ZenCash is going to be pretty amazing. It's not going have any overly exiting features, neither will it have huge partnerships. But it will exist in its league of its own. A giant super cluster of over 12.000 nodes, which can be forced to carry out a huge amount of computational tasks for rewards. Along with a treasury funding model, governed through a DAO.
ZenCash resembles somewhat of a decentralized digital nation state. It will have enough networks to exist entirely on its own without disruption. It's treasury could fund any means to an end . From buying land, real estate, businesses lobbying politicians without any direct accountability or trace of payment. And as long people tie any worth whatsoever to the ZenCash the reward structure will draw in people at any price through ROI. Unironically it may become the biggest self sustaining and absolutely unfairly distributed Ponzi in history. Also...offshore banking.
Any early early node holders will become the next digital "oil rich" generation. You will be owning digital plot of a decentralized nation state, and will be directly collecting taxes daily.
Forget about muh fundamentals. Look at the economics and financial incentives.
> Accredited investor only: *An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).
Shit, forgot to name fag myself. But apparently nobody gives a fuck about Zen anymore. Even after almost getting justed on my 35 nodes I still bought back in before this pump. I hope the silence means you are all accumulating too. Welcoming any 51% attack misunderstandings I can dispel.
I am going to dedicate some hours to saging this thread while I am working on my business plan next to it. Some people here will probably be a little concerned about the 51% attack; which indeed was pretty awful. But within a week (probably this weekend) a new whitepaper is coming out detailing a consensus mechanism which has already been proven to be 51% proof by another project. In the future, a 51% attack can't happen, and it's only people like Teeka who sell off their funds in panic after a staggering 16% in profits. Two weeks before the biggest fund in Crypto (GBTC) announces their support and ETF style investment vehicle for ZenCash.
Lets discuss token economics and token economics only. ZenCash currently has a circulation of 4 million coins. Which is restricted by 15-20% due to node holders, placing it in the top 3 by scarcity. Furthermore, the current reward scheme and avg. amount of added nodes restricts the monthly minted supply by about 40%. On July 19 a new fork for supernodes will flip online and restrict minted supply from PoW even more (~70%). After this, all we need is a push every now and then to flip us over to a deficit of monthly available ZEN. Considering it will take at least 1 year for any node to ROI at any price (0.1$ per zen or 100$ per zen), once the real FOMO kicks in we may see the deficit grow much higher than 100% (200-300%). Taking into account the small amount of Zen in circulation, this creates potential for us go parabolic unless the majority of node holders for any given 3 month period are looking to liquidate their nodes before the 1 year mark. GBTC does have a minimum 1 year hold on any investment made.....so.
Only brainlets or newfags don't see the potential here OP (hint: darkcoin aka dash). You don't need to shill this project every day on Jow Forums, constant shilling here is bad for long-term imo let these brainlets keep shilling their low-tier scam coins like link, req, verge, nano, tron and let them buy our bags when Zencash pull a 10x or more. I've been accumulating Zencash for the last 8 months and I will proud owner of 4 or 5 supernodes. I'm planning to take profits when the next halving happens, that will be in middle 2020.
Matthew Ross
Nigger.
Kevin Torres
I am shilling it because I think some of those people may start to understand and see the other side of the coin that is Crypto. With Zen there is something different at play, you're not just buying a coin to proof the grater fool theory right. You are establishing yourself as a part of a network and earning from its global eco-system.
Great experiment, time will tell whether it is sustainable. And who gets in now will make it hugely beyond expectations in case it does sustain itself.
I can't imagine what this board will be like if just 1/4 is invested in a node. There would be so much money to utilize. In the long run we'd all have enough money to make Jow Forums into a board where people constantly have cash flow to actually create businesses. Perhaps even in such an excess that Jow Forums could fund no-coiners and start a era of user funded crypto Jow Forums VC's.
One can hope right? Congrats on your 4-5 nodes, I actually got a job for once to try and get to my fourth one.
Sitting at 300 trying to aim for 500 for a supernode.
David Wilson
If I buy a supernode (1000 zencash?) how much will I be getting a month?
Nathan Russell
You need 500 ZEN for a supernode. It possible to guesstimate monthly payouts a little (they come daily tho). Right now we have 12000 active nodes, if 50% of them switches to being Supernodes we would have 508
ZEN @ 10$ = 425$/month ZEN @ 20$ = 830$/month ZEN @ 30$ = 1255$/month ZEN @ 40$ = 1700$/month ZEN @ 50$ = 2100$/month
Chances are we will have much less than 50% for the first few months (more likely 20-30%). Since supernodes restrict the supply, each added supernode will also compound the momentum grow of ZenCash price (until some equilibrium is reached). ROI is anywhere from 50-100% over any given year at current guestimate: supernodes.lebre.net
Changing the parameters which would apply to the current Z9, and hoping Bitmain is not able to adjust their miners. But then again we have FPGA cards coming, which can easily adapt to any such changes and are more powerful than GPU's. You cannot kick out FPGA's. In the long term ZEN is looking to switch to a different (Zen native) ZK-Snark algorithm, perhaps then all Asics could get BTFO.
