I've just bought some ZEIT on YoBit because of the low price and I like the idea/community.

However, got a bit concerned since coinmarketcap doesn't list YoBit as a ZEIT exchange. Did I just buy somebody's rip off fake coin?

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

 


Kiklo's Premium Blockchain Snapshot Service

Updated Snapshot Link
BTCTalk :  https://bitcointalk.org/index.php?topic=1910100.msg18966852#msg18966852
or
Cryptopia : https://www.cryptopia.co.nz/Forum/Thread/1336?postId=7831


FYI:
If your wallet is not Encrypted, ie: you don't have to unlock it to stake.
It can slow down your initial syncing dramatically.
To correct this you can encrypt your wallet or if you don't want to encrypt your wallet,
run zeitcoin with the following parameters, zeitcoin-qt.exe  -gen=0  , this will sync without trying to stake, once you are fully synced ,
restart zeitcoin normally to stake your coins,

@msdoter7

In reference to the incentive to stake question.

The Knights will have to stake to protect their investment.

I will pay 250,000 ZEIT every month to 8 nodes (non knights) that will stake 24x7.

In addition , the ZEIT Joust Game will pay out a 120,000 ZEIT per week to the three addresses that win the Block Joust.
(Anyone can win, even exchanges)

So is this not enough incentive to stake, plus the facts the price of the coin will no longer go down in price only Up.

So those that do accept the 250,000 per month, if they wait til ZEIT reaches a penny would have received $2500 for staking monthly. 

One year of doing this will cost me ~42 million ZEIT directly out of my pocket and I will do it gladly so we can defeat BTC.
And if needed, I have enough coins to go a 2nd year, before it would compromise my status as a Knight.

So msdoter7 what do you think?

 

Thanks for your comments.

1% is still too high,
ZEIT is such a massive coin that even 1% would be over 6½ million coins per month. (At current staking rates)
That in 1 month is six times the total supply of other coins.

We would have to go down to 0.0005% (0.000005) per year,
that would leave us only gaining ~ 180,000 new coins per year (basically ~15000 new coins per month).

The stronger we tackle the inflation issue, the sooner our value per coin can begin to increase.
Even if we did it today, it is still going to takes months before it has a noticeable effect in the markets.

Lion brought up a good point that in TRW, 5% interest on Bank accounts was the norm.
However the reason the banks were able to do that is they were loaning out multiple times the amount of their deposits and Charging Higher interest rates on those loan above the 5%, we have no such system in place here, which is why we have to control inflation to offset the damage that an ever increasing supply can cause.

 

FYI:
It all comes back to this,
Do you want a coin with very little inflation , that the Price can rise per coin?
or
Do you want a coin with 5% inflation, that the price is always in decline?
You have more coins but each coin has less value as time goes on.

FYI2:
Look at all of the people buying up BTC, just to hold receiving 0% interest,
we have to go ultra low inflation , if we are going to beat BTC. (There is just no other way around it.)

FYI3:
Monday BTC generated only 1,728 new coins
Monday ZEIT generated 8,623,833 new coins.
Our price will forever be crushed by the inflation, unless we switch ,

After the switch to an ultra low inflation rate of 0.0005% per year,
BTC still generates 1,728 new coins
ZEIT generate only ~500 coins per day.
Our price verses BTC & Fiat would rise.  

Quit being a crybaby.

I play on this site, along with other sites that do take deposits. And as far as I'm concerned, I could give a rat's ass if this site is provably fair. Why? Because I haven't made a single deposit to the site. Why not? Because it's a FAUCET site.

So with that said, I have earned enough from playing games to be able to level up my account. I have even made a withdrawal DIRECTLY to my FaucetBox account, just to prove that the site pays. And guess what? It was an instant withdrawal.

If you're trying to call a website a scam, especially a faucet, make sure that the site doesn't pay its users. Because that's what makes a faucet site a scam, NOT that this free game site is not provably fair.

Your argument is completely invalid. Oh, and

TYPING IN HUGE ALL RED CAPS MAKES YOU LOOK LIKE AN IDIOT.

If you are on a dual processor your average should be ~20 to 25% cpu.
But here are some previous post to help decrease cpu usuage.

To keep your stake,
In coin control , every few days or weekly, look at the blocks , click on confirmations, this will sort the blocks, select some of the ones with the lowest confirmations, and send them to your default receive address (You will have to copy & paste your default receive address into send field, no way to add it your send address book Yet.) By selecting the lowest confirmations you only combine coins that have staked recently and they won't lose more than a few days from their maturity.

Or if CPU is more important than POS Stake , then combine them immediately.
Lower the # of Blocks , less CPU it uses.

Below is a post that confirms it works.
Follow up to using coin control to reduce the amount of blocks and reducing cpu use.  It works!
_______________________________________________________________________________ ____
2 weeks ago I had over 8000 blocks and my cpu was at 19.3%
I started combining blocks with the goal of getting down to 100.  There was no noticeable change in cpu until I got down to 900 blocks, this takes time if you want to preserve your coin age and I figure I will be down to about 80 blocks in 2 more weeks.

Currently sitting at 140 blocks and cpu use is at 5%, which is a big improvement - thanks for the tips!

Anyone who has high cpu use with the wallet might want to use the coin control and start consolidating the blocks into a smaller number, it's definitely made an improvement for me.
_______________________________________________________________________________ ________

Only other factor would be if you are running it in a VM.

 

Also voting for Joe Lao, the dev of Magi.

Friendly and nice dev that have good ideas!

Does any one know if pool payouts are delayed? My last payment from the pool was 7/21.