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

[bcajes]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

[Anonymousg64]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

[bcajes]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

What is the walletpassphrase for zeitcoin?? sorry for my silly questions

[Anonymousg64]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

What is the walletpassphrase for zeitcoin?? sorry for my silly questions

if your wallet is not encrypted then you dont need to unlock

[TuxNut]

Today's update speaks for itself. Have a great weekend Zeitcoin family 

Updates
BTC March 21 BTC
★    Zeitcoin Listed On Cryptsy     ★
- Zeitcoin listed on CoinWarz
- Bounties & Giveaways going strong: http://altcoinauthority.com/altcoin-giveaways/
- Next stop: The Moon

Really, that's the 'official' line is it, "- Next stop: The Moon "

Yep, feeling pretty duped!

[bcajes]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

What is the walletpassphrase for zeitcoin?? sorry for my silly questions

if your wallet is not encrypted then you dont need to unlock

My wallets says: "Minting is suspended due locked wallet"

I just want to unlock my wallet so I can start minting. Thanks

[ellave]

2 wall at mintpal coming down nicely

[bcajes]

2 wall at mintpal coming down nicely

The best thing about this is: 2 satoshi seems to be standard starting price. The LTC market at cryptsy seems to be busier than the BTC market

[TuxNut]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

What is the walletpassphrase for zeitcoin?? sorry for my silly questions

if your wallet is not encrypted then you dont need to unlock

My wallets says: "Minting is suspended due locked wallet"

I just want to unlock my wallet so I can start minting. Thanks

"walletpassphrase" is the command "yourpassphrase" if your encryption password "9999" is time in seconds for the unlock to last (will lock again when you close the wallet) and "true" means it's for minting only

So, if your encryption password is "handbags" and you'd like the wallet unlocked for 100 minutes you'd enter

walletpassphrase handbags 6000 true

[bcajes]

Can someone explain the "minting" process to me?  I have 9 entries that say "Mined," but only the 8th entry has confirmed.  The others have not (and the 9th one literally just appeared).  It's been a couple hours and they still have 0 confirms.  What's the secret?

secret is to wait till they are confirmed by the network and make sure the wallet is unlocked maybe

How do I unlock my wallet. There is no button or anywhere in the menu.

Thanks

Help -> Debug window
console Tab, enter command:

Code:

walletpassphrase yourpassphrase 999999 true

What is the walletpassphrase for zeitcoin?? sorry for my silly questions

if your wallet is not encrypted then you dont need to unlock

My wallets says: "Minting is suspended due locked wallet"

I just want to unlock my wallet so I can start minting. Thanks

"walletpassphrase" is the command "yourpassphrase" if your encryption password "9999" is time in seconds for the unlock to last (will lock again when you close the wallet) and "true" means it's for minting only

So, if your encryption password is "handbags" and you'd like the wallet unlocked for 100 minutes you'd enter

walletpassphrase handbags 6000 true

Thanks. It's working. I had a parse error earlier, but that was because my passphrase was very complicated
Thanks

[TuxNut]

Yea, I had the same issue, included ' and " had to remove them.

[bcajes]

Today's update speaks for itself. Have a great weekend Zeitcoin family 

Updates
BTC March 21 BTC
★    Zeitcoin Listed On Cryptsy     ★
- Zeitcoin listed on CoinWarz
- Bounties & Giveaways going strong: http://altcoinauthority.com/altcoin-giveaways/
- Next stop: The Moon

Really, that's the 'official' line is it, "- Next stop: The Moon "

Yep, feeling pretty duped!

Hey Devs, Take down the link to paperwallet if it is not supported anymore

[mtdew332]

Just giving everyone an update:

Working on a wallet update. Taking a break for the night. Update will be done and binaries will be launched hopefully in the next 24 - 72 hours.

Adds 2 features, and changes 1.

New Feature: Unlock Wallet
-- Allows wallet to be unlocked for minting and transactions. Locks when wallet is closed.

New Feature: Mint Wallet
-- Allows wallet to be unlocked for minting only. No transactions will be able to be sent.

Changed Feature: Change Passphrase (Not sure if I will use it)
-- To change passphrase, the wallet must be in an unlocked (Unlock or Mint) state, and will still ask for passphrase. This makes it require the passphrase twice before being able to change your passphrase.

This post seemed to be pretty much unnoticed, so I'm bumping it.  

[ellave]

ECCcoin seems to be taking off, what is the difference to Zeit?

[newra]

Bought more ZEIT on Mintpal
Do your bit and buy more

[Bluemustang]

Additional -

After week 6, the reward is 1 Z/block, the blocktime is app. 30s so the total Zeit/day is 2*60*24 = 2,880

Thus your reward will be 2,880 / network hashrate * your hashrate per day.

The current net rate is 1.16 Gh/s so if you have 1.45 Mh/s (I do) that's 2,880/1,160,000,000*1,450,000 = 3.6 Zeit/day

Compare that with what you get from minting!

That's the bit I was trying to work out, how much you'd get from mining rather than minting. Thanks for the maths!

So If I left 1MH/s mining Zeit with the current 1.16GH/s network hashrate I'd be 2,880/1,160,000,000*1,000,000 = 2.5 Zeit/day?

But I'm going to guess the network hashrate will drop to something much smaller than 1.16GH/s won't it?

Yes, but even if you are the only one mining ZEIT, then you only get 2,880 ZEIT per day. I think you would be better off mining something else then and buying into ZEIT.

No doubt it would be better to mine something else, but do you not need some network has power? I know I'd lose out mining Zeit, but if you need some net hashpower then some people need to aim a miner at it just to keep it going.

I think by people leaving their wallets open for minting, that's what keeps the network going.

