Im looking at the Poloniex ZEC/BTC trade and 1 ZEC is worth 1.19 BTC... why? and the all time high was 3300+ BTC per ZEC? I mean that's nonsense. Who would buy this thing?
I have concluded that ZCoin is trash since you have to trust the devs into deleting the masterkey, I have no idea what ZCash is all about to be honest.
This is simply a matter of low supply. The Zcash mining cleverly designed to have 21 million bitcoins just like bitcoin, with a halving every 4 year, but one BIG difference, the first 34 days, the block reward starts at 0 end ends up at 12.5 ZEC per block (50 ZEC per 4 blocks of 2.5 minutes is comparable to 50 BTC per block per 10 minutes)I have concluded that ZCoin is trash since you have to trust the devs into deleting the masterkey, I have no idea what ZCash is all about to be honest.
so on the first day, only 104 (or 83, if you don't count the 20% going to the devs) was mined, and in the first few hours, even less, so some people pumped it up to 3300 btc, and keep it above 1000 for a few hours, since there was no one to sell it any significant quantity. Now it's like day 3 (or 4, I'm not counting) and the supply is still relatively low, and so a price above 1 BTC is only expected, it will slowly fade, and if you find a platform to short, shorting would be very wise, because for the next 30 days, the mining supply will increase rapidly.
People are total suckers if they buy this crap, I'm sorry. All the threads that got started for this piece of dung are probably all one buffet of alts created just to pump all the suckers out of their money. Don't buy this shits.
Blame the hype on coindesk
"Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Zcash." http://www.coindesk.com/what-is-the-value-zcash-market-searches-answers/
Nice of Coindesk to tell us this. Still does not make it right in my eyes.
I'd say that Barry E. Silbert is simply expanding his horizons: https://en.wikipedia.org/wiki/NASDAQ_Private_Market
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The Bitcoin Investment Trust (BIT) is a private, open-ended trust that derives its value solely from the price of bitcoin. SecondMarket acts as the custodian and the trust is audited by Ernst & Young. The trust is managed through a subsidiary of SecondMarket.
SecondMarket announced in February 2014 that it planned to open a regulated, US-based bitcoin exchange. It was planning to spin off a separate company for all its Bitcoin activities.
SecondMarket announced in February 2014 that it planned to open a regulated, US-based bitcoin exchange. It was planning to spin off a separate company for all its Bitcoin activities.
He and/or his partners continually need to broaden their reach in this space so to keep their investor clients interested so that they'll be more inclined to reach deeper into their fiat wallets, directing such toward the crypto space. Zcash to the da moon till the next nefarious el shitto coin is el pumpo.
Let's see what Number One at CoinDesk has to say, eh?: https://twitter.com/twobitidiot/status/766541669470654464
https://twitter.com/twobitidiot/status/779795049022357508
http://grayscale.co/faq/
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What is an accredited investor?×
An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).
An accredited investor, in the context of a natural person, includes anyone who either earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR, has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).
Translated: Retards with deep pockets able and willing to invest in whatever we tell them, with the flavor this month being Zcash.
Why Zooko no longer come 'round these here parts? https://bitcointalksearch.org/user/zooko-904
