Thoughts on Zcash?

[Netnox]

where do u see the price going after releaser the zec/btc price is at 0.2 on bitmex.

[topesis]

With all these excitement surround the Zcash project, I just hope it will not under perform, mining companies now have new money to suck out from people

[DRaGoN RaNTaRo]

zcash is real but the currency is not divisible beyond 8 decimal places. I have an alternative idea to create an infinitely divisible cryptocurrency that will guarantee anonymity,scale and speed. Contact me if you are interested to know more about it.

why don't you start a thread in Alt coin discussion and share your thoughts regarding your idea rather than inviting people over to contact you in private,you could get more thoughts and inputs from experienced developers regarding the project and it will be useful

[Spacemarko]

I am getting 7 sols with gtx 1070, and 8 with gtx 1080, am I doing something wrong?

[BTCwriter]

Zcash, just another superhype scam coin. Another instant millionaire coin for the creator(s).

[PoohFace]

A coin that died and came back from the dead.

[zamatoshi]

https://medium.com/@yobanjo/zcash-founders-might-make-60-million-in-first-year-2c9658b2dc5d#.wzw3wjhas

Zcash founders might make $60 million in first year.

If you really thought Zcash is all about some new cool coin you’re wrong. Tim Berners-Lee invented the World Wide Web and gave the technology away for free. No millions needed. Now fast forward to today…
In a few days Zcash will be the new hot thing in crypto. A close look at their website shows some interesting details:

Zcash’s monetary base will be the same as Bitcoin’s — 21 million Zcash currency units (ZEC, or ⓩ) will be mined over time. 10% of that reward will be distributed to the stakeholders in the Zcash Company — founders, investors, employees, and advisors. We call this the “Founders Reward”.

Notice how they talk about “10% of that reward”. The devil is in the details with this one. In the first 4 years the founders will take 20% of all coins mined. Yup that’s right, they’ll surf the hype and make most money in the beginning. So let’s see how this adds up:

At first, 50 ZEC will be created every ten minutes. 80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders.

So, that’s 2.628.000 coins in the first year alone…… And the founders will take 20% of that? That’s 525.600 ZEC even while they sleep and do nothing. If this coin becomes hyped (like the team already tries to do) we might see a $300 million marketcap in year 1 quite easily. That’s $114.15 per ZEC on your favorite crypto exchange. And guess what? The founders own 20% of that. And the bigger the hype, the more they will make. Think about that when you plan on buying your ZEC at a “nice price”. This thing becomes even more funny when you look at their investment:

With the plan above, a dream team of investors stepped up to fund the Zcash Company, because they believe in our mission, and in the value of this technology for all kinds of people and industries. We have closed a $1M funding round with these investors.

These devs are even more dumb than I expected. They got $1 million while giving away 20% mining rewards in the first 4 years which could easily be worth 60 times that number. And they call their investor “a dream team” for being ripped off like that. Don’t be fooled, this is the biggest scam since Ethereum. A bunch of greedy people talk about “decentralization” and “community” while filling their pockets with “dumb” crypto money.

Don’t believe the hype

can someone from team reply please? is this tru? Wy so much money?

[shadabahmed]

I am getting 7 sols with gtx 1070, and 8 with gtx 1080, am I doing something wrong?

i got this pool http://zcash.flypool.org/
how u get wallet address?
n which miner u r using?
is there any official thread for zcash @ BCT?

[25hashcoin]

https://medium.com/@yobanjo/zcash-founders-might-make-60-million-in-first-year-2c9658b2dc5d#.wzw3wjhas

Zcash founders might make $60 million in first year.

If you really thought Zcash is all about some new cool coin you’re wrong. Tim Berners-Lee invented the World Wide Web and gave the technology away for free. No millions needed. Now fast forward to today…
In a few days Zcash will be the new hot thing in crypto. A close look at their website shows some interesting details:

Zcash’s monetary base will be the same as Bitcoin’s — 21 million Zcash currency units (ZEC, or ⓩ) will be mined over time. 10% of that reward will be distributed to the stakeholders in the Zcash Company — founders, investors, employees, and advisors. We call this the “Founders Reward”.

