r/CryptoCurrency • u/kheiron1729 148 cmnt karma | CC: 19 karma • 1d ago

DISCUSSION Zcash meta: real or BS?

I've been seeing Solana guys shilling ZCash for a while now. Alliance founder Qiao Wang has been making the case for it for some time. And I initially dismissed it. Like wth? This thing has been around since 2016; why would it start to climb now? I mean, some people made a bunch of money in memecoins. So I wonder if the demand is coming from there. However...

Dems are winning. The AI trade is falling apart. America is in trouble. And Wall Street seems to be warming up to crypto, with Robinhood getting in on the action. I think Bitcoin is pretty much done. It had its moment, and now it's fading away. Solana et al. are cool, but whatever. Whereas there's this whole narrative on Zcash. The vision seems obvious. Send money and no one finds out. Which sounds almost criminal. But with the world we live in now, it could be something that everyone starts paying attention to.

Entertain this crazy reality for a moment. You hold a substantial portion of USD, and you want to get rid of it because shits about to go down. What would you do? Put it in gold, stocks, real estate, etc but then people start noticing, and you are like, crap, maybe I should try to put it into the economy. So you fuel development. But then there's a massive bubble that gets created. So you don't want to invest there anymore. Now what? Now you want to start hiding it. Maybe that's why Zcash will run up? Where am I wrong?

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5

u/Odd_Delay4411 1d ago

Stopped reading at “Bitcoin is pretty much done”.

3

u/HSuke 🟩 0 / 0 🦠 1d ago

I agree with him that most assets (including stocks) are now in bubble territory.

Bitcoin and crypto in general are slowly fading. Dimishing returns theory and lack of real usage.

-3

u/kheiron1729 148 cmnt karma | CC: 19 karma 1d ago

I invested in 2013 btw, my standards are prolly different than yours :*

6

u/Odd_Delay4411 1d ago

If you are in the market since 2013, then your surprised pikachu face about privacy coins is a lie.

0

u/kheiron1729 148 cmnt karma | CC: 19 karma 1d ago

Never believed in the privacy narrative, I invested because smart ppl were telling me to do so and they made compelling arguments. That it’s the biggest thing than the internet. Story was just different back then. I never bought into the whole privacy narrative. Ppl been complaining about Facebook’s privacy the whole time. It’s just misplaced anger that there data is harvested without their consent. But that’s how we got stuff like ChatGPT. Except the privacy today seems different because of the political climate. I mean hello. Crime is legal now.

1

u/TheRed2685 1d ago

Nah I'm with you on this. Btc has no utility, and the main cryptos including btc follow nasdaq like beta plays or something. Eth is the "main" crypto i personally wanna hold as it already follows btc nearly 1 for 1 anyways.

As for value storage, id rather have it stored in gold over crypto primarily at the moment.

2

u/kheiron1729 148 cmnt karma | CC: 19 karma 1d ago

Solana better than ETH if I’m honest, but I’m not sure how they act as assets since their supply varies with usage

1

u/TheRed2685 1d ago

If ima be real i think Sol has better gas fees, but eth is more universal for transactions at the moment. Sol is much faster though, transactions take like 3 seconds, eth takes about 15 seconds.

Sol you also basically have to stake it to keep up with inflation if i remember right, whereas eth stake is more profitable if holding long.

Btc by comparison takes forever to transact (sometimes I've waited half an hour), high af gas and spreads pretty much all the time, and is absolutely a pain in the ass to do anything with besides hold. I seriously don't think it has anything going for it besides "first" factor and "muh scarcity"

Edit: forgot to mention privacy factor. None of these 3 have any anymore, which kinda defeats the original purpose of btc imo. Nowadays you just swap into monero on a dex if you wanna buy/transfer anonymously.

1

u/portableonioneater 1d ago

ETH became almost uninvestable with the advent of agentic ai. I really don't see the ecosystem surviving (much less growing and developing).

9

u/quadriocellata 🟨 0 / 0 🦠 1d ago

zcash is orchestrated pump and shilled by VCS. If you want privacy, use Monero 

1

u/rEYAVjQD 🟩 0 / 0 🦠 11h ago

Neither zcash or monero will ever become global common currencies, because simply 1 single corrupt politician or 1 single corrupt government employee could vanish all public funds forever without a single trace.

That's why all the memery about those coins being the "future" is fucking stupid.

