I think it’s pools wallet, if it’s not, we have very intresting question. Accounts - Zchain 22 days, 31 000 ZEC and yes, it’s about 200 Msol\s (20 000 Z9 mini). But this +200Msol\s didn’t go in charts, so it’s some pool wallet or we f####d
Well, you do see it, starting about the end of December and ramping up to the end of February actually. More than 200Msol added while the market was making a serious correction. Went from ~280Msols up to ~530Msols in a matter of a few months. Does that mean “All” of that is ASIC…who knows really, but you can see the increase, and it does align with roughly when people “think” the miners came online at Bitmain. So maybe it is, maybe it isn’t. Anyone could argue either way really.
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I personally think some of these. Or most have been running longer than we think.
I think Bitmain implemented them in small batches.
They are very coordinated, smart about what they do.
Yet gpu miners are still profitable. The future will only tell
First of all,
t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X is not BITMAIN’s address, it’s Zcash Co.'s address for the Founder’s Reward.
And second,
t1ZYZS6ynUDbvht7vH3dMiM3rsAJ1p6EGWC is 2 years old and has mined 2442 blocks.
Now you can’t judge its hashrate just by how many block it mined. You have to know how frequently it finds a block. Recently the address mined 20 blocks for 7 days. Let’s do the math.
7 days = (2.5 min per block) * 4 * 6 * 24 hours * days = 4032 blocks.
That means it had about 0.5% (= 20 / 4032) of the network hashrate last week.
Off the topic, but personally I’m really disappointed at the fact that this youtuber doesn’t know the difference between normal mining pool addresses and the Founder’s Reward address. It literally said that it got only 2.5 ZEC on every mining reward transaction. And he gets to be a Crypto Channel, a voice of the community and a trustworthy source for the debate? Such a shame.
Edit: I’ve been tracking BITMAIN’s private pool for quite a time. You can check it here.
https://forum.zcashcommunity.com/t/flypool-bitfly-miner-centralization/
And t1ZYZS6ynUDbvht7vH3dMiM3rsAJ1p6EGWC mined only 48 blocks last month, and it’s been around since the block 0. I’m guessing BITMAIN’s GPU mining pool address.
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The adress interesting as it shows up in the pool hashrate as well, but only with a view % in the last charts.
So i’am a bit confused how the miner rewards we see in the explorer fit into the hashrate of that minor pool with that adress?!?!
t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X
Total Received: 31,055 ZEC from 07. May - 28th May
I still think that this one is the hidden bitmain pool “t1S4ydQEgzgLuWWvHiRBfcqW7AFE3RssVHy” as it has the biggest unknown hashrate of all that are private.
t1S4ydQEgzgLuWWvHiRBfcqW7AFE3RssVHy
Total Received: 23,912 ZEC from 1. Mart - 28th May
Somehow i have a feeling other asic players are on the playground as well…
So if 31 000 ZEC in 22 days is Founder’s Reward (20%), then it’s 31 000 * 5 = 155 000 ZEC mined in this period. Let’s make it to 1 week ~ 51 000 ZEC, net hasn’t such hashpower to generate 51k ZEC in 1 week. I can be wrong, if founders reward earned with all transactions, not only newly mined coins.
The Founder’s Reward (2.5 ZEC) doesn’t require any hashpower. It’s just automatically given to Zcash Co.'s address (t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X) whenever a block is mined.
https://explorer.zcha.in/accounts/t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X
Txns Received: 12439 (= 12439 blocks * 2.5 min = 21.6 days)
Total Received: 31097.5 ZEC = (12439 blocks * 2.5 ZEC)
Also, when you see the mined block chart, sometimes it’d say there are blocks mined by t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X. I found out that it’s some sort of a bug with Zchain.
For example,
https://explorer.zcha.in/blocks/0000000009b8a99c769fa1ca59fbc36f23111d82e39872fb7f3acb36abac8dc0
It says that the block was mined by t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X, but 10 ZEC + fee went to t1PbYh7TRXigqcdXYC1YHJS3KSBR9Yeso9W (the actual miner), and 2.5 ZEC (Founder’s Reward) went to t3esCNwwmcyc8i9qQfyTbYhTqmYXZ9AwK3X.
