Bitcoin Forum

https://www.coindesk.com/edward-snowden-zcash-is-most-interesting-bitcoin-alternative/

Surprised that Zcash's price hasn't spiked.

You have heard the saying: Buy the rumor, Sell the news. Rumors of the Snowden tweet must have leaked out earlier yesterday when it spiked to just above $400, now that its officially news people are selling. Same thing happened back when the JP Morgan news broke.

Good point.

But, they sold the news so much that it's back to where it was before the spike.

Edward Snowden is not exactly one of the influencial figures in cryptocurrency world
thats why the price was not influenced in any way,hell even Dimon's outbursts are
not affecting bitcoin price anymore,people understand that whoever makes the statememts
are the ones who have an axe to grind or direct interest in driving the price either way

I see Edward Snowden being relevant few years ago, but after his exposé about the NSA's inner doings, I don't see his opinion having any weight most especially in cryptocurrencies. Cyber security issues, I might give him a shot, but this is way beyond his line in my opinion. But amazingly his positive remarks about Zcash caused some positive gains for a few while before it went back down again.

After posting by the technologist Mason Borda that said "Zcash is the only altcoin (that I know) designed and built by professional and academic cryptographers. Hard to ignore, "Snowden replied that he agreed and completed that" Zcash's privacy technology makes it the most interesting alternative to Bitcoin. Bitcoin is great, but if it's not private, it's not safe. " With a gigantic community growing every day is a fact that Zcash will just have more supporters that will be expecting a revolutionary technology.

Your timing is off, but I think the logic is correct. The tweet was made well after the top was in, and the ZCASH price has already dumped significantly. I think the rumor/news event was Bithumb (South Korea's biggest exchange) adding ZCASH trading: https://z.cash/blog/zcash-on-bithumb.html

There were actually allegations of manipulation / insider trading floating around. Supposedly, a Bithumb employee revealed that the company planned to integrate the currency, and insiders accumulated positions before the pump.

Good point.

It's amazing that people are listening to Paris Hilton's and Floyd Mayweather's recommendations on ICOs.

why should we care what someone who's probably completely out of the loop thinks? he's definitely a name. zcash was created in a ceremony that requires you to trust six people. that doesn't sound like the type of thing snowden should be endorsing or anything that resembles how crypto should truly work.

The only good to come of that is in exposing crypto to a wider population, IMO.  ICOs can buy celebrity endorsements if they choose to waste money in that way.  Speaks to me regarding the competencies and funding priorities of those behind the ICOs.



He's entitled to his opinion, but yeah I found the ceremony a little unusual to be honest.  Theater.

He's entitled to his opinion, and we're entitled to disregard it.  I haven't researched zcash to form any opinion on it or its cryptographic attributes.  Not sure at all who the team is behind it, but I am cautious of "professional and academic cryptographers" without a code review and audit by multiple completely disinterested parties.  Those types are only employed by a limited number of organizations and/or dependent on grant funding from same organizations and there's clear evidence of some of those organizations planting back doors, RNG weaknesses, etc., into everything they can.

Yeah it seems that the cryptocurrency world doesn't take Snowden word for anything, though it's good to invest in other cryptos, without a doubt people are very much focused on bitcoins at the moment and now that they value is rising again why would anyone bother about Zcash even Bitcoin Cash has sinked into oblivion.

Just because something is interesting does not mean that there is any value to it. I find guns interesting, but there's no value in saying that a, for example, HK416 is more interesting than an AR-15 or something along those lines. If I said that there is a significant difference where one or the other has a major advantage, as a big name in the field, then that has a lot more bearing than just saying that something is an "interesting alternative". That's the art of speaking in vague terms.

The operative word here is 'alternative'. Bitcoin is still king, and it will continue to be in the foreseeable future.

It also looks like Snowden made his statement under the context of privacy and security. He's a privacy advocate after all. If you want to be un traceable in the internet, it would probably do you good to listen to him. If you want to invest and earn cash, he's hardly an authority on the subject matter.

Snowden isn't exactly most influential person, he is consider hacker and whistle-blower in the US and a criminal, people have different opinions about him some think what he did was good but some think same as the US government. So his word doesn't mean much.

It has... But the thing is that ZCash founders are taking a cut from mining profits and there is a hard fork of ZCash called ZClassic that is currently operating which doesn't take the cut. ZCash founders essenitally get 2.1 mil ZCash for doing nothing.

