The only real winners will be the founders/cooperations behind zcash.
Doing "nothing", getting 20% of each block, sell at insanely inflated prices to naive buyers who fell for the marketing/hype.
Are people really that blind?
Some yes. But as I already said, i guess most logged buys are just fake buys (zcash offers, zcash buys) --> hype hype hype Most likely right, because even if some are totally stupid the high volume can't be explained with that. 2323.17968481 BTC / 31.67221072 ZEC |
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what in the world, high of 3299.99 BTC in poloniex!
I've never seen something that crazy. I believed in ridiculous high prices but I thought about 2-5 BTC and that already would be mad. It's still at 30 BTC per ZEC. And this says it all: Volume so far: 2043.60423703 BTC / 20.70619847 ZEC |
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the coin is going no where, lots of ppl will burn cause the price will be always on a downtrend ! mark my words..!
If it's about such ridiculous prices - of course, it's a safe prediction that it will go down and down and down maybe for weeks, while the hashrate will go up and up and up. |
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I did not take it that way and I didn't represent it that way. Exactly because he is NOT a Zcash-fan it can be nearly excluded that he would be part of some kind of conspiracy.
Although I would find it hard to believe he is part of a conspiracy it is not out of the realm of possibility. Also as I stated he was nothing more than part of the mechanism and he had no knowledge of the mechanism himself so therefore cannot vouch for it's reliability. ERGO don't throw his name around as if he Endorses Zcash, when he specifically stated not to. Oh boy, first you should show me where I did throw is name around "as if he endorses Zcash". My point is exactly because he does not! And yes, like I've said: I agree that it's not safe to say that the trusted setup wasn't compromised. But: We also don't know who is Satoshi. Some believe Bitcoin is a NSA-project. We don't know if it's centralized because all chinese miners, or at least the biggest farms, could be in the hands of the chinese government etc. What I want to say with that: Nothing is ever really sure. |
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I did not take it that way and I didn't represent it that way. Exactly because he is NOT a Zcash-fan it can be nearly excluded that he would be part of some kind of conspiracy.
No need to be a fan. Some $ will handle everything. And if not, there are still hackers who could infect the process. I absolutely agree that there are risks. I don't like the idea of a trusted setup at all. But I believe that they've done everything possible to reduce that risk and I don't believe that there is something like an internal risk. With other words: It's not the number 1 - risk in my opinion. I believe the highest risk is about usual bugs with potentially huge impact but without being even visible in a design that even covers the total supply. |
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What is an interesting question: Futures are nothing reliable, but if we think about the market-situation: There will be nearly no supply for days and weeks. After about 2 weeks just 20k Coins will exist while the first 3 days not even 1000 ZEC will be out there. Day 1: just about 100 ZEC. I believe it's possible that some really will buy to prices like that or at least really high.
It will be like that. The buyers will be simply investors/team-Members of zcash. Hype the hype. It is so obvious. But reading some replies at btctalk and in some other boards i already see a fanbase who want to get screwed  And some are ofc some miners taking advance of that situation and support the hype  I also thought about that possibility. That those, who are interested in establishing a high price, could buy at high prices for some time. And I would say mining-farms would have the most interest to do that, not necessarily the Zcash-team. But either way: There is so much hype, this gets so much attention, I really believe that there will be some guys who will buy Zcash at ridiculous high prices. Most likely the first "supply" on the exchanges will be about 0.00x Zec... and so on. And thousands waiting and asking themselves if this will be the next big thing etc. I really have no idea what Zcash will be. But at least it's not boring! By the way: It just launched. |
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If its true that the trusted setup was done behind closed doors and with only 6 people involved then it surely cant be trusted. Can anyone confirm how the setup was done?
Why wouldn't they use hundreds or even thousands of people generating shards of the golden key and have them all doing it in different ways to just about guarantee that there was no funny business in the setup. Without the ability to audit the blockchain we cant know if they created a gazillion coins or just 21 million. The technology behind Zcash whereby making the entire blockchain a black hole is great for anonymity but not so great if we cant trust how many coins are in this black hole.
