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RE: Zeitcoin sustains doubling in price in a week today
https://chainz.cryptoid.info/zeit/
The units will be generated from interest on the balance and credited to each participant in the network – this method is called “Proof of Stake“. All you need is a digital “Wallet” and the will to make a difference.
The interest rate is 25% in the first year, 20% the second year, 15% in the third year. After that, the interest rate is consistently at 5%, until the total amount 99 billion units has been reached.
https://coinmarketcap.com/currencies/zeitcoin/
(99 billion divided by 8 billion is 12.375 for each person on the planet. fair enough.)
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The problem with this VERY HIGH INTEREST is the inflation.
The price is sustained by the buy and sell "pressure". If selling orders are over the buying orders, the price should go downwards.
And what happens with the very high yield? People needs some "zeits" to have enough proof of stack, and to receive the interest. Thats what's happening now. But when you receive so many coins in interest, "free", why you should buy more, and why not sell to "take profit". With this type of "giveaway" it is very difficult the price increases because there is "no lack" of coins.