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An impending funding crisis threatens Zcash

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Re: An impending funding crisis threatens Zcash

#11

Post by evian83 »

rolltiide wrote: post #8

This relies on - and takes advantage of - a lack of understanding on how these organizations are able to operate Drop all the currency terms and what you have is a product, a consumer good sold to the public that some employees are given. The employees are free to sell in parallel to the organization selling it. When that runs out the organization still has 100% share ownership So THEN it gets put on the same lower l…

"A new lawsuit is sorely testing the Zcash Founders Reward model"

https://www.finder.com.au/a-new-lawsuit-is-sorely-testing-th...

"Ex-Employee Sues Startup Behind Zcash for $2 Million Over Unpaid Stock"

https://www.coindesk.com/ex-employee-sues-startup-behind-zca...

Re: An impending funding crisis threatens Zcash

#12

Post by jonathankoren »

jarfil wrote: post #9
prepend wrote: post #3

It’s unclear to me how much should go to founders of things like currency. Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens? That seems unsustainable and part of the reason why a cutoff would be designed into the system. I’ve been through a lot of discussions around what a fair price is to pay for the devs of a community resource and I don’t th…

Creators of fiat currency call that the "price of money" or "interest rate", which right now is at around 2%, but running "community resources" sounds more like what a government does, with its 30% cut from taxes.

Yeah, it’s basically a tax, but a tax going to a private individual instead of an accountable organization controlled by the community.

Re: An impending funding crisis threatens Zcash

#13

Post by jonas21 »

prepend wrote: post #3

It’s unclear to me how much should go to founders of things like currency. Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens? That seems unsustainable and part of the reason why a cutoff would be designed into the system. I’ve been through a lot of discussions around what a fair price is to pay for the devs of a community resource and I don’t th…

> Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens?

A cut of future tokens is a kind of measure of value, isn't it? The more value the developers produce in terms of building a useful token, the more that cut of the tokens will be worth.

Re: An impending funding crisis threatens Zcash

#14

Post by rolltiide »

evian83 wrote: post #11
rolltiide wrote: post #8

This relies on - and takes advantage of - a lack of understanding on how these organizations are able to operate Drop all the currency terms and what you have is a product, a consumer good sold to the public that some employees are given. The employees are free to sell in parallel to the organization selling it. When that runs out the organization still has 100% share ownership So THEN it gets put on the same lower l…

"A new lawsuit is sorely testing the Zcash Founders Reward model" https://www.finder.com.au/a-new-lawsuit-is-sorely-testing-th... "Ex-Employee Sues Startup Behind Zcash for $2 Million Over Unpaid Stock" https://www.coindesk.com/ex-employee-sues-startup-behind-zca...

what point are you trying to make? OP's article isn't talking about the incompetence of ECC in making a stock option plan.

Re: An impending funding crisis threatens Zcash

#15

Post by pavel_lishin »

baby wrote: post #7
prepend wrote: post #3

It’s unclear to me how much should go to founders of things like currency. Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens? That seems unsustainable and part of the reason why a cutoff would be designed into the system. I’ve been through a lot of discussions around what a fair price is to pay for the devs of a community resource and I don’t th…

Mentality has changed. Look at Patreon. I’ve never given money to these types of stuff and now I’m donating monthly to Kurzgesagt. That says something.

It's also gotten easier to give money. Plus, at least speaking for myself, I've gotten older and am now in a financial position to realistically support things without sacrificing too much else.

Re: An impending funding crisis threatens Zcash

#16

Post by [deleted] »

rolltiide wrote: post #14
evian83 wrote: post #11

Earlier quoted context omitted.

"A new lawsuit is sorely testing the Zcash Founders Reward model" https://www.finder.com.au/a-new-lawsuit-is-sorely-testing-th... "Ex-Employee Sues Startup Behind Zcash for $2 Million Over Unpaid Stock" https://www.coindesk.com/ex-employee-sues-startup-behind-zca...

what point are you trying to make? OP's article isn't talking about the incompetence of ECC in making a stock option plan.

[deleted]

Re: An impending funding crisis threatens Zcash

#17

Post by cududa »

dijit wrote: post #2

Meta: I’m not fond of the trend with these huge banners. The view portal is basically non-existent.[0] Thank god for reader mode. It really seems to be essential, but this site doesn’t even support reader-mode. [0]: https://i.imgur.com/jWA4pX6.png

Literally everybody on this website agrees with you. These comments aren’t particularly useful

Re: An impending funding crisis threatens Zcash

#18

Post by dijit »

cududa wrote: post #17
dijit wrote: post #2

Meta: I’m not fond of the trend with these huge banners. The view portal is basically non-existent.[0] Thank god for reader mode. It really seems to be essential, but this site doesn’t even support reader-mode. [0]: https://i.imgur.com/jWA4pX6.png

Literally everybody on this website agrees with you. These comments aren’t particularly useful

Unless the author/designer of the site sees it as feedback no?

I’m glad people agree with me though. Though I f that were the case wouldn’t there be an enormous push back against stuff like this in most circumstances? I know hacker news isn’t all web developers but it would echo a wider sentiment. Surely?

Re: An impending funding crisis threatens Zcash

#19

Post by lacker »

prepend wrote: post #3

It’s unclear to me how much should go to founders of things like currency. Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens? That seems unsustainable and part of the reason why a cutoff would be designed into the system. I’ve been through a lot of discussions around what a fair price is to pay for the devs of a community resource and I don’t th…

The real problem here is that the compensation structure was initially defined to give the dev team payments for four years and then stop. That makes sense for stock options, when there are established mechanisms to expand the options pool later. For a cryptocurrency it creates a big problem for you, that you’ve punted four years down the road.

We’ll see if Zcash developers manage to fork into a coin that keeps paying them to work on it, but I think the lesson here is to incorporate this up front in the model. Any amount can be fair if it’s fairly communicated up front.

Re: An impending funding crisis threatens Zcash

#20

Post by jdsully »

lacker wrote: post #19
prepend wrote: post #3

It’s unclear to me how much should go to founders of things like currency. Shouldn’t the amount of funds to a dev team depend on some sort of measure of value rather than a cut of all future tokens? That seems unsustainable and part of the reason why a cutoff would be designed into the system. I’ve been through a lot of discussions around what a fair price is to pay for the devs of a community resource and I don’t th…

The real problem here is that the compensation structure was initially defined to give the dev team payments for four years and then stop. That makes sense for stock options, when there are established mechanisms to expand the options pool later. For a cryptocurrency it creates a big problem for you, that you’ve punted four years down the road. We’ll see if Zcash developers manage to fork into a coin that keeps payin…

Shareholders don't expect to keep getting additional shares as time goes on. The point is you increase the value of each share by improving the company (or in this case the currency). They already have substantial ownership in the currency - this should be sufficient.
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