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

[Rent_a_Ray]

There was too much of a buzz about Zeit, it was bound to crash.

Lots of talk about an ordinary coin usually equals shills and pre-dump rhetoric.

The PoS didn't work either, at least not for me, and that was despite opening the wallet every day.

Buy Dimecoin, it's small, not hyped, cheap, and has a future based on cautious moves and committed support from a minority.

read the Zeit rhetoric earlier in the thread ... so very typical of a coin that is floating on hot air.

In saying that, it had nice design.

Talk about being a shill. You come in here and bash ZEIT while promoting DIME, which you also have linked in your signature as proof that you are a talking piece for that coin. And you have no room to say anything about pre-dump rhetoric when your coin's dev dumped his premine and abandoned the coin. Our dev left for personal reasons, but he never dumped the premine. He used it for giveaways and giveaways.

+1 Steve.
We have the power to delete the troll's posts,
but we are community. Everybody should have an opinion, but claiming that Zeit POS is not working makes me facepalming.

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[rikkejohn]

Well, all I can say is that the Zeitcoin POS wallet has worked well for me. Two substantial mintings so far, with more due later this month and early next. Lots of coins simply for opening and unlocking my wallet every now and then. You did unlock yours to allow minting didn't you?

Yes of course I unlocked my wallet, I ended up with greyed out unconfirmed payouts.

But I sold after that anyway, maybe it would have fixed itself.

[rikkejohn]

There was too much of a buzz about Zeit, it was bound to crash.

Lots of talk about an ordinary coin usually equals shills and pre-dump rhetoric.

The PoS didn't work either, at least not for me, and that was despite opening the wallet every day.

Buy Dimecoin, it's small, not hyped, cheap, and has a future based on cautious moves and committed support from a minority.

read the Zeit rhetoric earlier in the thread ... so very typical of a coin that is floating on hot air.

In saying that, it had nice design.

Talk about being a shill. You come in here and bash ZEIT while promoting DIME, which you also have linked in your signature as proof that you are a talking piece for that coin. And you have no room to say anything about pre-dump rhetoric when your coin's dev dumped his premine and abandoned the coin. Our dev left for personal reasons, but he never dumped the premine. He used it for giveaways and giveaways.

Yes, I know he dumped his premine. Dimecoin had to struggle on from that point. We don't even know his identity.

I'm not a shill for dimecoin, I just recommended it based on price and it having a small following.

Zeit was always going run into problems, coming at the time it did (after Mint). Fair enough, it didn't help with so many coins getting stolen from Cryptorush and then Coinex.

[BainbridgeJ]

There was too much of a buzz about Zeit, it was bound to crash.

Lots of talk about an ordinary coin usually equals shills and pre-dump rhetoric.

The PoS didn't work either, at least not for me, and that was despite opening the wallet every day.

Buy Dimecoin, it's small, not hyped, cheap, and has a future based on cautious moves and committed support from a minority.

read the Zeit rhetoric earlier in the thread ... so very typical of a coin that is floating on hot air.

In saying that, it had nice design.

Talk about being a shill. You come in here and bash ZEIT while promoting DIME, which you also have linked in your signature as proof that you are a talking piece for that coin. And you have no room to say anything about pre-dump rhetoric when your coin's dev dumped his premine and abandoned the coin. Our dev left for personal reasons, but he never dumped the premine. He used it for giveaways and giveaways.

+1 Steve.
We have the power to delete the troll's posts,
but we are community. Everybody should have an opinion, but claiming that Zeit POS is not working makes me facepalming.

Well, all I can say is that the Zeitcoin POS wallet has worked well for me. Two substantial mintings so far, with more due later this month and early next. Lots of coins simply for opening and unlocking my wallet every now and then. You did unlock yours to allow minting didn't you?

Yes of course I unlocked my wallet, I ended up with greyed out unconfirmed payouts.

But I sold after that anyway, maybe it would have fixed itself.

