Zash did a small initial FOMO , the rest of the price increase is about to come
Still time to get on the train, this will be something similer to the XRP run we had a few weeks ago.
Does that explain https://www.coingecko.com/en/price_charts/zcash/usd ?
If I am reading this correctly, it looks like a bad thing for ZEC?
Zooko just gave ZEC technology to JPMorgan... allowing their blockchain to benefit from total privacy... which used to be ZECs main claim to fame.
Please correct me if I am wrong on that, but it looks quite negative on the face of it.
How could this possibly benefit ZEC in the long run?
Zcash 'technology' is open source. Anyone can use it. Zclassic has been since almost the start.
What makes Zcash special, what it has that no one else has, is its team. The more the profile of the company rises, the better for Zcash. The company has taken a slightly more humble angle on it, claiming that JPMorgan's desire to use zksnarks makes the tech more credible to all other users, and while that's true, it's not the biggest takeaway IMO. JPMorgan's trust in the company to do the work is what really speaks to the long term value of Zcash.
Better still, the company understands this, and that's why they've been working with ethereum, why they've been friendly to zclassic and why they've been working to create partnerships like this one. Ultimately, cryptos are not valued by what they are now, but on what they will become. The more investors/consumers like the team behind the coin, the better off the coin is.
What are they really trusting ZECC with though really?
A pilot project that has a good chance of getting scrapped entirely at some point in the future (imho)?
Because it looks like "just another eterheum asset" if you ask me.
Which brings us back to my main point. ZECC just gave (or licensed?) ZEC technology to another entity.
I fail to see how this is a good thing for ZEC in terms of price.
The only thing we really had going for us is the privacy technology and the first-mover advantage on that privacy technology.
We are still virtually unknown to the wider world.
If we help everybody else integrate ZEC technology before we really get off the ground (in a few years time), what's stopping investors from jumping the ZEC ship in favor of Quorum or any other blockchain technology?
Sounds like you're in the wrong coin. This was the business model from before day 1. And it's working faster than I would have imagined, so you're probably have a better chance of convincing them to become radishes then to become isolationists/protectionists.
What are you talking about?
The business model was to develop blockchain privacy technology and then license it out to other blockchains?
Why would anybody invest in ZEC if that were the case?
If what you say is true, I would love to invest in ZECC, but not ZEC.
You make it sound like ZEC is just a testnet for other coins.
They're mutually reinforcing business models. ZEC lends credibility to the team's ability to execute and creates opportunities for partnerships. Blockchain partnerships lend credibility to the ZEC currency, and so on.
You make it sound like cryptocurrency itself is out of your comfort zone, not just this one. Do some reading on what open source means and then think about these 'licenses' you keep talking about. What do you think ZECC is licensing?
To some extent all cryptocurrencies are a testbed for all other cryptocurrencies, current and future. Perhaps none has been more a testbed than the most valuable, bitcoin. Some altcoins will end up being useful, others abandoned and no one can predict which will be which now. ZECC understands that to succeed in this space, you can't hunker down and try to lock all the doors, you have to engage and evolve. By having a team behind ZEC that engages and evolves, they have a better shot at drawing long term users of the currency, and from users there is value.
If you think altcoin value is about today's tech and what's in there right now, save yourself and get into something safer and more conventional. This space is not about patents and trade secrets. Biology has a lot more in common with what's happening here than wall street does.
I appreciate your level of patience that you have taken with me in trying to explain all of this.
I was using the term licensing in a more generalized fashion... to help my brain make sense of all these new ideas.
As in ZECC developed the privacy technology, and then "licensed it out" by helping other coins implement the very same technology.
The same way a regular tech company might help another company out with their technology in exchange for compensation.
it's a good thing.. now, people (with deep pockets) will start learning/understanding what ZEC is, and does. this also puts ZEC on the global investment community's radar. side note - proves to a larger audience the tech behind the protocol is legit. about sharing: this is an open source project; would never support if otherwise. the point is, ZEC devs are the best in the business when utilizing this tech. imo, other than loss of engineering resources; nothing wrong with any of this... go zcash, GO \o/
You're welcome, I've certainly had people be patient with me in the past. The market is complex and the tech is too, so on the upside, there's lots of interesting things to read up on.
When I heard the news today I was really excited,zcash technology been used by JP is big big news,gives us credibility in circles we could only dream of,well done to the zcash team your earning your 20% as far as I'm concerned
For the scientists, it's a tremendous validation of their life's work and a great motivator for ongoing academic research. I salute them!
I don’t know how I missed this last night, but missing it made waking up all the more fun.This adds validity to the zksnark tech, the trusted setup, the expert knowledge of the team, the whole project. Congrats to the team and everyone involved! :zcash:
Why did ethereum also double on this news? [edit: sorry, ETH did not double]
From 120$ to 300$ in just few hours.
Sadly now it's back to 240$.
One day I will need to invest 3500€ in a rig with 6x GTX 1070 and just have it ready for times like this, when I could make 5$ per day with one of those GPUs.
Something has gone horribly right.
More awesome news about zcash
Get in whiel you fellas still cane
Next target is 0.44