In a previous post I outlined all the marketing/scamming tricks used by the Zcash founders to keep people in the dark. Today is launch-day and the futures indicate a $596 price tag per coin! What most people don’t know is that the founders will take 20% of all coins in the first four years of mining. And that’s without mining themselves! Feel free to check this part of their website to see what I’m talking about:
At first, 50 ZEC will be created every ten minutes. 80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders. Every four years, the rate of ZEC being created will halve (again, just like in Bitcoin). After the first four years the ZEC created per ten minutes will drop to 25ⓩ, but after the first four years, 100% of it goes to the miners.
This text is literally from the Zcash website but you won’t find it on their frontpage. There’s no official Bitcointalk-page from the founders as well as it’s common to share details about pre-mining and rewards for devs/founders. Why are the devs/founders so silent about their rewards? Why is there no conversation about it on their forum? I made a screenshot of their forum so check it to see if you spot a topic about the 20% founder-reward. Here’s a link to their forum to see for yourself.
But let’s look at the future price for ZEC again as there’s still no live trading. The price is 0.84 BTC at the moment. That’s $596,47 per ZEC. How does this play out for the founders? There will be 50 new coins every 10 minutes. That’s 300 per hour or 7200 per day. At the current price that’s $4.2 million in value every single day. The devs take 20% of that, without mining themselves.
The Zcash founders make $858.916,6 per day at the current price.
They have their total investment back in several days and from that moment they make an extreem amount of money after they did everything to hide these details from the rest of the planet. If prices stay at this level the ZEC marketcap will be reach $1,5 billion in 12 months. The founders own 20% of that which adds up to a number of $313,5 million. And that’s not even all as they get 20% of all mined coins in the first 4 years. That’s right, there’s a piece of code in the mining part of the software that forces all miners to “give” 20% of rewards to the founders. They don’t have to mine it themselves.
Feel free to spread this article or ask the founders questions about the 20% on their forum, twitter or elsewhere. They won’t spread these details themselves as it would probably turn off a lot of excited tech people.
