Zcash, Revolution or Failure?

[Crypto-News]

The way the developers like to explain what is Zcash is through an anecdote comparing Bitcoin to http and Zcash to https. This makes a lot of sense, since Bitcoin, unlike Zcash is completely transparent.

Read whole article @
https://www.crypto-news.net/zcash-revolution-or-failure/

[European Central Bank]

I know nothing about the tech.  I do know the way it was launched was ridiculous.  I'll wait for a sensible fork.

[greenuser]

I have GPUs sitting idle.  I might mine it in 4 years when Devs no longer get 20%

Shit, my government want 20% Capital Gains tax,
the Devs want 20% tax
and the exchanges take some to.  
I then pay Value Added Tax to my electric provider at 20%.  

Lots of people on the make here so I'm happy to let my GPUs sit idle.

Where are Zcash regestered for tax? US? because we need to build a wall.

Got some time off soon, im gonna format my server, remove all traces of Ethereum and Classic node and install Bitcoin 0.13.1 with SegWit.

Zcash =  Zcrash

[tiggytomb]

It is crazy right now, the price yesterday was 0.7 now it's up to 2.5 and it was stupendous when it was launched.  I think time will tell with this one further down the line if it can stand on it's own or if it is just pure hype.

[klarki]

This is very dangerous "swing." If you have weak nerves, it is better not to start.

[mrkevio]

I guess it'll be just a failure like the other Altcoins, or at least most of them which reached a stable, constant price. Just like the others, Zcash will probably be fine for maximum 2 years and then it'll fail.

[Snorek]

Out of curiosity I checked out how much is worth 1 unit of ZCash currently. I was shocked - the price of 1 ZCash is over $1.300 ATM.
Isn't this making ZCash the most expensive cryptocurrency ever created? Since Bitcoin ATH was only $1242...

I doubt it will last long though.

[Shiroslullaby]

Its an example of (apparently) brilliant marketing and how mob mentality works.
99% of the people buying/ trading, mining have no idea about any of the technical aspects,
they only care about the hot new coin and a chance to make a few dollars.

It's kind of a sad comment on the state of the market actually,
but I guess that's human nature. (The desire to make money at whatever cost.)

[elektrofreak]

Its an example of (apparently) brilliant marketing and how mob mentality works.
99% of the people buying/ trading, mining have no idea about any of the technical aspects,
they only care about the hot new coin and a chance to make a few dollars.

It's kind of a sad comment on the state of the market actually,
but I guess that's human nature. (The desire to make money at whatever cost.)

People who lack the desire to make money at all costs are typically poor.. I know, I lack that desire. I also lack the skillset required to fully grasp the tech bhind this and many other coin. I do understand digital electronic hardware though, and this is a great way to become immersed in maintaining and modifying current computing gear :-D

[jonesskill]

I have GPUs sitting idle.  I might mine it in 4 years when Devs no longer get 20%

Shit, my government want 20% Capital Gains tax,
the Devs want 20% tax
and the exchanges take some to.  
I then pay Value Added Tax to my electric provider at 20%.  

Lots of people on the make here so I'm happy to let my GPUs sit idle.

Where are Zcash regestered for tax? US? because we need to build a wall.

Got some time off soon, im gonna format my server, remove all traces of Ethereum and Classic node and install Bitcoin 0.13.1 with SegWit.

Zcash =  Zcrash

I Invite you to spend 3 days in here in Brazil, If you survive here 2 months you will see what the fu*** is tax.

[Snorek]

Its an example of (apparently) brilliant marketing and how mob mentality works.
99% of the people buying/ trading, mining have no idea about any of the technical aspects,
they only care about the hot new coin and a chance to make a few dollars.

It's kind of a sad comment on the state of the market actually,
but I guess that's human nature. (The desire to make money at whatever cost.)

People who lack the desire to make money at all costs are typically poor.. I know, I lack that desire. I also lack the skillset required to fully grasp the tech bhind this and many other coin. I do understand digital electronic hardware though, and this is a great way to become immersed in maintaining and modifying current computing gear :-D

The problem with new ICO, projects, emerging altcoin and financial technology is simple. Even if you are highly skilled individual with high technology awareness it might be not enough.
We simply can't predict if new project will be 100% successful or fail along the way somewhere like many others. Even totally first grade projects (or being presented as such) can fail.
Some examples: The DAO, PayCoin, GEMS, SpaceBit and probably many, many more but less known alts.

[ratatatat]

Its an example of (apparently) brilliant marketing and how mob mentality works.
99% of the people buying/ trading, mining have no idea about any of the technical aspects,
they only care about the hot new coin and a chance to make a few dollars.

It's kind of a sad comment on the state of the market actually,
but I guess that's human nature. (The desire to make money at whatever cost.)

People who lack the desire to make money at all costs are typically poor.. I know, I lack that desire. I also lack the skillset required to fully grasp the tech bhind this and many other coin. I do understand digital electronic hardware though, and this is a great way to become immersed in maintaining and modifying current computing gear :-D

The problem with new ICO, projects, emerging altcoin and financial technology is simple. Even if you are highly skilled individual with high technology awareness it might be not enough.
We simply can't predict if new project will be 100% successful or fail along the way somewhere like many others. Even totally first grade projects (or being presented as such) can fail.
Some examples: The DAO, PayCoin, GEMS, SpaceBit and probably many, many more but less known alts.

