The first post in this thread should be updated and include some pools. I had to scroll a few pages to find some.
Topic: [ANN][ZEN] ZENCASH: Permanent, Distributed, and Fully Anonymous cryptocurrency - page 30. (Read 243380 times)
June 11, 2017, 02:32:14 PM
June 11, 2017, 02:22:01 PM
Why are there no actual instructions here on what needs to be done if I'm running a node?
Does a software update need to be done or not?
This is listed above as the official site but has no updated release: https://github.com/ZencashOfficial
But this fork has updated software: https://github.com/cronicc/zen/releases
Who is cronicc? Is this version legitimate since it is not the official site? And should I update my node to this version before the fork?
And is there an active block explorer? http://zenblockx.minez.zone/ is still offline.
This is a point where we need absolute clarity in what steps to take or this fork will be a mess.
Specific instructions should be posted here and on the blog site.
They are working on a mandatory upgrade at block 117,575 to fix the security issues permanently.
Cronicc is one of the devs and its legit. He has done the wallet binaries and added the temp fix that is already on the official git (extended replay protection)
Here is an explorer: http://node1.zenchain.info:8886/
Keep an eye on the official git for the mandatory upgrade soon, they are testing it in testnet currently. The win and Mac wallets will be updated when its released.
Hope it helps!
June 11, 2017, 01:48:53 PM
how do i install the ELEOS wallet app on windows? right now all my coins are on suprnova, and its making me nervous...
it doesn't work on windows, every new release is a failure. Joshua, the guy that is claimed above as a star, wrote it, ignoring the ZEC/ZCL working wallets. What he did is POS and says a lot about his programming and architecture skills as he chose web software to run a desktop application, same with the bugs that keep pop up on the node software. Luka is trying to have the wallet working but he's facing an uphill battle as he is dealing with spaghetti code.
June 11, 2017, 12:40:38 PM
how do i install the ELEOS wallet app on windows? right now all my coins are on suprnova, and its making me nervous...
June 11, 2017, 12:38:45 PM
The coin is NOT dead! Developer IOHK from ETC and one other developer have joined the team! One of the best developers so zencash will shine again, but now that it's pretty uncertain it's a good time to buy ZEN and if it succeeds it will pay off greatly.
The exchanges are frozen due to the replay attack. Hard fork will be there soon to fix the issue, i recommend you to checkout the youtube video they posted!
https://www.youtube.com/watch?v=f8SeKOvcQfs
The exchanges are frozen due to the replay attack. Hard fork will be there soon to fix the issue, i recommend you to checkout the youtube video they posted!
https://www.youtube.com/watch?v=f8SeKOvcQfs
June 11, 2017, 12:33:28 PM
That coin died.
June 11, 2017, 10:56:12 AM
Blog posted at: https://blog.zensystem.io/zencash-update-saturday-june-10-at-10-pm-eastern/
ZenCash Update Saturday June 10 at 10 pm eastern
by BlockOps
After updating the security advisory and announcing the hardfork earlier today, some questions came up in slack that it would probably be helpful to answer here on the blog.
When we say we are going to perform a hard fork of ZenCash, what that means is we are going to require all participants in the ZenCash network to do an upgrade to the node software they are running. The upgrade will be required to be implemented by a certain block height, in this case 117,000. Any mining pool or solo miner who is running an older software version that tries to add blocks to the blockchain that will end up with orphaned blocks.
. . .
ZenCash website – https://zensystem.io
ZenCash blog – https://blog.zensystem.io
ZenCash Github – https://github.com/ZencashOfficial
ZenCash Update Saturday June 10 at 10 pm eastern
by BlockOps
After updating the security advisory and announcing the hardfork earlier today, some questions came up in slack that it would probably be helpful to answer here on the blog.
When we say we are going to perform a hard fork of ZenCash, what that means is we are going to require all participants in the ZenCash network to do an upgrade to the node software they are running. The upgrade will be required to be implemented by a certain block height, in this case 117,000. Any mining pool or solo miner who is running an older software version that tries to add blocks to the blockchain that will end up with orphaned blocks.
. . .
ZenCash website – https://zensystem.io
ZenCash blog – https://blog.zensystem.io
ZenCash Github – https://github.com/ZencashOfficial
Why are there no actual instructions here on what needs to be done if I'm running a node?
