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Author Topic: [ANN][ZEN] ZENCASH: Permanent, Distributed, and Fully Anonymous cryptocurrency  (Read 243235 times)
OrangeP
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June 09, 2017, 12:00:57 AM
 #1561

phew what a blunder... the coins are absolutely worthless right now. not even a reason to sell anymore because no one is buying.
I'll pick some up when it's $0.50 and below for turnaround speculation.

Hottest Coins: Decred, ZCoin, Waves
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cryptoyes
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June 09, 2017, 12:13:13 AM
 #1562

They should find a way to help legit ZEN owners sell, and they may just survive this ... otherwise neither ZEN nor ZCL deserve the community's support.
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June 09, 2017, 12:17:56 AM
 #1563

ZenCash Status Update Thursday June 8 2017

ZenCash is currently under threat of a zero-day attack announced by the former lead developer of the Zen node and Eleos wallet code. Shortly after announcing his intention of leaving the project, he also announced and made public a method of attacking the Zen blockchain.

The other members of the Zen founding team, Rob Viglione, Rolf Versluis, and Jane Lippencott, are grateful for all the hard work put into the project by Joshua Yabut when he was the lead developer, and thankful for the notification of the potential zero day attack. We will definitely miss him being on the team.

The nature of the attack could lead to a transaction replay from the Zclassic blockchain to the Zen blockchain. There was replay protection put in place for the launch of Zen, but due to the warning it appears more replay protection would be prudent.

Based on the threat, the Zen Core team has asked our primary exchange partner, Bittrex, to protect their holdings by putting the ZEN wallet into maintenance mode until the code has been reviewed. This does not stop trading on the exchange, only the deposit and withdrawal of Zen funds. This is a short term measure.

The Zen blockchain is intact, no funds have been lost to the best knowledge of the Zen team, and the mitigation plan is already in place.

The mitigation plan is:
  • Take a snapshot of the existing blockchain.
  • Review the Zen code for issues (already in progress).
  • Implement whatever measures are necessary to get the Zen code base to a reliable state.

After the short term mitigation plan, the Zen Core team will continue to work with an industry leading development team, IOHK, to continue development and improvement of the ZenCash software to follow along with the vision laid out in the Zen White Paper.

IOHK developers have already been working with Zen and were very helpful in identifying and fixing the code issue that caused the Zen launch delay. They are also in the process of performing the code review for security.

The Zen team is excited about the opportunity to continue to grow and develop the ZenCash cryptocurrency and is thankful to the many community members, contributors, miners, mining pool operators, purchasers of ZenCash, and exchanges (especially Bittrex!) who have expressed support and encouragement for the project.

We intend to continue to provide an update twice daily on the status of the short term issue, and will then resume consistent communications and activity as we work together to realize the vision in the Zen white paper.




Thanks for update.. now we are hopeful that something best will emerge.

I hope Zen will replace ZEC and ZCL
MeistroUK
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June 09, 2017, 12:41:09 AM
 #1564

eeh, i'm unsure whats going on - I literally just bought like 40 zen with btc but bittex has the zen wallet in maintenance and everything is showing as btc - how weird, is this coin dead you think
Dark12
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June 09, 2017, 12:44:36 AM
 #1565

eeh, i'm unsure whats going on - I literally just bought like 40 zen with btc but bittex has the zen wallet in maintenance and everything is showing as btc - how weird, is this coin dead you think
Nah this is just an early adopter award in disguise.  Gonna be the biggest meme launch ever.
Thank me later.
cryptoyes
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June 09, 2017, 01:13:48 AM
 #1566

I just spent some time on their slack ... there is actual hope and real indicators that this roadbump will be over soon and the coin will start recovering. The entire fiasco and drop was caused by a single person (yes, just one) who acted completely irresponsibly. That's what you get for relying on kids to lead projects. He's now gone and, if you ask me, that's a good thing for ZEN.
cryptoyes
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June 09, 2017, 01:22:21 AM
 #1567

It seems it's recovering already ... someone just posted this on slack, shotted from bittrex

SubSpace666
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June 09, 2017, 01:23:39 AM
 #1568

may i ask what indicators your talking about ? only 1 person involved in this issue was allways the case nothing changed from past news.
Dark12
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June 09, 2017, 01:24:00 AM
 #1569

I just spent some time on their slack ... there is actual hope and real indicators that this roadbump will be over soon and the coin will start recovering. The entire fiasco and drop was caused by a single person (yes, just one) who acted completely irresponsibly. That's what you get for relying on kids to lead projects. He's now gone and, if you ask me, that's a good thing for ZEN.

Yea seriously.  Its kind of weird that people are acting like it's the end of the world because some child threw a tantrum and quit.
good riddance.
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June 09, 2017, 01:24:37 AM
 #1570

In other, non end of the world news.

Thanks to @movrcx's donation, our first bonus round is scheduled to start soon.

more info https://minez.zone/news#55round1
Dark12
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June 09, 2017, 01:33:32 AM
 #1571

In other, non end of the world news.

Thanks to @movrcx's donation, our first bonus round is scheduled to start soon.

more info https://minez.zone/news#55round1

Ready and waiting!   Been mining at 800 Sol/s for the past couple days.  Cheesy
cryptoyes
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June 09, 2017, 01:34:16 AM
 #1572

https://i.gyazo.com/842a2be87777ad60818dee67fe71a4e8.png

looking good Smiley
cryptoyes
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June 09, 2017, 01:39:03 AM
 #1573

may i ask what indicators your talking about ? only 1 person involved in this issue was allways the case nothing changed from past news.

