Fibonacci believooorrr
Joined October 2022
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Freetwain (💙,🧡) retweeted
what's very interesting is the ZEC shielded pool went up during that dip
I'm not a trader, but that PA suggests to me: i) people are likely trying to capture grayscale ETP arb (I could be totally off on this)
ii) coin was up 900% (and is now up ~525%), since shielded pool didn't budge, obviously a lot of tradoooors rotating into perceived undervalued majors as they realize market might be shakier than previously thought
one thing to note is that winklevoss dat purchased about 1.5% of the supply at ~$280 avg and their goal is 5% of supply
overall unrealistic for a coin that was at 600M mcap (!) to almost flip into top 9 and then not do price discovery during a big nuke and huge weakness
again, most assets are *down* colossal on the 6m, ZEC is *up* 525%
one thing forsure is that the asset has fundamentally reclassified itself, it was barely in the top 100 before, now it's going to always content for top 10 at minimum
in terms of defensibility, I think mixers in privacy are structurally easy to compete with (Ethereum/Solana could take on them pretty easily)
but an encrypted bitcoin-like SoV asset with 8 years of PoW distribution and probably the most interesting story (ties to satoshi, first production system on earth to ship ZK, etc) almost certainly can never be recreated
this is all to say
there is no way I'm stopping talking about this until encryption is the norm
Freetwain (💙,🧡) retweeted
I think liquidity and volume was too concentrated on $ZEC. There was an opportunity to really lift the entire privacy sector but many coins in that category barely moved, that was intentional. So what does that tell me…?
Many are calling it a coordinated pump but I don’t see it that way, I was stupid early and saw the writing on the wall. The first leg up tested the appetite and sentiment for privacy. Now that it’s been solidified the sell off will allow for greater accumulation before a much broader breakout. Thesis has been confirmed now bigger players want in.
As I mentioned previously the $200 - $300 area is a good accumulation zone but a deeper panic down to $100 or so is very possible as well. If you believe in it and have a longterm outlook DCA’ing is the way.
I do believe that privacy is fundamental technology to the growth of the ecosystem and it has a bright future.
Instead of adding to the FUD after a 3 month rally, focus on the big picture and why it became relevant in the first place.
$zec at $720 is actually insane lmao.
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Freetwain (💙,🧡) retweeted
4.91M ZEC are now shielded,
crossing the 30% shielded percentage mark for the first time
This means that people acquiring Zcash in the past weeks are doing it with privacy, tech, and utility in mind, not just speculation
This also means a lower ZEC supply on most exchanges
Freetwain (💙,🧡) retweeted
this is what you call missing the forest for the trees
you've got to assume that any transparent address on any chain you've used will be deanonymized by an ai at some point
so going from a transparent address on a CEX to a shielded address on zcash (via another transparent address) is equivalent to going from an ethereum /solana/bitcoin address to a shielded zcash address
once you're in the shielded pool there is no information leakage past that point (it doesn't matter where your funds originally came from)
no one can see what you've chosen to do with those funds without your consent
this has strong parallels with gold fwiw. approx 22% of gold is stored as numbered (non fungible) bars in vaults. but you can reset provenance (in a sense shield it) by turning that gold into another form (recasting, jewelry, etc) -- unnumbered gold coins already preserve this property by default to a certain extent
gold's ability to be free from connections in this way is one reason why dalio thinks it is a more appealing sov than btc long term. its ability to be stored in a non-private / non-fungible way (e.g in vaults) doesn't detract from that, it just gives it broader appeal
Freetwain (💙,🧡) retweeted
Some interesting snippets from @zooko 2022 appearance on @UpOnlyTV about $ZEC:
> Cobie tried to contact Zooko for a full year, thinks Zooko is very smart
> Zooko was cited multiple times by Satoshi, talked with him by email
> Zooko has been working in crypto since 1993
>Zooko personal friends with Hal Finney long before BTC
> Core BTC devs loved zcash science white paper and said they would implement privacy once it was more battle tested, core BTC loved the idea of privacy
> privacy is required by everything and cannot be “bolted on”, there’s no spectrum to privacy, any leak anywhere kills it
> Canadian trucker rally a prime example of how BTC fails in its original ideals
> POW actually is less fair than POS in terms of how economies of scale work
> ZEC ceremony required novel cryptographic practice to make sure no one had the secret key; @Snowden was part of this ceremony
> @ebfull was the first person to ever discover recursive and trustless ZK proofs (HALO)
> HALO removes dependence on initial ceremony setup, tech was then used by ethereum zk rollups and filecoin
> Zooko was part of BTC core community and even contributed pieces, is ultimately disappointed into the ossification of the protocol, it used to be more cypher punk
> Zooko helped audit eth before it launched and literally called out the dao hack vulnerability 12+ months before it happened
UpOnly with @zooko about privacy, early crypto, and how Bitcoin fails at its early mission
Presented by @ftx_app
youtu.be/AjC9T938o3Q
Freetwain (💙,🧡) retweeted
Zcash paradoxically has the edge on bitcoin.
In SoV terms, price appreciation is the main feature.
Zcash being worth a small percentage of Bitcoin gives it the potential to massively outperform -> for years.
Private and scalable bitcoin is something no one else can achieve. If a team started now they would have to wait 8 years to become investable from supply unlocks. Bitcoin culture is not able to facilitate this.
Zcash is the only competition
