Price Speculation

General
5060

I’m always a fan of your posts - keep it up, it helps build community and trust. We are all here for the speculation, and there are a few of you specially whose posts I really enjoy reading.

I also agree the inflation hurts right now, but I’m still holding out for the long run and believe ZEC tech and hybrid public/private chain will be what consumers, businesses, etc. want and need. I see the current price as a good time to accumulate, because that inflation will change. For the time being, I think ZEC is positioned well given the amount of people entering the space, and the tech will be where it needs to be by the time USD is on the out (which will definitrly happen in my opinion, it’s just a matter of when). We need to ensure we keep growing the userbase and spreading the word. I think we’ll see some huge adoption once hardware wallets can handle ZK transactions.

3 Likes
5061

https://medium.com/digitalassetresearch/zec-best-in-class-privacy-in-a-public-blockchain-1df2a3728739

3 Likes
5062

Give ZEC time and it will rise to the🌛

5063

I recently read an article talking about bitmain where the author thought that they made a poor decision in requiring crypto payments rather than fiat only.
Their only justification for the criticism was that crypto is now worth much less than earlier this year.

That’s such a short sighted view of it. One should consider that by requiring crypto payments they have increased the demand for those currencies. It is not different than the world oil cartel requiring US dollars. It’s a brilliant move that increased demand on something they already owned. They helped create a self-reinforcing feedback cycle. Crypto is up, so buy more miners, miners cost crypto, buy more crypto… etc.

5064

Interesting view. But to be fair Bitmain not always accepted crypto on every batch. There have been batches where only USD was available. Just to correct it a bit.

Other than that I personally liked the move to accept crypto on most batches and i admit, it made me confident that crypto has even a future. I mean i think we can agree that Bitmain is the biggest company dealing with crypto, so if they accept it, even demand it, there must be a good reason behind it and that’s not that it will be worth nothing tomorrow.

5065

I did not know that there were wire transfer only sales. Were they in the very beginning or even more recently? I’d be interested in the specific timing where that happened.

5066

I can’t remember the exact batches but for some only USD has been an option. I think last in May have been some where only USD have been accepted. This applies mostly for first batches if i remember right.

5067

USD was required for the L3+ when I bought some, then bitmain thought they could pump Bcash by only accepting bcash for their miners later in the year. I know they eventually accepted LTC for the L3+'s as well (before the shift to bcash) but they definitely moved away from FIAT for sure!

5068

Not for all batches. In April/May 2018 there have been for sure some batches/models only with USD…

5069

True, it has been a while since I’ve paid attention - the last time I had looked closely at payment options was the first batch of A3s. But I think I recall the Z9’s requiring Bcash as well (maybe I’m wrong on that).

5070

Just saw this posted from someone in Venezuela on some forums - so happy to see they were accepting Zcash.

Screenshot_20180919-155345_Samsung%20Internet
Screenshot_20180919-155345_Samsung%20Internet1080×2220 823 KB

5071

You missed the point of why I moderated that post: it was based on a false premise. The monetary base inflation rate had been stated to be 1%/day when it is actually 0.15%/day.

2 Likes
5072

Yes, its 0.15% a day. Still that makes yearly inflation 54% which is A LOT.

5073

It’s identical to Bitcoin at the same point in its lifetime. In any case, I’m not claiming that monetary base inflation does not affect price; it clearly does. I was merely pointing out that the figure someone gave for inflation was significantly higher than the reality.

4 Likes
5074

This is true, but check what Bitcoin price was at the time its inflation was this high. Of course a lot more people now trade and invest in cryptocurrencies than they did back then.

5075

There was only 1 coin to buy then. It mattered less. There are now more cryptos than enough people to invest in all of them. That research paper that took them 200 hours of research proves this. We knew this in a handful of hours researching it. Once the info gets out there the price will reflect the reality eventually.

By why does inflation matter so much when there is less than 5 million circulating coins? If there were enough people buying/using Zcash the value would be much higher. It is the highest dollar valued coin with the least circulation. I was hoping people would figure it out sooner than later for that very reason. It is the scarcest coin with the best tech.

2 Likes
5076

Ive got a headache now kinda, ugh

5077

Inflation is important for store of value.

Yeah well that is one big IF. You need daily investment of 820 000$ if all the coins mined that day go to exchanges.

Again the amount of coins in circulation is less important than inflation in terms of coin being good store of value. After the first halving things will improve, but we have to wait 2020 for that.

5078

imo, market has absorbed the inflation fairly well, and we’re close enough to halving that it really isn’t a big deal. also think people will have less of a negative opinion on inflation rates after we get a couple bullish market cycles under our belts.

edit - i did misunderstand the reason for the edit.

1 Like
5079

I’m dumping all of my zcash.

I started buying zcash last year as I got into crypto currency.

I really liked the technology and the fact that at the time it was called asic resistant.

I really liked the idea of decentralization and the narrative that I absorbed from the bitcoin community was that ASICS centralize in China due to electricity cost.

So I initially started buying - maybe hoping for the next bitcoin like many people.

Eventually I wanted to “do more” so I looked into mining. Built my first “rig” with 2 1080 TI in SLI.

After mining and holding for a month I started building out mining rigs.

All financing both through my paycheck from work.

All in, I got upto about 80 GPU (mostly 1080 TI) and a reasonable amount of ZEC saved.

I was always told that miners protected the network in exchange for a reward.

When the ASICS first appeared - it was doubted by many that they were real.

I watched my farm barely break even from the electricity costs.

Then there was no word from zooko or the foundation about if a fork would be made to prevent asic take over.

I feel sold out.

I’ve dumped all my zcash and sold about 24 GPU. I have bought 2 z9 mini and a A9 which I will dump the coins and buy other coins I want.

You turned mining from a hobby / project worth being involved in to just being a business - which is fine.

Now I mine your chain because it gives me the most satoshis / watt / day and I buy a different coin.

Through the reports of censorship and over moderation combined with the drastic decrease in price while devs are saying they aren’t getting paid.

Then you have zooko flappin on twitter about how it’s nice to not have to worry about money anymore - are people really surprised at the price?

So I can’t speak for anyone but myself but I’m pretty sure I’m not the only one that feels burned over the last 12-16 months by this team.

4 Likes