It's 2.1 million coins spread over 4 years. 10% of total eventual supply of 21 million coins. This goes to initial private investors and to dev which are currently funding development.
As for the fork, we are working on a fix. We think we found the problem but are testing it right now. Stay tuned. Github has a push already but we're making sure it works.
Fork rule is not sane. 4 values missing after 14k. Blocks will be rejected because of: if (!(found_1 && found_2 && found_3 && found_4 && found_5)) Basic stuff.. More attempt at FUD. Those are in relation to the founder's wallet addresses which have been changed due to the new investor and removing Gary. You already totally miscalculated the founder's reward before to say 2 million coins in 1 year which is actually 2.1 million coins in 4 years. Basic stuff. |
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For the fast wallet, we're still working on it. Maybe working on a compromise to allow the wallet to load first and allow regular transactions while waiting for all the Zerocoins to verify. This will allow people to use the wallet as per usual but will wait longer before Zerocoin transactions are enabled.
Android wallet will be looked at once the core has been updated which is already in progress.
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30 December 2016Due to the short time given for the update for the fork, many nodes and clients have not updated to the new version resulting in the network being stuck at block 13999. This new update forces the old wallet clients off the network so that only the newer clients are recognized to avoid any conflicts. Please update to the latest version v0.1.6 here: https://github.com/zcoinofficial/zcoin/releases
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It's 2.1 million coins spread over 4 years. 10% of total eventual supply of 21 million coins. This goes to initial private investors and to dev which are currently funding development.
As for the fork, we are working on a fix. We think we found the problem but are testing it right now. Stay tuned. Github has a push already but we're making sure it works.
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ELI5: Fast verification of the proof of work. This means clients don't have to spend a lot of resources to verify the validity of the proof. ASIC resistant. Difference between GPU and CPU mining shouldn't be too great. Same creators as Equihash. Created to address some shortcomings of Equihash. Zcoin will be the first cryptocurrency to implement it. Update on Development:
MTP development is now at approximately 65% completion.
Setup envs are being prepared for update of Bitcoin core base to 0.13.
Wallet startup time is being looked at and prioritized.
65%? that's a precise estimation, lol  I can't believe a team of 2 dev can split up, must something fundamental? really weird to me. For your info, Gary did not contribute to the coding at all so it's not really '2 devs'. More like 1 dev Poramin, and one guy who takes care of everything else. Now there's a team of people to help with everything else along with recruiting more devs  |
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Update on Development:
MTP development is now at approximately 65% completion.
Setup envs are being prepared for update of Bitcoin core base to 0.13.
Wallet startup time is being looked at and prioritized.
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Good news!
Bittrex has now updated to Poramin's version of the wallet and also the two main mining pools Suprnova and Pool.mn have rallied behind Poramin's version.
As for the slow startup issues, we are aware of them and are working to improve the wallet startup times.
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Actually the split between Poramin and Gary hasn't affected price much at all. In fact looks like price is stable. The price crash happened way before this fiasco and is typical of a launch of any new coin.
Practically, the only version of XZC that matters right now is Poramin's as all the pools and major exchanges are rallying behind Poramin's as well as the community.
Gary's version doesn't have any updated binaries nor any pools or exchanges openly supporting him, nor does he seem active in his own Slack community.
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I've spoken to Bill from Bittrex and he will make an announcement once the wallet is updated on his end which should be quite soon.
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I don't really care whose version, it's better you guys get united. If you can not handle a team, how the heck you can handle the development of the coin in the future. It's good to have some investors, but who know who are these investors, anyone can be "investors". As a long term miner, I just hope the coin be stable and back on the track defined initially.
This is true. But the way I see it is a painful but necessary step. The old Zcoin was far from being a team with Gary handling the management and marketing of the coin and Poramin focusing on development which was less than ideal especially since Gary wasn't always present. With the new team which will be announced in the coming weeks, we have clear roles and segregation of duties and a unified goal to make Zcoin a success. Development still is continuing and at a faster pace with additional help being given. It is no longer a two man show. |
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What I can say is that Tim Lee is a very successful Chinese businessman and is savvy with cryptocurrencies.
He brings with him not just new investment money to fund development but also a marketing team and valuable contacts. He's an active investor willing to put in the time and resources to improve Zcoin and not passively sitting on the sidelines. The investment he has brought in is more than sufficient to fund Zcoin's development for more than a year and allows Poramin to hire additional help as well. On top of the investment, he has been meeting important people in the industry and also has assembled a team to help promote Zcoin.
In this way both the development and marketing side is covered and provides a good momentum for Zcoin to move to the next level. Unlike what I experienced previously, I can say that since Tim has stepped in, we have daily discussions on how to improve Zcoin and we're very much better coordinated than before. I'm confident we will see positive results in the coming months.
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I wonder which zcoin is depending on Poramin's , Dev? and bittrex version is using poramin's version?
Please let me know to download xzc wallet. thanks
Use this version. https://github.com/zcoinofficial/zcoin/releasesBittrex version we will see once they have made a decision but we are positive. |
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This is a message from our new investor Tim Lee: Dear Community Members,
I'm Tim Lee, the new investor for the Zcoin project and from China. I feel honored having the chance to join Roger Ver and the other existing investors and will contribute my best to inject fresh vigor into this undertaking.
As everybody may be aware of, our community just passed through a rather turbulent and painful time. During this period, I went on a special trip to Thailand to meet up with our lead developer and co-founder, Poramin Insom.
Despite these external factors, I've spent a very productive week with Poramin, discussing long-term prospects and near-term objectives, as well as some exciting matters that will be disclosed at a later point.
