(zcash included)
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I did not say that speculation is the way of the team, I said that speculation is the only one where the coin is used, there is no real use, such as intended, and why not? Maybe because the team offered excellent technology and a good marketing company? Yes, as far as this was done, so the coin was distributed apparently. There is a class in the Bronx, there are several people in different parts of the world (Turkey, Africa), and exchanges and exchangers, where is the real use and why is it not? The technology is excellent, but there are no tools for using it (some work has been done in this direction, I see this) and there are no real scenarios (there is still no movement).Using the example of Venezuela, I wanted to say that it is necessary to identify and test use cases locally and exponentially and not by graphs and theory at all kinds of meetings and conferences. They promised working technology, let’s try and people will try, and while the advantages are only in theory, nobody will be able to keep in a falling market, it was impossible to use because of the lack of wallets, it is also difficult to maintain because of the team’s constant movements from one side to the other (courts, forks , scalability decisions, lack of feedback, trademark, financing issues and so on).
There are problems that cannot be resolved over time, this has ruined the community, there are only those who are interested and just look, but they are few, they should have joined the new ones and not the old ones.
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I don’t know any coin that is not mainly used for speculation… Even Bitcoin… It’s still early days. Before the last peak price, everybody shouted that Bitcoin would be the payment system for all. And then transaction prices went sky high because it can’t cope with so many per seconds… What’s the point to make noise and advertise about something when it’s not ready?
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No success, no project, this is a product of a commercial company, what’s the point of selling a product to continue working further? Few coins depend on the development team, just as the team depends on the success of the coin. Bitcoin is not one of them.
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I think we don’t agree in what the product is… that’s it… I understand your point.
The complexity of zcash implies that they need much more time and resources to focus on the core of the product.
Yes Bitcoin is not one of them, yes, other coins don’t need that… maybe because it’s easier? Also less good privacy features …
I hope people understand the importance of such strong focus on zcash core.
The zcash team chose to build great documentation for 3rd parties to adopt their product. Because no ressources were available beside the core development …
Now that light wallets are possible, they put an effort in that too…
I think it’s more about priorities.
If so, then this is a success, the question is whether there will be enough funding to implement the idea. I am waiting for an announcement about the lack of funds at the current price, and which way the company will choose. Also, the question of future financing remained unresolved even in theory, in practice, at the current price, it will not be resolved even with the 20% that is now (taking into account the split in half, this will be the current 10%)
You are making a grave mistake in downplaying the importance of the miners in the economy of a coin.
Most people think that miners have to sell coins to pay for electricity and hence are the weak hands. This is of course a gross over simplification of quite an interesting little economy. Miners have mining contracts that protect their investement leaving them quite free to speculate.
Do not think for one second that a large portion of losses were not due to miners insta selling ZEC for BTC. This is exactly what you see a constant slow bleed in such cases.
ASIC Miners form cartels which force centralization quite often will they suppress prices to force countries with more expensive electricity costs out or to force an older ASIC model out.
Take into fact that the ASIC manufacturers are free to mine with more powerful chips before the general public and you will start to see what I am talking about.
Miners generaly start limiting supply and start putting away some coins for the halving pump about a year in advance. All it takes is small ammount of USD or BTC to pump up the price and get retail interested. You can figure the rest of it out.
As for your argument that XMR has the darkweb as a market, no, no it doesnt. BTC is dominant on the dark web by a huge margin. If you combine all the XMR used for those purposes its less than both 1% of market cap and of daily volume. What XMR has is the perception of speculators that it is perfect for the darkweb and that given enough time it will dominate there.
We can argue about why BTC is quite suitable for the narcotics trade as it is and why it has problems that ZEC and XMR are trying to solve which the dealers dont care about.
can’t believe people are still capitalizing zcash like that. going start correcting that when i see it in the wild.
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Me neither, but we shall not burn the heretics. Not just yet. Because you see…
Many people think that the shitcoin traders resemble something like:
This is a common misconception in reality they resemble this:
We must be cunning and strike when the time is right comrade KEK carefuly not spook the beasts!
And I must cut down on weed and that will happen one day! But that day will not be today.
As you can see in the first and only comment on the trading idea we have one of those beasts. Us traders call these brave souls smart money.
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Hm didnt even notice it until now but a nice little coincidence!
And this is not an isolated incident. This is my tradingview feed.
Long, long, long …
And it goes on like that until theres a short about 15 ideas down.
This certainly makes my paranoid contrarian ass nervous but you must admit is a show of market confidence not seen in a long time.
imo, bulls aren’t wrong! we’re all looking at the same charts, and zcash looks like she’s about due for a decent run. people buying at current levels will probably double their money fairly quickly. it’s the most obvious no-doubter ever, in history.
seriously, there’s not another alt that’s had a more consistent stream of positive news than zcash. we get the TM issue solved (looks like they’re getting close) we’ll remove some uncertainty surrounding ZEC.
noticed a cool thing during the devfund debate - was pulling in people not affiliated with ZEC just because it’s an interesting problem that needs solving. (devfund debate was creating a bit of a buzz for ZEC)
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This is true, markets dont only price in positive news where a front running in buying happens and then a dump on news at event.
The opposite of that happens quite often where the market is pricing in a negative outcome by excesive selling. The longer the delay the more value is lost. Once the issues are resolved a quick relief rally usually follows with a sharp upward movement (Buyers are lined up waiting for the bottom and they scramble to buy in once the bottom is in).
I have stated my position on the fact I have enough ZEC for now BUT in the event we get to US$ ATL or below I have some spare cash on the exchange which I intented for some quality of life improvements which can wait another year if king shitcoin poo poos itself to $6500 I will be all in. I have actually managed to utilize several online services, the EU SEPA and the GBP BACS system to lower my crypto buying fees to 0.5% via debit card and am feeling proud of myself that it worked.
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There are no miners in the GPU for a long time, who will save the coins? XMR may have very little market, but zec doesn’t have that, and the rest is speculation, we can say that xmr is 99% speculative and zec 100% that’s all.
I don’t want to play down zec’s merits, but what is not enough now to continue development (all development depends on price, not idea).
Why would ASIC miners be less capable of saving coins than GPU miners? These arent hobyists using their savings to buy GPUs. These are huge warehouses with hundreds of machines that sell their hashpower in advance. We can also say that XMR is 5 years old and has had 2x more time to acquire that measly 1%
Must buy some zec then…again, dont want to buy over 50$🙂
Because Asic miners in generally need more often investments for hardware to keep up with pace. Someone could as well assume that the electricity costs are higher at the end per unit by about 10x.
While an Asic is more efficient compared to a gpu that advantage is lost as soon as the whole network is supported only by asics. The fact alone that in most regions of the world asic miners can NOT mine ZEC for profit or ROI supports my theory that there is more sell pressure today than it was with gpu mining yesterday.
There are more points that support my theory that there is more sell pressure with Asic miners but no time to write a long post.
Dont you think that BTC miners start accumulating BTC by not selling all of their supply in expectance of a halving pump?
The truth is this has happened with every coin on a 4 year cycle and yet you claim ZEC to be the exception I dont get it.