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Question: ZEITCOIN
https://zeit-coin.net
https://zeit-knights.slack.com
https://t.me/zeit_coin

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Author Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [ULTRA LOW INFLATION] [MICRO-PAYMENTS]  (Read 1002982 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (3 posts by 3 users deleted.)
atronite
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April 22, 2014, 05:40:26 AM
 #8901

I can assure you guys that massive numbers of Zeitcoins are being exchanged at 5 and are not showing up on any ask walls anywhere. Hold the line, these guys will break.

I just wish some folks will actually start nibbling the ask at 6. I want my 150m zeit at 6 to sell so I can accumulate more at 5 before the next big pumpity pump.  Grin

IOW you're part of the problem. Cheesy In that case I hope your ask gets taken out on our way to 8/7 and you never get a chance to buy back in. Cheers.

lol That's less than 1.5btc profit after fees. Hardly a good incentive to suppress the price of you own investment. 150m Zeitcoin that won't be staking and adding to the money supply.

Here's an alternative. Take your 150m Zeitcoin and put it in your own wallet for 20ish days. When it stakes you'll have approximately 152,054,800 Zeitcoin. *When* the price moves up to 7/6 you could then sell all your Zeitcoin for approximately 9.12btc. If you bought at 5 then this is a higher payoff than buying at 5 selling at 6 and *hoping* to buy back at 5 again later. As a bonus you needn't leave your coins sitting on an exchange, which I think we all know is a very risky play. Also the price could go to 8/7 over those 20 days and you could do even better.

Hey! I'm not the problem. If nothing else I probably messed up some other whale's plan to sell high and buy back even lower at 4, given how there was over 20 BTC worth of sell pressure at 5 and I gobbled up a good portion of that. Tongue

The problem is all the small players dumping at 5, and people taking the risk of selling high and buy low hoping for more accumulation. But maybe there isn't more buy pressure at 6 because of all the sell pressure at that level anyways (creating the appearance of a ceiling).

But you do present a good alternative. If I still had a ton more zeit I wanted to accumulate, it would make sense for me to suppress the prices until I was done and even make a bit of profit on the side while I'm at it. So since I'm done accumulating for now, you're right that I should take it off the exchange and wait it out for next 20 days until prices go higher.

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solarion
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April 22, 2014, 05:51:39 AM
 #8902

A 22btc ask wall is child's play for even a whale calf. The whale takes out a couple ask walls and puts up a healthy bid wall at 6 or 7 and a lot of silly amateur gordon gecko wannabes are going to be sad. Maybe the exchange gets hacked or closes up shop and just decides to keep everyone's coins...think we've all seen that play out a couple times now.
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April 22, 2014, 07:06:00 AM
Last edit: April 22, 2014, 07:22:04 AM by atronite
 #8903

A 22btc ask wall is child's play for even a whale calf. The whale takes out a couple ask walls and puts up a healthy bid wall at 6 or 7 and a lot of silly amateur gordon gecko wannabes are going to be sad. Maybe the exchange gets hacked or closes up shop and just decides to keep everyone's coins...think we've all seen that play out a couple times now.

I think we will only see that when sell side pressure at 5 subsides and volume goes down. If I had hundreds of BTC and was in the stage of accumulation, that's what I would do. At the moment, plenty of sell side pressure at 5, but not very much at 4. So that's the perfect place to accumulate right now if you had a lot of BTC.

But yea, exchange shutdown risk (also known is counter-party risk), is definitely very real. If regulation was ever needed, it would be for how exchanges are run. Unfortunately this regulation would come at the price of governments using these exchanges to try to catch crooks, which means they would demand our ID information, which then puts the consumer at risk of identity theft. Then it's only a matter of time before the American IRS bursts in demanding the information in order to go after tax evaders, and of course this can be done in a way that selectively targets people of one political persuasion or another depending on who's in power. =/

I want to be able to comply with the law, but I want it to be easy and cost effective to comply with the law too!! Sadly it's the 2nd part that regulators never get. Or perhaps they do, and they make it over complicated and expensive so that the legal firm these regulators happen to own gets extra income on the side. I mean what better legal firm to go with than the one that actually wrote the rules, right?

