What happened with ZCash (ZEC) ?

[Houdini]

I just read an old article in the Mentor Group where they talk about Zcash. I then searched for this crypto coin, but I can't find it on any of the lists I checked. Has it disappeared like so many others?

The article in mentor group is from Dec. 2020
[IMG alt="JohnLocke"]http://localhost/data/avatars/s/0/2.jpg?1727588469[/IMG]

Thread 'How To Make Sure Your Cryptocurrency Transactions Are 100% Anonymous ”“ Step By Step Guidance'​

Dec 5, 2020

A couple of decades online, everyone wanted to be on the Internet. People used to share their names and ideas online, only for their names to show up in search engines. These days, in a world where digital choices can affect everyday lives, more and more people try to keep anonymous. Hiding who you are on the digital market can be tricky though, as there are always footprints behind your actions.

The same rule applies to cryptocurrency. While rated to be quite anonymous and difficult to trace, using it may still leave some marks. For instance, most people do not realize...

• JohnLocke
• anonymous cryptocurrency cryptocurrency
• Replies: 17
• Forum: Mentor Group Gold Tips & Guides

 

[JackAlabama]

well it was a thing way back. But like every shitcoin, its becoming irrelevant.
You can find it on coingecko (ZEC).

 

[daniels27]

This one?
https://z.cash/
https://coinmarketcap.com/currencies/zcash/

Looking at the chart, it became a shitcoin fairly quick (or has been very stable after some quick peak as you like to put it).

 

[sebastian]

But the question is, why is it fading out? I mean, XMR is also anonymous, and it's still surviving, for now at least.

If Zcash is anonymous, then why aren't more people using it?

 

[namesareforothers]

because it has a foundation taking a large cut, it isn't private by default, they have great tech but are assholes, bent a knee to anti anonymity gov measures, less than 1% of the dark web used it, suffered 51% attack, etc.

 

[diro]

That means they are not anonymous any longer as they were used to in the past ?

 

[namesareforothers]

diro said:
That means they are not anonymous any longer as they were used to in the past ?
Click to expand...

when an anonymous transaction is among a bunch of clear ones, it becomes easier to identify it. The IRS posted a reward for breaking Monero not Zcash (could be because the added features zcash implemented to comply with govs). For privacy and encryption related subjects, I believe one can only rely on open source projects; being a company settled in one of the most spy focused nations.

 

[JohnnyDoe]

I used to like ZEC, as well as DASH. But the natural selection process favored XMR. It would be nice to see more competition in this niche, but it requires some balls today to come out with a serious project that is openly against all the gov's bs rules and regulations.

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[LegitBananas]

Monero = Telegram

ZCash = Signal

 

[cherry]

LegitBananas said:
Monero = Telegram

ZCash = Signal
Click to expand...

Not sure this is correct. I prioritise Monero and Signal because they're the more private options.

Or do you mean market share?

 

[LegitBananas]

cherry said:
Not sure this is correct. I prioritise Monero and Signal because they're the more private options.

Or do you mean market share?
Click to expand...

Well, I just mean that monero and telegram are often preferred by lots of privacy advocates, whereas ZCash is hated by much of the crypto community because of the developer team behind it

many people distrust Signal and would rather use Telegram (although Telegram is not encrypted by default) because they might not trust that the Signal devs published the same version of the app that is audited in the open source codebase. And because they're in the US, it's more likely for the US gov to meddle in their affairs

Not saying they're right or wrong BTW, that has just been my observation

 

[cherry]

LegitBananas said:
Well, I just mean that monero and telegram are often preferred by lots of privacy advocates, whereas ZCash is hated by much of the crypto community because of the developer team behind it

many people distrust Signal and would rather use Telegram (although Telegram is not encrypted by default) because they might not trust that the Signal devs published the same version of the app that is audited in the open source codebase. And because they're in the US, it's more likely for the US gov to meddle in their affairs

Not saying they're right or wrong BTW, that has just been my observation
Click to expand...

The concerns about Signal are correct. The head as a strong ex-CIA vibe to her.

I download the .apk file and compare the decompiled code before installing it on my GrapheneOS. It checks out. But Apple's App Store, it's impossible to know.

Preferred messengers are Session and SimpleX these days. I still use Signal for normies to reach me on as it's the closest user experience to WhatsApp (and it's damn hard to explain to them that I'm not on WhatsApp).

Telegram seems compromised ever since the Pavel Durov's arrest and the new TOS he published. Hence why I'd compare Telegram more to ZCash.

 

[Frankie]

sebastian said:
But the question is, why is it fading out? I mean, XMR is also anonymous, and it's still surviving, for now at least.
Click to expand...

Most people view Crypto as just a big casino. Nobody even pretends to care about the tech anymore.
XMR, ZCASH, have great tech and ACTUAL USES. But they are not good for speculation therefore people don't care.

 

[void]

Frankie said:
Most people view Crypto as just a big casino. Nobody even pretends to care about the tech anymore.
XMR, ZCASH, have great tech and ACTUAL USES. But they are not good for speculation therefore people don't care.
Click to expand...

technological quality is the precondition, not the goal
speculation on the free market (doesn't matter whether motivated by greed, despair or edge of any kind) is a positive thing without exceptions... it helps to find the fair price of assets (making them cheaper if overpriced or more expensive if scarce or qualitatively superior) and to transfer wealth (economical energy) to the hands of the more capable/smarter/faster/hard working/you name it - both to the benefit of the human race

bitcoin didn't win because of its technical properties (despite being undeniably ingenious) but because these properties (and other circumstances) allowed the restoration of the balance in the galaxy by restoring the free market and disallowing cheating (not using law but by imposing physical constraints)

 

[Frankie]

void said:
bitcoin didn't win because of its technical properties (despite being undeniably ingenious) but because these properties (and other circumstances) allowed the restoration of the balance in the galaxy by restoring the free market and disallowing cheating (not using law but by imposing physical constraints)
Click to expand...

