Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. you forgot the /s tag, right? No, they are serious about this proposal. See: https://www.youtube.com/watch?v=P6RLjcGVUnw&feature=youtu.be&t=29m00s& http://weuse.cash/2016/10/28/the-untrusted-setup/ (under "Chain rollbacks") |
|
|
|
Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
FWIW, if the trusted setup fails, privacy is apparently not compromised. The "only" problem is that anyone who possesses the toxic waste from the trusted setup could create infinite coins for nothing. And, no-one would know about that supply. Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. It isn't compromised until the exploit is used. However, after the exploit is used the attacker could comprise privacy too. See this article (under "Sybil zk-proof attack") for a more extensive explanation: http://weuse.cash/2016/10/28/the-untrusted-setup/ |
|
|
|
It is bordering insanity to buy now. We are right at resistance and the VWAs are coming to meet us from above.
If you are out, a much better bet is buy when the resistance is cleared (let's say 0.012) or we descend to the last week lows (0.0058) or the support (0.0042).
I don't usually consider shorting XMR but this is one of the rare occasions.
Shorting when we just broke out of the exponential downtrend of 2 months seems a bit unwise. In addition, the daily MACD flipped to green.  |
|
|
|
Fully funded. Thanks to everyone who donated! |
|
|
|
I hate to say it but I think monero may actually be better than zcash but I still have a few questions. My problem is with the zcash trusted setup, but back to that later. First a question about monero. So monero has a invisible blockchain as do all cryptonote coins. But what if Alice sends bob $100 in monero and bob claims he never got it? Since xmr does not have a transparent blockchain (btc, etc) to publicly audit I guess Alice would send bob the wallet viewkey right? What if a 3rd party (ebay, etc) needed to review the dispute, Alice would just send them the viewkey too, right? What if bob or the 3rd party published the viewkey on the internet, Wouldn't everyone be able to see the transaction and wouldn't everyone be able to see all the wallet addresses or transactions? Thanks  If so, is the same true of zcash? There is a viewkey for your wallet and individual viewkeys for each transaction. If Alice sends Bob 100 XMR and Bob says he never got it, Alice can prove it using the transaction id, the transaction viewkey, and the public XMR address of Bob. Here is a tool to do so: http://xmr.llcoins.net/checktx.html(somebody correct me if i am wrong) No this is correct. The "individual view keys" you mentioned are called private tx keys in Monero. @MasterMined710, some more information can be found here: How do I prove that a payment has been sent to a particular address?
https://monero.stackexchange.com/questions/1860/how-do-i-prove-that-a-payment-has-been-sent-to-a-particular-addressHow to prove my Monero balance to a world?
https://monero.stackexchange.com/questions/1283/how-to-prove-my-monero-balance-to-a-worldP.S. There is a wealth of information on StackExchange. Thanks guys, that's better than i thought it was. "It doesn't prove you sent the amount, but it does prove that amount was sent (and received). – Luigi Oct 3 at 18:46" So i guess it doesn't show the address it came from just that the amount was sent from someone to the address? The easy solution would be to generate a new address for each transaction. Not as easy as having a public blockchain anyone could quickly verify but a good solution nonetheless. I'll ask my other questions when i have more time. Thanks again. You're welcome and that's correct. |
|
|
|
I transfered hours ago and i still haven't received funds yet  Could you give a bit more details on what exactly happened? |
|
|
|
I tried to upgrade to version 0.10 from 0.9.4 and it's telling me my database is incompatible and I need to recync? Do I need to download the whole blockchain again? What did you do in version 0.10? :/
Yes, you should download / resync the chain. It's a lot faster now, but will still take quite a while if not on an ssd drive. Thanks. Ok thanks. I'll postpone the update for quite a bit then To add, the resync (or migration) is needed due to the significant performance improvements and reduction of the blockchain size. |
|
|
|
Some USD support in this area:  Also the 78.2% Fibonacci level is at ~ 0.007. |
|
|
|
I hate to say it but I think monero may actually be better than zcash but I still have a few questions. My problem is with the zcash trusted setup, but back to that later. First a question about monero. So monero has a invisible blockchain as do all cryptonote coins. But what if Alice sends bob $100 in monero and bob claims he never got it? Since xmr does not have a transparent blockchain (btc, etc) to publicly audit I guess Alice would send bob the wallet viewkey right? What if a 3rd party (ebay, etc) needed to review the dispute, Alice would just send them the viewkey too, right? What if bob or the 3rd party published the viewkey on the internet, Wouldn't everyone be able to see the transaction and wouldn't everyone be able to see all the wallet addresses or transactions? Thanks If so, is the same true of zcash? There is a viewkey for your wallet and individual viewkeys for each transaction. If Alice sends Bob 100 XMR and Bob says he never got it, Alice can prove it using the transaction id, the transaction viewkey, and the public XMR address of Bob. Here is a tool to do so: http://xmr.llcoins.net/checktx.html(somebody correct me if i am wrong) No this is correct. The "individual view keys" you mentioned are called private tx keys in Monero. @MasterMined710, some more information can be found here: How do I prove that a payment has been sent to a particular address?
https://monero.stackexchange.com/questions/1860/how-do-i-prove-that-a-payment-has-been-sent-to-a-particular-addressHow to prove my Monero balance to a world?
https://monero.stackexchange.com/questions/1283/how-to-prove-my-monero-balance-to-a-worldP.S. There is a wealth of information on StackExchange. |
|
|
|
|
Show Posts
