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

[sysOS]

So many years and still it is worth nothing 

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[KikloV]

So many years and still it is worth nothing  

So you have no Faith in ZEIT.

My questions to you, are this.
What have you personally done to make it worth something?

You need to decide what you are?

Are you a Long Term Holder that is waiting for a specific price to sell?
or
Are you merely a trader just trying to gleam a profit in fiat?

If you are a long term holder, temporary price fluctuations mean little to you ,
because you know over time the price per coin will increase.

If you are a trader, you fucked up and missed the opportunity to sell ZEIT
at ~ 6 satoshi a few months ago.

So which are you Holder or Trader?

Holders have lost nothing , even if the price drops to 1 dogeshi , as long as they wait for the price to return stronger before selling.

Traders sell as soon as they can make a profit, or they cash out to place their fiat in another coin that they think will earn them more fiat.

Whining because you have yet to make a decision , is really complaining about your own indecisiveness.
Pick one and trade according.


 

[Bitcoin!]

In regards of fiat Zeitcoin was worth 0.000001$ in September 10th 2014 now its worth 0.000058$ So its a pretty good return in 2 years cant see any bank doying those rates, peopple really dont know that fiat is worth crap and bitcoin is proving that!
And one more thing many coins are switching to pos zeitcoin is one of the oldest ones out there, When peopple realize that, oh boy!

[KikloV]

And one more thing many coins are switching to pos zeitcoin is one of the oldest ones out there

Excellent point,
The fact is all PoW coins, no matter how successful at the moment are all fated to the same dead end.
At some point the monetary and environmental costs will outweigh their network and they are destined to either die or switch to PoS.
Many areas are already banning PoW mining warehouses due to their increasing strain on the electric grid, which in some areas was raising the electric rates for all people.
ZEIT is energy efficient and cost effective to maintain, we are the future of crypto.

 Recent Article on https://cointelegraph.com/news/the-history-and-evolution-of-proof-of-stake

Four Issues With PoS

There are four main challenges in designing a Proof of Stake system:

    Distribution. Since block rewards go to stakers, how do you distribute coins initially?

    Monopolization. Those with a significant amount of coins reap a majority of all future coins.

    51% attack. Just like how Proof of Work (PoW) has to be wary of a 51% attack from a miner, so too does PoS have to be wary of a staker who has a 51% stake weight.

    Nothing at Stake (NoS). PoS adds a block when a node meets a set of conditions which includes stake weight. However, the coin forks when two nodes meet these conditions at the same time. The fork is then resolved by other nodes signing one of the two transactions. The hypothetical problem of NoS arises when 99% of all nodes sign both chains because there is no cost (nothing at stake) to verify these transactions. Therefore a 1% staker could potentially “double spend” by paying with coins on one chain but then verifying the other.

 

How ZEIT handles the so called challenges.  

1. Distribution. Since block rewards go to stakers, how do you distribute coins initially?
Initial Coins were generated thru Proof of Work, and later our high inflation rates (for 3 years) kept the price low enough that anyone could afford to own a large amount of ZEIT, if they saw fit.

2. Monopolization. Those with a significant amount of coins reap a majority of all future coins.
Our Ultra Low Inflation Rate put an end to this concern. As you can earn free dogecoins or sell your stake from other coins and buy more coins per day than our ULI of .0005% per year can generate.

3. 51% attack. Just like how Proof of Work (PoW) has to be wary of a 51% attack from a miner, so too does PoS have to be wary of a staker who has a 51% stake weight.
ZEIT uses Coin Age, to make sure the % is always in flux, plus as an attacker earns stake , he automatically decreases his % for a set time, making 51% attacks against our coin extremely difficult and extremely short in their duration (compared to a PoW coin where a 51% attacker can keep control of the network indefinitely . Also the cost to becomes a 51% stake holder drives up the price and would make the attacker lose all of his investment. Chinese have an a constant over 60% control of bitcoin for over 2 years, funny no one worries about them,

4. Nothing at Stake (NoS).
This was a manufactured lie made up by Bitcoin's Satan G. Maxwell,
as a propaganda tool to discredit Proof of stake.

