Although I like the z.cash project I wonder what makes this solution better than monero’s enhanced cryptonote solution or shadowcash 2 token solution.
Shadowcoin has implemented their own NIZK (Non-Interactive Zero Knowledge) on top of cryptoNote and did some enhancements like implementing a new proof of stake algorithm successfully, which reduced their block size effectively with 40%.
I don’t now if monero was able to implement this, or maybe even it’s not feasible because other internal workings ??
I dunno the exact details about what they call NIZK, but would like to know how they claim to have this accomplished and what are the differences with z.cash techniques …
I know there was much controversy around shadowcash community but can’t blame them all …
I’m not affiliated with them although I bought some shadow yesterday to ride the wave currently (hopefully) to make some quick buck.
Many folks say POS can’t beat POW and prefere monero but what are actually the differences between these three coins?
Some crypto expert should give us some in depth but understandable comparison I think.
The things that concerned me a little about z.cash (and probably investors too as I can see) is that it still has few issues like :
They still need public parameters to construct the first proof (a one time centralized trustee)
Creating transaction outputs afterwards take up to 1min and are very cpu intensive
Those are the same things I heard while back with zerocoin and now I hear them again in the talk above which seems to be recently recorded.
On the other hand they effectively reduced the transaction size which sounds good.
For non mathematicians it’s a pure guess to choose between the techniques and this certainly doesn’t feel good.
So when reading zero knowledge I can feel the problem they’re trying to solve
Well, zcash is just in its infancy, I think, while monero is already a little bugger? My feeling tells me that zcash will be better eventually, or their new algorithms and methods will be more useful and secure in the long term. But thats just a feeling I get when I compare fluffypony and the monero team to zooko and the zcash team. The latter to me seem to be more knowledgable about all things crypto. Just a feeling though.
I’m glad there are a lot of different approaches, cause all of them will be attacked quite severely, and some will just fail eventually, like tor is doing atm.
Oh and I forgot - Page Peterson is working with them.
So two guys building a zcash cloud mining service just sold mining contracts worth 400 bitcoin within 30 minutes. Why am I always too late when I think it’s gonna be fine, and when I feel rushed theres no reason to (bttf)???
I’m unsure. I’ve been lurking the z.cash forum for a couple weeks now and it’s really unclear to me where to invest in, if at all. There is a huge competition going on between cloud mining, private mining and individual entities and their proprietary mining software, and then there’s various open source miners.
All those miners are basically in alpha/beta stages and you can see huge improvements within days/weeks for each.
Then there’s the general problem of cloud mining services - most are fraudulent, if you ask me (in general, not specific to any coin). They charge way too much for their hashing power, which can easily be proven with some simple mining calculators. But they still offer it, so thats pretty shady, imo.
What do you think? I have the feeling that I don’t know enough yet to make an informed decision…
/edit @Runswick@Jabba I just saw you talked about it in the other thread. Shall we move over here or make a completely new thread?
I’ve only just found the pitch on BttF, so haven’t had time to look into it. I’ve been interested in Zcash since I first learned about it. I also have some familiarity with BnktotheFuture since the MaidSafe fundraiser. The coming together of these two has me very interested. I guess, because of their reputation, that BttF would put together a reasonably valued proposal. I suppose I’d be foolish to bnk on it without any due diligence though!
I like Zcash’s privacy, but I remember seeing shortcomings when I learned about it. I think it has enough to become popular and last into the medium-term. If it can adapt as time passes it could continue into the long-term I feel…
Ha, none of us really make many very informed decisions, we all just fumble and guess using our intuition and whatever bit of rationale we want to pick out of the air at the time
I wouldn’t sweat it too much. If you have money that you can afford to lose and like a punt then you’d be in pretty good company in the early Zcash boat. I don’t really care if I get the absolute best vfm (although BttF say they are it via genesis). If you were mining eth on day 1 you made a lot, regardless of how efficient your mining was.
Anyway, you know what I think. I didn’t have a huge amount of BTC left, but what I had I stuck in for the ride. It seems like a good bet from my very limited perspective. I’m surprised it didn’t sell out in a few hours like most of the other ones that I’ve seen over the last 6 weeks. Zeropond sold out in 5 hours despite blocking US citizens. I suppose having to be a ‘qualifying’ investor on BttF does put a fair few off. Still, seems like an obvious bet to me. I guess it will be exciting on 28th Oct to find out with that first dividend, it could be pretty obvious whether it was a good or bad idea… should make for cheap thrill, and it also happens to be my birthday so it will give me something more exciting than socks and booze to look forward to opening lolz
There’s a post by Simon on the forum that says the pitch is closed, it’s on 104% because there were quite a few people that invested in the final minute.
Genesis tripled their h/s for all contracts post 13th oct as far as i know… they probably did not update that on the sales page since they were sold out anyway.
I think they work out about the same, or at least the difference seems to not be worth worrying about to me.
Everyone keeps changing their spec so fast it’s barely worth checking at this stage Zeropond also kept upping theirs because Genesis was cheaper. At the end of the day they are all competing and need to offer reasonable value so I’m not overly worried myself. I’m just glad to get in on it really.
Same here, curious to see how this market is going to develop. Slow start should create some interesting dynamics. Offer might end up being very profitable or the exact opposite, lots of uncertainties. Let’s see!
Jabba’s right, it’s crazy. It’s a real gamble at this point.
GM offer 46/h, bnk 43 but bnk uses GM exclusively.
@bones I think ppl who are a bit experienced in mining will go for solomining with pools one way or another, if their maintenance is low enough. I pay like 17 cents per kwh or something, and don’t have the best connection either. So it’s quite expensive for me.
on it without any due diligence though!