State of ZEC adoption

why does it feel like theres a concerted rhetoric to keep the token and its vibrant open and good faith law and legal facing community ( J.W. ) that puts us top of class.

this forum among others is proven a great place to FUD one’s own bags to accumulate at lower prices

For me it’s an effort to understand

  1. why should zec have any value?
  2. is zec a) ideoligical experiment to create public goods which might undermine zec value or even a beta test for someone else to copy or b) creating something for ZEC holders vision of private money for which ZEC holders can expect appreciation in ZEC price. There seems to be a conflict here potentially

so i’m trying to understand why i should own any coins regardless of prices.

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i think the people who make zec zcash are aware of its utility enough probably more than those who are not involved in that part of zcash

i am questioning why this cage rattling now

Ill name a few for you

  1. Turnover
  2. Possible changes in governance
  3. And the elephant in the room - price. The market doesnt have to be right. But over long periods it tends to get it right. ZEC is $30 and really not anywhere in how many years?

Don’t you want to educate people to make them aware of its utility. From what I can see its main utility is privacy. However, it sounds like you and others believe its a public good and give away the core technology for free. So it really has not proprietary utility or unique in that scenario is it? I would really like to know. Not to mention the wallet issues, transaction speeds, and price vol basically eliminate and cancel out any benefits of privacy. Privacy without something that retains value is not money. Money has to have something that gives it value and its not privacy. Money has to have collateral or some core proprietary technology, a proprietary network (like Visa), something. So I ask what is it? You can point to Bitcoin. But that might be government backed, which is a form of collateral if goverments are accepting it as a currency.

So some cage rattling is needed so ZEC can ask itself what it is trying to accomplish and maybe tell people why they should trust putting their life savings and hard earned labor into it as a store of value. I think the store of value concept needs to be taken a little more seriously based on a lot of the public good comments.

Giving away the core tech for free is like asking us to buy into a currency that allows counterfeiting.

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i dont accept your premises but

what you call counterfeiting, i believe forks are legitimate as they prove to be

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Thats why the smart people will just wait you out. Then fork. You will eventually run out of money or create something that is ready to be forked. Then they will add something proprietary to it that makes it better.

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ok still here to watch :handshake:

Im all for giving away certain things away fo free as long as it has to work on the zcash blockchain, helps people add on top of ZEC blockchain or improves the ZEC network edge cases. I am pushing for SDK (free) that help people build on the block chain, or SDKs to integrate ZEC into wallets…So my version of free is to extend the benefits of Zcash and the Zcash blockchain, not undermine it…So I would like to make that distinction.

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do you have more than one paper currency in your pocket? there is room for lots of work everywhere if the tech is powerful as you must think to post here, probably lots of value will fall far off the ZEC gravy train should tech be implemented

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I believe that; and from the looks of it people do in fact see it as a “gravy train” (unfortunately). Build on the ZEC blockchain is the key. You are arguing my case! Zcash block chain should be opened up. Decentralize the ZEC blockchain! Enable people to create on top of it and there is no need to fork it! Zcash becomes a L2 the chain (i believe), and everyone (other L2 on the chain) use ZEC as gas. The common denominator is its focused on money.

Zcash becomes the blockchain of money. People who build on it can then choose a) private or public or whatever. The T address will have value to someone). b) they can have fixed supply or floating (stablecoins will want floating) c) viewing keys critical for proving payments are made. So they have all the pieces. Private companies could be a massive target market for this as well as long as regulatory, security and custody could be done right.

Zcash blockchain needs to be opened up to reach its potential. It is more like free access (except for gas); and a free platform to build on…

This type of mission and vision is what I could buy into and stop me (and I believe most people who dont have to sell) from selling.

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@skyl Awesome suggestion! We need to rally around a few bets at marketing strategies for gaining adoption and your idea of cross-border work is a very strong candidate. The other I really like is payments for online sex workers (e.g. Onlyfans). What other ideas are out there?

Converting disparate individuals and businesses will never work because the network effect doesn’t take hold until there’s already a huge amount of adoption (i.e. enough have been converted that they start to find each other). Therefore we need to convert whole tight-knit communities to establish network effects. I’d like to hear more ideas along these lines.

(Bitcoin avoided this problem because no prior relationship between people was necessary to establish a network effect for pure speculation. Zcash unfortunately won’t be able to bootstrap a network effect in the same way because most of the speculation mindshare has already been captured by other coins.)

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Fork Free2z, rebrand it to align with this, and create an easy onboarding process for sex workers and their online fans.

Trial it with 5 online sex workers (and their supporters who need to use Zcash to fund the pages) who are aligned with crypto.

If trial goes well, scale it.

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You don’t need FUD to fill your bags at a low price. This coin has historically been at a low price… The hubris is quite hilarious on Twitter as well:

https://twitter.com/Oxpurdieaband/status/1687095209484787712

https://twitter.com/BTC__Blockchain/status/1687082656981245952

I agree with @earthrise and @skyl et. al.

I collaborate with amazing folks who live in low-wealth zones.

They’re my peers. When our Band votes to allocate zcash from our treasury we allocate to those collaborators using the same scale we allocate to people in high-wealth regions.

How my peers spend their zcash is up to them.

Given that they’re brilliant folks, who value zcash, I expect they’re probably using their zcash in their communities in an intelligent way.

Actually, I believe this is the pattern that @earthrise is calling for. What I observe is that our reasonably-paid collaborators are indeed spreading zcash in their communities. Of course, they are! They’re doing what’s best for their communities, which they recognize is to enable those communities to use zcash.

Meanwhile… I am doing the same thing. Enabling folks in my local physical community to use zcash, by asking to trade it for goods and services (which is working wonderfully for me, I just bought a prime-rib!)… and enabling folks in my on-line community by making it easier to use.

Per the issue of the super low price (relative to USD)… a wonderful effect of this is that new-comers have a low bar to entry… and new-comers is what we need!

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I think a Zcash grant to create a Zcash owned OnlyFans competitor would be a great idea. But I think we would need a ZSA stablecoin before it could be successful.

OnlyFans takes a 20% cut from from creators, and apparently has a profit margin of 75%. Looking around it seems all the competitors take around 20%, the lowest I found was 15%. A Zcash owned OnlyFans could require all payments be made in ZEC or ZSAs, and forego profit and lower the cut percentage to drive adoption of Zcash.

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You are missing the point of an open platform. Zcash should only do what it does best. private cash. stablecoins and zec and ZSA. third party developers take the risk of building the edge use cases. the developers of apps reap the rewards of creating. the world and uses cases are too big for zec to try and do it all. ecc and foundation have too much work to do on the blockchain, zSA and stablecoins to even think about edge use cases in my opinion.

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I said it would be a good idea as a grant from the ZCG. I agree that the ECC and ZF shouldn’t do this.

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First you say this…

But then you say this…

So how “open” is it, really?

It hardly does a good job at this. Transparent addresses, spam attacks… come on now.

think of it like your phone. Apple focuses on the platform which i think of as the network core and middleware. the apps on your phone are the edge uses cases. apple doesn’t try to think of every edge use case. they just provide the tools and SDKs for people to create the apps and generate revenue.

the apple platform itself is closed. the the ability to build on top of the platform is what is open.

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you are absolute right!! it’s because they are worried to much about the edge uses cases and not enough on the zcash blockchain- stablecoins, ZSA. transaction speed. fund zec wallet only. and wallets sdk other people use to build; but they fund their own wallets.

They are stretched too thin

even ethereum uses this type of model. and the gas is really a transaction fee. instead or paying out profits. they burn coins which looks the same as a stock buyback