The future of Zcash in the year 2020

I’m only for continued funding of ECC / ZF if it means also slowing down the inflation rate (more than the halving already would), while still keeping the 21mm total supply.

A megathread for more focused discussion of dev funding proposals: Future of Zcash dev funding — megathread / everything in one place

Howard Wu, thank you very much for contributing your thoughts about this. I know you as a very smart, thoughtful, and well-informed person in the space, and one of the few people I know who is active in both science and in VC-style investment.

I want to make one clarifying point about your proposal:

I just want to point out that, while ECC could do this, if we did so we would not be able to continue focusing primarily on improving, supporting, and promoting the core Zcash protocol the way we have been. We would instead need to prioritise the needs of the customers we would be acquiring (e.g. paying users of paid-for wallets, enterprise customers of vertical integrations, etc.) over the needs of all ZEC-holders (e.g. improving the core Zcash protocol, marketing Zcash to all users of the world, government and regulatory outreach and education, etc.).

This approach is an example of the “Pivot” option out of the three options that I described in my talk at Zcon1 (State of Electric Coin Company - Zooko Wilcox - YouTube). (The other two options are “Slow Down” and “All In On ZEC”.)

As of Zcon1, ECC has committed to not exploring the “Pivot” option for the time being. As I described in that speech, we currently have at least 24 months of sustainable funding under our current model, and as long as we continue to have more than 12 months of sustainable funding we are going to stick with the “All In On ZEC” option.

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I was just re-reading the whole thread and these parts got my attention, especially the one about a voting mechanism catched my eye and mind again. Makes just … perfect sense.

However, for someone that is vehement against breaking of the 90% to miner promise and core value i don’t see much of contribution in any of the proposals, neither in these that stay to the promise, even less in these that want to break the promise.

Sure, you made your stance clear by a personal fork, but i wonder IF it should be limited to this as a ZEC holder? Just curious what the reasons about your silence is while on one hand claiming to be vehement against any breaking core value on the other hand not contributing to any proposal … Somehow at least … strange.

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The ECC is ALL IN
I am ALL IN
We all know the state of things and now is no time for second guessing that or creating a distractive state for our devs
CONTINUED FUNDING!:zcash:

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Hi Zooko,

I had not see this message until a few moments ago. This is really good news. I was strongly in favour of slow + pivot. But your post has made me think again.

Please correct me if I am wrong.

  • The ECC currently has finance for 24 months. (I thought it was 12 and had been working under that assumption)
  • The 2 years worth of funding, that is “cash in the bank” as in it has come from currently block distribution? (this is really important) or is it some new source?
  • If this two years has already been paid for, does this mean that even if/though the dev fund stops in 2020 the ECC has pledged to be all in ZEC til 2021? (I really hope this is the case)
  • If this is the case, new funding wouldn’t technically be needed until NU5.
  • So Governance doesn’t need to be settled for august 31st, it could be in NU 4.5
  • This would give considerable time for voting/polling/staking to be sorted out from within the community. (especially with the Placeholder people and others now shining a light on the governance thing, an area I lack in considerably so haven’t been able to bring much to the table)

Or do we still need to try to get governance proposals through for NU4 deadline?

Thanks,

http://www.umsl.edu/~sauterv/analysis/6840_f03_papers/frese/
An excerpt
"Good Planning

The first indicator, Good Planning, requires excellent forward planning, which includes detailed planning of the process implementation stages, task timeliness, fall-back positions, and re-planning. Notice that initial planning is not enough. Projects often take wrong turns, or initial solutions prove unfounded. The project manager who does not prepare to re-plan, or has not considered and planned fall-back positions when initial plans fail, will often find that the project first stalls, and then fails. We must remember that project management is not a straight-line process, but an iterative process that requires agile rethinking as the known environment changes before your eyes.

For Zcash to achieve it’s promised goals the original plan must be reconsidered and steady funding must be continued :zcash:

Zooko drops in here pretty rarely but I bet @joshs can answer your questions.

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Hi @mistfpga

Good questions.

ECC has funding for roughly 24 months assuming dev funds through Oct 2020. The current cash and ZEC on hand is under 12 months at today’s price. We need 12 months visibility, including anticipated dev funds, to give us time to pivot if the community chooses not to support our work. We’re all in - knowing that we are at risk but also with clarity that the success of Zcash requires that we be all in and hopeful that the community believes in our work. We’re all in because we believe in our shared mission. We’re all in because it’s the right thing for the future of this world we share. Realistically, this requires a codified decision in NU4. I believe the deadline for submission is Aug 31.

