Bitcoin’s primary use case is as the dominant crypto asset/ store of value (and value expander), with significant market liquidity.
There isn’t a technology that will subvert Bitcoin in this regard. Because Bitcoin’s dominance is beyond technology. I don’t understand how we’re in the year 2024, Bitcoin has demonstrated its market dominance across multiple cycles, yet people still insist on trying to build the Next Bitcoin.
There are near zero odds of a Next Bitcoin, just like there are near zero odds for the Next Microsoft, Amazon, Facebook, or Google.
Will there be competitors? Yes.
Can Zcash make its pitch as an upcoming Bitcoin competitor? Yes!
Is Zcash or the next exciting ZKP project going to dethrone Bitcoin? I can’t imagine it.
There is a comprehension gap somewhere here in the Zcash ecosystem; some people seem to believe that the project can exist (and possibly even become relevant), in a vacuum outside of the context of the price of ZEC. That is a foolish belief.
What good is long term private, secure storage for ZEC, if after 5 years their purchasing power has been diminished by 98%
It would be as pointless as locking away a bundle of bananas in a gun safe for the next 5 years. There is no point, if the value is gone.
Native crypto network asset prices are a core piece of the equation in this industry, anybody trying to segregate the price topic from the adoption/ usability topic is making a serious mistake.
(I’m not saying this is your belief Shawn, speak up for yourself if you want. I’m suggesting that you have shown up recently and been regularly echoing that sort of sentiment. Retorting the comments from other forum members who are keeping Price/ Value & Adoption/ Usability discussions together)
This says it all! Nobody should be surprised that Tatyana’s sampling from Zcashers of today “revealed” a truth like this. Read into the verbiage, ZEC “users” means ZEC sellers.
ZEC users (sellers) understand that they need to recommend new people to Zcash because the new people are the necessary ZEC receivers (~buyers/ holders).
(If our mission continues to be the onboarding of new ZEC sellers, then we are in for a lot more adoption struggles.)