How did invisible Bitcoin ZEC become a safe haven in a bear market?

Author: Naly

Compiled by: Deep Tide TechFlow

Abstract

Zcash (ZEC) can be seen as the privacy version of Bitcoin.

It has the same supply cap, the same halving mechanism, and the same deflationary structure as Bitcoin, but it is invisible.

As institutions, governments, and native users of the crypto industry gradually view Bitcoin as a sovereign store of value, the world is beginning to realize the need for a second dimension of currency—one that is not only scarce and self-custodial but also possesses features of permissionless and privacy protection.

In this rapidly advancing world of artificial intelligence monitoring, programmable currencies, account freezes, and cashless control systems, Zcash provides a second dimension of monetary freedom—one that is not only scarce but also able to be protected.

This report will delve into the core concept of Zcash as “invisible Bitcoin” and why it may be one of the most asymmetrically potential investment choices in today's cryptocurrency space.

Main Highlights:

A currency system with a fixed supply limit similar to Bitcoin, but its maturity is still behind two halving cycles.

Rooted in a deep background of cypherpunk, including a cryptographic setup involving Edward Snowden.

Even without technical knowledge, it's easy to understand: the concept of invisible currency is intuitive enough.

Regain the attention of institutions and thought leaders, such as Naval Ravikant, whose support is based on the increasingly important reality of financial privacy rather than hype.

This report breaks down the investment logic of Zcash into eight key areas:

Ideology

Origin Story

Technical Advantages

Competitor

Token Economics

Macroeconomic correlation

Risks and Challenges

Investment Logic

1. Ideology

The birth of Zcash was not to compete with Bitcoin, but to complement its shortcomings. Bitcoin grants monetary sovereignty, while Zcash grants monetary privacy. It extends Satoshi Nakamoto's design into the realm of invisibility that Bitcoin has always been unable to control.

From the early development of Bitcoin, privacy has been seen as one of its fundamental weaknesses. Hal Finney—one of the first people to run Bitcoin and the recipient of the first transaction sent by Satoshi Nakamoto—had a clear understanding of this. He warned that while Bitcoin's transparent ledger has significant advantages in verification, it inevitably undermines its fungibility, as the history of coins can be traced and distinguished. For Finney and the early cypherpunks, this undermined the core concept of digital cash.

Hal Finney was active in the cypherpunk mailing lists in the 1990s, where the community first discussed concepts such as zero-knowledge proofs and cryptographic anonymity, viewing them as tools for achieving personal autonomy. He firmly believed that future digital currencies need to have both verifiability and privacy.

Years later, Zooko Wilcox—another veteran cypherpunk and early contributor to Bitcoin—dedicated himself to solving this problem. He collaborated with a world-class team of cryptographers to co-author the academic proposal Zerocoin, aimed at providing Bitcoin with a complete transaction privacy feature. However, when the Bitcoin core developers refused to integrate this proposal, the team decided to start anew and create a completely new protocol.

This protocol ultimately developed into Zcash and was officially launched in 2016. Its founding principle is simple yet radical: privacy is the default. It is not a privilege or an optional feature, but a fundamental attribute of sound currency.

For a long time, privacy has been misunderstood as secrecy or hiding behavior. However, in reality, privacy is about dignity, autonomy, and the freedom to choose to whom to disclose information. It is the silent cornerstone of self-sovereignty.

Bitcoin achieves censorship resistance through decentralization, while Zcash takes it a step further by introducing financial privacy. By utilizing Zero-Knowledge Proofs, Zcash allows users to verify transactions without revealing the sender, receiver, or transaction amount. It is the first to enable value transfer on a public blockchain without exposing identities or activities.

This innovation makes Zcash the first project to actually deploy zk-SNARKs in a permissionless blockchain, a milestone that has shaped the broader field of zero-knowledge cryptography. Even today, Zcash remains one of the few Layer 1 protocols that considers privacy as a fundamental attribute rather than an additive feature.

The origin story of Zcash connects two eras: the cryptopunk beginnings of Bitcoin and the forefront of modern cryptography. It represents the maturation of the ideas originally conceived by Satoshi Nakamoto, Hal Finney, and the early builders of the internet: privacy is not a vulnerability to be fixed, but a right to be protected.

