Zero Cash
Zcash is purely backed by euphoria and nothing else. If someone can actually explain the pump id be happy to hear but lets look at it like this:
1. coin pumps and we have mert hard shilling wich pumps it even more
2. more kols jump on the bandwagon telling everyone that we need the privacy coin!! (more on this below)
3. we get a wave of people who are suddenly die hard community members, we see people add shields to their names .
yet the thing is all this "community" is just not real who probably cant even explain how the coin works will only stay when the coin is green, theres no one building meaningful tech and theres no one using the chain ( more depth into why here - but lets look at the simple facts that we all know.
1. tor is free i encourage anyone to download it do some market research and look at what should be the number one users of this so called privacy coins (criminals), visit any site where you can purchase illegal substances and the one thing I promise you wont see is zcash and trust me if zcash was actually revolutionary privacy they would be using it. But unfortunatly its not wich brings me to my next point.
2. So now that we can pretty much say that zcash is obviously not the choice for anyone who actually wants to stay private. You have to ask yourself what is the point of the coin?
My underlying point is that no one uses Zcash when the price is down and Ive brought receipts. ive made a diagram comparing Zcash onchain transactions to its price when it first started to move.
as you can see
price up = more transactions
price down = less transactions
for other cryptos like Solana price does impact transactions especially because of onchain trading and price down = more fear and lower moral.
But for a "utility" coin you would want to see a more stable transactions not pegged to the price because the coins price does not affect utility and privacy is always needed (this is why we see stable xmr transactions).
This scam wick has been fun for alot of people but if I had to advise them id say this:
Dont get trapped in a euphoria bubble waiting to pop. If your aware and simply just hyping it up on the timeline because you want more mindshare and more sheep as EL then fair game but if you've been coerced and dont know any better and truly believe in crypto and privacy id suggest you buy Monero.
Will be looking for shorts when the music stops
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