Kool Guy
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Hey folks! I don’t even have time to write complete replies in here, much less read all of these hundreds of messages. :-{ I hope that someone is somehow boiling down the major sentiments and ideas for me and others to use. Maybe the Zcash Foundation’s voting protocol will serve for that purpose. Not sure. Just jumping in here to say two things: I’m really chagrined that I let it sound like we were committing to a social contract of ongoing ASIC-resistance. That is absolutely never what I had intended to commit to, because (a) I always thought that it would probably become impossible long-term, and (b) I always believed that there was a fundamental trade-off between widespread distribution of the coins on one hand, and miners having a large sunk-cost investment into the coin on the other hand, and that the latter might eventually prove to be valuable for attack-resistance and network stability. (I still believe both of these things: even if ASIC-resistance is possible this year and next year, it will almost certainly become impossible given enough scale and enough years. And: distributing coins widely with a commodity PoW is fundamentally incompatible with locking miners into a sunk-cost-investment incentive-alignment with custom PoW, and the latter has advantages that might eventually prove to be important.) But, I allowed ZcashCo’s public statements to let people jump to that conclusion (i.e. we stated that our motivation was widespread distribution of the coins and the mining, which allowed people to reasonably assume that this was a long-term principle rather than a temporary strategy), and I have to take responsibility for that and if possible to try to honor what people thought. I’ve been trying to educate myself about the state of cryptocurrency mining. I’m getting in touch with various big mining operations to try to understand their economics. I’m also learning about energy production (direct contracts with plants instead of sucking from the grid, renewables, etc.). One major unanswered question in my mind is: suppose you have a large, profitable GPU-mining farm. Why don’t you reinvest all your profits in scaling it up? In other words, why haven’t professional, large-scale GPU-mining operations already driven small-time miners out of business? One thing I’ve learned along the way is that GPU mining is absolutely essential to Zcashers in Venezuela. If Venezuelans try to import ASIC miners (i.e. for Bitcoin, currently), then they risk having the miners stolen or extorted by the army which controls all imports. GPUs are not (yet?) nabbed on import like that, and anyway there are a lot more GPUs already floating around inside Venezuela. This really goes to the point that Simon has made a few times in this thread, that custom mining hardware is more vulnerable to special treatment by authorities. Oh, bottom-line, by the way, is that I’m basically still in the same place now that I was four years ago when we first decided to go for widespread-distribution-of-coins at the expense of sunk-cost-incentive-alignment. I still think that widespread-distribution-of-coins is more important (but I still think that it can’t last forever, and that the other side of the trade-off may also prove to be important).

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Coincheck подтвердила делистинг Monero, Dash и Zcash Ведущая биткоин-биржа Японии Coincheck подтвердила предстоящее снятие с торгов ориентированных на повышеннную приватность пользователей криптовалют Monero, Dash и Zcash.

What Sapling Brings & Why it MattersSapling is a massive improvement to Zcash and any Zcash fork who activates it, with incredible fundamental changes that improve efficiency, security and privacy for users.Faster Shielded TransactionsThe primary purpose of Sapling is to improve the efficiency of constructing zk-SNARKS, these Zero Knowledge Proofs necessary in performing the privacy functionality which sets Zcash and forked projects apart.Presently, for a fast computer with decent memory and resources, it can take up to several minutes to construct the Zero Knowledge Proofs…the zk-SNARKS. It’s a highly intensive computational process and requires quite a bit of RAM, often over 3GB, to perform a single shielded transaction in generating the zk-SNARKS. Shielding a TX in <1 secondWith Sapling this time will be reduced exponentially, to just a few seconds in time…even as fast as under 1 second.This speed improvement comes at no cost to privacy, making Zcash capable of complete privacy and anonymity at performance comparable to other transparent non-encrypted blockchains.Resource Friendly, Performance ImprovedNot only is the process faster, the team have improved how it uses system resources such as RAM. With Sapling zk-SNARKS can be constructed and a shielded transaction performed with as little as 40MB of RAM utilization. Shielding a TX with 40MB RAMDropping from >3GB, this is one of the most outstanding performance upgrades and truly revolutionizes Shielded Transactions and what is now possible. First Ever: Mobile-Capable PrivacyFor the average user, this means it’s now possible to perform shielded transactions on a mobile device or a very low-resource computer. Mobile wallet providers and Exchanges, for example, will be able to implement full support of shielded addresses and transactions as a result.Having the capability to implement Shielded Transactions into mobile wallets is groundbreaking. Making this complex computation of proving accessible to mobile devices means a fully native zk-SNARKS encrypted cryptocurrency is now entirely possible. First Ever: IoT-Ready Privacyzk-SNARK performance at this level also presents the opportunity of shielded transactions within the IoT industry and using IoT hardware. Devices such as newer 64bit Raspberry Pi will be able to perform Zcash shielded transactions, bringing total privacy to IoT blockchain implementations.Not only does this present solutions for many of IoT Blockchain challenges, particularly surrounding security, it opens the door for countless encrypted privacy-based IoT Blockchain opportunities. Not only for IoT development projects, with zk-SNARKS fully capable on limited resource IoT devices, adoption within enterprises and governments is right around the corner.

✅ The big news of the day!🚀 Zuckerberg (creator of Facebook) has launched the long-awaited sale of his ♎️ Libra cryptocurrency for ordinary users. It will be used to transfer money within the Facebook and Telegram applications and to pay for goods in partner stores. Or simply sell on the stock exchange and exchange it for dollars. 🚀 One token cost 0.08$ now. The price will increase as the tokens run out. Most likely, within a couple of days, the price will be fixed at the level of $10-15 per one ♎️ Libra token. ✅ Official website is

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