I am personally a great believer in zero knowledge proofs. I think it is one of the biggest accomplishments in the field of cryptography since the launch of Bitcoin.
My hope in ZCash’s survival is fading away though. ECC committed too many mistakes but the foundation and the community do not seem to realize that it is time for a radical change now.
I have watched the live stream @Shawn. After hearing ECCs “very ambitious goals” how @Zooko has called it, I had troubles to continue watching it. It is nice that ECC is bullish on ZEC. I did not expect them to claim anything else. ECC was also bullish in 2017 when I was personally speaking to some of the team members. Since then the price has been constantly dropping and there was not a single step closer being made towards mass adoption. I have not seen a single effort of ECC how they could fund themselves without taxing the miners. It seems to me that the financial planning was rather poor and ECC does not want to go bankrupt because there are 30 jobs on the line. So just extend the founders reward, even though the promise three years ago was something else? Almost nobody will complain at this point anymore because most people with a critical stance left the community long ago.
One billion users is not ambitious, it is delusionary. It is like a leader of a small sect who is claiming that he will have more supporters than the catholic church and that it is “actually quite doable”.
I do think that the engineers of ECC are world class. But as others previously mentioned, tech is not everything.
When it comes to privacy it is about trust (especially with a cryptocurrency which relies on a trusted setup). Well, Zooko has lost the trust of many people in the crypto space due to several reasons. I think the price and adoption of ZEC support this hypothesis. You can have the best marketing team on earth and it will not help anything if the leader of the project undermines the trust in its currency.
I really think ZCash could see a light at the end of the tunnel with mobile wallets and hardware wallet support for shielded addresses, but there is still the problem that the crypto community does not trust the leadership and @Zooko in particular.
There is a reason for why Monero gets used way more and performs way better than ZEC and this is not market manipulation or inflation.
ZCash is facing a new era and I do not see why the community should support a dev fund under the current conditions.
What should change within the next four years? I could not see or find anything apart from the usual “the code will be awesome and we will work hard to accomplish mass adoption” mumbo jumbo. The code is already awesome but there is zero adoption even though you might have worked hard for it. There are no results. So please overthink your strategy, ECC, ZCash foundation and ZCash community, because I guess you are not going to survive way longer while relying on the current one…
Comparison with other new technologies is not suitable here, because there are already a lot of competitors, about electricity as well as about automotive, it was different, there were no competitors with a product superior in everything - do not forget that zcash technology can be copied for free if you wish into the same BTC, LTC, ETH.
Ok let me ask you a serious question here. If BTC core announced tomorrow that they would be using recursive SNARKs to implement privacy what do you think would happen to the price of ZEC?
Why would I choose a copy cat chain when its obviously the wiser choice that the team that invented the tech would be more agile in finding bugs and more suitable to maintain the chain AND continue its development?
If markets were so bad at rewarding ingenuity do you really think they would exist?
Oh and as this whole thread is complete nonsense I shall not be wasting my precious time on such things. You guys can go to the super market and buy a couple of cans of pepsi and make management decisions in the Pepsi co next.
Oh and also the OP is full of half truths and falsehoods. As far as I know Zooko was for ASIC resistance but the board vote was against it.
Here you go ZEC community it says “To the fairest” in Greek on the golden apple.
Scaling is where projects thrive or die & applies to everything.
If Coke couldn’t make 10 million cans a day & Pepsi figure out how - we’d all be drinking Pepsi within a year or two (yeucch!). Telephone networks, undersea fibre, cellphone bandwidth, absolutely everything dies if a competitor scales better.
There was intense competition in the early days of electricity (Tesla vs. Edison) and the internet (Microsoft vs. Netscape). We’re in the first inning of private digital money.
It was a competition of equals, zcash is not equal to other coins and in this case it’s about how to try to promote steam traction in the era of electric vehicles. The technology is excellent, but does not suit anyone except a small group of people. There is no use scenario, and cash will not be used as the Internet because there is no such demand, and when demand appears, then offers will appear from promoted projects. Zcash should be gaining popularity right now so that tomorrow the team had the money to continue supporting, do not forget. They used to say that the price is not important, but now they say that there is not enough money, for me it was so obvious before,
but persistent insistence that zcash will become popular, we’ll just release the update and that’s it, but this does not happen, and the goals that the team achieved were supposed to change the situation, but did not change it. Now, having watched the video from the company, I did not see what would make zcash a leader, there are assumptions but no strategy for success. They believe in success, but success does not go and no one understands why I believe.
