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

[kiklo]

Hello ZEITcoin community,

Please have a look at Faircoin project "FairCoop"...

It doesn't take 500+ pages to attach a cryptocoin to an association.
Now it won't be the first anymore, but Zeitcoin can also try and help the world....
 

Your Coin Specifications:   POW/POS Hybrid

There are security issues in having a hybrid coin.
Just in the past month ,
 Tek crashed on it POS side took weeks & a hard fork to recover
 Diamond POW side crashed , just 2 days ago, still trying to fix.

Just a bit of friendly advice, pick one or the other, using both will cause problems,
 unless you watch it like a Hawk.

 

 

[1714043976]

1714043976

[1714043976]

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[LionOfNarnia]

I got a 'tip' via twatter.

Midas coin is (re)launching in just over 25 hours, from doing some research myself it seems like a 'good bet' at a time when I was already thinking about going back to mining after the summer break.

MOST alts just aren't profitable to mine right now, the only possible exception being UltraCoin (X11), but Midas (Scrypt - 'Proof of Mining') seems to have a whole lot going for it.

One of those being it's referral system

So if any of you asic-equipped dudes (after doing your own 'due diligence', of course!) or anybody for that matter wanna help this poor ole Lion a wee bit, I'd appreciate it if you used my link for the official pool...

http://www.midascoin.io/ref/2162

To save a search, here's the new thread-link:-

https://bitcointalk.org/index.php?topic=784286.0

Hey, why not? We have to mine something to be able to buy more Zeit.

[stevegreer]

Hello everyone! I've been away for a while due to work. Just getting caught up on the thread and I must say that it is nice to see some fresh blood getting involved and having some plans formulated for our community and our coin. There is one thing that bothers me though. The counsel. It's not so much the thought of a counsel being formed, but the suggestion that counsel members must hold a minimum of 100 million Zeit in order to be considered for a counsel seat. There are some of us who have been active with Zeit since the beginning who unfortunately, in my case at least, have not had the good trading fortune or spare money lying around to have been able to acquire that many Zeit. And while it is true that Zeit can be had for next to nothing these days, there are still minimum dollar amounts to BTC that must be invested in order to get the BTC to trade for ZEIT. And I simply do not have the spare money at the moment as I am more focused on getting out of debt than anything else. So basically, someone can come along and invest a few dollars and get in on the counsel without ever having done anything at all for the community previously, but someone such as myself who has been active the whole time won't be able to be on the counsel simply because I don't hold 100 million Zeit?
Other than that, I like where things are going!

[kiklo]

Hello everyone! I've been away for a while due to work. Just getting caught up on the thread and I must say that it is nice to see some fresh blood getting involved and having some plans formulated for our community and our coin. There is one thing that bothers me though. The counsel. It's not so much the thought of a counsel being formed, but the suggestion that counsel members must hold a minimum of 100 million Zeit in order to be considered for a counsel seat. There are some of us who have been active with Zeit since the beginning who unfortunately, in my case at least, have not had the good trading fortune or spare money lying around to have been able to acquire that many Zeit. And while it is true that Zeit can be had for next to nothing these days, there are still minimum dollar amounts to BTC that must be invested in order to get the BTC to trade for ZEIT. And I simply do not have the spare money at the moment as I am more focused on getting out of debt than anything else. So basically, someone can come along and invest a few dollars and get in on the counsel without ever having done anything at all for the community previously, but someone such as myself who has been active the whole time won't be able to be on the counsel simply because I don't hold 100 million Zeit?
Other than that, I like where things are going!

Hi Steve,

The requirement is 100 million Zeit per member of the Counsel.
There is a way you can still be on it.
Next year when we form it and ask for the names of the people who want to be on the counsel , if any member on the counsel has over 100 million zeit when we confirm how many zeit each member has, say another member has 200 million zeit and you only have 50 million zeit, they can proxy the other 50 million zeit to your name for entry on the counsel. They don't have to actually transfer any zeit to you , just submit a proxy for you for that amount and you can be on the counsel. Or if you have been doing anything for the zeitcoin like Rent-A-Ray keeping up the website with his own money, your 100 million zeit requirement will already be considered filled.