Plus, ZCash's privacy is optional. It can operate just like bitcoin, and every transaction can be seen.

I think bitcoin is adequate if ZCash only has optional privacy anyways, as long as you use a bitcoin mixer and don't reuse bitcoin addresses there is very little chance you'll get traced.

Lol.  I'm even more surprised he prefers Zcash over Monero.  Well he prolly bought a lot of Zcash and has now started shilling it.  What's new...  All the people I come across in the space are all shills but they don't know they're shills yet.  ;)

- Stolen from CDR.

What do you expect, dude? That every time someone who has a name speaks about bitcoin, the value will automatically react big time, causing spikes? I will leave BTC for good if that is the case. I don't like it when some shit, however how powerful he or she is, criticizes bitcoin and people will expect that the value will be greatly affected.

I saw the new zcash demo and a friend of mine interviewed the founder. This project is seriously promising, just letting you all know.

I do have some Zcash fraction ...

mined after that crazy boot ceremony

https://youtu.be/D6dY-3x3teM?t=1m20s (https://youtu.be/D6dY-3x3teM?t=1m20s)

This is just kind of the way to shilling for zcash, But the recent update about the zstarks makes me interested with it. At least zcash should be considered as an alternative way to get the privacy. But monero still become the best anon coin.

He is not informed or is invested.

He also called Monero developers amateurs. With other words he called Satoshi an amateur. Just because he was not employed by Bitcoin.

well feels like an advertisement for me. its good and might boost the coin value. its now wrong thought.  and snowden is a good person and the right person that fit cryptocurrency adverstisement

Exactly, bitcoin is not the most anonymous coin out there but the coins that have anonymity as their main focus have many other problems that are not small, many people complain about the fees, the speed of confirmations and the lack of scalability of bitcoin however a coin like Monero has scaling issues that makes bitcoin scaling issues to look like not a big deal.

Or think that the market is much mature, it doesn't get manipulated by people talking about it.
Zcash and Monero surely are better but might get the worst treatment when regulated.

Edward Snowden is lier:

I do not think that good spy can trust TRUSTED SETUP options. Shortly to lunch zkSNARK they needed to have a CODE. This CODE is a key to all transactions when they are hiden (when you send it with Z in adress, so everyone can see that you hiding something )

Developers say that CODE was destroyed.

We need to trust developers.

It is very naive to think that everyone around is so stupid. This bansters and govs attemp is very silly. JP Morgen attemp to control transactions and hiden transactions is impressive but hopefully it will not succes

Obviously Edward Snowden love cash. I mean not Bitcoin Cash. Plain cash. OMG you know what I mean right? ;D

Zcash was not launched fairly.. it's a rigged me too anon coin.

I never read people that invest in crypto for a long time saying good things about ZCash. I only read people that have start know.

I'm not surprised about this dump&pumps at ZCash at all. Market is very unstable now and any kind of news make significant shifts. Especially at those coins which were not be pumped last few weeks.

interessting that Snowden is for an american coin =))
verry funny

Who is Edward Snowden in crypto world? I think he is no one. And his opinion doesn't weigh cent. That's why the value do not react on his words. It is just a marketing mix. Don't take all statements of celebrities seriously.

I don't think Snowden has enough influence in the crypo  space that what he says can cause a spike in the price. I follow him on Twitter, i already like Z cash but his statement didn't make me want to go buy. However I do think that his statement will make some people to take notice of the coin.

at this stage of the game coins need PR and adoption....which is what this is

Really? He called satoshi an amateur? It would be nice to get a link of that if you have it, now satoshi is revered here, but since he is a human then it is obvious he is not perfect but he knew what he was doing, many people have thought of something like bitcoin for a very long time and he was the first to make it a reality, so it is obvious that he was anything but an amateur.

Zcash is one of the interseting coins after bitcoin out there. With snowden or without snowden, Zcash will see some nice uptrends in the next couple of years. Its a strong hold for everyone!

You are correct but many that value their privacy and anonymity look up to him so while I do not think his statements holds much ground for most people here in the forum, there is a small amount of security conscious users that will listen to his words and take them into consideration.

Sounds like something that a guy heavily invested in Zcash would say...

I could understand why he would choose Zcash instead of Monero, it is mostly due to the mining competition. I am curious to see his opinions on Ethereum.