Zpartan🛡

crypto enthusiasts, macro hobbyist, forward party/libertarian, midcurve takes extraordinaire

[Zpartan🛡 @Zpartan]

It's not enough that zcash succeed. All current and future ZEC holders must win forever.

[Zpartan🛡 @Zpartan]

@EricOnchain I think there are certainly ways to use transparent chains safely in combination with privacy tools!

[Zpartan🛡 @Zpartan]

All transparent chains are 100% under the control of the state.

Not implying this is necessarily bad fyi. Just that this is no different than a stock but without the potential for profit. Without that special feature to truly separate money from the state, what’s the point?

Zcash is the only coin in crypto that delivers on this original mission. Without it I’m fine to just have cash in the bank or stocks. There is nothing special here without that key powerful ingredient.

[Bankless @Bankless]

NEWS: ILLINOIS PASSES "PRIVILEGE TAX" ON CRYPTO TRANSACTIONS

IL Gov. Pritzker signed SB 3019, creating a 0.2% tax on digital asset business activity starting next year. Taxable activity may include customers sending assets to an exchange or exchanges moving assets.

What remains unclear is whether the law reaches self-custody: transfers between wallets controlled by the same person, transactions through software wallets like MetaMask or Rabby, or DeFi interactions routed through smart contracts.

[Zpartan🛡 @Zpartan]

USMNT looking elite

[Zpartan🛡 @Zpartan]

@post_polar_ Nice. Haven’t been able to enjoy any games for a while, but so far really liking this one. Still a slight burden to my team on higher difficulties but I’ll get there 🤣

[Zpartan🛡 @Zpartan]

Crypto is filled with a million coins that are transparent. There are about 5 that are private.

It might make sense to get some just in case it catches on.

[Zpartan🛡 @Zpartan]

@zooko @nate_zec @zmanian @brane_trix Honestly I’m not sure if I understand well enough what the benefits are, but I can’t see any drawbacks. So I’d support it on that alone 🤷‍♂️

[Zpartan🛡 @Zpartan]

I suppose if I was an attacker and I knew a periodic turnstile was approaching I’d just move all of that counterfeit zec out of the pool before anyways. I’m not sure regular users could ever beat the attacker out because the attacker has the edge in the fact they know there is counterfeiting in the pool.

I suppose if there was negative price action for years it may reassure users that everything is ok, and an attacker isn’t slowly dumping on them? I’m not sure why an attacker wouldn’t be incentivized to move as much value as possible. Although I’m sure there are some that are completely fine to spend a lot of money and not get greedy due to pressure from law enforcement vs just enjoying your gains.

It seems like periodic turnstiles might limit that type of attacker. I don’t really see a downside of periodic turnstiles other than perhaps privacy leakage if people are transferring their balance in one go every period. Although that seems quite negligible.

In short, I’m not against it because I don’t see any harm, but I’m not sure I see much benefit either I guess. If people feel better with it I’m all for it.

[Zpartan🛡 @Zpartan]

The universe rewards tenacity.

Never give up.

Also, pickle rick holds up. Had to rewatch it after this tweet

[Josh Swihart 🛡 @jswihart]

https://t.co/9gaPMvTc9G

[Zpartan🛡 @Zpartan]

@cozymaximalist This is the before and after of an 18yo that’s been in the memecoin trenches since ‘22

[Zpartan🛡 @Zpartan]

@zooko @zmanian @brane_trix @nate_zec Good to know I’m not alone haha. If Daira-Emma is thinking the same thing then I feel smart lol 😃

[Zpartan🛡 @Zpartan]

What’s the benefit of doing this every year? If there was no change to the code and you thought there was an exploit in this years pool, the expoiter would just run the same attack in the new pool. I’d think you’d have to catch an issue or make improvements to justify this? Or what am I missing?

[Zpartan🛡 @Zpartan]

@fisheyeg1212 Yup. It is different enough than real estate and stocks to justify its existence, but not differentiated enough to be exciting to me. Zcash (or something like it) is literally the only way digital private money can work

[Zpartan🛡 @Zpartan]

I’ve been thinking about this a lot. It’s the kind of tweet that makes me reexamine my thinking. Specifically the line that users value coin safety over privacy. I think because In some ways Udi is right. Privacy coins are pointless if you aren’t assured that things are safe long term.

I think for me I’m so interested in privacy because it’s so rare. If I send someone zcash they are the only person in the world that has to know I sent them (or if their address is shared publicly even they don’t know). I think that is special and rare and worth a lot to me. On the other hand scarcity is not rare. The world is filled with scarce things. I can hold value through a lot of different mediums and crypto isn’t required for it.

I don’t see any other way privacy works, and for me, even in spite of the risk, I’m optimistic that we can figure it out. I’m just an optimist that we can solve problems worth solving in general. I don’t want to be too afraid to support things that are worth building. Or if I am afraid, I’d like to be brave enough to overcome that fear because the mission is worth it.

[Udi Wertheimer @udiWertheimer]

quantum is a risk but zcash didn’t solve it. there’s way more work to be done to make zcash quantum-safe than there is to make bitcoin quantum-safe. the narrative that zcash is a quantum hedge is quite literally a meme

lack of auditability is a MAJOR risk that is unique to zcash, on top of quantum and all other risks that are shared between all coins. good job burying the lede in point 2

surveillance is a risk, lack of privacy is a risk, but most long-term holders of any coin would agree they value coin safety over privacy. zcash chose poor tradeoffs for store of value, but strong tradeoffs for transactional privacy. the notion that zcash was good for store-of-value was flawed, it is designed to favor transactional privacy over store of value. the market is now pricing in that understanding

[Zpartan🛡 @Zpartan]

@TheDesertLynx @roommatemusing @zooko Agree. Everyone is wrong on something. Don’t need to drag those few in public. Can understand why they may have been worried about wording.

[Zpartan🛡 @Zpartan]

@ArtofConviction The PA on Luna was to literally 0 overnight so not sure it makes sense from that perspective either.

Appreciate your support of the project though

[Zpartan🛡 @Zpartan]

@Sol_omo_n Yup. There is no plan to improve the problems with bitcoin transparency.

There is a plan to improve the problems of zcash security.

[Zpartan🛡 @Zpartan]

Yes you have been spot on with your takes IMO. I think you are right about needing to keep funds shielded at rest in order to gain privacy.

If we strip out the objective of privacy and are even concerned with the basics of having any transferable value it seems you must have people willing to hold it as well. It doesn’t really work as a medium of exchange if no one wants to actually hold any lol.

Also agree the ratio of zec/btc has to depend on what’s best for the individuals risk profile. I think it has been maddening for us both as of late that a lot of people were unaware of the risk and therefore not making great decisions for themselves 😁

[Zpartan🛡 @Zpartan]

@zooko Thanks zooko. I was actually losing faith from people downplaying it. That style of communication can have consequences too. People don’t like being lied to. You displayed integrity and bravery when most wouldn’t. That makes me MORE likely to trust during tough times.