Short term as Bitmain dumps its ASIC acquired Monero for payback, Zcash is fearing the same treatment. Honestly the market for Zcash is thin 100,000 ZEC would crash the market Bitmain has that in their vault as they accumulate several crypto coins to see which ones pan out using their ASIC, it is business.
you’re talking nonsense because you’re mad. hopefully nobody accepts your investment advice. come over to the speculation thread if you’d like to pursue this further.
While i personal honor each coins/projects/teams decision, whatever direction it is and of course every project is free to do whatever they feel is their vision not every project is based on pure idealism, without use cases and just for the purpose as excisting as coin #1689.
While BTG has every right to do whatever they think to do is totally ok. I personally would go even as far as saying that the BTG project has nothing to lose. How can it get worse for a coin that went from 489 USD to 73 USD today in only 6 months??
As a miner, trader, holder and investor in some projects, i’am pretty sure that projects like BTG with a never ending downtrend (for some reason!) are of not much interest for whatever miner. So for BTG it’s a logical move to to fork away, no matter that i doubt that anybody that bought the Z9 has BTG on his radar.
And again about Monero as it’s praised all the time. From an ideology point of view they might be heros, true, but they are in the biggest crises since ever now. I’am pretty sure if the Monero devs could choose again they would not fork again away. Time will show how Monero ends, for me in my prediction they loose a lot of ground now, are more vulnerable than ever with the daily decreasing nethash rate and achieved literally nothing than a bunch of problems other than some claps on their shoulder by some miners that left 1 hour later to mine ETH.
I hope the BTG network will not collapse totally after the fork.
This thread had become monotonous, unproductive, and I have descended into the dark side with my posts.
So I think I will attempt to redeem myself by diving into the “crypto zealot” realm.
Crypto currency was presented as an ideal. A decentralized means for monetary exchange free from centralized control, free from censorship, offering anonymity, and equal opportunity to all. This ideal has existed since the very first concept of a coin (coins were the original anonymous monetary system, Yes I know Governments took control of this quickly, this is not a history lesson).
Since that time, people that have found ways to profit from this type of monetary system (Yes its changed from precious metals to fiat currency but I’m skipping that several thousand year bit, again this is not a history lesson). Making money from the monetary system is not inherently bad, and is the basis of capitalism. However, when control becomes too centralized, the few profit from the many.
Crypto currency and the block chain is the first modern proposed system that can reverse this and restore control and equally to the participants in the system. This is extremely dangerous, few here understand how dangerous.
GPU mining, ASIC Mining, Mining pools, are irrelevant. There is tech in the works that make Bitmain irrelevant, that make ASIC’s irrelevant. Its not about hash power its about control.
Control requires one simple thing. That it is based on a controllable technology or a mono purpose technology. They are the same, as both can easily be controlled, as I and others have pointed out.
Crypto currency is a threat to the global financial system. You are naive if you think this has not be recognized by world nation states. Control of the currency is an absolute fundamental requirement of Governments to function. I myself am on the fence if crypto currency should be controlled to maintain world financial stability (it can be controlled). A true uncontrollable decentralized currency comes with a very high socio economic price, something I think few of you are willing to pay. A controlled crypto currency (covertly or openly), maintains the status quo and preserves world financial systems.
So, there you have it. Ill get off my “Zealot” box now.
Good luck to you all, choose wisely.
Oh, and Zooko is still an idiot, or maybe he is a genius. I guess its all in your perspective.
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@zooko 凸凸 i think Zcash will do nothing for be ASIC resistant again.
He’s not going to do anything. He’s just lying to everyone to to get people off his back. He has already decided at the time Bitmain paid him!
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Unless you have some sort of proof to back that up, that statement is nothing more than character assassination. I’m not overly happy with the current situation any more than anyone else, but resorting to baseless attacks doesn’t help anything.
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This is all failure reaction. A person will fail, because they fear for changed. No one can predict what’s the price for future. Only learning ang keep changing can created greater value.
Yes . 100% of asic miners are in it for the money only . 0% are for the tech or ideology .
And they want asic because of faster,less space , easier to manage , quick turn …etc
On the contrary not all gpu miners are in it for the cash only . Its sure in the equation. But not the only thing .
If you wonder what i do . I do graphics and i use gpu for rendering . I could mine any more profitable coin but i choose zcash . I like my money to go to nvidia,amd intel…etc real companies with real innovations, not some assembly line of processors that have 0 contributions to mankind.
They are drug dealers , nothing more . And asics are the drugs that zcash will be hooked on.
Check who owns biggest bitcoin mining farms.
You are in it for the cash . Nothing is wrong with that . Dont be greedy.
Converting the idea of economical freedome for everyone to a stupid meaningless race of whome will get the bigger cut and in few months wipe out any chance for the rest of the planet of that kind of freedome.
I could afford to get asic , maybe a 100 of them . But 99% cant . And in many developing countries you can still find people mining with one card 1050 or even less because they cant afford more .
And dont get me started on asic miners are holding first 2 months .
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Some people here have seriously problems. If you have to post such accusation you have to provide proof. Same goes for the other guy that calls Zcash a scam. You can’t talk like that on a public forum without proof or backuped information and sources.
don’t waste your time to explain to those people…they made their own mind.
don’t waste your time to explain to those people…they made their own mind.
$$$$$$$$$$$$=ASIC
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I have to made a painful decision - sell my Zcash. I can’t believe myself made a terrible investment.
If you think about it. ZCash could be considered a scam now. You did watch to video from Cryptomined and what said?
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Almost all users, unless everyone in this forum have one thing in common. Money!!
We try to make money or try to get rich.
The difference between those who succeed and those who fail is the correct management of two things:
FEAR and GREED!
If you know how to control them you are a winner.
This is also true for developers!!!
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Money’ll become your biggest weakness and fail you. You won’t get rich until last.
He never went so far as to make a claim like that. He did however broach the subject of class action suit. IANAL, I won’t go into that, but that as well would be a bit of an extreme response. I did mention he got pretty passionate about the ordeal.
@zooko arguments and reasoning are ok for d–b f–k’s anyone with any sort of brain will not fall for this BS I had high hopes but it a reflection of character, get your ASIC now and cash out.
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BTG is a fork off Bitcoin however, going from $489 to $73 means nothing because of that. It looks like they finally found some stability and found it’s place in the market so that might impact the price a bit, but given that the entire point of BTG is GPU mining, an algo switch is the only thing they can do and will probably only benefit from it.
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Agreed, that price was unsustainable for the amount of actual capital backing the price…it had to correct downward regardless. Any who was surprised that it would occur didn’t really do their homework well on the financial backing of BTG. It’s corrected to reflect its actual current value, Now it can build or sink on its own merits.
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