What's this Founders taking 20% off the top for the first 4 years?

What’s this Founders taking 20% off the top for the first 4 years? I came across a video talking about this.

That’s called old news and paying people for their work and / or support is how things get done in the real world of professional software development.

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So roughly by today’s prices 1.6 Billion US Dollars is fine.

Its also how the Zcash foundation is able to grant among others

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Less videos, more reading

You mean avoid taxes.

Theyre a 501c charity, like mozilla, and if you have a good enough idea you too can apply for one
There was a recent thread by the foundation here

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Gosh, how can I make sure I pay may share for a bunch of violent strangers to continue their never-ending killing sprees all over the world on my behalf? I’m really cut up about not paying my share for the killing - how will I live with myself?

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The new version got released today, things like that

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It’s called being paid for your work. I mean, really…should businesses simply give away everything to everyone just because? It’s like it it’s a sin or something to be compensated for doing actual work.

I hope the ZCash founders get rich as hell from this (and the rest of us). Zooko was living in his car at one point for f’s sake. Does the OP perform his/her work for free? Why should they?

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With so many scam ico’s one has to be cautious, his criticism isnt unfounded but all of the information exists, you just have to allocate time to read it

This is not news, the Zcash team has been transparent about the funding model from before launch.

2.1 million coins is the total allocation (10% of 21M) here’s how its spent: https://blog.z.cash/continued-funding-and-transparency/

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I don’t understand the hate for the 20%. All the work they are putting into the development of this coin doesn’t come free ya know. I want to see you develop something as complex as zk-SNARKs with no money. Good luck!

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Just ask ZCL how it worked out for them…

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Oh damn! They are going to need some ice for that burn :joy:

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So why are they not using this money to fund the development of a decent miner? Why are they allowing people to be scammed by the lack of clear information and open source miners?

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There’s been more than enough demand for the market to respond with numerous options. If you want a specific open source solution to that, where is the demand? And, if it exists, why are all those people so helpless that they can’t create or at least fund something to their own liking? To be blunt, I’m of the opinion that you’re just clutching at straws to have something to complain about.

There are many good miners out there that aren’t scams. Check out DSTM and EWBF. People have had lots of luck with these miners and just with a little google search or youtube search you will probably come to the same conclusion. There isn’t a real demand for them to create their own miner… so why put the resources such as time and money (in crypto time is everything) towards something that isn’t entirely necessary?