zcash is like a time machine for the entire world to buy bitcoin at sub $100 but this time it's actually freedom money

bitcoin down zcash up

what other tech example can you think of where the first mover later got flipped by better tech (within the same industry) and it cooked that entire industry forever? i can't think of one example. so why is bitcoin special in this regard? hint: it's not special zcash is here

1GG9pvrCLcTNBqwoLTKih3d9eSuNPX4aAd porting big slugs of a 55 Bitcoin balance held since 2014 to Zcash. Nice.

Over $2.4 billion ZEC has moved across NEAR Intents. Zcash chooses NEAR.

While I deeply respect the cryptographic research that @nemothenoone and the @allocinitxyz team are pursuing to enable covenants on Bitcoin without a soft fork, it’s worth emphasizing that the cryptography underlying this approach is still highly experimental, and its security assumptions are far from established. It will likely take years of research and scrutiny before there is enough confidence in these constructions for use in Bitcoin applications — and realistically, that confidence may never materialize. I love the boldness of their vision and I’m impressed by the progress so far. At the same time, I think it’s important that the community has a clear understanding of where the research currently stands and how uncertain its practical viability remains from a cryptographic perspective.

not sure anyone read the thing beyond the title tl;dr - if you somehow solved the laundry list of fundamental issues, then even after that you would still be roughly 7 years behind zcash it's a synthetic ledger with significant tradeoffs, some of which are fundamental (can't be mitigated), and others requiring many, many years of work + new research to be published and scrutinized (assuming it can even work) the Bitcoin L1 does not validate the private state, prevent double-spends, or reconcile the balances, that's enforced by some offchain protocol -- so, saying L1 transfers is not entirely honest it also has: - a trusted setup - no fee anonymization (much worse than it sounds) - no in-protocol mechanism for getting actual BTC in or out (which means you are holding synthetics) - no real consideration for scale - several offchain parts that can't be run locally which means tracing and linkage and censorship - vulnerability to quantum without a plan - no working implementation for witness encryption where the last used scheme was broken (!) and depends on 330 TB ciphertext. that's terabytes btw (though they claim advancements here so let's see) it only somewhat can work if: i) you somehow acquire the private synthetic BTC inside their ledger to begin with (you cant) ii) every counterparty recognizes the same offchain metaprotocol iii) some trust minimized mechanism connects the synthetic balances back to actual BTC iv) several other advancements are made to the scale, quantum, and foundational cryptography considerations, which is experimental and would require many years to establish (if at all) point iii) specifically means that this is not fungible for the underlying I respect that people are working on this and taking notes from zcash finally. but the claims on this app vs. what's established are light years apart

what if zec and near are the new btc and eth

have a feeling zcash about to catch a huge bid

The "Shielded Bitcoin" paper is a great step forward. More privacy on Bitcoin is good for everyone. Fun fact: Zerocoin, the paper behind Zcash, was first proposed for Bitcoin in 2013. The Bitcoin community passed on it, as zero-knowledge proofs were still immature. But the solution the paper presents is not competition for Zcash: - It uses a trusted setup - There's no consensus enforcement - No trustless light clients - Its bridge, usually the most hacked part of these designs, isn't specified yet - Bitcoin L1 transaction fees - It doesn't have a >$7B shielded pool with millions of transactions to hide in - It's a paper. Zcash has ~10 years in production, pioneered ZK proofs in production, and has the wallets, audits, and hardware support. More broadly: privacy works best when built into the base layer. Not requiring Bitcoin changing is this design's biggest selling point, and also its biggest drawback. We're rooting for more privacy on Bitcoin. Financial privacy isn't zero-sum.

bitcoin is about to enter full-blown crisis mode over zcash

First they ignore you, then they call you a shitcoin, then they publish your protocol under a new title and tweet you to zero lol

NGMI... they finally realized BTC is a useless bag of hot air good for nothing except financial speculation ... now they're scrambling to cook up a narrative to stop the Zcash tsunami! Bitcoin isn't a digital asset, it's a cult of libertarian psychopaths. SELL BTC, BUY ZEC.

note that no one is interested in adding monero’s privacy to bitcoin

bitcoiners are absolutely this retarded

similar papers came out during the eth super cycle (where eth nearly flipped bitcoin in mc) about adding programmability to btc bitcoin maxis gushing over this shielded btc paper shows how badly they want to be zcash rn this is signal and the signal is zec is going way higher

🛡️🛡️🛡️Shielded Zcash transactions are now available in Ledger Wallet desktop 🛡️🛡️🛡️ I personally committed to this one. It took far longer than I expected, but it is now delivered, and that is what matters. Privacy here is not a server setting. To keep your shielded balance private, the scanning and the transaction building happen on your machine: your unified viewing key is stored locally and is never shared with anyone, including us. That is exactly what made the integration trickier. When it comes to signing the TX, the ZKP is computed on your machine (it's much faster with Ironwood now 🚀), and then the transaction is signed on your device, on a screen you can trust. Make sure your Ledger Wallet Desktop and Zcash app are up-to-date, and you're good to interact with Ironwood! Privacy is normal ✊ Stay safe.

zcash will be trading well above $1,000,000 by the time this never comes to bitcoin

Bitcoiners retweeting a quirky, non consensus integrated, clunky & slow in research phase privacy solution for Bitcoin, that has no chance to be usable at cash scale and that will take years to get somewhat usable UX... is basically writing ads for ZCash