The future of Zcash in the year 2020

Some discussions about the first round of Zcash Foundations Governance Panel and Voting were merged into a new thread: Zcash Foundations Voting and Governance Panel

First of all, I am a zcash believer, and i believe that zcash market cap should be top 3 by the end of 2020, which means zcash team should have enough cash out during the next bull market, and the cash should be enough for the next 5-10 years. Secondly, I am previously a GPU zec miner, and currently mining zec with Asic machines, and meanwhile mining ether with GPUs. i personally think the ‘harmony blossom’ is a great idea for the next move, and I will have my GPUs switched from ether to zec after harmony blossom & ether POS for sure. I don’t think the price of zec will be pumped up by individuals but big players such as miner manufacturers(bitmain etc). So making Asic & GPU involved is a good idea to make sure the price of zec being pumped up, so that more mining machine could be sold, also keeping the network decentralized.

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Just mine as much as you can and do not think too much. “Overthinking Does Kill Your Happiness” . No body knows the future.

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Why do you think a privacy coin will jump up so high in value? Currently to be in the top 3 right now, you need to be 2.2+ billion or more market cap. Currently ZEC is at 330 million. Its price needs to 10x while at the same time, no other coin can move.

If Zcash can 10x vs every other coin, than maybe it can hit the top 3. However with the way Zcash has been proposing these ideas, ideas that wont help, but most likely hurt it. I dont see Zcash becomming the coin you envision.

I too had big hopes for Zcash last year,all the way up untill I sold my bags cause I could see the direction they were taking. Im sorry, my personal opinion is I dont think Zec will be “the privacy coin” that everyone is using.

Straight-up incorrect. Even before the vote, we funded research on the presence of ASICs mining Zcash. Then we made several grants for further research and proof-of-concepts w/r/t PoW implementations: home - zcash foundation

In that post, the Grant Review Committee wrote:

Not all of the committee members believe that ASIC-resistant proof-of-work is an optimal (or even viable) approach to achieving mining decentralization. However, relevant submissions were judged under the assumption that the Zcash community is interested in exploring the prospect of ASIC resistance, and this justifies funding a more informed discussion and developing prospective implementations.

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It wasnt me saying this.

It had zero effect on what ZcashCo did, not what the Foundation itself did. That is different from zero effect entirely.

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That is the vote I was talking about, that had zero effect, the “communites” vote.

EDIT: I have already went into detail of what I mean when I say this in the other thread, I will get punished for being Off-topic if I go into details here.

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Good point, let’s refocus discussion on the topic here. I apologize for also derailing.

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Of course zec, or any other privacy coin is not for everyone. I personally think privacy does not mean too much for normal people but for celebrated ones, such as politician, famous stars etc. These guys will use zcash for their privacy,which they really need, and as more and more being aware of this, zec will be more and more useful in the future. So let us first wait until the end of 2020 :wink:

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I’ve been giving this a lot more thought lately (and open-source funding models in general). Given timelines (The Zcash Network Upgrade Pipeline - Electric Coin Company) I presume the formal process is to create a ZIP to propose any changes to how block rewards are distributed? (Zcash Improvement Proposals (ZIPs) — Zcash Documentation 5.2.0 documentation). As per that link:

Vetting an idea publicly before going as far as writing a ZIP is meant to save both the potential authors and the wider community time.

Simply, I would propose post-2020 halving (and end of Founders’ Reward) a new development fund is created and given 10% of the block reward. Tentatively, these funds would be deposited to the Foundation who would be responsible for dispersing the funds to develop/support the protocol as needed.

I would expect this to be contentious so having something concrete to debate (and vote on?) rather than hypotheticals is likely beneficial to avoid running into any obstacles of timescales.

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@garethtdavies, I have a tremendous amount of respect for you. I consider you to be a leader in the Zcash community, and you have helped so many people here in this forum by lending your expertise to answer questions (including my own questions on several occasions). But would respectfully (and vehemently) oppose any proposal to extend the Founders Reward. (And I would welcome debating this in the context of a ZIP.)

If a significant portion of the community rallies around a proposal to extend the Founders Reward and ZcashCo follows, I think the best way to combat this (for those that oppose any extension of the Founders Reward) is to “Friendly Fork” chain split as soon as possible, call the new coin something that doesn’t infringe on the Zcash trademark (let’s just call it FriendlyForkCoin, or FFC, for now), and siphon off ALL of the remaining unvested original Founders Reward on the new chain to a nonprofit FFC Foundation devoted exclusively to funding the open source development of FFC.

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In my opinion, bevor whatever further should be discussed the community should know how much funding so far has been used for whatever. Means a full disclose and balance on exactly what funds have been used for exactly what.

This should be the first step bevor the community gets involved in whatever discussion in my opinion. I think it’s essential for making an opinion on whether to extend the founders reward or not.

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Not commenting on the proposal, but tagging @acityinohio because he can talk about the ZIP process changes that are being discussed.

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Having seen the response from @amiller on this thread Zcash foundation board of directors - #21 by amiller assuming a similar style of community governance process to last year it would probably first be sensible to put it up as a proposal. Then the formality of ZIP writing could probably be achieved soon after (assuming it was something that was voted in favour of).

@hloo acknowledged. Rather than give a less than complete reply here I intend to properly write up my thoughts as to why I think this is a good idea and hope to build community consensus around it.

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Agreed with @garethtdavies that it makes sense to have a broad proposal and expanded advisory panel process for something like this before it’s written up officially as a ZIP (thanks for tagging @sonya).

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There are many coins gaining their strength again now. What about Zcash? Why has not it risen these days?

I don’t really follow Zcash vs other coins price valuations. That’s a better question for Price Speculation: Price Speculation - #6501 by Lorelai

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3 posts were merged into an existing topic: Price Speculation

It’s almost impossible to predict the future of any coin, so i never believe such predictions

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