The Zcoin project actually already has two-years of development behind it, and we believe that in terms of innovation and functionality it can easily be compared or even surpass other anoncoins, such as Monero, Dash and Zcash.
I also believe that considering the project's potential and benefits, the present price is still heavily underrated. As an investor, I share the same goal with you, hoping that Zcoin can achieve its full potential and I will do my best to support it in all aspects.
Finally, I also want to formally introduce Sebastian (@Sebsebzen), who will act as my investor relations representative. He will be responsible for communications with other investors, help coordinating promotion activities as well as assisting with other matters within his capabilities.
I hope that everyone will unite behind Zcoin and let us all work together to make this project a great success.
Best wishes and a Happy New Year! 社区的各位成员，大家好。
我是Tim，zcoin项目的新投资者，来自中国。很荣幸，能够跟roger ver先生等其他两位著名投资人一起，为这个项目注入活力。
如大家所知，我们的社区，刚刚经历了一场动荡和阵痛。而我在此期间，特意飞往泰国，跟我们天才开发者，项目创始人poramin先生，共同度过了难忘的一周，此行还有来自德国的Sebas先生，和我的伙伴。
尽管外部风波不断，我和poramin先生，却度过了此生难忘的一段美好时光。我们谈了项目的远景，各种规划，一系列目标，和一些不方便公开透露的美好事项。真的是激动人心。
作为一个已经低调开发了两年多的项目，我们一致认为: 截至目前，zcoin所取得的原创性开发成果，是完全可以跟xmr，dash，还有zcash等侧重匿名性开发的项目，相互媲美的。zcoin目前的价格、项目的优势与潜力，确实严重被低估了。
作为一名投资者，我和你们一样，都希望这个项目能够获得最大的成功，我将尽我所能，各方面帮助zcoin。
最后，本人在此，正式委托Sebas先生，作为我的投资代表，他将留在社区进行与其他投资人的沟通，运营推广指导，提供力所能及的服务与帮助。
希望大家能够团结起来，共同为这个项目的成功，尽自己的一些努力。
祝福zcoin，祝福大家 |
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I will support Poramin's version. Please give me the link Poramin's official wallet for downloading now.
Thank you.
Still using the same Github here: https://github.com/zcoinofficial/zcoin/releasesThanks for the support! This means that we need to change the miner application again ?
Nope, the miner applications should be unaffected. Only pool software needs to be updated. a little confused over poramin's coin n gary's coin. Hopefully after this mess, zcoin will have a good future.
We will make an announcement on this once the fork has taken place. One of the reasons why we have been silent is that there's a lot of things going on behind the scenes that we need to wrap up before making any conclusive statements. I know this is frustrating as it seems that we are keeping everyone in the dark but it will become clear later why this is necessary. However, in short Poramin will continue development of Zcoin regardless, as a new investor has been brought in to fund Poramin's development while all existing investors are retained and are agreeable to the new founder's reward distribution in Poramin's version. Gary will no longer be a part of the project but it appears he may continue his own Zcoin fork while pulling code from Poramin's Github. He is however in control of the Twitter and Reddit accounts. |
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No. That is Gary Le version. Rule of thumb: zcoinofficial = Poramin version zcoinproject = Gary Le version There are two versions now?? I thought they are from the same team? Is it mean the dead for Zcoin? what happened to MTP or some new protocol/algorithm? Poramin from the funding of the new investor has enough funding to continue Zcoin development and hire additional help. MTP development is still ongoing but development is currently focused on reducing the wallet load times. Technically speaking, if you keep your wallet.dat, all your coins before block height 14000 will be recognised in both Gary and Poramins version but practically, the one that retain its value is the one the community supports. Feel free to join us on Slack!  http://invite.zcoin.finance:3000 |
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Can somebody explain why the founder address was swapped by a new one? Is poramin getting double the reward now?
New investor. Existing investors are aware of it. Poramins share remains the same. |
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Thanks appreciate the support merry Xmas! |
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Please update to the latest version here: https://github.com/zcoinofficial/zcoin/releases/tag/0.1.5Basically the identity of the 2nd initial investor has been confirmed but has chosen to remain anonymous. Although Poramin has never directly received the funding from him, we believe that it is fair and the investor will be an asset to the project as it grows. We thank the investor for his understanding. So all initial investors and the new investor are inside this version (not including Gary) and we believe we can move forward with this project to realise its full potential. Note that despite Poramin receiving relatively very little funding thus far we have achieved fully working Zerocoin functionality (which in itself has already been modified quite substantially for performance) and MTP development is still on track. Once the dust and the politics settles down we believe this project can continue with renewed vigor. Our team is already being built and fleshed out as I write this announcement. If anyone has good dev skills, we're looking for more devs to join us. We're good on the web dev end already. With the influx of new funds and the new team we now have a strong funding base and a strong team to move the project forward. |
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Bittrex is allowing wallet withdrawals now if anyone of you wants to get your coins off the exchange.
Thanks to Wolf0 for making this possible.
@ERossin:
It depends how u define who the 'owner' is. Is the person who wrote all the code and co-founder of the coin the owner? Or the person who entered into all the agreements with investors and received all the initial funding for the coin, the owner?
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It's me Reuben and I'm speaking on Poramins behalf I have been controlling this thread since I took the community manager position. To go into the details of the split would involve a lot of public mud flinging so after speaking to Gary, we agreed not to do that. The respective slacks are always there for people to read and make their own conclusions and a lot of info is out there already for people who really want to know. |
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