Does a software update need to be done or not?
This is listed above as the official site but has no updated release: https://github.com/ZencashOfficial
But this fork has updated software: https://github.com/cronicc/zen/releases
Who is cronicc? Is this version legitimate since it is not the official site? And should I update my node to this version before the fork?
And is there an active block explorer? http://zenblockx.minez.zone/ is still offline.
This is a point where we need absolute clarity in what steps to take or this fork will be a mess.
Specific instructions should be posted here and on the blog site.
June 11, 2017, 09:35:58 AM
Right now, miners, pool OPs and the dev team all choosing when to exchange funds all determine current price. That is typical of EVERY other coin.
The uniqueness here is, post replay attack hard fork, the rest of the already in dev features can and will be activated, adding further value and increasing exposure to other marketable services.
The uniqueness here is, post replay attack hard fork, the rest of the already in dev features can and will be activated, adding further value and increasing exposure to other marketable services.
June 11, 2017, 07:54:31 AM
Hi there fellow crypto gents (and ladies too, all 3% of you if the stats are to be believed).
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
Absolutely.
I think that once they add the promised security features it will garner some publicity and hopefully pique the interest of some people who have never even heard of it.
Excellent advice.. but no one knows when this glut will end and everything come on live, so the actual price be decided.
June 11, 2017, 05:19:25 AM
I too have 2 mined deposits not showing up on Tradesatoshi.
Is there any zen block explorer i can look for the txs?
http://node1.zenchain.info:8886/? Is there any zen block explorer i can look for the txs?
June 11, 2017, 05:00:35 AM
I too have 2 mined deposits not showing up on Tradesatoshi.
Is there any zen block explorer i can look for the txs?
Is there any zen block explorer i can look for the txs?
June 11, 2017, 03:31:01 AM
Are tradesatoshi deposits working? 15 min and the unconfirmed tx is not showing up.
edit: 40 fucking minutes... wtf is going on? It seems that we have another scam going on.
edit: 40 fucking minutes... wtf is going on? It seems that we have another scam going on.
June 11, 2017, 03:11:04 AM
I think it's not good idea to increase number of coins necessary for creating a master node from 42 to 200 because better to have more nodes, and this is good for start. Over time 42 coins will have much more significant price so no ham done, and we will have more nodes from the start, which will bring stability and security.
June 11, 2017, 01:31:14 AM
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point.
Not to be rude, but Dash is a privacy coin, and was the first coin to introduce the idea of masternodes about 2-3 years ago.... But I agree with you on the low number of coins... there will be tons of nodes running, and it won't be worth running one.... so surely that will lead to not running one? and that will reduce the number. lol.
June 11, 2017, 01:24:38 AM
Well an awesome developer is RZR, he's working on Cloakcoin, and continued working on it even in times where the team didn't know it still had a fighting chance. He was basically working for free, but had a dream, he made developing Cloak something he won't leave and well Cloak is pulling through now.
The post above compelled me to write this, I wasn't intending to 'advertise' Cloak but tell a story about a developer working on a coin no matter the odds and pay.
The post above compelled me to write this, I wasn't intending to 'advertise' Cloak but tell a story about a developer working on a coin no matter the odds and pay.
June 11, 2017, 01:11:45 AM
Hi there fellow crypto gents (and ladies too, all 3% of you if the stats are to be believed).
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
Great post. I agree with everything you said.
I would add that we shouldn't be too hard on the devs for teaming up with Joshua. Most of the skilled programmers in this space tend to be the anarchist, hacker, cypherpunk type, and often rather eccentric. In addition, it's tough to find a good, dedicated programmer who will work essentially for free.
June 11, 2017, 01:07:37 AM
Can you already deposit in bittrex?
Zen does not appear in bittrex
Zen does not appear in bittrex
Yeah they have a bug with their wallet it should be back soon I think you can still sell at tradesatoshi
Yeah, hopefully it's back up soon.
June 11, 2017, 12:33:05 AM
Zen will keep dropping price, their most valuable dev left them for zclassic. That's why zclassic price kept increasing from 4.30 to 5.20 dollar in 24hours. But because of ddos and bittrex it dropped again to regular price. I've read somewhere that two new guys joined zclassic, i believe on tweeter. They also dumped their Zen stack which again contributed to the price drop
June 11, 2017, 12:01:36 AM
Hi there fellow crypto gents (and ladies too, all 3% of you if the stats are to be believed).