 

FYI:
Part of the reason for the Counsel , is that we as members will have a vested interest in Zeit Success, plus we won't be asking the community for any donations like some other coins do.
To accomplish all of our goals may require that the counsel or subgroups of the counsel pay for necessary items or services. The counsel will share the burden to make Zeit what we all want it to be.
One reason for the 100 million Zeit requirement is so we could combine a percentage of our Monthly interest to give away or if you will seed zeit where it needs to be to Grow.

[stevegreer]

Ah! See, when you put it that way it makes more sense. Now I see what you are saying. I do like the idea and appreciate the fresh perspective. Zeit has been through some rough times indeed, and we are still here. I do feel a sense of ownership since I have been here since the beginning and have done a good bit of advertisement for the coin. Granted, there are others here that have done way more than me, especially in the technical aspect of the coin. We do have a great little community and it is really nice to see it growing, even if it is one or two members at a time!

[LionOfNarnia]

Ah! See, when you put it that way it makes more sense. Now I see what you are saying. I do like the idea and appreciate the fresh perspective. Zeit has been through some rough times indeed, and we are still here. I do feel a sense of ownership since I have been here since the beginning and have done a good bit of advertisement for the coin. Granted, there are others here that have done way more than me, especially in the technical aspect of the coin. We do have a great little community and it is really nice to see it growing, even if it is one or two members at a time!

I'll proxy you 35 million, Steve.
A council without our 'rocks' would be no council at all.

[BainbridgeJ]

It makes sense that large holders of Zeitcoin should co-ordinate for the betterment of the coin. They would have a demonstrable interest in the success of Zeitcoin.

However, we should do this properly. I suggest that we create a legal entity, an artificial personality - The Zeitcoin Council. I prefer the word 'Council' (an advisory/administrative body) to 'Counsel' (an adviser). We should be properly constituted. All Zeitcoin holders could be eligible for membership. Large holders could automatically be eligible for administrative positions and other members could be co-opted based on their usefulness and contributions. Other possibilities could be explored. A Constitution should be constructed. This could mirror the Memorandum and Articles of Association of a limited company. The Council would not be bound by the tight strictures of a limited company, and yet could have similar advantages.

[kiklo]

It makes sense that large holders of Zeitcoin should co-ordinate together for the betterment of the coin. They would have a demonstrable interest in the success of Zeitcoin.

However, we should do this properly. I suggest that we create a legal entity, an artificial personality - The Zeitcoin Council. I prefer the word 'Council' (an advisory/administrative body) to 'Counsel' (an adviser). We should be properly constituted. All Zeitcoin holders could be eligible for membership. Large holders could automatically be eligible for administrative positions and other members could be co-opted based on their usefulness and contributions. Other possibilities could be explored. A Constitution should be constructed. This could mirror the Memorandum and Articles of Association of a limited company. The Council would not be bound by the tight strictures of a limited company, and yet could have similar advantages.

@BainbridgeJ
Legal Wranglings are outside of my comfort zone.
But if they are in your comfort zone, then I will be more than happy to focus on the zeitcoin goals, and defer creation of a Zeit Coin Council to You.
That way I can focus more on ideas to grow the coin.
Just let me know where I can help.
FYI: The 100 mil zeit requirement has to be kept for the council.
So they can donate a percentage of their monthly zeit to seed zeit in needed areas. Will go into more detail on those areas in the future.
 

[uki]

great to see that things are slowly moving again.
It's time for ZEIT (pun intended) to bring it back where it belongs.

ps.
@Steve: I can avail another 35 million, in your name if needed.

[BainbridgeJ]

It makes sense that large holders of Zeitcoin should co-ordinate together for the betterment of the coin. They would have a demonstrable interest in the success of Zeitcoin.

