If you missed our Epic Cash Vitex Exchange AMA - here is the edited version:What is EPIC CASH?Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website:
http://epic.techWhitepapers:
http://epic.tech/whitepaperEpic Cash Community:
https://t.me/EpicCashMiner Chat:
https://t.me/EpicMinersGitlab:
gitlab.com/epiccashTwitter:
twitter.com/EpicCashTechSocial Media:
http://epic.tech/social-mediaExchanges:
https://epic.tech/service-listOleg✌🏻
Hello community! Our AMA with EPIC begins🚀
We are very happy to have you here, on our joint AMA👌
So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | MimblewimbleI’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga DudeHello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLongI am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | MimblewimbleI have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻nice to meet you🙂
Max Freeman | Epic Cash | MimblewimbleEpic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga DudeGreat to meet everyone
Oleg✌🏻Here we go the 1st question for you ~
1. What is Epic Cash about?Yoga DudeEpic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻Look like a real Bitcoin🙂
Yoga Dudewith privacy and fungibility 😄
Oleg✌🏻Sounds cool!
move on to the next question…
2. What makes Epic Cash better than Monero or other privacy coins?Max Freeman | Epic Cash | MimblewimbleFirst off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment.
Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻Young and hot😋
security and privacy level is very important now
but…
3. Why copy the same supply economics as Bitcoin?Yoga DudeIt is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | MimblewimbleIn 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻Interesting!
4. Why Choose Epic Cash over Grin and Beam?Max Freeman | Epic Cash | MimblewimbleFirst of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga DudeYes, all that ☝️😄
Oleg✌🏻I hope the miners read it all carefully 👌
Next question
5. Why have a development fund tax and what will it be used for?Yoga DudeDev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻Very smart!
6. What is the advantage of 3 mining algorithms?Max Freeman | Epic Cash | MimblewimbleBy having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga DudeWe love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻A wide selection of mining methods is a great way to create a stable, decentralized and large network👌
Let’s talk about persons…
7. Who are the people developing Epic Cash?
Yoga DudeWe are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | MimblewimbleIt is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻Sounds very attractive.
8. What do you think is currently lack in today’s crypto?Max Freeman | Epic Cash | MimblewimbleWe believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻It’s good to see strong and safe coin in our time
Let’s talk about your future…
9. What does the Epic Cash roadmap look like going forward?Yoga DudeFirst and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | MimblewimbleYes, we will release a mobile wallet this year.
It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga DudeThe idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | MimblewimbleEpic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻Ok, got it. Thanks for clarification!
10. What else can you tell us about Epic Cash?Max Freeman | Epic Cash | MimblewimbleWell one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga DudeDefinitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻Thank you guys, for such informative answers 🙂
Now we proceed to Section 3, where a Community can ask their questions to the EPIC team
Now I’ll open chat for the quite some time …
Oleg✌🏻Thank you all, dear community!
EPIC team, please choose the 10 best questions you want to answer.
AngeIEveryone likes Privacy & Epic Cash provides their Best Privacy to users
But,
Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | MimblewimbleFrom the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
ArnoldEven litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | MimblewimbleLTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
AlutaWhy Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | MimblewimbleFungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
JoxesIt is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga DudeWhen I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price.
By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.EWhat new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | MimblewimbleThey are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax.
this article explains in more detail
https://medium.com/@frodofreeman/overview-of-mimblewimble-cryptocurrencies-7c70be146f50SahilWhat’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | MimblewimbleIt is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at t.me/epicminers
Erven James Sato“TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS.
Does your GREAT PROJECT have plan about TOKEN BURN?
XenolinkFor deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga DudeOne thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighterHow does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | MimblewimbleDandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr MönicaHello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama
I notice that Epic Cash has 2 type of new algorithm,
progPoW version 0.15.0 and randomX version 1.0.3
NOW ,
CAN you tell me why you choose these 2 algorithm???
Yoga DudeWe went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ether/ etc there is no shortage of GPU rigs out there
plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
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