[ANN] Firo (FIRO) - Implementing ZKP privacy without trusted setup

[slugmandrew]

It's a ridiculous price atm considering the tech the coin uses and the roadmap planned! But ZCash gets all the hype! I'm holding my xzc for a long time as I think this one has a good future.

Market cap of $500k is insanely low for a zcash and monero competitor!

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[St.Stephan]

Would like to see a statement from Gary here - if he is not to busy kitting out his Lambo -  on exactly what the 20% founder's reward is actually being used for.

So far his answers are total bullshit - "that will remain anonymous, protect investors, etc."

Meanwhile, coin price has tanked, and every piece of evidence suggests:

1) Original "investors" ( maybe just gary?) are just dumping and pocketing the 20% and laughing all the way to the bank.

2) No marketing funds exist. No marketing plan exists.

3) Roger Ver (who everybody keeps pointing to as the Cheeto Jesus behind this coin) is either not involved at all, or was periphially involved at the start. Either way, that he currently would be involved in the fucking clown show that this coin has become strains credulity.

Now Gary, if you can spare some time from the lambo shopping, and if you can reach your pc  from the Jacuzzi, maybe you can answer these points honestly and directly. If you are going to trot out more of your "anon / i can't say" bullshit, don't fucking bother. Your credibility - like zcoin price - is approaching zero. How fitting.

[BitPotus]

Would like to see a statement from Gary here - if he is not to busy kitting out his Lambo -  on exactly what the 20% founder's reward is actually being used for.

So far his answers are total bullshit - "that will remain anonymous, protect investors, etc."

Meanwhile, coin price has tanked, and every piece of evidence suggests:

1) Original "investors" ( maybe just gary?) are just dumping and pocketing the 20% and laughing all the way to the bank.

2) No marketing funds exist. No marketing plan exists.

3) Roger Ver (who everybody keeps pointing to as the Cheeto Jesus behind this coin) is either not involved at all, or was periphially involved at the start. Either way, that he currently would be involved in the fucking clown show that this coin has become strains credulity.

Now Gary, if you can spare some time from the lambo shopping, and if you can reach your pc  from the Jacuzzi, maybe you can answer these points honestly and directly. If you are going to trot out more of your "anon / i can't say" bullshit, don't fucking bother. Your credibility - like zcoin price - is approaching zero. How fitting.

gary is one dodgy mofo.....

[traspy]

Would like to see a statement from Gary here - if he is not to busy kitting out his Lambo -  on exactly what the 20% founder's reward is actually being used for.

So far his answers are total bullshit - "that will remain anonymous, protect investors, etc."

Meanwhile, coin price has tanked, and every piece of evidence suggests:

1) Original "investors" ( maybe just gary?) are just dumping and pocketing the 20% and laughing all the way to the bank.

2) No marketing funds exist. No marketing plan exists.

3) Roger Ver (who everybody keeps pointing to as the Cheeto Jesus behind this coin) is either not involved at all, or was periphially involved at the start. Either way, that he currently would be involved in the fucking clown show that this coin has become strains credulity.

Now Gary, if you can spare some time from the lambo shopping, and if you can reach your pc  from the Jacuzzi, maybe you can answer these points honestly and directly. If you are going to trot out more of your "anon / i can't say" bullshit, don't fucking bother. Your credibility - like zcoin price - is approaching zero. How fitting.

Agree.
There was a guy on slack talking about same stuff like you, and zcoin community banned him.

[solid12345]

There was a guy on slack talking about same stuff like you, and zcoin community banned him.

He was banned because he came in every day spouting the same FUD talking points and if you challenged him on it, he'd refuse to back up or defend his statements with proof.

There is a difference between a debate and a rant.

[kbhutto]

No one is forcing no one to mine this or any other coin.

[kryptopojken]

Great job on the update guys, I'm buying some more here

[traumschiff]

There was a guy on slack talking about same stuff like you, and zcoin community banned him.

He was banned because he came in every day spouting the same FUD talking points and if you challenged him on it, he'd refuse to back up or defend his statements with proof.

There is a difference between a debate and a rant.

I was also asking for a ban on him after he made up stories how he talked to Polo admins and that the Polo admins called Zcoin shady and that they won't add it ever. After asking him for proof to back up such claims on a public slack channel he went afk.

I would ban people like him after the first second of entering crypto channels if I would be a slack owner/admin. People like him have no reputation to defend and troll all day.

[traspy]

BTW, very undervaluated coin. At this stage price should be 0.005 as floor, considering zero know tech behind, not 0.0025
There are fake zero know coins out that got x10 price without working zero know tech.

Zcoin is here and is working

[Zer0Sum]

Would like to see a statement from Gary here - if he is not to busy kitting out his Lambo -  on exactly what the 20% founder's reward is actually being used for.

