3/20 (Zcash Minor Grants approval poll (October 2023))
That’s what I meant. Don’t tease ZCAP with over-excessive suggestions. Everyone is already very tense.
it doesn’t have to fully fund. the model needs to be in place years in advance so it’s clear zcash understand the issue and shows they intend to move to and txn fee model. and if third parties can tap into the gas/fee model then it at least opens the door to third party development.
so if there was a way for nighthawk or others get get fees it reduced and hopefully eliminates their dependence on centralized funding. it moves to customer funding.
i tried to send a 30 cent token out of ledger. the gas was 1.5. people pay high gas for etheriem and that is what funds their ecosystem and increases the token price. if they reduce the gas, then the burn would decrease and the price would collapse. so we have issuance with no gas/burn and that a) makes it so outside parties can’t build and b) there is no foundation or fundamental support for the zec price
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At 30$ after halving this is not going to be enough to run the ECC. So, either they find another stream of revenues or they cut costs. 30$ right now looks optimistic. 20$ could be a future bottom stable price for ZEC.
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there is no bottom without a viable economic model. if we can get a fee/burn mechanism and add privacy stablecoins we could actually have an ecosystem that people actually want to own. then instead of hedging by selling zec for fiat or bitcoin or etheruem we can actually keep money in the zcash ecosystem by selling zec for a USDz. we need to keep users inside our ecosystem at all costs. this is what keeps transaction costs down and allows use to scale up.
i’ve heard it over and over here on the boards that hedging makes sense. yes it does. and when 65% of the people live paycheck to paycheck, the best hedge for them is to never own zec. that means if i get paid on friday and my electric bill or rent is due in a week or two. it’s crazy for me to own zec because it’s too risky. it’s even too risky to buy coffee until we get a better economic model and we need a larger ecosystem. zec is gold. private stablecoins are for daily transactions
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I’d hate to think $20 is a long term possibility but responsible management would require us to consider my proposed funding model under a $20 price.
At $20 after the halving:
- $5,259,600 for Miner’s reward;
- $2,629,800 for “Major Grants”;
- $2,235,330 for the Bootstrap Project;
- $1,577,880 for the Zcash Foundation;
- $657,450 for QEDIT;
- $657,450 for Shielded Labs;
- $131,490 for Zenate.
This is super tight but I feel under this model all recipients could still use those funds to deliver value.
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Following the logic of your funding model we are going to reach 100% in the next halving.
@Cris83 I’m not advocating for a 100% dev fund. I’m advocating for a 40% miner’s reward and 60% dev fund.
You know what I mean. Project this logic in 2028
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Exactly. This is the crisis of Zcash, the protocol does not incentivize - arguably it disincentivizes - people from building great use cases/ viral products.
Why do I say this?
It is because the protocol has no mechanism to reward the builders of a great application based on usage.
With that point lost, Zcash is left in the dilemma where it currently is suffering… Small groups of people are making discretionary attempts to pay for (what they hope become) great applications before the outcome is known 
Speculative project funding is a bad model because it’s logic is backwards, it seeks to explicitly assign value before value exists, rather than compensating value as it is demonstrated.
We absolutely shouldn’t be thinking about doubling or tripling down on the backwards model of today - Speculative discretionary project funding.
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No need to wait, we should do 120% tomorrow, let the miners return the coins to the fund. Zcash will immediately become 4 times better.
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My logic is:
- How much mining reward is require for Zcash to retain the highest share of equihash?
- How much does it cost to develop Zcash and produce all the features/tool users want/demand?
@Cris83 @artkor you are aware generally it’s a bad idea to lie and/or create false narratives about my intents? I’ve stated on multiple occasions I have deeply thought about how much funding should be allocated to the miners to keep the network secure. My opinion is 40% is enough.
If either of you wish to debate this in good faith please let me know why 40% isn’t enough and provide arguments to the percent that is enough. Because arguing the right amount is 80% or 90% or 100% are lazy answers and don’t actually try to calculate the require miner’s rate based on needs.
ZEC just won’t pull your offer, that’s the problem. You want to create more funds for development, but you are proposing the exact opposite. If I didn’t know which days of the month ZEC drops the most in this low-turnover market, I would agree with you. But I know this systematic nature and I understand what it is related to. I’m sure ZCAP will not vote in favor of this decision, so I’m calm as a boa constrictor and allow myself a joke, but I’m not trying to offend you, sorry if you took the joke wrong.
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Which days? The days miners sell the ZEC or the days devs sell the ZEC? I’m not sure what your suggesting.
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I’ve said too much already. Who has eyes to see will see.
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Please enlighten me. It sounds like your short trading the market before the dev fund recipients sell their ZEC. GREAT! But giving more to miners doesn’t solve the problem, they will also their ZEC 
. Maybe when miners sell is simply less predictable or in smaller batches?
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I am pointing out that , a priory you cannot know, what is going to be the hashrate after such a drastic shift in reward allocation. Unless you come up with a function that describes how the Zcash will be safer from this operation I will keep pointing out that you are selling smoke. I work with specs, physics and A/B testing procedures. I leave opinions aside and use models
IMO, the % should depend on what the ZCAP thinks of the performance of the devfund recipients and maybe coin price (but not as much).
This mirrors how companies reward their employees with stocks.
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no one ever gets rewards when the price is down 90%.
why is it so hard for the community to get behind and focus on a few very simple things that would create a foundation for growth and trust.
-
a gas/fee structure that over
time will replace block rewards and also help to decentralize development -
a platform designed to provide privacy for all regardless of the currency they choose to transact. zcash as private gold, Zstablecoins for daily transactions, UDAs.
If Zcash can credibly show its committed to these two critically important things, it would offer anyone looking for a viable economic ecosystem based around privacey a reason to own ZEC.
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It is because what you suggest is very hard to implement with privacy: both legally and technically.
since when is hard a reason to not do something that would create value? also, hard is a good thing. that means it’s hard to copy. that is unless zcash just doesnt have the skills which is more understandable.
being afraid of the legality is a little bit of a scary answer because that tends to incriminate zec doesnt it?