Epic Cash — Crypto Daku — Massive AMA
daku saurabh
Hi All , welcome everyone. We are having Epic Cash team here for this round of AMA.
Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Lots of things!!. And I am sure people here are eager to know more.
daku saurabh
Hi @maxfreeman4 @Xenolink @Yogadude thanks a lot for joining . Before we start AMA, we will love to know about your role and day to day work experience in Epic Cash.
Max Freeman | Epic Cash | Mimblewimble
Hi
I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Alejandro Urich
This AMA will be EPIC!
Wolfie
Heyooo Maxxxx
Max Freeman | Epic Cash | Mimblewimble
I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Yoga Dude
Hello! I am Yoga Dude and I handle PR and Marketing. Been in crypto since 2011 (Bitcoin), got into Monero in 2014, Ethereum 2015 and into DOGE for fun and unexpected profit. Got into Epic Cash in 2019. Love the project and the community :)
Max Freeman | Epic Cash | Mimblewimble
I began working on the vision of what became Epic in late 2018 — Bitcoin is the best form of money that has ever existed, but it’s not perfect — it lacks privacy, scalability, and it is censorable / centralized through its mining’s reliance on ASIC’s.
Xenolink
I’m Xenolink, I’m part of the Epic Cash Community and am showing community support. I have been involved in Crypto since 2012 and have been an enthusiast for Privacy coins. :)
daku saurabh
All are old time from crypto. Wow!!
Wolfie
#solid love it!
daku saurabh
Welcome Team
We are opening floor for ama. Please see pinned message for format of AMA. You break rules- you miss rewards 😊
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. questions pour in
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daku saurabh
Wow lot of questions . Channel is muted for team to answer. Meanwhile keep your questions ready when channel is unmuted. Please see pinned message
Sukama
Why EPIC is having multiple mining algorithms ?
Max Freeman | Epic Cash | Mimblewimble
Multiple mining algorithms (currently 3, but can be expanded to any number) increase the network security for any given hashrate, making it more resistant to attacks. More important than that, though, is that it enables a much wider population of hardware to participate. It is possible to mine Epic on an old laptop, as well as the latest GPU’s, and we have an easy pathway for adapting to technology changes over time — small, cheap ASICs based on SHA3 Keccak will likely one day be prevalent, and we have a roadmap that makes room for them ahead of time.
Hodl Gang
What is Fungibility and why is it important? why epiccash?
Xenolink
As mentioned in our intro, Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. To add on to that we already can see Freshly mined bitcoins being sold at a premium price. It is becoming more evident that the Fungibility problem is being noticed with BTC.
Raghav
You mentioned on website, that Epic is Fully Fungible, But what is meant by Fungible & Whats the benefits of Fungible than Non-Fungible?
Max Freeman | Epic Cash | Mimblewimble
Fungibility means that you can’t tell one unit of currency from another. In transparent ledgers such as Bitcoin, users increasingly need to care about *which* coins they receive, because of the possibility of buying tainted coins that were involved in a hack, darknet market transaction, or mixer.
You can tell we like fungibility!
S.A.M. Crypto Trader
Whats the benefits of Privacy? Also, Coins like Bitcoin are also private where users doesn’t know who owns that bitcoins ! then, whats difference between Epic cash & Bitcoin?
Yoga Dude
Well Bitcoin turned out not to be private… Back in 2011 we thought it was, and then came the disappointment — everyone can see the Bitcoin whales and ALL their moves. What we offer with Epic Cash is much better privacy through address-less blockchain thanks to the Mimblewimble algo. Our blockchain is more private than Bitcoin or Monero and much much lighter.
Max Freeman | Epic Cash | Mimblewimble
Here is a simple way to think of it — in Bitcoin, you need to care about which dollar bills are in your wallet, not simply how many you have. With Epic, since all coins are in essence melted and freshly reissued every time they’re spent, it’s not important to know where the coins have been before they got to you.
Cool Hi
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Xenolink
Epic Cash did not start with any funding, and was organically genesis mined. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Max Freeman | Epic Cash | Mimblewimble
Epic is a nonprofit community project similar to Monero, there is no profit-driven entity in the picture. That budget is to improve and promote the project.
