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Question: Zeitcoin's Interest Rate is 5% per year
http://www.zeit-coin.net
https://zeit-knights.slack.com

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Author Topic: ★ ZEIT ★ [COMMUNITY & KNIGHTS] [FULLY PoST | 5%]  (Read 854947 times)
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solarion
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June 23, 2017, 11:50:28 PM
 #15601

Well that seems a shame as I think we do need a cut to new supply to stabilize Zeitcoin's exchange rates. Even if that means a simple interest rate cut to say 1% or .5% and staking parameters remain the same, it should be undertaken imo.

To that end I'd be willing to contribute to a fund to get this accomplished. ULI was voted upon and seemed to be overwhelmingly supported, it's a shame to let it go after some have cited this initiative specifically as a primary incentive for increasing their stack of Zeit.

What say other knights and holders of Zeitcoin on this?

Proof Of Stake - Mine without wasting power. /\ Tek - 500% /\ HoboNickels - 100% /\ PhilosopherStone - 50% /\ ZeitCoin - 15%
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FWBlack
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June 24, 2017, 12:20:00 AM
 #15602

Due to our recent price spike a month or so ago.

Their are many members that feel going to ULI , is unnecessary and want to stay at the 5% forever.

It has come to my attention, that some of those plan a split (like ETH/ETC) once ULI goes into effect , basically causing a civil war in the Zeit community.

I personally feel ULI would have helped ZEIT reach its Destiny sooner than staying at the 5% rate.
However due to my inability to actually get the ULI activated and the possibility of splitting this great community in half.

I have no choice but to withdraw my future efforts to get ULI activated.
From here on out , my only purpose here will be keeping the snapshot updated.

I asked Zeitcoin to remove the ULI from the OP as no one will be attempting it's activation now,
and the 5% rate will be Final and Forever as originally intended.

I still Believe ZEIT will reach it's goals with the help of the Knights, it will just be at a slower pace.

Good Day, everyone.


 Cool

I support the ULI.  I have had enough Zeit to become a Knight but have not.  If this is something that the Knights control, then if becoming one I will when the window opens again.

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ZeitCoin: MsZFdZYiKdwBGizipJhTy91BQ6Y9oS2qo4
luckytimes
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June 24, 2017, 02:33:41 AM
 #15603

Due to our recent price spike a month or so ago.

Their are many members that feel going to ULI , is unnecessary and want to stay at the 5% forever.

It has come to my attention, that some of those plan a split (like ETH/ETC) once ULI goes into effect , basically causing a civil war in the Zeit community.

I personally feel ULI would have helped ZEIT reach its Destiny sooner than staying at the 5% rate.
However due to my inability to actually get the ULI activated and the possibility of splitting this great community in half.

I have no choice but to withdraw my future efforts to get ULI activated.
From here on out , my only purpose here will be keeping the snapshot updated.

I asked Zeitcoin to remove the ULI from the OP as no one will be attempting it's activation now,
and the 5% rate will be Final and Forever as originally intended.

I still Believe ZEIT will reach it's goals with the help of the Knights, it will just be at a slower pace.

Good Day, everyone.


 Cool

I support the ULI.  I have had enough Zeit to become a Knight but have not.  If this is something that the Knights control, then if becoming one I will when the window opens again.


What is a ULI? Would that cut down the total number of coins each person owns? Just curious. If someone owns 500k coins, would it potentially become 250k? Just wondering how this would work. Thanks
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June 24, 2017, 03:36:59 AM
 #15604

Due to our recent price spike a month or so ago.

Their are many members that feel going to ULI , is unnecessary and want to stay at the 5% forever.

It has come to my attention, that some of those plan a split (like ETH/ETC) once ULI goes into effect , basically causing a civil war in the Zeit community.

I personally feel ULI would have helped ZEIT reach its Destiny sooner than staying at the 5% rate.
However due to my inability to actually get the ULI activated and the possibility of splitting this great community in half.

I have no choice but to withdraw my future efforts to get ULI activated.
From here on out , my only purpose here will be keeping the snapshot updated.

I asked Zeitcoin to remove the ULI from the OP as no one will be attempting it's activation now,
and the 5% rate will be Final and Forever as originally intended.

I still Believe ZEIT will reach it's goals with the help of the Knights, it will just be at a slower pace.

Good Day, everyone.


 Cool

I support the ULI.  I have had enough Zeit to become a Knight but have not.  If this is something that the Knights control, then if becoming one I will when the window opens again.


What is a ULI? Would that cut down the total number of coins each person owns? Just curious. If someone owns 500k coins, would it potentially become 250k? Just wondering how this would work. Thanks

Link to your own post answering this question a month ago.  Ultra Low Inflation.
https://bitcointalk.org/index.php?topic=487814.msg19147771#msg19147771

It would not affect the amount of coins you currently have.

huige007
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June 24, 2017, 04:11:12 AM
 #15605

The coin has no innovative technology, and development must do this.

QQ群名称:ECCoin爱好者    QQ群名称:ZEITCOIN爱好者    QQ群名称:Reddcoin爱好者
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June 24, 2017, 07:03:08 AM
 #15606

June 1 has long come. It is necessary to introduce new technologies into the coin. Only after that will there be active coin growth!
-------------
The Dev Rent_a_Ray is working on an update to Zeitcoin's specs.

