Before reading this, be aware that this is also part of my campaign pitch for MGRC.
I’ve been bearish on financial assets for a while, but especially during this run up. There is an equity culture that is full mania with stock slices and more ETFs than you can shake a stick at. Also the rapidly narrowing delineation between currency and equity (you can trade for free on a single app, and use those funds immediately to buy lunch) presents unique consideration for “cryptocurrency communities” (think do you want to be a tesla community member, or a ethereum community member) We could be heading into the early stages of this equity culture, but I believe that its origin is at least 50 years old, and we are nearing its end. I am also immediately bearish because it seems that the treasury’s use of $6T was not very well allocated through PPP and similar programs. I also cannot ignore that current defi mania presents the question of the present viability of heavily layered and leveraged contracts and scripts on ethereum. I have not determined whether an ethereum implosion will be a plus for zcash in the near term, but see ethereum’s righful demise as a positive for the space long term. I was originally speculating that the implosion of ethereum could lead to value accreting back to ETC, but I am encouraged to see ETC people and Hudson timely show up to Zcash.
I’m offering these thoughts as a better way to appreciate my candidacy for the MGRC. The success of the MGRC cannot be ignored in your calculations for the future of Zcash. For instance, let’s say MGRC’s performance is disappointing while simply overall market prices drop bringing ZEC to near term lows, say $20. The Foundation has decided to pay out $2500 a month to the MGRC members. At those prices, even the 120 ZEC a month in direct payment to committee members a month becomes meaningful when many candidates want to allocate resources to many projects. What if ZEC goes to $10? I’d be buying heavily, but be aware that the committee members are being paid 1/30 of the MGRC Slice. I think there needs to be recognition that we are possibly living in times of excess, and that a pervasive bullish view within the leadership of the MGRC can lead to the entire project’s downfall should the market turn against us without proper preparation.