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

[stevegreer]

I would love to know specifically what the long term plans are.  I'm sure everyone else would too.  Right now it seems like Zeit is being propped up by one guy here with a lot of money who is either very concerned about his investment or is pushing the price down to pick up cheap coin so he can eventually pump it up.  This guy obviously has money so I'm sure he's not going to squander it, so I'm holding for the pump.

I understand and appreciate your concern. I get the sense that you are treating this like an investment, which is good, and are expressing concern for your investment. So if you want to know what the long term plans are then I urge you to visit
forum.zeit-coin.com and see what the folks there have to say. It is unfortunate, but because this thread quickly became filled up with everything from "where's my bounty, why haven't I got my bounty?" to "this is a scam coin" to "why am I not getting payouts every second of every day from the multipool?" to having to explain how POS works on pretty much every page that it became impossible to filter through all that crap in 400+ pages of this thread to see the posts where important information was discussed.

[1715160983]

1715160983

[solarion]

@solarion
Just to make my point clear. I am not implying that the PoS model is making the price drop. What I am saying is that PoS model does not provide you with any kind of additional protection over non-PoS coins, if the price drops a lot due to the loss of interest. 25% more on something close to zero, is still close to zero enough to make a coin disappear and to make your investment a failure. What I am criticising here is the belief that just the feature of a coin itself (PoS model in this case) can make a coin successful in the long run (whatever we understand by the long run). Actually, it is the strength of the community itself what makes any coin successful rather than any new feature or coin model, be it a very small number of overall coins, big number of coins, minting, you name it. It is exactly in this moment in which ZEIT community must stand and prove strong enough (bring news, create interest, etc.) to keep the coin alive on the market, e.g., see beginning of DOGE for a successful example. Just blind belief in PoS won't make it survive in the long run.

Understood. PoS is not a price action insurance policy, nor is it intended as such, it's a method of securing a blockchain. People that have no intention of selling and instead store their coins in their wallet are rewarded with freshly minted coins. I fall into that group.

PS.
There is a very good blog (in German) describing five phases of an altcoin life-cycle: Start- First Pump - First Dump - Dead Cat Bounce - De-listing.  Although it uses PoW coin as an example, I don't see why a PoS model should behave differently.

PoS coins are somewhat different in that there's incentive to keep your coins in your own wallet staking and keep them off exchanges where they are frequently stolen. Many PoS/PoS hybrid coins have shown tendencies toward long term price stability(hbn, tek, phs, mint). Zeitcoin is still very young, but I think it's quite likely to join that list over time.

[rbizz]

I would love to know specifically what the long term plans are.  I'm sure everyone else would too.  Right now it seems like Zeit is being propped up by one guy here with a lot of money who is either very concerned about his investment or is pushing the price down to pick up cheap coin so he can eventually pump it up.  This guy obviously has money so I'm sure he's not going to squander it, so I'm holding for the pump.

I understand and appreciate your concern. I get the sense that you are treating this like an investment, which is good, and are expressing concern for your investment. So if you want to know what the long term plans are then I urge you to visit
forum.zeit-coin.com and see what the folks there have to say. It is unfortunate, but because this thread quickly became filled up with everything from "where's my bounty, why haven't I got my bounty?" to "this is a scam coin" to "why am I not getting payouts every second of every day from the multipool?" to having to explain how POS works on pretty much every page that it became impossible to filter through all that crap in 400+ pages of this thread to see the posts where important information was discussed.

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

[uki]

@solarion
Just to make my point clear. I am not implying that the PoS model is making the price drop. What I am saying is that PoS model does not provide you with any kind of additional protection over non-PoS coins, if the price drops a lot due to the loss of interest. 25% more on something close to zero, is still close to zero enough to make a coin disappear and to make your investment a failure. What I am criticising here is the belief that just the feature of a coin itself (PoS model in this case) can make a coin successful in the long run (whatever we understand by the long run). Actually, it is the strength of the community itself what makes any coin successful rather than any new feature or coin model, be it a very small number of overall coins, big number of coins, minting, you name it. It is exactly in this moment in which ZEIT community must stand and prove strong enough (bring news, create interest, etc.) to keep the coin alive on the market, e.g., see beginning of DOGE for a successful example. Just blind belief in PoS won't make it survive in the long run.

Understood. PoS is not a price action insurance policy, nor is it intended as such, it's a method of securing a blockchain. People that have no intention of selling and instead store their coins in their wallet are rewarded with freshly minted coins. I fall into that group.