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i dont know…no one can recognize whos discover-support it.and low its geeting some points and money…
i hopefully succed all the leader and annoying getting sympthy.thank for this i tregger my mind to research…i ask my self all of those people inside of communities like this…he/she got mistake its failure… what kind of dignity??what kind of followers he/she illigitemate…im keep quit to break me dawn last night…thats your repputation??? instead you. push me up you break me dawn…youre question of my phone what have you done iam not insulting…thier privicy all as… you know how you are and what means…last–THE NOOD DISCOVER OF YOUR COMMUNITIES THATS WHY YOU OPERATE NOW…

i hope each of us and member good follower not for discremination…thats my thoughts of this night…

GOOD EVENING

You may also like this thread on Reddit which has a contribution from Zooko.

Seems my quick calculation i made less than 3 months ago wasn’t off much with an estiminated $234M.

Full article here with a lot more numbers including foundation, ECC alone, investors etc.
On Aug 7, 2019

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So this article is saying that since 2016 they blew almost a quarter billion dollars, and now asking for more…The more time i spend on this forum the more irritated i get at the idea of how poorly ZEC is performing on the public market. The more ZEC related tweets i stumble upon on the more i ask myself why aren’t the team doing anything to address those issues and at the very least respond to those twitter comments. It’s so easy for @zooko to just block people but imo it only makes the problem worse. We are talking about crypto community members with huge followings. And throwing Josh Silwart at those fud tweets is definitely appreciated for the effort, but it needs serious action to restore positive sentiment which could reflect on the price performance of ZEC.

How can ECC justify requesting a dev fund higher than current FR at a time where less ZEC will be mined, when absolutely Nothing has been done to focus on positive sentiment which could in turn reflect on higher price levels. This renewed dev fund will not age well if things do not improve. The crypto twitter community will destroy the price of ZEC creating a snowball effect down to miners and developers…

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thing that really jumps out to me is how much zcash ECC’s investors received, 344,400 ZEC! they really made out like bandits, and makes me question ECC’s negotiation skills. if just a couple of these investors worked together (they do imo); could dominate ZEC markets for a couple years. if anybody here wants to know who the invisible hand is capping our markets - look no further. that’s an insane amount of zcash in few hands.

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One of the problems is that many people only take the pure ECC/Foundation amount into their calculations and than there are people like me (i guess you too) that think that the whole distribution of the founders reward is wrong.

If we take that chart we see that the ECC itself “only” got about $40M, while investors got ~$50M and founders/vested employees even over $120M. My argument here is that it’s Zcash’s disitrubtion they have choosen, their design, their will, their thoughts and their way. Leaving the foundation and ECC itself with the least positions in amount of US value just shows me that something is quiet wrong with the distribution choosen. And just in June there was a small re-allocation of funds to keep the ECC over water.

Not even talking that a big part of the community calls such posts, calculations, etc. FUD & bearish instead of just thinking if there is room for improvement.

I agree with every word here. I made my own observation and came to the conclusion that the ECC dev fund advertising campaign backfired badly, no matter i warned some weeks ago about such outcome. At least that is my conclusion after the recent extreme downfall in price. I could be wrong but i’am not aware of any other reason why we fall that extremely these days.

However, i think we can be lucky to have a foundation that at least for now can balance things a bit. In my opinion the trust level would be even way less without the foundation in place. To be honest, my only hope is that the ECC and the people closely affilated get surely but slowly a feeling on how the community is reacting and how sensible/sensitive this thematic is and that without full transparancy and accountability things mostly will end pretty bad soon or late.

I personally always admitted Zcash’s technical skills but the same way i nearly question all other skills …

I believe some companies need endless funds (example NASA). But ECC for sure is not one of them.

If zcash will have a future it’s all in the hands of the ZFND.

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have a feeling ECC is going to fork zcash with a new devfund no matter what.


thinking a lot of this “what does the community think” stuff is a bit of theatre.

imo, all ECC/ZF/community’s doing is prolonging uncertainty. hope ECC responds to ZF’s request to convert to a nonprofit very soon. today would be good.

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ECC/ZF continues to delay the devfund decision; uncertainty will remain; harming exchange rates. vast majority of ZEC investors have already taken-it on the chin. prolonging this will only harm zcash investors further. this will leave an even worse taste in their mouths than they already have. this needs to be ironed out much faster.

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They are not interested in the course; investors are not the area they care about. The statement seems to be official.The trademark is at the disposal of ECC, therefore a completely independent fund will work with this company and will continue to work or not at all, therefore it is independent.