Thoughts on Zcash?

[AngusCanine]

The title is about thoughts on Zcash.. so I will give you another thought

"Approximately 131,250 Zcash coins were distributed among investors at a price of $15.24 per coin against the $2 million raised during the summer round of funding."

So the big investors who are behind Zcash bought 1 ZEC for ~$15 whereas it was traded for $xxxx in the first few days. In the end, it will be just that: ~$15

You have a source for that?

How can 131250 zcash be distributed when not even 20k is mined?

http://www.investopedia.com/news/what-zcash/

"Earlier this year, the Zcash Electric Coin Company raised a total of $2 million in exchange for equity in the company from seventeen investors: Aaron Grieshaber, Branson Bollinger, Maple Ventures (Amir Chetrit and Steven Nerayoff), Brian Cartmell, Vlad Zamfir, Roger Ver, Digital Currency Group, Barry Silbert, Charles Songhurst, Fenbushi, Shapeshift, Erik Voorhees, David Lee Kuo Chuen, Fred Ehrsam, Sebastian Serrano, and Li Xiaolai.

Investors now own 16.4% of the company. According to Zcash, the Founders' Reward is 10% of the total long-run monetary base of 21 million coins, while the remaining 90% of the Zcash monetary base goes to miners. Approximately 131,250 Zcash coins were distributed among investors at a price of $15.24 per coin against the $2 million raised during the summer round of funding."

Its also on the official website https://z.cash/blog/continued-funding-and-transparency.html

"Since the Founders' Reward is 2.1 million coins (10% of the total long-run monetary base of 21 million coins), and since the Founders' Reward will be split among the owners of the Zcash Company in proportion to their ownership, this means the new round of investors paid $2M for an eventual distribution of 131,250 Zcash coins. Therefore, they effectively paid $15.24 per coin."

Edit: The investopedia phrasing is not correct. They are not actually distributed.

i thought it was only 10% for the first four years

[zcashcoins]

Total amount of ZCash will be ?

like BTC, all amount of ZCash is 21mil

[Snorek]

To sum things up - unless you are stakeholder of Zcash you will be robbed of 20% of your mining profits forever.
It is funny how some people complained about advantage of early bitcoin adopters had - this is even worse IMO.
Plus, price of Zcash is dropping massively, just reached $200 - it is better to watch for now.

[AngusCanine]

To sum things up - unless you are stakeholder of Zcash you will be robbed of 20% of your mining profits forever.
It is funny how some people complained about advantage of early bitcoin adopters had - this is even worse IMO.
Plus, price of Zcash is dropping massively, just reached $200 - it is better to watch for now.

isnt it 10% for the first four years only

[dinofelis]

isnt it 10% for the first four years only

I think it is 20% the first four years, and then zero, which amounts to 10% of the total amount of coins that will ever be mined.
So the "investors" take in total about 2.1 million coins, which is 20% of the first 4 years, and as after 4 years about half of the total amount of coins will be mined (10 million something), in the end, when all coins are mined, those 2.1 million will correspond to 10% of the total.

After 4 years, there's no "miner's tax" any more, but during the first 4 years, it is 20%.

[Zadicar]

To sum things up - unless you are stakeholder of Zcash you will be robbed of 20% of your mining profits forever.
It is funny how some people complained about advantage of early bitcoin adopters had - this is even worse IMO.
Plus, price of Zcash is dropping massively, just reached $200 - it is better to watch for now.

As  far as  i  know  they  would  only get  20$ tax  for 4 years  and  after that   theres  no  tax  anymore  i dont  know  what  would be the  purpose  of this though  but   one  things  for sure this coins  would  dump badly , as  we can see on the current  price of zcash now, same as  you  mentioned  its already  $200- now. Its just a  pump and  dump altcoin for me.

[AngusCanine]

To sum things up - unless you are stakeholder of Zcash you will be robbed of 20% of your mining profits forever.
It is funny how some people complained about advantage of early bitcoin adopters had - this is even worse IMO.
Plus, price of Zcash is dropping massively, just reached $200 - it is better to watch for now.

As  far as  i  know  they  would  only get  20$ tax  for 4 years  and  after that   theres  no  tax  anymore  i dont  know  what  would be the  purpose  of this though  but   one  things  for sure this coins  would  dump badly , as  we can see on the current  price of zcash now, same as  you  mentioned  its already  $200- now. Its just a  pump and  dump altcoin for me.

i think i read yhey cant have their coins for the first year

[carlfebz2]

zcash would   definitely dump  its  price  for  how many  months, as  ive  read  on the   other  thread  its  really a ZCRASH I don't   have   trust  on this coins  and its  not  advisable   to  engage  into  it and  I feel  sorry  for those  who  invest  on  earlier   time  and  now  they would  really wait  to break even their losses.

[yefi]

i think i read yhey cant have their coins for the first year

The investors get paid first from the Founders' Reward. So 200,000 + 131,250 of the half million or so that will be mined in the first year go directly to them (at an average price of $8.75 or 0.012BTC).

Is it wise to be buying now? Fuck no, lol.

[Caladonian]

zcash would   definitely dump  its  price  for  how many  months, as  ive  read  on the   other  thread  its  really a ZCRASH I don't   have   trust  on this coins  and its  not  advisable   to  engage  into  it and  I feel  sorry  for those  who  invest  on  earlier   time  and  now  they would  really wait  to break even their losses.