PS.
There is a very good blog (in German) describing five phases of an altcoin life-cycle: Start- First Pump - First Dump - Dead Cat Bounce - De-listing.  Although it uses PoW coin as an example, I don't see why a PoS model should behave differently.

PoS coins are somewhat different in that there's incentive to keep your coins in your own wallet staking and keep them off exchanges where they are frequently stolen. Many PoS/PoS hybrid coins have shown tendencies toward long term price stability(hbn, tek, phs, mint). Zeitcoin is still very young, but I think it's quite likely to join that list over time.

Having incentive to keep your coins in your wallet does not yet guarantee the rise of the prices - you need the liquidity.
Without liquidity, even the most innovative coin features you could think of won't bring much, you simply won't get enough time to demonstrate the coin can work.  
In the end of the day, exchanges must earn their fees, if not the coin is de-listed.
So I believe it is a combination of coins features and liquidity that makes a coin successful.
ZEIT is a relatively young coin, that is right,  but it is now time to demonstrate it can have a sustainable liquidity for a longer period.
And for that  you need this proof of community strength that will create interest in the coin, I was writing about earlier.
So for me a valid question for today is, how apart from the PoS feature can ZEIT attract the liquidity?
Being just a clone of HBN, TEK, MINT (by that I mean being another PoS coin) does not increase your chance for the success, especially if you come on the market after these coins. If in the long term run there will be just a handful of altcoins (out of hundreds existing today) how ZEIT is gonna make it there?

PS. Just a food for thought, do you believe that a coin that is completely taken of of the exchanges would be able to survive in the long term?

[CapSER2.0]

I think there is no chance of new pump while all that is seen are huge walls of sale and price sunk to 1 satoshi,
and with large chanses the closure of ZEIT market by reaching the previous step to hell...

If the community does nothing (Except for long term stake), this will end very badly very soon!

[stevegreer]

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

I completely agree with you. There needs to continue to be posts in this thread that speaks about Zeit from more than a monetary standpoint. I responded here a few days ago and spoke about some of the things that the Zeitcoin community is wanting to do or have already begun planning and implementing for the coin, but, like I mentioned previously, that post quickly got buried under tons of other posts completely off topic. That is a constant problem here with many other coin's thread as well. That was the reasoning behind creating the zeit forum. Much harder to go off topic there.

[solarion]

@solarion
Just to make my point clear. I am not implying that the PoS model is making the price drop. What I am saying is that PoS model does not provide you with any kind of additional protection over non-PoS coins, if the price drops a lot due to the loss of interest. 25% more on something close to zero, is still close to zero enough to make a coin disappear and to make your investment a failure. What I am criticising here is the belief that just the feature of a coin itself (PoS model in this case) can make a coin successful in the long run (whatever we understand by the long run). Actually, it is the strength of the community itself what makes any coin successful rather than any new feature or coin model, be it a very small number of overall coins, big number of coins, minting, you name it. It is exactly in this moment in which ZEIT community must stand and prove strong enough (bring news, create interest, etc.) to keep the coin alive on the market, e.g., see beginning of DOGE for a successful example. Just blind belief in PoS won't make it survive in the long run.

Understood. PoS is not a price action insurance policy, nor is it intended as such, it's a method of securing a blockchain. People that have no intention of selling and instead store their coins in their wallet are rewarded with freshly minted coins. I fall into that group.

PS.
There is a very good blog (in German) describing five phases of an altcoin life-cycle: Start- First Pump - First Dump - Dead Cat Bounce - De-listing.  Although it uses PoW coin as an example, I don't see why a PoS model should behave differently.

PoS coins are somewhat different in that there's incentive to keep your coins in your own wallet staking and keep them off exchanges where they are frequently stolen. Many PoS/PoS hybrid coins have shown tendencies toward long term price stability(hbn, tek, phs, mint). Zeitcoin is still very young, but I think it's quite likely to join that list over time.

Having incentive to keep your coins in your wallet does not yet guarantee the rise of the prices - you need the liquidity.
Without liquidity, even the most innovative coin features you could think of won't bring much, you simply won't get enough time to demonstrate the coin can work.  
In the end of the day, exchanges must earn their fees, if not the coin is de-listed.
So I believe it is a combination of coins features and liquidity that makes a coin successful.
ZEIT is a relatively young coin, that is right,  but it is now time to demonstrate it can have a sustainable liquidity for a longer period.
And for that  you need this proof of community strength that will create interest in the coin, I was writing about earlier.
So for me a valid question for today is, how apart from the PoS feature can ZEIT attract the liquidity?
Being just a clone of HBN, TEK, MINT (by that I mean being another PoS coin) does not increase your chance for the success, especially if you come on the market after these coins.