2. Origin Story

At the inception of Zcash, encrypted parameters needed to be generated to facilitate shielded transactions. However, if these parameters were compromised, it could theoretically lead to undetectable currency inflation issues. To mitigate this risk, the Zcash team designed one of the most intriguing launch events in cryptocurrency history, known as “The Ceremony.”

"The 'Ceremony' is a globally distributed multiparty computation activity that employs extremely high operational security standards during its execution. Each participant operates in a physically isolated environment, using devices that are isolated from the network, and destroys all cryptographic materials after completing the tasks. The goal is to ensure that no single party, or even multiple parties colluding, can reconstruct the key.

Among the participants was Edward Snowden, who participated under a pseudonym and did not reveal his identity until 2022. As a symbolic figure in the digital privacy movement, Snowden's involvement further solidified the status of the “ritual” in the history of cryptocurrency.

Radiolab's coverage of this event is like a science fiction novel:

Wizard Hat

Paper map, no GPS

The hardware is burning in the bonfire.

The randomly selected hotel had its television removed.

The laptop sleeps under the pillow.

Remove the mobile battery during the call.

Bitcoin has a Genesis Block, while Zcash has a “ceremony.”

Bitcoin records history, Zcash encrypts history.

If you believe that privacy is a collective right, then Zcash is the starting point of this idea. This is particularly important in a narrative-driven market. Internet memes and origin stories are not distractions from the fundamentals, but rather vessels of belief, and belief is the force that drives network effects.

3. Technology

Zcash is the first project to implement Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (zk-SNARKs) in a permissionless blockchain environment. Although zk-rollups have gradually gained popularity in recent years, Zcash applied zero-knowledge cryptography in a practical production environment as early as 2016.

The core of zero-knowledge cryptography is that it allows one party to prove something is true without revealing any underlying data. In traditional blockchains (such as Bitcoin and Ethereum), validating transactions requires publicly sending the sender, receiver, and transaction amount, all of which are permanently recorded on a transparent public ledger.

Zcash offers a fundamentally different model. Through zk-SNARKs, users can prove the validity of transactions without disclosing any details. This is not an additional layer of obfuscation or an optional privacy tool, but a fundamental feature enforced by cryptography and built into the protocol.

Zcash supports two types of addresses: transparent addresses (t-addresses), which function similarly to Bitcoin's model; and shielded addresses (z-addresses), which provide complete privacy protection. Funds can freely flow between these two pools. This flexibility and the integrated features of the shielded pool make Zcash structurally distinct from almost all other blockchains.

The privacy of the ZEC network is directly related to the liquidity in the Shielded Pool: just like a crowd, the more people there are, the harder it is to identify individuals within it.

Although the technology itself is very powerful, critics point out that shielded transactions have historically accounted for only a small portion of overall network activity, providing shielded users with a “smaller crowd to hide in.” Part of the reason is the lack of wallet support, obstacles in user experience, and the relatively high computational resources required to generate zk-SNARK proofs.

At certain times, the proportion of completely shielded ZEC transactions was even below 5%. However, this trend is reversing. Recent updates to the proof system and the emergence of new tools like the Zashi wallet have made the use of shielded transactions more convenient. According to data from the Zcash Foundation, over 70% of active wallets currently support shielded transactions, and the volume of daily shielded activity is also rapidly increasing.

Today, over 25% of the circulating ZEC has entered the shielded pool, and this number is rapidly rising. The distinction here is critical: privacy alone is not enough. For widespread adoption to occur, privacy must be accessible. Zcash has spent the past decade building its cryptographic foundation, and is now just beginning to develop a user interface that can drive it into the mainstream.

4. Competitors

Before delving into the token economics of Zcash, it is necessary to clarify its uniqueness in the broader field of digital asset privacy. In today's market environment, Zcash faces very few real competitors.

Although Monero is widely used, it relies on Ring Signatures technology, which, while powerful, has exposed some vulnerabilities in statistical and heuristic analyses. Even the developers of Monero have acknowledged these limitations and are exploring the integration of zero-knowledge systems to enhance privacy protection. Furthermore, Monero's model also carries a certain reputation issue, having been closely associated with dark web markets and unregulated activities for a long time.

In addition, Monero is no longer listed on major exchanges such as Coinbase, Binance, and Kraken, while Zcash can be freely traded on these platforms. The reason is that Monero's privacy is absolute, making it impossible to be regulated; whereas Zcash's privacy is optional, allowing users to choose between transparent transactions or shielded transactions.

