Ted
Bitcoin/Ethereum Research, On-Chain Data & Macro-Based Trading
Zcash is done after a bug let anyone freely mint ZEC, and its privacy narrative is not showing up in actual demand. Outside niche uses, Zcash processes fewer than 10,000 transactions a day, about a third of Monero's and well below chains like Berachain and Monad that many consider dead. A 21 million supply cap is not unique, and privacy belongs inside protocols like Ethereum and big wallets rather than in standalone privacy tokens. x.com
Zcash's rally looks like a coordinated short squeeze, not sustainable price discovery. The privacy narrative is hot again, but Zcash has not suddenly solved adoption, liquidity or regulatory headwinds; low float, thin liquidity and aggressive perp positioning are producing violent upside candles. Parabolic moves cut both ways, so funding, open interest and liquidity are worth watching closely. x.com
Zcash's privacy makes critical bugs undetectable, so a flaw could let someone print unlimited ZEC and dump it unnoticed. Two critical infinite-mint bugs have now been found, possibly more, and everyone is hunting for them with AI; unlike transparent Bitcoin, such inflation cannot be automatically detected. Regulation also leaves no viable path to adoption, since no AML-compliant company can accept it. x.com x.com x.com x.com x.com
Zcash's rally lacks visible demand. Its privacy-focused ethos is respectable, but buyers are hard to identify, and the move looks driven by a low float, as @StockBaron_ suggests. x.com x.com x.com
Zcash's privacy is its lasting edge because bank accounts may never become private, while quantum resistance should become a requirement for all survivors. Its public transactions make institutional integration easier than Monero's, giving it a larger potential market. Monero has value and is probably oversold, though FCMP++ has no clear timeline. Institutions' comfort with Zcash could fade if governments clamp down. x.com x.com x.com x.com x.com x.com
Zcash is running what amounts to an unlimited mint scam, and the timing alongside Mert's move to Dubai is oddly suspicious. x.com
Zcash is a shitcoin, and buyers are going to lose their money. Money can only succeed when no central entity controls it, and the world is realizing there is Bitcoin and then everything else, with no second best. ZEC has traded near zero since 2016. x.com
The Shielded Bitcoin paper is no competitor to Zcash, which keeps its lead in base-layer privacy. The paper relies on a trusted setup, lacks consensus enforcement and trustless light clients, leaves its bridge unspecified and pays Bitcoin L1 fees. Zcash has a shielded pool of more than $7B with millions of transactions to hide in, about 10 years in production, and the wallets, audits and hardware support; privacy works best when built into the base layer. x.com
Zcash does not deserve the attention it is getting: it is a poor security token that can be controlled and manipulated. x.com
Zcash's trust as a currency is broken after a flaw allowing counterfeit tokens was exposed, and it could be sold to zero. Per @BullTheoryio, researcher Taylor Hornby used Claude Opus to build a working proof of concept that minted fake ZEC through a bug hidden in the Orchard privacy pool since 2022. It was patched June 2, but Zcash's privacy design makes it impossible to know whether fake ZEC was minted before the fix. ZEC fell over 50% in a day, and any rebound should crash again. x.com x.com … Show more
Zcash's store-of-value narrative is more valued than revenue-linked privacy applications for now. Revenue-generating tokens could outperform once trust is established, but privacy store-of-value tokens remain the preferred narrative today. x.com x.com
Zcash is a higher-risk store of value because bugs in its proof system have made undetectable counterfeiting possible. Those bugs have been exploited twice, and nobody can verify whether counterfeit ZEC was created. Litecoin's MWEB privacy layer had a validation bug exploited to mint 85,000 counterfeit LTC, showing privacy-focused monetary systems can introduce real security and supply risks. Their privacy can still make them useful for moving funds quickly and privately. x.com
