20% to founders for life... Is it necessary to say more?
it could even be a good coin(it isnt) and i wouldnt touch it, worse than premined sh*t.
if i want to pay high taxes, i will simple keep my fiat money.
Topic: Addressing Zcash's trusted setup (Read 841 times)
I heard ZClassic did the same thing that you were trying to get accomplished. Already on Bittrex and has a website with a tiny community.
My guess is that funding is an issue and hasn't had the "boost" to get going.
Why not help those guys out?
http://zclassic.org/
My guess is that funding is an issue and hasn't had the "boost" to get going.
Why not help those guys out?
http://zclassic.org/
Fiat money is "trusted setup" too
And no "limited supply" cryptocurrency can withstand that force originating from any unlimited currency getting in market contact to it. Central Bank can just print fresh money to buy all that scarce stuff - they own the necessary unlimited cash supply. They can move the market value if the limited supply coin at will, up or down for their leisure.
So maybe it's a good thing that there is now at least one cryptocurrency in existence featuring unlimited coin supply, central bank style too! Now the forces are much more ballanced out again
Btw that chair is looking sufficient enough, since that kitchen door wasn't the backdoor.
Fiat money is "trusted setup" too
Hey moderator, click the fucking photo. It links to Peter Todd's explanation of his security procedures during the Zcash setup. The chair is actually part of his security procedures.
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And the security of Zcash's setup hinges on:
Due to the nature of the trusted setup, there will be no way to verify the true supply of Zcash.
We can never verify that only 21 million coins will ever exist. Many have pressured Zooko to address this, but it seams the Zcash team is content not to.
As such, I'm working on building a team to fork Zcash. The goals:
1) make the supply auditable by enforcing a once-per-[epoch] transaction which reveals not who but how much funds are owned. Any funds not moved in each audit, won't be fungible going forward. We can then be certain that inflation is happening according to the stated parameters, and we no longer need to trust those launching the protocol.
2) Remove the founder's reward. The founders will be well-compensated by Zcash. We intend for no pre-mine, no ICO, no founder reward mechanism. Just honest mining from the genesis block.
3) Undecided: Whether to make anonymous transactions compulsory. The ability not to use anonymous transactions weakens the rest of the network's anonymity. But there are big tradeoffs to making this change, due to the computational heaviness of ZKsnark transactions.
Anyone interested in developing this fork, please contact me. We are a small group pooling funds to pay developers.
We can never verify that only 21 million coins will ever exist. Many have pressured Zooko to address this, but it seams the Zcash team is content not to.
As such, I'm working on building a team to fork Zcash. The goals:
1) make the supply auditable by enforcing a once-per-[epoch] transaction which reveals not who but how much funds are owned. Any funds not moved in each audit, won't be fungible going forward. We can then be certain that inflation is happening according to the stated parameters, and we no longer need to trust those launching the protocol.
2) Remove the founder's reward. The founders will be well-compensated by Zcash. We intend for no pre-mine, no ICO, no founder reward mechanism. Just honest mining from the genesis block.
3) Undecided: Whether to make anonymous transactions compulsory. The ability not to use anonymous transactions weakens the rest of the network's anonymity. But there are big tradeoffs to making this change, due to the computational heaviness of ZKsnark transactions.
Anyone interested in developing this fork, please contact me. We are a small group pooling funds to pay developers.
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