The Zeitgeist Movement is one of the most recognized and profound global sustainability advocacy groups on the planet. They are truly a global force made up of various chapters from around the world which all seek to improve the quality of life on earth. TZM’s goal as stated on their website “is to implement an economic model that follows a truly scientific train of thought with respect to the technical factors that allow for human propensity, public health and environment responsibility over generational time.”
Even though Zeitcoin is not officially endorsed by TZM, the coin has been getting an overwhelming response from the community. Due to the fact that The Zeitgeist Movement is a leaderless group with no central authority, its nature is perfectly aligned with cryptocurrencies. The community behind an altcoin is always the mediating factor between success and failure as the sum of its parts vote on matters of its success with their satoshis and hashpower.
On March 1st when Zeitcoin was launched, over 20Ghs flowed into the network within the first few hours and once the coin hit an exchange, there was a large pop in prices before things stabilized. The huge demand for this coin is no surprise when you consider the fact that Zeitcoin is a Proof of Work/Proof of Stake hybrid coin starting out at 25% interest in the first year with a block reward halving every week. This coin will only be mined for 6 weeks before the PoW reward ends which has proven to be a stabile method of transforming a hybrid coin into being a purely PoS coin with healthy long-term increases.
Zeitcoin has noble ambitions and is seeking to adopt much of what TZM stands for while integrating the world of cryptocurrencies into it. Anything could happen with Zeitcoin once a fair and distributed network of ZEIT is established. If more Zeitgeist supporters come to see the value that crpyotcurencies offer to society, Zeitcoin could become an overnight success which it seems to have already become.
Source used by permission and originally posted at: http://altcoinauthority.com/2014/03/zeitcoin-movement/