Even if it is, I think it is a great idea. My only objection is the number of total coins. It will take an eternity for this coin to ever reach a dollar. Each human on earth will have to buy a little over fourteen coins for ZeitCoin to have a 99 billion dollars in market cap. Is it possible? Yes, will it happen? I don't think so. But if you buy a million of them and wait for it to become a dime, you'll get a hundred grant out of less than a hundred dollar investment in about two years. It is worth it.
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What are the total number of coins? The price of each individual coin doesnt matter the percentage of total coins you own is what matters. If you own 1 21millionth of the total supply thats equivalent to owning one bitcoin
Great analogy. I found this article from Feb. on the coin
http://www.digitalcurrencyalliance.com/altcoin-news/zeitcoin-pos-go-ultra-low-inflation/
The biggest question with POS is how do we know there is proper distribution? If someone owns 50% of the coins they could already be completely controlling the network.
I don't see it that way, for me, POS just means more owners to the network and less centralization.
But a big whale who sold all his coins a long time ago has the power to create blocks quickly and rewrite history to regain his holdings
True. I also trust people and believe in karma ☺️ 😊
The whole point of bitcoin was to have a trustless system! If you can trust people why even use a cryptocurreny!
I also believe in the inherent goodness of every person but that doesnt mean I'll let anyone have the keys to my house or the password to my bank account