Things should’ve just remained as was proposed during genesis block. 4 year funding, 2.1 million ZEC, no more funding past the first halving. This new dev fund request has brought in a shitstorm to the community which was completely unnecessary, and very selfish if i might add. ZEC holders and miners have put their faith in this project and now having to cover more losses yet the price of the coin seems the be at the bottom of the list of priorities, if it is even a priority. I don’t know how to propose a model or create a prezip or use Github. I just wanted to be heard that’s all. A renewal of $1.1 million per month in funding being requested for further advancement yet no clear detailed plan of action and another few months of back and forth until the final decision is put in place.
I believe there are others that agree with you and I think that proposal has been made: [ZIP 1001] Final: ZIP proposal Keep the block distribution as initally defined. 90% to miners
how do you get monero without passing through KYC somewhere along the line?
Don’t see any monero option on LBC.
Is monero asic-resistant? How much monero is mined in china?
It is asic resistant. Actually they’re deploying soon their RandomX protocol which will further fight Asic mining. I don’t own any XMR however. My choice of investment for shielded transaction concluded with Zcash.
can i use monero to buy ice cream at baskin robbins? bitcoin has bitpay; we have flexa. willing to bet XMR, and all other cryptocurrencies not available would be okay with flexa support. people can now use zcash as actual currency in the real world. this is a huge deal.
Respectfully disagree. Baskin Robins does NOT accept ZCash or Bitcoin or Litecoin or whatever. There is a third party in the middle that is taking the crypto you are sending in, converting it to USD, and than pays the merchant for your banana split ice cream sundae. That is not pure definition of adoption. It does drive awareness, but so long as we’re playing by their rules than eventually few whales will accumulate the bulk of those digital assets and than control the market.
Flexa lets ZEC change pockets so good enough at this early stage, but that’s my humble opinion.
Next step is when vendors cut out the middle-man and do it themselves. I’m sure Flexa doesn’t provide their service for free so there’s an incentive and its getting easier all the time.
we’ll agree to disagree. flexa makes zcash more useful than the vast majority of other coins. now, when people ask me “what can i buy with zcash” i can point them in the direction of well known retailers. most people don’t care about “disrupting the old system”. i’m sure they do like ice cream, tho
I think he meant https://localmonero.co/ - I have used that service both with KYC and without. I would advise you do your own due diligence though.
Check out my randomx thread for monero ASIC resistance. I think that is beyond the scope of this thread. I would be happy to discuss this over there.
And to try to keep this back on topic @mista.mist I would love any feedback on my proposal in that thread Joshs linked. Do you feel it accurately describes your voice?
There are some exchanges out where someone can get monero. Tradeogre is one for example … Not sure about all the others monero is traded as i never have hold monero, but seen on Tradeogre that it can be obtained without KYC that’s why i guess on several exchanges it is as well possible.
While this in theory should be very true and the market should reflect it, we somehow see the opposite.
ZEC is the very worst performing currency in the top 25 the last 7 days (-4.79%) and this with the flexa announcement, which in my opinion is more than strange.
On the other side Monero without any news the last 7 days (at least i wasn’t able to find any!) is the 3rd best performer for the last 7 days with +11.34%.
I have no idea what’s giving Monero that boost compared to Zcash’s but there must be a reason.
Possible reasons i could imagine:
- The flexa news are not really considered good news, could be due their somehow affilation with paypal, mastercard, visa, google, american express. More unlikely.
- could be that the “Dev Fund Extension” Advertising campaign by the ECC is backfiring and a lot of people change to Monero as a more reliable privacy crypto project (alternative).
Can’t think of anything else that could be responsible for the recent drop we see the last days and the flexa news at the same time. Maybe someone has other ideas …
i’m leaning towards your alternative hypotheses. think some people don’t like the idea of extending the devfund, and ragequit.
really should get the devfund figured out somewhat quickly now that it’s been elevated from forum small talk to something everybody’s talking about. markets hate uncertainty.
