Josh Finer

Entrepreneur and crypto hodlr. PPC OG. Truth-seeker/Skeptic 💎👐
Disney Parks rule. Go Phillies!

[Josh Finer @finer9]

@Julian_defi @ChemistDeFi @USDPrivate What could go wrong?!

[Tim Kotzman @TimKotzman]

I’m dedicating my life to Bitcoin. I’m all in.

[Cointelegraph @Cointelegraph]

🔥 UPDATE: Fidelity ETF clients bought $28.6M in $ETH this week, the strongest weekly buy in two months.

[Slow_n_Steady @seams5s]

If the zcash:native successfully deploys formal verification, proves supply integrity, and captures the narrative that transparency is a vulnerability in an AI-dominated world, there is nothing left to stop it.

ZEC becomes the definitive sanctuary asset for sovereign capital.

[Cypherpunk ($CYPH) @cypherpunk]

.@Snowden: "Zcash really does the best in this space with their shielded transactions. Monero has privacy by default, but it's a lower measure — you're just playing a shell game. Shell games don't last forever."

Math, not decoys.

[James Lavish @jameslavish]

Good morning.

Some friendly advice for the perma Bit-doomers: Stop declaring Bitcoin "dead". It is not dead. It is not dying. It is an asset experiencing normal bouts of high volatility during its adoption and maturation phase.

Have a great day.

[Tom Howard @_TomHoward]

Wait this is so cool: Zcash is about to audit a private shielded pool without breaking privacy.

Orchard had a bug that could theoretically allow counterfeit notes. There’s no evidence it was exploited, but “no evidence” is not the same as “mathematically proven.”

The plan: create a fresh pool called Ironwood.

Wallets start using Ironwood by default. Old Orchard stops accepting new outside funds AND internal transcations.

Now any value in old Orchard has to pass through the public turnstile before it can be useful again.

The turnstile doesn’t reveal private tx history. It just enforces the aggregate accounting: no more ZEC can leave a pool than legitimately entered it.

So the migration becomes an audit.

If fake claims exist, they either create a supply mismatch on the way out, or they stay trapped in a pool that wallets no longer treat as economically live.

That’s a very elegant crypto-native incident response: preserve privacy, preserve UX, and force the system to prove the old pool’s supply over time.

[Tom Howard @_TomHoward]

Ironwood.

[Zcash Open Development Lab @zodl_co]

https://t.co/tGpnptampN

[Fred Krueger @dotkrueger]

Bitcoin is exactly as good a long term investment as it was one week ago.
It's even better of a medium term investment.

[Jack Mallers @jackmallers]

Everybody wants to buy the dip until it's time to buy the dip.

You don't end up on the receiving end of the greatest wealth transfer in human history by believing what everyone already believes.

You get there through proof of work and conviction when everyone else doubts.

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: $199 billion VanEck's Matthew Siegel on Bitcoin: "We think this will become a mainstream asset that will compete with other reserve settlement currencies" 🚀

[Mihai @presentlyMihai]

No, Zcash was not exploited.

The people who patched it were all top 0.001% of their field.

The methodology to find it is known and accessible to 0.01% of people.

The circumstances to find it were to hire a person whom already discovered an inflation bug 10 years earlier.

The circulating supply is following the predictable supply curve.

The Orchard pool is growing at a predictable rate consistent with the chain’s usage.

And even if it did get exploited (it didn’t), this is, worst case, similar to The DAO exploit in Ethereum, where 20% of the supply sat in the compromised smart contract, as opposed to the infinite mint bug on Bitcoin (21 million –> 184 billion).

Coming to your favorite coin next, but not Zcash.

[Michael ⚡️ 🇺🇸 @HawkCryptoTech]

So much fud, these dudes are miserable and love bad news. The Zcash thing was a panic sell, nothing more. They patched the hole, sort of speak with the exploit.

Hold the line against these morons. Zcash is on a path to recovery. zcash:native

[zooko🛡🦓🦓🦓 ⓩ @zooko]

@gosasu1 No, we’re going to implement a way for you to trustlessly verify that the supply limit is intact.

[Haseeb ＞|＜ @hosseeb]

There's a lot of confusion about the recently patched Zcash bug. Here's how to actually understand it.

If the bug had been exploited before the patch (very unlikely it was), it would have looked like the shielded pool getting drained. Whoever minted the counterfeit shielded ZEC would want to sell fast, before anyone else found the same bug. And remember, the market for ZEC is almost entirely transparent ZEC, not shielded. You can't dump freshly minted shielded ZEC on Binance or Coinbase without unshielding it first.

The losers in that scenario are shielded holders who sit still. The transparent portion of Zcash is fully visible, so it's trivial to enforce that transparent ZEC never exceeds max supply. If you try to unshield more than the cap, you'll get stopped at the door.

So if you hold transparent ZEC (anyone trading, on an exchange, or doing price discovery on ZEC) there's no marginal effect on you. The loss falls entirely on shielded holders.

The team's next step is a new turnstile and a fresh shielded pool in the coming upgrade, which will confirm the shielded pool was not inflated. Think of it as taking headcount at the end of the field trip--that will make sure no extra kids snuck onto the bus.

But while AI found this bug, AI will also deliver the fix for the whole category: formal verification. I'm very bullish on this as the path to harden all software across the industry. Formally verified cryptography can't have implementation bugs by construction.

Right now AI is surfacing vulnerabilities across all our software--browsers, OSes, and blockchains are no exception. We're in the awkward adolescence where every wart is getting magnified and put on full display. But formally verified software is the only path forward for mission-critical software, and Zcash has put it front and center on their roadmap to deliver.

Privacy is too important not to.

(Dragonfly holds $ZEC and continues to. I'm personally an investor in ZODL.)

[Cameron Winklevoss @cameron]

In the age of AI, formal verification is the way forward for securing software and Zcash is leading the way. Zcash will introduce formal verification in the next network upgrade, making "print money" bugs in shielded pools impossible. Encrypted money with provable correctness is unstoppable.

[Cypherpunk ($CYPH) @cypherpunk]

Amid all this FUD, the shielded pool remains exceptionally stable.

[Cypherpunk ($CYPH) @cypherpunk]

Bugs exist in all software.

Bitcoin once minted 184 billion coins by mistake.

The answer isn't to write off the technology.

It's to strengthen it with formal verification + provable soundness.

This is what Zcash is shipping in its next update.

[Josh Finer @finer9]

@2ctv Agreed!

[Josh Finer @finer9]

#btfd #bitcoin