Bitcoin Forum

you guys fined your rent mining ?
i get 3 offers but dont know wich one to take..
anybody here have good offers?

Not sure what you're trying to say, but Zcash isn't a good choice if you're looking for a private coin. It requires a Trusted Setup among other things. And the people you have to trust have banking and govt ties (https://z.cash/team.html). In crypto, the only thing you should have to trust is math. When you throw people into the mix, it's a no-go from the start.

More on why Zcash is not good for privacy:

http://weuse.cash/2016/06/09/btc-xmr-zcash/

https://blog.okturtles.com/2016/03/the-zcash-catch/

https://moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php

@c789. Can you please explain the trusted set up even further? I get the general idea but why is there a need to do this and how exactly are they going to start the "trusted set up"? Is it as simple as typing down a few option in the console and then signing it with the golden key?  Also what happens with the golden key? Can it be used to secretly change things in the protocol again?

"You only need to trust the math" worked as a tagline in 2011, now it's obvious you need to trust whoever develops each particular coin, they are at the helm with the ability to sail you into the sunset or leave you completely high and dry.

Whether it is instamine, 70 founders or trusted setup it doesn't matter to 99% here as long as they can make a dollar or two.

"ZCash is a cryptocurrency project that originated from the Zerocoin/Zerocash idea, proposed back in 2013. Almost every “old time” bitcoiner knows about it. It was proposed to be integrated in the bitcoin codebase so that you would have the option to send a zerocoin-transaction using the bitcoin blockchain. You would need to “pour” your bitcoins in the Zerocoin mixer and from that point onwards, you could transact anonymously using the Zerocoin-protocol. When it became clear that Zerocoin wouldn’t be implemented in the bitcoin codebase any time soon, they worked for a while on implementing it as a sidechain.

But at some point the Zerocoin-team pivoted and decided to launch the altcoin ZCash. There is nothing wrong with trying to launch an altcoin, but, in my opinion, an altcoin can only survive long term if it actually offers something that is unique and probably can’t be adopted by bitcoin. The fact that it’s possible to add ZCash as a sidechain to bitcoin, should already raise some red flags.

The ZCash team decided to launch ZCash as an altcoin so they were able to fund the development: ZCash has a US-based company behind it and will tax 20% of the mining revenue during the first 4 years to pay off private investors. If ZCash were to succeed, the private investors will benefit greatly from the launch of this cryptocurrency. Although I don’t like ICO’s, a public coinsale (a form of crowdfunding) would have been a more fair and open way to fund development than seeking money from private investors.
This is in great contrast with the launch of Bitcoin and Monero, which were fairly launched, without “premine”, “mining tax” or some kind of company behind it. In my opinion, a successful large cryptocoin will probably be grass-roots, but it’s possible I’m mistaken here. Maybe some people actually prefer a corporate coin like ZCash. Time will tell.

But let’s dive into the tech a bit to compare its features with Bitcoin and Monero. The first thing that strikes me is the fact that ZCash allows transparent transactions: mined coins are bitcoin-like transparent “base coins”. When you want to spend them, you have the option to do an anonymous “pour” to enter them into the ZCash mixer. It’s basically the same idea as using Zerocoin as a sidechain."

Very good summary  :-*

As soon as it's released it's gonna get forked anyway because of the Millionaire's Club. No doubt the market will become saturated with ZCash clones and the whole thing will turn into a giant cluster-fuck.

Will be amusing to watch though.

zcash is not released yet you cna only mine testnetcoin and only with cpu, there is not even a gpu miner, so i'm out of it for now, auntil they sort if out, and lol the initial block reward is ridiculous low, like 0.2

I heard there would be a GPU miner. But that will be based on the Linux. So it is not very good for us.

I am looking forward to mining zcash and I am trying to buy all the AMD cards I can , if anyone is interested in selling then please PM me ASAP.
The guys from zcash-cloud.com and the zeropond guys are doing great work in setting up massive pools .

I think the amount of hashing power being aimed at block 1 will be ridiculous. I will be buying from both companies as they are both very well trusted at this point. I saw the futures market for Zcash is already at 100 USD each , the markets are already being made . zcash ... its a great time to be alive. goodluck everyone.

Inb4 Zionist illuminati conspiracy theory posts flood the topic

Meaning Zcash has no assurance to anyone here. Therefore whoever will participate in this need the individuals must decide to be a risk taker anyhow.

ZCash is quite risky at the moment. But it might rise a lot in the next few months if there is big hype.

Yeah no one gives a shit about anything other than making a quick buck.
This includes bot users and devs.
That's why every exchange is nothing but a bunch of shitcoins getting pumped and dumped.

But I feel bad for anyone who trusts Zcash to be anonymous.
They are in for a bad time a few years for now when the Mossad shows up at their door.
(Sorry to be the one posting the conspiracy theories LOL)

to me it will be just a pump and dump. i'm sure it will have some fomo at the launch so i'll mine, but i dont trust it in the long run. the whole concept is messed up.

thanks for replay guys..i think i will rent some hash on nicehash for 10-20 btc and see what happen ;)...

It usually come with big hype when coin like zcash first release then it dying out and bagholders crying for help.

True,its can happen...
thx got i make good profit with another coin from 0.06$ to now 0.55$ so i have some profit extra i can play games again ,lottery crypto

It depends on the initial hyped price. If the average price in the first month is less than $10, it will be good for the long term.

ZCash is at everywhere but a 100$ ! These are IOU coins, and like always, price of those IOU tokens is AT LEAST ten times higher than the real price.

There is much hype.

Miners think they will earn ungodly amounts of money in this coin, or at least the hype is telling them that.  Private farms are sending crazy bids to software devs to get their hand on efficient gpu miners.  People are buying up cloud mining as fast as they can offer it, and a single gpu can net a cloud company somewhere around $2500.

But im kinda thinking all this hype is going to byte them in the ass.  Maybe price will hit highs say $10-20 in the first few weeks then it will settle down.

Same here, it's all about trading hype. This tech need much time to be tested in real world use.

zcash = US Federal Reserve. It creates money, charges a 10% tax, and the ledger cannot be audited.  

How many hackers will be working on figuring out how to print new coins?  You can bet that every hacker that has ever attempted to attack other coins will work to attack this one.  They will never get caught.  No way to know how many coins are really in circulation.  

Zcash Corp is dangerously launching new tech with no means of auditing the blockchain or totaling coins in circulation.


The idea of the privacy is what draws you in but greed blinds you to the faults.  Hypers are blinded by greed.  They do not care that the system is seriously flawed.

 zcash is will be everything bitcoin is not.  

• zcash will have a blockchain that cannot be audited which means there is no way to find hacks or track the true circulation.
• zcash will charge a tax on miners to pay investors - 2.1 million coins across 4 years
• zcash is a corporation with share holders in the company - what will happen when the corporation needs more money and needs to pay investors?
• zcash is a privacy focused currency with known knowns based in the privacy friendly US

[/quote]

Bitcoin's blockchain was revolutionary in that it solved an issue that plagued digital currencies; trustless verification to prevent double spending. Without this one needed to trust centralised parties not to deceive or be coerced.

With Zcash you need to trust Zooko and co not to deceive you to increase the money supply (you wouldnt know otherwise) and not to be coerced (for instance by government), bearing in mind the company Zooko moves with (look at his investors and advisors - the who's who of alt pump and dumps) trust is crucial.

Fact is Zcash is a privacy orientated digital currency that requires complete trust.

Bitcoin is a digital currency where privacy can be incorporated and it trustless.

That tax is one off. There will not be any tax after 4 years. You can say the miners will charge a tax or fee.