Criticisms of Zcash

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

Criticized1

Benjamin Davies revised 1 day ago·#2369

Only version leading to #2415 (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 #2362

Zelalem Mekonnen revised 1 day ago·#2373

Only version leading to #2415 (2 total)

Bitcoin is backed by POW or computational work or encryption.

Criticism of #2369Criticized1

Benjamin Davies revised 1 day ago·#2378

Only version leading to #2415 (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” are 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 #2373

Erik OrrjeOP, about 19 hours ago·#2408

Only version leading to #2415 (2 total)

In a gold standard society, gold doesn't need to be backed by anything. The same would be true for Bitcoin and Zcash.

Criticism of #2378Criticized1

Erik OrrjeOP, about 9 hours ago·#2415

Superseded by #2414. This comment was generated automatically.

Criticism of #2408