As observed by Mert from Helius:

“Zcash is dual-mode – users can choose to shield or not shield their assets.”

If you want privacy to be truly widely adopted, then you need a system that can withstand real-world testing.

It is the balance between privacy and compliance that provides Zcash with a path for sustainable development. Its architecture achieves selective disclosure through Viewing Keys, allowing users to share transaction data with auditors, regulatory bodies, or trusted third parties when necessary. In short, it offers a form of privacy that operates within the system rather than privacy that exists outside of the system, which is a necessary prerequisite for widespread adoption.

However, it is not accurate to simply view Zcash and Monero as competitors. The real challenge is not which privacy asset will prevail, but whether privacy can continue to serve as an important pillar of the digital economy. Both ecosystems are advancing the development in this field. However, from the perspective of design and adoption, Zcash's hybrid model of privacy and compliance makes it more likely to achieve mainstream and institutional integration.

The privacy protocol Tornado Cash on Ethereum was once a promising project, but it has demonstrated the limitations of a system that is completely detached from regulatory adaptability. Due to sanctions and dismantling by authorities, its developers face prosecution, and its smart contracts are under strict scrutiny. This conveys a clear message: privacy without resilience or adaptability cannot survive.

In contrast, Zcash achieves privacy at the protocol level through zero-knowledge proofs, a method that is cryptographically stronger than ring signatures or mixer-based approaches. It combines mathematical rigor with practical flexibility, providing privacy that can coexist with transparency when needed. This technical robustness and legal viability are what make Zcash unique.

Additionally, the concept of Zcash is also easy to understand: it is the “invisible version of Bitcoin”—same supply cap, same halving model, same deflationary structure, but with shielding features. From the perspective of adoption and investment, the simplicity of this narrative is particularly important.

Zcash started as a cryptographic experiment and is now gradually maturing into a sovereign, private, and programmable financial system. It occupies a unique position in an era filled with surveillance, programmable currencies, and geopolitical instability.

5. Token Economics

In the post-ETF era, institutions have become familiar with Bitcoin's halving cycle and fixed supply, while Zcash's design appears to be an asymmetric gift.

As the model of Bitcoin - fixed supply, halving every four years, and predictable scarcity - becomes the consensus among institutional investors, an asset that is similar but introduces privacy features represents the logical evolution of this idea.

Zcash completely replicated Bitcoin's monetary architecture:

Maximum supply of 21 million

Halving approximately every four years

The initial issuance volume is relatively high.

No ICO, no pre-mining, no venture capital allocation

This is the scarcity model of Bitcoin, just in an “invisible version.”

But the key difference is that ZEC's halving cycle lags behind by two times. This lag means it is progressing along the same monetary curve, just at an earlier stage of maturity.

This cycle is different from previous ones in terms of the scale of funds entering the market. The participants accumulating Bitcoin are no longer retail speculators or crypto-native funds, but rather managers of trillions of dollars in assets, pension allocators, and sovereign entities seeking exposure to hard digital assets. The emergence of spot ETFs has institutionalized the narrative around Bitcoin, opening the floodgates for traditional capital, which now views programmable scarcity as a legitimate asset class.

Image: Greyscale Zcash Trust

Many asset allocators missed the early development phase of Bitcoin, and they are unlikely to make the same mistake again. As institutional investment gradually expands beyond Bitcoin, ZEC's Bitcoin-like supply mechanism, regulatory acceptability, and clear narrative logic make it a natural secondary allocation choice.

ZEC offers the same mathematical scarcity as Bitcoin while adding an additional dimension: invisibility. For large asset managers who recognize the power of transparency yet are aware of its risks, even a small allocation to ZEC represents a broader range of options for them in the next phase of the digital asset cycle.

Zcash was launched in 2016, and its early market dynamics were influenced by a steep issuance curve and the absence of pre-sales or venture capital allocations. Due to the supply being primarily concentrated in the hands of miners, there was significant selling pressure. The price sharply declined from an initial speculative peak, the range of holders gradually expanded, and the asset entered a long-term accumulation phase.

Now, these market dynamics have reversed.

Circulating supply: approximately 16.3 million ZEC

Maximum supply: 21 million

Market cap: approximately 4.46 billion USD, reaching an all-time high, although the unit price (272 USD) is still lower than the peaks of 2017, 2018, and 2021.

