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

[sdersdf2]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to hold it.

So this coin's approach is like BC, FAC - proof of stake and multipool that helps support the price?

[1713239821]

1713239821

[1713239821]

1713239821

[solarion]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to hold it.

So this coin's approach is like BC, FAC - proof of stake and multipool that helps support the price?

Correct, except Zeitcoin's stake isn't just a token stake, it's 25%. BC is 1% and FAC is 6%.

[flubber]

If it's like BC it can go somewhere, but all coins that try to do what BC does will not suceed as there are to many of them soon, hope for the best for ZEIT anyway. 

[bumblebee33]

If it's like BC it can go somewhere, but all coins that try to do what BC does will not suceed as there are to many of them soon, hope for the best for ZEIT anyway. 

But ZEIT is different than BC. ZEIT stakes 25% annually for the first year. BC only stakes symbolically compared to that. And it is not like ZEIT only came into excistance yesterday. We are here already from February 26, you just discovered it now. Well, better now than in half a year, when it will be much more expensive to join the ZEIT movement.

[_noname_]

There seem to be big whale sellers here:
https://www.mintpal.com/market/ZEIT/BTC
and are there other whales lurking, beyond the order book, waiting to dump their load on bagholders?

Looks like an interesting coin, but want to avoid pump-and-dump coins like the plague.

I am holding a very large quantity and intend to use that for community projects when price start rising and more people get on board.

But real success depends on developers instead of whales. If they work on this dedicatively, this coin can go far beyond making some people rich.

[sdersdf2]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to buy and hold.

What do you think their intent was? What are the size, mindset and plans of the big whale-owners - those are my big questions. Dont want exposure to a coin that behaves like a POW-like, whale-dump-susceptible coin.

[solarion]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to buy and hold.

What do you think their intent was? What are the size, mindset and plans of the big whale-owners - those are my big questions. Dont want exposure to a coin that behaves like a POW-like, whale-dump-susceptible coin.

Hard to say what motivates another. The result of their actions was accumulation and a breakup of the logjam at mintpal. You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark combined(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales. As Zeitcoin's value rises it will become less and less volatile over time.

[sdersdf2]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to buy and hold.

What do you think their intent was? What are the size, mindset and plans of the big whale-owners - those are my big questions. Dont want exposure to a coin that behaves like a POW-like, whale-dump-susceptible coin.

Hard to say what motivates another. The result of their actions was accumulation and a breakup of the logjam at mintpal. You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales.

That's exactly what I'm trying to get a sense of - going forward, is this coin going to behave like POS coins BlackCoin and Faircoin, or is it going to behave like another pump and dump POW coin?

[geyu]

this is a very good coin

[solarion]

That's exactly what I'm trying to get a sense of - going forward, is this coin going to behave like POS coins BlackCoin and Faircoin, or is it going to behave like another pump and dump POW coin?

You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark combined(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales. As Zeitcoin's value rises it will become less and less volatile over time.

[atronite]

That's exactly what I'm trying to get a sense of - going forward, is this coin going to behave like POS coins BlackCoin and Faircoin, or is it going to behave like another pump and dump POW coin?

You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark combined(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales. As Zeitcoin's value rises it will become less and less volatile over time.

So by that token, it would appear that there is 365x more zeit than there is of BC. By that token, in order for Zeit to experience a similar price rise up to BC's level, it would have to get to 136 satoshi in order for zeit and BC to have the same value.

That means that getting to 100 satoshi would put market value at 27200 BTC, or $11.4m assuming BTC price of $420. That would put it in 7-10th place in market cap depending on which site you use, which is pretty impressive.

1000 satoshi would put it in the top 3. It will take a lot just to put a $11.4m market cap on this coin, much less $114m, on a sustainable level.

[jonnysomething]

I lost 359,599 ZEIT on CryptoRush.in and never got an email back from zeitloss@zeit-coin.com regarding it.

[sdersdf2]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to hold it.

So this coin's approach is like BC, FAC - proof of stake and multipool that helps support the price?

Correct, except Zeitcoin's stake isn't just a token stake, it's 25%. BC is 1% and FAC is 6%.

Which means the stake provides more support for the price?

[stevegreer]

I lost 359,599 ZEIT on CryptoRush.in and never got an email back from zeitloss@zeit-coin.com regarding it.

That's because ZEITCOIN wasn't responsible for the loss, Cryptorush was. Man, where have you been? Now that the value is finally rising you are interested again? I thought we were past all of this CR crap by now! You need to keep pinging CR about your loss because they were responsible for it.

