops or Restaurants , using your Mobile Device.

Can I use PoSwallet on mobile devices?
We have an Android app under development - target is to release it in March. We are also planning on releasing an iPhone app - currently looking for developers to help.

 

FYI:
Here is an article on them.
http://bitcoindood.com/bitcoin-blog/tag/poswallet/

FYI2: Be aware their is a few hours delay before deposits can be withdrawn.

There are account requirements – no penalties for withdrawals either.
One thing to note: once a user sends coins to a poswallet.com address,
there is an initial vesting period (different for each coin, but generally 3-4 hours) where the coins can not be immediately withdrawn.

Here is the Exchange List.

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