I read an article in a finance column that stated that Zcash is the only TRULY annon crypto. that bitcoin and the others can be traced if enough work is done. If that is the case and gov’t are cracking down on crypto’s then shouldnt there be a mad rush from bitcoin etc to Zcash any day now???
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@crazycraig You’re giving the general investing public too much credit. Right now only a small percentage of people investing in crypto actually know that Bitcoin et al. are not actually private. Due to a combination of poor reporting and a total lack of understanding by journalists, Bitcoin has always been touted as an anonymous online currency used by criminals on the dark web. Until the media starts reporting about the traceability of Bitcoin via blockchain analytics, people will not understand Zcash’s innovation or value.
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Also, I should add that governments are cracking down on the on-ramps and off-ramps of crypto, aka. the exchanges. Exchanges are being forced to comply with KYC (Know Your Client) and AML (Anti-Money Laundering) regulations, which means that you won’t be able to convert crypto to fiat or vice versa without the government putting a name to a trade. Zcash is not immune to this type of crackdown and it never will be. Governments only want to tax cryptocurrency transactions, not outlaw them altogether.
@_nur Yes, in theory that might work if you strictly bought and sold with cash, but then how do you trust the person you bought/sold from?
you meet the person eye to eye
Don’t trust every person you meet face to face, especially not anyone buying large quantities of crypto with cash. Do yourself a favour and pay your taxes on crypto.
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Oh dont worry i have no intentions of tax avoidance, this is just a second income stream for me, i even declare my wives cash income. I was just hoping that if word got out that Zcash was truly the only annon crypto then everyone would dump bitcoin and move to Zcash and make us all a lot of money really fast. faster than mining thats for sure
Also is there any way to get into litecoin, i read it was only open for a week to get your “proof of stake” and closed after that
litecoin is proof of work
yes proof of work now, but i read that it started as proof of stake, which was the required “get in” to a pool to do the proof of work, is that incorrect. given the value is so low i figured the POW would be very low at the moment, so it may be worth setting up a miner on a slower card for a week or two and get some litecoin to sit on and hope it moves later