ZCASH acquired a negative tint so any news is perceived negatively, I wrote about it 4 months ago when I talked about marketing and its role in the life of a coin, now everything goes its own way, always at such moments people first think about the bad and then o good, the team had to do an accent on the benefits and real gains for coin holders or new buyers, old investors leave the project, new ones do not take their place.
You need a product that will encourage you to buy for use, and not to use for purchase (as is happening now with wallets and goods in stores)
Other statements such as the new protocol and the continuation of financing only from the block I personally perceived as very negative news, as well as the majority, judging by the market.
These news should be presented as benefits:
- the coin is ready-to-be-tied, services are projects and we are ready to offer a quality transition to ensure scalability, and not like it is now 10 billion in 2050, but many will not live to see this year, a statement is worse, I just cannot even think of it now .
- on reward, we managed to do (success card) for a reward of 20% (from which the amount was spent) during maintenance and implementation, now we are ready to continue our funds and amounts from products (we need products that bring profit ) not enough, we are ready to offer to extend the reward, which will be half of the current amount, but now all the money will go to development.
And that’s all, but local success was needed, which I think could be obtained and needed, and now the news does not seem completely negative, there is no feeling that the team throws the community for money, but there is a smooth development avoiding the mistakes of other projects.
It doesn’t have to be rage quiet actually but could be a pure financial decision as well. Some days ago i personally for the first time came to the conclusion that a new 20% dev fund would create additional sell preasure + additional mining centralization.
It’s possible that people consider that the halving effect due this will result in way less than they expected some days/weeks ago. This would be a financial decision in my opinion and not just rage quiet.
Another possible reason could be trust. Having in mind that this would be with the Point of View of a lot of people the 2nd broken promise after the asic resistance (debacle) within ~1 year. It’s quiet possible in my opinion that this could as well play a role. Losing trust isn’t a good thing in crypto space. Here there are for sure some “rage quieters” but as well “the trust disappointed”.
And i don’t exclude the possibility of the ECC advertising campaign itself to be considered more negative than positive. I even warned some weeks ago that advertising a given outcome could be seen negative and backfire badly and seen as manipulative in a process that claims to be honest, fair and a community decision/wish. This advertising campaign with full drums just backfires as well and in my opinion for good reason. It would have been smarter to let the ZF do this job in a fairer way, but done is done.
I personally think it’s a combination of all the above as the downtrend continues, we are at -7.97% for the last 7 days allready as the worst Top 25 performer with flexa news! And as a bonus an “All-Time-Low” with 0.0059* BTC…
Sometimes it just hurts to watch what happens …
Let’s focus on how to hire ECC.
Investors/Markets don’t like uncertainty and negative sentiment. Hence, ZEC is down.
Based on what’ve seen and understood, at this point, zcash needs active development to succeed and compete with other blockchains like Monero, Coda, Bitcoin, Litecoin etc.,
It is time for community to focus on getting terms right with ECC for next 4 years.
Edit:
post NU4, ECC should publish schedule of ZEC sale in advance. This reduces uncertainty around ZEC selling.
If you have not checked zcash foundation stance on dev fund, please do so at zfnd.org
@zooko can you turn ECC into non-profit before new dev fund is active?
You’re smart Alex you know why Monero has been given that boost. And its been this way for the past week. No it isn’t related to any news from Monero. Monero doesnt really need news it is the most established privacy coin in the space, putting aside tech differences. Yes maybe could be a bit of backfiring on us due to the ECC dev fund extension. But the real reason, in my opinion, what we’re looking at is the definition of Adoption. This is what demand looks like. Since the IRS has been serving thousands of scary warning letters to their citizens it basically caught everyone by surprise. And rumor is that Coinbase has been feeding their database of users to the IRS, and the exact same thing is happening in the UK as well. Investors are parking their wealth in Monero. It is the only thing that makes sense in my mind for such stability and positive performance for XMR. Sucks that ZEC didn’t grab a single piece of that pie. Let’s keep the science experiment going though Sonya! 