There are no guarantees and there's plenty of liquidity. There are roughly 2b(7.3% of float) Zeitcoin for sale between 2 & 10 on mintpal alone and there are bids for over 1.8 billion on the same exchange. People can get in and out of positions readily.

[uki]

There are no guarantees and there's plenty of liquidity. There are roughly 2b(7.3% of float) Zeitcoin for sale between 2 & 10 on mintpal alone and there are bids for over 1.8 billion on the same exchange. People can get in and out of positions readily.

Until your order for 1B ZEIT that was put today, the liquidity on the bid side was vanishing and that is exactly where my concerns came from.
Just being afraid of "been there and seen it before" with, e.g., CTM.


Therefore, I would love to keep the discussion in this thread spot on:

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

I completely agree with you. There needs to continue to be posts in this thread that speaks about Zeit from more than a monetary standpoint. I responded here a few days ago and spoke about some of the things that the Zeitcoin community is wanting to do or have already begun planning and implementing for the coin, but, like I mentioned previously, that post quickly got buried under tons of other posts completely off topic. That is a constant problem here with many other coin's thread as well. That was the reasoning behind creating the zeit forum. Much harder to go off topic there.

and please excuse me for such a bold question, but what are exactly the things that the Zeitcoin community is wanting to do in the nearest future to get the things going?

[CapSER2.0]

There are no guarantees and there's plenty of liquidity. There are roughly 2b(7.3% of float) Zeitcoin for sale between 2 & 10 on mintpal alone and there are bids for over 1.8 billion on the same exchange. People can get in and out of positions readily.

Until your order for 1B ZEIT that was put today, the liquidity on the bid side was vanishing and that is exactly where my concerns came from.
Just being afraid of "been there and seen it before" with, e.g., CTM.


Therefore, I would love to keep the discussion in this thread spot on:

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

I completely agree with you. There needs to continue to be posts in this thread that speaks about Zeit from more than a monetary standpoint. I responded here a few days ago and spoke about some of the things that the Zeitcoin community is wanting to do or have already begun planning and implementing for the coin, but, like I mentioned previously, that post quickly got buried under tons of other posts completely off topic. That is a constant problem here with many other coin's thread as well. That was the reasoning behind creating the zeit forum. Much harder to go off topic there.

and please excuse me for such a bold question, but what are exactly the things that the Zeitcoin community is wanting to do in the nearest future to get the things going?

Will not answer because they are very busy ZEIT staking to long term...

[Taburnak]

If we continue this way we run very high risk that MintPal closes us the ZEIT market anytime! :S 

they might just open it as a ltc market


anyway its on cryptsy so not to worry too much

[Taburnak]

I havent heard any replies about not being able to sync on client. its been over a day since i updated and i cannot sync even though i have connections

[uki]

I havent heard any replies about not being able to sync on client. its been over a day since i updated and i cannot sync even though i have connections

no problems here.

[LionOfNarnia]

There are no guarantees and there's plenty of liquidity. There are roughly 2b(7.3% of float) Zeitcoin for sale between 2 & 10 on mintpal alone and there are bids for over 1.8 billion on the same exchange. People can get in and out of positions readily.

Until your order for 1B ZEIT that was put today, the liquidity on the bid side was vanishing and that is exactly where my concerns came from.
Just being afraid of "been there and seen it before" with, e.g., CTM.


Therefore, I would love to keep the discussion in this thread spot on:

The dialogue in this forum has a large effect on the price and the desire for people to buy into this coin, something that is greatly needed right now.  If all the good news is in the zeit forum, perhaps it is time for some x-posts.

I completely agree with you. There needs to continue to be posts in this thread that speaks about Zeit from more than a monetary standpoint. I responded here a few days ago and spoke about some of the things that the Zeitcoin community is wanting to do or have already begun planning and implementing for the coin, but, like I mentioned previously, that post quickly got buried under tons of other posts completely off topic. That is a constant problem here with many other coin's thread as well. That was the reasoning behind creating the zeit forum. Much harder to go off topic there.

and please excuse me for such a bold question, but what are exactly the things that the Zeitcoin community is wanting to do in the nearest future to get the things going?

