There is no way to setup zcash without a trusted setup! Therefor every fork would need a trusted setup. My proposal would be to let the community decide to do the setup and vote. I think there are trustworthy people within the community that are willing to do the setup and somebody will volunteer to do the setup.
Most of the research needed is to develop the coin and launch it, if there is an error that lets people create coins out of thin air this problem would be in both the original zcash as well as in the fork. At this point zcash is dead. And I donât mean âdeadâ as in âbitcoin is dead for the tenth timeâ but rather as in it will be worth literally nothing. I would appreciate if people would develop software further, but the protocol needs to be finished when the genesis block is created.
Also I am not trying to convince people to choose the fork over the original, all I want is to give people the chance to decide if they want to support the 1% or rather support a coin free of the millionaires club. I have no financial gain in convincing people to use the fork as I will not be replacing the millionairesclub.
Hey folks, Iâve flagged a few of the comments on this thread as inappropriate because they donât fit our community guidelines.
I am pleasantly surprised to see that the vast majority of the discussion is entirely civil and constructive, even though there are serious disagreements under discussion. Way to go, folks!
@TrashMan: I suggest that you set up your own forum for discussion of your fork. Weâll leave a description of your fork here along with links to your forum.
That is a good suggestion I will just have to see if I can get a team to work on the fork before I will set up everything. And thx for linking to it when it is ready, youâre a good sports.
This is exactly why your Fork wonât work. You said yourself it is not possible to make a Fork of Zcash without a Trusted Setup, therefore it becomes a matter of WHO we trust; Zooko and his team who have been honest and transparent this entire time? Or the guy who starts bashing on a coin only to flip-flop later and say it will actually be OK if you do it âmy wayâ?
My moneyâs on Zooko and team, good luck with that fork.
I disagree, the fork is not about the trusted setup it is mainly about not having the Funderâs Reward in it. I let the community decide who will do the trusted setup, it can even be Zooko who does the setup if the community votes for him. Your money can be on anyone who want, in the end it is the community that matters. Feel free to vote in the poll, it will help to find out the opinion of the community.
Satoshi Nakamotoâs possible holdings are 100% irrelevant in the subject since he literally had no choice but POW mine bitcoin being pretty much the only one doing so for months. Itâs also worth noting that as opposed to 2010, we all now know that a new and serious crypto project WILL carry hard value, and that getting in for âpenniesâ on the ground floor is worth a LOT. From what I can tell, the risk/reward for the investors is skewed exceptionally hard in Zcash case.
I am not saying itâs all bad, just that 20% seems like a very high percentage for a limited commitment.
That 20% figure holds for the first four years, thereafter that figure approaches 10%.
Is four years such a limited commitment? Also, if you had been approached to contribute to the initial funding, would you have objected on those same grounds?
Remember itâs the anarchist and philosophers who are driving cryptofuture. When power is concentrated in few ( the pyramid), this group will rebel. So why not get the philosophy of cryptocurrency straight before launching.
This has already been discussed many times and hereâs where things ended up:
The founders reward is here to stay.
Zooko was nice enough to make a poll for trashman to get community feedback about the fork, you can find it in this forum. The results speak for themselves.
The fork is allegedly already going to happen, they announced it on Reddit. Itâs called G-cash, they supposedly already have a couple people working on it, lauches a week after Zcash.
Zooko was again kind enough to offer to help the devlopers of the fork in the old Zcash Reddit (now deleted), but they refused, citing a conflict of interest. This means the fork will be risky as hell because you will just have to trust whoever is working on it not to leave in a backdoor, not to premine it, and to be smart enough to fix any security problems that may arise in the future.
So thatâs why this thread is way out of date and not worth digging up again.
I disagree with @Shawnâs interpretation that G-cash will be ârisky as hellâ. Well, it isnât so much that I disagree that G-cash will be risky, as much as that I think both G-cash and Zcash are going to be risky. My offer to the G-cash devs is intended to reduce both of our risks by sharing auditing and fixes. For that matter, I also think that Ethereum and Bitcoin are risky.
Hey everybody! Shawn volunteered to help moderate this forum and we (Maureen and me) accepted! Thank you, Shawn!
Thanks for the Vote of Confidence @zooko@daira and Maureen!
I really believe in Zcash and the work youâre doing, I am happy to lend a hand to help the developers concentrate on the big problems like squashing bugs.
Indeed, risky is par for the course with any new crypto currency. I personally would have more faith in the currency that has the team of Developers and Professors who actually invented the protocol behind it than any forks. But thats just me.
So as I am brand new to mining but I have a good friend who has been mining for a number of years now this thread was pretty cool to read. But to the the ones saying the investors are getting too much I did a little math (sorry iâm not good at spreadsheets lol) There are 46 people/companies listed on the âTeamâ page. Assuming each one is receiving an even number of the 2.1 million total coins, each one would would receive 45652.173913 coins over an estimated 4 year period.
Now I would assume there would be some selling/buying going on before the end of the 4 years anyways.
And also how is it getting distributed? Is it going in a certain order 20% of this coin goes to you and 20% of this coin goes to you and so on. Or, is 20% of this coin getting divided up between 46 people so each person will get 0.0043478% of each coin?
I also doubt that all or even half of the âTeamâ are going to dump everything and kill the coin and from what I understand 1 or 2 people doing it will not hurt anything.
I think itâs a fair number and after reading up and having my friend explain ripoffs like premining and air drops Iâm super excited to get this thing rolling. I have never mined or used Linux before but I had the alpha up and running on a vm in a couple hours. Iâm all in and the nay-sayers will just have to miss out if they donât want to partake.
Why give any thought to the impact of how %20 of the block reward may be traded over the first four years when the other %80 will be in the hands of people who are also free to do with it as they please?
Because people arenât worried about that, theyâre just envy of potential profits. Those who will get that reward have more reasons to hold it long term than just to dump it right away imo. Those usually arenât weak hands.
People just donât like to see other people make easy money. They forget without that investment, Zcash wouldnât be delivered, would take much more time and devs might not have the best conditions to develop. People always want the best of both sides.
My offer to the G-cash devs is intended to reduce both of our risks by sharing auditing and fixes. For that matter, I also think that Ethereum and Bitcoin are risky. 