The blackpill thread

Ah, I get you. Like alerts or whatever when someone posts and you just saw the summary and thought, this bloke is straight up talking shit and spreading misinfo. (which I was, something I haven’t purposely done on here before.)

maybe @kek could change the title to be The black pill thread [may contain mischaracterised info and negative opinions on positive news] - idk im too verbose for titles. This is like a containment thread, like the Too the Moon is a containment thread for overly optimistic positive news. this is just its emo little brother.

Personally though I will clearly mark my posts in future, Id like to be know as reliable and honest. :slight_smile: - and no need to reply to anything I raise in this thread, I have made the point in another thread, which is for serious debate.

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What? Where did you get connection between the NSA and bitfury? Why would bitfury of all people work with the NSA of all agencies?

im not joking I genuinely want to know why you think the NSA is in bed with a private company in a country they don’t even have any allegiance with.

got a link?

you know who the people in this picture are?

; ) admiral mike rodgers is one of them

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I know who the bald bloke is - ive spoken with him before way back in the bitcoin fpga days. I just googled that Mike Rogers guy, Im trying to find out when this image was taken.

to be fair I had to look them up on bitfurys page, only spoken to them via phone/text

  • Valerie on the far left (bald and legend) - CEO/Founder bitfury,
  • Mike Rogers head bloke for the NSA cyber until 2018,
  • Then George Kikvadze bitfury vice chairman,
  • Then do you know who the bloke on the far right is?

to me it looks like Vlad Radysh - bitfury government relations director, this seems relevant to the photo… but it might not be him.

You are grey pilling me on bitfury, need more info plz (or pills). It depends when this photo was taken and who that is on the far right of the image. (green tie guy)

edit: just found this guy

Jason Weinstein

Still im grey pilled until that green tie guy turns out to be head of cryptographic security, or similar : )

2015

  • director of the national security agency;
    not just cyber. make-of-it what you will.
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So happy to see somebody else actually read their propaganda piece and find faults Electric Coin Company Q2 2019 Financial Report

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The conference was held, and good news for investors … they are not.


Good article about Libra…
Doesn’t paint a pretty picture but it’s fairly accurate

My favorite part
“Calibra investigators will need to ensure that the organizational connections between Calibra and Facebook do not leak customer information between the two entities.” :confounded:

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Not sure if the google French-to-English translation is 100% correct, but sharing the interesting points:

The founders dissatisfied
The announcement of the creation of a new blockchain was made during the ZCon1 conference in Croatia. The main reasons are as follows, on the one hand the current blockchain does not satisfy the founders as well as the company financially supporting the project, the Electric Coin Company.

On the other hand, confidential on-line transactions represent only 2% of all transactions processed by the network . This is mainly due to the difficulty of using shielded addresses.

To overcome these problems, Zcash will adopt a similar approach to Ethereum 2.0, with the creation of a new blockchain .

This blockchain will be developed in parallel with the current channel. At its official launch, all users of the current blockchain will have to transfer their assets to the new channel. The transition process has not yet been unveiled.

No announcement has been made regarding the consensus mode, however we know that the Proof Of Work - currently used by Zcash - is not the most optimal model for implementing Sharding and that the Proof Of Stake is preferable.

The bold parts of the article are from the original article, not mine!!!

Hmmmm

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Ultimatum? :thinking:

zcash announcement -

we’re going to increase L1 capacity, bolt for L2! we’re going to deploy privacy by default, and ZEC-ETH interoperability.

crypto media headline -

zcash is a failure

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i’m not sure why the crypto community thinks it’s a bad thing to pay their developers. why would you want the people that are working on the money you depend on to be stressed out about money. actually think a lot of projects understand this gives ZEC development an edge on them. ZEC devs aren’t worried about how to get paid, like their devs. i don’t even feel it’s an “ultimatum”. haven’t seen many zcash people argue against extending payments to devs. it’s just a matter of the best way to do it.

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The problem is different, what they can do, what they want and can do nothing and receive money anyway, the organization should not work on which the success of the product depends on, now they have spent 3 years and what they have come to, that everything needs to be redone or you think That all products will remain compatible? From the point of view of the investor (the buyer of the coin) is a failure, because the money invested is gone (this is not a prediction but a fact at the rate of Bitcoin)

Yes, 20 characters ; )

Agree with you on that @kek, if you pay peanuts, you get monkeys :speak_no_evil:

But on the other hand, some coins are still around and wished that they only may had 10 % of the funds that went into Zcash. There are some calculations floating around here, and what went from the miners to the FR already was a large sum of money in my opinion. ( Yes, I know, it was diveded between parties, but even then it was still a substantial amount of money in my opinion )

Given the number of proposals something oughta tickle your fancy

That’s not the problem. I guess even the biggest idiot understands that devs/employees/engineers/staff has to be paid. Everybody thinking that someone should work for free better never tries to open his own business.