What you have described is a perfectly normal occurrence that happens occasionally to all POS coins. It simply means that another node has generated a block within a few seconds of yours. What happens then is that the transaction will not be accepted and will become greyed out. Others will then be generated shortly afterwards until one connects with your wallet. Within a short period of minting you will eventually receive a block that will confirm your POS interest. The Proof of Stake amount will be isolated from your balance and after maturing for 50 blocks, your original stake amount will appear back in your balance along with the amount of coins due to you in interest. The unaccepted block/s will become greyed out and appear in your Transactions list together with the accepted block. Reference to them is retained as a matter of record.

Greyed out transactions did occur during my second minting, but within a few minutes other blocks were generated until one became accepted. Within 30 minutes of minting my interest coins were happily residing in my wallet. Your assumption that "... maybe it would have fixed itself" is correct, but I suspect you knew that already. That's how POS coins do work. I thought it odd that you chose to try to criticise Zeitcoin on its wallet, which is one of its strengths - and a credit to Zeitcoin's current Development Team.

Regarding hype, I disagree with you. Zeitcoin has not, to my knowledge, been overly hyped. Just the opposite and that was one of the reasons that attracted me to this coin in the first place. I made a comment to that effect in one of my earlier postings.

Your posting reveals your true intent - to lure Zeitcoin holders away to the coin that you are promoting. Your signature claims that Dimecoin is: "Revolutionary". "$$$$$$" signs follow seemingly promising riches as does the Dimecoin website. Revolutionary? Quite some hype for a coin that by its own admission was originally designed to be just another "pump and dump" coin. The promise of riches? - a rather extravagant claim I would think in the circumstances. So who is doing the hyping?

Dimecoin also proclaims that it "is closely related to Quark" and can be mined "using a CPU with a Quark type miner." I have a lot of respect for Quark. If Dimecoin is simply a copy of Quark then there might be legal problems ahead in that parts of Quark have been copyrighted. If the SHA-3 concoction chosen by Dimecoin veers away from Quark's e.g. in using the NSA developed and controversial Secp256r1 curve, as other coins have done, then there might be a gaping backdoor in the Dimecoin wallet - and who wants an exploitable backdoor in their wallet? http://chrispacia.wordpress.com/2013/10/30/nsa-backdoors-and-bitcoin/ Dimecoin do mention the U.S. Government’s National Institute of Standards and Technology (NIST) involvement in their coin. Quark, I believe have gotten around this problem by using a different sep curve in light of NSA revelations.

Finally, there is a body of opinion growing that Proof of Stake (POS) is the way forward in the cryptocurrency world. Proof of Work (POW) mining in comparison is expensive. It is also becoming riskier. Some POW based coins seem to be complacent about possible attack and the loss of control. If it is ever referred to at all, it is commonly called 'the 51% attack' when in actual fact these type of attacks can be achieved at very low percentages. The maximum security from a mining attack ever achievable is less than 33%: Ittay Eyal, Emin Gun Sirer [2013] (arXiv:1311.0243 [cs.CR]) http://arxiv.org/abs/1311.0243 for the summarised version.

To underline this, there is a serious move to try to hard fork Bitcoin into becoming a POS coin: https://bitcointalk.org/index.php?topic=584719.0

Rather than getting too bogged down, it boils down to this: I believe that your criticism of Zeitcoin is unjustified and ill-informed, if not purposefully mischievous. People in glass houses should not throw stones.

[dE_logics]

Howto kill this coin

https://bitcointalk.org/index.php?topic=604716

Others have posted more vulnerabilities (too many to patch).

[Rent_a_Ray]

Howto kill this coin

https://bitcointalk.org/index.php?topic=604716

Others have posted more vulnerabilities (too many to patch).

I know your article, thank you for sharing, again. Good Work.
I am sure, it's possible to kill every coin. Crypto world is in an early alpha state.
Nobody knows how many open source developers are paid by the NSA. (paranoid mode)
Have look at the OpenSSL code... It looks really confusing for a lot of good coders.

