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

[uki]

Diving ZEIT#s by 3 zeros, stops global usage , cripples our network security , and destroys the chance for our marketcap to become that beacon that draws the larger community that we all want.
That is why I am against it. It would directly block what we need to happen with the Marketcap's advertising our coin.
[...]

I believe we already agreed that the notion of 'market cap' used for altcoins is absolutely meaningless (my offer to sell 100M ZEIT at 10 sat to prove me wrong is still open and I doubt anybody will accept it), and so is the value of such an 'advertisement'. If that is the only way we want to draw the attention of broader public then we may as well keep the current PoS rate forever. We will grow the 'market cap', keeping the astonishing volume on all exchanges combined below 1BTC for 364 days of the year, as it happened last year.  

Uki,
No one but you believes that nonsense that the marketcap does not matter.
So I don't know why you are thinking anyone agreed with you.

 

sorry kiklo, but it looks you don't understand what is written.
I never wrote I don't believe in market cap, as such, if it is measured properly. I only wrote, I don't agree with applying the same metodology it is used for stocks to the altcoins, simply beacuse the liquidities do not match. Is it that hard to follow? Jeez louise...

[kiklo]

sorry kiklo, but it looks you don't understand what is written.
I never wrote I don't believe in market cap, as such, if it is measured properly. I only wrote, I don't agree with applying the same metodology it is used for stocks to the altcoins, simply beacuse the liquidities do not match. Is it that hard to follow? Jeez louise...

Yep, hard to follow, cause I still don't know what you are talking about. 


 

[Redni]

What minimum coins to mint?

[uki]

sorry kiklo, but it looks you don't understand what is written.
I never wrote I don't believe in market cap, as such, if it is measured properly. I only wrote, I don't agree with applying the same metodology it is used for stocks to the altcoins, simply beacuse the liquidities do not match. Is it that hard to follow? Jeez louise...

Yep, hard to follow, cause I still don't know what you are talking about.  


 

ok, I will give it a last chance, then I give up, as I don't want to waste my time any more.
take two altcoins as an example to see how misleading 'market cap' is, if you don't put volume/liquidity in the context:

SatoshiFun [HIFUN] (https://bitcointalk.org/index.php?topic=1131278.0)
Total number of POW coins: 3 billion, currently at about 3.2 billion coins.
As far as I see, it is only traded on yobit now, last trade at 1 satoshi.
What is the market cap? still a chunky 16 BTC, nearly 20k$ in the current terms. Not bad, right? What is the liquidity?
Less than 0.1BTC in the last six months combined: https://yobit.net/en/trade/HIFUN/BTC#6M
Nobody wants to buy it, will probably disappear soon.

Not convinced yet? Let's get some extreme example then:

CONTINUUMCOIN (CTM) with total of 90 billion coins (sounds familiar, right?) and the last price well in sub satoshi levels. What is the market cap (or was at the time of last trade)? https://coinmarketcap.com/currencies/continuumcoin/#charts
A whooping 50 BTC. Excellent score, right? Nope. Simply, a misleading number, because of huge number of coins, as in case of ZEIT, and despite a very low price (5.613e-10 BTC), still somewhere sky high market cap. Coin disappeared, as many coins mentioned in this thread by Lion, simply because it was a scam. No matter the high market cap.

PS.
You may also argue that, with the same block time, CTM blocks were even more secure than ZEIT's (pun intended).

Bottom line: let's talk more about development of new features, and put less emphasis on the market cap. Otherwise, ZEIT will share the fate of the two coins mentioned above, or in the best case, it will be artificially kept alive be few zealots, with no real interest beyond that. Also, if you are so convinced about positive influence of the market cap, then don't cut the PoS rate. Let it grow by 5% to infinity. As soon as the price sinks less than 5% per year, ZEIT market cap will grow. Magic!

[kiklo]

1.  I can't even find SatoshiFun on CMK.
2.  CONTINUUMCOIN has ZERO Markets listed in their CMK
Both of those coins are already basically dead.

In comparisons,
ZEIT has multiple Markets on Multiple exchanges in Different Countries.
We have a working Website & Working Block Explorers , they don't.


Development,
You do realize, I have been waiting since Jan. for Rent_A_Ray to have the time to update to Ultra Low Specs and compile a new wallet, which is understandable due to the time constraints placed on him by his real world situation.  
You want more development , then we are going to have to Pay some developers to help Ray with the coding, Ray is more than capable on the coding front, but his time is limited.  Developer pay ranges from $300 US to $600 for light to heavy changes.
If enough of you , are willing to combine funds to make that happen , let me know and we will go from there.

Just so everyone knows running ZEIT has never been free.
Rent_A_Ray and been covering the Domain & Website & SSL certificate out of his own pocket the entire time.
I have been covering the costs of the Chainz Block Explorer out of my own pocket the entire time.

Rent_A_Ray has been maintaining the wallet programming at zero charge to the community.
I have been doing tech support & free Blockchain Snapshots at zero charge to the community.
We both run full time nodes.

Mine & Ray's Time and Money are at their limit, so if you want more of anything for the time being,
You & the others are going to have to chip in together to make it happen.

5% rate changed to .0005% was voted on by the community & passed, that will happen at some point. (Hopefully in April or May)
Price will continue to drop per coin as inflation will continue to erode the marketcap until we change to Ultra Low.
Our only Salvation is moving to Ultra Low Inflation, sorry that is paramount and every other concern pales in comparison to it.
We change to Ultra Low or we die , there are no other options.

We can add every new feature under the sun, but to be honest until our inflation is controlled , absolutely none of it will matter.
Other coins add new features all of the time, it does not help their pricing at all.
(Because the majority of those new features are unnecessary.)