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
I have no official role in Zen but I am a small holder and I want to weigh in on the events over the last few days. First, I want to address the recent price crash and the reasons for it.
The Zencash launch was negatively affected by two things, one outside of the control of developers and one within the control of the developers. Let's start with the delay in the Bittrex launch - the developers can't really control that right. Also, they're a like $12 million cap coin. That means they're price takers when it comes to Bittrex - of course if they were eth devs they could ring up Bittrex and scream, "fix this now!!". But being a small coin, at the end of the day there is nothing the developers could have done about this. In retrospect, it probably would have made more sense to ask tradesatoshi to delay trading also, but who's to say whether they would have complied. Tradesatoshi is such a small exchange, the risk of default would be greater - now it seems the man behind tradesatoshi is an honourable fellow, but it's pretty risky to have your coin on such an illiquid exchange, given what I see as the higher default risk.
The developers could have avoided one of their now expelled former cadres - Joshua Yabut - from deliberately misusing his role coding Zencash to crash Zencash's price and facilitate a temporary pump in ZCL. This is for a couple of reasons. One, if you Google him, there are strands of information that would put one to question Joshua's suitability for the role. Joshua is a capable coder - much better than myself for instance - but he certainly seems to be a highly psychologically unstable person with a feeling of victimisation and a tendency to lash out. He did this by deliberately publically disclosing a security flaw through Twitter with a clearly deliberate intent to cause a Zencash dump. He succeeded and is probably feeling a degree of satisfaction. His real satisfaction will come if Zencash fails, because it's reasonable to assume he sold his holdings before he elicited the dump. If Zencash succeeds over the coming months and years, his satisfaction will probably fade back to the sense of victimisation I sense he carries with him. I have not met him personally, but to me Joshua Yabut appears to have a mild case of Borderline Personality Disorder.
However, people like this are not hard to identify. They will often react inappropriately in different social situations, display high levels of anxiety, and get angry at perceived acts of injustice upon them. So the other devs did have a lapse in judgment in perhaps focusing on his coding skills and overlooking his personal psychological weaknesses. My advice to them would be to freeze him out in totality to the extent possible.
Now going forward, Zencash has a few things going for it. There are three strengths of Zencash that I see. Firstly, having a treasury allows code development and marketing. With some proactive security reviews - to the extent fundable by treasury - we can be the ones getting transfer flows from people cashing out of other privacy coins when they have a security issue (as inevitably happens to most coins), instead of as most recently when we were the ones getting a kicking. The treasury also allows for payment for marketing. Chatter around Zencash outside of the "converted", ie. us, is essential. In particular YouTube videos by cryptomarket commentators are valuable - if this has to be paid for by treasury, so be it.
Secondly, the Master node system is the one advantage Zencash has over all other privacy coins. Except, it doesn't even exist at this point. In my opinion once the security flaw is fixed, and Bittrex wallet reopens, getting Masternodes up and running is essential. I would make a suggestion here to the developers that the number of coins necessary to run a node be increased. It was suggested 42 nodes be the amount needed. I would suggest that at least 200 coins should be required to run a node. The reason is this: At current prices you get the result that someone will get a node for only $300 worth of coin. The result will be so many nodes given the very low cost of VPS service - including free trial years in some cases - that the reward per node could well drop to very, very little. Far better in my view to require real commitment, eg. $1800 assuming 200 coins, and also offer real reward. The good thing here is that if Zencash prices rise - which the node system tends to support in the short term - the capital required to run a node increases exponentially, and therefore early adopters are rewarded.
The third strength I see in Zencash is committed, legitimate developers. Over the longer run, our developers are men who are honest, trustworthy - and over time, this will be of substantial benefit. Let's face it, the crypto space is filled with scams, and frauds - we've got a clean team, leading a coin that offers real value, and a proven method of passive income such as Master nodes. That's of value in this space, that is not everywhere. Over time, the value of the developers here will show.
Now if we all here today can work together, in a year's time, and perhaps five years' after that, and then who knows, we can all look back and feel a sense of satisfaction that we were early adopters in Zencash.
June 10, 2017, 11:52:15 PM
So, what, y'all think our precious scam-coin gonna sink through the sea-bed and never cost a 10 bucks again?
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