For it to even be attempted requires that all Clients perform a process called multistaking.
None of the PoS wallets in release today allow multistaking.
And in truth , if studied, multistaking is an idiotic waste of resources which can make PoS burn more CPU & memory resources than even PoW, wasteful and stupid is the best description of multistaking.
For more detailed explanations are  
https://bitcointalk.org/index.php?topic=1709776.msg17135430#msg17135430
&
https://bitcointalk.org/index.php?topic=1709776.msg17136990#msg17136990


 

[KikloV]

Bittrex , the next cryptsy ??   

https://cointelegraph.com/news/bitcoin-altcoin-exchange-bittrex-eyed-with-suspicion-due-to-thousands-of-mysterious-account-closings

Bitcoin, Altcoin Exchange Bittrex Eyed With Suspicion Due to Thousands of Mysterious Account Closings

Cointelegraph recently began receiving complaints about the Bittrex exchange disabling users’ accounts for no apparent reason. One consistent theme in every complaint we’ve received is that users have attempted to open tickets and have even sought help on the exchange’s Slack, only to be ignored and banned, respectively.

One user complained that he has six Bitcoin in his Bittrex account--over $30,000 at today’s values--and no longer has access to his funds and receives no answers to his support tickets.

Another user comments:

    “My Bittrex account is disabled for more than 3 days without any warning or announcement. Their support do not answer anything.”

Another wrote:

    “Although we submitted tickets about this issue to their support team, they with all obscenity and indecency, instead of responding to their users’ tickets, they just ignore us.”

Still another user suggested the bans may be tied to users’ nationalities. He wrote:

    “In Iran, more than 3,000 accounts have been deactivated without reason.”

Another Bittrex customer emailed us, saying:

    “I talked to many users in Telegram groups and the most affected countries are Syria, India, Iran, Russia, Pakistan and Turkey.”

Many of those who emailed us pointed out that they are using verified accounts, suggesting that it isn’t a KYC/AML problem.

FYI:
I talked to a couple of US users , they are also locked out of their bittrex accounts.


 

[snakey]

Zeit seems a waste of time and money to me, For months they have shown no progress, the price is always dumping like golem. I don not find a real life use case for zeit. Zeit community please respond.

[KikloV]

Zeit seems a waste of time and money to me, For months they have shown no progress, the price is always dumping like golem. I don not find a real life use case for zeit. Zeit community please respond.

Sounds to me , like you already made your mind up.
The Community and Traders control the price variations by their choices to buy , sell or hold.

Right now its seems that the traders that purchased Zeit up to 6 sat , are dumping at 1 and possibility lower.
So most buyers are waiting for them to drop the price even lower before they buy in or waiting for a price crash in BTC, so a buy in would be cheaper in fiat.

Look , I assume you are a grown up and are old enough to make your own decisions.
So it is simple.
Sell and get what you can.
or
Hold and wait for the price to increase.

It really is not that hard, personally I am a ZEIT Knight and I will be holding my 248 Million ZEIT coins come Hell or High Water, and you can monitor my holdings at McTB1Hv4FMsuvUAnmjcdPbXta51qJ7wSWD to see for yourself, my faith in the future of ZEIT is unyielding.

I see a bright future for ZEIT, if you don't , well your choice on what you do,
We may drop lower , we may not, there is a massive amount of manipulation in the markets pretty much all of this year.

ZEIT is not like other coins, no one is going to break our spirit / will by any price manipulation shenanigans.
Make your choice, but ZEIT will continue, either way until we reach our goals.


 

FYI:


FYI2:
And just to put something into perspective for you, when we started the ZEIT Knights,
the price to attain 100 Million coin requirement was only ~$75 US.
Now the price to attain 100 million coin requirement is ~$5753 US
So saying our price has not changed verses fiat is incorrect on your part.  

[Bitcoin!]

The ZEIT wallet is currently disabled for maintenance.

Our tech support team are actively working on resolving the issue and getting it back online ASAP - sorry we cannot give an exact ETA.

Pending transactions will be processed once the wallet is re-enabled.

We apologies for any inconvenience.

Sincerely

CoinExchange.io Support Team

https://coinexchangeio.freshdesk.com/helpdesk/tickets/13660

[Badassname]

How's the website update coming along?

[cryptophil]

Hi all
I am a Staker, have some coins just waiting for the dam wallet to sync, bootstap does not seem to work for so far. Like I said am a staker so am patient, long term.
Good luck Zeit team, oh and get in discord it helps community if well organized!
Regards,
Knight CryptoPhil

[Bitcoin!]

How's the website update coming along?

Still nothing walett still in maintainance!

[KikloV]

How's the website update coming along?

Still nothing walett still in maintainance!

I think Badassname is referring to the ZEITCOIN Website,
PM ebolansk if you want an update to its release.

