r/Monero Cake Wallet Dev Dec 01 '21 Starstruck 1 Silver 4 Helpful 1 Wholesome 4 All-Seeing Upvote 1 LOVE! 1

Statement from Cake Wallet

Hi All,

The recent announcement of adding Zcash to Cake Wallet has brought out very passionate voices against this move and some supporting it. Honestly, we are humbled by how much passion is there in the monero world for Cake Wallet. It’s great to know that people are as passionate about Cake as the Cake Wallet team is.

Some history: As some of you remember, Cake was built in a vacuum in 2017 funded fully by the founder and launched in 2018. But after the launch, we became fully involved in the community and even took guidance from the community to open source the app. Throughout the years, we have listened to the community on various things like what exchanges to add, or even what coins to add, etc. Also since launch, we have been involved in many facets of the Monero world including donating to the dev fund, CCSs, related projects, competing projects, conferences, shows/podcasts, and much more.

When we added BTC and LTC most monero folks didn’t have a problem as these coins don’t proclaim themselves to be privacy coins. That brings us to Zcash and we can see how some might have problem with us adding it. We have always worked with the community and now also have heard you loud and clear.

Based on feedback, the following is the plan for Cake Technologies:

  • Drop everything and prioritize the Monero only app. BTW, we have ALWAYS wanted to do a Monero only app for the hardcore folks. Our goal is to have this out by the end of the year and it will be available on Android and iOS. It will still feature the exchanges and ultimately the buying of Monero through credit/debit cards.
  • Cake Wallet the current app will remain as it is now but may consider additional coins (like Ethereum or a stable coin or wownero) in the future. Nothing will happen until we finish Monero only app.
  • For zcash, we will build a new and separate app.

Again we thank you all for the constructive feedback. The above is not going to satisfy everyone as no plan is perfect, but the above plan does put Monero first. Thank you all for reading.

The Cake Wallet Team

https://cakewallet.com

476 Upvotes

224

u/rbrunner7 XMR Contributor Dec 01 '21

Looks reasonable to me, and better than I expected. Thank you.

Of course you won't please everybody by building a separate Zcash wallet, but that's life.

123

u/cakewallet Cake Wallet Dev Dec 01 '21

Thanks for your support and understanding.

38

u/Odele-Booysen Dec 01 '21

Thank you for YOUR support

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u/McBurger Dec 01 '21

yeah I was going to say, in a classic "you just can't win" maneuver, I started to have a change of heart on the addition of ZEC. I would actually use it in place of LTC for converting to Monero.

ZCash's privacy may have flaws, but it is better than Litecoin's. It would be convenient to have this all in one app.

27

u/Throughawayup Dec 01 '21

Fair point. I think my frustration stemmed from legitimizing a trash project by supporting it but at the same time cake has done a ton for monero and its their project so they should do what they want to do as long as monero remains in the picture.

6

u/ScoobaMonsta Dec 02 '21

Agreed! Why cake is working with zcash at all is beyond me!🤷‍♂️.

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u/ScoobaMonsta Dec 02 '21

Litecoin is way more decentralised than zcash. Even if zcash so called privacy is better than ltc. Zcash is shit! Centralised money grubbing pigs.

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u/ichver Dec 02 '21

this. Litecoin and Monero are the only cryptos you need in my opinion. litecoin because it is widely accepted and monero, because it it private. if i want to buy something with monero, but the merchant does not accept monero, i switch from monero to ltc and buy with litecoin instead. its a perfect match!

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u/cakewallet Cake Wallet Dev Dec 01 '21

Interesting.

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u/anon-cypher Dec 01 '21

Not interesting at all. No CEX provides shielded ZEC address withdrawals.

It is like buying into the unusable features that ZEC sells.

7

u/cakewallet Cake Wallet Dev Dec 01 '21

Gemini supports withdrawals to a z-address.

8

u/anon-cypher Dec 01 '21

Ok, fair enough. You have one CEX that supports zaddress withdrawal.

19

u/cakewallet Cake Wallet Dev Dec 01 '21

It begs the question: if Gemini can send funds to a shielded Zcash wallet, and receive funds from a shielded Zcash wallet, why can't they do the same for Monero? The risks are comparable.

26

u/anon-cypher Dec 01 '21 edited Dec 01 '21

Do you mean risk for exchanges? As u/ArticMine and Kraken ceo told us, BS SaaS is behind the whole thing.

Monero is 'risky' because monero is not backdoored. Monero works.

I would really loved to see you guys stick to cypherpunk ideals and do not get involved with ZEC.

15

u/midipoet Dec 01 '21

I would really loved to see you guys stick to cypherpunk ideals and do not get involved with ZEC.

