This is what I personally feel about ZEC.
As a beginner in the crypto space, I was initially drawn to it as a promising coin with a good developers team. I even mined some ZEC for some time using my modest GPU equipment.
Had I known better, I would've been immediately suspicious of its 20% developers fee. Nowadays I don't even consider ZEC for anything serious.
You have other privacy coins to choose from, many of which come without any premine whatsoever.
And you can easily switch to mining them once they have modified their proof of work to be ASICS resistant.
Topic: Deception & Misdirection by ZEC co. Forking ASIC Resistance Bitmain Antminer Z9 - page 16. (Read 4620 times)
May 09, 2018, 09:56:52 AM
May 09, 2018, 09:41:05 AM
the only one who will lose in this are miners especially the miners who will buy batches 2 and later . profit per day will decrease a lot once ASIC start to take over , developers already gained and got what they want from miners and from the coin . Bitamin will gain alot by selling those ASIC miners from batch 1 and from the noobs ( from batch 2 and moving forward ). ZEC will die slowly now . RIP ZEC
May 09, 2018, 09:26:09 AM
I knew this would happen, reason why I never invested on any equihash coin, there is nothing amazing or brilliant about zec, monero is in many ways better, the only thing i don't like about monero is the high transaction fees.
May 09, 2018, 08:46:06 AM
"Board member Andrew Miller is planning to create a proposal through the grants program to convene a Technical Advisory Board to provide scientifically grounded inputs into this decision."
"Based on continued community approval and the results of our investigation above, we have a rough goal of developing and submitting a mitigation plan through the ZIP process, targeting a deployment in late 2018."
In the age of Uber, they will take a good year to sort this out. Just WOW!!
Edit: In case they have doubts on ASIC capabilities, here's one doing 40K:
https://www.asicminervalue.com/miners/asicminer/equihash-40k
Good luck!
May 09, 2018, 08:32:37 AM
When devs needs hashrate they are the best friend of small miners, garage miners, medium miners, but when the coin reaches a great volume of money, they forgot all and don't care about community
May 09, 2018, 12:12:45 AM
Hey everyone, I recently did this video (https://www.youtube.com/watch?v=oPdnG03eI58) showing some of the recent Deception and Misdirection that the ZCash team has pushed on us all over the last 1.5 years and ofcoarse more recently over the last week with the announcement of the Z9.
ZCash has released this statement: https://z.cash.foundation/blog/statement-on-asics/
Which basically says they don't have any plans to fork off the ASICs any time soon because they feel they are incompetent in understanding how the ASICs work. (and stated elsewhere they don't want to disrupt their sapling upgrade)
This is in contrast to how BTCP, BTG and BitcoinZ has decided on.
In my personal view, we have been lied to in order to found and grow the ZEC co. Network over the last 1.5 years, with promises of forking away and developed ASIC in the future... I believe this was deliberately done in order to build a network from a hashrate of 0 to a hashrate that is now worth ASIC development and take over... as no company is going to build an ASIC for a non-existant or small network... ZCash needed to convince us.. needed us to trust them that it was worth while and safe to build GPU miners to support their network... They did this by saying that they would fork off ASICs and keep the chain GPU minable.
Zooko has been saying for a few months now that he does not really think ASICs are a problem, and even went so far in a recent tweet to say that "commodity mining means miners have less at stake and don't lose much if abandon or betray the project... not the people I want to have around." ... which basically declared those of us who supported his network from day 0 as the enemy. We can face the sad fact he was never fond of GPU mining... He has repeatedly tried to argue the Pro-ASIC argument for the last few months.
Now I would like to state that in the following video, that Shawn is not an "official" employee of the ZEC co., but a "volunteer" employee who runs the ZCash forum forum.z.cash, their reddit, and other webpages designed to promote ZCash. However, as a moderator on the COMPANY forum, no matter what he says, he does REPRESENT ZEC co, and his opinion was taken as a representation of ZEC co. in the past without refute or clarification.
I will leave you to watch this video and form your own opinon on the ethics and future of ZEC co and its founder Zooko.
My question to you is, have us GPU miners been played as fools by ZEC co.?
If you are Pro-ASIC or Anti-ASIC is not the debate... that is a personal opinion and not the question at stake here. I want to think how many people believe we have been misled.
I should add that this video got me BANNED from the ZCash forums and BLOCKED from Zooko's Twitter. As an early supporter of ZCash extending back to the Testnet days and avid participant of the forum, you can imagine how angry they are me for showing you what I show you in the below video.
https://www.youtube.com/watch?v=oPdnG03eI58
ZCash has released this statement: https://z.cash.foundation/blog/statement-on-asics/
Which basically says they don't have any plans to fork off the ASICs any time soon because they feel they are incompetent in understanding how the ASICs work. (and stated elsewhere they don't want to disrupt their sapling upgrade)
This is in contrast to how BTCP, BTG and BitcoinZ has decided on.
In my personal view, we have been lied to in order to found and grow the ZEC co. Network over the last 1.5 years, with promises of forking away and developed ASIC in the future... I believe this was deliberately done in order to build a network from a hashrate of 0 to a hashrate that is now worth ASIC development and take over... as no company is going to build an ASIC for a non-existant or small network... ZCash needed to convince us.. needed us to trust them that it was worth while and safe to build GPU miners to support their network... They did this by saying that they would fork off ASICs and keep the chain GPU minable.
Zooko has been saying for a few months now that he does not really think ASICs are a problem, and even went so far in a recent tweet to say that "commodity mining means miners have less at stake and don't lose much if abandon or betray the project... not the people I want to have around." ... which basically declared those of us who supported his network from day 0 as the enemy. We can face the sad fact he was never fond of GPU mining... He has repeatedly tried to argue the Pro-ASIC argument for the last few months.
Now I would like to state that in the following video, that Shawn is not an "official" employee of the ZEC co., but a "volunteer" employee who runs the ZCash forum forum.z.cash, their reddit, and other webpages designed to promote ZCash. However, as a moderator on the COMPANY forum, no matter what he says, he does REPRESENT ZEC co, and his opinion was taken as a representation of ZEC co. in the past without refute or clarification.
I will leave you to watch this video and form your own opinon on the ethics and future of ZEC co and its founder Zooko.
My question to you is, have us GPU miners been played as fools by ZEC co.?
If you are Pro-ASIC or Anti-ASIC is not the debate... that is a personal opinion and not the question at stake here. I want to think how many people believe we have been misled.
I should add that this video got me BANNED from the ZCash forums and BLOCKED from Zooko's Twitter. As an early supporter of ZCash extending back to the Testnet days and avid participant of the forum, you can imagine how angry they are me for showing you what I show you in the below video.
https://www.youtube.com/watch?v=oPdnG03eI58
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