So far his answers are total bullshit - "that will remain anonymous, protect investors, etc."

Meanwhile, coin price has tanked, and every piece of evidence suggests:

1) Original "investors" ( maybe just gary?) are just dumping and pocketing the 20% and laughing all the way to the bank.

2) No marketing funds exist. No marketing plan exists.

3) Roger Ver (who everybody keeps pointing to as the Cheeto Jesus behind this coin) is either not involved at all, or was periphially involved at the start. Either way, that he currently would be involved in the fucking clown show that this coin has become strains credulity.

Now Gary, if you can spare some time from the lambo shopping, and if you can reach your pc  from the Jacuzzi, maybe you can answer these points honestly and directly. If you are going to trot out more of your "anon / i can't say" bullshit, don't fucking bother. Your credibility - like zcoin price - is approaching zero. How fitting.

I have no problem Devs getting 20% as long as it's clearly stated (and has been)...
And I have absolutely no problem with it going straight into their pockets...
Right now we are talking about $100,000 split many ways...
Hardly Lambo/Jacuzzi money... probably closer to market rate for skilled Devs.

The real money is listing on Polo and moving this baby +1000%...
And a lot of that comes down to building a strong, vocal community here and Reddit.

If it's just another PnD, well gee wiz by golly... someone will fork it and do better.

[traspy]

If zcoin reach poloniex: +1500%

[adhitthana]

It's a ridiculous price atm considering the tech the coin uses and the roadmap planned! But ZCash gets all the hype! I'm holding my xzc for a long time as I think this one has a good future.

Market cap of $500k is insanely low for a zcash and monero competitor!

Looking just at the market cap could be deceptive.

Zcoin has released a very small amount of the total coins. Look at what the market cap will be once all coins are released. This will give you another perspective. A better perspective IMHO.

The market cap of all coins is around $50M USD

[Das]

I wonder if Zcoin will skyrocket like Zcash... since both are anonymous coins (and they kind of sound alike).

[samspaces]

lest chance to buy now at bottom price.

The only real 'bottom price' for any altcoin is 1 satoshi.
Unless one fancies trading it against LTC, in which case it is 1 litoshi.

[Vin]

If zcoin reach poloniex: +1500%

Yes, maybe for some hours 

[NotMyFarm]

how is yours ?
tested and working ?
as "they" are having some 'problems' here 
https://www.cryptocoinsnews.com/zcash-bug-prevents-private-transactions-soon-after-launch/

[bolehvpn]

I'm writing this in my personal capacity not as community manager and my experience as a lawyer and this is to answer the accusation that founders are just swimming in their founder's reward. This is not based on any inside info but my own deductions. For marketing, although i'm not privy to how they spend it, you can see the ads that are popping up on Zcoin so there's some marketing ad spend going on there.

But let's get into the nitty gritty which I think a lot of people are not thinking clearly about.

First of all, Roger Ver's investment is real. It has been disclosed EXPLICITLY in bitcoin.com publications (which Roger owns), confirmed by other independent members approaching him directly, regularly posts on his MemoryDealers account in Reddit in Zcoin and created a sub-forum for it in Bitcoin forums. He still remains invested.
https://news.bitcoin.com/zero-knowledge-zcoin-launching-soon/ (see the disclaimer)
https://www.reddit.com/r/ZCoinProject/

First of all there were definitely certain agreements in place when obtaining investor funding for Zcoin (or as it was then named Moneta). This is what made the project possible in the first place.

It is common for these investors to choose to remain anonymous. Only Roger has stepped forward to confirm he is an investor but I don't think you can blame the founders for not disclosing the others especially since the investors are the one who funded Zcoin and their wishes should be respected. Note that backing a privacy coin can be controversial and not everyone may want to come forward. With Zcash, which is a much more high profile investment with serious marketing dollar, there's bound to be more investors who are willing to be public.

Now to the next point, I think it's naive to think that these investors didn't have certain stakes in the growth and reward of the coin. They need a return on their investment. With no premine, there's the founder's reward. The most logical thing is to assume that some investors are entitled to certain payouts. The whole project started when it was Moneta in 2015 and much time has passed and only about one month back was it launched. Now that a milestone has been achieved (coin launch and listing), some investors may want to recoup part of their investment back while others decide to hold. Where would this payout come from? It may be, to be paid in XZC or it may be 'interest' on their investment or a share of the founder's reward. If you watch Shark Tank, you'll know what I'm talking about. This also makes sense on a contractual standpoint.

