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]

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]

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

Or do you‍ mean market share?

 

[LegitBananas]

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 the︀ US, it's more likely for the US gov to meddle in their affairs

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

 

[cherry]

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

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

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

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

 

[Frankie]

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]

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 of︀ the more capable/smarter/faster/hard working/you name it - both to the benefit of the human race︁

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

 

[Frankie]

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, some︀ are just older / more popular than others.

Thank you for calling it wealth transfer because that's︃ all it is- a transfer of wealth from the first people in the ponzi to︄ 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 that︇ matter (Bitcoin included) does not create a single extra wealth in the world, as it's︈ all a zero-sum-game.

When someone builds a house - he created NEW wealth and added︉ 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 the︋ 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 best︍ to you 🙂

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

 

[void]

wrong... you missed this part
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 does︀ a bit better job here
unfortunately you didn't read my︃ post thoroughly.... I was talking about the free market as a motor of wealth transfer︄ not BTC (which is just a tool how to do it the right way)
actually the︆ exact opposite is true.... human race desperately needs perfect money to be able to continue︇ 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 caused︉ the undeniable decline of civilization
apples and︌ oranges... but you already made your mind so it's more convenient not to bother
brutal misunderstanding - actually every️ 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]

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

 

[Frankie]

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]

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....

wrong approach again... all this is︀ your subjective opinion/conclusion/preference not a fact (actually there are no facts... but that's a whole︁ different philosophical discussion 😀)
the market value in USD (as currently most generally accepted unit︂ 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