Whatever you think of the tech, whatever you think of the developers, the ecosystem, the community, it’s very clear to any casual observer that the biggest problem ZEC currently faces is organized FUD campaigns. Take the r/zec subreddit. On the coattails of some rather impressive prices increases, briefly outpacing other privacy coins like Monero, the subreddit gets overrun by Monero shills creating threads with titles like, “Monero is Better than Zcash” and “Why I’m Not Investing.” The former is currently sitting at 54 upvotes when most threads in r/zcash are lucky to break 20.
So, a novice user notices the price increase and takes to reddit to do some research on this promising project they know nothing about, and they’re greeted with a “monero is better” thread right at the top of the ZEC subreddit with a massive amount of upvotes compared to almost every other thread put forward by the community. And worse, instead of axing the thread, which is completely reasonable considering the subreddit is about ZEC and the post is clearly inflammatory FUD, the mods leave up under the rubric of not “suppressing dissenting opinions.” I’ve never seen a crypto community fail to stick up for itself to the extent that ZEC fails to do so.
The FUD isn’t limited to r/zec it’s endemic in places like r/cryptocurrency, twitter, you name it. In a thread about ZEC transitioning to proof of stake with a fairly hefty downvote ratio, there are comments like "Still got nothing on Monero.“Zcash is awful, 20% dev tax on mining and now they want to move to pos?? So they already have the majority of the coins and now they will earn more just by having more? Also a trusted setup. Zcash isn’t even a privacy coin it’s a scam.” These comments are in almost every single zcash thread on r/cryptocurrency. Considering how astroturfed social media is, particularly reddit’s cryptocurrency sections, what’s being done to counter the organized FUD campaigns?