Isaiah Cook
I know this, fork it and I'll mine it.
Noah Long
well, see you mining Zen after July 19 then! (when PoW difficulty will increase by 18% also.....)
difficulty will decrease to less than half current amount after asics kicked.
Anthony King
PS. Barry Sillbert's fund (DGC) is a subsidiary of Grayscale investments (GBTC). DGC/GBTC also owns Coindesk. So the news about both DGC and GBTC having deep Zen pockets is pretty big. We'll no doubt see Coindesk shilling it non stop soon (like they also do with ZCash)
> Another altcoin that had a very good Thursday was Zencash. It’s bounced back from a recent 51% attack, jumping 17% off the news that Grayscale, led by Barry Silbert, will be making the coin its ninth investment. The group’s portfolios start at $400k, rising to over $1.2 million for bitcoin core. The Grayscale news helped the price of ZEN soar, but the more important story was the new whitepaper the team released on Thursday, which has implications for all Proof of Work coins.
ok too bad, I hope you are all either accumulating and hating on me shilling this or don't understand how huge this will be. All the big VC's are in, Coindesk is owned by two of them, Ver is shilling it from his news outlet, Hoskinson bought, IOHK is cooperating on development. I'll be back with a better thread tomorrow, time to finish some real live tangible Jow Forums and let this thread die.
I got one secure node because i saw threads bout it here before the whole 51% attack. Nowhere near enough funds to get a super node though.
Jackson Bell
Been shilling it since late March, too bad the 51% attack happened but its clear skies from here on out. Good luck user, a single secure node will make some decent monthly returns through the cycles.
Dominic Russell
How do I set them up?
Henry Price
ZenCash is going to be pretty amazing. It's not going have any overly exiting features, neither will it have huge partnerships. But it will exist in its league of its own. A giant super cluster of over 12.000 nodes, which can be forced to carry out a huge amount of computational tasks for rewards. Along with a treasury funding model, governed through a DAO.
ZenCash resembles somewhat of a decentralized digital nation state. It will have enough networks to exist entirely on its own without disruption. It's treasury could fund any means to an end . From buying land, real estate, businesses lobbying politicians without any direct accountability or trace of payment. And as long people tie any worth whatsoever to the ZenCash the reward structure will draw in people at any price through ROI. Unironically it may become the biggest self sustaining and absolutely unfairly distributed Ponzi in history. Also...offshore banking.
Any early early node holders will become the next digital "oil rich" generation. You will be owning digital plot of a decentralized nation state, and will be directly collecting taxes daily.
Forget about muh fundamentals. Look at the economics and financial incentives.
Josiah Peterson
30-100% ROI at any current investment on a node once rewards are changed in July)
> Accredited investor only: *An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).
Buy a super node now, earn passive income aking to basic income in a month from now. If this ever goes 100$+ in the medium term (6 months), you'll be set for life. As said in the OP, this is pretty much a self-sustaining ponzi, which if works out correctly will never stop.
No greater fools game because people sell rewards instead of their nodes. Many more breadcrumbs in this thread about the awesomeness of being a supernode operator.
I agree, It does, but maybe because we are very early. You can compare it by looking at a snapshot of DASH. Only two years ago a single DASH masternode would have cost you 8000$. Today the same masternode costs 260$k and pays out 7-8% (18$-20$k/yr). ZenCash is a direct competitor to DASH. IOHK which is working on ZenCash's governance and treasury model even produced a 50 page research paper targeting the flaws in DASH (iohk.io/research/papers/#NSJ554WR).
ZenCash aims to not just become a platform but a eco(n)-system, they are actively looking at ways to further restrict the supply and make it more attractive to run a node than to sell one, even at huge gains. There will be somewhat of a collateral and P2P lending system (think MakerDAO) and very likely treasury funded investments which produce value back to the ZenCash eco(n)-system. It's a great experiment, honestly the best crypto project around in my opinion. There is very little reason for real world adoption because the value is generated within the system. Whether it will pay off, yeah idk. "Too good to be true" does apply, but lets dream big.
Once more people set up node the ROI will go down obviously, but for early adopters it is offset by the (probable) price rise.
