Zcash Dumps

General
1

Three days ago, I posted a warning here that over the years, whenever you start seeing bots, sock puppet accounts, and certain low-visibility twitter influencers popping up on your timelines saying things like “OMG, Zcash is so cheap right now, this is a sleeping giant, I just filled my bags and you should too!” on tweets, as it has been happening recently, that it usually means a monster dump is about to happen.

My post was, very obviously, flagged and hidden, and ZEC’s price has dropped 22% since (though the tweets started appearing over a week ago when we were at $30).

I’ve been warning you for years about what’s going on with Zcash: people have been systematically extracting value from all of you. A lot of value.

I hope you finally open your eyes to this reality and stop giving your money away to a project with no future. All metrics show Zcash is a dead coin, and please take my word, nothing will change that.

There is no coming back in terms of adoption from where Zcash is, and has been, for a long time.

The “privacy narrative” is one with potential, definitely, but if you really want to invest in a narrative, please, protect your capital and do it with a project that has actual viability.

The technology behind Zcash was a breakthrough, no doubt, but if it ever sees mass adoption, it WILL NOT be through Zcash.

I’m telling you all this because I care and would really hate for you to keep throwing money at a blatantly hopeless and poorly managed project.

I often wonder how much money people in here could have saved if they had just listened to my warnings these past years (I was right pretty much every time I warned you about what would happen next), or if so many of my posts warning you had not gotten flagged and hidden.

The price might go up at some point in the coming weeks or months due to systemic reasons (i.e., BTC ETF/halving). However, in general terms, barring a proper and extremely unlikely miracle, there is no chance Zcash will ever see mass adoption, not even “niche” adoption.

Play it smart, fellas. Better late than never.

With love,

Your pal Chamus.

1 Like
3

These forums/this tiny little community has a censorship issue. It’s actually extremely bearish and the antithesis of crypto, when things get constantly hidden.

2 Likes
4

And I’ll even support it.

For all doubters, this proposal looks like a lifeboat. There was another one from Bitcoin community, from Ethereum community. All of these are cool things that have proven themselves. So why not?

But I’m sticking around because I’m not focused on price in the moment. Especially not when I fully understand why it’s happening and it has an ending. I’m focused on a long-term idea that no one else will offer me.

4 Likes
5

Is your crystal ball for sale?

1 Like
6

I don’t have a crystal ball, but I have years of practice tracking addresses, understanding words of people, identifying circles of communication, reading between the lines, psychology and understanding economic processes. I’m not selling that, sorry.

1 Like
7

Ok well I have years of building products, some very successful, and an awareness of sunk-cost fallacy. @joshs has a huge burden on his shoulders that without the proper team, any roadmap is meaningless. And unless they somehow discover new funding, is going to be incredibly difficult to fulfill the vision and growth required.

2 Likes
8

Zooko Wilcox

Checks notes…

Happy to receive private VC funding for 2 rounds for his for profit Zcash Co IE no ICO
Founders fund → dev fund → CEO salary $300k 8 years
Supported ASIC mining instead of gpu algos
Supported lowering tx fees that led to spam and blockchain bloat
No actual code contributions in Zcash or Bitcoin but likes to say he made a blog post
Least Authority self dealing/loans for family and friends
Brothers Nate and Za and ex wife receiving Dev rewards
Legendary bad tweets and blocking any criticism or contrary views
Trademark and BOSL fiasco
Uses a Chromebook without a VPN
Loves plausible deniability called aka ‘‘community’’

6 Likes
11

With the price collapsing and funding drying up, we need to consolidate and roll this all up under one umbrella. 3 Orgs for a project this size with limited capital makes 0 sense. It is a failure of governance at a minimum The whole “consensus” way of running things resulted in a Frankenstein development project with little to no coordination between the orgs, apparent self dealing (and I scratch your back you scratch mine for funding), no accountability to ensure grant recipients acted in good faith, and little to no recognition ZEC holders are the core constituency. ZEC holders are the community. Zcash completely walked away from a vision of ZEC as gold 3.0 (or Bitcoin with privacy). We targeted spenders and not holders by erroneously believing ZEC was fiat while at the same time not creating a viable ecosystem by giving away the product to customers for free. If it wasn’t so sad, it would be funny; but we created more orgs than products. We have one core product ZEC and 3 orgs with one more coming and they all fight for a share of the block rewards coming from the same product. It seems like Zeboot can not come soon enough as a new vision is needed sooner rather than later.

(I can barely handle the volitlity of this knowing its a highly speculative investment; and they want people to believe this is a fiat alternative!)

5 Likes
12

The upside of the dump is that decisions like this are now on the table.

5 Likes
13

This post make me think that I am ok to lose money, a lot of money.
As long as the ECC & Foundation + company will fail and we will start from scratch. Your posts is a bit naive, but it’s good that everyone voice his/her own ideas.

1 Like
14

Very one dimensional thinking and a bit below the belt imo.

1 Like
15

Hitting all time lows in USD prices worries me a bit

2 Likes
16

Maybe its time to just force everyone through the turnstyle. I personally would like to have more conviction that the exploit was never really exploited. Plus, we are likely going to need to have serious cost cutting and that likely means deprecating the older high maintenance code?

2 Likes
17

There’s no exploit. Any of us can literally count all the coins and everything is normal there. The price is going down because of obvious panic. Most people don’t understand the meaning of “a coin can be delisted”, to them it’s just a hit or run signal. That is exactly what they are doing.

4 Likes
18

Comments like this are deceitful and not made in good faith. None of us are coming out of this week smelling the roses in relation to Binance. But to assume it’s the end of Zcash or even worse, an exploit happened and there’s unlimited ZEC; is once again below the belt.

Funny how it’s always the same people.

2 Likes
19

I never said anything deceitful. I said I personally want conviction. We all know that there is a possibility that some amount “could” have been minted. I have no idea how much. You said unlimited, not me. You are choosing to ignore it as a risk. So, you can say all you want; but until everyone goes through that turnstyle you are speculating. Isnt the entire point of a turnstyle to use it? If no one is forced through it, then why have it; especially when we know there is a risk. Even if its 1%; its greater than 0.

yes it is…BTW lowering risk, increases the price. So being able to say with 100% certainty that the supply is correct increases the ZEC price all else equal. So given your position to keep this as an outstanding risk, Im not sure what side you are on.

2 Likes
22

A post was merged into an existing topic: Moderation feedback

24

Ironic how it wasn’t such a “possibility” or so “urgent” last week, or the week before⁉️ You were as silent as a wall.

The reason the price is going down is as clear as day and night, Binance potential delisting.

2 Likes
25

Talk about deceitful posting. Ive mentioned it several times over the years (this is the third or fourth) if you paid attention… I never said its urgent as well. I said given the price declines, we can cut costs (well that is probably more urgent) by deprecating the old pools and forcing through the turnstile is a good thing to do now especially since the price is down. We get two benefits 1) cutting costs by deprecating old pools and 2) forcing through the turnstile at the same time. Both are good and neither is bad. My recollection is everyone wants privacy by default and this may also help in that regard too (I could be wrong on this point).

3 Likes
26

I’m with you on this. Would this make Orchard the only/default pool?

2 Likes