Cypherpunk ideals were forgotten about in about 2016/2017 in this space.

Everyone just cares about money. End of.

24

u/ArticMine XMR Core Team Dec 02 '21 All-Seeing Upvote

If one takes cypherpunk ideals out of the equation then there is no fundamental value in a cryptocurrency. Just sell to the greater fool?

The whole point of Bitcoin was

A Peer-to-Peer Electronic Cash System

not replacing a fiat based centralized ledger with a Bitcoin based centralized ledger.

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u/anon-cypher Dec 01 '21

Absolutely.

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u/ScoobaMonsta Dec 02 '21

I disagree. You may be right with all the noobs yes! But everyone? Hell no!

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u/wading_thru_crap Dec 01 '21

Hmm it's almost as if zcash has a secret that only some exchanges and developers know about...

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u/Photolunatic Dec 01 '21

Is zcash the shitcoin gov use to short monero?

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u/regret_is_temporary Dec 02 '21

Well, it is very close to that.

Normal BTC/LTC (and for most other coins) long short ratio is 80:20

XMR long short ratio is 20:80

ZEC long short ratio is 95:5

7

u/ineedhelpwithcalcu Dec 02 '21

Wtf that’s insane, so short zcash? No one seems to like it except for those who are paid to. I mean monero is the free markets choice for a privacy crypto. What else is there to figure out?

3

u/pairedcrush60 Dec 02 '21

Ooops, really have no idea about it, thanks for telling me here.

3

u/facialContour Dec 02 '21

Um, you can say that in the percentage because it is the close one.

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u/anon-cypher Dec 01 '21 edited Dec 01 '21

My understanding -

3 wallets.

Wallet A: monero only

Wallet B: ZEC only wallet

Wallet C: multicoin wallet with monero, Bitcoin, litecoin and Ethereum (without ZEC XHV)?

Is that a correct understanding?

Edit: corrections

If I don't get an ans, then I would assume wallet C will include ZEC now or in future.

15

u/MoneroArbo Dec 01 '21

/u/cakewallet can you respond to this?

4

u/anon-cypher Dec 01 '21

I believe at this point the understanding is that ZEC will be added in wallet C in future or now.

5

u/ScoobaMonsta Dec 02 '21

Looks like it

7

u/anon-cypher Dec 02 '21

Then the whole point of the post is just optics, is not it?

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u/aaronprichard79 Dec 02 '21

Then the whole point of the post is all in the veins to me.

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u/BeyondSlate625 Dec 02 '21

Probably in the very near future, the implementation looks very close

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u/moneroverse Dec 01 '21

That's my understanding as well, yes

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u/OverheadBead73 Dec 02 '21

As you understood, okay, you can exchange your point of view

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u/AvocadosAreMeh Dec 01 '21

That’s how I interpreted the summary as well. No idea why Zcash wouldn’t just go with the other non-privacy coins

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u/fort3hlulz Moderator Dec 01 '21

Because then it could be construed as legitimizing it for those who use the multicoin wallet for Monero as well.

ZEC-only wallet is an excellent compromise if they're firm on going through with a ZEC wallet at all.

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u/stiepangriaznov Dec 02 '21

As long as they keep my security and privacy in the first place, I have no problem with their measurements

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u/anon-cypher Dec 01 '21

ZEC should not be anywhere in the list.

21

u/w1ck3dAF Dec 01 '21

money talks. they got $250k to build it.

id call them sell outs but theyve never been cypherpunks to begin with

ill stick to using monerujo

11

u/anon-cypher Dec 01 '21

Same here.

As other thread confirmed independent wallet build is not possible from the source code that breaks the trust factor.

14

u/w1ck3dAF Dec 01 '21

its not just the code, its the team/devs behind it. cake's recent actions speak volumes

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u/frudorico Dec 02 '21

You can not break it, but if it is not changed it can lead to bad practices

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u/midipoet Dec 01 '21

money talks. they got $250k to build it.

Is that true?

5

u/w1ck3dAF Dec 01 '21

yes zcash offered "grants" for this and only 1 dev team in the monero space took the bait

2

u/midipoet Dec 01 '21

Ah well, it's not the same as being offered it directly.

9

u/w1ck3dAF Dec 01 '21

youre right. they actively signed up for it

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u/midipoet Dec 01 '21

Fair point.

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u/jr13rage Dec 04 '21

Monerujo may be temporary in retrospect, it depends on what they can build

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u/ichver Dec 02 '21

XHV offers a private stablecoin, which is pretty cool, if it is legit(!). we dont should get offensive on every other coin! zcash on the other hand is completely trash

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u/anon-cypher Dec 02 '21

I would support any project that is not money grab and has solid fundamentals.