Others have posted more vulnerabilities (too many to patch).

Yes, but not all of the vulnerabilities are limited to POS coins, eh?
We are a 99,9% Mintcoin clone, Mintcoin is a PPC Clone.
When one coin dies, a lot of other coins will die...

It's a bad world and we need more people like you - more Crypto-Snowdens.  

It's not easy to kill a coin. Why? It is still alive.
If someone tries to kill ZEIT, we will start ZEIT 2.0. If the people trust in ZEIT i am expecting no problem to fork.

[brian_nguyen]

Feel like a winner. Someone dumped all 'em Zeit to fill my order. Took me a few times to withdraw them from MP @ 50 mils each. 

[Rent_a_Ray]

Feel like a winner. Someone dumped all 'em Zeit to fill my order. Took me a few times to withdraw them from MP @ 50 mils each. 

Like a boss. 

[ydrogios]

My wallet have a problem.Pop up a message that says error loading blkindex.dat.What i have to do to fix it

[brian_nguyen]

My wallet have a problem.Pop up a message that says error loading blkindex.dat.What i have to do to fix it

Do a Run and %appdata% and delete everything in that folder except wallet.dat and relaunch Zeit. It'll take a while but that should do it.

[podizzle]

1btc gets you 200M zeit 

[thsminer]

1btc gets you 200M zeit 

It's 300M already...

[LionOfNarnia]

I found this little gem today.....

(From this article on "The CoinFront")

Note to altcoin devs: Stop reading now if you don’t care if your coin is still around a year from now.

Stop reading if your primary goal is to make as many Bitcoins as you can for yourself. Stop reading if you spend more time figuring out how to manipulate the market than you spend figuring out how to encourage real-world use of your coin. Stop reading if you have no idea if your wallet will break if you fork it – and you don’t really care.

For the rest of you, read on. You don’t want your coin to fail – and it doesn’t need to. But you need to pay attention.

Imagine this. You’re a software developer. You found an open-source version of a popular software product, a mobile application that lets a user take pictures and share them. So you modify the code slightly, test it with a few friends, upload it to an online store and make a few announcements in forums and chat rooms. You tweet about it and manage to get your venture listed as a penny stock. There’s a quick run-up in the price of your stock. And then it crashes.

Why did it crash?

Well, you never did market research to find out if anyone wanted a new photo app with your features. Your hacked-together code has numerous bugs. You have no business experience, and no idea how to get financial backing for your company. And most of all, you decided to create a program that’s no different than many other established programs, and you have no plan for growing it.

That fictitious scenario is a perfect depiction of the altcoin environment today. And that’s why most, if not all, altcoins will fail.

Altcoin Development Lacks Rigor
I’m a software developer and always curious about how other developers do things.

When a new coin is released with an intriguing new feature, I start digging in the code.
And what do I usually see? Quite frankly, a patched together mess. I find code cut and pasted from other coins – without anyone even taking the time to rename things – which suggests sloppiness, but often foretells bugs.

A few weeks ago I looked into how one coin was adjusting some coin parameters. I found a variable called xcoin_adjustment, but further in the code, the same variable was referred to as ycoin_adjustment (insert the name of two similar coins).

That particular parameter adjustment will never work. And I find issues like this in almost every codebase I investigate. Coins that modify how transactions are sent and recorded have code that seems to drop off into space. Is the transaction recorded in the blockchain correctly? Will this lead to issues down the road? Who knows?

Serious developers – developers that want supportable, modifiable and extensible code – are rigorous in their work. Companies that hire these developers insist on this rigor – after all, the products they are selling must be solid. Why do we accept less in the cryptocurrency world?

Altcoins Need to Focus on the Market – And that Market is not Crypto
When a new coin is launched, ask anyone in crypto about it and they will tell you what algorithm is used, how many coins there will be, whether it’s a proof-of-work coin, or proof-of-stake, or a hybrid.

