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Im looking at the Poloniex ZEC/BTC trade and 1 ZEC is worth 1.19 BTC... why? and the all time high was 3300+ BTC per ZEC? I mean that's nonsense. Who would buy this thing?

I have concluded that ZCoin is trash since you have to trust the devs into deleting the masterkey, I have no idea what ZCash is all about to be honest.

This is simply a matter of low supply.  The Zcash mining cleverly designed to have 21 million bitcoins just like bitcoin, with a halving every 4 year, but one BIG difference, the first 34 days, the block reward starts at 0 end ends up at 12.5 ZEC per block (50 ZEC per 4 blocks of 2.5 minutes is comparable to 50 BTC per block per 10 minutes)


so on the first day, only 104 (or 83, if you don't count the 20% going to the devs) was mined, and in the first few hours, even less, so  some people pumped it up to 3300 btc, and keep it above 1000 for a few hours, since there was no one to sell it any significant quantity. Now it's like day 3 (or 4, I'm not counting) and the supply is still relatively low, and so a price above 1 BTC is only expected, it will slowly fade, and if you find a platform to short, shorting would be very wise, because for the next 30 days, the mining supply will increase rapidly.

What made that coin to spike to high was that there was 10 coins in the exchange and more than 1000BTC of buying orders. Don't buy it until the full block reward is reached, or you'll lose all your precious bitcoins.

I can remember Lisk was traded at 448BTC per lisk just after its release

It's just a cleverly designed coin that has exponentially decreasing prices due to the block reward. It was pretty much made to have an insanely high price, and then drop as time goes on due to the supply rising. Don't buy into it; unless some enormous dark market uses it as their main method of payment, It'll fade into oblivion.

Those highs are simply from buy orders of say 0.1 BTC at a 1000 BTC/ZEC price.

It doesn't cost a lot of bitcoin and you can fill the order for the lulz of messing with the statistics for one day.

Never look at the day 1 statistics to determine the price of a coin.

That, plus those trades we're probably made by same people aka. they bought their own coins just to show false image of price, to lure people into believing it's worth more.
Looking at it, just dropping straight down tho, with little dead cat bounces, makes me think that atleast in some point, there will be a chance to earn something on it daytrading,
but for the long run - i don't think much of it , despite all the hype.

that is true and when they saw that users got the bait they went down with the price
for me i didnt want to take any chances with this seem to fishy from the start to much for this to be true in my opinion
think that the price for this coin after all thing were settled and made like it should be will be around 0.1 btc max by me

the price of ZEC is still going crazy and yesterday this coin has reach the high price since first launch 3.58 BTC per 1 ZEC and in my opinion currently is the right time to trade this coin because the movement price and volume market is pretty good and i think i would go to poloniex and trade ZEC and i would not missed this chance

Price, after going below 1BTC, has now climbed back to 2BTC+. That's however certainly not viable and just a price manipulation.

Don't confuse with some coin you only heard about in August, rushed out a white paper and ico in September and started trading in October - zec and the protocol zerocash has been awaited and discussed on this forum alone since 2014.

Still, you'd be mad to buy any at this time - wait until the supply ramps up and zec enters an accumulation phase. This will be accompanied by lots of troll and fud threads about zec here - orchestrated by the accumulating whales.  ;D

Stupidity, that's what!

its weird guys. who the hell would buy an fresh coin for this ridc. price?? smells fishy to me

+1

Stupid speculators! Stupid speculators everywhere!  :P

I can't imagine that the price will be higher than 1btc for long, but it is good for speculation in the meantime!

I won't be buying any of this  ::)

The whales are using their strong muscle and trying for punch the zcash, All of this are the scenario and about at the first placed zcash are worth for 3300btc and totally it's already making a lot of the whales are lost. believe me some days later will below 1 btc again and got pumped again.

What the hell does supply matter with a coin as shitty as this?  If there is no demand, there's really no reason for it to have such an absurd valuation.

People are total suckers if they buy this crap, I'm sorry.  All the threads that got started for this piece of dung are probably all one buffet of alts created just to pump all the suckers out of their money.  Don't buy this shits.

+100

I will skip this one.

Zcash is nothing but a clone of bitcoind with a built in anonymity feature that is optional to use. By default your transactions are public, if you decide to make your transactions anonymous you would have to use the zero coin protocol feature which was originally proposed as a side chain for bitcoin. I do not know what happened with the zcash development team that made them decide to have their own blockchain and build the zero coin protocol and zk snarks on top of it.

Also what is zk snarks and how does it really work?

Blame the hype on coindesk

I am afraid when the Zcash dumping starts, lots of traders will be left speechless. It is a high-risk coin.

Only a moron would go long

This is something that should be expected from any coin launching and its not even to coins alone it cuts across stocks and shares that the premium is high in the first few days but as time goes on the real value sets in when the hype is no longer there and those giving the hype have moved on to something else or another project... You get to see the real potential of the coin so I say Give it Time whether it will live up to expectation or not...

Its already expected  that  this  hype would surely deplete on the  long  run.  Price of  zcash  when the  hype is  high  its almost 33k btc which  is really  expensive to  buy   and  now  it  drop +3000%  which  do i expect  that would  happen, doing short would  be  a nice move  because as of now the  price is too volatile  and  you could really make  money with it.

-ZCash is pre-game hype.
-Planned by a few fuck heads who think they;re smart just because they have the university degree.
-That's just really the altcoin concept,make whatever the fuck I want,sell to however the fuck I want.Fools gonna get trapped anyway.
-I'd answer your question,Z-cash is all about the crap bitcoin never failed to provide.And they failed terribly.
-Wait for the day,you will see you can buy 1 zcash with 1 satoshi.

Hell yeah 1 zec for 1 sat!! I can't believe people buying zcash for 3300+ BTC per ZEC. and even mining companies like genesis and hashflare offering contracts. Hashflare is like, we will start mining Zcash from December and you have to preorder now!. Why so the price could crash to 1 sat?? and all who invested in mining power could never ROI in their life?? Zcash is doomed to crash in it's value. I am not even going to point my miner to it. To hell with Zcash!!

I think hype smells like spoiled salmon IIRC.

"Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Zcash." http://www.coindesk.com/what-is-the-value-zcash-market-searches-answers/

Nice of Coindesk to tell us this. Still does not make it right in my eyes.

The whole coin screams pump and dump scam.

and now the price is really down to deep and maybe this project is not good as in the first launch because the zec can not survive in the good price in just less than two weeks and its only good in first weeks. i wonder what will the dev do when they know that the coins is going down to deep like now.

At that time they are going to make another shitcoin with a great marketing !

I'd say that Barry E. Silbert is simply expanding his horizons: https://en.wikipedia.org/wiki/NASDAQ_Private_Market


He and/or his partners continually need to broaden their reach in this space so to keep their investor clients interested so that they'll be more inclined to reach deeper into their fiat wallets, directing such toward the crypto space. Zcash to the da moon till the next nefarious el shitto coin is el pumpo.

Let's see what Number One at CoinDesk has to say, eh?: https://twitter.com/twobitidiot/status/766541669470654464

https://i.imgur.com/P0gCPMU.png

https://twitter.com/twobitidiot/status/779795049022357508

https://i.imgur.com/Dogp5QU.png

http://grayscale.co/faq/


Translated: Retards with deep pockets able and willing to invest in whatever we tell them, with the flavor this month being Zcash.

Why Zooko no longer come 'round these here parts? https://bitcointalk.org/index.php?action=profile;u=904