*face palm*

For all the BS and artificial costs this society imposes on us, the TZM as envisioned by the movies only moves the regulatory powers from bureaucratic types to the computer programmers. A improvement over the previous system maybe, but still the potential that someone will abuse their power eventually. Thus the need to decentralize, decentralize, decentralize, and prevent any small group of people from ever attaining too much power. =/

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April 22, 2014, 08:13:53 AM
 #8904

Is there a reason why Zeit is not on the bter.com? I just saw that they added 14 days old CommunityCoin. Zeit needs all buyers on the earth!
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April 22, 2014, 09:08:49 AM
 #8905

Is there a reason why Zeit is not on the bter.com? I just saw that they added 14 days old CommunityCoin. Zeit needs all buyers on the earth!

At this point we don't need to be listed on any more exchanges. If we're big enough, we'll be listed on our own merits soon enough. What we have right now for mintpal is ideal because instead of trading activity scattered between several exchanges, it's concentrated on just one.

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April 22, 2014, 10:47:21 AM
 #8906

A 22btc ask wall is child's play for even a whale calf. The whale takes out a couple ask walls and puts up a healthy bid wall at 6 or 7 and a lot of silly amateur gordon gecko wannabes are going to be sad. Maybe the exchange gets hacked or closes up shop and just decides to keep everyone's coins...think we've all seen that play out a couple times now.

If you want to see some powerplay take a look at Blackcoin right now. 40BTC walls are trown up and down, it's better than all those soaps on tv.
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April 22, 2014, 11:54:26 AM
 #8907

Is there a reason why Zeit is not on the bter.com? I just saw that they added 14 days old CommunityCoin. Zeit needs all buyers on the earth!

At this point we don't need to be listed on any more exchanges. If we're big enough, we'll be listed on our own merits soon enough. What we have right now for mintpal is ideal because instead of trading activity scattered between several exchanges, it's concentrated on just one.

It is good idea however bter is chinese exchange and there could be big % of people that don't care about mintpal. Hard to say what is right.
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April 22, 2014, 12:11:39 PM
 #8908

what is the big deal about black coin? what is their edge over other coins? why such a huge demand. kicking myself that i didnt actually mine it when i first saw it come into existence  Undecided haha
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April 22, 2014, 01:11:30 PM
 #8909

what is their edge over other coins?

Less people that sell every time the price goes up one satoshi.
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April 22, 2014, 01:39:52 PM
 #8910

These would be nice enhancements for our wallet too.
From Mintcoin  https://bitcointalk.org/index.php?topic=450381.14020
I just made few fixes and compiled windows wallet for us as well. Its version is set to 1.8.1, so you can tell the difference from 1.8.0

New wallet properly sorts all transactions by date as a default. It used to sort them by status. That is why orphan blocks always appeared on top.
New wallet has option to go to Mintcoin homepage under Help menu. Now you can quickly reach Mintcoin FAQ  Cheesy .

They are close on what looks like a well designed and secure PoS Android wallet, I am watching closely and have been doing my own android development, so who knows Wink

♝ Pandacoin    ♝ Earn Pandacoin ♝ Irc channel #DigitalPandacoin with tipbot
✬ Earn 2.5% Annual Interest ✬ Seeking Dev Team Help ✬ Blazing Fast Multi Mode Wallet ✬ Android Wallet ✬ No premine or IPO ✬
☆☆☆☆☆☆☆ PANDACOINPND (´(ェ)`) Digital Pandacoin (´(ェ)`) PANDACOINPND ☆☆☆☆☆☆☆
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April 22, 2014, 06:09:09 PM
Last edit: April 22, 2014, 06:19:19 PM by solarion
 #8911

Ran some more numbers. I know everyone cares. Tongue

My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.

 
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April 22, 2014, 06:17:27 PM
 #8912

what is the big deal about black coin? what is their edge over other coins? why such a huge demand. kicking myself that i didnt actually mine it when i first saw it come into existence  Undecided haha

1. Multipool + promise of pumping it to 10 000 satoshi
2. After successful multpool pump - Fontas promise of pumping it to 100 000 sat

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April 22, 2014, 06:22:25 PM
 #8913

Ran some more numbers. I know everyone cares. Tongue

My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.

I like the way you work the numbers, dude.

- just a shame so many morons are treating it like a PoW coin Sad

The song remains the same though ...

BUY THEM WHILE YOU CAN, KEEP THEM IN YOUR WALLET!