Hodl Gang
how you compare with other mimble wimble products? Grin, beam etc
Max Freeman | Epic Cash | Mimblewimble
Grin has infinite emission, no halvenings — this is not good for the value of the coin over time. Epic has a maximum supply of 21m coins in 2140, and 4 halvenings in the next 8 years.
Beam and Grin are both primarily GPU mined coins, whereas Epic can also be mined on an ordinary CPU with a home PC or laptop. Beam has huge inflation the first years (max supply 263m) and a large dev tax to reward its VC investors and centralized corporation involved.
King
I presently use MONERO and ZCOIN as my privacy blockchains. Why should I stop using them and migrate to epic ? What are the advantages and salient features of epic compared to other privacy currencies: Zcash, Monero? What is your strategy to attract user and make #epic popular?
Yoga Dude
First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for todays investment. In a nutshell our Privacy is better, our blockchain is lighter, and we are massively undervalued so the odds of us going x100 are much higher than Monero or Zcash… That said I am a HUGE fan of Monero and been mining and buying it since 2014, and Monero is the reason I got into Epic Cash — to me it is the next logical step in the Scalable evolution of private and fungible crypto. Also, I did see that you mentioned ZCoin not Zcash, but of the two that you mentioned I definitely like Monero over Zcoin , but even bunching Zcash into the mix, I still like Epic Cash as a better investment choice :)
Alejandro Urich
Right now, you have a wallet where you can do mining too, a great combination! Are you planning to enable a lighter wallet for cell phones?
Max Freeman | Epic Cash | Mimblewimble
At the moment it is possible to store coins on iOS and Android using the Vitex mobile wallet. Later this year, we will have a dedicated Epic mobile wallet as well.
Nguyễn Duy Bảo
Halving BTC is about to take place, which makes a lot of investors and users wait. So, will this Halving BTC affect the value of Epic Cash in the near future? What is the development direction of Epic Cash in the future?
Yes, in the forthcoming V3 version of our code, it will support sending via Tor / I2P, further enhancing the privacy and ease of use of the network.
No one can say for sure that a BTC Halving will have a direct effect on the value of Epic Cash or other coins, but in the past we have seen what happens to the price action of BTC after a Halving. However when it comes to halvings, Epic Cash plans to have 5 halvings that will occur between now and 2028 to match the emissions of bitcoin. We call this the singularity point.
Xenolink
The first halving for Epic cash is coming this June, 2020
Yoga Dude
Just want to add to what Xeno says, I believe the BTC Halving will drive the prices up, in fact I think we are seeing anticipatory moves already… As much as some believe that halving is “in the price” history proves otherwise :)
Noah Verner
Some time ago, it was said that Epic Cash would be able to make transactions in the Tor Network
Is that feature still being developed?
Max Freeman | Epic Cash | Mimblewimble
Yes, in the forthcoming V3 version of our code, it will support sending via Tor / I2P, further enhancing the privacy and ease of use of the network.
Jerry
Government who always want to control everything by their power . Is a privacy coin , So how will epic solve this issue about policy and legal?
Yoga Dude
We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why this is necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals. Privacy is not a crime, its a right. Epic Cash is unstoppable internet money shifting the balance and giving more power to the people.
Nick
What are the main differences between Epic Cash and other privacy coins? Why is Epic Cash better than these privacy coins?
Max Freeman | Epic Cash | Mimblewimble
The two best-known privacy coins are XMR and ZEC. XMR has a bloated blockchain and only mixes transactions with 10 others in “rings” of 11. Epic’s blockchain is over 90% smaller, and over 1000 transactions can be mixed together, enhancing privacy.
ZEC has optional privacy, with currently only around 10% of transactions using this feature. Further, it requires a heavy duty processor to generate them. Epic is fast and light, for all types of devices, one day including smartwatches and other low end hardware.
Alejandro Urich
EPIC, that’s a name that make people expect a lot from you. Not everything can be EPIC! Why did you choose that name?
Max Freeman | Epic Cash | Mimblewimble
It stands for “Epic Private Internet Cash” (E P I C) — it has the benefit of being a globally accepted word, and has a positive meaning in most people’s minds already.
star
How do you solve the scaling problem that many privacy coins have? And how do you overcome the threat of centralization in your privacy coin?
