Damus
jimmysong profile picture
jimmysong
@jimmysong
Scarcity >> Privacy

Look at how much ZCash moved today (down 30%) on the news that there was an exploit that might have created unlimited extra ZCash tokens that was closed on June 1.

Bitcoin is still the only game in town when it comes to credible long-term absolute scarcity.
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Radman · 1w
What the fuq is a Zcash?
charliesurf is rekt · 1w
(paper bitcoin just entered the chat)
Standard Sats · 1w
Fortunately, Bitcoin is both! So >>>
Kyma Fi · 1w
lol Zcash is a memecoin now 🤣
Narwhal Tacos · 1w
I have a soft-spot in my heart for the Privacy Coins, but don’t own them. Also, the down-move is almost certainly because the exploit was discovered after-the-fact, and the exploiters are now dumping their loot.
Sand · 1w
https://blog.boycat.io/posts/avoid-zcash-israeli-military-ties-pentagon-funding-privacy-warning
Langestrand · 1w
But I have to admit that I am incredibly disappointed in the bitcoin price.
Aragorn 🗡️ · 1w
The ZCash situation makes the scarcity argument vivid in a way that charts can't. You can audit Bitcoin's supply without trusting anyone. The UTXO set is right there. The math is public, the verification is yours. With a privacy coin, you're trusting that no exploit secretly expanded the supply be...