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

[BainbridgeJ]

THE BTER VOTE CONTINUES
.
https://bter.com/voting#ZEIT

While we have been talking, Zeitcoin has
leapt into 45th position with 867 votes
                                  ... and rising!

[stevegreer]

Great info kiklo! And thanks for the update Bainbridge! Slowly but surely we are making a name for ourselves in the crypto world!

[atronite]

It's just a fact. Look at the block explorer, there's about five wallets that control 33% of coins in existence. It makes the US$ or even bitcoin look like a veritable communist utopia. It may have the potential for an equitable distribution due to the currently relatively low price, but at the moment I'd have to see inequitable is an apt descriptor.

https://chainz.cryptoid.info/zeit/#!rich
Current stats
32% at 10 address
36.9% at 100 address
26.8% at 1000 address
4.3% for the rest

In the US
The Wealthiest 20% Own 72% of the money ; The Poorest 20% Only 3%
http://www.forbes.com/sites/robertlenzner/2013/04/19/the-growing-disparity-in-wealth-made-the-great-recession-worse-and-the-recovery-weaker-than-ever-before/

As you can see our current Zeit 10 wallets rich list max out at 32%,
only 20% of US Rich own 72% of US Dollars. 72% is way higher than 32%.
We are already more fair than they are by huge numbers.

I'd be curious to know if this figure differentiates the people from the corporations, and whether or not this includes derivatives or not. As far as I know, the actual value of derivatives FAR out-scales the world economy as it is currently understood. To the tune of 700 trillon (yes TRILLION) US dollars. And over 600 trillion of that is held by the top 5 US banks.....which are controlled only by a relatively TINY fraction of the world population.

When you take that into account, things suddenly start to look very different.

In any event, Zeitgeist's "solutions" can basically be summed up one phrase: Destruction of the market for things we need to survive by making access to those resources as abundant as possible through the use of today's cutting-edge technology. What do we need to survive and thrive?

Food
Water that is clear of impurities
Shelter
Clothing
Transportation
Health Care
Educational Training
Access to the world's information and communication networks (such as the internet, radio, phone and TV)
Energy to make the above things possible

The vast majority of our expenditures and resources go to these things. If people had an abundance of access to the things in the above categories (because technology makes it so abundant that it can't be sold), we would have very little need for money or work unless they wanted to acquire some luxuries.

A good example of a destroyed market that benefited humanity:

When Google introduced the first 1GB email service for FREE, destroying in one feel swoop the market for buying additional email space and the need for ever deleting emails again.

The goal is to achieve the same thing, except for basic necessities like food, water and HEALTHCARE.

[jwinterm]

It's just a fact. Look at the block explorer, there's about five wallets that control 33% of coins in existence. It makes the US$ or even bitcoin look like a veritable communist utopia. It may have the potential for an equitable distribution due to the currently relatively low price, but at the moment I'd have to see inequitable is an apt descriptor.

https://chainz.cryptoid.info/zeit/#!rich
Current stats
32% at 10 address
36.9% at 100 address
26.8% at 1000 address
4.3% for the rest

In the US
The Wealthiest 20% Own 72% of the money ; The Poorest 20% Only 3%
http://www.forbes.com/sites/robertlenzner/2013/04/19/the-growing-disparity-in-wealth-made-the-great-recession-worse-and-the-recovery-weaker-than-ever-before/

As you can see our current Zeit 10 wallets rich list max out at 32%,
only 20% of US Rich own 72% of US Dollars. 72% is way higher than 32%.
We are already more fair than they are by huge numbers.

You're looking at the addresses, not wallets, but it's not a huge difference, so let's say it's 10 people who own 1/3 of the currently ~30B ZEIT in circulation. From the same page, you can see that there are currently 8275 wallets with some ZEIT balance, so this means that 10/8275=0.0012=0.1% of all ZEIT is held by 5 to 10 people (or fewer).

Now, comparing with the USD, from random internet site #1 ( http://www.ritholtz.com/blog/2011/10/forget-the-top-1-look-at-the-top-0-1/ ) we find that the top 0.1% of Americans earn 10% of all income, however egregiously unfair this may be, it's less unfair than Zeitcoin, where the top 0.1% will earn 33% (or more) of all income, since you will stake in proportion to the amount of ZEIT you own.

In terms of wealth distribution, from random internet site #2 ( http://blogs.lse.ac.uk/usappblog/2014/10/29/the-explosion-in-u-s-wealth-inequality-has-been-fuelled-by-stagnant-wages-increasing-debt-and-a-collapse-in-asset-values-for-the-middle-classes/ ):

Emmanuel Saez and Gabriel Zucman find that over the past three decades the share of household wealth owned by the top 0.1 percent has increased from 7 to 22 percent.

