price already high at 0.41 BTC. i won't buy no longer. looks like founders take all money:
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Zcash hype getting ridiculousZcash futures are live on BitMEX. Prices have been pumped to 0.34 BTC. That’s $234,09 per ZEC. The founders can’t stop laughing due to the following reason:
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.Feel free to check their website to see if you can find the funding page as linked above. You probably can’t as it’s “hidden” to not inform the public. But let’s make some new calculations with the current price. $234,09 per ZEC is quite some money isn’t it?
At first, 50 ZEC will be created every ten minutes.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. At current prices based on futures trading the marketcap for Zcash (ZEC) will be $615.188.520. That’s a $615 million marketcap! Now let’s see how this “dream team” of founders/investors is doing with that.
20% of 615.188.520 = 123.037.704
That’s $123 million owned by the founders after only 12 months!This isn’t all as the founders will take 20% of all mined coins in the first 4 years. This adds up to a number of 2.1 million coins from the 21 million monetary base. But even while the 21 million coins won’t be mined in the next 10 years (just like Bitcoin) the founders already took their share. They even take more than they make you think:
The end result (as shown in the diagram) is that there will ultimately be 21 million ⓩ, and 10% of it, or 2.1 million ⓩ, will have been initially distributed to the founders.Please look at the way they frame the 10% of 21 million coins using words like “ultimately” and “have been initially distributed”. A look at their graph shows the real numbers.
http://i65.tinypic.com/10wk48l.pngIn 4 years the Zcash founders will own 20% of all coins. NOT THE SO CALLED 10%. It’s only somewhere in the 2030’s that this number gets diluted back to 10%. So now you understand that there’s no link on their frontpage to their funding-details isn’t it? And even when you find the link they try to fool you around with sentences like:
The end result (as shown in the diagram) is that there will ultimately be 21 million ⓩ, and 10% of it, or 2.1 million ⓩ, will have been initially distributed to the founders.This project is optimized for hype and created to fill the pockets of a few individuals. The marketing language speaks for itself. Below is the link to their funding-page so you can check all the details I presented.
https://z.cash/blog/funding.htmlFeel free to spread this article as much as you want.
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And price even higher already.
https://medium.com/@yobanjo/zcash-hype-getting-ridiculous-2d218a02357#.c7fkhvlku