As for now, the payouts in the first few months will be ridiculous because so little people are invested in this compared to so many shit coins. Once people do see payouts others are getting then the real FOMO will kick in. There's still quite some time to accumulate.
Smartest thing you can do, the fud timing is with us
Thomas Ward
miners would help protection from the next 51% attack................
Asher Hall
Seems like a nightmare to setup.
Carson Myers
How do you setup a superbode idiot proof? Can you run multiple supernodes or secure nodes on 1 computer?
Jayden Barnes
this is the ultimate sleeper coin, privacy coins are super important.
Jace Edwards
too justed for a supernode rn is a securenode even worth the hassle?
Noah Hughes
>coin gets "hacked" >"the future is amazing I promise!!"
Xavier Robinson
well, it is the second most popular equihash algorithm consistently. Ranked 28th in mcap if you filter by mineable coins only. Not THAT bad.
Trust me, it is. I went through setting up 40+, but once you get the hang of it.... On average 300-400 nodes are added weekly, definitely not impossible.
There are some services which do the setup and hosting for you at 6-8$/month. ZEN stays in your own wallet, can be a ledger nano s or paper wallet.
You need to rent a VPS, set up a SSL certificate, sync the chain, run the node and set your staking wallet. Not all that easy, but manageable. You will need 1 IP per node, although you can split IPV4/IPV5 on two users on VPS most use one VPS per node. If this sounds like a headache, just go on discord or Google for managed ZEN node hosting. Its not much more expensive than running your own node.
I meant ASICS would help making attacks expensive. Why do they try to prevent asics?
Benjamin Baker
It certainly fucking is and if you're too blind to see it then you deserve poverty.
Noah Robinson
Their team is not fundamentally anti-asic, but they are taking the stance that ASIC's are entering the market too quickly and from too few manufacturers, that for now the best decision is to slow them down. They will keep the Equihash algorithm, there will only be a memory tweak (as a possible option detailed in the Equihash whitepaper 2 years ago). In the long term they are looking to work on their own algorithm, possible changes to prevent ASIC's where discussed. Not sure if they will make it live.
One thing to note is that one of their founders runs one of the larger (or largest idk) GPU mining operations in North America, so they do know their shit and are well connected within the mining community. blockoperations.com/about/
Nathan Powell
They are retarded. fucking with ASIC producers is a surefire way to prevent other producers from competing with the existing ones.
Blake Hall
You are not wrong, I brought up the same thing in discord. ASIC's are the natural technical evolution by moore's law. You don't get seamlessly from point A to B by hindering evolution, but of course they are also catering to disgruntled GPU miners in their community.
But it is not me making those decisions, and I am not a miner either. I am way more interested in the underlying token economics, which are quite fascinating. Pretty sure I laid that all out in this thread.
Angel Williams
You're a good guy. Visionary pushing humanity forward. When we all make it, you're invited to a remote hotspring in the mountains of Japan for the biz hentai orgy.
Samuel Nguyen
I've been semi-casual mining ZEN with the gaming computers in my house since late January. I should hit 42+1 zen by the end of the month, right in time for the payout increases, and the mining rewards to decrease.
Can you point me to a reputable website where they do 6-8$ hosting. The only ones are 10$+
Liam Rogers
>You're a good guy. Visionary pushing humanity forward. When we all make it, you're invited to a remote hotspring in the mountains of Japan for the biz hentai orgy.
thanks, I appreciate user. Despite of the divide I wan't us all to make it, or at least half.. And hell yeah I am up for hentai Jow Forums orgies. I'll be getting drunk on sake with mountain monkeys.
Best to go on discord, there are some hosts throwing offers around in the node channel, just ask them. Thesecurenodes is decent. They list 11$ on their website but have seen people get hosted at ~8$ discounted through discord.
I just bought 1500 zen, so I have enough for 3 supernodes.
Do you recommend me to stake right now using one of the services : chainsaw or securenode or should I wait until supernode staking is released next month.
Also if I choose for secure node staking , can I leave all 1500 zen in the same wallet or do I have to create 35 seperate ones of 42 each?
Thanks a lot
Elijah Ramirez
Also what is the current payout in zen for secure nodes each month approx?
James King
Also what is preventing ZEN from being double attacked again by the same group of hackers since they have yet to implement the new consesus rules??
Wyatt Price
Nice user, welcome to the club!
> Do you recommend me to stake right now
In between now and July you would earn approximately 0.71~ ZEN per day. In a bear trend on BTC I would say that it's certainly nice to get some extra compounded profit.
> chainsaw or securenode
Thesecurenodes, make sure to ask for a discount they are good hosts and will take care of the fork also.
Once we fork it will be almost 3x that. There is a calculator for both the current payout and the new payout. Just enter the values from the node tracker (12.000 nodes online).
