[ZEC] ZCASH - All coins are created equal. Discussion Thread (Unofficial)

[synthgauge]

Buy normal coins, fucking noobs. DASH, XMR, MAID, BTS. Coins that have been around for years, perfectly vetted coins with communities that stood the test of time. All of them are undervalued right now. Yet u are discussing this corporate bitchy scam.

They are undervalued for a reason. There are just too many similar coins out there.

Similar??   Oh well, here we go.. U seem to know less than nothing about monero, maid, bitshares.... I will probably remove myself from this convo.

[1714543568]

1714543568

[1714543568]

1714543568

[1714543568]

1714543568

[1714543568]

1714543568

[1714543568]

1714543568

[synthgauge]

Companies are the investors? Im out.

It spells dump on the people for me.

[jambo110]

let the FUD commence  
It used to be nice in here.

[synthgauge]

https://www.reddit.com/r/ethtrader/comments/59t5x6/daily_discussion_28oct2016/d9b5ofj/

[zamatoshi]

Coindesk writes hype story about Zcash, shares same investor…

Just as I thought the Zcash founders had played all the tricks to pump their coin, I got notified on Twitter about yet another trick in their book. Before I jump in the details have a close look at this very optimistic Coindesk article:

Investors Are Going Wild for a Digital Currency Called Zcash (And It’s Not Even Out Yet)- “Deafening. ”That’s how market analyst Arthur Hayes describes the enthusiasm ahead of the upcoming launch of a new digital currency called Zcash — and he’s not alone.

I will spare you more of this happy-hype-talk as some notes under the article tell us all we need to know:

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Zcash

https://medium.com/@yobanjo/coindesk-writes-hype-story-about-zcash-shares-same-investor-ced5d264ef93#.e56iz8ljd

[jvper]

Companies make profits by selling things to ordinary people.

The same happens here. The problem is what we could possibly do with this "product" whatsoever! Sell it for a profit? Well, that's not the point here. The point here is the companies making money, not ordinary people making money. Plain and simple.

[CoinManiac1]

ZCASH IS LIVE 

[bvalis]

ZCASH IS LIVE 

Or not )

[wosch76]

that's insane
https://twitter.com/Crypto_God/status/791995205352361984
"ZCASH futures trading at Bitcoin parity."

[malcovixeffect]

lmao 1.15BTC buy and 2btc sellBTC

[Dogeshop_eu]

Any pool established?

[ayiphelmy]

suprnova down?

[bvalis]

suprnova down?

a bit slow but working

[Dogeshop_eu]

any miners?

[BTCBusinessConsult]

This coin will go down as one of the most overhyped coins of the year.

Just my opinion 

[sulfurtank]

Most of maggots mining and/or viewing this asset as a good investment opportunity are short-terms opportunists who will always have a plausible disavowal that they have been misinformed from the very beginning of this shit fest, resulting in a greater feeling of self-defense shortly after the first money loss.

Sometimes reality check is indeed imperative:

Zcash founders will make $858.916 per day without mining

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. Every four years, the rate of ZEC being created will halve (again, just like in Bitcoin). After the first four years the ZEC created per ten minutes will drop to 25ⓩ, but after the first four years, 100% of it goes to the miners.

This text is literally from the Zcash website but you won’t find it on their frontpage. There’s no official Bitcointalk-page from the founders as well as it’s common to share details about pre-mining and rewards for devs/founders. Why are the devs/founders so silent about their rewards? Why is there no conversation about it on their forum? I made a screenshot of their forum so check it to see if you spot a topic about the 20% founder-reward. Here’s a link to their forum to see for yourself.

But let’s look at the future price for ZEC again as there’s still no live trading. The price is 0.84 BTC at the moment. That’s $596,47 per ZEC. How does this play out for the founders? There will be 50 new coins every 10 minutes. That’s 300 per hour or 7200 per day. At the current price that’s $4.2 million in value every single day. The devs take 20% of that, without mining themselves.
The Zcash founders make $858.916,6 per day at the current price.

They have their total investment back in several days and from that moment they make an extreem amount of money after they did everything to hide these details from the rest of the planet. If prices stay at this level the ZEC marketcap will be reach $1,5 billion in 12 months. The founders own 20% of that which adds up to a number of $313,5 million. And that’s not even all as they get 20% of all mined coins in the first 4 years. That’s right, there’s a piece of code in the mining part of the software that forces all miners to “give” 20% of rewards to the founders. They don’t have to mine it themselves.

[ayiphelmy]

tesnet again on suprnova pool??

[knobson]

Zcash countdown https://w2.countingdownto.com/1574436

[szafa]

Bitmex only accept btc ,why i dont buy when zec cost 0.02 btc.

[glerand]

https://z.cash/blog/new-release-candidate-final-snark-parameters.html

New Release Candidate: Final zk-SNARK parameters
Daira Hopwood | Oct 27, 2016

The Zcash team has been working to finalize the software for the launch of the Zcash blockchain. We are planning to make the launch release available on the morning (PDT) of 28th October, subject to any last-minute technical hitches.

Over last weekend the final zk-SNARK parameters were created in the Parameter Generation Ceremony. The transcripts and software used for the ceremony have been published, and we'll be making another post with more information on that very soon.

We encourage everyone to test this latest 1.0.0-rc4 release by following the Beta Guide. That will also make sure that you are able to run the software on your system, and have the zk-SNARK parameters (a ~910 MB download) ready for launch.

TWO RELEASES

As part of a strategy to reduce technical risk and to ensure auditability, we have made two releases within a day of each other. Most users should skip from 1.0.0-rc2 directly to 1.0.0-rc4.

1.0.0-RC3 - BUG FIXES AND DEPENDENCY UPGRADES

The intermediate 1.0.0-rc3 release included only bug fixes, and updates of libraries that Zcash depends on:

The node metrics screen added in the rc2 release caused a bug when the output was not directed to a terminal, which has been corrected. (#1612)
The version of Berkeley DB has been updated to 6.2.23. (#1637)
The tinyformat library was updated in order to mitigate a potential buffer overflow vulnerability. (#1640, #1349)
A fix for a minor potential race condition was backported from Bitcoin. (#1634)
A couple of portability problems with the fetch-params.sh script and the Debian packages have been fixed. (#1053, #1537, #1613)
We have eliminated an error-prone case and a confusing error message when spending part of a coinbase output (e.g. mining reward). As a consequence it is now necessary to spend coinbase outputs exactly so that there is no change; the node will not implicitly select a change address. (#1616)
Updates to documentation and examples. (#826, #965, #1152, #1154, #1643)
Network bootstrapping for mainnet. (#1369)
1.0.0-RC4 - ZKSNARK PARAMS AND FOUNDERS' REWARD ADDRESSES

The 1.0.0-rc4 release, which is the one now deployed on the testnet, made some final updates in preparation for the Zcash launch:

The zk-SNARK parameters have been updated to the ones created by the ceremony performed last weekend.
The Founders' Reward addresses for mainnet have also been updated.
For a more complete list of changes, see our 1.0.0-rc3 and 1.0.0-rc4 release github milestones.

IMMINENT LAUNCH

In the remaining time before launch, we will only make further changes if they are necessary to correct critical problems that would be an obstacle to Zcash launching successfully. If all goes to plan, the only thing remaining is the mainnet genesis block — the code is done!