They may talk about a cool new wallet feature, or a faucet or dice game, or their fancy website or some mobile app they are developing to fund future projects.

All this is great. And the general public cares nothing about any of it.

The public doesn’t care whether you have a keychain with your logo on it. They don’t care if your algorithm is eco-friendly, or if there are 15 million or 100 million coins. In fact, the public doesn’t even know about you, because you have done nothing to get their interest. Before you ever create your coin, you need to figure out how you will distinguish yourself to the world outside of crypto.

How does your coin differ from Bitcoin? Is it faster? Well, a lot of coins are, but that’s not enough. Can your coin be used in an online service to reduce paypal and credit card fees? That would interest the public. Can it be used – easily – for streamlined and inexpensive international money transfers? Huge.

As an investor I want to know your plans up front. I’m not putting my money into your coin unless you can tell me why it will have value. And I want to know you have the team to realize those plans, which leads to….

Altcoin Teams Need a Business Focus
I was recently asked to join a team developing a new coin (yes, another one). I spent some time talking to the team – a coin developer, an application developer and a Marketing/PR person. 75% of our discussion revolved around how the coin itself would be developed; the rest of the time we talked about how it would be publicized.

Missing from the discussion – and the information I was unable to determine – was any talk about how this “company” would be managed, who was able to meet with financial executives, who could work out partnerships with payment processors or who could represent the coin at conferences – in short, who was capable of providing business leadership for the coin.

I passed on this opportunity. If I am going to commit to a new venture, I want to know that I have a leader with vision and a leader that is capable of guiding our whole team forward.

If your coin doesn’t have this leadership, it will fail.

But It Doesn't Have To Be This Way!
Guys, we really need to get our act together. We are building products and asking people to invest their money in them. We need to make sure people can trust in those products today, and use them tomorrow.

Take the time to build your coin correctly. Test it. Document it. Test it again. Don’t rush your launch – get it right first.

If you have your coin already, step back and review your code. Don’t wait for the world to find out you screwed up. Admit your problems, then fix it, update it, fork it – whatever it takes to have a solid product.

Take the time to build a plan that takes your coin outside of crypto. Figure out how it can improve the world of cryptocurrency, how it can do something better than any other coin or how it can stretch boundaries and chart new territory.

We have some of the best minds working in crypto – use them!

And finally, realize that this isn’t a game. Make sure you have the right people on your team. Recognize the talents you have today and fill in those gaps. This is serious business; you need the right people involved.

Don’t skimp and then watch your coin die. Doing this right will take a lot of hard work. If you aren’t prepared to do that, then prepare to fail.

We do have a solid, well tested coin.
We do have the Devs to maintain it.
With a maximum of 90 billion coins, we have enough to make large-scale international trade a reasonable goal.

The only thing we lack is the marketing talent to take us to the next level - I'm sure it's out there, maybe even reading these words right now

There's no panic - chill back & enjoy your summers

Then, if you feel you have the time & talent to contribute to our advance, we'd like to hear from you. You know how.

*ZeitCom is an equal opportunity 'employer'*

[brian_nguyen]

I found this little gem today.....

(From this article on "The CoinFront")

Note to altcoin devs: Stop reading now if you don’t care if your coin is still around a year from now.
...

*ZeitCom is an equal opportunity 'employer'*

Great find and I'm not worry, it's so nice to see them stake. Is there a rich list somewhere?  

[stevegreer]

Fresh back from a 7 day ban for posting a wallet address!! Gotta love it!! People can post all sorts of profanity and can ruthlessly troll threads and bash coins, but heaven forbid you post a wallet address!! Wow!
Anyway, just in the process of making some trades so I can buy some cheap Zeit!! Hopefully I don't get banned again for complaining about getting banned!