Xenolink
MimbleWimble tech being used as the foundation for Epic Cash, gives a better advantage over Monero because of it’s scalability. Having 3 mining algos RandomX (CPU) / Progpow (GPU) / and Cuckoo ( ASIC) gives better opportunity to a wider audience especially with RandomX. People will be able to mine from old computers/laptops. This also presents a more fair distribution and better scaling model for a wider audience of miners to prevent Centralization.
Max Freeman | Epic Cash | Mimblewimble
More on this, the Epic blockchain is over 90% smaller on an apples to apples basis than BTC, and 95+% smaller than XMR. A smaller blockchain means less burden on nodes, and less powerful devices can participate in the network.
Milton “Rockstar” Friedman
Beyond the interesting technical characteristics of EpicCash it might have, is it also FUNDAMENTAL to have a FAIR monetary policy, in your personal opinion, being inspired by bitcoin is a marketing strategy, a tribute or a way of saying that this model works?
Is there any reason why they have kept a block size of 1 mb?
Max Freeman | Epic Cash | Mimblewimble
Like BTC, our supply started at 0, with no ICO or premine. It was a truly fair launch, announced well ahead of time so anyone could participate. By following the supply model of BTC (with the coins in circulation synchronized from 2028) it makes it easy for people to understand. “Don’t mess with success”
A 1mb block is enough for 1000 transactions per minute, as we are a 1 minute block time vs. 10 for BTC.
daku saurabh
@Xenolink We had many questions in tweeter, You picked some of the best ones and want to answer them ?
There are projects that is also using mimblewimble such as Litecoin
Do you think more users will choose Litecoin over Epic Cash if they implement it?
What is your advantage over Litecoin? and Why we choose you over Litecoin?
How do you solve the scaling problem that many privacy coins have? And how do you overcome the threat of centralization in your privacy coin?
AS I see there are other projects that are using Mimblewimble protocol, and both these projects have been launched in 2019 , What is the main advantage that EPIC has over GRIM & BEAM?
Can you tell us about your business model and how you generate revenue in EPIC Cash?
Here are few from tweeter which you messaged.
Max Freeman | Epic Cash | Mimblewimble
LTC is a transparent blockchain based on BTC, and this will not change. They are adding extension blocks, which will make it possible to optionally have privacy when you want to (not required to be supported by all wallets/exchanges/etc) — this is fundamentally different than having always-on privacy for all transactions.
If not all transactions are private, then the currency is not truly fungible. If it’s not fungible, then what you have is more like a diamond (where the individual coins’ properties are important) than dollar bills. Because of true fungibility, Epic is truly P2P Electronic Cash as Satoshi intended.
Yoga Dude
assume you mean Grin and Beam :) not Grim… Seriously, we have nothing but respect for the guys behind Grin and Beam. I mean we forked from Grin! Both teams have a lot of talent and that is indisputable, but we are looking at the underlying economics and intent which is what the real use cases are. Grin is endless fountain of emission and inflation, not like Monero or Ethereum where there are at least halvings and bend to the curve, but a straight up fountain. Beam made fun of Grin, about their “irresponsible” emission, BUT if you look closely they frontload their emission so heavily that for the first 5 years they outpace Grin on emission. We went with the Bitcoin 21 mil cap, plain and simple and we match into their emission. We believe that creates a better value case for our users, investor and miners — our community. That is also why we went with more ways to mine our Mimblewimble Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Xenolink
We respect our fellow mimble wimble projects Grin and Beam. They also believe that privacy and fungibility is important for currency. What distinguishes Epic Cash from Grin and Beam is our economics model. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long term economics very sound. Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model will disappear by 2028’s singularity.
Yoga Dude
there you go two answers for that one
daku saurabh
good ama!! thanks team.
we will close this AMA now.
Aksh
thanks for the ama
daku saurabh
Wow lot of questions were asked. thanks team for answering them. Thanks to community which makes Daku as the best community. We love you community!!
Zeke Xz
Thank you for doing this AMA!!
Jonathan tross
Love u guys
daku saurabh
thanks @maxfreeman4 @Xenolink @Yogadude for joining
Max Freeman | Epic Cash | Mimblewimble
Thanks everyone! Daku is the man!
Xenolink
Thank you to @saurabhblr and the Crypto Daku Robinhooders for your attention and time !
Yoga Dude
Thank you folks!
Milton “Rockstar” Friedman
EPIC 🤘🏻🤘🏻🤘🏻