This difference is crucial. The early high inflation of ZEC kept the price chart flat for many years, but as the supply growth has now significantly slowed, the market capitalization reveals the true trend—a stable structural rise, echoing the turning points after Bitcoin's halving in history.

Figure: ZEC Market Capitalization (Logarithmic Scale)

Trading volume is surging (about $1.28 billion daily), and large players seem to be quietly positioning themselves. In the largest liquidation storm in crypto history—over $19 billion in forced liquidations—ZEC is one of the few assets that saw a price increase, which is clearly a signal of accumulation.

On-chain data confirms this potential shift:

The number of active addresses and privacy wallets is steadily increasing.

More than 70% of ZEC wallets now support the z-address (private address) feature.

The number of transactions in the privacy pool has begun to grow exponentially after years of steady growth.

The distribution of holders remains clean and natural: there has never been a pre-mining, the founder's rewards have been fully attributed, and long-term believers hold most of the supply.

From an investment perspective, this situation is a textbook example of asymmetry: fundamentals are strengthening, the supply curve is tightening, market capitalization is quietly reaching new highs, and the narrative - Bitcoin's “invisible twin” - is beginning to resonate again. This is not speculation, but repricing. The market is starting to recognize the true value of Zcash.

6. Macroeconomic Correlation

Zcash cannot be evaluated in isolation. Its significance can only be revealed when placed against the backdrop of accelerated digitalization, expanding surveillance, and deepening macroeconomic fragility.

In most developed countries, public trust in institutions is eroding. Sovereign debt has reached unsustainable levels, fiscal deficits have become a structural problem, and central banks are facing diminishing tools available due to political and leverage constraints. Inflation is no longer a temporary shock; it has become a policy.

In the current environment, Bitcoin has become one of the main hedging tools against currency depreciation, serving as a modern reserve asset that provides protection for those seeking to avoid fiat currency dilution. However, every Bitcoin transaction, wallet balance, and sovereign purchasing behavior is visible on the chain. While the transparency of Bitcoin ensures the security of its supply, it also exposes the privacy of its holders.

In short, Bitcoin can hedge against inflation but cannot hedge against surveillance.

As physical cash gradually disappears, central bank digital currencies (CBDCs) are getting closer to deployment, and the ability for private transactions is gradually shifting from a right to a privilege. Zcash restores this right—not through policy, lobbying, or permits, but through code.

The past decade has shown that financial infrastructure is no longer neutral. Payment systems have been weaponized, protesters have been deprived of banking services, foreign reserves have been frozen, and entire groups have been excluded from the global financial system due to a few keystrokes.

What was once considered a dystopian scenario has now become standard policy.

Zcash offers an alternative. It is not a platform for speculation or profit, nor is it the underlying infrastructure for NFTs or games. Its goal is much simpler: to protect the privacy and fungibility of money itself. By implementing programmable privacy transactions at the protocol layer, Zcash ensures that financial freedom does not vanish in the process of fully on-chain money.

The macro trend has become apparent: surveillance will intensify, censorship will expand, and the demand for escaping from a fully transparent financial system will grow stronger. Individuals, businesses, and even institutions operating in adversarial jurisdictions will seek tools that allow value to flow secretly. Zcash may not be the only answer, but it is one of the few reliable, technologically mature, and ideologically consistent solutions.

As Bitcoin enters the institutional arena, being absorbed by ETFs, custodians, and sovereign investment portfolios, Zcash holds its ground on another front: individual sovereignty. It is a quiet complement to Bitcoin's public role, acting as an invisible layer that protects the privacy that Bitcoin was never intended to provide.

In a world where every transaction leaves a trace, the right to financial invisibility may become the most valuable asset.

7. Risks and Resistance

Despite Zcash's strong encryption technology and clear philosophical ideals, it still faces some real-world challenges. The very features that make Zcash appealing—privacy protection, ideological purity, and technological ambition—also become obstacles in terms of adoption, usability, and regulatory acceptance.

Regulatory pressure is the most persistent risk. Although Zcash has avoided the fate of being dismantled due to sanctions like Tornado Cash, it still exists in a legal gray area. Privacy assets are often portrayed as tools for illegal finance, despite a lack of sufficient evidence to support this claim. This perception has led to the delisting of Zcash in some key markets such as South Korea and the UK. If U.S. regulators adopt a stricter stance on privacy trading or expand the scope of anti-money laundering (AML) enforcement, the accessibility of ZEC may significantly narrow.

