[ANN] Zimstake (ZS) - PURE POS - No IPO / PreMine - SHA-256

[uki]

i already have but you ignore my post completely and only reply to the part about comparing coins.

Anyway 'your opinion' that its because the dev's lack of clarification is wrong in my opinion, because it has been like this since day one.
Its not as if CG suddenly got inactive, he's always been busy behind the scenes.
So thats why you statement and arguement are false that its due to his absence.
Its due to people expecting a rise, and a chain reaction dump after that.

Twist it however you want..

SrsCrypto, some free advice, with a bit of background. I guarantee it will be worth the price I'm offering it at, and I think it might be worth more than that.

First, the background. My introduction to CryptoGir was the SHA debacle. He did good on fixing that, up to the point he discovered the hidden premine. He's a bit spotty on communication, as you and I well know. But he's a good sort. I mined ZS during the PoW phase and held my pittance until a couple weeks back. I sold because I needed money, and will be buying back in now that the price is down. My sell had to do with making the best of several bad choices, rather than anything fundamental to the coin or the DEV. Both of us know this coin's history and it's dev.

That being said, a new guy or an investor who does NOT have our background is going to compare this coin with others and see the periods of silence as abandonment. Not because of CG, but because they (and you and I) can easily name off ten coins where the dev going silent was the end of active development. CG isn't like that, and again you and I know that. But not everyone does.

So, here's that free advice. It's difficult. Be civil REGARDLESS of how stupid the post appears to you. That will do more for the coin's image than all the refutation and red ink.

A lot of my background in life is customer service. It's a low paying, ugly, thankless job. Because despite the old adage, the customer is seldom right, often scamming, stupid, and insane. But the customer always wins. Without them, no business.

Tell CG that a weekly update at a scheduled time would do more for this coin than a whole lot of other things.

To the rest of you, name ONE coin that didn't drop the first few days it hit a major exchange in the last six months? Profit taking is going to happen. If you don't panic, then it will recover. If you, collectively, panic, then YOU kill the coin. Not the dev. Remember, this is an OPEN SOURCE project, and it's one that creates money. Go find ways to make that money good for something besides dumping on an exchange. There is only one person stopping you, and you see them in the mirror. Even if you take it in a direction that the dev's didn't plan, see, or approve of, it will STILL raise the value of the coin. Real world acceptance goes way far.

Thanks Biomech for saying loudly what I was trying to state on Friday.
I believe things can turn positive for ZS, but we need to realise each side dev and the community that communication must be smoother than it was up to now.

[raskul]

i think it's very sad when the price of your coin plummets (YOU DID A GIVEAWAY OF THE COIN*)
all you can think to do is post stupid little animation on the forum page... what does this say to serious investors?

remember you need 10BTC to buy up from the sewer on mintpal.
It's always the way with free coins and giveaway coins. You have done nothing more than turn Zs into a free coin.

Stake is OK, it's free - but it's implemented to be controlled, so when someone comes along begging for votes and giving away stakable coins for NOTHING - Some folks need to get a grip of themselves. CG shoulda put a stop to all this weeks ago when I mentioned it.
All those coins you obtained to give away? how much BTC worth?

I still have my 9000Zs and I would like to buy stuff with it.


*blame* GTFO

1000 BANANNA GROUCHY GUY DEFENSE WALL!!

not grouchy at all. I've not lost out an anything, just stating for the record, I advised it as a bad idea to give away free coins.

https://bitcointalk.org/index.php?topic=605310.msg6678087#msg6678087

thank you Shurugwi
how are you getting on? what mining?

[djslick]

hope CG's personal issues have a good resolution.

and can you 2 or 3 people repeating how ZS is currently rallying, or how we're about to skyrocket, and how you'd be stupid not to BUY BUY BUY NOW NOW NOW. can you please turn it down a notch? or 10? it's so transparent that clingwrap's getting mad you're taking it's job.

just get a grip. we're not moving up or down, we've had half a BTC volume in the last day, we're waiting for CG to get back to us and let us in on what he's been up to.

it won't be delisted from mintpal, but it's going to be pretty embarrassing when a 5 million count coin hits sub 100 satoshis.

so CG needs to get his shit taken care of, fully, then get back to us in full force. 

[SrsCrypto]

If there is a Zimstake multipool how many of you will point your miners at it?
And how many are prepared to donate a small amount of btc towards getting it up?

we only need .5 btc in total.

ZimStake multipool creation fund:
1MUPqK2THXTDbUAvvMumhtynfGQyyTiddF

[IceColdTommy]

If there is a Zimstake multipool how many of you will point your miners at it?
And how many are prepared to donate a small amount of btc towards getting it up?

we only need .5 btc in total.

