Let’s talk about ASIC mining

If Zcash is not money, what the hell is it then?
If I send EUROs and convert it to USD on a exchange, that is money.
If i send Zcash and convert it to USD on a exchange how is that different?

When I use my credit card, I dont send money, I just send numbers. Im not using money by your logic.

Its different from fiat, because you cant just send $1M overseas without a bank. You cant just send fiat to anyone at anytime. You have to use a bank and im not gonna start on the problems sending money over seas.

If I had a million worth of Zec living in China right now today, I could easily send it to anyone with a wallet anywhere in the world almost instantly with almost zero fees. That is not the same problem as cash.

The recipient can use the Zcash as they see fit, like using regional exchanges to convert to local currency or use it at some of the few stores that do accept it as MONEY. DONE, money moved from China to wherever with zero chinese oversight. Try doing that with cash.

What am I sending then? What is a privacy coin then, if not a medium of exchange, AKA money. Why is it called a cryptoCURRENCY. Why is it called ZCASH. Your seriously trying to argue that Zcash is not a form of currency?

Come on now boxalex, you say some crazy stuff in these threads but seriously, do you belive yourself when you say this stuff?

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zcash is a currency.

This is a good topic, functionality and utilization (you’ll see ; )

I quoting your same question again.

I ask you:

What I was refering to is that billions are spent with no oversigt WITH CASH, I wasn’t questioning the fundamentals of crypto vs fiat.

Your my new favorite sand castle builder :*

[quote=“Lisfin, post:4972, topic:27353, full:true”]
If Zcash is not money, what the hell is it then?[/quote]

It’s an digital asset, at least in its current state. You can’t do with it what you can do with money, for example directly paying a debt, paying taxes, whatever…

If I send EUROs and convert it to USD on a exchange, that is money.
If i send Zcash and convert it to USD on a exchange how is that different?

It’s different, especially in your example as you said you send it with privacy. As soon as you convert it to USD your privacy is gone. You said that you can send 1M $ “Completely anonymous” and i’am saying that as soon as Zcash gets converted into USD it’s not more anonymous.

When I use my credit card, I dont send money, I just send numbers. Im not using money by your logic.

You use money by my logic, your credit card is attached to your banking acount that holds USD. You should compare a credit card with a banking account or wallet, not with money. Pretty unfair to put that into my logic and mouth…

Its different from fiat, because you cant just send $1M overseas without a bank. You cant just send fiat to anyone at anytime. You have to use a bank and im not gonna start on the problems sending money over seas.

No, you don’t send 1M$, you send something that eventually is worth $1M, it’s not the same, hence it’s not money as long as it’s Zcash. It could have been money bevor you send it or after you receive it when convertet to Fiat, but until that it was just a digital asset, not money.

If I had a million worth of Zec living in China right now today, I could easily send it to anyone with a wallet anywhere in the world almost instantly with almost zero fees. That is not the same problem as cash.

Totally agree with it that it’s more comfortable, avoids several problems and it’s cheaper. But this does not make it money. And i never said it’s bad to use ZEC or whatever, so i have no idea where this argument comes from?!

The recipient can use the Zcash as they see fit, like using regional exchanges to convert to local currency or use it at some of the few stores that do accept it as MONEY. DONE, money moved from China to wherever with zero chinese oversight. Try doing that with cash.

Actuallty no in my opinion. As soon as you use an exchange it’s just a digital asset converted into money. If a given store accepts a digital asset that’s fine, but doesn’t make it money again. It’s more a swap/barter/ btw. an asset and an item. And as said allready, i’am talking about it’s current state, i’am all for it becomes some day money!!!

What am I sending then? What is a privacy coin then, if not a medium of exchange, AKA money. Why is it called a cryptoCURRENCY. Why is it called ZCASH. Your seriously trying to argue that Zcash is not a form of currency?

It works as a medium of exchange, doesn’t mean it IS a medium of exchange. And currency is not the same as money by the way. And you can call whatever crypto whatever someone decides, meaning if some group calls their crypto “Federal Coin” doesn make it federal at all. Namegiving isn’t an argument.