Hi guys

Good convo going on while I've been busy re-jigging my miners for maximum efficiency.

Just to keep you all 'in the loop' as it were, one of our first major innovations is already in the closed-beta stage & will ROCK YOUR WORLD when online...

It's a ZeitCoin-biased version of 'fleabay' being developed by a couple of guys who met up & started co-operating thanks to the forum.

Here's a sneaky screenie of my putative shopping cart....



*Oh! if only I could buy those things at those prices right fucking now!*

Other things on the near-horizon include:-

Machine-stitched ZeitCoin patches in at least 3 versions  PATCHES THREAD

Vinyl ZeitCoin stickers, both sticky-down (for surfaces) & sticky-up (for car, shop & home windows)   STICKERS THREAD

A fancy new block explorer with oodles of useful stats features

& plenty more good stuff in the pipeline - re-launching our own multi-pool with SHA-256 support is the big one I suppose.

NO-ONE is just sitting back & waiting for things to happen ...

EXCEPT for the whiners here who want everything done for them & won't even get into a convo about the 'way forwards'.

[solarion]

I havent heard any replies about not being able to sync on client. its been over a day since i updated and i cannot sync even though i have connections

There have been numerous replies to those having this issue, both here and on the zeit forums. Backup your wallet and delete your blockchain files. Ray suggested a couple pages back that their could be issues with case sensitivity on some OSs. I've never had any problem syncing the Zeitcoin wallet, so I'm unable to offer any first hand experience.

[CapSER2.0]

Do long-term stake when perhaps the BTC own of here in a few years has a value only a few cents and all altcoin disappear almost completely, i think is nonsense! An absurd watering!

We need to take a more active plan now! Because otherwise we will lose very ugly.
Even we that have mined and entrusted in this coin from the start!

[uki]

Hi guys

Good convo going on while I've been busy re-jigging my miners for maximum efficiency.

Just to keep you all 'in the loop' as it were, one of our first major innovations is already in the closed-beta stage & will ROCK YOUR WORLD when online...

It's a ZeitCoin-biased version of 'fleabay' being developed by a couple of guys who met up & started co-operating thanks to the forum.

Here's a sneaky screenie of my putative shopping cart....



*Oh! if only I could buy those things at those prices right fucking now!*

Other things on the near-horizon include:-

Machine-stitched ZeitCoin patches in at least 3 versions  PATCHES THREAD

Vinyl ZeitCoin stickers, both sticky-down (for surfaces) & sticky-up (for car, shop & home windows)   STICKERS THREAD

A fancy new block explorer with oodles of useful stats features

& plenty more good stuff in the pipeline - re-launching our own multi-pool with SHA-256 support is the big one I suppose.

NO-ONE is just sitting back & waiting for things to happen ...

EXCEPT for the whiners here who want everything done for them & won't even get into a convo about the 'way forwards'.

Hi Lion,
thanks for a prompt reply. I actually browsed a bit on the zeit-coin.com forum after asking my question and found all info provided by you in the scratch-pad section (under shaping the future). My 2 cents, for what is worth, maybe some additional info about current ideas and mini-projects that were launched could be released weekly on twitter and facebook to faster reach more people. Whereas I like browsing forums, tweeting not only technical must-do things would quickly reach 2k+ people. I saw in the comments that you currently look for a 'press officer' that would be responsible for providing such info - this could be a nice addition to the to-do list. You could also ask tweeter followers for an immediate feedback on the ideas.

[Rent_a_Ray]

I havent heard any replies about not being able to sync on client. its been over a day since i updated and i cannot sync even though i have connections

First try solarion's tip.
If you have the same issue after the cleanup, give -repairwallet or -salvagewallet a try.

And never forget to safe the wallet.dat...

[CapSER2.0]

If we continue this way we run very high risk that MintPal closes us the ZEIT market anytime! :S 

they might just open it as a ltc market

anyway its on cryptsy so not to worry too much

I remember that It cost us much effort (Even various BTC) to get are listed in MintPal...

[Ragz]

so sad that PND is currently worth more than Zeit

[CapSER2.0]

Do not forget, that even at this very moment are designing and developing digital currencies with even better features that Bitcoin, and at a time (Nobody knows when) will replace the BTC, and BTC will be worth cents...

Nobody knows what can happen in the long term!!!