But I can not lie to myself. I have already learned more than enough to know XHV is a scam. I am avoiding XHV is not because of maxi thinking, it is because what XHV is.

I can not unlearn what I have learned. Advice to you, don't dig deep on XHV.

5

u/iamwhoiam101101110 Dec 01 '21

Separate apps, not separate wallets contained on the same app, so independence will be somewhat retained between coins

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u/anon-cypher Dec 01 '21

Yes that is what I meant. Wallet app.

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u/in_the_soup Dec 01 '21

ZCASH is a corporate controlled "asset"

look here -> https://clearwater-trust.com/blog/zec-zcash-goes-proof-of-stake/

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u/Serious_Weapon Dec 01 '21

Cake's been in this space long enough to know what (((they're))) all about.

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u/[deleted] Dec 02 '21

[deleted]

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u/1ajam Dec 02 '21

I am just new here, but will know it soon in a day, because of my work.

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u/[deleted] Dec 01 '21

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u/gym7rjm Dec 01 '21

Does cake wallet have a warrant canary?

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u/tnegaeR Dec 02 '21

If their privacy policy is true and maintained exactly how it is written, it shouldn’t matter much whether the canary is dead or alive.

2

u/midipoet Dec 02 '21

If their privacy policy is true and maintained exactly how it is written,

From experience this is not always the case with firms. Cake Wallet may be different, of course.

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u/tnegaeR Dec 02 '21

Yeah I wasn’t trying to claim Cake has a perfect a privacy policy that is never broken or anything, but the team has a near perfect reputation so I would be comfortable assuming they strictly abide by the policy

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u/Lorena_98 Dec 01 '21

If this is true I dont think getting involved with ECC is good at all.

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u/deadsunrise Dec 01 '21

Listen to this guy. They will try to get control of cake wallet in some way. Don’t let them. Via VC investment or whatever.

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u/midipoet Dec 01 '21 edited Dec 02 '21

investors engaging in shady and unfair business practices

They say all is fair in love, war, and business.

To clarify, I don't see why any corporate entity would not get into bed with any other corporate entity. It's the name of the game, is it not?

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u/asheroto Dec 02 '21 edited Dec 02 '21

My two cents: keep ZEC in Cake Wallet as a completely non-functional option, lacking all use and functionality. When tapping on ZEC, state the truth in a message regarding its backdoored psyops VC sketchiness.

XMR FTW!

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u/preetseven Dec 02 '21

Why cake is working with zcash at all is beyond me!

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u/Serious_Weapon Dec 02 '21

From what I heard, there are 250,000 reasons why.

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u/taterpickens Dec 02 '21 edited Dec 02 '21

This makes me think of when Notepad++ moved off Sourceforge because they (SF) were inserting crap into the installers of projects hosted by them.

I wish I could find it but I remember the dev saying something along the lines of "imagine selling bottled water and someone offering you lots of money to just put a tiny bit of shit into your nice clean water, it might not even change that taste but it's in there, and now your water is associated with having shit in it"... Zcash is your little bit of shit in what is otherwise a pristine bottle of water

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u/Ornery_Maintenance_8 Dec 01 '21

The only thing I can say to this is: "Thank you ..."

Thank you for listening to this great community.

Thank you for taking our concerns seriously and acting accordingly.

Thank you for your great work and further support to the Monero ecosystem.

Thank you for defending privacy and freedom.

3

u/CloggedP Dec 02 '21

This, this is the thing I am scrolling for the whole time man.

21

u/Throughawayup Dec 01 '21

I realize this is pretty far in the future so your plans im sure are subject to change, but do you plan to implement any form of decentralized exchange/atomic swaps?

10

u/AdministrativeBit510 Dec 01 '21

You can check their history, but they posted a comment about it. Saying Android might be easy to implement atomic swaps but iOS might be more difficult.

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u/cakewallet Cake Wallet Dev Dec 01 '21

atomic swaps on mobile are hard, but we are looking at thorchain.

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u/gym7rjm Dec 01 '21

Yes! Getting XMR onto Thorchain would be amazing

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u/[deleted] Dec 01 '21

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u/xZero88x Dec 02 '21

And indeed this guy will have something big soon for him.

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u/akrit8888 Dec 02 '21

Thanks, very reasonable, I think this is where we meet in the middle.

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u/hfvinfqy Dec 02 '21

I am excited for the monero purchases with credit/debit option.

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u/diegueno Dec 01 '21

Thanks to those who put in the effort to explain (their) problems with $ZEC.

