botblastcap

printing off numbers on a screen

[botblastcap @botblastcap]

you're better off thinking for yourself, and be wrong, than not thinking at all

[Hunter Biden @HunterBiden]

@gmoneyNFT Hyperliquid

[botblastcap @botblastcap]

@nikshepsvn what's the % split?

[MONK @defi_monk]

Hoping for the best with Zcash. It’s a great protocol with a worthy mission.

Token price is what it is, the planet still needs liquid privacy.

[botblastcap @botblastcap]

@unitxyz zec deposits have been pending for almost 2 hours even though it claims ~26min

could the team please look into this?

[botblastcap @botblastcap]

@unitxyz any updates on this?

[botblastcap @botblastcap]

@jords hey hey jords no grave dancing. btc also went through similar encounters and emerged more robust

what doesn't kill you makes you stronger

p.s. this is also a potential generational entry, every crisis is an opportunity

[fiskantes ⭐️🩸 @Fiskantes]

The potential ZEC exploit was quite serious but similar vulnerability was hotfixed on BTC too few years back

[botblastcap @botblastcap]

imagine the amount of short liquidations if we send back to $500 once most dismiss it as a nothing burger

[Ansem @blknoiz06]

good explainer of zcash exploit

[Muroⓩ @MuroGEO]

Charles :
Zcash didn't just patch a bug. They demonstrated the new defensive playbook: AI-driven audits, decentralized coordination, radical transparency, verifiable invariants. That is the direction the rest of the industry needs to follow
👽🛸

[Doug Colkitt @0xdoug]

The way to understand the ZCash bug is it’s not infinite mint of ZEC itself. It’s more like the shielded pool (Orchard) could become insolvent. Think of it more like the KelpDAO hack for ETH.

Very little reason not to proactively unshield any ZEC today. Being early to the exit is always better in a bank run. Consider Orchard burned, and don’t re-shield until there’s a new pool with a clean history

[botblastcap @botblastcap]

so here are 2 scenarios regarding the recent ZEC bug patch:

1. there were undetected exploits over the past few years -> there's now a bug patch -> no more exploits possible

2. there were no exploits in the past -> there's now a bug patch -> no more exploits possible

so essentially even if an attacker wants to mint more and sell now, it's no longer possible? meaning we've bottomed here?

[Kapitan Smug @unemployedZZ]

Never was a $ZEC bull but the odds that someone had the ability to infinite mint and still let it run from $15 to $700+ without suppressing the price with infinite sell pressure on the way up are zero to none.

Meaning that once the reputational loss is priced in, the actual supply is extremely unlikely to be an issue. It is most likely a long into the predictable upcoming news that the supply is fine.

[botblastcap @botblastcap]

wow zcash is absolute trash

sell all your coins (to me)

[botblastcap @botblastcap]

@0xbidibidibum @alex_hunter20 ice bergs?

[Justin Bons @Justin_Bons]

Zcash FIXED an inflation bug & you are all panicking...

Stop overreacting! What matters is that the good guys caught it first: ZEC's team is competent!

It was always known this could happen; it even happened before

Privacy is too worthy a cause to get dragged down by ignorance

[botblastcap @botblastcap]

@dirtydeeds300 thats good

[botblastcap @botblastcap]

gib vvv under $15 plsssss

i want infinite private uncensored intelligence

[that1618guy @that1618guy]

you're telling me that someone could have minted infinite $ZEC for 4 years, but chose to not sell when ZEC ran up 20x?

idk, seems unlikely that someone with infinite printing would not have nuked this chart earlier if they had the chance

i think this dip is warranted granted the security findings, but might be overblown atm

[Jacob Gadikian @Senpai_Gideon]

ZEC's orchard patch

I published a tweet earlier today about the zec Orchard patch and I got so many quotes and replies from poorly informed people that I decided to make another tweet explaining why the points raised by those criticizing the patch process aren't valid.

1) some people said that if the network could be patched then it's not decentralized. That's simply not true, and more importantly, decentralization should not mean simply waiting back for an exploit to happen when there are no issues, or publishing code to the public that would indicate how to perform an attack. By coordinating with the community, an attack was made impossible.

2) zec mining centralization is very real. It looks like there's only three or four big players. The thing is it doesn't actually matter. If one of those pools went down the miners would redirect hash rate to other pools and the network would simply continue making blocks. For miner collusion to occur, multiple miners would need to run compromised code. That is in no one's best interests.

3) all parties acted voluntarily out of economic and social self-interest.

4) of course developers should be in touch with miners. It's not like there's even just one singular Zcash implementation. Miners could have compared notes with maintainers of other implementations and could review the patch code.

5) if a pool actively did not patch a legitimate security issue, miners should redirect their hash rate away from that pool, and they would do so, out of economic and social self interest.

6) diversity in the manufacture of mining rigs is absolutely not a problem. Mining rigs are complex computers and made with custom silicon. The fact that there are three vendors competing is great.

7)
Tired: ZEC had a critical bug. ZEC sucks.

Wired: ZEC found and eliminated a critical bug on a live network and prevented any exploit in a fully decentralized manner.

8) the Zcash miners received source code, not a binary. They got to review the issue, and acted to protect the network.

Addendum for those who think this is about my bags or something:

I don't even own any ZEC. I do think ZEC is a cool project, and I think it's even cooler after seeing this patch occur. Bugs are everywhere, probably in bitcoin too. Hardening networks and eliminating bugs is essential work. One thing that I saw repetitively was a statement that if it's decentralized, you should not be able to fix this problem, and I feel that's ridiculous. Even if there were 100 mining pools, disabling Orchard transactions would be the right thing to do, and coordinating between the 100 mining pools would totally be possible. Mining ZEC and operating a mining pool is permissionless. Anyone can do it and compete with the existing miners and polls.

tldr: yes, it's better to have a pragmatic, solutions oriented approach than place user funds at risk. The ZEC community took the correct, decentralized, and ethical path here.

Hats off to the Devs and mining pool operators!

[botblastcap @botblastcap]

@aaalexhl haha facts but also realizing mfers market selling harder into twaps

[Dan @robustus]

Just to be clear... If your zcash thesis changed materially due to the Orchard bug fix, you are at best irresponsible and lazy in your analysis.

You should've had shielded pool inflation bugs in your thesis from the beginning: https://t.co/LDxszOywut