New features I am watching is header sync , but as of yet no one else has made a good working version of it for a PoS coin.
Once someone does we will start looking at it and integrating it into ZEIT , but if you want us on the bleeding edge of research & development,  
then the community will have to spend a lot of money to make it happen.
And this is the thing , most Alt communities don't want to spend additional money on those new features and are more than willing to let someone else be the one to spend the time and resources to develop a feature and then they can integrate it later with very little time and money required.

 

[kiklo]

What minimum coins to mint?

50 Thousand to 1 million coins per block will usually stake within 30 days.

Numbers below that take longer,
Bottom of the page has a chart
Stake Input Size for the last 1000 blocks
https://chainz.cryptoid.info/zeit/#!extraction


 

[uki]

Kiklo, regarding development and money for that, here is my offer. As a Knight I propose 15% out of my 100M ZEIT to be destined for that.
If the (some) other Kinghts would follow, we could easily collect 100-150M to pay the dev. I guess that would be a fair deal to start with, and finally we would have some visible contribution from the ZEIT community (apart from yours and Ray's contributions).

PS. regarding market cap I promised to not comment any more, however, please re-read carefully my previous post.

[kiklo]

Kiklo, regarding development and money for that, here is my offer. As a Knight I propose 15% out of my 100M ZEIT to be destined for that.
If the (some) other Knights would follow, we could easily collect 100-150M to pay the dev. I guess that would be a fair deal to start with, and finally we would have some visible contribution from the ZEIT community (apart from yours and Ray's contributions).

PS. regarding market cap I promised to not comment any more, however, please re-read carefully my previous post.

Hmm,
While that is a generous offer, unless there is a specific feature that you can't wait for.
I would suggest holding off for the time being and wait for the stabilization of the price to occur after a few months of the ultra low inflation.
Rent_A_Ray will always be the Lead Dev , if anyone is hired they would be under his direction , as the final code changes are always his to confirm or deny.
He has done more for this coin than anyone.

 

[BitcoinNational]

let me chime in my 2cents.

the beef is with hitting some BTC bench mark, right?

forget about it.

trade LTC, Doge, and UNO (if we ever come back online).

All 3 are due for a swing up.  BTC is looking south.

BTC markets cost too much to trade.

With luck ZEIT will get to some BTC pricing, but only fools will risk BTC posted on an exchange hoping for ticks up or down.  Look at doge.  It is frustrating to buy/sell unless you willing to pay the 5% slippage.

2cents more, focus on creating or finding another stake pool.  This idea is the future for POS.  Average joes will jump into pools, they don't get PC staking.

[kiklo]

BTC, LTC or Doge makes no difference , INFLATION is the SWORD THAT IS being slowly Shoved in the Heart of ZEIT 5% at a time,
which is why it must be removed where it can cause no future harm.

Once everything Stabilizes, ZEIT users will earn more from processing the transaction fees than the Proof of Stake.
Which is why we will be a PoST coin instead of PoS.  Transaction fees will be the new business model.
Natural Evolution to a Completely sustainable inflation model.

Agreed BTC is Pricing itself out of the markets. Coinbase is no longer covering the transaction fees is just going to make that worse.

There is a staking pool for ZEIT users that want a banking type of experience on Poswallet.com where they don't have to maintain a blockchain,
what others do you suggest?

 

[podizzler3000]

a ZEIT/ETH market would be nice

[msdoter7]

a ZEIT/ETH market would be nice

yes it is better market to push price up . And we can exchange  with other eth tokens

[kiklo]

ZEIT Blockchain Snapshot Updated to 3-26-2017
THE FASTEST WAY TO SYNC A BLOCKCHAIN,  
https://bitcointalk.org/index.php?topic=1378653.msg14024462#msg14024462


 

[atronite2]

Inflation, without a corresponding increase in goods that can be bought with the money, is a bad thing.

Decreasing POS to next to nothing is only half the solution. The other half is the need to bring in more developers, establish a superior governance mechanism (with Devs as the top, and Knights having a significant voice in the process), and most importantly have ways to actually SPEND zeitcoin and increase currency velocity that doesn't just include market speculation.

The focus shouldn't just be on features, but features that get more people excited about zeitcoin and bring in more people who want to join the community.

[Cryptomsel]

I am lucky to have hung on to the R9 Nanos - nearly sold them to gpushack- - never knew that these small guys were absolute cracker with Optiminer. I have 45 of them - all ROIed during the 2015-16 ETH days. Even on -100mV/800/500 they deliver 370-390 S/s per card. Stock 400+ S/s easy.

[Cryptomsel]

I am lucky to have hung on to the R9 Nanos - nearly sold them to gpushack- - never knew that these small guys were absolute cracker with Optiminer. I have 45 of them - all ROIed during the 2015-16 ETH days. Even on -100mV/800/500 they deliver 370-390 S/s per card. Stock 400+ S/s easy.

[podizzler3000]

well ltc and doge going up is good for zeit!

[kiklo]

POSWALLET ANDROID APP is online,

https://play.google.com/store/apps/details?id=com.poswallet.poswapp&hl=en


 

[vella85]

well ltc and doge going up is good for zeit!

Yeah well it does seem to be helping the ZEIT price as people are trading in their Doge and LTC for ZEIT coins. Even I'll be selling some Doge over the weekend to buy more ZEIT coins and if LTC goes any higher towards $10 I'll sell some off to buy a bunch of different Altcoins including more Zeit.

[podizzler3000]

anyone else see that zeit will be attempting a proof of transaction testnet. i guess we're ahead of the times