Update to a Ultra Low Inflation Coin

1.  Interest rate change to 0.0005% (0.000005) per year.
2.  Minimum Stake Age Changed to 1 Day, (24 Hours)
3.  Blocks only Split , if they stake within 25 hours of being created, all blocks older than 25 hours would not split, just add the additional amount to the block.

* This will end the excess inflation that is keeping our price low, after it is activated,
Prices will stabilize and then begin a gradual but continuous increase in price per coin,*

Supply of new coins , at the old 5% rate was ~1 million per day , after the switch to Ultra Low Inflation less than 181,000 new coins will be created per year.
By moving to a minimum stake age of 24 hours instead of 20 days, we dramatically increase our network security.
By harnessing the law of supply & demand, it will cause the price of existing coins to increase due to the decrease in new coins created.
It also changes us to a PoST coin, as you will be able to earn more zeitcoins from processing Transactions per block than the interest earned.
Due to this ULI update , and the nature of random transactions fees, You have the highest earning potential by leaving your wallet running 24x7 after the new specs are active. In the past some users only synced and supported the network a few hours every month or so, and they can continue doing that if they wish, but it will decrease their earning potential if they don't run daily. So increased incentive for full time nodes and daily staking.  Smiley

Dev is working hard to make these changes happen, and will announce more information ~June 1st as far as the scheduling of the hard fork.
killkingsoldier
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June 24, 2017, 12:20:19 PM
 #15607

i think the Ultra Low Inflation is really needed otherwise this coin will stay at 4 sat and will never reach 0.01$
solarion
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June 24, 2017, 06:09:01 PM
 #15608

I think without a lower rate of inflation, Zeitcoin will not stay at 4 sats, but will continue to decline.

Proof Of Stake - Mine without wasting power. /\ Tek - 500% /\ HoboNickels - 100% /\ PhilosopherStone - 50% /\ ZeitCoin - 15%
warbird023
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June 24, 2017, 08:33:15 PM
 #15609

Due to our recent price spike a month or so ago.

Their are many members that feel going to ULI , is unnecessary and want to stay at the 5% forever.

It has come to my attention, that some of those plan a split (like ETH/ETC) once ULI goes into effect , basically causing a civil war in the Zeit community.

I personally feel ULI would have helped ZEIT reach its Destiny sooner than staying at the 5% rate.
However due to my inability to actually get the ULI activated and the possibility of splitting this great community in half.

I have no choice but to withdraw my future efforts to get ULI activated.
From here on out , my only purpose here will be keeping the snapshot updated.

I asked Zeitcoin to remove the ULI from the OP as no one will be attempting it's activation now,
and the 5% rate will be Final and Forever as originally intended.

I still Believe ZEIT will reach it's goals with the help of the Knights, it will just be at a slower pace.

Good Day, everyone.


 Cool


I think ULI is the right way.
and if its not possible in one Step, lower the Inflation Rate to
I say 1% first and doing the remaining Work later.
Rent_a_Ray
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June 24, 2017, 09:35:09 PM
 #15610

I don't understand the actual discussion. ULI was voted by most of the active members. We should continue with ULI.
My vote 'against' ULI (and all necessary code changes beside ULI) based on security concerns.
Additionally I had no time for the testing of all possible attack scenarios.
It wasn't a vote against the economic advantage.

This version (2.0.2.0):
https://github.com/zeitcoin/zeitcoin/tree/527aca946344dce14de33f2fc0f127c305f16856
is the latest with most of the ULI features before the rollback to 2.0.1.7
There are some issues - but nothing that can't fixed by someone who knows what to do.

I want to apologise for my absence in the last months and in the coming months, but I have to manage some important things in my real life.

We should hire someone who is able to improve the code changes.
And 'We' means 'The Knights' - not any single person.  Wink

Cheers,
Ray
solarion
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June 24, 2017, 10:27:10 PM
 #15611

Thanks for the clarification Ray. Confusion seems to be the order of the day and this post definitely goes a ways toward dispelling it.

So it seems, we need to find a dev to complete the work begun by Ray.

I'm in for 5m Zeitcoin or equivalents. More if needed to get this done in a timely fashion.

Proof Of Stake - Mine without wasting power. /\ Tek - 500% /\ HoboNickels - 100% /\ PhilosopherStone - 50% /\ ZeitCoin - 15%
AztekPhoenix
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June 24, 2017, 10:29:49 PM
 #15612


We should hire someone who is able to improve the code changes.
And 'We' means 'The Knights' - not any single person.  Wink



I already hired pollforall to write the ULI update and this is the PM , I received from him today.
Quote
today or tomorrow will send you source and win wallet.

But one of you will have to look over his code and then import it into your github if it passes your requirements.

I understand Kiklo has been searching for a developer to take over for you,
but according to Kiklo , they are not asking for more money, they are saying they don't have the time, much like yourself.

So if you won't help with testing the ULI code, what developer do you recommend that can be hired to test code and install it into your github.
From what I understand, Kiklo already contact Tranz, Presstab, GhostLander, MaNi,  & Noise23 with no luck.

So unless you got someone in your closet, if you won't help with the github there is no one left.
No offense , but an hour to look over the code , an hour to compile , let the computers run some blocks, my guess is you are looking at 4 to 8 hours max.
Spread out over a week, only a hour per day and done.  Did you want the Knights to pay you for your help, as doubtful they would have a problem with that.


╥AztekPhoenix
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