Technologies need to be used, for example, to enter sites through a wallet (trust registration), enter into a pair of contracts with the necessary sites, make payments in the same way and much more, but for now, all cryptocurrencies can transfer coins,learn to do it everyone else.
I might be wrong here and i do not know every bug but if i remember right all bugs (that made it to the public) the last 1-2 years were found by external devs/teams …
It would plumb a lot in my opinion. Actually that’s my biggest fear for the future of Zcash, that a very good other project with a decent dev community will use Snarks or something even better.
There are a lot of examples in history where a given tech product was copied and later improved and/or the original innovator failed to monetize the invention/innovation. Netscape is a very good example for that, invented literally the browser but as we all know other browsers are used today.
Blackberry is another very good example. Apple copied the idea and today i’am sure a lot of people even don’t remember Blackberry. I could make a list of 1001 such examples where a copy cat combined with new ideas, better marketing approach leaded to a huge success compared to the original.
That’s a question of someones personal view. Several people made very good points in this thread, enough someone is not blinded and of course objective enough to see the bigger picture of the past, present and future. Just my opinion of course.
Very well I disagree I think it would pump hard unfortunately we are not going to have an easy way of finding out who is right
I would tend to disagree here I am betting that most people have 0 shares in both pepsi and the ECC and should have just about the same right to decide about the company’s management. That is if we live in the real world.
The question is different, if the project wants to survive, according to some people, changes are needed.
If you are for technology, it means that you and other people are interested in buying coins, because success depends on it, because financing comes from these purchases.
There is no need to buy coins, there is no future. This is not a question of technology or the work of the company and the fund, it is a question of the future. Either they create the conditions for zcash to buy and the price grows, or the project ends.
If an argument is valid than it shouldn’t matter if the person argumenting holds 0.5 ZEC or 50000 ZEC, the argument is just the same. Someone with more ZEC argumenting on something doesn’t make it more true.
Following your logic there should be no free press, free experts, free writers, free critics as if they don’t hold shares of a given product they would have no say and no rights to comment on anything.
The amount of ZEC someone holds has no bearing on the decision making process of the corporation it is a product. You know who the company board is responsible to? The shareholders. How pray tell do you intend to enforce your decision other than an advisory role? And is it even worth discussing if that is so? @Anton1
Very well ok this is good for ZCASH we get rid of Zooko the entire upper management. How much of the original development team is going to be left and who is going to replace them?
How would this positively impact ZCASH. Lets start with the price. I suppose if we do the above price is going to pump hard?
Nothing will change for the worse when changing the CEO at least. The team will continue to work, but I am not saying that this needs to be done, it is necessary to make changes that will lead to improvements. To sit and think that everything is going well because the CEO plays an important role now and that the price has not fallen as much as it could have fallen his departure, it has no evidence, while the trend that we have suggests that if you leave everything as it is then the fall will continue, do you want this?
What would happen to the price if Zooko resigned and how long do I as a holder have to wait for this positive impact in price to take place? However the thread is titled differently. I think this individual thinks he is dealing with microsoft and there are about 100 developers left if we get rid of the upper management.
Another question is, as a holder, are you ready to wait further and watch how your asset turns into 0? Or are you ready to do something to get the opportunity to increase the asset? To begin with, if you leave the team, the team will not protect the value, they said this before. Do you think Zooko stops falling in his post? That he is in place and that he is absent. Zcash will not react to this in any way, but his goals and objectives are currently incorrect, because this has led to the fact that funding is now insufficient to continue.
For me, the first post has a slightly different meaning, it is not necessary to fire a person, you need to fire views on the situation, or change the mind of the team that does not lead us to victory in this war, but they are sure that they will lead to victory and therefore go there in a united step. Whatever happens if the price falls further, do you think they will do everything to restore the project? They will say that there is no money and they will be engaged in other projects, the question is money and not ideas, they say to the community that the price is not important, but they pay wages at a high level nevertheless, they do not want to work for free, what kind of idea are they talking about? . Anyone who buys coins and provides financing to pay for their work turns out to be deceived.
No my friend dont evade the question at least be honest and say if Zooko resigned the price would go down. Because were coming to the next qustion and that is who has to benefit from this. And I will give you a spoiler alert it is not the ZCASH community.