ZimStake multipool creation fund:
1MUPqK2THXTDbUAvvMumhtynfGQyyTiddF

I thought community didnt like the idea for making a multipool

[SrsCrypto]

Thats what im trying to find out, if there is incentive or not.

You guys asked, so im giving you the opportunity now.


I have spoken to ChunkyPool, and we could have the multipool up in the next couple of days if we can get the 0.5btc together.

[mogonzo]

Hello Zimstake community!

I'm the Director of Operations for Chunkypools, and I just wanted to add a bit to what Srscrypto has said here.

Chunkypools offers a service called "linked coin communities" multipools, where the coin communities of many coins mine together but are each paid out in their respective coin according to what port of chunky they mine on. Each coin community is given its own unique web address to ensure you maintain your own identity.

We currently operate multipools for WhiteCoin, HYPER, UniveristyCoin, and NAV (previously Summercoin2.0).

A healthy multipool can be a strong indicator to potential investors as they provide a regular form of buy support on markets. Each day, chunky converts what its community pools mine on exchanges (according to our best to mine profitability/daily return metrics) into a community's coin, which provides both volume and price support.

We have a team of dedicated traders who help oversee these buys, and we pride ourselves on giving consistently above average turns to our users.

We currently offer mining across scrypt, x-11, and SHA-256 algos.

We're also constantly improving our platform, with numerous updates planned, including:

• Community specific hash reporting
• A new layout
• Added coin exchange rate figures
• New coin algos (X-13, X-15 planned soon)

We also pride ourselves on forming personal relationships with our miners, we're a community. We respond to support requests and take hash recording very, very seriously.

We ask for a .5 BTC fee for the creation of these pools because they do take considerable man hours to build and maintain, but it's a one time fee and after that we will maintain the multipool for so long as miners are using it and the coin is active on exchanges.

If there are any questions, please don't hesitate to ask.

Best regards,

Chris

PS: I'll be out doing a bit of yardwork in the sun this afternoon, but I'll be checking btc and IRC regularly.

[Biomech]

Looks like the good news is sparking a rally, time to buy and stake!(:

This has been said many times, "time to buy.... time to buy" but yet I didnt see anyone buying the coin, only massive dumps almost all the time and the price goes down to the earth every single minute

Ok, I try to follow my own advice and not be condescending, but...

How the HELL do you see a dump without seeing a buy??

This is not my main coin. My main coin is TEK. I ALWAYS have a bit of dust at a ridiculously low price sitting on cryptsy just in case some moron dumps. You think I'm unique?

I guarantee you there are speculators doing just that.

[djslick]

re: multipool

i don't have hashing power, but i'll consider donating BTC. i'm also looking to see who wants to mine on it. and more importantly, who is providing exactly how much hashing power guaranteed. running your own multipool is hard because you actually have to have enough hash power to find blocks. if you're not finding blocks it's a giant moneysink. profit-switching relies on pretty frequent blocks being found, as the coin could be changed every 15 minutes. if you didn't find a block for whatever coin it's mining in those 15 minutes, then it's pointless.

i'd say at least a gigahash scrypt should be what we're aiming for, if we can't consider that a realistic goal, then we might be premature with this idea. we need heavy-hitter miners to make it work.

[raskul]

Looks like the good news is sparking a rally, time to buy and stake!(:

This has been said many times, "time to buy.... time to buy" but yet I didnt see anyone buying the coin, only massive dumps almost all the time and the price goes down to the earth every single minute

Ok, I try to follow my own advice and not be condescending, but...

How the HELL do you see a dump without seeing a buy??

This is not my main coin. My main coin is TEK. I ALWAYS have a bit of dust at a ridiculously low price sitting on cryptsy just in case some moron dumps. You think I'm unique?

I guarantee you there are speculators doing just that.

i should also add that mintpal will not delist - unless you 'orrible lot just let the coin die  

[SrsCrypto]

i don't have hashing power, but i'll consider donating BTC. i'm also looking to see who wants to mine on it. and more importantly, who is poroviding exactly how much hashing power guaranteed. running your own multipool is hard because you actually have to have enough hash power to find blocks. if you're not finding blocks it's a giant moneysink. profit-switching relies on pretty frequent blocks being found, as the coin could be changed every 15 minutes. if you didn't find a block for whatever coin it's mining in those 15 minutes, then it's pointless.

i'd say at least a gigahash scrypt should be what we're aiming for, if we can't consider that a realistic goal, then we might be premature with this idea. we need heavy-hitter miners to make it work.

agree 100%, i don't have hashing power but ill donate btc if there are enough people guaranteeing hashing power

[Biomech]

If there is a Zimstake multipool how many of you will point your miners at it?
And how many are prepared to donate a small amount of btc towards getting it up?

we only need .5 btc in total.