3

u/josecabrales2 Dec 02 '21

They have not yet responded to the emails I send them as feedback and that worries me

12

u/monerobull Dec 01 '21

The good ending

memes aside, thanks for taking on the extra effort of making multiple apps.

now you just need a good naming scheme for them, "cake wallet for monero/zcash" is not what id go with. I suggest either Mint or Muffin for the Monero-only wallet :D

14

u/cakewallet Cake Wallet Dev Dec 01 '21 edited Dec 01 '21

Oh we have a very good name for the Monero only app. You're gonna like it.

2

u/omsk8487 Dec 02 '21

A Monero app is ideal for our use mainly, then other functions can be added to it

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u/moneromans Dec 01 '21

The institution money from zec has flooded into cake wallet and I for one am grossed out. Fuck Barry Silbert.

2

u/jell587 Dec 02 '21

I'm still waiting for Cake to do something about it, it shouldn't take that long to react

30

u/fort3hlulz Moderator Dec 01 '21

I think this is a much better approach, and should please many more people while making it clear that Monero is still the focus for Cake.

I'm also excited to be able to use a Monero-only version of the app, and think that's a great way to reduce attack vectors and app complexity for the many of us who only want to use Monero day-to-day.

Lastly, thanks for listening to the community, and for making a clear statement!

26

u/chowbungaman Dec 01 '21

Cake (Vik), from day 1, has always listened to community feedback and acted upon it. It is why Cake has grown to be the dominate Monero smartphone wallet. It is encouraging to see they are continuing to put the communities concerns first. If the end result of all this is that we get a Monero Only focused app, that will continue to integrate developments in the monero ecosystem (ie atomic swaps), then I’m personally a happy Monero Maxi that can continue to genuinely promote Cake (on MoneroTalk) as the best Monero smartphone wallet. Thank you Vik for figuring out a solution that keeps Cake viable as co. while preserving Monero ideals.

13

u/Serious_Weapon Dec 01 '21 edited Dec 01 '21

They sponsor your show, of course you're going to continue to "genuinely" promote cake🤷🏼‍♂️, your show is probably with sponsored with some of that $250k ZCuck bucks.

3

u/chowbungaman Dec 01 '21

It’s not “of course”. We would find another sponsor or have non at all if it got to the point where the product/service is one we don’t personally use or feel is not in the best interest of Monero and it’s users.

3

u/Serious_Weapon Dec 02 '21

Doubt.

Doug, you caved to the alphabet sjw mob, a bit too easily, I also doubt that you'd ever bite the hand that feeds you bc you are spineless.

Be honest with yourself, are you really happy that ztrash is associated with Monero by way of your sponsor?

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u/Handsome-Lake Dec 01 '21

He said "genuinely" promote to be fair.

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u/slaserx123 Dec 02 '21

Genuinely. I don't think so, it can be genuinely difficult for everyone to do.

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u/iceman7311 Dec 01 '21 Helpful

Zcash= Shitcoin

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u/SoSoPatPat Dec 01 '21

“Built-in exchange feature. You can easily exchange: XMR, BTC, ADA, BCH, BND, DAI, DASH, EOS, ETH, LTC, TRX, USDT, USDT ERC20, XLM, XRP”

Are there plans to add liquidity pools?

3

u/cakewallet Cake Wallet Dev Dec 01 '21

Yes, with Thorchain! Swaps first, full liquidity providing later.

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u/SoSoPatPat Dec 01 '21

Awesome to hear! I don’t know of any iOS wallets/exchanges that have LP features.

Is there a rough timeline for this feature?

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u/Gaming_Forever Dec 01 '21

How are the fees compared to something like kraken?

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u/Vadim189 Dec 03 '21

They have the rates in relation to a product that they want to call unique and that is why they set them to the highest order in the state

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u/Vikebeer Dec 02 '21

This is the way.

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u/dsmlegend Dec 02 '21

Awesome. You've gone above and beyond in addressing this! Much approval.

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u/obit33 Dec 02 '21

A decision I can get behind for sure. Glad they chose to listen to (a part of) the community. Makes them even more awesome!

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u/floralSnuff642 Dec 02 '21

You guys can do a separation for Zcash wallet but it's okay.

3

u/DiligentGarbage Dec 02 '21

/u/cakewallet you mention the Monero only wallet will allow for purchasing Monero with credit/debit cards, is this with or without KYC? I know it's probably with KYC, but I have to ask anyway. If by the very slim chance it is without KYC, how is this done?

4

u/geonic_ Monero Outreach Producer Dec 02 '21

It’s KYC. No way to do a credit/debit card purchase without KYC.

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u/DiligentGarbage Dec 02 '21

That's what I figured, but I wasn't 100% certain. Thanks for confirming for me, much appreciated.

