Im not the one getting the current or extended mining reward. Why should I do the job for them and not get paid? Clearly, talks of extending the rewards means THEY want to get paid. Why should I spend my time doing work for them and NOT get paid?
Shouldnt everthing be done by then? Why did Zcash ask for 10% of the rewards and say we will give you this,this and this. And now they dont have enough money? That means…
A. They spent beyond their financial capacities.
B. Didnt ask for enough money, because they didnt understand what it would take.
Either way, Is the answer THROW MORE MONEY AT IT?
What if we have B. again, and 4 more years down the line they need more funding becase “we are not done”.
I am against extending the funding for Zcash. If people want to donate to them, thats up to them, dont force it from the miners hands.
EDIT: Maybe selling almost 17% of reward coins for $15 usd to Roger and his friends wasnt such a great idea nowdays, how much was that worth at the all time high.
The overall amount raised including the previous round is $3 million, and the investors collectively now own 16.4% of the company.
Since the Founders’ Reward is 2.1 million coins (10% of the total long-run monetary base of 21 million coins), and since the Founders’ Reward will be split among the owners of the Zcash Company in proportion to their ownership, this means the new round of investors paid $2M for an eventual distribution of 131,250 Zcash coins. Therefore, they effectively paid $15.24 per coin.
Did Zcash NEED that money to get started? Could they have started alot slower, and still had ownwership of 17% more rewards? We wont know for sure, but here we are with them asking for more money. Clearly something didnt work out that great.