The problem for many, including me, especially with the current founders reward is it’s distribution, flawed design by default and efficiency of the product compared to the funds that the FR has and will generate until october 2020.

Just to fit up the main points and concerns so it gets clear where the problem actually is:

  • The founders reward generated allready an estimated $200M+, with the current exchange rate at $100 the Founders Reward will have generated far over $300M, mostly something around $350-$400M, that’s a huge amount.

  • On Zcon1 it’s said that 1M montly are needed for current development with the overwhelming majority used for saleries. That’s ok more or less. 4 Years x 12months x 1M = 48M for the past time period of the founders reward and for the future period. It’s all ok that everybody profits from the FR, must must it really result in such big gap?
    As a sidenote: When i was 18 i made my first company with a great idea, funds, motivation but without experience, leave alone financial experience. I than back took from the turnover 60+% for myself. Needless to say i went bankrupt after a year, lol. After i learned this lesson the hardway a never ever took out more than 20% of the companies and left at least 80% for investments, reserves, etc. Never ever had financial problems again on neither company i run. Get the idea?

  • Next question is how much funds are needed for future beyond 2020, for which planned upgrades, innovations, features, whatever. Or the allready announced $1M monthly for saleries, are these for 10, 20, 50 or 75 employees. Are advisors still included and get a share? Are they really needed to have a contstant payment (just as an example). Or something it seems everybody is afraid so far to ask, will Zookos previous FR share of 0.9% (2033 ZEC per month) be the same, higher, lower with the new dev fee? And so on … Hence my proposal a dev fee is having the foundation as the recepient as a transparent non profit organization preferable a pure profit not-so transparent company…

  • Than how big should the amount really be? We see all kind of proposals from 0 to 20% dev fee.
    Let’s make a short elemtary calculation:
    The amount needed per month by Zook on Zcon1 is $1M per month
    ECC so far until June got 2.8% of the FR, makes 6,126 ZEC per month, at the current exchange rate of 100 that's ~612,600 US per month.
    If i correct, sinece June the ECC gets 8% from the Founders reward, which should be 17,501 ZEC per month or at current exchange rate of ~$100 about $1,75M per month.
    Enough funds for the ECC and the Foundation even at 8% and current exchange rates. As most of you guys anyway think we reach soon $200,300,600+ nothing to worry if the dev fee is in the range of 5-10%.

  • Another sensible point is of course the ongoing lawsuite. While i fully understand that we want get much information about it from either side and until an outcome/court challenging we know as much as nothing. But while talking about millions it should of course play a role, even more shares of the founders reward are included in this lawsuite over $2M. My personal opinion is that using the foundation as a new dev fee recepient which is not compromised by an ongoing lawsuite (nobody knows if there won’t be others following after the June FR dilution towards ECC) is the better choice to have dev funding in a “safe harbour”.

  • Than maybe the biggest problem. The community is asked for proposals and dev funding choices without even having a system in place where someone can vote. The whole process should have begun with a solid, fair community wide voting design/system. Additionally time for proposals are short and get even shorter.

This of course creates some uncertainty & doubtfulnes, hence we see daily some headlines interpreting every comma and point.

That’s right, but for the current situation, where there is no development goal, you just need to get zec and convert it into dollars, no one will change anything, then they will simply say that the startup failed and after making conclusions we try again.
All official representatives only pretend to work for the good of the community, but in fact what has been done and completed 100%?
Updates pass by themselves, protected addresses 2%, laughter.
Management and structure develops but employees are judged and the community becomes smaller (how many people are actively on the forum)
The price of a coin falls like value.
and so on.
Here’s a tweet: https://twitter.com/jswihart/status/1143843474594250758
I expected this work from the company throughout the entire period of work, it’s good that after 3 years work has begun, we will look at the result.

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Wilcox also revealed the current state of the ECC’s finances. He said that it has $3.35 million in the bank and is holding 29,096 ZEC ($3.2 million)

Ahh this explains why he is so happy about the coin that must not be named aka friendly fork. Hope I get to dump my friendly fork coins before he does.

Hey ECC here is an idea, as soon as the fork happens dump the free coins you just got… it should at least pay the person for the time it took to do it. Who knows maybe even enough to buy everyone a coke!

and I can’t find the article, but I just read that ECC is now getting 8% of the founders rewards instead of 4% (because some founders reallocated their funds to ECC)… So they’ve doubled their incoming capitol.

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