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The Privacy Coin I Chose...


For the past few weeks I have been obsessing over cryptocurrency as a cash based system, and something that will decentralize the system of fiat like Satoshi Nakamoto initially envisioned. The more I researched the space, and saw the trends, the more I became disheartened at the direction that the space was headed -- for example, Coinbase and Gemini rapidly devolving into a compliant company. Also with governments rabidly interfering in the overall direction of cryptocurrency with regulatory crackdowns, executive order fears from Trump, invasive tax audits with data being expelled from Coinbase, and a lot others. 

I saw the space becoming maligned and manipulated into something that is now a store of value; alternative investment-based cryptocurrency or token, as designated by the IRS and financial bodies, and with the masses herding into the direction because there is no where else to go. A private cash-based system is truly the only way to go in order to become truly free while not going against the bounds of the government. 

2017 was the year of the massive influx of shitcoins coming into market. With the rapid climb of Bitcoin at the beginning of 2017, and with the indexed climb of its proxies Litecoin and Ethereum, shitcoin devs pushed their product to market to eventually exit scam later. They used ICOs to take advantage of plebs and used "buy the rumour, sell the news" to pump and dump on their contingents. Some of these coins were legit, but it was soon becoming a lawless playing ground where John Nash Equilibrium was in high effect. This is why the government became involved. 

Some of these shitcoins were half in and half out. Shitcoins such as Bitconnect operated seemingly legitimately, but operated a fly by night scam that ended operations overnight. Other shitcoins that implemented this half-out style are still alive to this day but have had histories of large hacks that remain suspicious (cough-VERGE). They operated under a veil of legitimacy but secretly had back end exploits that were purposefully planted to potentially capitalize on them far in the future. However, a lot of coins were definitely legitimate, and they are still grinding it out, to this day, to create a space that employs Satoshi's vision. 

This is why there were 2 hard forks of ZCASH (a highly centralized chimaeric piece of shit coin): ZEN and ZClassic. They hardforked because the devs that were a part of ZCASH no longer believed in the vision of the founder, Zooko, and wanted to decentralize it by hard forking it. I was on a mission to find such decentralized coins with ethical teams to not only hold long term with such coins, but also spend them as cash. I only wanted to find 1 coin to hold and spend, and I wanted to research all of the coins in the space to make my decision. 

My criteria was simple: 
  1. Which coin had the most secure technology with multi-use case?
  2. Were the teams trustworthy and were they in the space for extremely long term?
  3. Are the coins decentralized and located in privacy havens?
  4. My gut instinct and using 80/20 law to streamline my decision
I didn't do a deep dive into researching because I was not afraid of failure. Sure I expect there to be potential scandals in the future (as a result of unforeseen biases, events, or exit scams), but nobody is correct 100% of the time and like Wayne Gretzky says "You miss 100% of the shots you don't take." I needed and wanted a privacy cash to hold and spend, and I was also looking at the upside relative to the downside.

Why I chose ZCOIN As A Privacy Cash-based Coin

I chose Zcoin because they had really secure protocols, were decentralized, were in the space for over 2 years after longterm bear markets, was at a decent price, had yields with Znodes, and was easy to use as opposed to Monero. They also were involved with atomic swap wallets, making this a perfect way to decentralize internet activity and erase digital footprints.

Further, according to their faqs, their zero-proofs cryptography techniques are more secure than ring signature ones employed by coins like Monero. They also mention that their coin is more proof to topographical analysis because they employ zero-proofs technology. In a space where chain analysis is taking place by Swiss based companies that work with US agencies, this technology is needed to prevent any data leaks. It is encroaching boundaries and is a slippery slope for the government to aggregate power by auditing their citizen's transactional histories. They do this by finding ways to partner with global agencies and having them bypass their own governmental systems and ethics (think Ecuador vs Assange and Swiss vs Tax havens).

I briefly analyzed their team, found they were based all over the globe and have been together for over 2 years. I also remember reading about them when they initially started around late 2016 to 2017 as well. Because I can trust that they will be in this space for the long haul, and because they are not at the mercy of US-nexus, I decided to trust them with a growing bag for spending and hodling. There is less likelihood of them exit scamming because they have been in the space for so long, and so I decided that 80% of the proof was there to invest. 

Lastly, they also have a very good masternode system that is more decentralized than most other privacy coins, especially Zcash, and is scalable. They currently offer 30% yield, which will lower as time goes on. There are also some pools out there that enable pool staking in a masternode.  

You can learn more about the technical features of this coin by going to their website and reading their roadmaps and whitepages here. This blog post only talks about the fundamental reasons why I decided to hold ZCoin.  

This was not a sponsored post 

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