first, money was gold
then, the state replaced it with paper
after, satoshi created digital gold, bitcoin
this was a big improvement, but it was missing a core trait of real gold
fungibility
a core property of gold is that it's fungible; you can interchange it with other gold
but once you add serial numbers and tracking, you can diminish the value and cancel it based on its history
in other words, without privacy, you can not get fungibility, and hence you can't fully replicate gold money at internet-scale
this wasn't Satoshi's fault, he wanted to add this
the reason it wasn't added is that we did not have the technology to make this a reality back then (ZK)
we have the technology now
unencrypted money is a bug
Zcash is what Bitcoin would be if no one could see it.
Same supply cap, same halving model, same scarcity curve. But invisible.
@Bitcoin became the hedge against inflation.
@Zcash is becoming the hedge against visibility.
Full research below 👇