You know what scares me about these whales smashing all of these walls? They probably aren't the types who are even the least bit interested in POS of the coin. They want to make money quick and easy. Hey, I'm thrilled as hell to see the value finally going up, but I just hope it lasts and those same whales that smashed through the walls don't do a massive dump for profit which drives the value back down so they can buy low and start the circle all over again. Sorry for my pessimism.

As for me, I still plan to hold and continue to reap the benefits of POS.

[sdersdf2]

That's exactly what I'm trying to get a sense of - going forward, is this coin going to behave like POS coins BlackCoin and Faircoin, or is it going to behave like another pump and dump POW coin?

You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark combined(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales. As Zeitcoin's value rises it will become less and less volatile over time.

So by that token, it would appear that there is 365x more zeit than there is of BC. By that token, in order for Zeit to experience a similar price rise up to BC's level, it would have to get to 136 satoshi in order for zeit and BC to have the same value.

That means that getting to 100 satoshi would put market value at 27200 BTC, or $11.4m assuming BTC price of $420. That would put it in 7-10th place in market cap depending on which site you use, which is pretty impressive.

1000 satoshi would put it in the top 3. It will take a lot just to put a $11.4m market cap on this coin, much less $114m, on a sustainable level.

Meaning... unlikely?

[sdersdf2]

You know what scares me about these whales smashing all of these walls? They probably aren't the types who are even the least bit interested in POS of the coin. They want to make money quick and easy. Hey, I'm thrilled as hell to see the value finally going up, but I just hope it lasts and those same whales that smashed through the walls don't do a massive dump for profit which drives the value back down so they can buy low and start the circle all over again. Sorry for my pessimism.

Exactly the sort of thing I'm worried about. No more pump-and-dump coins for me.

[atronite]

The whale in question wiped out the entire ask side of the order book up to 16 and then dumped on the bid side down to 4. No idea why someone would do this, but they ended up with a whole lot more Zeitcoin coin than they started with. If the intent was to dump and smash the price, well then they failed miserably.

Drk doesn't pay a stake every month so there's far less reason to hold it.

So this coin's approach is like BC, FAC - proof of stake and multipool that helps support the price?

Correct, except Zeitcoin's stake isn't just a token stake, it's 25%. BC is 1% and FAC is 6%.

Which means the stake provides more support for the price?

Something like that. It provides an incentive for folks to keep Zeit off the exchanges and in their wallets, which creates a far greater level of scarcity in the exchanges than would otherwise be possible. Yet, the coin has a big enough supply that it would be capable of world wide adoption without each individual unit becoming too incredibly expensive. People are kind of silly in that they would rather own 1000 of a monetary unit than .0001 of that same unit, even if they have the same purchasing power. In that sense, zeit plays into that psychology. But the practical value is that a .1 zeit cost of transaction is SOOO much cheaper than .0002 bitcoin, which effectively puts a 5-10 cent transaction fee at current prices (as opposed to a tiny fraction of a penny for zeit).   

[solarion]

That's exactly what I'm trying to get a sense of - going forward, is this coin going to behave like POS coins BlackCoin and Faircoin, or is it going to behave like another pump and dump POW coin?

You have to understand this coin isn't built like BC and Dark. The current Zeitcoin money supply is 27,203,668,083 which is many many times the supply of BC and Dark combined(74.4m & 3.7m). Coins with tiny supply are easily pushed around by whales. As Zeitcoin's value rises it will become less and less volatile over time.

So by that token, it would appear that there is 365x more zeit than there is of BC. By that token, in order for Zeit to experience a similar price rise up to BC's level, it would have to get to 136 satoshi in order for zeit and BC to have the same value.

That means that getting to 100 satoshi would put market value at 27200 BTC, or $11.4m assuming BTC price of $420. That would put it in 7-10th place in market cap depending on which site you use, which is pretty impressive.

1000 satoshi would put it in the top 3. It will take a lot just to put a $11.4m market cap on this coin, much less $114m, on a sustainable level.

meh. Give it a year of fiat inflation and 11.4m or 114m will seem that much more attainable. I don't believe blackcoin's meteoric rise is based on fundamentals. Nor do I believe it's current market cap is either justifiable or sustainable. Expecting Zeitcoin exchange rates to soar to the moon overnight is akin to expecting black's stake payout to spontaneously multiply itself by 25.

[Woland1987]

So. Developed of first auction with zeit cryptocurrency started!

We very hope for the help and support...

Theme on official zeit forum - http://forum.zeit-coin.com/viewtopic.php?f=27&t=115
Site - http://cryptobid.org

http://s28.postimg.org/kn4h0o9xp/zeit.png

[jommy99]

Another interesting new exchange for Zeitcoin buying / trading with a nice interface https://xnigma.com/markets/view/70
Oh and lets vote for ZEIT at Swisscex one of my personal favorite exchanges   https://www.swisscex.com/voting