Antwort auf:

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I did try using *time several different ways and all were
totally unsucessful!
The Elevator wouldn't move at all or it occured
instantly going Up or Down .

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The "problem" with time is, that you multiply you distances with a varying value (depending at the framerate) and you will never get the exact stoppoint (e.g obj.y=1200, but obj.y=1200.04). So you have to stop at the position, the lift is higher/lower your stop-position (depending of the direction).

The most important thing why you have to use time*speed_constant is: on you pc it looks cool - on an other the elevator maybe needs 10 times longer or 30 timer less time.