However, we should do this properly. I suggest that we create a legal entity, an artificial personality - The Zeitcoin Council. I prefer the word 'Council' (an advisory/administrative body) to 'Counsel' (an adviser). We should be properly constituted. All Zeitcoin holders could be eligible for membership. Large holders could automatically be eligible for administrative positions and other members could be co-opted based on their usefulness and contributions. Other possibilities could be explored. A Constitution should be constructed. This could mirror the Memorandum and Articles of Association of a limited company. The Council would not be bound by the tight strictures of a limited company, and yet could have similar advantages.

@BainbridgeJ
Legal Wranglings are outside of my comfort zone.
But if they are in your comfort zone, then I will be more than happy to focus on the zeitcoin goals, and defer creation of a Zeit Coin Council to You.
That way I can focus more on ideas to grow the coin.
Just let me know where I can help.
FYI: The 100 mil zeit requirement has to be kept for the council.
So they can donate a percentage of their monthly zeit to seed zeit in needed areas. Will go into more detail on those areas in the future.
 

I'm not staging a takeover bid! I am merely suggesting a possible way of firming up previous ideas. Besides, I did not know that the Zeitcoin Council was yours to defer to another. It should be that the majority/weight of opinion decides the future of the Zeitcoin Council. I would hope that we regard ourselves as being on the same team, on similar wavelengths, traveling in a similar direction. Organising ourselves into a formalised group is a simple matter to undertake. Clubs, community groups etc. do it all the time.

Becoming a legal entity would mean that the veil anonymity that most crypto-currencies hide behind would be lifted to a certain extent. Anonymity and the 'distancing' of certain people from Zeitcoin are things that I find disconcerting at the moment. It's as if the original person/s involved in creating Zeitcoin is/are backing off in case things go pear-shaped. For instance, one of the originals changed his name to Beejay - my initials. I hope that he is not trying to pass himself off as my good self! Perhaps he sees me as a possible scapegoat to point to if anything does go wrong. To make it clear, I am not Beejay!

I also suspect that there is at least one very large holder (the creator?) who seems not to think that Zeitcoin has a long-term future, and who is quite satisfied to regularly sell at a low price from almost Day One. By becoming a legal entity a degree of anonymity's murky mist could be dispelled. This could instill a measure confidence in Zeitcoin that presently it does not have to any great extent - and this would be true of other altcoins too.

I would suggest that if there is to be a Council, then it should be built on a solid foundation. The first steps should include gaining ownership/control of Zeitcoin. If that is not achieved, then I would be reluctant to be involved. Over to you, and others.

[stevegreer]

Uki and Lion, thank you both very much! I'm currently minting away as well! It's been fun watching those coins get minted! These are exciting times for Zeitcoin indeed!

[LionOfNarnia]

The exciting, thrilling days will come again.

Before that is the necessity for deep thought, open discussion, enlightened planning & quite a bit of good old-fashioned hard work.

Scared yet?

I'm not convinced of the 'legal entity' bit - can we not find a more 'crypto' way of achieving the same thing? (Smart contracts?) - Otherwise, at the very least, there will be some major (=expensive) jurisdictional problems.

But yeah, as 'proof of developer' is thankfully becoming important for new coins, surely one of the main 'conditions' of becoming a strategic mover must be 'proof of life'?

i.e. No hiding behind pseudo-anonymous usernames, 'councilmen' should be required to prove who they are in the same kinda way that we do anyway for any fiat exchange under KyC.

My thoughts on the 'donations from minting' bit:-

As many of you know, I'm a fan of the old concept of tithing. It's simple to understand & calculate & has worked well for many centuries.

So I'd suggest that council members must pledge to donate a minimum of 10% of their mintings to the common good. Again, smart contracts should ensure no shenanigans.

 

[BainbridgeJ]

mmmmmmm ... "major (=expensive) jurisdictional problems"? The only such problem, as far as I can see, would be gaining the full, accountable control of Zeitcoin. I would be interested in your views on this as you seem to be one of the few people capable of contacting the original developer.