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Totally agree. That’s in principe a big media problem all over and even more a user problem in my opinion. Most users take any info as given true without any further asking, thinking, analyzing, whatever…
If this wouldn’t be the case all these Fakenews wouldn’t be that popular at all.
The bad thing is that mostly is the outcome. This video has been viewed by 495 people so far, nearly all of them believed it (pretty sure it’s above 95%) and only a view have seen your example and correction. So we can surely assume that some 450 of these people go around and believe what they watched/heared, while only a handfull now is aware of the true purpose of this wallet adress…
Good job anyway on explaining it, thumbs up. I was as well confused with the 2.5 ZEC miner rewards i saw in the transactions, and the dev reward came into my mind, but than again i thought the youtuber for sure as excluded that option and continued to look for that mining pool.
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They (current Founders Reward adress) accidentally mined 72 blocks,ok. But i just cant get it. 12439 blocks in 22 days, each block 10 ZEC, excluding founders reward, then it’s 124 390 ZEC (mined or total circulating amount?). If mined, then it’s 40 000 ZEC a week, while with current (~500 Msol\s, 8M diff) you can mine only 22 000 ZEC. I can not understand something?
My gosh. I’m up for founders reward…but …wow.
That just seems aggressive to me.
I guess I didn’t realize how much they got. Like a government taxes the ever living snot out of us.
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Regardless of the network hashrate, Zcash block is mined every 2.5 minutes.
That means 4032 blocks (= 50400 ZEC = 4032 * 12.5 ZEC) are mined for a week.
Every block contains 12.5 ZEC mining reward, 10 ZEC goes to a pool that mined the block, and 2.5 ZEC goes to the dev.
Theoretically Miners take 40320 ZEC, the Dev takes 10080 ZEC every week.
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Founder’s Reward is why I’m not quite buying the “Zcash Co. (or Zooko) sold out to BITMAIN” arguement.
Sure, BITMAIN still makes more money than Zcash Co. does with their Founder’s Reward.
But Zcash Co.'s monthly revenue is 10.4 million dollars.
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I for myself like the founder reward, in my opinion it’s the best possible solution for a lot of things:
- no ICO needed, all is based on performance later, means more motivation
- it’s transparent
- it’s way better than premine/premint as good performance increases the value of the reward and avoids at most dumps.
- Zcash has liquidity on a monthly base and not like other projects at beginning a huge amount that can finish at any time if not used good.
- It ensures that everybody getting some profit of the founders dev and should stay highly motived and focused on the project having all the best interest in long time success of the project. Many seem to miss this point completly how important this one is.
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It was never an argument in my opinon, just an attempt to build up pressure on Zcash Co and to slight, slander and libel Zooko…
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Thanks, now i understand more
You have to think of it in a different way. Zcash Co.'s monthly revenue is 10.4 million dollars would go the company not just one person.
I am ok wih founder reward but that is some insane numbers…2 much coin in one hand is never good …then price manipulation is peace off cake.
20% is VAT in my country that pays everything around me…roads ,schools ,health,military,police etc …and what expencieves they have…almost none.
And like i sad before in my previous post with premined coins dominating coinmarket cap crypto is still one big fail …because its just turned in money grabbing and get rich scheme.
I can not recommend anuone off my friends to use crypto…they money would just be burned and someone would pocket it
IF these 20% dev reward/fee is to much in your opinion i’am pretty sure there are a lot of hobby projects around where the devs do everything in their spare time or out of fun without ico, dev fee, premine, whatever. Maybe such project would fit your idealistic views better?
I’am saying this seriosly without any intention to offend you. But with so many issues and flows that Zcash has in your opinion i think it’s easier for going a project that fits everything you idealisticly stay for (nothing bad at all) than trying to change a successfull company/project/coin so it fits your idealogy.
P.S.: The Dev Reward/Fee is not going only to Zooko, it’s used for a whole lot of things and people by the way…
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Founders reward is divided up to cover a lot of initial investment costs, among other thing. The Founders Reward only lasts for the first 4 years and will account for 10% of the coin supply, not 20%. Here is a break down of how the Founders Reward is expected to be used:
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That’s what I just said.