[LionOfNarnia]

Fresh back from a 7 day ban for posting a wallet address!! Gotta love it!! People can post all sorts of profanity and can ruthlessly troll threads and bash coins, but heaven forbid you post a wallet address!! Wow!
Anyway, just in the process of making some trades so I can buy some cheap Zeit!! Hopefully I don't get banned again for complaining about getting banned!

Da roolz iz da roolz.

There are fora (Looking at you, Nexus) where a lifetime ban for even commenting on mod action, without appeal, is all too common.

But welcome back anyway

I'm trying to tempt dumpers over on AtomicTrade to sell me another few mills but people seem to have finally worked out that the best thing to do is to -

"Keep Calm - and enjoy the Minting"

So I've only bagged a coupla hundred K so far

Another very interesting article ....

When is a whale not a whale?

(From CoinJoint )

Final Para:-

.... As the icebergs get fewer, and larger, only the most cunning – the transients – will survive the innovation arms race we are witnessing. That said, transients have never had to deal with a mass of collaborative, telepathically linked seals before. We are writing a fascinating history.

When is a whale not a whale? Never, but it would be mighty useful if we began to get a bit more nuanced about the variety of whales out there, and not simply accept Wall Street’s rather innocent sounding, catch-all terminology it has itself adopted. There is nothing docile and harmless about transients. We are better than this, so let’s start formulating our own language, a language for our own age. A language which reflects our reality. Only then we can start fighting back effectively.

Have a decent Monday, all

Only 4 1/2 days 'til the weekend!

[stevegreer]

I might have to try out Atomic-trade next time I get some other coins to sell off. I made a transaction on Bittrex yesterday, but they are so slooooooowwww!!! I had to send BTC from one exchange to them, then convert the BTC to LTC, which took a couple of hours, and then sell the LTC for ZEIT. I made the sell for ZEIT last night before going to sleep, and this morning when I woke up for work the transaction still wasn't complete. Kinda frustrating really because I just want to get them in my wallet and away from the exchange. I do not leave coins on exchanges any longer than I absolutely have to.

[LionOfNarnia]

I might have to try out Atomic-trade next time I get some other coins to sell off. I made a transaction on Bittrex yesterday, but they are so slooooooowwww!!! I had to send BTC from one exchange to them, then convert the BTC to LTC, which took a couple of hours, and then sell the LTC for ZEIT. I made the sell for ZEIT last night before going to sleep, and this morning when I woke up for work the transaction still wasn't complete. Kinda frustrating really because I just want to get them in my wallet and away from the exchange. I do not leave coins on exchanges any longer than I absolutely have to.

Very wise - encrypted wallet is always safest.

Atomic are OK but volume isn't great. I do most stuff on Bittrex but to sell my Photons for LTC I have no choice but Atomic. If I get a big enuff stash of LTC without action I'll send it back to Bittrex anyway.

[frant100]

I might have to try out Atomic-trade next time I get some other coins to sell off. I made a transaction on Bittrex yesterday, but they are so slooooooowwww!!! I had to send BTC from one exchange to them, then convert the BTC to LTC, which took a couple of hours, and then sell the LTC for ZEIT. I made the sell for ZEIT last night before going to sleep, and this morning when I woke up for work the transaction still wasn't complete. Kinda frustrating really because I just want to get them in my wallet and away from the exchange. I do not leave coins on exchanges any longer than I absolutely have to.

Very wise - encrypted wallet is always safest.

Atomic are OK but volume isn't great. I do most stuff on Bittrex but to sell my Photons for LTC I have no choice but Atomic. If I get a big enuff stash of LTC without action I'll send it back to Bittrex anyway.

yes very wise indeed

I do the same these days since I got 50 mil zeit stuck @ coinex

[frant100]

almost at page number 500 I think we should celebrate this

the first person on page 500 can pm me their wallet address for 50,000 zeit

DO NOT POST YOUR WALLET ADDRESS IN THE POST or your disqualified