Yes
Zcash Co-Founder Proposes Redirecting 8% of Block Subsidies to Network Sustainability Mechanism
Zcash co-founder and protocol developer Sean Bowe has submitted a draft Zcash Improvement Proposal (ZIP) to end the 8% block subsidy allocation to Zcash Community Grants (ZCG) and ork Sustainability Mechanism (NSM), withholding the funds from immediate circulation.
The proposal argues that ZCG's existing reserves are sufficient to sustain its grant-making activities. It would leave ZCG's existing treasury, the separate 12% Coinholder-Controlled Fund allocation, miners' subsidy share, and ZEC's maximum supply unchanged.
0
0
2
42
PelicanInvasion retweeted
It's time to turn off the ZCG funding stream.
ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding.
Draft ZIP:
github.com/zcash/zips/blo…
ZCG has over $125M in funding, and will receive millions more before the spigot is turned off. The program was never designed to handle this amount of funding.
Draft ZIP:
github.com/zcash/zips/blo…
23
31
150
4,089
LFG
If you don't have a forum account please make one if you ou want to end taxation without representation
If you don't have a forum account please make one if you ou want to end taxation without representation
It's time to phase out ZCG.
Coinholder money should be coinholder controlled.
forum.zcashcommunity.com/t/end-zcg-and-…
1
2
8
362
Here you go @zectrillionaire
Go thru the pain of making a 1990s forum account, post 5 times about your favorite music so you can earn the right to "discuss in public"
Patriotic duty
Go thru the pain of making a 1990s forum account, post 5 times about your favorite music so you can earn the right to "discuss in public"
Patriotic duty
0
0
2
36
PelicanInvasion retweeted
ZCG = Zcash Communist Grants
End it
End it
This needs to be hammered home so hard
10s to 100s of millions in today's money spent on ZSAs
Self dealing with people on ZCAP or ZCG getting huge checks
Then degen sex conferences
ZCG has to go - no more self dealing & taxation without representation
0
3
11
567
Would be great to have @zooko weigh in publicly on the record instead of passive aggressive/behind the scenes politicking
Zcash Community Grants has an abysmal record.
1) QEDIT - ZSAs which were voted down.
- ZCG is still funding this. Graft.
2) Hanh - good work but god is the UX awful.
3) Airdrops for Awa and Adrian’s PoS projects that went to zero. Zooko publically backed. $1.4M burned.
4) ut ok
5) Zingo Labs - Zookos brother - unseable code.
6) Nighthawk Wallet - went to zero.
7) Zcash documentary where Zooko primarily monologues. 1M how is that even possible.
8) Least Authority is black listed as an auditing firm by many. Zookos old company.
9) ZEChub - Wordpress site form 2000s
10) PGP - no opinion on policy
11) Zcash Brazil - lot of money would have to see deliverables
12) Sex trafficking
13) ZECwallet - Dead
Mostly misallocated capital if not graft.
1
1
10
598
@zooko @jswihart @aquietinvestor & whoever is around to rep ZCG - it's time to have this conversation publicly
We can't afford the grift any longer, it's gone too far
Taxation without representation is killing Zcash reputation
We can't afford the grift any longer, it's gone too far
Taxation without representation is killing Zcash reputation
2
0
4
205
This needs to be hammered home so hard
10s to 100s of millions in today's money spent on ZSAs
Self dealing with people on ZCAP or ZCG getting huge checks
Then degen sex conferences
ZCG has to go - no more self dealing & taxation without representation
10s to 100s of millions in today's money spent on ZSAs
Self dealing with people on ZCAP or ZCG getting huge checks
Then degen sex conferences
ZCG has to go - no more self dealing & taxation without representation
ZCG paid $5.76M over five years to build Zcash Shielded Assets (ZSAs).
Coinholders then voted 98.6% against them earlier this year.
What did ZCG do afterwards? Approve another $455K for ZSAs back in June.
Make it make sense.
0
0
13
829
You can still have a voice, just one with YOUR MONEY not mine
@maxdesallet@devanshmehtatroversy, let the community decide, and I'm all for it. But you need to understand that these 250 people have also been here from the very beginning. It was only this year that I recouped the money I'd invested in Zcash, back when you weren't even close to being here. And yes, I can afford to be unemployed for quite some time.
0
2
8
338
We have to end the back room politics around the ZCG funds
Money has a morality component & personal slush funds, favors, friends and sex parties by insiders enabled by taxation without representation kills our shot at becoming money
It's time to kill ZCG and donate funds to NSM
Money has a morality component & personal slush funds, favors, friends and sex parties by insiders enabled by taxation without representation kills our shot at becoming money
It's time to kill ZCG and donate funds to NSM
Zooko is forever in people’s DMs using them as tools.
Whenever you see inorganic posts like @hosseeb and @matthuang on why ZCAP is good you know its zooko.
Especially when they retract later out do embarrassment.
0
0
3
147
PelicanInvasion retweeted
What troubles me is this:
As the Zcash price rises, so does the power Zcash insiders hold over the protocol, not only directly because they hold more coins to be used in future coinvotes, but they have more money to spend to incentivize others to also vote for the devtax and run pro-devtax marketing.
It must be cut, immediately.
As the Zcash price rises, so does the power Zcash insiders hold over the protocol, not only directly because they hold more coins to be used in future coinvotes, but they have more money to spend to incentivize others to also vote for the devtax and run pro-devtax marketing.
It must be cut, immediately.
2
2
28
1,587
No more insider shell games with block reward money
No taxation without representation
No taxation without representation
It was @zooko that inspired this post pitting his insiders against new coin holders.
So these 200 insiders (ZCAP) set up a system where newcomers buy ZEC which funds the ZCG grants program for their pet projects, totally unaccountable to coinholders.
This needs to end asap. Time to dismantle ZCG.
2
2
12
432
PelicanInvasion retweeted
“In Zcash, you pay taxes but unemployed forum members get to vote on how your money is spent.”
Imagine a state where you pay taxes but don't get to vote on how it's spent.
That's Zcash today with ZCG.
Every block, coinholders are diluted to fund a committee they can’t elect.
Coinholder funds should be coinholder controlled.
8
6
78
6,381
PelicanInvasion retweeted
Here's the moral panic.
Zcash holders paid 580,000 dollars so that a group of weirdos can go to adult expo conventions.
Zcash holders paid 580,000 dollars so that a group of weirdos can go to adult expo conventions.
@zectrillionaire @yoshi_v1 I don't really understand the moral panic here. Seems kinda retarded.
4
2
48
1,251
PelicanInvasion retweeted
Everyone calm the fuck down
They've been doing retarded shit like this for a while.
Nothing stops this train.
Patriots in charge.
We're on the job.
Imagine your decentralized cryptocurrency fails because of some retarded degenerates.
Not happening.
ZCG will get nuked because of this
Devtax will be eliminated because of this
In the long-term net positive for Zcash.
And if it doesn't work.
ZCL exists.
They've been doing retarded shit like this for a while.
Nothing stops this train.
Patriots in charge.
We're on the job.
Imagine your decentralized cryptocurrency fails because of some retarded degenerates.
Not happening.
ZCG will get nuked because of this
Devtax will be eliminated because of this
In the long-term net positive for Zcash.
And if it doesn't work.
ZCL exists.
4
2
43
1,160