Its not what I want, its how it is designed. Maybe you dont understand the design? But one simple thing makes it work as it is intended which is as an asset to protect owners from inflation.
21m cap - This makes it a “price go up” inflation asset (it should go down in deflation) once people trust it as a SOV. BTC will never work as a fiat like currency in my opinion. It will only work as as collateral upon which a fiat can be created on top of. That is what’s happening.
The other problem as to why it wont work as a currency for day to day transactions is
Mining costs. Its not free to transact. It costs a lot to mine. They are real costs. They are not cheap. So transaction costs are too high even if it wasn’t volatile as an asset. So BTC is too volatile without a secondary layer to absorb the vol and its too costly (in real terms).
And ZEC has a new third problem.
Development & maintenacance of the blockchain. Zcash tries to not only hide mining costs inside inflation; but also tries to hide the development and other costs. You cant hide them forever…Unless you plan to remove the 21m cap.
I understand you wanted BTC to work differently (as a currency and not an asset); but its not in the underlying design from my very basic understanding of how money and assets should be expected to work. Zcash has the same problems as BTC from a currency perspective: its an asset, not a fiat currency and it has high costs hidden in inflation which I think BTC will be forced to abandon and replace with fees as they reach the 21m cap. So, yes I repeat myself just as you do. But eventually I will give up as many others have and be out of ZEC if the vision doesn’t change.
I just think its wild you think only 15 years in, Bitcoin is assumed to be understood. The experiemnt is still on going, and if you look hard enough, its looking very very captured. We disagree here, that’s fine. I actually don’t want you to leave the ecosystem but you do what you must.
I abosolute do not think the BTC blockchain evolution is understood because Its evolving…But for BTC as an asset I think it’s much easier to understand. The BTC asset attributes are largely baked in with the 21m cap (but they can likely get the blockchain costs down at some point). I think BTC blockchain will do what I and many others suggest ZEC do. and that is add more assets (like ZSAs, Stablecoins) to get scale and a larger user base. Both BTC and ZEC needs lower cost L2-like layers for stablecoins and I think real world asset will be the collateral along with BTC. But that is a guess. I think of both ZEC and BTC as two main and separate distinct parts 1) a transaction processing use and 2) an asset. Everyone here is focused on transacting privately. This is great. The part that is not great is trying to use ZEC as a fiat currency because it’s not designed to be one. Maybe just maybe you can see it wont work for this purpose just like BTC wont either.
The United States is a Corporation and not a democracy. Believing in democracy is to believe in choice and elected Representatives. Taxes are a similar farce. Slavery for Residents and Citzens.
To identify as Resident or Citizen is to tacitly agree to being an employee of the Distict of Columbia.
United States
A Federal corporation - 28 USC 3002(15)(A). *Additional note: “The United States is located in the District of Columbia.” as per UCC 9-307(h)
US citizen
A natural person, corporation, trust, partnership, or association who has naturalized, as per 8 USC 1101(a)(23) into the District of Columbia as an employee or officer of the “Federal corporation.”
Your name ALL CAPS, is intellectual property of the Crown Corporation- gifted (gamete intra fallopian transfer) by your parents when you were birthed by the DOCtor from the BIRTHing Canal (maritime law). It is your LEG-AL ENS LEGIS.
Ens Legis
A creature of the law; an artificial being, as contrasted with a natural person. Applied to corporations, considered as deriving their existence entirely from the law. -Black’s Law 4th Edition
I have no reason to believe Bitcoin was immaculately conceived of. Likely has Deep State involvement. BlockCHAINS for slaves.
Overall, belief that the United States is a corporation typically arises from a combination of factors, including misinterpretation of legal language, conspiracy theories, and distrust of government institutions. These beliefs are not supported by credible evidence or mainstream scholarship.
Where is the monitoring police on these boards when you need them. This is what I mean when I say this community needs to lose the politics and focus more on the economics and commercialization of the blockchain. Focusing on politics will lead this in the wrong direction.
I cant see how anyone believes what you say is meaningful or valid or supportable on any level.
I think we both agree ZEC is not for spending however, Its for Hold and asset! So please focus on educating the powers that be that ZEC is not designed for short-term holding for purpose buying goods & services for day to day transactions (unless you are oK with losing money). Yes the Zcash blockchain can be once we get ZSAs and stablecoins; but not ZEC.
Now with your “corporation” is bad hat on (even private and public sect corporations have very solid voting and governance), what do you think of the forced 20% dev tax and no voting that we have in this community? We have the worst of both worlds.
Hilarious. Someone involved with Zcash wants to “shut it down.” The truth is not threatened by the light of day. Appeal to “monitoring police” is not the way to discuss, explore or debate ideas and the historical record. Additionally, appeal to AI as an Authority or arbiter of truth is similarly redundant.
I am pleased to see the forum discussing alternative models and ways to improve what hasn’t worked for the project relative to expectation of where we would be in 2024.
It was probably too dry of a joke referring to the control we have to put up with on the boards. With that, I do agree we should try to stick to NU6/NU7 discussion. I dont see what your politics have anything to do with Zcash.
Fact check false. Any interaction with “Zcash” is voluntary and not imposed by force. There are legitimate critiques of the devfund but this is not one.
One USD used to be worth 1.5 grams of gold until 1931. Just over 50 years ago convertibility ended in 1971. Then the US was the “lone superpower.” The dollar has maintained the world reserve currency status and is still regarded as “All-mighty” even as we pass $100 trillion in unfunded liabilities. If other countries could create trillions of “dollars” and give handouts with relatively modest inflation, they would and then people would stay there. We are propelled by the memory of a strong dollar. Your continued emphasis on “stable coins” is short-sighted. They could be fine. But, people would be fine to transact directly in ZEC and hold ZEC if the price tended to increase against other assets. Your harping starts to read like a 6th grade history textbook with no context of the history of money, as if the dollar’s value is fixed by G-d since time immemorial. I’m not at all sure. Best case in the current trajectory is that we have $500 hamburgers in 50 years. That’s if we can prevent a more dramatic collapse as we carefully monetize the debt.