Usability is another barrier. Although Zcash's zero-knowledge architecture is advanced, it is not always easy to use. Privacy wallets, viewing keys, and private transactions often require a higher level of technical literacy than the average user. Although tools like Zashi have significantly improved the user experience, seamless integration of privacy features into mobile applications, multi-asset wallets, and payment systems is still needed for widespread adoption. For privacy to be scaled, it must become effortless.

The ecosystem also faces coordination issues. The coexistence of Electric Coin Company (ECC) and Zcash Foundation sometimes leads to a fragmented roadmap and inconsistent communication. As the Crosslink upgrade approaches, close collaboration between these two entities will be key to maintaining trust and driving development.

Zcash's dual pool model provides both transparent and private addresses, and this flexibility comes with certain trade-offs. Since privacy is an option rather than a default setting, only a portion of network activities can enjoy full anonymity. If the adoption rate of private addresses does not increase along with rising prices (which is currently on the rise), this split could undermine the overall privacy protection of the network and weaken one of its core differentiating advantages.

In addition, Zcash is operating in an increasingly competitive field of zero-knowledge technology. Since its launch, zk-rollups (zero-knowledge rollups), modular privacy layers, and other architectures that integrate with the Ethereum ecosystem have attracted significant attention and funding that was once focused on underlying privacy chains. Although few of these alternatives offer the same level of maturity or mission purity as Zcash, they are vying for developers' attention and capital.

However, these risks are not fatal. Each one represents a challenge in execution rather than a structural flaw. The future of Zcash lies not in redefining its mission, but in precisely executing its mission, clarifying the narrative, uniting the community, and continuously optimizing the product.

The battle for privacy will not be won solely through ideology. It will be won through usability, legality, and a continuous belief in the right to trade freely.

8. Investment Logic

Image: Greyscale ZEC Investment Thesis

Zcash represents a rare investment opportunity: a structurally scarce, cryptographically verified asset that has withstood the test of the market, currently trading at a price far below its intrinsic value.

Unlike most digital assets that rely on narrative-driven value, Zcash's value comes from its design. It is based on scarcity, built on proven cryptographic technology, and is gradually being recognized for what it has always positioned itself as: the cornerstone of privacy in digital currency.

The logic of investing in ZEC is based on three core pillars: timing, belief, and design.

Timing: Zcash's halving cycle occurs two times later than Bitcoin's, and its monetary curve is similar to Bitcoin's but is in an earlier stage of maturity. Its most recent halving took place in November 2024, marking an important turning point in its issuance plan, with the annual inflation rate dropping from 12.5% to about 4.2%. This places ZEC on the same structural path as Bitcoin during its breakthrough phase in history. Bitcoin consistently struggled to maintain a price of $1,000 before its second halving, but after the halving, programmed scarcity began to dominate market dynamics. Today, Zcash is at the same node. The next halving will reduce the issuance rate to around 2%, after which the inflation rate is expected to drop below 1%, gradually converging with Bitcoin's long-term monetary model.

This transformation is taking place in an era where macro conditions are increasingly favorable for hard assets and self-custodied assets. In the context of surveillance, capital controls, and the prevalence of programmable currencies, privacy protection and scarcity are becoming a unique asset class. Few assets can combine trustworthy monetary design, established history, and structural scarcity at such an early stage of recognition.

Belief: Zcash bears no burden of venture capital, no historical baggage of an ICO, and is not driven by speculative funds pushing short-term narratives. Its issuance is transparent and limited, and its distribution is natural. Those who have held ZEC after years of neglect deeply understand the significance of the protocol. They are not profit chasers or participants in hype, but builders, cryptographers, and early adopters of free technology. This foundation makes Zcash more resilient during market downturns, while also providing greater explosive potential during narrative shifts.

Design: Zcash is not an application chain, a second layer network, or a DeFi toolkit. It is a currency—pure, privacy-protecting, and programmable. This simplicity gives it clarity and permanence, allowing it to stand out in a market filled with complexity. It conveys a language that both institutions and individuals can understand: it is the architecture of Bitcoin, but invisible.

Market Asymmetry and Portfolio Positioning

This section is based on the analysis of Frank Braun, whose research in the intersection of offshore wealth and digital privacy assets provides an excellent quantitative background for understanding the investment opportunities in Zcash.

