Swizzle

Degenerate philosopher; Co-Host @Riskonpod

[Swizzle @SolSwizzle]

‘Risk On Network’ has a nice ring to it

[mert @mert]

since this comes up every few months, a refresher:

- first, there *is* a way to prove the bug wasn't exploited, more on this below

- the fundamental tradeoff in a strict privacy pool is that if there's a bug, it could be utilized without immediate detection. this is the same for almost all privacy protocols without audit keys and with circuits

- it's similar to any other crypto bug, like defi, in that something could be exploited and moved to a different chain. there are bugs lurking all over defi, blockchains, and all software at all times. the difference is that given the privacy, it's obviously harder to detect timely

- note that this has always been the case with any of these things (and zcash isn't unique here, the other notable privacy project you're thinking of also has the risk of counterfeit bugs), so nothing is "new" except for the fact that understandably not everyone knows the technical tradeoffs

- in zcash, you have guardrails to detect this so the supply would never increase past 21M *but* the ppl in that pool would get shafted unless there's social consensus, which would admittedly be messy

- recently, the zcash core teams have been increasingly using advanced tools and hiring external security firms to audit themselves to keep improving security

- this is also why it's harder than it sounds to just add privacy to an L1 or L2 (without audit keys) because you want a high concentration of security researchers and cryptographers looking at this at all times. it's also why "dino" projects are interesting because they've survived this long.

- now with this new effort, one of these was a hit and the team immediately patched the bug they found

- you can be reasonably sure that it wasn't exploited given a number of signals, but you can't definitively prove it unless either:

i) the turnstile is triggered

ii) the wallets start pointing to a new pool to migrate (there have been 3 such migrations in the past for example) which would then prove this

luckily, there has been work on creating a new pool that's provably sound, formally verified, and quantum proof this whole time with @TachyonZcash (which is also how I first got introduced to zcash)

so once that migration is done, you will have full certainty

[Austin Barack @AustinBarack]

It's wild how much demand there is for $ZEC on Coinbase that market makers can't arb the price down to where it is trading on other exchanges. $20 higher on CB and the ratio is growing

[Swizzle @SolSwizzle]

Coinbase premium is back tonight

[Swizzle @SolSwizzle]

Massive Coinbase premium just flashed on zcash:native there for a minute. Wicked above $620 while in the $570's on other non-US exchanges

Regardless whether that's institutional or simply large retail buying, Coinbase premium of this magnitude historically precedes much bigger moves.

This is the same pattern that showed up with BTC in 2020-21, where recurring Coinbase premium preceded major rallies.

Also, take a look at current funding rates:

Bybit: -43.3% (8h interval)
Bitget: -34.9% (4h interval)
HTX: -13.8%
Binance: -8.3%
MEXC: -8.2%
Gate: -8.6%
LBank: -8.3%
Aster: -3.4% (1h interval)

So yeah... I think the squeeze is on

[Swizzle @SolSwizzle]

Entire market nuking but your coin is up

[Swizzle @SolSwizzle]

The coordination, responsiveness, and execution displayed here is why Zcash is better equipped for the future than Bitcoin.

[Josh Swihart 🛡 @jswihart]

Given the time available and the number of parties involved (the devs at @zodl_app and @ZcashFoundation, miners, exchanges, others), this was the most ambitious network upgrade in Zcash's history.

I'm especially grateful to my team, including @feministPLT, @nuttycom, @str4d, @thecodebuffet, @NealJayu, and @peacemongerZ. Little sleep for days. Focused on execution. Collaborating. No compromises. All in. Built to win.

[Patrick Scott @patfscott]

crypto becoming institutionalized and boring right as the rest of the market turns to hyper speculation is peak comedy

[Swizzle @SolSwizzle]

We are live!