Again, this appears to be a horrendously unjust situation that has gotten worse over the past 30 years, but again, this isn't quite as inequitable as the distribution of Zeitcoin currently (0.1% owning ~33% of all "money").

Anyway, thanks for the civil discussion. I appreciate the thoughtful responses. I am considering buying (back) into Zeit, I'd just like to determine what niche it fills, and what the plans are to fill that space.

[gregofdoom]

ZEIT together with his older brother BTC? This is great news .  

http://www.followthecoin.com/3-new-bitcoin-alternatives-watching/

[stevegreer]

Anyway, thanks for the civil discussion. I appreciate the thoughtful responses. I am considering buying (back) into Zeit, I'd just like to determine what niche it fills, and what the plans are to fill that space.

Do please buy back in. It would only help to spread the wealth our more equally!

[kiklo]

You're looking at the addresses, not wallets, but it's not a huge difference, so let's say it's 10 people who own 1/3 of the currently ~30B ZEIT in circulation. From the same page, you can see that there are currently 8275 wallets with some ZEIT balance, so this means that 10/8275=0.0012=0.1% of all ZEIT is held by 5 to 10 people (or fewer).

Now, comparing with the USD, from random internet site #1 ( http://www.ritholtz.com/blog/2011/10/forget-the-top-1-look-at-the-top-0-1/ ) we find that the top 0.1% of Americans earn 10% of all income, however egregiously unfair this may be, it's less unfair than Zeitcoin, where the top 0.1% will earn 33% (or more) of all income, since you will stake in proportion to the amount of ZEIT you own.

In terms of wealth distribution, from random internet site #2 ( http://blogs.lse.ac.uk/usappblog/2014/10/29/the-explosion-in-u-s-wealth-inequality-has-been-fuelled-by-stagnant-wages-increasing-debt-and-a-collapse-in-asset-values-for-the-middle-classes/ ):

Emmanuel Saez and Gabriel Zucman find that over the past three decades the share of household wealth owned by the top 0.1 percent has increased from 7 to 22 percent.

Again, this appears to be a horrendously unjust situation that has gotten worse over the past 30 years, but again, this isn't quite as inequitable as the distribution of Zeitcoin currently (0.1% owning ~33% of all "money").

Anyway, thanks for the civil discussion. I appreciate the thoughtful responses. I am considering buying (back) into Zeit, I'd just like to determine what niche it fills, and what the plans are to fill that space.

No offense, but you are swaying the percentages to try and make your point.
By dropping down to .1% , there is an old saying ,there are Lies, Worst Lies , & then worst of all Statistics. By focusing on narrow ranges , you can make statistics say anything you want.
For example everyone has breathe in oxygen, and after 100 years or so all of those people have died.
So the statistical conclusion is that 100% of people breathing oxygen will die, and therefore Oxygen is bad for you.
When we all know without oxygen we will not last over 10 minutes.
See how narrow range statistics can cause errors in judgement.

Back to your point on distribution , the ZeitKnights solution is the faucets and creating a virtual / physical economy which will cause a better distribution than what it is now.

But if you want a quick fix , you can go in and buy up as much as you want , and immediately give it out to other people , until you get the percentages where you are most happy.
Although people will be a lot more interested in receiving & spending zeit after the price has gotten higher.

This is still a very new creation, don't expect it to satisfy every ideal , yet?
But as time goes on , you will see we are molding it into the tool it needs to be for it to change the world for the better.

 

FYI:
We always enjoy Good Debates in the Zeit Forum.

FYI2:
Before we get Zeitcoin to (My personal prediction) of $1 , you will see a major swing in the distribution of those large address ,as they begin to spend zeitcoins on items & services they desire, which will increase distribution. Plus even if a ZeitKnight did not spend any zeitcoins for anything else, they still will drain off 10% yearly to flow out to others, contrast that with US Corporations making Billions and not only not paying in any taxes but receiving massive refunds, which in the end is stolen from the people.
The Current System is designed to keep them in power and keep the people to poor to do anything about it. Zeitcoin Can & Will Change That System to a Resource Based, that will always be fair, and if anyone was dumb enough to think they could hoard all of the zeitcoins, then the people of the world can start a Zeitcoin 2.0 , because for any resource to have value, there has to be circulation among the people.
Stop that circulation and you kill that economy, because the rich forget , if the poor can't afford their products , then eventually the poor will use something else for money and the rich will lose it all.

