Re-brands, swaps, forks… always seem to happen just as markets start to recover and end with lower prices, loss of appeal, loss of history, loss of coins, wallet issues, wasting devs time, less coins… the whole idea is ridiculous. Who comes up with these mad unnecessary schemes??? There are all sorts of marketing reasons to KEEP zcoin. Privacy is fantastic. Leave well alone.
The sigma idea is stupid just from the point of view of search engines alone. Zcoin is a recognised coin that had an all time high of $140 and will exceed that in the future. Then there’s the exchanges having to mess about. STOP all this nonsense now. Amateurs!
If your average joe has heard of cryptocurrency at all it will probably be Bitcoin… ‘COIN’. Zcoin is short, which is good. Z suggests the be all and end all and has many marketing avenues open to it. Green matches the heart chakra, a subconcious universal appeal. Greenbacks come to mind, which can be seen as an attempt to introduce people’s money as opposed to a private bunch of criminals called the fed or royal mint’s money.
‘Pay’ is terrible… Navcoin have NAVpay as one of their wallets already. It sounds Mickey Mouse-ish, postal order, monopoly money.
This whole idea smacks of someone’s ego needing stroking.
I think the ‘Z’ associations across the board help all of these Z coins, a sort of cross pollination. If we make a big deal out of the Sigma element but keep the Zcoin name it suggests stability and innovaion. That way it’s win win all round.
“people don’t even know that the Z stands for zero coin” is a great point by AubreyMaturin given what’s happened.
On the subject of DASH… they spent a small fortune on marketing campaigns around the world. Who is going to do this for Zcoin? Gordon Bennett, I really liked this coin until I heard this garbage!
On another, but related, note… the market has been badly badly rigged since Tether reared it’s ugly head. High frequency bot trading is the only explanation for the ridiculous volume being produced with next to no gains eg. How can 4 x times the total supply of LTC trade in a week? I know no-one selling Litecoin. The regulators are into Bitfinex and Tether and probably soon into a few more of these criminal exchange operations. I hate regulation normally but in the case of crypto it’s sorely needed. Then there’s exchanges like HODLit coming online, VERI waiting in the wings etc. etc. All this translates to cryptocurrencies actually being worth multiples of times more than they are currently being traded at. Don’t kill the golden goose right at the moment when it’s about to lay Golden eggs.
If zcoin really need to re-brand, why dont you set up the better approach or hire a profession marketing, I think the approach you are doing right now is not a good idea because many people do not think about the important points of the name eg. easy to remember, easy to search, distinguish from other privacy.
I have provided ideas to help re-brand if necessary … but I have also, and still do, really question the need to re-brand.
I agree with the points made by catchingknives, TheFalseProfit and Wachi … is it really necessary … and is "E"igma the right way to go.
Like the old saying … “if it’s not broke don’t fix it” … Zcoin is a really good project … don’t mess it up.
Is the team just trying to distance themselves from past issues … or the perceived conflict with Zcash? … or is there a real reason we don’t know about that the name needs to change.
While it’s nice that you have a potential new logo (the Sigma sign, and it would be a nice transition from the Zcoin Z, I do question using it to pick the name especially starting with an E …
just because you have the Sigma doesn’t mean you need to use it … at least not as part of the name anyway.
Picking a name can make or break a company (or coin in this case).
I think the name should be chosen based on what the coin is going to mean to people that are going to use it … and until you get a clear picture of how Zcoin is going to really fit into the real world, I don’t think a name change is a good idea.
Just my personal opinion …
Gee … what about Zcoin … … …
Since I’m new here I’m not allowed to add another reply … so I need to edit this one and add some notes to respond to the following 3 responses … (I love this forum … ya right) …
More comments:
The Z can still stand for Zero-knowledge … a fundamental design integrated into Zcoin …
That’s why the name really doesn’t need to change from Zcoin …
since both Sigma and Lelantus continue to use Zero-Knowledge proofs in their design … that’s the nice thing.
I agree … spend the resources on making Zcoin even better … and give it some real world functionality …
something people can get excited about … then change the name if it makes sense …
A name that appeal to regular people who are not crypto nuts like us. A name too complex and weird and makes no sense won’t get accepted by masses. A easy, 1 to 2 syllables, a generic word. Need to be catchy.
Rebranding means changing your domain name, losing all your Google SEO credibility, re-educating everyone who may have heard of zcoin over the past three to four years that there is a new name for it, all very big considerations.
Meanwhile, I would say that it is more worthwhile to focus on big questions like, why should I use zcoin instead of Bitcoin? How can privacy be enabled by default with zcoin?
