Zcash as a Payment System


#41

I reread what I wrote and maybe it was a bit hard on BOLT and second-layer. For the record, I’m still very excited the about BOLT and think it will be integral for applications beyond what I can envision right now.


#43

I can’t make a case for shielding the purchase of a cup of coffee or a tank of gas but for more personal purchases I easily can. It really comes down to how tight you want your life’s information to be. if I could only pick one choice I’d always shield and just carry on as usual.


#44

Its not about visibility of transaction for paying your coffee that matters, its that coffee guy can see how much money you have remaining, and how much money you are making on your job etc. by examining the address that sent him the money for coffee (if we imagine salaries are paid in crypto in future).


#45

i am getting in the habit of only using shielded addresses. I also am asking the people i transact with to do the same.

I just got off the phone with my local bitcoin dude (he has owned btc atms in my area since 2014) and he is up to accepting zcash otc.

although even he is not familiar with how to create a shielded transaction yet. Once we see more wallets using shielded things will get much better. Not to mention shielded on mobile.


#46

Crypto is difficult when things go south. There’s no customer service that can make things right. In the event a merchant claims you didn’t pay… I still don’t know how the viewing key works. Has anyone used a viewing key to show details of a shielded->shielded transaction?


#47

Tell your guy to use zec-qt-wallet. It uses shielded addresses by default and is super easy to operate. It is a full node though, so it occupies a decent amount of disk space to store the blockchain.


#48

Selective disclosure is still an experimental feature and currently works only with Sprout shielded address. As soon as it’s updated to support Sapling, it will be implemented in zec-qt-wallet.


#49

You mean, on a general basis? The same question as with other cryptocurrencies. Too vague for now to foresee.


#50

Is there any practical use of Zcash?


#51

Recently i have seen some projects that seem to work on master keys.
Means all transactions whatever shileded/confiedent/hidden, but various institutions could get their master key for viewing transactions.
Not sure if it works out, but at least it’s an interesting approach on privacy and regulator friendlyness.


#52

Plenty.


#53

I think it is too much unpredictable. The market is new and unprecedented, so you should weigh the risk everytime.


#54

That’s right. There are high risks to stay with nothing. That’s why it is advised everywhere to think carefully before going with crypto.


#55

Exantly it should be more than +5