I’m a ‘buy the story’ kind of guy. I’m not investing to try to make a modest profit in the short term, I’m covering bases for the coming explosions. Most will fail and cost me money, hopefully others will just keep on going and in a few years my patience/stubbornness will pay off. That’s the plan anyway. I just need one of many things to be a long(ish) term success. If several are then I might get very lucky.
I must confess, I didn’t know about the slow start. That has put a dampener on my mood. I’m not sure why they’d want to even things out for slower adopters, it seems a bit silly tbh, but hey ho, I’m along for the ride anyway.
I’m with you, normally. In this case I’m not sure; barely any supply in the first few weeks with a considerable amount of hype/demand has the potential to send the price sky high initially. After about a month (I think) we’ll be mining blocks with the max reward, thus have a fair bit of inflation. So my reasoning would be to sell off most of the early mined coins to recoup a part of my investment and than let it ride after that. All assumptions here obviously as we haven’t really seen any other coin being released like this.
You could well have a point, with slow start the initial supply will be tiny, but i reckon it’ll be too illiquid even to get on any exchanges apart from futures markets until it’s is well into second month, maybe third? I’m just guessing ofc, but I doubt any big exchanges will go adding a new coin with just a couple of coins in the whole sell book… I have nothing to base that on though really, this is new ground we’re breaking
Who knows, but it feels safer to hold for utility, that should give most sustained growth imo, and it should still way outpace supply shouldn’t it? Hmmm, I’m not at all sure, but I still like the idea of accumulating things with potential, so I’ll stick with what I know
You’re probably right about that. Although I wouldn’t be surprised if some exchange(s) start offering it earlier, first mover advantage. Bitmex is already offering futures, going for 0.2 btc (!!!) a pop.
Yeah, i really don’t have any qualification for my guesses, but I still have to make decisions what to invest in… it feels less good now I know about ‘slow start’ but given everyone is shackled by that I’m still feeling positive. Hopefully slow start will make liquidity such a big issue that no one will know or care much about it at launch because no one has any of it, it could have the opposite of the intended effect, so a month in effectively becomes like the launch date for most people anyway?!
I chucked every spare btc I have at it this morning.
It has huge potential for sure… no pre mine, no sellers, just lots of demand. I reckon the mining difficulty will just keep rocketing along with price, so mining in those first couple of weeks could be pretty huge.
The miners will mine whatever is most profitable. I’m just betting that the price will go up pretty constantly, so stuff mined early will be worth much more later. There is no other way to acquire other than mining, so I don’t think it could be a ‘lose’ - miners won’t sell at a loss. Although it could well be a less favourable investment than just holding btc.
I guess it just depends whether you think the price will keep going up through 2017 if it works. I think it will, it has a good recipe for success… it’s no safenet, but it’s still pretty cool imo.
From what I understand, there’ll be a linear increase in block reward over the first few weeks until the max block reward has been reached.
Unless there’s a high price at first it wouldn’t make a lot of sense for miners to switch to mining zec. So yeah I expect a similar situation, where mining interest only really gets sparked when either the price is high enough or the block rewards are at a higher rate. Of course there’s always the speculators mining at a loss.
What do you mean by shackled? A simple translation leaves me clueless.
The decision to make a slow start was made quite some time ago, so it’s not new.
Shackled as in we’re all held back by the same lower mining rewards.
Yes, I just wasn’t aware of the slow start until today, it’s just new to me, and I don’t really like the idea or agree with it. There will be loads of miners from day 1, lots of solo miners and pools are geared up, the price is already high with pre selling it just seems unnecessary and I don’t like it because it means I’ll be getting less Z cash for the first 5000 blocks (think it’s 2 months, but not certain). I’d rather day 1 miners got more reward for the risk of mining something that could fail after a few weeks.
Ah, I see. Well, it’s pretty egalitarian, if you ask me, so I do agree with it. It’s roughly 30 days, iirc.
Theres more to consider, too. Did you know that there is a problem with trust regarding the genesis block? Basically, it’s impossible to prove cryptographically, that the secret that is necessary for the generation of the genesis block, wasn’t compromised/ stored for later use. Having the secret means unlimited amounts of zcash with noone ever being able to prove it.
So what that means is, you need to trust the people that provide the secret. It’s six ppl, I believe, who each hold a part of the secret. Each of them promises to destroy their part of the secret after it was used to generate the genesis block. If only one of them is honest, the secret is basically destroyed. If, however, all participants lie, or they got compromised in one way or another, well…
Zcash will begin mining on October 28, 2016. There has been no indication yet as to which markets may list ZEC after this date. Furthermore, ZEC mining will have a slow start, with the block reward linearly increasing from 0 to 12.5 ZEC over the first 20,000 blocks (approximately 34 days).
Because of this difficulty to source ZEC, it may delay listing on a spot exchange. As such, BitMEX will choose a reference exchange by December 1, 2016 based on liquidity and reputation.
Contingency Plan
If there does not happen to be any spot trading at all for ZEC by December 30, 2016 then BitMEX will settle the contract at the Bitcoin equivalent price raised in the last round of investment.
Half a BTC per ZEC?? That’s like real money . BttF is indeed open again, it gives you hashing power for 1 year if I’m correct. Don’t know if it’s profitable, I guess a lot of other folks mine this coin as well.
They talk about 20% mining reward for the founders. That’s quite some money as well then. I guess that’s limited in time?
But the difference with Bitcoin is the fact that you can’t see how many coins people have or transact? Or are there other features?
. BttF is indeed open again, it gives you hashing power for 