The total estimated value of global assets is approximately $100 trillion. The market value of gold is $27 trillion, while the market value of Bitcoin is $2.3 trillion—about 8.5% of the value of gold, accounting for approximately 0.2% of global assets. In contrast, the total market value of the entire privacy coin sector is only $12.6 billion.

This gap is particularly significant when compared to the estimated $10 trillion of undeclared offshore wealth, which accounts for about 1% of global assets. The total market value of all privacy coins is even less than 0.1% of this offshore wealth pool.

Historically, real estate has been the primary vehicle for secret wealth storage, providing both opacity and the ability to generate returns. However, this channel is gradually closing. Global anti-money laundering (AML) systems, stricter reporting standards, and digital regulation are increasingly making cross-border real estate and corporate structures transparent. As capital seeks new forms of self-custody and censorship resistance, programmable privacy networks like Zcash may become a digital alternative.

From the perspective of portfolio construction, ZEC can play two unique roles. It serves as a hedge against central bank digital currencies (CBDC), capital controls, and the pervasive data capture of the modern financial system, and it is also a high-beta asymmetric investment that returns to the founding principles of cryptocurrency—self-custody and privacy as the cornerstones of sovereignty.

The potential demand is enormous. If privacy assets could capture 1% of global offshore wealth, the implied valuation of ZEC could approach $6,000 per coin. If it reaches 5%, the valuation would exceed $30,000; if it reaches 10%, it would surpass $60,000. These are not predictions, but rather a framework—these figures highlight the structural asymmetry in a world where financial invisibility is gradually disappearing.

Institutional capital inflows are still in the early stages, but attention is gradually shifting. After being overlooked for many years, Zcash has once again become a topic of discussion among influential investors and developers. Well-known figures like Naval Ravikant and Balaji Srinivasan have publicly emphasized its importance as an “invisible Bitcoin”—a scarce crypto asset designed for the surveillance financial era.

Zcash is not for everyone, but it doesn't need to be. Its goal is not to compete with Bitcoin, but to complement it; to serve as a representation of invisible assets in a portfolio, while other assets are defined as visible.

In an era where the digital world gradually moves towards full traceability, the most rebellious investment choice may no longer be leverage or yield, but privacy itself.

Summary

Zcash is not just another digital asset. It does not compete on transaction throughput, modular composability, or locked total value, nor does it attempt to position itself as a universal infrastructure layer for decentralized finance. Zcash's mission is more focused and more radical.

It is committed to defending financial sovereignty in an era of full visibility.

In a world where data becomes currency, surveillance embeds into infrastructure, and financial transparency is no longer optional, Zcash offers an alternative. It brings encrypted cash to the digital age—an asset whose value transcends codebases, issuance curves, or cryptographic designs. Its true worth lies in what it defends: individual autonomy in an increasingly transparent financial system.

For years, Zcash has been overlooked by the market. This is not because it has failed, but because it has refused to compromise. It has always adhered to an idea that the market was not yet ready to accept. And all of this is changing. The demand for private currencies is rising, technological tools are becoming increasingly mature, and threat models are continuously expanding.

The success of Zcash does not depend on mass adoption. It only needs to make sense to those who value privacy. In a world where privacy is no longer the default option, these individuals include not only activists or dissenters but also an increasing number of ordinary citizens who recognize that financial surveillance has become a reality. For them, Zcash is not just a speculative asset, but a safeguard against the potential recording and analysis of every transaction, action, and association in the future.

Perhaps one day, invisible currency will become an indispensable presence. And when that day comes, Zcash will not need to evolve to meet the times. It has already become what the world needs.

If you want to further explore this topic, the following resources provide excellent insights on Zcash, privacy technologies, and the macro environment shaping digital sovereignty:

“The case for a small allocation to ZEC” - Sacha

“Why Zcash Now” - Arjun Khemani

My Zcash investment thesis - Frank Braun

“Zcash 2.0: Misconceptions about Unstoppable Private Money” Zcash 2.0 - misconceptions about unstoppable private money - Frank Braun

“Zcash is winning” - zooko

Disclaimer: The above content does not constitute any financial advice. It is merely my personal opinion and the way I choose to respond to these changes. Everyone's situation is different, so be sure to conduct independent research, maintain critical thinking, and make decisions that are suitable for yourself.