I don't even think that this is the major problem. It is likely that one or more computers of them is infected. It is just to easy for professional hackers. And this not a kind of conspiracy theory. It's a honey pot for any hacker to get these data for a money printing maschine. Exactly. We have to trust the setup, and if this was how it was done, then that doesn't inspire a lot of confidence in it. I'm sure that the trusted setup is all right. They did a lot to ensure it's security and also something one could call "decentralized honesty". Peter Todd was involved for example etc. But: As far as I know it won't even be visible on the blockchain how many Coins exist at a certain point of time. It doesn't need a compromised setup but "just" a bug like it happened to Bitcoin in 2010 (*) while nobody would know about it - just the market. At the same time: Because of this ridiculous hype I rented some hash-power at bnkofthefuture - so I hope it will be all right and people will buy this. Futures are trading at 1.5 Bitcoin right now: https://www.bitmex.com/app/trade/ZECZ16 What is an interesting question: Futures are nothing reliable, but if we think about the market-situation: There will be nearly no supply for days and weeks. After about 2 weeks just 20k Coins will exist while the first 3 days not even 1000 ZEC will be out there. Day 1: just about 100 ZEC. I believe it's possible that some really will buy to prices like that or at least really high. * On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or "blockchain" which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.[16][17] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.[18][19] This was the only major security flaw found and exploited in bitcoin's history.[16][17]https://en.wikipedia.org/wiki/History_of_bitcoinTodd specifically Tweeted not to use his participation as endorsement!!! I did not take it that way and I didn't represent it that way. Exactly because he is NOT a Zcash-fan it can be nearly excluded that he would be part of some kind of conspiracy. |
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Hello,
I have a problem, After an upgrade of the Android app the app asked for a password of "credential storage" (In spanish version of app Contraseņa de almacenamiento de credenciales), I tried to introduce all the passwords that I wrote down on paper when creating my account and none is accepted.
What I can do?
Best regards and thanks for your attention.
I've copied your question in the Slack and I or LykkeX will post answer as soon as we have it! A very direct way to get in touch with the team is also the telegram-channel: https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAgThanks very much! Cryptops, which version do you use? They've told me that it seems as if it's "kitkat"? Most likely it would be best to contact support@lykke.com. |
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If its true that the trusted setup was done behind closed doors and with only 6 people involved then it surely cant be trusted. Can anyone confirm how the setup was done?
Why wouldn't they use hundreds or even thousands of people generating shards of the golden key and have them all doing it in different ways to just about guarantee that there was no funny business in the setup. Without the ability to audit the blockchain we cant know if they created a gazillion coins or just 21 million. The technology behind Zcash whereby making the entire blockchain a black hole is great for anonymity but not so great if we cant trust how many coins are in this black hole.
I don't even think that this is the major problem. It is likely that one or more computers of them is infected. It is just to easy for professional hackers. And this not a kind of conspiracy theory. It's a honey pot for any hacker to get these data for a money printing maschine. Exactly. We have to trust the setup, and if this was how it was done, then that doesn't inspire a lot of confidence in it. I'm sure that the trusted setup is all right. They did a lot to ensure it's security and also something one could call "decentralized honesty". Peter Todd was involved for example etc. But: As far as I know it won't even be visible on the blockchain how many Coins exist at a certain point of time. It doesn't need a compromised setup but "just" a bug like it happened to Bitcoin in 2010 (*) while nobody would know about it - just the market. At the same time: Because of this ridiculous hype I rented some hash-power at bnkofthefuture - so I hope it will be all right and people will buy this. Futures are trading at 1.5 Bitcoin right now: https://www.bitmex.com/app/trade/ZECZ16 What is an interesting question: Futures are nothing reliable, but if we think about the market-situation: There will be nearly no supply for days and weeks. After about 2 weeks just 20k Coins will exist while the first 3 days not even 1000 ZEC will be out there. Day 1: just about 100 ZEC. I believe it's possible that some really will buy to prices like that or at least really high. * On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or "blockchain" which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.[16][17] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.[18][19] This was the only major security flaw found and exploited in bitcoin's history.[16][17]https://en.wikipedia.org/wiki/History_of_bitcoin |
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Very interesting video: Richard Olsen about Lykke idea and objectives
In October the Lykke team - 22 people from 7 countries - met in Montenegro to sum up the results, get updates on the company strategy, coordinate planning efforts, and enjoy the company of colleagues. We were filming the meetings for internal use, but later decided to share a few things with the community as it might be of interest.
In this video Richard Olsen, Lykke founder and CEO is speaking about the idea of Lykke and the company objectives.https://www.youtube.com/watch?v=leXWIhS4Y3k |
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Hello,
I have a problem, After an upgrade of the Android app the app asked for a password of "credential storage" (In spanish version of app Contraseņa de almacenamiento de credenciales), I tried to introduce all the passwords that I wrote down on paper when creating my account and none is accepted.