 

[BainbridgeJ]

ZEIT together with his older brother BTC? This is great news .  

http://www.followthecoin.com/3-new-bitcoin-alternatives-watching/

This is old news from around the time when Zeitcoin was first launched. March 3, 2014

[BainbridgeJ]

This is my last post. I'm moving on to new pastures. The BTER vote continues to go well. Good luck everyone.

[Furio]

Sorry for my noob question, but needs to be my wallet unlocked without password, to take advantadge of POS? Minting is not possible, does this means I won't get my POS share?

[kiklo]

Sorry for my noob question, but needs to be my wallet unlocked without password, to take advantadge of POS? Minting is not possible, does this means I won't get my POS share?

Once the wallet is synced, go to Minting and click Mint Unlock, this unlocks the Wallet so it can mint.
Minting will not take place until 20 days at the earliest.
Ray put that cool leaf beside the connections at the lower right hand side of the wallet, if it turns green , then you have coins ready to mint and should unlock the wallet for POS.
You can leave the wallet locked as long as you want , just unlock it when that leaf is green, and it should mint shortly thereafter.

 

[Rent_a_Ray]

This is my last post. I'm moving on to new pastures. The BTER vote continues to go well. Good luck everyone.

I will not let you go!!!!!

[kiklo]

ZEITKNIGHTS
Jan 31., 2015
Become a legendary zeight (zeitknight) and help us to help others.
Registration is open for 4 weeks in February, 4 weeks in June, 4 weeks in October.

Zeit-Knights
Charity            : (Donate up to 10% of their interest stake to help others and fund the Faucet & Bountys)
Sword & Shield :(Provide Stability to the Zeitcoin Market Price)
ZGames          :(Commission or Partner with OnlineRolePlay Game with a working Zeit wallet)
                       (Also fund specific amount of zeit monthly to be used in Zeit Games)
                       (Also we will setup a ZEIT Game Links on the Web Site & in the Forums.)

Goals , Long & Short Range for Consideration
A Directory of Services/Items for sale using Zeitcoins       submitted by BainbridgeJ  
A user rating system in order to report Businesses           submitted by Atronite
ZEIT Friendly Tourist Location Listings

Exchange Zeit for Preloaded Gift Cards                          submitted by kiklo
Site for buying and selling 3D printing blueprints              submitted by Atronite
Merchandise shop stickers, wallpapers, Watermarks         submitted by Mitras
Crowdfunding Projects                                               submitted by Rent-A-Ray
Picture shop selling commercial pictures for Zeitcoins       submitted by Rent-A-Ray

Wallets: Option to Combine Blocks, Automatically            submitted by Zels
(SplitThreshold: small # blocks not split)
Chatrooms / Exchange Link                                         submitted by Podizzle
Chat button in the qtGUI                                            submitted by Atronite
Commission an Android Wallet for Zeitcoin                      submitted by kiklo

Build, or Transform an Existing City                               submitted by BitcoinNational
Making The Zeitcoin Council A Legal entity                     submitted by BainbridgeJ  


Requirements:
All Members must have 100 million Zeitcoins as a requirement of being part of the Zeit-Knights.

Listed under Completed Goals  
Thanks to Efforts of Rent-A-Ray
New Wallets to speed up the Zeit Wallet Load time: submitted by UKI
Wallet Block explorer:  submitted by Podizzle

Thanks to everyone who donated to Sean's Outpost during coinpayment vote
Help Support a Charity: submitted by fxtronic & Rent-A-Ray

 

[LionOfNarnia]

The more I think about it, the less I think that any kind of proxy scheme is either needed or justified.

With the price as it is, and the amount of time left before registration opens, there really is little excuse for someone who desires a knighthood to go begging to the community for proxy coins.

So how about we just K.I.S.S. it & say "If you want in, you have to prove you have 100 million." Simples!

[kiklo]

The more I think about it, the less I think that any kind of proxy scheme is either needed or justified.

With the price as it is, and the amount of time left before registration opens, there really is little excuse for someone who desires a knighthood to go begging to the community for proxy coins.

So how about we just K.I.S.S. it & say "If you want in, you have to prove you have 100 million." Simples!

Ok, removed the proxy issue from the post.

 

[groggin]

   

The more I think about it, the less I think that any kind of proxy scheme is either needed or justified.

 

Ok, removed the proxy issue from the post.

