Thoughts on Zcash?

[CoinHoarder]

Welcome back TPTB... I am glad to see it was a temporary ban. You did not deserve that.  

I will try to read what you posted over. I only have so much time.. 40 hour work weeks plus school is tough. I wish you could make TL;DR versions of your posts. 

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[bubilas]

have the project sales zcash? where is I can buy it?

[TPTB_need_war]

have the project sales zcash? where is I can buy it?

https://forum.bitcoin.com/ama-ask-me-anything/i-m-zooko-wilcox-ceo-of-the-zcash-company-ask-me-anything-t5413.html

Hello Zooko,

I'm interested in reading your goals and motivations for taking on anonymity in general or anonymous digital cash specifically as your priority project?

Haven't you seen the new laws coming (eventually in all Five Eyes countries I've heard from reliable sources) that will ban end-to-end encryption?

To that end do you expect to support a viewkey or other way that users individually or a global backdoor, so that Zcash can be compliant with the lurch towards a 666 NWO which seems to be rapidly taking form now (and I assert will accelerate with the full global contagion sovereign debt collapse 2017 -2020)?

I am all for the ideology, but I am also pragmatic. We as society may have to fight with social networking and the political-economic revolution of a DIY economy, e.g. self-publishing, 3D printing, etc.. I have been looking at the concept of a decentralized social network. Any comments?

Sincerely,
TPTB_need_war
AnonyMint
Shelby Moore III

[TPTB_need_war]

Zooko (CEO of Zcash) is answering questions live now for the next 2 hours if anyone wants to participate:

https://forum.bitcoin.com/post16211.html

[omegaflare]

I use Shadowcash as my altcoin besides Bitcoin. It's more than sufficient to meet my needs in terms of anonymity and security.

[newb4now]

I use Shadowcash as my altcoin besides Bitcoin. It's more than sufficient to meet my needs in terms of anonymity and security.

PoS coins like SDC can never be as secure as PoW.

[tokyopotato]

I use Shadowcash as my altcoin besides Bitcoin. It's more than sufficient to meet my needs in terms of anonymity and security.

PoS coins like SDC can never be as secure as PoW.

I think hybrids can provide even more security though, especially when using multi-channel mining alongside a staking channel, although it hasn't been proven, it adds an extra layer of randomness and protection from sequentially mined blocks, obviously this has been done before but I think Nexus is the most well developed test-case https://github.com/Nexusoft/Nexus/wiki/Currency

Nexus has no anonymous features though.  Zcash looks really solid on this front, I hope to mine it

[TPTB_need_war]

Warned Zcash their plans for an 11% royalty on coin emission may run afoul of FinCEN guidance, and also suggesting they read this thread about the Howey test.

Surely team Zooko have considered this and have a plan to meet any fincen requirements. If not, the zcash is a dead man walking and someone will fork and release a clone without the 11% elephant baggage. Some smart tech people can be quite stupid ...

Appears they are really this clueless:

Zooko (CEO of Zcash) is answering questions live now for the next 2 hours if anyone wants to participate:

https://forum.bitcoin.com/post16211.html

See my (shelby3's) posts in the above thread for numerous gaps in Zooko's knowledge about crypto currency (their team really needs someone like me but they've screwed up the funding model so I won't be joining them, much better to fork their code which is something I will be able to do if my other plans are successful giving me adequate resources to hire the necessary zk-snarks experts and then I can also expand it to smart contracts while fixing Ethereum's insoluble flaw). There is no way they can meet FinCEN regulations for the miners, because the corporation is not the miners. The miners will need to comply, or not mine.

Readers I urge you to read my posts in that thread linked above wherein I correct numerous myopias of Zooko. It will be very educational. I have explained some scams going on for Bitcoin right now.

[TPTB_need_war]

Note the edit I added:

Edit: Cryptonote does have a per transaction view key. It is not clear to me yet if Zcash does. Cryptonote doesn't depend on a trusted setup (note this only impacts money supply and not anonymity in Zcash, whereas I argue that Cryptonote/RingCT has inferior anonymity due to meta-data correlation).

[TPTB_need_war]

I've replied with my further thoughts on Zcash's funding model:

https://forum.bitcoin.com/post16280.html#p16280

[dEBRUYNE]

Note the edit I added:

Edit: Cryptonote does have a per transaction view key. It is not clear to me yet if Zcash does. Cryptonote doesn't depend on a trusted setup (note this only impacts money supply and not anonymity in Zcash, whereas I argue that Cryptonote/RingCT has inferior anonymity due to meta-data correlation).

Elaborated here by smooth:

...
Whether Monero exists as a test bed for features that will be assimilated into bitcoin, or Monero will simply live as a parallel, opaque option to the transparent bitcoin chain, or perhaps just take over and leave bitcoin in the dust. All this will play out.
...

One of my favorite things about Monero is how it can exist as both opaque and transparent.  If I wish for an account to be transparent, I can simply expose my viewkey.

The view key is well known, but it can be a blunt instrument, since it reveals all payments for the entire lifetime of an account (including past and future). It is less known that you can disclose individual payments on a case by case basis, as needed:

In case Alice wants to prove she sent a transaction to Bob’s address she can either disclose r or use any kind of zero-knowledge protocol to prove she knows r (for example by signing the transaction with r)

The 0.9.1 release of Monero has an option to retrieve this "key".

[robelneo]

Found this zcash quite interesting they are stating true anonymity but we still have to wait for their new update comes Q3 means the third quarter of the year, i.e. July to September 2016,right Now I bookmarked this coin we'll see how good is this coin and if they can live up to their promise..

[wachtwoord]

How did they solve the seeding problem?

[TPTB_need_war]

I will try to read what you posted over. I only have so much time.. 40 hour work weeks plus school is tough. I wish you could make TL;DR versions of your posts.  

You added that after I had read the post.

I understand. I am also lacking free time because I need to do action. The TL;DR organization will come later if ever I get through the crazy balls-out implementation phase. And my first priority is not implementing what I wrote about in the decentralization thread. Rather my first priority is on a viable marketing strategy for crypto currency adoption. And this turns out to be invoke a lot of other work. Luckily though I love doing user interfacing code and social networking type of coding. I had coded an entire dating/social meeting site in 2 months Spring 2015.

If I go quiet, it means I am working, not quit.

[Djinou94]

It's a scam
A presale, iPo, ico, crowdfund would have been better than this curious form of instamine

[LiberOptions]

I think Zcash introduces a new technology that can even be a subsitute for the bitcoin protocol

[ArticMine]

I think Zcash introduces a new technology that can even be a subsitute for the bitcoin protocol

It requires a base coin in order to work. In this case the base coin is essentially a Bitcoin clone, so it is not a substitute for the Bitcoin protocol.

[TPTB_need_war]

I think Zcash introduces a new technology that can even be a subsitute for the bitcoin protocol

It requires a base coin in order to work. In this case the base coin is essentially a Bitcoin clone, so it is not a substitute for the Bitcoin protocol.

I think you mean distribution? After distribution all coins could be zerocoins.

[AngusCanine]

I think Zcash introduces a new technology that can even be a subsitute for the bitcoin protocol

It requires a base coin in order to work. In this case the base coin is essentially a Bitcoin clone, so it is not a substitute for the Bitcoin protocol.

I think you mean distribution? After distribution all coins could be zerocoins.

? So what is the currency going to be Zcash or zerocoin?

[frank22]

https://news.ycombinator.com/item?id=7766161

https://www.reddit.com/r/Monero/comments/41vg68/monero_vs_zcash_eli5_fundamental_differences/cz63pqw