Without ZEC going up, there is no other “marketing” that will have a substantial impact on Zcash adoption/ growth/ brand perception/ treasury funding.
Wallets being damaged is a second thought, keep in mind that 90% of all Zcashers own their coins in transparent mode on a huge centralized exchange. Those Zcashers are obviously hurting and giving up, take a look at the ZEC-USD for evidence of the pain.
Without a strong ZEC - other marketing gambles are non-viable.
A simple, secure digital currency that protects your privacy. For everyday purchases, sending money to a friend, and your favorite crypto applications, too.
This statement to me just makes it clear they don’t know what money is or is supposed to be when zec is described as something for day to day transactions.
stablecoins are the future of digital cash for day to day transactions
It’s a bit sad that 7 years into the project, near zero adoption, but the main page has a confused mission statement
Zcash is a cryptographically secured network with privacy -enabled, scarce assets, and asset containers. Zcash is a self-grown builder, creator, merchant, and investor ecosystem.
ZEC can never operate as a localized fiat (and it never should) because it’s impossible to reliabily price goods & services in ZEC over even a 1-3 month timeline
Notice that in 3 months ZEC has lost almost 50% of its US dollar value. It’s unthinkable to be a farmer selling crop yields for ZEC, only to see 50% of that value gone in a few months.
And to the contrary we’re all aware that in a good few months ZEC can gain 100-200% in value. Imagine having spent $35 for a bulk coffee purchase that turned into $100 in cost only a month and a half later.
The severe volatility is why ZEC can’t be marketed as cash. It can be a settlement layer, but transactors should be given notes caution that 1 ZEC today is not guaranteed to = 1 ZEC in a couple months (in fiat terms).
This #Zcon4 poster was inspired by the fact that 40% of those holding crypto in Brazil earn below the minimum wage. #Zcash can transform the lives of residents in favelas by creating financial inclusion and opportunities.
.Accepting #Zcash payments for goods and services expands their customer base beyond the local area. This fosters economic empowerment and growth within the favelas, a value that goes well beyond the monetary value of the coin. The text translated to “Zcash transforms communities”
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when they say things like this, it just seems wrong. To tell people who earn below the min wage to buy something zec as a way to save and buy things is not right. This type of marketing is what kills a brand!
i think the technology has a lot of potential; but the people who advertise this use case are not helping people.
yes if zec goes to 30,000 many people can do well. but for the people that earn 500 for a week and then need to spend it quickly, they will still lose even if it were to rise to 30,000. it’s a very bumpy ride and most people won’t have the ability or emotional makeup to profit.
zec is not money for day to day transactions.
the foundation and ecc should be forced to hold their excess funding in zec. put your (or our) money where you mouth is or change the mission to properly define zcash.
But you are OK with advertising to people to use zec for day to day transactions. Yet it’s so unsafe and volitile that ECC and Foundation need to “hedge” it and won’t hold it… You don’t see a problem with this? Now the point I’m trying to make, which I think you missed is the mission of ZEC being a currency for day to day transactions is the problem. The fact ECC and Foundation need to hedge it is a proof they know it too.
ethereum doesn’t call itself money for day to day transactions
so a second point i’m making l, which is probably the most important, is this belief that zec is money for day to day transactions causes a misallocation of resources. not in that it’s hedges but in development and marketing and product features.
i’m hoping they will see their actions and need to hedge should be a proof to themselves zec is not money for day to day transactions. The reality is we all need to hedge it. and the best hedge is to just not own it for day to day transactions .
and why not advertise and let people know, you need to hedge this? you are lying to people of you know it needs to be hedged. yet you tell them to buy it as a currency. don’t you see the problem with this? you are the ones that are supposed to care about the less wealthy. but you don’t tell them they need to hedge their zec holdings. these people can’t afford to lose 5% in a day or a week.
The 30 year plan reads like a scientology advertisement. it’s not a plan. it’s a dream. we need a real 1-3 year plan and roadmap that takes us to private stable coins, pos, and fee based open ecosystem. This focus on zec as currency for day to day transactions causes a misallocation of resources and it just doesn’t work now and never will work as a currency for day to day transactions
another thought which is also meant to be a proof. what happened to people believing privacy was the most important thing? hedging out of zec into non private coins seems like ecc/foundation don’t believe privacy is all that important. the store of value is most important @jelly5649 ?
I think everyone is this forum understands you really like the USD dollar, but as was mentioned above, hedging even the mighty dollar is necessary for a lot of folks.
The fact that people choose to hedge with ZEC because of privacy might indicate otherwise. You clearly favor SoV above all else, and that’s ok. I again think perhaps BTC is what you really like, because that coin clearly favors SoV above all else. You can even keep in a government approved bank. Not everyone agrees with this and are willing, perhaps, to have less dollars for more privacy.
i support hedging into usd because i know zec is not a currency for day to day transactions. i also know stability and value are more important than privacy. i don’t think BTC / ETH are true hedges. but the point being they are not private so it appears privacy is taking a backseat to value……i’m trying my best to show the community this is true.
i like a lot of things. the USD just happens to be what everyone else wants. so it’s just common sense to go after the largest market in the world for privacy. it helps the most people the fastest.
they arnt hedging. they are speculating. we can call it whatever we want. but the amount of money left in your pocket at the end of the day; the vol; the market depth says it all.
the costs are in USD. so the best hedge is to hold the currency in which your costs are denominated. they should hold 6-12 months of costs in the currency of their costs
a hedge means when one asset goes down the other goes up. so long 1 zec and short 1 zec would be a perfect hedge.
buying btc/eth is a speculative investment decision. there is a high correlation between zec and btc/eth. it’s not really a hedge at all and it’s not well diversified.