The future of Zcash in the year 2020


#23

I had to create rules because I was having trouble dealing with butterfly effect among other things, imagination running pretty wild with this one so I had to tighten the leash I suppose ( I know some of you can time travel not think about it but I can’t! Lol!)
It constitutes something like shroedingers-time traveling-other-dimensional-clone
So you Y1 are cloned Y2 (unbeknownst to either) into a parallel (mirrored) dimension
Y2 goes to Y1s dimensional future, its both you so you Y2 could find out how it would be without the effects of Y1s prior knowledge (which would certainly constitute a different (3rd) future than having been disappeared for 11 years), this should work though


#24

This is the big problem I see with them making the descisions. They are FOR PROFIT. They do not have the communitys best interests in mind**, Its a FOR PROFIT company, and like any company, profits are the the number one goal.

This is why we keep seeing these ridiculous proposals for (extended rewards, locked mining rewards)…profits must be down, and now they are trying to artificially inflate them. Funny how this is all being talked about when Zec is at its lowest point in almost 2 years.

The bear market is flushing out the scam coins. With some of the proposals, Zcash is kinda starting to look like another cash grab coin…


#25

You do realize the last “vote” for ASICs, had ZERO effect.

Why should we belive this “community vote” will have any effect on the outcome?


#26

This thread is about planning Zcash Development beyond next two years, if you want to discuss ASICs there is a separate thread for that.

As Josh @acityinohio (head of the Zcash Foundation) mentioned above, they are working on agreements with Zcash Company to share influence over the Zcash protocol, TM, etc… two years gives us time to get prepared for the end of funding and plan how to move forward from there. A vote by the community about how The Zcash Foundation moves forward is part of this process.


#27

And how was I off topic? Just because I say the word ASIC does not mean I am off topic. I was raiseing the point that the voting for ASIC didnt count. Why should we trust the voting for the “FUTURE OF ZCASH” will count?

This is on-topic…

He was saying we need a panel like we had last time, I was rasing awareness that the last panel had no effect on the outcome…how is this off topic?


#28

I haven’t mentioned off topic yet

To move forward we have to assume that the Zcash Foundation will gain more influence on the direction of Zcash based on the statements made Zcash Foundation and Zcash Company.

So assuming that a vote will matter, what then?

How do we vote securely so everyone (like yourself) feels included with broad Community consensus? How to we keep improving Zcash beyond 2020 if like you suggested, the founders reward is not replaced or extended?


#29

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.


#30

Just for clarification, Zcash Company has not asked for more money, nor has Zcash Foundation. This thread just is speculation on the future.


#31

Companies that design and manufacturer toothbrushes are also for-profit. That doesn’t mean they don’t care about improving people’s lives through proper dental care.

The Zcash company hasn’t operated the way you’re describing. There has been a large amount of community outreach and active participation toward moving power from the company to the foundation. Having future profits and a successful protocol over the long-term requires building what users want.

They do not have the communitys best interests in mind

The community has larger interests than your own best interest, specifically, GPU-only mining. This is why a governance panel was created and anyone interested in helping steer Zcash’s future could join. Many vocal GPU-only miners didn’t choose to join at all. In my opinion, this shows that those users might care less about Zcash and more about their own profits than they claim.

It would be nice if we could keep this thread to ideas and the future rather than rehashing anti-ASIC complaints.


#32

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


#33

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.


#34

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


#35

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.


#36

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: https://z.cash.foundation/blog/q2-grant-winners/

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.


#37

It wasnt me saying this.


#38

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


#39

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.


#40

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


#42

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: