@cypherpunk@in4crypto No, there are plenty of good reasons.
When you want clear proof of a transaction and ownership of the funds (taxes, charity).
I’ve been saying this for months, well before the pump: the day all transactions become fully private will be my last day as a ZODLer.
Something nice about Zcash is that many different camps agree that it's truly crucial for the world.
The Winklevii, Vitalik, a16z, Toly, Balaji, Paradigm, Mert, Naval, Multicoin, etc. all support it.
Only exception is Bitcoin maxis, and it's pretty easy to understand why.
I just spent the evening with one of these heroic leaders. Even with ZEC, it's challenging due to final mile problems. The naive belief in Bitcoin could have cost this person and their network prison or worse. They had no idea how it worked.
I attended a HRF training session that provided bad opsec and put people at counterparty risk. Your intellectual dishonesty and bravado are troubling. You respond with "shilling a premined shitcoin" nonsense when what matters is the security they need.
@GoodTexture About a year ago, I wrote him that no technical analyst has ever successfully predicted the big crypto pumps, and that when Zcash’s big one finally came, he wouldn’t see it coming.
That’s exactly what happened — and he kept reading the charts the next day anyway.
@nate_zec@zooko Dear Nate, I hope you’ll come back to visit Italy soon, and I hope you enjoyed your stay!
It was really a pleasure and an honor to meet you 😎😘
Italy, cute bespoke cafe: high quality cappuccino & bottled water: €1.5 - €4, 5m prep time with a healthy dose of gesturing.
SF, just-another-Starbucks: ho-hum latte & bottled water & whatever multitude of fees SFO tacks on & tip: $14 😱, 1m prep time, very little gesturing.
I may be a simple mind, but I don’t get why everyone wastes time reading the $ZEC chart without simply understanding that if the famous orange memecoin is worth $80k, $ZEC — which does everything better and actually serves a purpose — can’t possibly be worth $550.
You simply cannot replicate 10 years of PoW distribution.
That's 10 years of ZEC being accumulated by die hard believers in encryption, when few people cared about it.
You can't just copy that social layer, it took a decade to build.
I got deeply into Zcash last year (after trying the Zashi wallet, now called Zodl). Before that I only dabbled with various other wallets over the years and it never felt "quite there yet".
So I have no personal knowledge of the history of Zcash, but the results speak for themselves.
It's clearly working much better now and moving in the right direction fast and with way more teams. The linked post from @jswihart gives a good overview of what was necessary for Zcash to get so strong last year.
A big thanks to all the people who got it there over the last 10+ years 🙏
I believe Zcash is truly one of the most important projects in the world right now.
No financial privacy means no personal freedom.
So while there are the occasional infights in the Zcash community I think it's important to remember that we are all on the same team:
Team financial privacy, team personal freedom, team Zcash.
We are going to encrypt the money.
Onward 🛡️
@genzcash@zooko Dude, don’t listen to the critics and just keep going your own way.
Like I wrote to you a while back, ever since you showed up, Zcash’s marketing has really turned a corner.
Keep up the great work you’re doing—making Zcash understandable to anyone, not just the eople in the space
it's a bit like saying "why would I invest in apple if ppl use ibm already"
it's an unserious frame
answer to it is easy:
i) zcash historically was super hard to use. it wasn't until the last year and a half that it became feasible. this is because zcash pioneered the field of zk, which took a lot of work. in the meantime, xmr launched with weaker cryptography and got network effects
(That weak cryptography is gonna bite them in the ass hence quantum retrotracing and the swath of monero tracing companies)
it's the same reason why many merchants use tron and not solana/ethereum. it's not because tron is better, it's because it attacked a certain niche very early on
this is now changing fast
ii) ppl can take their engineering advice from 3rd tier drug dealers, i prefer mine from engineers
iii) thinking privacy's main benefit is for criminals is what's held back the industry this whole time. I do not give a shit what criminals do, privacy is for all individuals
ppl can remain in their little edgelord boxes, but we will scale encrypted money to planetary scale
@LambofCrypto@CryptoWizardd in 2015, we had no clue there was $2 trillion in demand for a global, decentralized digital store of value like bitcoin. in 2015, we also thought bitcoin was, generally speaking, a private way to store and send value around the world. Zcash will benefit from now knowing better