Everything you say about Bitcoin can be said about Ethereum as well. But even more so since Ethereum you can also run smart contracts so it's utility is even HIGHER, it's actually useful.
But it doesn't matter because it's all just memes.

Bitcoin won because it was the first meme. All Crypto coins are memes, some are just older / more popular than others.

void said:
transfer wealth (economical energy) to the hands of the more capable/smarter/faster/hard working/you name it - both to the benefit of the human race
Click to expand...

Thank you for calling it wealth transfer because that's all it is- a transfer of wealth from the first people in the ponzi to the last people in the ponzi.

There is no benefit here to the human race, apart from creating liquidity for the masterminds of the ponzi and making the spread tighter.

Trump launching his coin or Melanie launching her coin, or any other coin for that matter (Bitcoin included) does not create a single extra wealth in the world, as it's all a zero-sum-game.

When someone builds a house - he created NEW wealth and added to the wealth of his nation.
But 2 people who exchange Crypto didn't create anything, apart from creating some profits for the electricity company.

In fact maybe this is the real utility of cryptocurrency - creating a decentralized system for running ponzi schemes.

But hey, if you managed to buy cheap and now sell to FOMO-ing idiots, all the best to you 🙂

I made some nice money from Crypto but I can still see it for what it is- a system where money moves from the FOMO-people to the early people... now what is the name for such a system?

 

[void]

Frankie said:
Everything you say about Bitcoin can be said about Ethereum as well. But even more so since Ethereum you can also run smart contracts so it's utility is even HIGHER, it's actually useful.
Click to expand...

wrong... you missed this part

void said:
imposing physical constraints
Click to expand...

actually ETH had some chance to compete with BTC until they (I mean those who control ETH) decided to shoot themselves into their leg and rob the holders and especially miners by switching to PoS
now it's just an expensive playground for development of mostly temporarily popular gadgets... and I'm afraid that Solana does a bit better job here

Frankie said:
Thank you for calling it wealth transfer because that's all it is- a transfer of wealth from the first people in the ponzi to the last people in the ponzi.
Click to expand...

unfortunately you didn't read my post thoroughly.... I was talking about the free market as a motor of wealth transfer not BTC (which is just a tool how to do it the right way)

Frankie said:
There is no benefit here to the human race, apart from creating liquidity for the masterminds of the ponzi and making the spread tighter.
Click to expand...

actually the exact opposite is true.... human race desperately needs perfect money to be able to continue in free trading which is something that made humans the (temporarily) winning species on Earth... and the failure to preserve this utterly important liberty in the last 100 years caused the undeniable decline of civilization

Frankie said:
Trump launching his coin or Melanie launching her coin, or any other coin for that matter (Bitcoin included) does not create a single extra wealth in the world, as it's all a zero-sum-game.
Click to expand...

apples and oranges... but you already made your mind so it's more convenient not to bother

Frankie said:
When someone builds a house - he created NEW wealth and added to the wealth of his nation.
But 2 people who exchange Crypto didn't create anything, apart from creating some profits for the electricity company.
Click to expand...

brutal misunderstanding - actually every trade done in the free market creates wealth on both sides - it satisfied the needs of both participants and they (by definition) got something more valuable for something less valuable - this is the way how humans conquered this planet... not by fighting for every meal like animals but by specialization, trading and being able to conserve value (power used) through money

value is subjective.... capital grows with every free trade - once you accept this you will understand everything

 

[cherry]

Frankie said:
Bitcoin won because it was the first meme. All Crypto coins are memes, some are just older / more popular than others.
Click to expand...

Exactly this. BTC is already an outdated technology compared to its successors. It's only the highest price because it was first and is a household name. When people move on, BTC goes the way of the dodo.

Frankie said:
There is no benefit here to the human race, apart from creating liquidity for the masterminds of the ponzi and making the spread tighter.
Click to expand...

Here I would say there is a benefit: Decentralised currency that the government can't touch. But BTC is now cucked to the government.

 

[Frankie]

void said:
actually every trade done in the free market creates wealth on both sides
Click to expand...

In general I agree.

But can you explain to me what value was created by BTC at $100k that was not available at $16k or at $1k?

In fact the actualy usefulness of BTC was even greater when BTC was cheaper as the fees and speed was faster. BTC is inferior to most other coins, it is more expensive, slower, with higher fees etc etc etc.
It is simply the "first" meme coin.

But it's fine, we don't have to agree.

 

[void]

Frankie said:
But can you explain to me what value was created by BTC at $100k that was not available at $16k or at $1k?
Click to expand...

sorry, I don't understand this question... it's still the same bitcoin - only the market value in another unit of account (USD in this case) changes as the participants value it differently through the time....

Frankie said:
In fact the actualy usefulness of BTC was even greater when BTC was cheaper as the fees and speed was faster. BTC is inferior to most other coins, it is more expensive, slower, with higher fees etc etc etc.
It is simply the "first" meme coin.
Click to expand...

wrong approach again... all this is your subjective opinion/conclusion/preference not a fact (actually there are no facts... but that's a whole different philosophical discussion 😀)
the market value in USD (as currently most generally accepted unit of account) confirms that the majority (of capital) thinks otherwise

 

[anotherone]

current situation is as follows:

• Binance only accepts transparent ZEC t-address (no privacy)
• Kraken only accepts transparent ZEC t-address (no privacy)
• Gemini accepts both transparent and shielded ZEC addresses