@blockops said this on slack (he's one of the more serious devs)

Quote
blockops [2:06 AM]
I've had a few people ask me this so I'll provide a public answer. Movrcx won't be rejoining the Zen core team with me and @finpunk

Right now the 8.5% treasury allocation is accumulating and we intend to use the funds to bootstrap the growth of Zen by hiring Developers and spending the funds in other ways that benefit the project.

Movcrx, real name Joshua Yabut, is the guy responsible for this entire mess by publicly pointing out an exploit which scared everyone and caused bittrexz to shut down wallets, who insulted the other devs, left the team to go *back* to ZCL.
blockops
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June 09, 2017, 01:57:31 AM
 #1574

may i ask what indicators your talking about ? only 1 person involved in this issue was allways the case nothing changed from past news.

@blockops said this on slack (he's one of the more serious devs)

Quote
blockops [2:06 AM]
I've had a few people ask me this so I'll provide a public answer. Movrcx won't be rejoining the Zen core team with me and @finpunk

Right now the 8.5% treasury allocation is accumulating and we intend to use the funds to bootstrap the growth of Zen by hiring Developers and spending the funds in other ways that benefit the project.

Movcrx, real name Joshua Yabut, is the guy responsible for this entire mess by publicly pointing out an exploit which scared everyone and caused bittrexz to shut down wallets, who insulted the other devs, left the team to go *back* to ZCL.

Thank you for the support!

My slack posting was the first two paragraphs. I did not post the third paragraph in the slack. I fixed the quote marks for you  Smiley

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June 09, 2017, 02:12:31 AM
 #1575

What's a mess from one unprofessional guy Undecided I'm still in and wishing zen team all the best Wink

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cryptoyes
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June 09, 2017, 02:37:03 AM
 #1576

Ok, this thing will recover. This was posted on slack by Charles Hoskinson:

Quote
charleshoskinson [3:21 AM]
And in the meantime https://www.youtube.com/watch?v=dMNhOIUcOYo

and if you dodn't know who Charles Hoskinson is, then Robert Viglione (aka @finpunk, a ZEN dev) can tell you this:
Quote
finpunk [3:24 AM]
@tansleyfolk we have very helpful support from some awesome ETC guys, yes

tansleyfolk [3:25 AM]
good to hear :slightly_smiling_face: you should make a public post about that... if you are allowed... that's excellent news

finpunk [3:25 AM]
@charleshoskinson helped found ETH, yes, and is CEO of IOHK with major support for ETC and now Zen

[3:25]
he's also just a really cool guy interested in building interesting tech and decentralized governance structures

That's the sort of good news we needed!
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June 09, 2017, 03:40:57 AM
 #1577

I hope it goes up again, I bought a few coins on recommendation.
Maybe I'll get a chance to talk to Charles again when he visits the office somewhere this year.
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June 09, 2017, 03:42:05 AM
 #1578

Everyone here praising the team and hoping for a new day, well what can I tell you other than you must really like that wool over your eyes or licking boots. Look, i get it, you're still invested because you had to hold and now you're just praying to god tha the coin goes back up.

Let me spell it out for you: You were just defrauded by this team.

There are plenty of other coins with interesting technology with legitimately decent people running the helm.

Zencash already showed everyone that their users are meaningless to them. I suggest you do the same in return and stop supporting ZEN and ZCL.

Oh and that huge sell off? You can bet that was someone within the project dumping on you and cashing out. That's fraud.


Good luck.
snowyNNN
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Pasl [Xci-r.i.p.] Eth Zcl Kmd Zen Rep Xmr Sc Neo


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June 09, 2017, 04:43:56 AM
 #1579


Tweet 1.:``The $ZEN development team supports Bitcoin Unlimited's Emergent Consensus proposal and are looking at implementation details.``

Tweet 2.:``I changed my mind about #BIP200... time to end the Bitcoin Civil War.``

Those tweets about bitcoin debate were tweeted 5 hours apart, just a day before announcing leaving Zen and stuff. This Movrcx is just going from one end to the other. Looks like mental problems to me.

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cryptoyes
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June 09, 2017, 04:46:00 AM
 #1580

Everyone here praising the team and hoping for a new day, well what can I tell you other than you must really like that wool over your eyes or licking boots. Look, i get it, you're still invested because you had to hold and now you're just praying to god tha the coin goes back up.

Let me spell it out for you: You were just defrauded by this team.

There are plenty of other coins with interesting technology with legitimately decent people running the helm.

Zencash already showed everyone that their users are meaningless to them. I suggest you do the same in return and stop supporting ZEN and ZCL.

Oh and that huge sell off? You can bet that was someone within the project dumping on you and cashing out. That's fraud.

Good luck.

Easy to give that advice when you haven't invested. For those who have invested it makes sense to encourage the market so the price can rise a little. Not much else they can do at the moment (many of them can't sell at all because bittrex locked the wallets). Rather than moan and bitch they better suck it up and cut the devs some slack ... it was really just one person, Movrcx (Joshua Yabut). I've seen much bigger companies go through worse because of a single person and then recovered to a bigger valuation (said person ended up nowhere in the end). It's doable.

After spending some time on slack tonight, I think it will recover. The market is memoryless, which will help.
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