Criticisms of Zcash

Showing only those parts of the discussion which lead to #2379.

See full discussion·See most recent related ideas

Log in or sign up to participate in this discussion.

With an account, you can revise, criticize, and comment on ideas.

Discussions can branch out indefinitely. Zoom out for the bird’s-eye view.

Zcash will become the next money. That's because it contains bitcoin's solutions to fiat, and also solves bitcoin's lack of privacy.

Benjamin Davies revised about 24 hours ago·#2369

Only version leading to #2379 (2 total)

Bitcoin (and by extension Zcash) does not solve fiat. A key problem of fiat is that it isn’t backed by anything. Bitcoin isn’t backed my anything, and as far as I know, neither is Zcash.

Criticism of #2362Criticized1

Zelalem Mekonnen revised about 22 hours ago·#2373

Only version leading to #2379 (2 total)

Bitcoin is backed by POW or computational work or encryption.

Criticism of #2369

Benjamin Davies, about 20 hours ago·#2377

Only version leading to #2379 (2 total)

“Bitcoin is not backed by anything” can also be stated as “Bitcoin is not redeemable in anything”.

“POW” or “computational work” or “encryption” and not things you can redeem if you own bitcoin.

This is in contrast to gold-backed currencies, for example, which are currencies which can be redeemed in gold. The United States Federal Reserve Note only became fiat when it was no longer redeemable in gold.

Criticism of #2373Criticized1

Benjamin Davies, about 20 hours ago·#2379

Superseded by #2378. This comment was generated automatically.

Criticism of #2377