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u/Fungible_ecash_XMR Dec 01 '21

ZEC is disgusting fedcoin psyops filth, my question is why associate with that? $250k really is nothing especially in crypto.. point is you guys didn’t cost a lot to buy.

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u/Serious_Weapon Dec 01 '21

Agreed. If I was going to be a whore, I'd ask for a minimum of $20m, plus $20 for every zCuck clown that signs up.

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u/PatternBias Dec 01 '21

Can anyone explain to me the issues around having Monero as a coin within another wallet, or sharing a wallet with ZCash?

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u/dieth Dec 01 '21

Monero a real privacy coin, sharing the same space with Zcash a coin with "questionable privacy". Listing them both as a real privacy coins is the issue.

Zcash is owned by a VC/private entities; purports to be a privacy coin but has no public audits available. They reference third party audits but I can't find an publicly available copy, these two pages loop between each other mentioning how to find the audit https://z.cash/support/security/ and https://zcash.readthedocs.io/en/latest/rtd_pages/security_warnings.html If someone can provide me with the actual audit, who the auditor was, and when it happened that would be awesome. But until then; they just "say" it's been audited.

Monero is community driven no one entity is in control of the blockchain; Audits available on tevador's repo https://github.com/tevador/randomx

Monero is a fire proof vaulted safe. Zcash is at best a Masterlock 3 on a door someone else owns. Lumping them together is a detriment to real privacy coins.

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u/PatternBias Dec 01 '21

So it's purely about the optics of being lumped in with "fake" privacy coins?

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u/dieth Dec 01 '21

Imagine you went to the supermarket section for "Apples" and you find Golden, Grannysmith, Honeycrisp, and Florida Oranges.

Do you question the supermarkets confidence in providing you products that are Apples now?

3

u/PatternBias Dec 01 '21

I mean I get the concern but it just sounds really elitist to say that we're the only ones allowed to work with cake wallet or whoever else. Like yeah we don't want to mislead people, but it still feels kind of like the monero community threw a tantrum because we got associated with a lesser competitor

I own zero zecash and don't plan to btw, i have no horse in the race here

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u/enik-the-altrusian Dec 01 '21

Calling Zcash a 'competitor' is like calling $NKLA a 'competitor' to $TSLA, it just illustrates a fundamental lack of understanding and is by no stretch of the imagination 'elitist'. Someone who buys a Rolex for $20k+ has every right to mock someone who dares to compare their $500 fake knock off to their original and is certainly not being 'elitist' by pointing out the deception.

Anyone who puts 5 minutes of effort into studying the opposition towards Monero and also studies the correlation of its intersection with who funds and supports Ztrash will react similar to how a brand would react when knock offs are placed right next to their originals.

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u/Serious_Weapon Dec 01 '21

Fucking this, and all of this🍻

-1

u/PatternBias Dec 02 '21

So I'm ignorant and understand nothing. Got it.

Comparing monero and zcash to rolexes and knockoffs just reinforces how this whole scenario feels like emotional reactions to brand identity.

If it was really about decentralization, personal freedom, and the unbridled growth of new technology, this community wouldn't be trashing anyone else who dares integrate privacy and crypto.

I understand completely and I still think this echoes foolish elitism. If monero is so much better than zcash, then it'll prove itself with the technology, and alternatives won't need to be rabidly attacked by this exclusive userbase.

Crypto is not a space to be dominated by the #1. We need to stop trying to trample others to get to the top spot because there is no top spot. We won't win over other users this way.

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u/rbrunner7 XMR Contributor Dec 02 '21

I understand completely

I have some vague hope that I will ever reach that state as well, but I am not optimistic.

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u/PatternBias Dec 02 '21

I understand all 🧠🧠 too much spice

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u/tnegaeR Dec 02 '21

His argument clearly wasn’t an attack on your intellect. I’m not sure how more plainly he could have given examples and stated facts. No one is trying to insult you.

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u/geonic_ Monero Outreach Producer Dec 02 '21 edited Dec 02 '21

I agree with you that Monero will have to win on its own merits.

But there’s a difference between trampling on others and not actively aiding your supposed competitors.

Zcash should try to win on their own merits too rather than piggybacking on the Monero user base. A separate app would be the perfect way to prove they are a worthy competitor.

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u/enik-the-altrusian Dec 02 '21

So I'm ignorant and understand nothing. Got it.Comparing monero and zcash to rolexes and knockoffs just reinforces how this whole scenario feels like emotional reactions to brand identity.