Member of the UK Digital Currency Association * Bitrated user: LionOfNarnia. * Member of the ZeitKnights * Member of the Bytecent Community Team

"I don't always kill & eat things - but when I do it's because I'm a Lion & they were things"
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April 22, 2014, 06:28:38 PM
 #8914

Ran some more numbers. I know everyone cares. Tongue

My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.

I like the way you work the numbers, dude.

- just a shame so many morons are treating it like a PoW coin Sad

The song remains the same though ...

BUY THEM WHILE YOU CAN, KEEP THEM IN YOUR WALLET!

Thanks. The fact that it's not being mined means the supply is tightening daily and all the coins sitting on exchanges are also not adding to the money supply. Dumping at these prices seems like a very bad idea.
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April 22, 2014, 06:53:59 PM
 #8915

what is the big deal about black coin? what is their edge over other coins? why such a huge demand. kicking myself that i didnt actually mine it when i first saw it come into existence  Undecided haha

1. Multipool + promise of pumping it to 10 000 satoshi
2. After successful multpool pump - Fontas promise of pumping it to 100 000 sat

fontas? hes still alive? haha
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April 22, 2014, 06:55:46 PM
 #8916

Ran some more numbers. I know everyone cares. Tongue

My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.

 

this is confusing as f---....... yield/day/satoshi? can we market this somehow? zeitcoin is falling into the crowd of 100 blackcoin clones and unfortunately zeit looks the same at first glance
LionOfNarnia
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April 22, 2014, 07:09:47 PM
 #8917

Ran some more numbers. I know everyone cares. Tongue

My own actual minting results averaged out indicate that zeitcoin(IN YOUR WALLET) yields 1.372% every 20 days(without compounding). This is equal to 0.06858% daily. Obviously this is far less than some other PoS coins pay, but here's where it gets interesting. If you compute yield/day/satoshi then Zeitcoin is the single best PoS coin there is. At a cost of 5 satoshis Zeitcoin's yield/day/satoshi = 0.01371652% which is insane. For comparison purposes HBN @ 29000 is equal to 0.00000976%/day/satoshi even though it pays 100% yearly.

I like the way you work the numbers, dude.

- just a shame so many morons are treating it like a PoW coin Sad

The song remains the same though ...

BUY THEM WHILE YOU CAN, KEEP THEM IN YOUR WALLET!

Thanks. The fact that it's not being mined means the supply is tightening daily and all the coins sitting on exchanges are also not adding to the money supply. Dumping at these prices seems like a very bad idea.

REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.

*Lion dances round room*

Member of the UK Digital Currency Association * Bitrated user: LionOfNarnia. * Member of the ZeitKnights * Member of the Bytecent Community Team

"I don't always kill & eat things - but when I do it's because I'm a Lion & they were things"
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April 22, 2014, 08:10:11 PM
 #8918

I had a load of small transactions from a pool it was 5000 every few hours  and the wallet seems to be working through them 1 at a time for minting
is that how it works coz nothing has minted for 2 days and I have about 10 transactions over 20 days old now   or will it group these transactions together and mint the total of the qualifying coins
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April 22, 2014, 08:24:44 PM
 #8919



REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.

*Lion dances round room*

Oh yeah? Well, I just minted 300!








No, not 300K. Just 300.  Cry

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April 22, 2014, 08:37:45 PM
 #8920



REALLY happy right now - nearly 210,000 minted in the last hour with another 138,000 more due before bedtime.

*Lion dances round room*

Oh yeah? Well, I just minted 300!

No, not 300K. Just 300.  Cry

Dude, smallest I've had so far is 2.516438

Beat that!

For anyone who has read the 'coin control' article on the HoboNickel Wiki & wondered what 'magic number' is for US,

My best 'estimate' of the biggest sized block that should be made for Zeit is

5,128,220

Because the 69K mintings today are from transactions that were originally 10 Million but it 'splits' them into ^ for 'Stake' purposes.

I've minted over 420,000 so far today (my 2nd biggest minting day of the Zeit-Month) with a few more to come.

... and that's my 2nd minting from those deposits Grin

BOLLOX to the faint-hearts selling cheap AND the morons with billions in the sell-walls!

WE will be laffin' our bellies sore this time next year

Member of the UK Digital Currency Association * Bitrated user: LionOfNarnia. * Member of the ZeitKnights * Member of the Bytecent Community Team

"I don't always kill & eat things - but when I do it's because I'm a Lion & they were things"
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