Notice how they talk about “10% of that reward”. The devil is in the details with this one. In the first 4 years the founders will take 20% of all coins mined. Yup that’s right, they’ll surf the hype and make most money in the beginning. So let’s see how this adds up:

At first, 50 ZEC will be created every ten minutes. 80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders.

So, that’s 2.628.000 coins in the first year alone…… And the founders will take 20% of that? That’s 525.600 ZEC even while they sleep and do nothing. If this coin becomes hyped (like the team already tries to do) we might see a $300 million marketcap in year 1 quite easily. That’s $114.15 per ZEC on your favorite crypto exchange. And guess what? The founders own 20% of that. And the bigger the hype, the more they will make. Think about that when you plan on buying your ZEC at a “nice price”. This thing becomes even more funny when you look at their investment:

With the plan above, a dream team of investors stepped up to fund the Zcash Company, because they believe in our mission, and in the value of this technology for all kinds of people and industries. We have closed a $1M funding round with these investors.

These devs are even more dumb than I expected. They got $1 million while giving away 20% mining rewards in the first 4 years which could easily be worth 60 times that number. And they call their investor “a dream team” for being ripped off like that. Don’t be fooled, this is the biggest scam since Ethereum. A bunch of greedy people talk about “decentralization” and “community” while filling their pockets with “dumb” crypto money.

Don’t believe the hype

can someone from team reply please? is this tru? Wy so much money?

HAHAHAHA What a fuckin' blatant scam shitcoin.

[stereotype]

Im busting a gut to short the bejesus out of this on Bitmex, but know that the noobs wont be able to contain themselves, and will buy into the release. So do we wait for 6, 12, or 24hours? IDK.   

[s1gs3gv]

Im busting a gut to short the bejesus out of this on Bitmex, but know that the noobs wont be able to contain themselves, and will buy into the release. So do we wait for 6, 12, or 24hours? IDK.   

Well if the get rich quick club is taking 20% for 4 years, it might be a while before the dump.

[dmwardjr]

Im busting a gut to short the bejesus out of this on Bitmex, but know that the noobs wont be able to contain themselves, and will buy into the release. So do we wait for 6, 12, or 24hours? IDK.   

Well if the get rich quick club is taking 20% for 4 years, it might be a while before the dump.

And somebody gets it.

Thumbs up...

[MarbleBoss]

Anyone preparing to mine Zcash at www.Genesis-Mining.com or www.Zcash-Miner.com ? If yes, do u plan to hold or dump mined coins as soon as it is listed on some exchange ?

[bubilas]

Zcash release 28 October?

[c4s7or]

Anyone preparing to mine Zcash at www.Genesis-Mining.com or www.Zcash-Miner.com ? If yes, do u plan to hold or dump mined coins as soon as it is listed on some exchange ?

I do at genesis-mining. Its the first time I use Cloud-Mining so I dont really know what to expect.
If the price is as high at the beginning as a lot of people believe I will dump it very soon.

[Spacemarko]

Any serious exchange?

[N-rG]

Anyone compared the exchange fees on zcash? Which exchange is the cheapest?

[s1gs3gv]

The hype builds (IEEE Spectrum article)

http://spectrum.ieee.org/tech-talk/computing/networks/zcash-truly-anonymous-blockchainbased-cryptocurrency

[N-rG]

The hype builds (IEEE Spectrum article)

http://spectrum.ieee.org/tech-talk/computing/networks/zcash-truly-anonymous-blockchainbased-cryptocurrency

And nowhere any word about Monero. Even not In the comments below.

[loremipsum]

The hype builds (IEEE Spectrum article)

http://spectrum.ieee.org/tech-talk/computing/networks/zcash-truly-anonymous-blockchainbased-cryptocurrency

The article is balanced I think. It first outlines the new technology that Z cash brings and them also examines its drawbacks (or potential drawbacks) - as with every new technology.

One really important point in the article:
“The number of people who understand and have read the math and could develop an attack would be very small, maybe a dozen researchers worldwide. And so, you run the risk that maybe not enough people have looked at it to have the insight of what’s wrong with it,” says Back.