Just as a reminder, ECC gets about 14.25% of that amount (0.119 / 0.835, accounting for the investors receiving all their ZEC in the first year (source: 2016 blog post)), and the Foundation gets about 17.25% (0.144 / 0.835). At the USD amount you gave, that amounts to about $374,000 monthly to ECC, and $452,800 monthly to the Foundation.
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I really appreciate your insight on how you see things. However, as an investor, I will continue to keep an eye on ZEC, this project has clear potential in my opinion.
I wish you every success with your future projects. Keep it up.
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Not sure if i understand you correctly here, but to calculate it again:
Monthly Miner Reward: 175,000 ZEC (80%)
Monthly Founder Reward: 43,750 ZEC (20%)
Todays Price: ~ $60
Makes a total todays Founder Reward of: 43,750 x 60 = $2,625,000 for April 2019, not?
That’s what i call “budget” as these funds are than being alocated to the various receivers, employees, advisers, investors, whatever/whomever.
Founder’s Reward != Money available for the ECC and foundation
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This is correct. The assertion that the Electric Coin Company receives significant funding from the FR is not accurate. Without double checking @str4d’s math, it looks right. We’ll publish more information about this and our spend in the coming weeks.
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Ok, going through it step by step and let’s see what i miss and where i’am wrong:
From the Zcash Page: Funding, Incentives, and Governance - Electric Coin Company
Zcash’s monetary base will be the same as Bitcoin’s — 21 million Zcash currency units (ZEC, or ⓩ) will be mined over time. 10% of that reward will be distributed to the stakeholders in the Zcash Company — founders, investors, employees, and advisors. We call this the “Founders’ Reward”.
==> Didn’t i wrote exactly hte same?
from the Zcash Page:
80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders.
My Calculation:
As the Founders Reward goes to the Founders Reward Adresses and get’s than splitted to the various receivers of it (my guess of course). Hence i wrote it’s the budget and later it get alocated/splitted/distributed to the varous receivers: ECC, Foundation, Employees, Investors, whomever/whatever.
So where is my mistake in the above written and calculation?
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“Against this we have an expering Founders Reward and thus less or even vanishing development. Zcash company changed it’s name into ElectricCoin Company.”
That hasn’t stopped Ethereum Classic.
Right, it didn’t stop ETC being just a coin without any features, innovation, privacy, scalling, whatever … Absolutly true that for ~0 development you don’t need funds at all.
My argument you quoted was “less or even vanishing development”. Just let me know how you think development will continue with the same pace the next years after the founders reward has expiered??
But than again, ETC has a big gpu community that keeps it somehow alive
It’s what you implied by this statement. Only a portion of the FR comes to the company and foundation to fund r&d, engineering, development, marketing, international regulatory relations, legal/trademark, business development, support, community development, etc. on a global scale. It’s like stewarding a public international business with hundreds of millions of user’s money at stake, using complex and not-well-understood tech/cryptography, in a fast moving nascent industry, on the budget of a small company. I’m fine with criticism. But the actual funds available to the company and foundation are less than you appear to imply.
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The Founders Reward is just as much as i posted, correct?. The internal Zcash/ECC Founder Reward Distribution by decision/design is what makes eventually the left funds for R&D for example way less in % of the whole Founders Reward.
I’am too lazy to make a whole chart month by month to see how many funds have been available in total for each month (which would be an interesting one) as right now with the low price the Founders Reward for April 2019 is “just” worth ~2,625,000, but April 2018 it was ~13,125,000 for example.
And yes, such funding is strong and big in my opinion.
I fully understand where you are coming from and your thoughts and interpretation of the matter and that you count only the final funds that go into R&D for example. But again, that’s your (not personal you) distribution, your choice, your plan, your budget, your whatever.
If i have a business for example and make let’s say 10M profit per month, but invest only 10k later into R&D and 9,99M into other tasks than it’s my decision that R&D gets only that much from the whole budget. I well know that it’s a bit more complicated due investors, Zooko’s share and so on, but again, that’s your decision/agreement/distribution of the Founders Reward…
Not bad either. That’s good for paying 500+ employees per month here in Bulgaria (EU)… Just as an interesting comparison…
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Even if Zсash isn’t the top 20 this year (it’s generally not important for me), it will the top 10 no later than 2030. This will happen on the basis of the emission algorithm, due to the growth of the hashrate and unique properties of Zcash, that provide an ideal monetary function.
But in the top 20 there will be no POS-coins left by that time.
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That’s what i call endless optimism …
Won’t comment much of your post just about the unique properties of Zcash, have in mind that every coin can get these for FREE at any time and about a dozen did allready with more to come in future i guess… Best example is Ycash in 2-3 months with 100% the same Zcash code expect modified mining algo and founders reward…
Anyone can copy paste the code, but you can’t copy the team, or all the places it’s accepted/exchanged.
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That’s not what they need at all. As far as i know Litecoin, Bitcoin, Tron, x others, have their own team(s), exchanges, places, whatever and just can implent Zcash “unique” privacy features/code at any time they decide to do so… Actually that’s exactly to happen soon or late…
It didn’t happen when it was must to happen, and so it will never happen.
You are only one who talks here using arguments, others trying to find exuses and playing with words instead to explain what really happens. No need to be en expert to understand that something wrong in the company.
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What factors do you think indicate that something is wrong in the company?
- what do you think important for cryptocurrency? Users? Or for whome it is?
- so what happening with users during whole last year?
- how users evaluate ZEC to BTC?
I didn’t “leave”, but I had to release my ZECs due to a pressing personal need. For the loss I got an education in return so there’s a plus there…
I’m waiting for the price to become more depressed in the near term since I’m bearish on price over the next 18 months. If I’m right, I’ll accumulate again.
For the record, I was against ASIC’s from the start. I believe it was wrong to allow them and it kicked all those who invested much money, time and effort on getting the project going right in the you-know-whats. The reasons are obvious against ASICs. It was a poor choice not to fork. (though I do not want to shoehorn that debate into yet another thread!)
I’ve been operating my node faithfully now for almost a year since I shut down my GPU miners. I just checked my node this morning 15 minutes ago and the diff is now 5.2gh/s…wowow. Seems all this mining effort is really only making Bitmain rich. How are the rest of us faring?
Anyhow, hi all…I’ve been absent for a few months to step back and concentrate on work demands. I hope everyone took advantage of the dip to 50 and dumped at 70 recently 
I didn’t see that coming!
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