That’s not entirely true. People have to acquire it somehow. So you either sell a good or service and take it as payment, or exchange it for a different currency you have. If you don’t have exchanges you end up with miners holding a bunch of zcash. They then have to find merchants and individuals taking it as payment to use it. Sounds like a slow way to distribute it.
Interesting, storing books on bch
Prediction/guessing time…
I think BTC’s sharp drop followed by a prompt high volume recovery was the ‘capitulation event’. If it follows a normal playbook it’ll go sideways for the next month or so, with a pump when/if Bakkt happens.
For ZEC, we’ll track BTC but with a slow ZECBTC downtrend thanks to our inflation rate, but a nice pump when the reference wallet is released.
No graph, just opinions & guesses, nice time to accumulate IMHO.
I don’t know for certain whether we asked to be listed on the exchanges that are accused of faking volume, but my impression is that we didn’t.
I like it!
This led to 25 additional listings in 13 countries, including two of the most respected and heavily-regulated exchanges in the world: Gemini (with approval from NYDFS) and Coinbase. It has been a common misconception that regulated exchanges cannot support Zcash. That proved to be false. It is now a common misconception that regulated exchanges cannot support shielded addresses. That will also prove to be false.
It tickles me every time I see ‘Bitcoin on the move’ announcements, really something that shouldn’t be possible on a proper currency.
^^ Exactly, imagine if the headline was:
“Elon Musk transfers 20 million dollars from Bank of America to his E*trade Account!”
That would never fly as a good way to do business.
Correlation between market price and hashrate?
(I know “hashrate” is a hot button issue, please don’t go off-topic and rehash the GPU/ASIC debate in this thread)
Im pretty sure the economic incentive to receive mining rewards causes people to add hashpower as prices rise. But what do i know
Hashrate / Price always seems like a chicken and egg situation with arguments going both ways. Which rose first, the hashrate or the market price…
Yeah, I saw that about BTCP. Astonishing
Hash rate since those with the first bitcoin didn’t really have a place to sell them.
I think the conclusion below fits it up much better: (taken from investopedia):
The net effect is that energy costs still comprise the majority component of bitcoin mining costs but exert minimal influence on its price. The energy costs associated with bitcoin mining operations ensure that it remains a significant barrier to enter the industry.