Bitcoin! is talking about the CoinExchange wallet, which is offline now for basically a month.
If CoinExchange does not have it working in 2 more months, we place them on our Do not Trade List with Yobit.

* Everyone needs to be aware buying zeitcoins on an exchange that does not keep it Wallets working when their are zero network issues, means you may never receive your coins. So Trade Wisely and when buying coins only buy from exchanges that keep their wallets where deposits and withdrawals are possible.
Short term maintenance on wallets is normal , maintenance taking months shows a lack of professionalism. *

In the mean time Use one of the 5 working exchanges to buy/trade coins.


 


FYI:
Never leave more coins just sitting on an exchange, except the amount you are willing to lose.

[Badassname]

Yes, I was talking about the Zeitcoin website.

[Ligareaux]

I hope zeitcoin take a jump, people really need to know about this project

[cryptophil]

Use the Snapshot , Kiklo made.
https://www.cryptopia.co.nz/Forum/Thread/1336?postId=7831

It will jump you all the way up to Oct. 2nd.
Then it only takes ~8 hours to sync the rest.

╥Aztek

Thanks man for that reply, I would still be syncing for a month and would of given up! More that 5 days to sycning a wallet is not inviting and in this case would be 10x that I guess, but was saved in time! Do you know if this project has a discord account that helps the community with theses problem, if so invite me please.

Lets keep this moving.

Knight CryptoPhil

[Alp88]

How's the website update coming along?

Still nothing walett still in maintainance!

I think Badassname is referring to the ZEITCOIN Website,
PM ebolansk if you want an update to its release.

Bitcoin! is talking about the CoinExchange wallet, which is offline now for basically a month.
If CoinExchange does not have it working in 2 more months, we place them on our Do not Trade List with Yobit.

* Everyone needs to be aware buying zeitcoins on an exchange that does not keep it Wallets working when their are zero network issues, means you may never receive your coins. So Trade Wisely and when buying coins only buy from exchanges that keep their wallets where deposits and withdrawals are possible.
Short term maintenance on wallets is normal , maintenance taking months shows a lack of professionalism. *

In the mean time Use one of the 5 working exchanges to buy/trade coins.


 


FYI:
Never leave more coins just sitting on an exchange, except the amount you are willing to lose.

Got large amount stuck on CoinExchange. I been trolling these fucks on Twitter but so far 0 reply.

[cryptophil]

Hi it states Minimum Stake Age : 24 hours, is that the matures time of new coin for example and if so is that 24 earth hours? :-D I am saying this because I already have 25 hours! Ok give or take a hour right! :-D

[KikloV]

Hi it states Minimum Stake Age : 24 hours, is that the matures time of new coin for example and if so is that 24 earth hours? :-D I am saying this because I already have 25 hours! Ok give or take a hour right! :-D

Leave it to you earthlings to complain.  

Minimum stake age , means that your coins are eligible to stake after 24 hours,
it does not mean they will stake at exactly 24 hours.

Your Coins per block begin competing with everyone else after they are 24 hours old for the right to stake.
Every Day your coins gain weight up to 20X their amount on the 20th day since they were eligible to stake.
So if your block has 1 million coins in it , on day 1 its weight is 1 million,
if someone else has a block with 500 thousand coins in one block and it is 3 day old, its weight is 1.5 million and it will stake before your block.  Block age resets to zero when it stakes or moved.  


 


FYI:
Be sure your wallet is unlocked to stake. Click Minting tab and Mint Unlock.

[MuffinMaster]

Until now, I kept Zeit on Bittrex, but I see that there is a lot of information about blocking accounts on this exchange. Where do you recommend to move coins?
I know that desktop wallet is the best, but which exchange besides Bittrex would you recommend?

[KikloV]

Until now, I kept Zeit on Bittrex, but I see that there is a lot of information about blocking accounts on this exchange. Where do you recommend to move coins?
I know that desktop wallet is the best, but which exchange besides Bittrex would you recommend?

The recommendation is never to store more coins on an exchange than what you are willing to lose.

1st issue is ,
does your Bittrex account still have access to any ZEIT.
I did not even know they still had a zeit wallet , be forewarned if they never updated to 2.0.2.1 then they forked away from the ZEIT network and there is no way for you to send those coins , unless they install version 2.0.2.1 and resync their wallets.
Check their wallet version and what block # they are on, if their wallet version is not 2.0.2.1 and it is not in sync with  https://chainz.cryptoid.info/zeit/#  it won't work.


If you have to use an exchange to store the bulk of your coins, Cryptopia has been very reliable and we have been on it the longest.