Ahh right, I thought it had to have some network hashrate. Well that solves the question of whether or not to leave 1MH/s on it. Cheers everyone, much appreciated.

Now, I need to go buy some more Zeit...

what to sell...

Yeah, that's one of the key questions - what will the net hash be after week 6.

Here's an optimistic way of looking at it. Actually I still find the numbers pretty bloody scary & wonder if I'm missing something major by thinking that a lot of people are total ignorant morons thinking that planning on selling at 6, 12, 18 satoshi ... is a good idea.

IF the coin is to become an 'accepted' mainstream crypto, then it HAS TO BE around the same daily profitability as say litecoin, dogecoin etc to maintain a healthy hashrate.

That's currently between 3 - 5 GBP/day/1.5Mh/s for any of the 'top thirty' on CoinWarz.

Rounding up the numbers A LOT, that means the price of a single Zeit needs to be around ONE GBP

That's .0027 BTC each.

If you're not shitting yourself at this point, go back and read it again.

Think that's over-optimistic do you?

Lets take a look at how the cryptos that have low rewards/block are doing right now, shall we?

NAME              REWARD            PRICE

MinCoin                 2                   .0004
AnonCoin              5                   .00235
RonPaulCoin          1                   .00091
Diamond               1                   .00019

I honestly believe that these are the kind of levels we should by flying at in a month or two.

If I'm out by a factor of 100, that is still .00002 or, 2,000 satoshi each.

Still wanna sell when it hits 6?

Not me, baby!

Heh while that insane level of optimism is nice to think about.  If thats what it took to make it profitable to mine then it just wont reach it.  I really doubt theres any way that price could be achieved.  People would be selling long before that and raking in huge profits.  

At that price my 3.5m zeit would be worth 5-6 million dollars.  Nice to think but i dont think so

I do believe the price will rise a lot, which is why ive been gathering everything i can and still am.  Just not that

[Bluemustang]

Whats the deal with the block explorer?  Its dropping off too often.  With more and more recognition we're getting we need to maintain stability and reliability.

[bcajes]

Additional -

After week 6, the reward is 1 Z/block, the blocktime is app. 30s so the total Zeit/day is 2*60*24 = 2,880

Thus your reward will be 2,880 / network hashrate * your hashrate per day.

The current net rate is 1.16 Gh/s so if you have 1.45 Mh/s (I do) that's 2,880/1,160,000,000*1,450,000 = 3.6 Zeit/day

Compare that with what you get from minting!

That's the bit I was trying to work out, how much you'd get from mining rather than minting. Thanks for the maths!

So If I left 1MH/s mining Zeit with the current 1.16GH/s network hashrate I'd be 2,880/1,160,000,000*1,000,000 = 2.5 Zeit/day?

But I'm going to guess the network hashrate will drop to something much smaller than 1.16GH/s won't it?

Yes, but even if you are the only one mining ZEIT, then you only get 2,880 ZEIT per day. I think you would be better off mining something else then and buying into ZEIT.

No doubt it would be better to mine something else, but do you not need some network has power? I know I'd lose out mining Zeit, but if you need some net hashpower then some people need to aim a miner at it just to keep it going.

I think by people leaving their wallets open for minting, that's what keeps the network going.

Ahh right, I thought it had to have some network hashrate. Well that solves the question of whether or not to leave 1MH/s on it. Cheers everyone, much appreciated.

Now, I need to go buy some more Zeit...

what to sell...

Yeah, that's one of the key questions - what will the net hash be after week 6.

Here's an optimistic way of looking at it. Actually I still find the numbers pretty bloody scary & wonder if I'm missing something major by thinking that a lot of people are total ignorant morons thinking that planning on selling at 6, 12, 18 satoshi ... is a good idea.

IF the coin is to become an 'accepted' mainstream crypto, then it HAS TO BE around the same daily profitability as say litecoin, dogecoin etc to maintain a healthy hashrate.

That's currently between 3 - 5 GBP/day/1.5Mh/s for any of the 'top thirty' on CoinWarz.

Rounding up the numbers A LOT, that means the price of a single Zeit needs to be around ONE GBP

That's .0027 BTC each.

If you're not shitting yourself at this point, go back and read it again.

Think that's over-optimistic do you?

Lets take a look at how the cryptos that have low rewards/block are doing right now, shall we?

NAME              REWARD            PRICE

MinCoin                 2                   .0004
AnonCoin              5                   .00235
RonPaulCoin          1                   .00091
Diamond               1                   .00019

I honestly believe that these are the kind of levels we should by flying at in a month or two.

If I'm out by a factor of 100, that is still .00002 or, 2,000 satoshi each.

Still wanna sell when it hits 6?

Not me, baby!

Heh while that insane level of optimism is nice to think about.  If thats what it took to make it profitable to mine then it just wont reach it.  I really doubt theres any way that price could be achieved.  People would be selling long before that and raking in huge profits.  

At that price my 3.5m zeit would be worth 5-6 million dollars.  Nice to think but i dont think so

I do believe the price will rise a lot, which is why ive been gathering everything i can and still am.  Just not that

There is nothing wrong in dreaming big. I am sure BTC or LTC devs and early adapters did not think the price will be this high for their coins. I do understand the altcoin craziness lately. A few will survive, I am hopefull of a few coins to make it, Hopefully ZEIT is one of them.

[alekzander]

3.5 million zeit is worth 70btc at 2000sat...not what u said

[Bluemustang]

3.5 million zeit is worth 70btc at 2000sat...not what u said

Your point?  He first said .0027 which is 270,000 sat which is 9450 btc.  You didnt read the whole thing.

But hell, ill take 70 btc lol