What I can do?
Best regards and thanks for your attention.
I've copied your question in the Slack and I or LykkeX will post answer as soon as we have it! A very direct way to get in touch with the team is also the telegram-channel: https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAg |
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after the initial hype, the ZCASH price will bleed out painfully until it finds a floor.  That will depend on how good it works. If there shouldn't be any setbacks and it works how "promised" - the price can be expected as high. I also believe that it will decrease after the first month, because more and more Zcash will flow on the market, but... it will most likely about hundreds of dollars. |
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How can you guys tell the price before launch? and since when bitmex is a reference?
Nobody can know what the price will be. Bitmex is just betting on the price. But, the situation will be really interesting because unlike others who do an ICO without much attention, Zcash is already kind of a hype but there will be nearly no supply for at least 1 month (slow start). And that could establish a very high price. And if we think about a successful-scenario, that Zcash should be at a marketcap of $500k after one year, that would also mean: About 0.2 BTC per Zcash Since some even believe Zcash could dethrone Bitcoin it might be even higher if nothing goes wrong. But, I'm really just speculating here. There are some points I really don't like. Trusted setup and how much the company gets of the mining reward etc. |
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Yes its ABSOLUTELY NUTS that people are paying those prices for Cloud mining.
That right. The Cloud mining is 4-10 times over priced. So that is only for the people who do not know how to mine. It's impossible to know if something is overpriced. Nobody knows the hashrate of the network for the next days and months and nobody knows the price of the next days and months and years. |
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This whole thing to me just looks like a cash grab for all the investors. I know people will buy into this coin anyway in the hope to make a quick buck but to me this is one of the most unfair dispersal of coins ive seen yet. I was really hopefull for this coin in the beginning but now out of pure principal i wont ever invest into it.
If the ZCash is used by many privacy concerned people, then the price of ZCash could rise a lot in the future. ZCash-Futures are pretty high, at 0.37 BTC right now: https://www.bitmex.com/app/trade/ZECZ16I'm not sure how reliable it is, but what will be interesting: 1) On one side there is some hype about it 2) The supply will be very limited and slowly increasing. If there shouldn't be technical-problems, no disaster, I expect the price to be high. |
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I don't think M2 is going to move the price, at least not like Draper's vote of confidence.
You don't think "the capstone of this year and many others" (Snow) is going to move the price? I don't think it will. If it does you can say I told you so until you're blue in the face. Sound fair?  I'll also say "I told you so!!!" because I'm sure your prediction is wrong. ;-) A better question is why would you want the price to spike? Are you guys traders? I don't trade much. But of course I would like to see a higher price, but not necessarily a hype with dumping right after. I space out my buys, I buy X amount with each paycheck so for me, a lower price is better. Now if you got in early at 10 cents and bought 10's of thosands of Fct, then for you its better if the price keeps going up and up. To each his own I guess. Yes, different situations/perspectives. I bought most of my Factoids one year ago through October and November. And for months I nearly was all-in because I really believe in this project. But: I want to distribute the normal risk a little bit - that's why I sell a little bit every time I consider the price as good and whenever there is a project I believe to see real potential. 1 year ago? Nice!!! Yes, I'm one of those lucky guys who found Factom right after launch while I wasn't aware when they did their ICO - but it was really important to do research. Those who did not didn't recognize how much potential this project has and how undervalued it was (and still is in my opinion). Factom didn't get much attention one year ago. Many days with just 5 BTC in volume or even below in the first three months after launch. |
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I don't think M2 is going to move the price, at least not like Draper's vote of confidence.
You don't think "the capstone of this year and many others" (Snow) is going to move the price? I don't think it will. If it does you can say I told you so until you're blue in the face. Sound fair? I'll also say "I told you so!!!" because I'm sure your prediction is wrong. ;-) A better question is why would you want the price to spike? Are you guys traders? I don't trade much. But of course I would like to see a higher price, but not necessarily a hype with dumping right after. I space out my buys, I buy X amount with each paycheck so for me, a lower price is better. Now if you got in early at 10 cents and bought 10's of thosands of Fct, then for you its better if the price keeps going up and up. To each his own I guess. Yes, different situations/perspectives. I bought most of my Factoids one year ago through October and November. And for months I nearly was all-in because I really believe in this project. But: I want to distribute the normal risk a little bit - that's why I sell a little bit every time I consider the price as good and whenever there is a project I believe to see real potential. |
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