Topic: Thoughts on Zcash? - page 50. (Read 123362 times)

You can GPU mine this stuff right (at least on testnet?) Heard some folk saying they could (and buying up GPU rigs to do so) just lurking

and wondering

I just bought a 2 H/s Zcash contract on Genesis mining. Lets see how this turns out

so with all those zcash clone recently, someone can enlighten me? zcoin, for example they said it's use a better technology than zcash, is this true or just a scam coin that want to ride the hype before the official zcash launch?

does anybody know is testnet coins have value or balances will be reset?

I agree, and that is why I say never underestimate a coin that doesn't have a GUI. But with any coin you have to weigh the positives and negatives. Internet Protocol by itself wasn't worth much, as it took many years for it to be developed into something bigger. Bitcoin has been around the longest, but still has a lot to be desired compared to many new alt-coins. With many of these new coins you are betting developers won't lose interest, promised features will become reality, community support will continue, and so on. Don't get me wrong, I'd like to see Zcash do well as competition breeds improvement for everyone. I'm just saying it will likely be a while before we really know much about the fate of this coin. Lack of a GUI, or Windows support are a handicap and WILL affect initial community adoption.

That's true, but the "ease of use" that is part of the crypto currency itself is different from the tools that can be used/forged to use that crypto currency.   There is something like "ease of use" in things like "times to confirm transactions".  That's fundamentally related to the crypto currency itself.  You cannot have, for instance, 6 block confirmations in 30 seconds with bitcoin, because that's part of the crypto currency's immutable definition.

However, the software that uses the crypto currency system (wallets, GUI, ...) is independent of the crypto currency itself.  It is part of the *application* of a crypto currency.  I consider a crypto currency something like, say, the internet protocol.  The internet protocol doesn't have any "user interface".  You can build things on top of that, but that is not the thing itself.

Whether you access the block chain through a web site, a GUI or a CLI has nothing to do with the block chain itself, which rules are the crypto currency.

Simply not true. Ease of use is one of the major considerations of any crypto currency. I would say never underestimate a coin that doesn't have a GUI, but a full featured wallet is certainly going to help adoption. Also, I would never store funds in an online wallet or exchange for any longer than it took to facilitate whatever transaction I was making. One of the key tenets of decentralized crypto currency is being responsible for your own money. If a coin doesn't offer an easy to use wallet, it is more likely those coins will be stolen from online storage. I don't think I need to reference all the better known historical examples.

A crypto currency is a set of rules and a history, that is supposed to be immutable (or only muted for a priori agreed-upon kinds of changes).  It is an abstract concept that is put to work by node software and by a network protocol.   The quality of a crypto currency resides in its principles and in the way a relatively large set of people adheres to it (also called "the community").  And that's it.

A crypto currency has nothing to do with web sites, graphical user interfaces, and "bad" things some people might do with it.

Nobody in his right mind would judge the strength of, say, the Euro or the dollar or the Yen or whatever currency on the basis of the wallets in which you put them, on the user friendliness of ATM that distribute it, or whether someone had badly locked its safe and got some of them stolen.  You don't think that the german Mark was a strong currency because people locked it well up in their safes, and had nice wallets in which they carried it around, while the Zimbabwean dollar was a very weak currency because it got regularly stolen from the cardboard boxes in which people held them, right ?

In the same way, whether crypto gets stolen from web sites like exchanges and web wallets, or whether people have their wallet keys stolen or not, has simply nothing to do with the crypto currency at hand.

maybe read between the lines 
"The web wallet for Monero, MyMonero run by famed XMR developer FluffyPony, has been unresponsive for several days, according to several users on Reddit. Users reportedly were unable to withdraw funds and have contacted support days ago, with no response. Users are still able to import private keys to another wallet to secure their funds.
MyMonero wallets have been targeted in several large thefts, resulting in millions of dollars worth stolen this year. The evidence at this point is inconclusive as to whether the thefts resulted from security vulnerabilities in individual users’ machines, or from the wallet itself."

https://www.reddit.com/r/Monero/comments/52sw9r/9830_xmr_stolen_from_my_mymonerocom_wallet_be/?st=itz37o61&sh=468b44b6

First your post is off-topic and the above are good made arguments ... would not call that badmouthing... if you dont agree with them better make your point and disregard them... swinging the troll-hammer is easier then having a discussion.

Also please work on your reading comprehension and read that news article again... an DNM exit-scamming has nothing to do with Monero at all... would be the same as if you blamed bitcoin for Mt.Gox. Try harder next time pls.

On ZCash most things are already discussed above and i agree.

Thanks for this great info

Don't think its possible to figure it out now. It depends on the total Hashrate and now idea how good their GPU miner is.

I bought some Hash because I have no rigs and don't want to miss out on this and I have some free money from altcoin pumps this year. You get daily payouts and in the first weeks there will be a hell of a bubble in price. Don't hold it for 1 year. ZCash futures are already over $80 on bitmex. There will only be some thousand of coins on the market and the demand is very high.

Imagine latest ICO coins fomo with millions of premined coins and think about what the ZCash fomo will do with an higher demand with only maybe 20k coins in the first days.

It could hit BTC parity  

If you want to buy Zcash and hold it longterm you have to wait several months for inflation or some FUD. Mining is the only way to profit early here.

Is their any way to figure out a rough estimate of how many coins I would expect to receive by buying one of these contracts at the end of the contract? For example their is a contract for 0.2H/s for $58.00 so I am trying to figure out how many coins I would have at the end of the one year contract.

Thanks

Yes. There are GPU mining contracts now available on genesis mining https://www.genesis-mining.com/a/518305
Zeropond also said they have a GPU miner but its already sold out.

Is there any info about mining? Is it going to be CPU-mineable? Is there a GPU advantage over CPU?

Is there going to be GPU mining for zcash?

For the moment you can only mine test coins. Mining real coins will be available after launch (on the 28th of October). There also is a contest for writing an open-source miner http://zcashminers.org.

Come on .... (you monero shills always badmouthing - and trolling each and every coin as : "we are sooo much better BS")
how about your exit scam ?
how is that going  

https://www.cointelegraph.com/news/monero-loses-darknet-market-in-apparent-exit-scam

This IMO is the coin to be mining.

Does anyone know of any zCash miming pools?

The project was started well over a year ago, and we've been quietly working on writing code, not self-promotion.  We just finished our first beta release last week.


For the first release, blocks are assembled by a small group of permissioned witnesses, but the blocks are checked by all nodes on the system, so blocks that are invalid or attempt to revert cleared transactions are not accepted by the network.  In that sense, it is just as decentralized as any other currency.  In the future, we will implement permissionless proof-of-stake and the ability to scale to thousands of witnesses.  In addition anyone will be able to set up their own public or private blockchain with transactions seamlessly routed across blockchains from source to destination.

Proof-of-work blockchains are slow and have no finality guarantee.  We are also not convinced proof-of-work is secure in any new cryptocurrency that does not have the hash power of bitcoin behind it.  For those reasons, we architected CredaCash to start with permissioned witnesses with an eventual migration to permissionless proof-of-stake and multiple interlinked blockchains.  We believe the speed and finality will provide big advantages in the long run as the currency becomes more widely used.

We currently have a beta release with a Windows binary on our website CredaCash.com and source code on GitHub.