Gary and Poramin both mentioned NDAs which are also common and they may not be able to disclose the identity, the size of the investment and their entitlements from their investment. Now they are asked to explain the wallets being drained, but bound by the NDA, now you can imagine the situation they are in. In frustration, Gary said well when Zcash is transparent about their expenditure, they will be too which was received negatively but the fact is a much larger project like Zcash that's involving a lot more money is not subject to scrutiny because big names are involved while with Zcoin, the only known big name is Roger. Again, Zcoin's funding is i think many many many many times smaller than Zcash's and yet I think it is impressive they managed to get out a WORKING implementation of Zerocoin and minting.

Bounties are also being paid for website design, coding work, community management, recruitment activities, marketing and also with important partners to increase adoption.

If you follow their slack you know that Poramin is full time working hard to implement MTP and improve Zcoin and I'm in almost daily contact with Gary and Poramin.

[adhitthana]

I'm writing this in my personal capacity not as community manager and my experience as a lawyer and this is to answer the accusation that founders are just swimming in their founder's reward.

At current prices 20% of the mining for the next 4(?) years, looks roughly in line with other projects and ICO's.

[NotMyFarm]

I'm writing this in my personal capacity not as community manager and my experience as a lawyer and this is to answer the accusation that founders are just swimming in their founder's reward. This is not based on any inside info but my own deductions. For marketing, although i'm not privy to how they spend it, you can see the ads that are popping up on Zcoin so there's some marketing ad spend going on there.

But let's get into the nitty gritty which I think a lot of people are not thinking clearly about.

First of all, Roger Ver's investment is real. It has been disclosed EXPLICITLY in bitcoin.com publications (which Roger owns), confirmed by other independent members approaching him directly, regularly posts on his MemoryDealers account in Reddit in Zcoin and created a sub-forum for it in Bitcoin forums. He still remains invested.
https://news.bitcoin.com/zero-knowledge-zcoin-launching-soon/ (see the disclaimer)
https://www.reddit.com/r/ZCoinProject/

First of all there were definitely certain agreements in place when obtaining investor funding for Zcoin (or as it was then named Moneta). This is what made the project possible in the first place.

It is common for these investors to choose to remain anonymous. Only Roger has stepped forward to confirm he is an investor but I don't think you can blame the founders for not disclosing the others especially since the investors are the one who funded Zcoin and their wishes should be respected. Note that backing a privacy coin can be controversial and not everyone may want to come forward. With Zcash, which is a much more high profile investment with serious marketing dollar, there's bound to be more investors who are willing to be public.

Now to the next point, I think it's naive to think that these investors didn't have certain stakes in the growth and reward of the coin. They need a return on their investment. With no premine, there's the founder's reward. The most logical thing is to assume that some investors are entitled to certain payouts. The whole project started when it was Moneta in 2015 and much time has passed and only about one month back was it launched. Now that a milestone has been achieved (coin launch and listing), some investors may want to recoup part of their investment back while others decide to hold. Where would this payout come from? It may be, to be paid in XZC or it may be 'interest' on their investment or a share of the founder's reward. If you watch Shark Tank, you'll know what I'm talking about. This also makes sense on a contractual standpoint.

Gary and Poramin both mentioned NDAs which are also common and they may not be able to disclose the identity, the size of the investment and their entitlements from their investment. Now they are asked to explain the wallets being drained, but bound by the NDA, now you can imagine the situation they are in. In frustration, Gary said well when Zcash is transparent about their expenditure, they will be too which was received negatively but the fact is a much larger project like Zcash that's involving a lot more money is not subject to scrutiny because big names are involved while with Zcoin, the only known big name is Roger. Again, Zcoin's funding is i think many many many many times smaller than Zcash's and yet I think it is impressive they managed to get out a WORKING implementation of Zerocoin and minting.

Bounties are also being paid for website design, coding work, community management, recruitment activities, marketing and also with important partners to increase adoption.

If you follow their slack you know that Poramin is full time working hard to implement MTP and improve Zcoin and I'm in almost daily contact with Gary and Poramin.

roger ver invested in a bunch of other coins too, that does NOT make this project any more (or less) legit !
do not overthink that big name mentioned here

anon dev's have a terrible reputation in the Crypto scene after the last couple of years and u can not blame the community for giving u sh..t about it.
Any dev who is there to stay and proud of his project would do it under his real name, everything else is BS

the whole 'you can trust us' but we can not talk about it due to NDA's is pretty lame

"impressive' they got it out on a small budget ?
come on - fork and launch, how much can that cost ?
these days everybody thinks (or sais he thinks and needs) x thousand of BTC in an ICO to launch as suddenly it is sooooo expensive to run the network = BS
specially here , where it is a fork of another project
man man .... the crypto scene these days eh ....

[doktor83]

Could someone please explain me how block reward is working with ZCoin ?
Or this depends of the pool im mining on ?
I found a block on pool.mn a few days ago, but i did not get any reward (40 coins), so im a little mad and confused here, maybe if someone could explain me how this thing works?
Thanks