ZIP Proposal - 8-15% Opt-in or 4-7.5% Mandatory Dev Free |75% Zcash Foundation 25% ECC|

I strongly disagree with this for two reasons:

  • There is no limit to the number of “most uncharitable positions”. “Zcash is an NSA plot.” “The ASIC resistance debacle is because ECC is compromised by ASIC manufacturers.” “ECC has a secret plot to unduly influence the dev fund discussions.” “ECC’s partnership with JP Morgan is a secret plot for bankers to destroy Bitcoin.” … How much time should we spend on each one?
  • There is no limit to the amount of time to address a single uncharitable theory because it is not possible to resolve such claims in a discussion. They are fundamentally about people’s “hidden intentions”. No amount of evidence or investigation or public vows or attestations will ever settle such claims.

So let me respond to all of them at once:

If Zcash or ECC or the Foundation is compromised and has secret intentions, then the great thing about cryptocurrency is that no one forces you to use it. You can sell your ZEC and tell your friends to avoid it. Done. Problem solved.

Meanwhile- I believe there are many legitimate criticisms of Zcash which are charitable. You can tell the difference because these issues can be addressed by discussion and do not rely on beliefs about people’s hidden intentions.

Maybe ECC hasn’t used funds effectively. Maybe opt-in privacy impedes the big picture goal. Maybe the parameter setup is too risky for a global financial system. Maybe ECC’s biased and has blind spots and that will derail the true potential for Zcash.

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