We've been placing some fairly substantial buys of Zcash (ZEC) this morning.
ZEC trades on Gemini in the US, and on Coinbase Pro for institutions and professional traders (see https://blog.coinbase.com/zcash-zec-is-launching-on-coinbase-pro-b925309ce09c).
With all the political instability in China and the tensions with Hong Kong, as well as rising political instability in the world, I think the world is finally ready for a privacy coin. Aside from having a feature that lets you send "shielded" transactions to another user or address you specify, it functions similar as Bitcoin, and in fact relies on much of the Bitcoin core codebase.
When a transaction is sent shielded, details such as the amount are kept encrypted and can’t be seen by third parties without the view key. For public tipping addresses and other unshielded activity, you can create a “transparent” Zcash address in your wallet, which will always begin with the pre-fix t. (Non-transparent addresses begin with the pre-fix z.)
A market leader like Gemini offering ZEC to their customers for trade tells me it's not a shitcoin, and despite a nice run-up lately, it is still a battered coin in terms of value versus a year ago...
ZEC is down about 35% from this time a year ago, which makes it a potential bargain in my personal opinion, given my personal high risk tolerance for trying out new crypto technologies.
Compare that to Litecoin (LTC), which also trades on Gemini, and which is up about 160% from this time a year ago, despite being an older coin without the exciting built-in privacy features of Zcash.
I look for values, not only risks.
Plus, maintaining your financial privacy is becoming a do or die prospect for nearly everyone on the planet - in China, the wrong transaction means you can be sent to prison, and while in prison even have your organs harvested so that some old politically connected piece of garbage can see using your eyes or live using your heart.
And in the West, it's little better: the President is hounded by his opponents for details on all his past financial dealings, the wrong disclosure could be damaging. And if you support this man - or any of his populist policies - you are at risk of being "de-banked" or otherwise excluded from the legacy financial system.
Zcash was an oddity when it launched a few years ago, and I wisely avoided it then. Timing is as important as picking the right crypto horses. Enjoy updates like this one? Get our newsletter so you don’t miss our political and currency research from D.C. throughout the week! Add your email here.
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