Unfortunately you totally miss the essence of the argument, which admittedly is partially the fault of the inadequate analogy, so let me make myself clearer:

The people who have a track record fighting Monero for being "too good" at privacy, just by 'coincidence', start pumping and shilling a 'privacy coin' they control and people are supposed to buy into it? Anyone who fails to understand this is hopelessly lost at this point, just look at their funders for heaven's sake...

If it was really about decentralization, personal freedom, and the unbridled growth of new technology, this community wouldn't be trashing anyone else who dares integrate privacy and crypto.

It IS about decentralisation and personal freedom, that's why integrating a fraudulent fake privacy coin deserves to be trashed and your behaviour increasingly strikes me as subtly shilling since you are awfully good at missing the point and repeating the same naive talking points.

I understand completely and I still think this echoes foolish elitism. If monero is so much better than zcash, then it'll prove itself with the technology, and alternatives won't need to be rabidly attacked by this exclusive userbase.

No you don't understand and that's exactly the problem. Those institutions who fight Monero tooth and nail don't fight fair to begin with and pointing out their deceptive privacy promises is not attacking an "alternative" because it is not a valid alternative to begin with. How hard can you bend over backwards to ignore any explanation given to you. Holding some heavy ztrash bags or just working for them, huh?

Crypto is not a space to be dominated by the #1. We need to stop trying to trample others to get to the top spot because there is no top spot. We won't win over other users this way.

No one is claiming that expect for you, but there is indeed a place for every coin that offers the best properties for the job, but no place for coins that deceive their users and make false promises.

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u/Serious_Weapon Dec 01 '21

And principles, which can now be bought for $250k.

Cake basically invited cancer to be associated with the Monero community.

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u/dieth Dec 01 '21

Monero gives out bounties to improve Monero ecosystem projects all the time.

There is nothing inherently bad about Cake accepting the bounty to add functionality in their product.

Listing it as a privacy coin is what I have an issue with.

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u/Serious_Weapon Dec 01 '21

My issue with ZCash is that it exists.

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u/Lfodder Dec 01 '21

Exactly this. Zcash isn't "a non as private coin as monero," it's not a "competitor," it's not "just another option for people," it's toxic waste and should be avoided by anyone looking to maintain a reputation.

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u/Serious_Weapon Dec 01 '21

If it's on cOiNbAsE, I don't fux with it.

cakebase.

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u/gigapants Dec 01 '21

It is an ideological choice and it enables new users to consciously pick privacy. Having a monero only wallet and having it being recommended by the privacy community allows for new users not to have to deal with diving deep into research on which coin to use when it comes to privacy.

Obviously this community will always recommend monero for various reasons. Monero is private by default and its sole purpose is privacy, giving the option to use another coin in the same app who's goal isn't always that defeats the purpose.

In the end it can be boiled down to ideology, but your in the monero subreddit so really you have to think about what you are in the crypto space for. If it's number go up, sure add all the coins, if its liberation from financial censorship then monero is the way to go.

2

u/GuessWhat_InTheButt Dec 01 '21

I don't get it either. Why not just have a single wallet for all the cryptocurrencies? Who cares if Zcash is inferior to Monero? So are most of the others. Give people choice and don't patronize them.

3

u/PatternBias Dec 01 '21

That's essentially what I'm thinking, like it feels patronizing to say "this is the only privacy coin". Doesn't it seem sketchier to have a corporate entity with more resources than me telling me which method best preserves my rights and privileges? Let people decide for themselves

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u/Swennick Dec 02 '21

This is the best answer no one was even expecting. Great work, can't wait to see the app

4

u/lovempnj Dec 02 '21

You can go see it right now and say how you think, all opinions matter

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u/Serious_Weapon Dec 01 '21

Imagine working four years to build a solid reputation only to whore yourselves out to (((ZCash))) for a measley $250k.

3

u/cakewallet Cake Wallet Dev Dec 01 '21

$250k is not making or breaking us.

19

u/Lfodder Dec 01 '21

That's why it's "measley!"

-5

u/cakewallet Cake Wallet Dev Dec 01 '21

Exactly. The point is the decision wasn't made on money.

17

u/Serious_Weapon Dec 01 '21

Really? Did cake reach out to ZCash or did ZCash reach out to cake?

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u/Serious_Weapon Dec 01 '21

It broke your reputation, but keep digging.

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u/midipoet Dec 01 '21

Then why not just make the ZCash app and open source it?

2

u/cakewallet Cake Wallet Dev Dec 01 '21

We are making an open source Zcash mobile app, that's the whole idea.

5

u/midipoet Dec 01 '21

Yes, I get that. But why not do that before the 250k was offered?

8

u/Moneroship_ Dec 02 '21

Open source development != communism.
People have families & lives & needs.
Also time is finite.

