What is this coin about?


#1

After reading the latest blog post and some threads here in the forum I need to express
how disapppointed I am.
The Technology behind zcash looks really promising and I'd love to use it but I really hate
your rules.
Having a look at the Bitcoin price development and seeing the potential here everyone
sees, that this thing could become really really valuable.
Zcash should , in the manner of a decentralised, distributed system, available to all and it should not
be a gated community to the rich. But you ruin it right now. 10% "pre-mined" if you'd like to call it that way
(I know it isn't but it will result in the same) is unfair and wrong.
Looking at your team page leaves me with the impression of 31 people receving 2.1 million coins. And I guess
the "investors" will receive most of it. In the end this whole thing looks like a coup to me. Seriously, this coin will
die right after the 31 will cash out.


#2

Let's wait and see how much the millionairs club aka investors actually receive. If enough people don't agree with it I will provide a fork and the millionairsclub will receive zero cash! :smiley:


#3

; ) interesting!.. when you fork zcash will you name your alt trashcash?


#4

No don't worry mate, I am sure we will come up with a better name than that. Maybe we will call it ZeroCash and they can call their coin the 1%Cash. ^^
#ThereWillBeConsensus


#5

@TrashMan how will you fund the continued development of your fork?

Disclaimer: This is a genuine question and not an attack on the person that is @TrashMan


#6

If there is demand we will find a way to fund and fork the coin. By funding I do not mean finding investors to give us money, but rather finding people who believe in the idea of being a part of this great technology. If developers of ZCash feel the same way they are welcome to join this different path of the future of this new and exciting idea, you are welcome.


#7

So you mean the Socialism vision for the future where we all collect unemployment insurance payments while we code open source. :astonished:

Fact is that serious R&D open source is driven by corporate sponsorship. Non-serious open source (a.k.a. copycoins) are driven by mining the speculators.

Zcash's team has the technical skills being the inventors of the math and technology. They will be able to make tweaks and insights that hobbiest coders won't be able to make. Those expert cryptographers and mathematicians who might be at the same level of comprehension and knowledge, will also not work for free.

Besides as I explained in my other posts on this forum, "fair" mining by debasement just hands the invested money to the electric and hardware companies, who have no vested interest whatsoever to improve the Zcash technology.


#8

Please look at my post in my thread. There are a lot more incentives than getting funded and make money. There are many other ways of getting funded and start a coin.

Not true, best example is Bitcoin.


#9

Which is all corporate funded. The core developers of Bitcoin have raised $70 million in corporate funding.

Venture capital has poured $1 billion into Bitcoin startups.