  Really? what if higher learning institutions required students to be able to tie their shoestrings right every time.  ...   a universe without relativity?

 here we are a bunch of wanna-be_s (wanna be rich? well, ya) and we're sayin you gotta be rich to join the board

seems a contradiction

so will the zeit centered universe be without charity?

[stevegreer]

   

The more I think about it, the less I think that any kind of proxy scheme is either needed or justified.

 

Ok, removed the proxy issue from the post.

  Really? what if higher learning institutions required students to be able to tie their shoestrings right every time.  ...   a universe without relativity?

 here we are a bunch of wanna-be_s (wanna be rich? well, ya) and we're sayin you gotta be rich to join the board

seems a contradiction

so will the zeit centered universe be without charity?

I feel you bro. It's cool, though. I reckon it's just like any other politics, if you want to play the game you have to have the money. My cards are off the table anyway. It's very doubtful I will be able to round up another 94 million Zeit anytime soon. I am relying on my minting and trading in Doge I get from faucets. I have long since abandoned mining as I was only burning up my CPU for very little, if any, profit. And there is no way my wife would ever entertain the idea of me spending a couple hundred dollars to buy the Zeit I would need to get in.

So, I'll just keep doing what I'm doing and support the coin and community in the best way I can.

[BainbridgeJ]

This is my last post. I'm moving on to new pastures. The BTER vote continues to go well. Good luck everyone.

I will not let you go!!!!!

Thanks for the value you put on my contribution to the Zeitcoin cause. Appreciated. I think I've done most of what I can do in the limited time that I have available. The move for a BTER listing is a good one and could ensure lots of new holders of Zeitcoin. I have a high respect for your abilities as a developer.

The CoinPayments decision is in the balance and I feel that you could very well be successful in that direction. If not, then just keep on consolidating on the progress that you are making with this coin. I still have a holding, so I will keep an eye on what is happening every now and then. But for the now, at least, I will slip into the background. Good luck!!!

P.S. It's good to see Lion back in the thread.

[kiklo]

 Really? what if higher learning institutions required students to be able to tie their shoestrings right every time.  ...   a universe without relativity?

 here we are a bunch of wanna-be_s (wanna be rich? well, ya) and we're sayin you gotta be rich to join the board

seems a contradiction

so will the zeit centered universe be without charity?

Dude , are you saying you can't tie your Shoestring?  

At current prices , you don't have to be rich to buy 100 million zeit, but the longer you wait the higher the price is . The Knights were mentioned back when zeitcoins was only in the 20s.

ZeitKnights are going to be all about charity, notice our faucet has over 3 million zeit in it right now.
So we are giving out free zeitcoins, and will continue this even when zeitcoin price rises.

Notice, this only ends our discussion of the proxy vote issue as some have had major concerns about the problems it would bring up.
But guess what, the easy solution , if you want someone on the ZeitKnights that does not have 100 million, and you have much more, just give them the amount, and then they can be voted in.

 

FYI: If you were able to get the zeitcoins at 20, then it would have only cost $75 total.
Now Price range is at ~80 so it now costs ~$300 to get 100 million.
Sorry , but the market cap has to keep rising so zeitcoin will be able to accomplish the goals we have set for it. Been warning everyone for a while the price would increase and will keep increasing, there will be some lulls, but they will be temporary. Compared to what the price will be next year , this year will be nothing. So if nothing else hang on to your coins and sell the interest when you need to , because next year, we get to business, and if you only have a few million zeitcoins, and we get to a $1 by 2019 , you will be a millionaire if you are a ZeitKnight or not.

[LionOfNarnia]

This is my last post. I'm moving on to new pastures. The BTER vote continues to go well. Good luck everyone.

I will not let you go!!!!!

P.S. It's good to see Lion back in the thread.

I never left, dude!

Been up to my ass though -

Despite not being able to secure the funding I was looking for, I decided to make the bold move to going self-employed this week.

I've put in too much work over the last 6 months, and believe too strongly in the technology, to walk away now.

Maybe I'll even put 'Project Hadrian' (see sig) up for ZeitKnight support come February?

Hey, sink or swim, at least I took the plunge!

Another thing that's been eating into my time is the M.O.O.C. M.Sc in Digital Currencies from the University of Nicosia (@aantonop is one of my tutors ) - Nearly half-way through now, and holding about 90% Rating so far. It's TOUGH!

I've also been UTMA with the launch/beta testing of #BYC - looking good so far, my bag is currently worth over 2 BTC & the party hasn't really even started yet.

Anyway, all you guys have been doing such a magnificent job lately, there's been little need for any 'Lioning'