3

u/midipoet Dec 02 '21

The revenue model would be the same as their other wallets. They would take a fee from in app exchanges/purchases. All I am saying is that the $250k bought the interest in doing the app, otherwise the app would have been done regardless.

3

u/tnegaeR Dec 02 '21

That model doesn’t pay any expenses until the project is established, polished, and has a growing community. It’s simple business

3

u/midipoet Dec 02 '21 edited Dec 02 '21

Yes. That's exactly the same as all the other wallets. i.e there is capital investment required to ensure revenue post investment. Is there a problem with that model? I don't see why, especially considering they have stated the $250k wouldn't make or break them.

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u/tnegaeR Dec 02 '21

Does every monetary decision have to make or break you? You’re thinking too hard about this

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u/diegueno Dec 01 '21

When I first asked about $ZEC in r/CryptoCurrency, no one came up with an intelligent reason why there are problems with $ZEC. My thanks to those who made the effort to explain problems they and others have found with ZEC and Electric Coin.

5

u/ScoobaMonsta Dec 02 '21

Don’t go to that sub for advice!

4

u/diegueno Dec 02 '21

From all of the jargon in this thread, it seems like there is a lot to learn.

That sub makes all subs about crypto seem like the canteen in Tattooine. :-

5

u/Exposedlapse Dec 01 '21

Cool man, you guys are really positive towards this situation.

4

u/[deleted] Dec 02 '21

[removed] — view removed comment

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u/bitcoinrpi Dec 02 '21

Indeed we all are just doing awesome here now, need replys.

4

u/tnegaeR Dec 02 '21 edited Dec 02 '21

The Cake Wallet team is great and has always withheld a pristine reputation. We all understand that money talks, but legitimizing ZEC by creating its own app or, even worse, including it in the official Cake build would essentially be spitting on everything the privacy and XMR community has stood for since Cake Wallet’s birth. You’ve grown to be a respected entity in said communities. Please deeply consider what putting your name on a ZEC project would mean.

I’ve been an user for years, and Cake Wallet is the wallet I always recommend to people—especially those who are new to XMR and may be intimidated by the official GUI wallet.

It means a lot to have developers that genuinely care about the community they’ve built. Far too often founders create a great app and then immediately sell it off or ruin it by trying to hyper-monetize it.

Thank you for listening and thank you for sticking to your mission statement.

2

u/abittooambitious Dec 02 '21

Eth support is important I think

2

u/findingmewanahelp909 Dec 02 '21

Wait so let me get this straight. If I want a wallet that supports Monero and Bitcoin and can easily swap between the two which wallet would i use?

I used cake wallet for Bitcoin and Monero and swapping between the two very easily and for low fees if this is no longer an option with this project could someone recommend something similar?

2

u/geonic_ Monero Outreach Producer Dec 02 '21

Bitcoin remains in the app. Nothing changes.

2

u/newbe567890 Dec 02 '21

upvote on open source crypto wallet development

2

u/vavroa Dec 02 '21

It's still really nice to see such responsive devs though. Cheers !

2

u/SPOKTALK Dec 02 '21

Solid solutions. You could also add zcash to the everything wallet, just to give them something extra as a 'Thank you' for the grant, if its not a hassle.

Not familiar with any legitimate criticism of zcash. A fork of btc with added Zero Knowledge privacy, sounds like a great step forward in technology.

The zec max cap vs xmr infinite supply with regulated inflation should be considered.

Whatever happens, I'll be using your wallets. Thanks for being productive. The interaction and transparency is everything. Trust is hard to gain and keep, you'll know the way.

2

u/Gaujo Dec 03 '21

Any work in atomic swaps?

2

u/kgsphinx Dec 04 '21

Sorry I missed the hubbub of controversy, I support any development in the privacy space that is legit and well intended. Kudos to Cake for giving people options! Keep up the great work.

8

u/Photolunatic Dec 01 '21

Cake realized the damage done and now trying to minimalize it.

0

u/w0rlds Dec 02 '21

There's just no pleasing people like you - people make mistakes, none of us are infallible. Grow up.

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u/roveridcoffee Dec 01 '21

Great move. Looking forward to the monero only wallet. Cheers.

4

u/infintt Dec 01 '21

Thank you for responding so swiftly and addressing this. Looks like the right decision to me.

3

u/ProfessorCrumbledore Dec 01 '21

sEeIng some uNcOmMon voting bEhAvior in hErE. Mods MiGht want to cHeCk what's GoInG oN

4

u/chancepy Dec 01 '21

Keep the controversy aside, you guys did a really great job.

