Writer / producer @zcashmedia.
Joined March 2018
- Tweets 7,813
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roommatemusing π‘ retweeted
βDid you ever hear the tragedy of Darth Plagueis the Wise?β
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roommatemusing π‘ retweeted
Extremely unlikely that someone has actually exploited it, hackers always dump the coins as soon as they can. We'd see it go to zero within a day if someone did that.
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Was it just me, or did the Zcash shielded supply bots on here (@ZbitUSD and @ShieldedFlow) all get deactivated for a few months?
I see @ShieldedFlow is back now. Tbh, these bots are good as part of the overall awareness of shielded stats and gamifying shielding.
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Yea, couldnβt take the chance anymore guys, I had to unshield. Donβt hate me.
ππ¨π¦π§ ππ‘: π¨ UNSHIELDING ALERT π¨
π A wallet just unshielded 60,274.70 ZEC ($19.54M) from the Orchard pool
π Txn Hash: d860bc0f19e7d14cac8f038b5fcab374253ba028de5aa97df14a15f8830d661f
π‘ Total shielded ZEC across all pools: 4,914,657.24 ZEC ($1.59B)
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Ethicsmaxxing
The Zcash engineers are my family, and everything good in my life traces back to Zcash. I couldn't live the rest of my life knowing I committed that kind of betrayal.
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Bro could have literally minted millions of dollars in an evening and no one could have known.
Humans are awesome.
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You notice no serious ppl (or even half-serious ppl for that matter) suggested that the Zcash devs used their inside information of the patched bug to dump ZEC before the news broke because everyone knows theyβre ethicsmaxxing chads.
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Look at it this way, Zcash was just trying to give every citizen the same power as the Central Banks: the ability to print free money.
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Net positive chads like Path are vacuuming up Zcash supply and youβre bearish??
something something buy wall
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Whales are using a patched exploit in ZCASH as cause to dump the markets. Never thought Iβd see the day Zcash became so important.
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Literally almost everyone who is FUDing Zcash right now is doing it so they can buy lower because even they know the Zcash narrative is airtight and the security and dev teams are mega locked in. Tbh, I canβt blame them π€·ββοΈ
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My quant
We can formally verify Zcash's shielded protocol so that the concern you're worried about -- the unique class of supply integrity vulnerabilities -- is actually *impossible.* (It mathematically reduces directly to the cryptographic assumptions.)
It's something we can probably do within weeks for our *existing* protocol, because the theorems are very simple and the proofs don't have to be written or checked by humans anymore... I think this more than satisfies the concern.
I've actually been talking about this for Zcash for a long time now! I've been blogging about it for nearly a year, we hired experts 6 months ago to help us formally verify our upcoming Zcash upgrade, it was the main focus of a post of mine last month... It's just that nobody really gives a shit about high assurance cryptography until there's a bug.
tachyon.z.cash/blog/folding-β¦
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Very similar dynamic now as in the last incidence of Zcash turbulence. FUD will spread now, price will dribble down, eventually serious buyers will support it. And never has there been a stronger Zcash ecosystem.
My personal Zcash prediction: average user UX will be destabilized for a time if consensus around a new wallet is needed. Then, eventually, UX will re-stabilize and likely continue to improve and generate momentum. As for price: short-term mildly bearish, long-term bullish.
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Bitcoin: *Dumping because one manβs financial ponzi is unraveling*
Zcash: *Dumping because a white hat hacker used state-of-the-art AI to remediate a bug in state-of-the-art privacy code before it was exploited by North Korea*
We are the not the same π€
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The thing with Zcash is that it has a different mandate than Bitcoin. To deliver open, encrypted money at scale, it has required, and will continue to require, orders of magnitude more complex tech. It comes with the territory.
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Frankly, Iβm in favor of anything the devs feel is necessary to speed up innovation (e.g., Sprout deprecation). Zcash is not something, yet, that you should expect to store coins for 10 years and have no changes. This a red herring expectation that handicaps progress.
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Given its mandate, Zcash will therefore have more volatility in the short-term, which is a blessing and a curse, but favors those willing to take the risk to invest throughout an evolving UX.
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