Announcing Ycash, The First "Friendly Fork" of the Zcash Blockchain

I have some ZEC in Trezor, how to claim Ycash?

For some options, see:

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Hey, Ycashers! I’m happy to see the development plan you recently posted. Some of those (especially the viewing keys work) might be re-usable for Zcash software. I hope the work goes well! :slight_smile:

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How’s ycash doing? Price is so low…hashrate is dropping also its not even profitable to mine…

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You can track some of the projects that we are working on here:

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Looks nice,

You are really doing some good stuff. btw

I do not work or am in anyway connected with ycash, except that I have already offered to make my PoW research available to them, RandomX - for no cost

Yes it has, you just haven’t seen the results yet :wink: [I have also got some basic progpow stuff and an asic friendly algo that works with harmony mining.]

Seriously though, I will pass over all my work when you are ready for it.

You have made some really nice progress on the tech you have been working on. keep up the good work.

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Ycash is affected by the Zcash security annoucement published within the last 48 hours:

All Ycash users should upgrade to YecWallet v2.0.7 or ycashd v2.0.7 (both just released today) as soon as possible.

YecWallet v2.0.7:

ycashd v2.0.7:

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Seems you are way off with your prediction, lol. Just checked, it’s traded at US$ 0.25 these days.

Is the Ycash Foundation still a 1-Man-Show or are there any new board members on Board allready?
And out of curiousity, does someone really hold his YEC until today?

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Yec is fading…20 char

Just readed about the IRS guidance about forks and that these are a taxable event.
https://bravenewcoin.com/insights/new-irs-guidance-says-bitcoin-forks-and-airdrops-are-taxable-events

Makes me think how this turns out with the Y-cash fork and how ZEC holders are taxed for it?

I’am not very familar with the US tax system as in my country we are taxed only for real generated profit events, hence why i’am curious how the Ycash airdrop turns out now for US ZEC holders at the time.

Nothing changes, the airdrop is taxed as a gift in the same way you would calculate mining Rewards
The problem is that the IRS didn’t Define who exactly this applies to other than “everyone even if you don’t know about it”, whether or not they’ll change this I don’t know (it’ll probably take awhile anyways)
It’s still all based on the honor System and you can get in as much trouble from not claiming taxes as you can from claiming stuff that you have don’t actually have
In this case however the ability to claim y cash is currently considered control over the asset even though you may not have it or may not have actually claimed it because you didn’t actually know about it :neutral_face:

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Ok, thx, quiet different than here. So how much taxes would this mean to someone that had hold 100 ZEC at the time of the fork?

You go by the price that it was traded at the exact time of the fork or if it wasn’t being traded at that time, the opening price

I think Ycash was around $3 maybe so taxable income would be like $300, the amount that you usually pay in is somewhere in the 20% range depending on your income bracket so $60 goes to IRS either deducted from your return if you have one or simply paid if not

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I’m solo-mining it, just because I can :slight_smile:

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i sold my ycash within 4 hours of the chain going live. Precisely because of the fake sales smile on the 1 mans face who is the only person who cares about Ycash aside from the casual support from the Zcash devs.

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they cant tax us in canada unless profit is realized in CAD

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I think you judge Howard a little too harshly, he’s got another project going but he’s still a part of the Zcash community too

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Why the vitriol? Now you are criticizing my smile?

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Hello block 629558, all yr YEC r blng 2 me :slight_smile:

Solo-mining with a 1060 - heh

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First Congrats on a block solo mining!!! I was lucky enough to get two blocks Zcash solo mining before I pooled, so I remember the excitement you’re feeling!

Second, I’m sorry that it’s only worth tree fiddy

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