When will a new wallet be ready, and also then a mobile wallet that makes it easy to use from your phone?
With limited resources in the team, I would suggest that focusing on these more fundamental things are a better use of the time.
Yah we don’t need to rebrand. Time and resources could be better used elsewhere. With that being said. The z stands for something. And now we are transitioning to letantus. Not changing the name is like Tesla not rebranding after transitioning from electric to gasoline. The name no longer serve its purpose.
I recommend that a rebrand should be put on back burner for now since the team have bigger tasks at hand like Sigma release and new wallet GUI.
Rebrand can be considered when people know that the tech is there. Rebranding and not having suitable tech in place does not seem ideal strategy at the moment. (Timing is not ideal for a Rebrand right now)
Another thought …
Even after a new release (and if we have a rebrand) … imagine people getting interested in the tech and googling the ‘new name’ to find out more and not getting many search results as all past info (even news articles) are linked to Zcoin and then we’ll spend more time explaining to people that this is Zcoin (but rebranded) and has been around since 2016 and is not a new coin that popped up whenever the new name starts doing the rounds.
One thing to keep in mind though is that most people don’t even know that the Z stands for zero coin, and that that is a particular privacy algorithm, so while I agree that the name is not the best, and perhaps a better name could have been chosen originally, and that it might even be worthwhile to re-brand some point, I would think long and hard about whether it’s worthwhile to spend the resources on it now. A tough question, could go either way, either way I’m a supporter of the project.
Zcoin rebranding is unnecessary and will only lead to further confusion. Especially when valuable resources can be deployed for more purposeful/beneficial development (protocol, research, wallet(s), marketing, etc). A deep history has already been built in the Zcoin name and it would be shameful to see that cast aside.
I really believe a rebrand is a bad idea, it brakes the continuity of the project, allowing for questions, suspicions and confusion.
Zcoin was the first zerocoin implementation and many many projects have forked the code, i mean the name is pretty well known by now i even saw a coupple of projects ready fo fork Sigma as a fix to the broken zerocoin.
Miners are also familiar with it and its unique mtp algorithm and while you may underestimate their effect, in the end i believe they help spread awareness and decentralization.
Build it and they will come, the rest are marketing fanfare eating resources that can be spent to improve and secure the new protocol.
Unfortunately the zerocoin protocol turned out to be not so safe with 2 inflation bugs in 2.5 years of life (that we know of) but despite this zcoin was apreciated both in price and reputation, especially for its transparency.
If you are tired of explaining “zcoin is not a fork of zcash” consider when you get asked why rebrand, same answers over and over again, with the added implications above.
PS. I actually think Zcoin is a good name, better than all the ones mentioned here anyway and don’t get me started about the dash rebrand just DYOR all the info is out there, we don’t need another 0 privacy 100 marketing coin, or maybe you do, i don’t know.
i don`t see any reasons to rename. Zcoin is a good name and the Z stands for the zero knowlege proof. So it is not out of date.
It would only start more confusion and there is a high chance that the new name will suck. With Darkcoin there was a need to rebrand to Dash, but with ZCoin there isnt. Just look at other projects that just rebranded course of marketing. Raiblocks -> Nano. For me, Nano has no soul, it is boring. And it didnt really help them.
Stay with Zcoin and focus on getting the tech right. Right now we are a privacy coin without privacy. price is reflecting this.
Reading all the comments, much of the community seems rather against rebranding at this point in time.
If rebranding, it should be done only after the successful launch of Lelantus in my opinion, and at a time when the general crypto market winds are more favorable.
Rebranding is tricky, as mentioned by many in this thread, and can easily backfire.
A community vote should be considered about whether to rebrand or not, when to do it, and what brand name to chose once solid candidates are established through thoughtful consideration.
A new brand name must be ambitious, inspiring, even outstanding.
As I have been pondering, too, about this matter, let me propose a wild candidate for a brand new name:
Liberium
A substance that is highly desirable; the element of true freedom.
From the latin ‘liber’ which means ‘free’, it would be the currency of Liberty, which is the core value that our project intends to bring to the world.
So Charles Hoskinson from Cardano spoke his opinion on creating backdoors. He and Zcash guy are working together on Zcash for backdoor. People already confused with Zcash from zcoin. Who’s to say more people won’t do the same thing? We need to rebrand to distance ourselves from Zcash. Or obviously active marketing that zcoin is completely different from Zcash.
I’m still suggesting Vcash for new name. Looks better as a sticker on storefronts. More appealing than those weird, complicated names. Imagine renaming zcoin to Tiberium. No one knows what that is.