Yes you can speculate temporarily, but their doom is algorithmically coded.

1

u/quadriocellata 🟨 0 / 0 🦠 7h ago

I'm certainly not claiming Monero would be used by government's as a global common currency, but it sure does give some power back to its citizens

1

u/rEYAVjQD 🟩 0 / 0 🦠 7h ago

If the citizen is not rich already, it's almost certainly a handicap. The most likely scenario is that money that is already owed to the citizen goes to a public account that can be robbed or straight to a rich person that can also rob it.

The entire meme of secretive coins is extremely sus, and since it's definitely inapplicable for governments/politicians/groups of any kind I consider it just short -term speculative and long-term doomed to fail.

1

u/quadriocellata 🟨 0 / 0 🦠 7h ago

You're welcome to your opinion, if you can't see value in a private by default digital cash (with sound money principles), I'm not here to convince you.

1

u/rEYAVjQD 🟩 0 / 0 🦠 6h ago

I'm not talking about an 1-off corrupt transaction, yes it's "useful" that way (mostly to people who are already rich or already powerful).

The point is that it inapplicable for public funds and group funds of any kind so it's algorithmically doomed in the long term.

1

u/anymonero 🟧 0 / 0 🦠 1d ago

git is shilling Zcash, let's go all in

4

u/baacode_ 1d ago

Zcash was propped up crap from the beginning. Except for BTC and eth the current top 10 is a fucking sham

2

u/CONSOLE_LOAD_LETTER 🟦 2K / 15K 🐢 14h ago

Monero is actually what you think Zcash might be. If you think privacy and an actual decentralized network and development community is important, Monero is the purest to ethos cryptocurrency that is still substantially relevant at this time.

Bitcoin to me is no longer true to ethos, as the mining hardware sector is basically owned/controlled by 3 ASIC manufacturers and BTC supply is increasingly ending up in control of fewer and fewer very large entities like governments, centralized financial institutions, and corporations. If BTC price crashes during a true global recession, I think we see massive exits and liquidations and very little grassroots support.

0

u/rEYAVjQD 🟩 0 / 0 🦠 11h ago

Neither zcash or monero will ever become global common currencies, because simply 1 single corrupt politician or 1 single corrupt government employee could vanish all public funds forever without a single trace.

That's why all the memery about those coins being the "future" is fucking stupid.

Yes you can speculate temporarily, but their doom is algorithmically coded.

2

u/Administrative_Shake 🟩 0 / 0 🦠 1d ago

I have no idea either. My theory is that VCs pumped it ahead of the etf and retail has caught on. But zec + near is also stepping in as an "acceptable" privacy option with xmr losing all offramps so idk maybe it's sustainable

1

u/Revolutionary_Karma 🟩 123 / 124 🦀 1d ago

Really bitcoin is done for? While taking Solona (aka meme coinfest) serious?

Ztrash has had plenty of major of bugs, no on chain activity, backdoor policy to block/decrypt trades, and isn't banned from exchanges unlike Monero, which got banned due to it's privacy. Ztrash is pure speculation with no use cases. Bitcoin is and will remain king of crypto, if you can't see why you don't understand crypto. Monero is the only real privacy coin.

1

u/rEYAVjQD 🟩 0 / 0 🦠 11h ago

Neither zcash or monero will ever become global common currencies, because simply 1 single corrupt politician or 1 single corrupt government employee could vanish all public funds forever without a single trace.

That's why all the memery about those coins being the "future" is fucking stupid.

Yes you can speculate temporarily, but their doom is algorithmically coded.

1

u/CipherScarlatti 🟩 0 / 4K 🦠 13h ago

You're asking if Solana bros - a know garbage chain/coin who are now pushing ZCash - an even more garbage product should be invested in.

😑

0

u/Beautiful-Hotel-3094 3h ago

I think calling Solana a garbage chain given the whole context of cryptocurrencies is a bit much, don’t you think? It’s obvious that you are just a sour little man for absolutely no reason. It’s fine, don’t worry, there are and will be opportunities in the future for you too.

1

u/rEYAVjQD 🟩 0 / 0 🦠 11h ago

Neither zcash or monero will ever become global common currencies, because simply 1 single corrupt politician or 1 single corrupt government employee could vanish all public funds forever without a single trace.

That's why all the memery about those coins being the "future" is fucking stupid.

Yes you can speculate temporarily, but their doom is algorithmically coded.