Tweak around, 20-30% of the current secure node likely convert to supernodes, so you have a guestimate. > can I leave all 1500 zen in the same wallet or do I have to create 35 seperate ones of 42 each?
You need to place them all in separate wallets, you can put them on a ledger also that way (or Arizen, Swing or paper wallet).
Right now all exchanges have a very high TX requirement. One would have to privately mine 150 blocks (5-7 hours) instead the 12 which were required at the time the double spend on Binance occurred, that makes it almost unfeasible. Next to that, both ZEN and exchanges are watching out. Because Binance did lose half a million $ on the double spend attack, and no exchange wants to go through something similar.
Some of them will, right now I saw that the securenode will support supernodes
Jason Robinson
>. You will need 1 IP per node, although you can split IPV4/IPV5 on two users nice tip. i might try this to cut costs in half. am already running on 2gb node instead of 4gb but it fails a lot of checks for taking too long lol so it dings the payouts
Joshua Rogers
Bookmarked, thx! I'll share this in future threads. And I do believe most will/should be able to support supernode hosting once the fork happens. It is a mandatory upgrade, and obviously hosts would also benefit from supernodes.
Time for me to sleep now, spend the entire day shilling this while working out some business plan. Quite a productive day, I hope I helped some see the value this project holds. Peace out! (for now)
Maybe, but they'll halve the Challenge Time required from 300s to 150s. This means that most of these providers won't be able to cut it? Some probably will if they don't overload their servers to stay within 150s and others will probably have to get more dedicated servers and thus increase their service prices.
I should probably ask around Discord and maybe talk to some of those guys about their plans for supernode offerings.
Andrew Nelson
What makes 50 - 100 % ROI a guarantee?
Blake Ross
Thanks user
Landon Robinson
I'm a GPU miner and I agree with this
John Cook
I am somewhat sure they will deal with the necessary requirements and and more expensive tiered hosting plans for supernodes.
Right now its 100% over the amount of ZEN you purchased not the fiat value tied to it. You can calculate it by the amount of node holders and the possible amount of nodes which potentially could convert to a supernode. The fairest guesstimate was 50/50 I figured which gets you 100% ROI. Meaning if you have a supernode and run it for a year you get back exactly 500 ZEN.
But if the ZEN dollar value goes down any amount after you purchase a node then the dollar ROI will be lessened. We also do not know how many nodes will added in the first 12 months of supernode implementation or at which rate. So its impossible to say how rewards would deviate from the 100%. But this is painting a fairly pessimistic picture. ZEN might just go up in price by a lot and this may make nodes too expensive to purchase for an average investor during x cycle. The estimate of total super/secure nodes in the whitepaper were 2.5k/25k I believe.
np.
Jace Jenkins
great thread user. quality content
Anthony White
Sorry user but this shit is toast. Even Teeka says to sell. That 51% hack is a bad omen of what is to come. If zencash does go up in price it will only become a bigger target. It only cost the hacker 30k an hour to break it. Even with the new changes this coin is just a giant target.
Tyler Gonzalez
> Even Teeka says to sell.
Some random guy with average track record peddling $2k newsletters told his subscribers to sell
> That 51% hack is a bad omen of what is to come.
*51% attack
Something like a 51% "hack" does not exist. It is the exploitation of a chain by someone with enough hash power to steal from an exchange, by faking a payment. Teeka not being able to understand the different between a hack and a 51% attack is very telling.
> If zencash does go up in price it will only become a bigger target.
Currently impossible to execute due to tx requirements. Further concensus mechanism to 51% proof all PoW coins is planned:
> Even with the new changes this coin is just a giant target.
*impossible target
You really think the SEC lets a 2.2$ billion dollar fund create ETF's for a vulnerable Cryptocurrency? They would stand to lose both their license and reputation. It's not like they pick any shitcoin.
Joshua Thompson
It was "impossible" to hack before but whoops looks like they were wrong. Trust is dead fren.
Henry Green
A 51% "attack" has never been impossible. And nobody would claim something like that.
By Satoshi's consensus design it is an open attack vector.
You fuckers can argue semantics with me if it makes you feel better. It wont change what happened. Who is going to trust a project that has been proven to be insecure.
then what the fuck are you doing in Crypto? The mechanism which was exploited comes from Bitcoin. If a 51% equals proven insecurity, it should be with any other Cryptocurrency as well.
Easton Butler
Yea but bitcoin didnt get robbed and zencash did. And it will probably get robbed again. You should find a better project.
Joshua Foster
isn't this a security?
Jason Ortiz
There have been more double spends with Bitcoin than there have been with ZenCash. Stop trying to argue about stuff you don't understand.
