I know that at my age I’ve learned a lot but this i dont understand.
Zcash is a very good project that even major CEX are supporting it. Yet, it lost rank down to only be on top 200.
Can someone make sense of this?
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Cryptocurrency is extremely volatile. I think in five year timeframes when it comes to any coin. I strongly believe that the five year outlook for ZEC is incredible. But don’t buy any cryptocurrency if you want guaranteed returns.
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It’s not about the money and returns in money. It’s about how it lost rank versus a lot of nonsense coins.
Is it about the organization behind? The community? I think to be more clear.
Zcash shielded pools balance is going up-only mode. This is the most relevant chart when evaluating Zcash adoption as a private store of value.
source: Dashboard
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That’s good.
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Nothing is supposed to make sense in the hyperdebt bubble. Price is mistaken for value and vice versa.
I hope so.
You dont think your answer is too general? What about supply, mining and electric cost being cheap in China? Mining centralization and monopoly?
Coin distribution among investors during ICO? The ICO effect on future possibility of ETF that it becomes impossible?
Previous coin distribution protocols?
I will answer truthfully, sharing my opinion.
The first issue, which persists to this day and is evident above, is the general attitude of either “price doesn’t matter” or “the market is wrong.” This sentiment was even more prevalent in previous years, with vocal leaders making such statements or insisting there was no need to focus on driving value for ZEC holders. However, we have made some progress here.
The second issue is the token’s unhelpful economics. The decision to copy Bitcoin’s emission curve and start with a slow, gradual rollout resulted in two key problems: extremely high emission rates in the first decade and the creation of a scary, scam-like price chart on all exchanges. While some argue that “charts don’t matter”—and ideally, they wouldn’t—this is unrealistic in an industry dominated by speculators.
These two factors created a downward spiral in price, eroding sentiment over time and fostering disappointment and dissent. This atmosphere of discontent hasn’t helped either.
The third issue stems from early-stage technology challenges: longer block times and limited real-world use cases for private transactions. For instance, do they even support multisigs and time locks yet?
The fourth issue involves “polemical” statements, often taken out of context and widely shared. While this might not have been a major problem on its own, it was exacerbated by the fifth issue: the governance funds. These funds became reminiscent of predatory DAOs, with rampant politics and contentious debates. Personally, I avoided involvement for years because of this. Don’t even bring up the Zcash trademark debate—it’s a sore spot. I suspect many of the investments funded by governance were overpaid, short-sighted, and directed toward low-quality projects. It’s similar to government spending, where people use money that isn’t theirs on things that don’t benefit them. For instance, Polkadot reportedly spent millions to place a GIF on CoinGecko.
The fifth issue relates to the mining situation and efforts to resist ASICs. This was, in my opinion, a massive waste of time, energy, and resources. Additionally, it seemed poorly managed and led to an over-reliance on a GPU-hobbyist mining community. These miners had no real attachment to or interest in Zcash and would mine and dump whichever coin was most profitable that day. Larger companies with significant CAPEX investments tend to take a more conscientious approach to ownership. Just look at the major institutions holding Bitcoin today—they are miners.
So, to answer your question: what happened? All of the above.
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From here, is it possible to recover by any means? In your opininon.
Any opinion including Forks and Staking.
Or how can this small community recover based on its best weapon which is privacy.
Or can a Justin Sun just create a Tron from the idea of Ethereum?
most painfully true post I read here in a long time. hope that some of the old guard powre brokers here in the forum read this one a handful of times…
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No, it’s not. Zcash is not a good project.
Zcash is the best project in the crypto space.
Zcash is one of the few that makes sense because it has all the technical capabilities to do so.
This was all too obvious from the beginning. Look for answers in that direction.
To avoid going in the wrong direction, just keep in mind that all the people who backed it in the seed phase continue to care about Zcash, which means they probably haven’t changed their minds and are probably even building up their positions. Don’t let the market fool you.
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This is all true, and makes sense as part of my thesis that things happened the way they were supposed to.
People are being screened out. People who don’t see the right things will stay with meme-coins. People who understand why cryptocurrency was created will be with Zcash.
Ask yourself the question, have so many people made money in Bitcoin? It’s a very small number of people, and they are exclusively people who understood the idea from the beginning and were true to it, rather than looking at the price chart as the answer to their questions.
Also, think about this. There have been so many bad decisions. There has been so much drama and division in the community. People have left slamming doors. But Zcash is still here and we are still discussing it.
Isn’t that the best proof that this is a phenomenal and necessary cryptocurrency whose future is yet to be revealed?
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Zcash has effectively operated in a prolonged “beta” phase since its inception, with shielded transactions remaining impractical for most users until recently. The integration of hardware wallet support, introduced only last month, marks a pivotal moment in its usability. This recent price action represents an exceptional opportunity, particularly for those new to crypto or those who have been on the sidelines for years. In my view, this is one of the most compelling opportunities currently available in the blockchain space.
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One very hard lesson I learned, especially with ZEC, is to never keep altcoins as long-term investments because many altcoins lose their value by the next cycle. Just look at the current price of ZEC or even ADA, which was significant in 2021-2022 but is now only around $1.00. New and fresh coins are released every cycle, like Sui in this one.
While ZEC’s privacy feature is great, it’s useless if nobody buys it. At the end of the day, I’m not loyal to projects; I’m loyal to profits. I’m not an expert in technical analysis, but ZEC’s chart is clear. Every pump is followed by a big dump, and now we’re back to November last year, with the current price only 2-2.5 times higher than the 2024 bottom, which is quite disappointing.
Hopefully, ZEC will get at least another pump this cycle, but as soon as it does, I plan to sell all my holdings. I believed in this project back in 2020, but I was wrong. The current price, market cap, and liquidity speak volumes.
Yeah but do you, i or we care if its meme coin or not when you make a good profit? I dont.
I dont marry with project but i do with profit. Apparently POS is on the way but what happened to that news? We havent heard anything since. If some ZEC holders still have appetite for another 5 years, good luck to them.
Yeah but what does this mean anyway ? So people stored in shielded pool. Thats about it.
My amateur prediction is if ZEC hits $100 this cycle, that is a miracle and i am happy to dump all my holdings. I believed in this project in 2020 but i was wrong and current price/market cap speaks volume.
@boseiji I’ve read all of this hundreds of times. Your opinion is not unique and therefore not very interesting.
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I wasnt trying to be unique or interesting. Did i hurt your feeling ?
That’s good that Keystone supports Zashi.
On the otherhand, the old hardaware users must adapt to a new brand (not easy).
I grew up as a Ledger user and migrating to Trezor was not something I’ve even considered, until i was forced when Ledger locked Zec, unwitdrawable unless unlocked with the 24 seed phrase on Trezor.
First movers always have the advantage, Bitcoin proves this point. So, the challegers can only be number 1 or 2 to get vested (Bitcoin and Ethereum) or must have a special feature like privacy perhaps to have a position in this game.
My prediction is that even Solana will have a hard time to keep that current position.
I wish Keystone the best and i will also give them a try.