The Last Swing of The Stick

[noamchom]

@Cryptoblaz

Zcash keeps making leaps in privacy technology. ZKPs being an example, Halo, and what will likely be ZSAs. In the past, none of that translated to helping Zcash, which in turn, should help the treasury that would allow for continued grant disbursements for continued advancement in privacy tech. QEDIT has been amazing; is there a way for Zcash to benefit from all these privacy advancements instead of being eternally generous? Seeing the project for the Shekel-Backed stablecoin be on Solana is a little jarring.

Agreed that ZEC needs to be seen as Digital Gold and Store of Value. The last 8 years make it difficult for anyone to see it that way. ZSAs would help push that forward, but at the same time BTC doesn’t have any highly adopted solutions on top of it.

Is ZEC the base of private infrastructure, is it a Store of Value, is it for day-to-day transactions? I think messaging needs to be clear so everyone knows what ZEC really is and what the direction of the project is. Lack of direction leads to negative outcomes that don’t need to be elaborated on.

@Jgx7

It would help at least some of us in the community who want to see Zcash become a blockchain of money if ECC provided the expectation that

a) deprecating ZcashD is our number 1 priority after Zashi is released.
b) Then ECC and ZCG along with the foundation are 100% focused on we have the resources to bring ZSAs, stablecoins, and programmability to the Zcash blockchain after ZcashD is deprecated.

yes. I have seen Josh’s roadmap; but 1Q25 is a year away to deprecate ZcashD, which means ZSAs are likely late 2025 and who knows when for stablecoins. Seems to me we need to move a lot faster on deprecation. Can ECC get aligned with the Foundation and Qedit to go all hands on deck to deprecate ZcashD? It seems like if all 3 orgs and Qedit aligned on this, the team/group as a whole could help get it done quicker. The current roadmap still looks like the ZEC is fiat (spending) theme is dominating the development pipeline. The focus is on payments and wallets, which means ZCG will want to spend on 3rd party wallets/marketing/media. So many of us want to see ZEC as SOV (saving) with ZSAs/stablecoins (spending) and smart money (programmability for ecosystem platform).

Agreed to the maximum

The ZSA thread is getting derailed, so I’m cross replying in my therapy thread.

@silentZcollector

this is one of the main problems, there is no incentive for anyone to hold ZEC, the old vision lead by zooko is done, and currently nobody knows where we are going. we are moving slow, and those receiving ZEC from the dev tax are trading it for coins like BTC and ETH - or even investing it in startups, similar to an investment fund … and meanwhile i am down 96% in terms of BTC

Exactly, there is not a lack of vocal opinions about this current weakness/ confusion.

Leadership needs to stand up and speak with conviction. ZEC are valuable, we’re done with the dumping. We’re building products to help the world use ZEC, and a huge use case there-in is the Store of Value use case. - in addition to the core privacy features

Proof of Stake is a game changer that could Save Zcash because it will fundamentally make ZEC into an asset to Buy & Hold.

@Jgx7

ECC clearly states they are focused on payments. That is great for processing transactions privately. the elephant in the room is we don’t have a currency. We have an asset (like gold). But their concept of privacy is blinding them to both empirical evidence and theory when it comes to a currency and what attributes it needs to have… the logical and rational conclusion is we need stablecoins for payments and it just falls on deaf ears.

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