CryptDollar 🛡️Z̩̍

someone make a polymarket on whether they think the zcash bug was exploited so we can see who actually believes it vs baiting engagement you will be able to definitely prove whether it was or not with the next network upgrade so oracle for it exists

There's a lot of confusion about the recently patched Zcash bug. Here's how to actually understand it. If the bug had been exploited before the patch (very unlikely it was), it would have looked like the shielded pool getting drained. Whoever minted the counterfeit shielded ZEC would want to sell fast, before anyone else found the same bug. And remember, the market for ZEC is almost entirely transparent ZEC, not shielded. You can't dump freshly minted shielded ZEC on Binance or Coinbase without unshielding it first. The losers in that scenario are shielded holders who sit still. The transparent portion of Zcash is fully visible, so it's trivial to enforce that transparent ZEC never exceeds max supply. If you try to unshield more than the cap, you'll get stopped at the door. So if you hold transparent ZEC (anyone trading, on an exchange, or doing price discovery on ZEC) there's no marginal effect on you. The loss falls entirely on shielded holders. The team's next step is a new turnstile and a fresh shielded pool in the coming upgrade, which will confirm the shielded pool was not inflated. Think of it as taking headcount at the end of the field trip--that will make sure no extra kids snuck onto the bus. But while AI found this bug, AI will also deliver the fix for the whole category: formal verification. I'm very bullish on this as the path to harden all software across the industry. Formally verified cryptography can't have implementation bugs by construction. Right now AI is surfacing vulnerabilities across all our software--browsers, OSes, and blockchains are no exception. We're in the awkward adolescence where every wart is getting magnified and put on full display. But formally verified software is the only path forward for mission-critical software, and Zcash has put it front and center on their roadmap to deliver. Privacy is too important not to. (Dragonfly holds $ZEC and continues to. I'm personally an investor in ZODL.)

There is very strong evidence there wasn't any exploit, the supposed attacker would have had to: 1. Out-audit every Zcash core security contributor combined. 2. Sit on counterfeit ZEC through a massive bull run instead of cashing out. 3. Then still not cash out even after hearing the proposal to replace the Orchard pool and force all coins through the turnstile. Meanwhile the shielded pool is not budging.

Market is down, everyone is unhappy. But has anything materially changed? No. Exit taxes. Asset seizures dressed as wealth taxes. Rising authoritarianism. Infinite fiat inflation. Capital controls. Surveillance states. Those are all coming soon if not already happening. The thesis is intact. Bitcoin can't help here: it's fully transparent and has no roadmap to tackle quantum attacks. Dalio won't touch it because "all transactions are public", making it a non-starter for central banks. Gold can't help here either: it's physical, cumbersome and easy to seize. Try crossing a border with it or sending it to someone online. What's left? Zcash.

🚨Confirmation of a massive potential ZEC exploit TLDR: - ZCASH hired a security researcher to try to find exploit vectors - The researcher (Taylor Hornby) found one that would let him create unlimited counterfeit ZEC in a shielded pool - The exploit is now fixed as of June 1 - There is no way to know if the pool was exploited BUT the team feels that it is unlikely - They're proposing a network upgrade with new accounting that would prove whether any counterfeit ZEC was created or not Market clearly spooked with ZEC down 25%

🚨 BREAKING SATOSHI ERA WHALE JUST DUMPED $350,000,000.00 $BTC AFTER 16 YEARS OF HODLING. HE SURVIVED THE MT. GOX HACK, COVID CRASH, LUNA & FTX COLLAPSES, BUT SOLD ALL HIS BITCOIN TODAY. LOOKS LIKE HE KNOWS EVEN MORE BAD NEWS IS COMING SOON...

I believe we all have the opportunity to go to space. The price collapse is just inevitable.

MARC ANDREESSEN: "We had meetings with the Biden admin where they told us to not even start AI companies because there's no way they'll let them succeed." JOE ROGAN: "What do you do after a meeting like that?" MARC ANDREESSEN: "You go endorse Donald Trump." LMAO

Fascinating 🧐

Henry Nowak’s sister posted a heartbreaking video of her and her brother together, a reminder that behind every headline is a family whose world has been turned upside down

Brilliant move dude…

Every company’s AI workflow rn be like 😭💀

🚨UPDATE: ZCASH NETWORK WAS NOT DOWN The apparent outage was caused by block explorers failing to update after a coordinated network upgrade addressing an Orchard pool vulnerability. Earlier, explorers showed no new blocks after block 3,364,601 at 5:27 a.m. UTC for more than 4 hours, sparking fears the chain had gone offline.