[Poll] The Founder's Reward


#1

The Founders Reward has been discussed heavily on this forum. This poll was created in order to find out what the community really thinks about it. What do you think about the Founders Reward?

  • I support the Founder's Reward
  • It bothers me but I will still use ZCash
  • It bothers me and I would rather like to use a fork!

0voters


#2

Okay, per your request I tried to change "poll type=multiple min=1 max=3 public=true" to "poll type=multiple min=1 max=1 public=true", but it popped up an error message "Poll with results cannot be made public". So then I changed it to "poll type=multiple min=1 max=1 public=false", which seems to work, but I don't know what it means that I changed "public" from "true" to "false".


#3

you don't see who voted on what anymore. Well it is fine I guess. THX


#4

I suggest to pass all the reward to me so that I'll ensure truly fair coin distribution between all the users.


#5

I 'vote' with currency and, in this instance, Equihashes.


#6

I support the founder's reward.


#7

Do I vote "it bothers me but I will still use zcash" if I think the founders reward seems a little light compared to the work they've put in? :wink:


#8

It is your decission, but please remember what bothers me about the Founder's Reward is not that the developer get their fair share in the coin but that those so called investors did nothing else but invest and get a huge huge profit. I could not mine the coin knowing that those companies will receive a share of the mining reward, honestly this is so very annoying I don't want to support it. Especially knowing that ZCash is such an important project. Why didn't you guys just let the community finance you? You would have gotten enough to support the work and if you really believe in the project, like I do, could have invested yourself in the coin which, would also show others that you, the developers, trust in your own work. Nobody wants to support these corporations! Ahhh this bothers me so much!!!!


#9

Great my last post was blocked by Akismet... I don't know what it is and how it works but I know I already don't like it!:angry:


#10

It bothers me but I will absolutely still use Zcash. I would -- after this tech has matured -- LOVE to see a fork with no reward.

Even better, I'd like to see a zerocash sidechain to bitcoin (with no reward).

On another note...

Correct me if I'm wrong, but I don't think a fork would need it's own trusted setup. It could reuse the same public parameters that will be set up by the Zcash team. I haven't looked at that part of the code myself, so I'm not certain. But generally speaking I don't see any reason why a fork would need to do its own trusted setup step -- as long as they trust that the zcash trusted setup was't compromised.

One last note....

While I do want to see a "tax free" fork of zcash, I'm happy to wait until we can implement it as bitcoin sidechain. Absent that, I'm not convinced we'll get anywhere near the network effect we need for a fork to be successful. So while I'm not super stoked about the captain's funding model, I have no intention of jumping ship. I like where this project is going.

But devs be warned: as soon as bitcoin implements sidechains, there will be mutiny afoot! ;p

[I suspect a significant-but-silent subset of the devs would like to see that too. No hardcore cypherpunk really wants to see their coin be taxed. I strongly suspect the Founder's Reward is seen as a "necessary evil" by many of the devs.]


#11

I strongly suspect that getting paid is not only simply necessary but also an unquestionable expectation. Choosing a relatively small group of investors who know the risk / reward ratio over small timers who need constant reassurance was the smart thing to do for a team that doesn't want to burden itself by having to employ professional hand-holders to dole out that reassurance.


#12

The reasoning behind why the Founders Reward is such a big problem is the following. So there are 2 options.
One is, Bitcoin will stay cryptocoin number one, nobody is interested in ZCash and it will never be something importatant that people use. ZCash has to become bigger than Bitcoin in order to give true privacy other wise the exchanges will be the single point of failure and everyone will lose all his privacy there and many features ZCash provides are effectively useless. In that case nobody needs to care about the Founders Reward and ZCash is not all that interesting anyway.
Option number two is, ZCash WILL become successful in the future and people will use ZCash more and more. ZCash will develope and will at one point in time become the global currency of the world. In that there is a small circle of people that own 10% of all the ZCash that will ever exist. Well I would argue that it will never come to that point in which ZCash will become such an important coin based on the fact that people are discouraged to use it because of the Founders Reward. Any of those 2 options is bad and the Founders Reward really makes ZCash no option for at least me.


#13

Nevermind that those people will need to spend their zec to benefit on the return from their investment and that making zec available to meet demand is good for the Zcash economy and therefore good for them - let's all work ourselves into a frothy, paranoid panic stemming from utter economic illiteracy.


#14

the Founders Reward is "only" 10%, not 20% because the founders donate 10% for the zcash team for future development. i my view, that is a fair amount.

dont forget that the Founders can give Zcash publicity, help with development and they have networks which are good for Zcash.

i would like to know who are the founders...? (founders = Investors from the website?)


#15

Satoshi got 10% to himself.

My only beef is that investors should have paid more per coin, maybe 10x more. I would have. If they got half and developers got the other half of the 10%, then they paid $1 per coin. But I guess deals were made before ETH jumped 30x. Same thing is going to happen here.


#16

Yes Satoshi has about a million btc, which is around 5% of all the btc and people complain about this a lot.(Whether he is in possession of the keys is unclear) The difference is that btc was an experiment when it started. It was not clear if it would even succeed or was just a short phenomenon. But now we know that crypto currencies are something to be taken serious and we should do it right and we should have learned from btc and NOT give such a big share of the coin to a small group of people.


#17

The founders are the developers AND the investors. They are listed on the website. How the shares will be divided has not been published.


#18

The point of Zcash is financial privacy - so get used to minding your own business re: who gets what.


#19

I think it's reasonable.