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

[zcoinofficial]

MTP won't fundamentally change Zcoin's market price. On Bittrex there's currently an excess of sell orders over buy orders of Zcoin of $5 million USD, unless I'm reading it wrong, in which case tell me. Maybe that's partly because miners leave it on the market and don't focus on it and just leave it sitting there, whereas buyers are in and out quickly. Still, that's gotta worry other people besides me.

The sooner we get zcoin incentivised nodes going the better. 500 or 1000 coin stake required. maybe 500 to avoid making smaller investors feel bad. When can you do this Zcoin team?

Well if I had to hazard a guess, the upcoming MTP release has already changed Zcoin's market price. We have doubled since a short while ago? But who knows, it's crypto land where ICOs with only a smattering of untested code can raise millions of dollars in a couple of hours.

As for Znodes, our incentivized nodes scheme, this is done right after our wallet optimizations. As to how long, within a few months (including the wallet core upgrade and optimizations) but I don't want to set any hard deadlines. It depends how far we want to implement the Znode scheme. Do we just do the incentivized node structure first without its implementation of its segregated Zerocoin processing or delay it a bit to get the Zerocoin processing in as well.

And for the many people asking on Znode coins required? I'll do a copy paste from our Slack convo:

The team doesn't know yet either. We won't determine the figure until it's closer to launch.
Why? Not for any secret reason.
But what if zcoin was somehow worth 1000 dollars
Then even if we set a figure now
It won't be realistic anymore
Znode launch is some months away as per our roadmap
So pointless to set it now, once we are clear on a release date and closer to launch
Then we can set a figure. Orr if zcoin price crash then too low a figure would be also not good
For example if zcoin was worth 0.50 back to my entry , then would u want the cost for a zcoin node to be only 1000 xzc or 500 USD ? No right lol
So again, we don't have any figure because right now we want to work out the tech then we can determine the economics. It's much easier dev than mtp and should be a lot faster
But we will see

[carap]

zcoinofficial, my latest post regarding znodes was left unanswered, so I repeat a main part of it.

My idea is to ignore the price of Zcoin and think of it in terms of percent of total coin supply that community finds fair enough to reserve in Znodes. Will it be 5%, 10%, 50%... And how many nodes we need for quality decentralization? 100, 1000, 5000?
For example, according to coinmarketcap there are 2,310,089 Zcoins, if 10% will be reserved and only 100 nodes are required it makes 2310089*0.1/100 = 2310 Zcoins should be hold by single node.  

[zcoinofficial]

zcoinofficial, my latest post regarding znodes was left unanswered, so I repeat a main part of it.

My idea is to ignore the price of Zcoin and think of it in terms of percent of total coin supply that community finds fair enough to reserve in Znodes. Will it be 5%, 10%, 50%... And how many nodes we need for quality decentralization? 100, 1000, 5000?
For example, according to coinmarketcap there are 2,310,089 Zcoins, if 10% will be reserved and only 100 nodes are required it makes 2310089*0.1/100 = 2310 Zcoins should be hold by single node.  

Number of nodes required for decentralization is also a function of how many users of Zcoin there which is hard to determine is but I guess if we do it as Bitcoin as a benchmark and relative market cap that still requires price.

Otherwise we will be plucking figures out of thin air to determine the number of nodes required.

Your suggestion has some merit and we will consider it however given that we are still a ways off, we are in no hurry to determine this figure just yet. Releasing the figure itself creates more speculations which also alters the situation to something we already committed to. Of course once launch has happened we may not have control of this but at the very least we want to get the balance as right as we can.

[AngusCanine]

MTP won't fundamentally change Zcoin's market price. On Bittrex there's currently an excess of sell orders over buy orders of Zcoin of $5 million USD, unless I'm reading it wrong, in which case tell me. Maybe that's partly because miners leave it on the market and don't focus on it and just leave it sitting there, whereas buyers are in and out quickly. Still, that's gotta worry other people besides me.

The sooner we get zcoin incentivised nodes going the better. 500 or 1000 coin stake required. maybe 500 to avoid making smaller investors feel bad. When can you do this Zcoin team?

Well if I had to hazard a guess, the upcoming MTP release has already changed Zcoin's market price. We have doubled since a short while ago? But who knows, it's crypto land where ICOs with only a smattering of untested code can raise millions of dollars in a couple of hours.

As for Znodes, our incentivized nodes scheme, this is done right after our wallet optimizations. As to how long, within a few months (including the wallet core upgrade and optimizations) but I don't want to set any hard deadlines. It depends how far we want to implement the Znode scheme. Do we just do the incentivized node structure first without its implementation of its segregated Zerocoin processing or delay it a bit to get the Zerocoin processing in as well.

And for the many people asking on Znode coins required? I'll do a copy paste from our Slack convo:

The team doesn't know yet either. We won't determine the figure until it's closer to launch.
Why? Not for any secret reason.
But what if zcoin was somehow worth 1000 dollars
Then even if we set a figure now
It won't be realistic anymore
Znode launch is some months away as per our roadmap
So pointless to set it now, once we are clear on a release date and closer to launch
Then we can set a figure. Orr if zcoin price crash then too low a figure would be also not good
For example if zcoin was worth 0.50 back to my entry , then would u want the cost for a zcoin node to be only 1000 xzc or 500 USD ? No right lol
So again, we don't have any figure because right now we want to work out the tech then we can determine the economics. It's much easier dev than mtp and should be a lot faster
But we will see

maybe a variable number would be in order

[LuckyKey]

MTP won't fundamentally change Zcoin's market price. On Bittrex there's currently an excess of sell orders over buy orders of Zcoin of $5 million USD, unless I'm reading it wrong, in which case tell me. Maybe that's partly because miners leave it on the market and don't focus on it and just leave it sitting there, whereas buyers are in and out quickly. Still, that's gotta worry other people besides me.