You don't need to be able to read the code to understand more complexity means greater attack surface.
ETH failure was 100% predictable even if you did not understand all the details.
Same goes for zcash
Personally i'm already concerned about segwit.

You know, a team of 5 or 10 people creates something, puts it in the wild and then millions of hackers try to attack it. See the odds?

The more features it has the more features can be potentially exploited. 100 features are 100 attack-vectors.

[European Central Bank]

Personally i'm already concerned about segwit.

You know, a team of 5 or 10 people creates something, puts it in the wild and then millions of hackers try to attack it. See the odds?

once upon a time bitcoin was the job of one guy. even when it started to go places it was looked after by a small number of people. that is a very good point you have but i'm pretty sure these people know what they're doing. it's not like building something from scratch.

everything that's come after kinda tells us everything we need to know about trying to introduce complexity. someone out there is cleverer and nastier than the creator.

[ratatatat]

Personally i'm already concerned about segwit.

You know, a team of 5 or 10 people creates something, puts it in the wild and then millions of hackers try to attack it. See the odds?

once upon a time bitcoin was the job of one guy. even when it started to go places it was looked after by a small number of people. that is a very good point you have but i'm pretty sure these people know what they're doing. it's not like building something from scratch.

everything that's come after kinda tells us everything we need to know about trying to introduce complexity. someone out there is cleverer and nastier than the creator.

btc wasn't flawless when it was created. Many bugs were discovered especially early on. No matter how good your expert is, there is always something they overlook. One person has only one perspective on things and will without a doubt fail to see all the possibilities.

New technology means new bugs. Sure they don't build from scratch but the new things that are introduced are new potential troublemakers. It's just the nature of the thing.
These networks are accessible by anyone with an internet connection. It's really the dev team plays against the rest of the world.  

The mindset that's needed by a sucessful coindev is a love of minimalism and good security awareness.
Devs who want to inovate a lot of things and create coins with lots of new features will fail in most cases.

[elektrofreak]

The mindset that's needed by a sucessful coindev is a love of minimalism and good security awareness.

So basically the opposite of ethereum? I feel like their devs would stop every so often while developing the concept and look around at each other and in unison say "needs more cowbell". And this continued for a very long time. It just seems overly complex, and not just a little bit, heaps. And it hasn't done them any security favors either.

[ipanks]

i don't understand why zcash is higher than btc and for the launch in polo, the price is really high and after 2 days and now, the price is suddenly getting down too deep than yesterday. but i am curious about what is happen for next.

[chennan]

i don't understand why zcash is higher than btc and for the launch in polo, the price is really high and after 2 days and now, the price is suddenly getting down too deep than yesterday. but i am curious about what is happen for next.

This only primarily happened, because the devs and maybe a few investors had time to mine for maybe a day which gave them control of the only Zcash in existence, and then they let the demand just escalate by only putting small fractions of Zcash for sell at stupidly high prices.

Because there was just that much hype and marketing that went into the whole Zcash "craze", people just bought it up.  Or maybe some traders just set their bots to trade Zcash, no matter what the price was. 

[Snorek]

Its an example of (apparently) brilliant marketing and how mob mentality works.
99% of the people buying/ trading, mining have no idea about any of the technical aspects,
they only care about the hot new coin and a chance to make a few dollars.

It's kind of a sad comment on the state of the market actually,
but I guess that's human nature. (The desire to make money at whatever cost.)

People who lack the desire to make money at all costs are typically poor.. I know, I lack that desire. I also lack the skillset required to fully grasp the tech bhind this and many other coin. I do understand digital electronic hardware though, and this is a great way to become immersed in maintaining and modifying current computing gear :-D

The problem with new ICO, projects, emerging altcoin and financial technology is simple. Even if you are highly skilled individual with high technology awareness it might be not enough.
We simply can't predict if new project will be 100% successful or fail along the way somewhere like many others. Even totally first grade projects (or being presented as such) can fail.
Some examples: The DAO, PayCoin, GEMS, SpaceBit and probably many, many more but less known alts.

You don't need to be able to read the code to understand more complexity means greater attack surface.
ETH failure was 100% predictable even if you did not understand all the details.
Same goes for zcash
Personally i'm already concerned about segwit.

You know, a team of 5 or 10 people creates something, puts it in the wild and then millions of hackers try to attack it. See the odds?

The more features it has the more features can be potentially exploited. 100 features are 100 attack-vectors.

What are your concerns about SegWit? Do you think it is not safe or do you think we won't reach 95% consensus needed to activate it?
From what I read Segwit is safe project. It is not as bloated as Ethereum's DAO was, as even its creators had no idea how it is really working.

Anyway ZCash will never be a mainstream coin. Any coin with total payment confidentiality won't reach that goal. And even Equihash won't help it.

[th3nolo]

zcash is a revolution of course but revolution of speculation.. I don't know. I think is very dangerous to play this game rigth now but.. everybody can do with his money whatever they want.
But zcash has great features, this something we can't ignore, I hope to see great development with this technology instead of speculation where the technology pass to second plane.
Although I have curiosity, dark markets will take advantage of this technology?

[Mogul59]

Cloud Mining at nicehash unprofitable.
rental price will fall?