Uppps, and no, i’am arguing that Zcash is NOT money, easy as that. It’s an digital asset designed to work as a medium of exchange. I’am fine with crypto currency, digital asset, digital currency, alternative currency, but not money.

Come on now boxalex, you say some crazy stuff in these threads but seriously, do you belive yourself when you say this stuff?

Actually yes and it makes sense and again, i said in it’s current state, i’am all for that this changes some day and replaces money, but currently at this time we are talking about digital assets and not money when we talk about Zcash…

who got it to?
FROM: webmaster@bitmaintech.com

Dear Customers, 

    Thank you for always supporting Bitmain! In order to serve you better, we are pleased to announce that a new repair site in Netherlands is open.

     

    **Our Europe-Netherlands Delivery Address**

    Name: Gerry Cheng

    Company Name: OGS Europe B.V. (BEST YIELD)

    Address: Steenoven 24 5626 DK, Eindhoven (City), North Brabant (State), Netherlands

    Working Hours: Mon - Fri: 9:00 AM - 17:00 PM (local time)

    **Please take note that we do not provide or cover the costs of returning the defective products to our repair site, including any customs clearance fees. Be sure to choose DDP shipping term and leading international couriers, such as DHL. Also, we hope that you do not use sea freight to send the defective items to us as these miners are susceptible to moisture damage.**

    For any enquiries or feedback, kindly send us a message [here](http://support.bitmain.com/hc/en-us/requests/new) 

    Best regards,
    Bitmain

This is from Australia, I haven’t read it yet so unsure of applicability
https://www.coindesk.com/australias-science-agency-claims-breakthrough-in-global-blockchain-test/

I got this message as well. It’s there, you can see it! :wink:

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@Sacsayhuaman

LoL

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:joy::joy::joy::sunglasses::sunglasses::sunglasses:

WOW you’re WAY OFF!
This state will allow you to pay your income tax with bitcoin or Litecoin

Lets pay BILLS!!!

Actually , my credit card is NOT connected to my bank account, it is a complete separate entity. I may pay my bills through online bill pay, but my CC is not linked my checking or saving account.
Let’s make one thing very clear about fiat, that paper and coin you use, is just note and is just a piece of metal that is given value by the government based on the amount of gold they have to back its worth.

and lets NOT forget the country’s that says cryptocurrency is its official currency

Guys I hate to say it… but we are off topic. Please start a new thread for this line of discussion and ask a mod to move it…

Agree @Kahooli

@johnwisdom feel free to make a separate thread and I will move the conversation.

but shawn, if all of that is off topic, isn’t your picture of this looks photoshopped offtopic as well? :wink: :smile:

Yes and no, :slight_smile: it’s still talking about ASICs (or a funny Photoshop of Bitmain facilities)

Update, also cross-posted to What happened at the Zcon0 mining workshop (and more...)

Sep 28, 2018:

https://www.coindesk.com/ethereum-security-lead-joins-effort-to-oust-blockchains-big-miners/

In an developer meeting Friday, Martin Holst Swende, security lead at the Ethereum Foundation, said he supports swift action to remove ASIC mining hardware from the ethereum platform. Joining the non-profit in 2016, Swende now works to ensure code changes do not disrupt or harm operations on the world’s second-largest blockchain.

Sep 19, 2018 (see thread)

Ethereum core developer:

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Here are two articles explaining ProgPOW in case some thread participants are unfamiliar with it. I had an idea similar to it. I just didn’t have the knowledge to do it. :disappointed_relieved:

That would be incredibly nice, but I highly doubt it will ever happen…

Anyone mining on the testnet? Its at 60ks (somebody is)

The big picture is that Ethereum’s security lead and other core developers have reached the conclusion that it is in the best interest of the network to remove the influence of ASICs as soon as possible, while proof-of-work mining is still being used, even though proof-of-stake is just around the corner.

This is pretty much what I suggested a few months ago:

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