The sooner we get zcoin incentivised nodes going the better. 500 or 1000 coin stake required. maybe 500 to avoid making smaller investors feel bad. When can you do this Zcoin team?

More FUD from the FUD'er. lol  I actually appreciate the insight, but you have to look at the other half of the glass.

It only takes about half of the daily volume to double the current zcoin price - that's a great ratio compared to most coins. A steady flow of good news and progress, with some marketing, should provide steady gains for zcoin. As has been mentioned many times, 100 million market cap is the floor for any working coin that has any promise. Most zcoin holders believe it will surpass that in no time, and can eventually gain (and even surpass) other anonymity coins, that have market caps many times the 100 million value.

Zcoin is exciting tech...makes it easy for me to hold on to during weak hand selling.

[ljp7839008]

Zcoin is the only true anonymous crypto currency in existence and the world is waken up to that fact finally

[yaooke]

[vsyc]

MTP won't fundamentally change Zcoin's market price.

Your posts will not fundamentally drop Zcoins market price.

[Shiroslullaby]

Is there any information/ suggestions as to what kind of hardware and connection would be required to run a node?
I think this coin definitely has promise and would consider the option as long as it wasn't too cost prohibitive.
Would love to hear recommendations for setting up a node whenever that information is available.

[zcoinofficial]

Is there any information/ suggestions as to what kind of hardware and connection would be required to run a node?
I think this coin definitely has promise and would consider the option as long as it wasn't too cost prohibitive.
Would love to hear recommendations for setting up a node whenever that information is available.

A Znode or a normal node?

A normal node would only require the cheapest vps u can find. A znode we would recommend something slightly beefier but we'll double check as it depends on the Zerocoin spend tx. Any decent cpu should do.

Connection is normal. Similar to what u need for a bitcoin node.

maybe a variable number would be in order

To have variable numbers is not workable. Just imagine nodes suddenly not having enough for stake and dropping in and out of 'znode' status.

[Telepo]

When is the MTP officially released? I could remember the MTP should be released in this month (June,2017) but until now it's not yet released.
is there any delay for this algo? I really need this MTP news .

[yaooke]

https://twitter.com/eaglecrypto/status/877527402733330433

[davide72]

https://twitter.com/eaglecrypto/status/877527402733330433

great video, the real value of this coin compare to dash and other coin should be at list at 0.1 , it will come one day for sure just need to be patient!

[minersuperfish]

MTP next few days!
http://fotohosting.info/img/2017-06/22/hab3x8lwk3m0ljv71ty4xczsm.jpg

[nunu82]

Hello zcoin co & team

we need official announcement? it's seems to me this day will never happened.

[zuluking]

Announcements should not be made privately from developers.

Either say nothing or go public with it through the appropriate channels. Anything else raises suspicions of insider trading, preferential treatment and/or corruption.

[nunu82]

Announcements should not be made privately from developers.

Either say nothing or go public with it through the appropriate channels. Anything else raises suspicions of insider trading, preferential treatment and/or corruption.

+1.

Maybe "Corruption" isn't appropriate...personnal opinion.

[bkcdt]

Announcements should not be made privately from developers.

Either say nothing or go public with it through the appropriate channels. Anything else raises suspicions of insider trading, preferential treatment and/or corruption.

This wasn't a private message. This was a conversation in the general channel on slack. I saw it on slack last night. You can go on the Zcoin slack and see it there. Anyone part of the Zcoin slack can see it, currently 1114 users. There's nothing private about it. I understand where you're coming from but it wasn't private ok 😊

[LuckyKey]

Announcements should not be made privately from developers.

Either say nothing or go public with it through the appropriate channels. Anything else raises suspicions of insider trading, preferential treatment and/or corruption.

This wasn't a private message. This was a conversation in the general channel on slack. I saw it on slack last night. You can go on the Zcoin slack and see it there. Anyone part of the Zcoin slack can see it, currently 1114 users. There's nothing private about it. I understand where you're coming from but it wasn't private ok 😊

It's the same timeline that's been mentioned many times, as many people inquire as to an exact moment. lol 

Within the next few days was stated, and, by end of the month. That said, common "dev/testing" sense says dev and testing efforts could be +/- days?

Announcement is said to coincide with the release.

I would also echo, as with any coin, if you're keen to follow then get in the slack to view/participate in latest coin thoughts/discussions regarding dev/testing/etc. 

[joshvdk]

Announcements should not be made privately from developers.

Either say nothing or go public with it through the appropriate channels. Anything else raises suspicions of insider trading, preferential treatment and/or corruption.

Lol this is stupid allegation the only reason he says that is because literally everyone who joins the slack group keeps asking it. I don't even get how reuben can keep his chill it's annoying AF