Another huge downfall cant really say if how deep we are going to expect now but i would try placing mine at another .25 or less lets see if price will bounce back again and made some good profits.

[Kotone]

Zcash is really expensive i see it on the exchange website that this is like for rich only zcash price when i visited exchange website is 47bitcoin and i think the develor is having a good time playing around with people and now there is zcash classic lmao.

[thejaytiesto]

Is anyone buying at this price? I think it's too high, and it will keep going down, the question is when is it going to start going up? Maybe 0.1 is the magic number? Maybe 0.1 is too high and we are going to see prices as low as 0.015 like ETH? well, that would suck, given the small supply... I dont know what the fuck to do to be honest.

[yefi]

Is anyone buying at this price?

The only people buying to hold at these inflated prices are the derisible and delusional souls who think themselves the new crypto leet.

[RocketPie]

Zcash did it much better then i expected, i have fun mining it whit my big rig and in the cloud.

Which cloud miner did u buy your hash power from? I used all the 3...

a. www.Genesis-Mining.com

b. www.Zcash-Miner.com

c. www.ZeroPond.com

I'd have on good profit by now unless ZeroPond.com so drastically failed to deliver. They had the highest cost and delivered the worst of the lot.

A  www.Genesis-Mining.com, and i have a view rigs running as well.

RocketPie, can you make a comparison video? or review on this site? Love to see that!

ZeroPond is an absolute waste. They are now making thousands of excuses for their bad performance. Both Genesis-Mining & Zcash-Miner are good. The only difference is Zcash-Miner contracts last for 3 months as against Genesis-Mining's 1 year contract. Hence Zcash-Miner contracts cost 1/4^th that of Genesis-Mining. Both are offering free mining in Slow-Start mining period.

[classicsucks]

Given the "sound money" doctrine that bitcoin adheres to (finite supply), this makes this manipulation much easier for TPTB.  Their central banks can buy as much bitcoin as they want (with their own printed fiat), driving the prices to heaven and making people give up a lot of goods and services to obtain the few bitcoin that are not in the vaults of central banks ; when people have spend a lot of goods and services on it, central banks can dump bitcoin on them, buying all those precious goods and services for whoever is with the central banks (like states and big financial institutes), getting back the fiat that they printed.  To start a new cycle.
If you master the fiat emission, you can manipulate the course of every other collectible.  That's what is done with gold and (to a lesser extend) silver, and that's what will happen to bitcoin and other crypto too, if it starts getting worth while.

There's no need to intervene in the protocol or using back doors.  Fiat can manipulate crypto as much as they want, and the funny thing is that bitcoin enthusiasts will be dancing of joy if central banks start "accepting" bitcoin, not realizing that this is exactly how it will get manipulated.

This doesn't make sense - gold and silver markets are manipulated DOWNWARD, not upward. I believe this is done via "naked shorting" - currently the infrastructure to naked short bitcoin does not exist. If the Fed prints money to buy up gold or bitcoin, they make it more valuable, and thus more likely to be held. The only thing that would make sense to kill bitcoin would be to "corner the market", which will be difficult for even the Fed, given that bitcoin has an $11 billion market cap right now. Remember also that as the USD price of bitcoin goes up, forex arbitrage opportunities present themselves...

[classicsucks]

To sum things up - unless you are stakeholder of Zcash you will be robbed of 20% of your mining profits forever.
It is funny how some people complained about advantage of early bitcoin adopters had - this is even worse IMO.
Plus, price of Zcash is dropping massively, just reached $200 - it is better to watch for now.

isnt it 10% for the first four years only

boi - 4 years is like a millenium in this scene!

[Zeta0S]

Oh well. 3 or 4 days mining and I'm out. Sold my coin.
Actually disappointed. The worst altcoin I ever mined!
That's saying something...

That`s not totally far to Zcash, the price decreasing is totally expected everybody mining did know this..except you?

I was disappointed because I realised it was just another Altcoin
...
Still, nothing to stop me buying it.

Of course it is a Altcoin. Sorry you are disappointed.
Confusing you still buying and are disappointed, but you will not stop buying.

So weird...

[Snorek]

It is funny how Zcash developers tried to find a way and invent a system to stop early adopters from gaining an edge.
But instead they probably made everyone else who is not investor, scared and disappointed effectively preventing people from buying/mining Zcash.

[GrossBit]

i've warned you,

ZCash is not designed to be a coin, its designed to suck off money from noobies and ignorant people into dev / miners....

The trend is clear, even if it will take a LONG time. we are heading below 0.005 BTC folks. Too much inflation.
Many said it didn't matter. Of course many of those saying this were the miners... Disregarding inflation is like disregarding the beautiful mathematics behind cryptographic schemes.

The situation will stay dire for years because so many coins are mined. There will be no usage for ZCash when it cannot be a store of value. Even if the price crashed immediately, people would not touch it because of the incoming supply. It took years for BTC to become mature and stabilize a bit its volatility, it would be the same for ZCash. However in the meantime, confidence will have been lost and the market will already have focused on coins with better technology and supply/demand situation.

XMR is showing renewed signs of life. No tsunami of supply, an implied valuation much cheaper than ZCash, and soon a lot of new features. I can easily see it going back to ATH and more...
Those who keep bidding or holding ZEC will deserve their fate... they will be ZECKT.

[jubalix]

zcash is likely going to disappear without a trace, it this era's feather coin and CNC