Regarding membership fees, I would suggest that a normal flat-rate standard fee in readily spendable fiat (£s, $s), or Bitcoin, would be the most workable solution. This would help cover the cost of maintenance and further development. A Chairperson, Secretary and Treasurer could be appointed to account for money spent on approved projects.

A constitution would be relatively easy to draft, although time-consuming. Upon voting to empower it, the Zeitcoin Council would become a legal, artificial personality with an entitlement to a bank account and the ability to apply for funding in its own right.

I believe in getting the basic foundations right in the first place, which is something that Zeitcoin has done well so far - particularly with regards to function.

[LionOfNarnia]

No, I never did have any 'special access' to Mr ZeitCoin. I had a couple of PMs from him here in the early days, that's all.

afaik Ray did have pretty regular skypes with him but has no better idea of his real identity than anyone else.

That's probably the biggest issue in getting 'full legal control'. He has been ignoring 'us' since just after the forum opened. No reason to think he will suddenly start co-operating now.

Anyway, I'd rather see an organisation aiming for the future, not clinging to the past, in the terms of its' status AND its' nomenclature.

Flat rate?

Not in favour, sorry.

For one it plays faves with those who have many times more Zeit than the 'minimum for consideration' & for two, a percentage of future mints is absolutely as far as I can afford to commit to right now -

- I'm slowly drowning on 'Job Seekers Allowance' of £72 a week. It's not a nice place to be.

[kiklo]

@BainbridgeJ

You misunderstand what I meant,
The Formation needs to be organized by a few people to get it started.
Once it is formed then the majority rule takes over.
And in no way do I feel like it is a takeover, people asked questions and I gave answers to help further things along. But you are ready to go further than my skill set alone reaches, which is why deferring the formation to you and the others who are ready makes perfect sense.
And from reading the past few posts you and the others have already started.  
No ego on my part, just want the best for Zeit.
Will be adding my ideas when I think they can help.
It is going to be a Great 2015 for ZEIT!!!

 

[LionOfNarnia]

Just got this on twatter. Seems apt.

Nike has a market cap 13.5x larger than Bitcoin, yet you don’t see Nike saying

“How dare anyone else make sneakers? We've already solved it!"

[BainbridgeJ]

@kiklo

It's good that we are bouncing ideas off each other. I'm going to back off a bit, but still work in parallel behind the scenes. We should progress steadily in achievable stages. My thoughts revolve around the direct use of Zeitcoin as a currency of exchange for goods and services - also of ways to exchange Zeitcoin for fiat, and vice versa.

With regards to the feasibility of an Android wallet: apparently for POS coins like Zeitcoin it is a little bit more complicated to create than it would be for a POW coin, such as Quark for example - but still very much do-able. An Android wallet would seem to be further down the line towards medium-term goals. So, I see it as use first, then an Android wallet to facilitate that use.

By the way, thanks for all the great work that you are doing!  

[tx42]

Wow guys. Congratulations on keeping this coin so nice.

I'm not in it, but I'm very impressed.

[kiklo]

For Anyone downloading ZeitCoin for the 1st time and you don't want to wait for the Blockchain to download from the beginning.

Go to the Following Link to get a copy of the Zeitcoin Blockchain from Sept. 2014.

https://www.dropbox.com/s/3a3l0akth7dpoeg/ZeitCoin-Blockchain.zip?dl=0

Make sure Zeitcoin is closed

Then Unpack and copy & replace the files from Zeitcoin-Blockchain into C:\Users\"username"\AppData\Roaming\Zeitcoin

Then open Zeitcoin and it will start syncing the BlockChain from the last Monthly update instead of the start.
   
 

[LionOfNarnia]

Wow guys. Congratulations on keeping this coin so nice.

I'm not in it, but I'm very impressed.

Thanks

But why not?

$100 will just about get you on the council