ZimStake multipool creation fund:
1MUPqK2THXTDbUAvvMumhtynfGQyyTiddF

I'd point a gridseed at it. Probably more than that down the line, but right now that's what I got that can move around

[raskul]

If there is a Zimstake multipool how many of you will point your miners at it?
And how many are prepared to donate a small amount of btc towards getting it up?

we only need .5 btc in total.

ZimStake multipool creation fund:
1MUPqK2THXTDbUAvvMumhtynfGQyyTiddF

I'd point a gridseed at it. Probably more than that down the line, but right now that's what I got that can move around

if i can be arsed to set up a coupla zeus blizzards, i'll point em to it

[ChrisLandin]

It depends on what algo it will use.

I can only use x11, 13 or 15. Scrypt runs too hot for me and mining sha is pointless with my rig.

I should point out also that I only have a small rig too a pair of 7970's so I wouldn't be the biggest hasher but I would support.

Cant donate btc as im clean out  

[raskul]

It depends on what algo it will use.

I can only use x11, 13 or 15. Scrypt runs too hot for me and mining sha is pointless with my rig.

I should point out also that I only have a small rig too a pair of 7970's so I wouldn't be the biggest hasher but I would support.

Cant donate btc as im clean out  

mining SHA is never pointless 

[djudjson]

Cant donate, because I dont have any btc left, but if I can earn some coins by mining I can point one sha256 minerfor start (180GHS)

[FreebieZoner]

I'm holding coins so no btc here sorry guys

[SrsCrypto]

It depends on what algo it will use.

I can only use x11, 13 or 15. Scrypt runs too hot for me and mining sha is pointless with my rig.

I should point out also that I only have a small rig too a pair of 7970's so I wouldn't be the biggest hasher but I would support.

Cant donate btc as im clean out  

they currently offer mining across scrypt, x-11, and SHA-256 algos.   (X-13, X-15 planned soon)

[Tach916]

I can throw `2-240GH SHA and 2.5MH scrypt at it.

[mogonzo]

re: multipool

i don't have hashing power, but i'll consider donating BTC. i'm also looking to see who wants to mine on it. and more importantly, who is providing exactly how much hashing power guaranteed. running your own multipool is hard because you actually have to have enough hash power to find blocks. if you're not finding blocks it's a giant moneysink. profit-switching relies on pretty frequent blocks being found, as the coin could be changed every 15 minutes. if you didn't find a block for whatever coin it's mining in those 15 minutes, then it's pointless.

i'd say at least a gigahash scrypt should be what we're aiming for, if we can't consider that a realistic goal, then we might be premature with this idea. we need heavy-hitter miners to make it work.

Hey djslick,

These are all great points. In regards to the maintenance of the pool, that's something that we at chunky would take care of ourselves. In regards to profit switching, we use our own custom in house metrics. We've been mining and trading for a long time, and in my own experience I've found it's much more profitable to switch once or twice per day only. Price fluctuations as well as network fluctuations are common.

We maximize our returns to our users by employing two principal tactics:

1. Ensuring no hashes are wasted.
2. Avoiding dumps on the alts mined wherever possible. We generally list as sell orders rather than use the buy column.

#2 gives you the added benefit of reducing any potential negative impact on other coin communities. These methods for running a multipool actually wind up making is to that the alts being mined are granted an easy rise in price and added volume on their exchanges, while giving buy support and volume for your own coin.

For choosing what coins we mine, we factor in a few things:

1. Exchange volume: Are people actually buying the coins we mine? Often the top profitable coins on coinwarz have no buyers.
2. Network difficulty: block times are a serious issue. If we're not going to find a block within 6 hours, then daily returns can be severely impacted.
3. Market Depth: If we're forced to dump (IE, a coin we're mining is on a downtrend), will the end of our dump significantly impact the price?
4. Actual returns: Is the current price of the coin along with its difficulty in line with good average returns?

The community co-mining aspect is also what addresses the "getting started" issue. We already have 475 MH on our community multipools right now, and our unique coding allows for your community's hash to be combined with what's already being mined by our other users.

1 GH is an excellent target and would have a significant impact on markets. 1 GH is also enough to mine very high difficulty coins.

All the best,

Chris