[Risk On @RiskOnPod]

Remembering What It’s Like To Believe | EP 67 https://t.co/TxF3Sbmi4g

[Swizzle @SolSwizzle]

@R89Capital @Bluntz_Capital https://t.co/wQdZNkkIQo

[Swizzle @SolSwizzle]

Massive Coinbase premium just flashed on zcash:native there for a minute. Wicked above $620 while in the $570's on other non-US exchanges

Regardless whether that's institutional or simply large retail buying, Coinbase premium of this magnitude historically precedes much bigger moves.

This is the same pattern that showed up with BTC in 2020-21, where recurring Coinbase premium preceded major rallies.

Also, take a look at current funding rates:

Bybit: -43.3% (8h interval)
Bitget: -34.9% (4h interval)
HTX: -13.8%
Binance: -8.3%
MEXC: -8.2%
Gate: -8.6%
LBank: -8.3%
Aster: -3.4% (1h interval)

So yeah... I think the squeeze is on

[Swizzle @SolSwizzle]

Massive Coinbase premium just flashed on zcash:native there for a minute. Wicked above $620 while in the $570's on other non-US exchanges

Regardless whether that's institutional or simply large retail buying, Coinbase premium of this magnitude historically precedes much bigger moves.

This is the same pattern that showed up with BTC in 2020-21, where recurring Coinbase premium preceded major rallies.

Also, take a look at current funding rates:

Bybit: -43.3% (8h interval)
Bitget: -34.9% (4h interval)
HTX: -13.8%
Binance: -8.3%
MEXC: -8.2%
Gate: -8.6%
LBank: -8.3%
Aster: -3.4% (1h interval)

So yeah... I think the squeeze is on

[Swizzle @SolSwizzle]

Observing..

[Swizzle @SolSwizzle]

Literally nobody

[Zack Brenner @zjbrenner]

Who wants early access to perps on @opensea ? 👀

[Rain @rainnen23]

Confirmed the breakout on the monthly

Makes invalidation easy now. Monthly close back below $500, prob want to gtfo

[Rain @rainnen23]

In my 10 years on this god forsaken app, I don’t have a single friend who got rich from shorting

Even if you are right, you are probably better off sitting on the sidelines looking for longs

[Swizzle @SolSwizzle]

The right time also means being early to the sentiment shift. Which can mean positioning bullish when everyone around you thinks it’s batshit insane to do so

[Rex @R89Capital]

You make it in crypto by having zero risk management at the right time

This is also why it has a 99.9% failure rate

[Swizzle @SolSwizzle]

6 years ago today this set ended racism and now it’s happening all over again. Except this time we’re revolutionizing financial markets and instead of David Guetta it’s Jeff

Hyperliquid.

[Swizzle @SolSwizzle]

Trump could do the funniest, most egregious thing to all the BTC doomers

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 President says it's "time to audit" Fort Knox's $667 billion gold reserves.

[Swizzle @SolSwizzle]

@notanicecat69 @gainzy222 Fomo at top, bear post at bottom szn?

[Wood @notanicecat69]

please let me have $400 zec just one more time

[Data @daftdelta]

"You have got all these startups raising crazy valuations... And I think now we are seeing the fear from VCs of realizing, oh man, we might have gotten a little eager here... They are not all going to be great businesses just because the technology is incredible."

@SolSwizzle explains why a revolutionary piece of technology does not automatically equal a sustainable business model and why VCs are realizing they overpaid for pure froth.

[Rexha 🐸 @RexhaRexhaRexha]

Swizzle explains his conviction behind near:native & why he is taking a big bet on it.

"Of course there is significant downside risk here."

"I am willing to take a big bet on near:native right now and I am."

"I am comfortable holding a big position, if I didn't hold any now I would be adding on dips."

"They are making revenue now."

"It is probably the best answer you can give to anyone in terms of agentic payment solutions across chains."

"It fits into AI, it fits into privacy, they are implementing token buybacks."

"It is still 86% off it's ATH."

"The technicals are great but its not technicals trade for, it's the mindshare, the buybacks, the revenue, all the things people are looking for."

"I recognize there is a lot of downside risk but I am willing to stomach that risk."