Thoughts on Zcash?

[Zorky]

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[ahmedjadoon]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

[virasog]

Bitcoin Forum > Alternate cryptocurrencies > Altcoin Discussion > Post reply ( Re: Thoughts on Zcash? )

Interesting (and entertaining) article about the ceremony:

The Crazy Security Behind the Birth of Zcash, the Inside Story
http://spectrum.ieee.org/tech-talk/computing/networks/the-crazy-security-behind-the-birth-of-zcash

It is too early. When there is a pump of the ZCash price, this story might help.

I think the price will continue on the down trend for now, nobody is using this coin and the hype surrounding it is dieing gradually and has the token distribution even out the price will then find its equilibrium price in the market

I am having the same thoughts about Zcash. Zcash brings innovation to the table but it still has some work to do. The team has to refine the algorithm and must make sure the wallets are working well with both z and t addresses.

[densuj]

Interesting (and entertaining) article about the ceremony:

The Crazy Security Behind the Birth of Zcash, the Inside Story
http://spectrum.ieee.org/tech-talk/computing/networks/the-crazy-security-behind-the-birth-of-zcash

It is too early. When there is a pump of the ZCash price, this story might help.

I think the price will continue on the down trend for now, nobody is using this coin and the hype surrounding it is dieing gradually and has the token distribution even out the price will then find its equilibrium price in the market

I am having the same thoughts about Zcash. Zcash brings innovation to the table but it still has some work to do. The team has to refine the algorithm and must make sure the wallets are working well with both z and t addresses.

So ZCash is not stable yet, although just for ZCash's wallet but there is other service for ZCash's wallet except from the developer of ZCash.
We can use https://jaxx.io for ZCash's wallet, it is safe there are no problem at least for right now and in my experience.

[hyc]

But jaxx also doesn't support z addresses. Zcash privacy is still a joke, essentially nonexistent. The only thing that works is its plain old bitcoin addresses and transactions.

[Buthenis]

I never believe on zcash. it's quite dreamy coin.
who has bought ZEC with price 10 or 100BTC , I do not know what they were thinking about?
Now I just only buy BTC , DASH .

[stomachgrowls]

I never believe on zcash. it's quite dreamy coin.
who has bought ZEC with price 10 or 100BTC , I do not know what they were thinking about?
Now I just only buy BTC , DASH .

Its not a dreamy coin but definitely a worst nightmare for those who invest or buy on ZEC on insane prices and i dont know if this coin would able to rise its price again but i dont think it would happen.This coin would stabilize its price on <0.004-0.006 and it wont go up its price anytime soon even those so called z privacy i dont see anything special on it.

[ramdomi]

The zcash team is not stupid. I think they have big plans for this coin.  I will keep watching for when the price finally bottoms out and buy and hold. As coins go, its the best bet out there if you like to speculate.

[asriloni]

The zcash team is not stupid. I think they have big plans for this coin.  I will keep watching for when the price finally bottoms out and buy and hold. As coins go, its the best bet out there if you like to speculate.

The big plan for making another silly coin with big hype at the first time and be a fucking worthless coin with a lot of dumps in the end of the coin. with a lot of the percentage be a reward for the dev and that's so pretty shitty.

[Matkurb]

The zcash team is not stupid. I think they have big plans for this coin.  I will keep watching for when the price finally bottoms out and buy and hold. As coins go, its the best bet out there if you like to speculate.

The big plan for making another silly coin with big hype at the first time and be a fucking worthless coin with a lot of dumps in the end of the coin. with a lot of the percentage be a reward for the dev and that's so pretty shitty.

ZCash has good development. So it is a good coin.

[c789]

The coin may have good developers, but that makes almost no difference if the coin itself has serious flaws. Piggybacking on hyc's comment above, the coin can't be considered to be private due to several factors:

Zcash requires a Trusted Setup. This means that you have to trust that the Zcash system was set up without any backdoors, potential for eavsdropping or monitoring of your transactions, or any other nefarious purposes. As we've seen with virtually all large software companies, such as Microsoft, Apple, and even governments, they can't be trusted. Trusting people you don't know in those positions makes no sense. Trusting in only math is better.

A Trusted Setup system also means that the Zcash developers could produce more Zcash at any time without anyone knowing (https://blog.okturtles.com/2016/03/the-zcash-catch/), thus inflating the Zcash economy while making themselves rich. If a hacker gained access to the system, he could do the same thing...and nobody would necessarily know. Look at the comments at the bottom of the okturtles article and see how the Zcash team evaded answers about this. Their not giving a straight answer after several attempts to get a straight answer only fosters more doubt as to their trustworthiness.

Despite all of the famous academic, banking, and industry personnel involved with Zcash, it seems to have serious trust issues, especially for an open-source project. As you can see from their backgrounds, some of them come from banking and government, both of which have earned the reputation of being untrustworthy. Why would you want to trust your private finances to an organization led by people with those backgrounds - the same organizations which want to control your finances and restrict your privacy?

See also http://weuse.cash/2016/06/09/btc-xmr-zcash/

[hyc]

No, Zcash does NOT have good developers. They've been working on it since 2013 and they still launched version 1.0.0 with *totally broken* z transactions, the primary feature of their coin. This makes them either incompetent or dishonest, parading out a huge launch release with a complete absence of support for privacy. And they didn't fix it right in 1.0.1 or 1.0.2. Anyone who thinks they have a good development team is seriously deluded.

[andron8383]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

Yea people can forgot about that because of development tax ^^.
When developer will be "hacked" ZEC will meet disaster.
Coin for me have high inflation and was OVERhyped to moon.

[Hasbalin]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

Yea people can forgot about that because of development tax ^^.
When developer will be "hacked" ZEC will meet disaster.
Coin for me have high inflation and was OVERhyped to moon.

If you hold for the long term, the inflation will reduce, like the bitcoin.

[Zeta0S]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

[JeffBrad12]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

I was believing it, You have made the huge profit in the first 40 hours. The hype of ZEC still bigger. And even it was touching 3.5k hype. Totally makes sense.   

[nisya]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

I was believing it, You have made the huge profit in the first 40 hours. The hype of ZEC still bigger. And even it was touching 3.5k hype. Totally makes sense.   

many people is getting huge profit in the first 40 hours, but for now i think it was difficult to make profit because its down for a while but i hope the price will be up again.

[tripwirearmpit]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

I was believing it, You have made the huge profit in the first 40 hours. The hype of ZEC still bigger. And even it was touching 3.5k hype. Totally makes sense.  

This hype is crazy and it cant be sustained.

My 0.02$

[Palider]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

I was believing it, You have made the huge profit in the first 40 hours. The hype of ZEC still bigger. And even it was touching 3.5k hype. Totally makes sense.  

This hype is crazy and it cant be sustained.

My 0.02$

There is no hype, the price is still below $50.

[tripwirearmpit]

Who made any profit mining this coin?
So much hype about 1ZEC=1 BTC.

I did made huge profit in the first 40 hours.

I was believing it, You have made the huge profit in the first 40 hours. The hype of ZEC still bigger. And even it was touching 3.5k hype. Totally makes sense.  

This hype is crazy and it cant be sustained.

My 0.02$

There is no hype, the price is still below $50.

Your blind man. The hype is strong. Everyday coindesk, cointelegraph ect are writing articles about zcash. You must be blind to miss them.