What was the reason for you guys, to switch to Zcash. Are you going to stick to it for any longer?
Because in my opinion they have the best cryptographic team of all projects, top notch, no doubt.
Sticking to it for any longer?
Beside what Boxalex said:
For profit organization: I feel it makes them very efficient when it comes to organizing their work.
Doesn’t have this “anarchist”/“against the governments” feeling: I’m personally not convinced with this type of rethoric (governments don’t need to know anyting about our finances, taxes are a theft, etc …)
On the contrary, they go and talk with/educate officials.
The founder’s rewards to me is quite positive:
Everybody deserves to be paid for his work. I like to make those parallels:
Most cutting edge linux distros: Red Hat, Ubuntu. Both with a a steady stream of income behind and organized more as a company.
Zcash team and the community are never(rarely?) openly negative against other projects. Always a positive attitude. I don’t believe that the agressive behavior of other coin supporters or some famous bitcoin maximalists is viable on the long term. It’s just negative and destructive behavior.
I’d even say that such aggressive behavior (at least in my world/ (totally different industry)) usually hides uncertainty and such people loose in the end…
I’d add that the negative wave of unfounded or wrong comments on zcash makes me feel even more confortable about the project…
(a bit off subject: I hate the word “shitcoin”, I think it’s insulting).
For me it was as follows:
Reason 1- People involved- I chose it because of the team involved, some of the best brains in the space of cryptography came together for the project.
Reason 2- Privacy- Another reason was the privacy offering, bitcoin transactions are like open book so people wanting privacy will look for alternatives.
Reason 3- No premine, ICO- i’am not comfortable with ICO projects, just don’t trust them, the team is incentivzed too fast despite having created no value.
Reason 4- Initial investors - Zcash investors include, Vitalik, Gavin and others.
the best cryptographic team, for sure
I heard that Zcash has a very good team and initial investors. But I have not choose Zcash yet, just learning about the coin right now
It offers the best privacy possible. However, that can be duplicated by competitors, and their inaction on ASIC mining coupled with the 95% deflation in price from its all time high have me wondering what’s going on in the office. Right now is the time to buy, though I’m feeling that summer/fall will be even better…
If you want the best way to send money without anyone knowing anything, use zcash…I will say that it is really the only reason I see it valuable. If it didn’t have solid privacy - the real deal - it would just be bitcoin.
As I get it, you guys have a really nice team, people just seem to trust you so much, that’s great
Yes, one of the advantages of Zcash is a trustworthy team.
I have a lot of reasons, but here are my main ones:
- Its essentially what I thought and wanted bitcoin to be early on when it comes to the tech, yet they took what bitcoin had accomplished, adjusted a few things to help scalability, and now you have zcash.
- I believe privacy is a right, and that Crypto will win out, and in my opinion Zcash is the best privacy coin.
- I liked that the mining rewards also funded a team. With the state of crypto, I 100% believe that’s needed to succeed long run (Not everyone has the freedom to just focus on these projects without getting paid, and with the market growing like it is, you need to secure top talent)
- Zero Knowledge Proofs + the scientists behind them.
- I think the long term potential is extremely high worldwide, and is a need that a lot of people dont realize they have.
Edit: And of course decentralization, that’s a must. Also was a coin I could feasibly mine from my condo for a while early on.
When I first read about Zcash, I immediately got that fuzzy feeling in my stomach similar to first learning about Bitcoin circa 2012. For me, it was all about privacy.
First, privacy is a human right. This truth is supported by the premise that privacy is inherently linked with dignity and avoiding persecution. People should not being judged because of their race, political views, sexual orientation or other beliefs, and financial data exposes this sensitive information.
Second, it should be the burden of your government to decipher and decide the legality of your transactions, not a requirement of any cryptocurrency to make sure that transactions are transparent. Local laws are often a result of time period and culture. Cryptocurrencies need to exist and function beyond these time periods.
Third, the scope of honesty: When one person breaks their local laws it’s a failure of the system that is limited to that individual. When a central authority with power over others (government, etc.) becomes corrupt the entire system suffers, including the honest users of that system. We’ve seen this play out many times with hyperinflation. Zcash to the rescue.
I believe that lack of privacy is one of the largest flaws with Bitcoin (BTC). It’s an almost certainty that we will see addresses and coins from those addresses blacklisted. Unfortunately, companies like Bitfury are doing their best to map cryptocurrency addresses to users and then selling that data. These attempts are shameful.
Crystal™ analytics platform provides a comprehensive view of the public blockchain and uses advanced analytics and data scraping to map transactions and related entities.
Last, fungibility is a required property of sound money and Zcash is a large step in that direction.
Thanks! What are the most advantageous skills of this cryptographic team then?
Interesting, does not seem to be a popular opinion, does it?
Thanks for the detailed answer.
The previous commentator does not seem to be preoccupied with privacy or it just seemed to me this way.
Vitalik Buterin is a Zcash investor, isn’t it? Did not know that.
But why does it matter to an ordinary person? I mean, how can we benefit from that?
That’s why I’ve created this thread, I want to understand why people prefer Zcash because if it comes to privacy it’s also not the only coin existing in this space. Thanks for your opinion!
What about Monero?
By the way, I like the 3rd point
I could not agree more.
Thanks for being a reasoned advocate.
For me - zero knowledge provides perfect privacy, there simply isn’t any information an adversary can use to identify you. Other coins provide ambiguity, but mixing your transaction with a small group of others simply isn’t good enough IMHO.
I’ve been very impressed by the way ZcashCo have delivers, not just the skills/knowledge they have but their track record, continuous and seamless improvement. Also a pleasant surprise that they hang out here and answer questions.
Zcash is new so has all the usual challenges ahead of it, inflation being one of them, however in my opinion that’s balanced by what this project offers and its potential - especially at the current price.
I see, the founders’ feedback is precious.