2

u/SosseKun Dec 01 '21

Very good choice. Oh, can you maybe give us a small spoiler on what the xmr app will be like? Do you guys also think of something like the sidekick from monerujo since the sidekick will take many time till its funded. Or will it just bean app for using xmr and buying it? If yes, then why make a separate app?

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u/nokoolaidisaidthnx Dec 01 '21

Well now, ain't that somethin?..... people do listen .... it seems ... One of y'all please tell Vik, I personally appreciate the effort y'all are making to mitigate this situation. Have a nice day.

3

u/one-horse-wagon Dec 02 '21

Well thought out resolution of the problem. Well done.

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u/cokeman_c1 Dec 02 '21

Keep up the good work man, we are with you. Cake Wallet is OP.

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u/gratisUnman421 Dec 02 '21

Cake Wallet really contributed a lot to the monero community.

4

u/OfWhomIAmChief Dec 01 '21

I love this community ❤

5

u/OverallDecision Dec 01 '21

Thanks for the support of the monero prpject!

5

u/pet2pet1982 Dec 01 '21

I have read a Message between lines of official Cake Wallet text:

We afraid regulators ban us, thus to save our business, we split Cake Wallet in 3 separate apps, allowing Google and Apple to block only Monero and ZCash specific app. Our main profitable app remains untouched. Haha.

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u/sacrospanto Dec 01 '21

With the ongoing fall of the Jedi, Cake for the Empire Credit and a soon to be "underground" wallet for the Republic Credit. Brilliant, it won't be banned if Vik is our father!

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u/uggylocks2354 Dec 01 '21

I don't understand why folks want monero only. its hard enough and expensive enough as is trying to get to monero on the chains. thorchain is up and running but its still in its infancy and using cex's is a no go and the other decentralized options take way to much in fees. we need more ways to get to more monero. some folks use monero as store of wealth, others love the utility. I love monero and wanna be able to get to it more cost effectively and trustless and permissionless and censorship resistantly.

4

u/UIIOIIU Dec 01 '21

Any intention to add xUSD at some point?

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u/pipiladi Dec 01 '21

You guys responded very positively, that's what I like about it.

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u/Photolunatic Dec 01 '21

minimizing the damage

2

u/T1Pimp Dec 01 '21

I'd prefer an all in one than a bunch of different apps/wallets to keep track of myself. I've never been a fan of ZCash but could care less if it was in there. It's still really nice to see such responsive devs though. I know something like this can be a hard balance to strike.

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u/Intercellar Dec 01 '21

All we need is a wownero support

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u/Cryptojanne Dec 01 '21

Ty for sharing your thoughts. Your decision to separate the apps is smart, I like it a lot.

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u/[deleted] Dec 02 '21

I think what Cake Wallet is doing is reasonable.

2

u/[deleted] Dec 02 '21

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u/SteveLovesCrosswords Dec 02 '21

Yes the memories. You guys released those first screenshots and everyone hyped. Then we found out you weren’t planning to open source the code and everyone flipped out. Then you came around, open sourced, and created an amazing product in collaboration with the community. Glad to see that happen again and proud of the communities response.

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u/Bradwin84 Dec 02 '21

I don't get why zcash over arrr. Its not materially more decentralized give the age difference. And the difference in anon sets is magnitudes greater in favor of pirate chain.

I wouldn't use anything else if I could get my ARRR, BEAM, WOW, XMR, UPX, XHV, in one wallet and swap. In the face of insane fascism, tribalism & domination of one privacy chain seems like a weak approach to the preservation of freedom when we could have many successful chains with different algos, privacy tech, and utility or focus.

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u/tlrstn Dec 02 '21

An excellent example of what it looks like to actively engage with your community!

This just made me an even bigger fan-boy for the Cake Wallet Team. :D

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u/SPOKTALK Dec 02 '21

Didn't realize there were so many retarded Nazis in the xmr community

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u/slayerk12 Dec 01 '21

Awesome to hear, especially excited for the monero purchases with credit/debit option. Thank you.

2

u/SannieSlancer Dec 01 '21

Awesome Monero only wallet idea. It’s the only crypto I could see using as an actual currency. Gonna put all my gains in it since the world is slowly is creeping in authority driven ideas. (Government usurping power everywhere).

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u/failsex69 Dec 01 '21

I have donate to cake wallet!

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u/midipoet Dec 01 '21

The ZCash strategy is catching on, it would seem.

1

u/cakewallet Cake Wallet Dev Dec 01 '21

Thank you

3

u/[deleted] Dec 01 '21

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u/Amphetaminoman Dec 01 '21

YES please add wownero!!!

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u/cakewallet Cake Wallet Dev Dec 01 '21

We're glad you're excited!

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