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This issue is mentioned in a small sub-comment and has drawn no replies but it seems to me like the Heffalump In the Room: "For its first four years online, a
by fernly 11y ago
This issue is mentioned in a small sub-comment and has drawn no replies but it seems to me like the Heffalump In the Room:
"For its first four years online, a portion of every mined Zcash coin will go directly to Wilcox’s Zcash company and a smaller portion to a non-profit he’s creating to oversee the Zcash code and community longterm. Wilcox says that he plans for 1 percent of Zcash’s currency to ultimately go towards that non-profit, and 10 percent to be paid to the for-profit startup."
Who is going to want to engage in commerce in a system that creams off a 10 percent vigorish on every transaction? Credit card companies are hated by small merchants for taking a third that much.
- x5n1 11y agoCredit card companies take at least that much from the transaction. They charge both the supplier and the holder.
- runholm 11y agoCredit cards are more expensive than most would like them to be. We don't need another expensive system. Besides, credit cards offer protection in that they are able to give insurance on purchases by doing charge backs.
- jpatokal 11y ago10% of every mined coin, not transaction. Big difference.