Meanwhile in Cryptocurrency…

Bitcoin has breached $690. Needham is out with a research paper with lots of pretty charts setting a target of $848. Here’s a one month chart of Bitcoin vs Gold.

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But the real news of the day is the launch of a new Cryptocurrency called Zcash. Zcash has nailed the hype machine. They are releasing the first 100 coins today. Zcash insiders are positioned to cash in large as the unwashed masses fight over those 100 coins. The first few coins started trading moments ago.

Here is a live feed of the developers during launch (screenshot below). Notice it looks like it’s a set from Silicon Valley. You cannot make this shit up.

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There are now over 700 Cryptocurrencies in the world, or just over double the number of officially recognized fiat currencies. This is fucking stupid and unsustainable. They will consolidate.

Bitcoin is still the King. All hail the King.

About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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4 comments

  1. Nice, I am guessing blue dude looking at them like tards is CEO?

  2. Zcash CEO is a 42 year old computer security guy named Zooko Wilcox.

    Yes, Zooko Wilcox.

    https://twitter.com/zooko

    • Thanks for the link. I have learned enough about Zcash to not like it. I would be open to more info.

      What makes Zcash different is that it’s a company rather than an open source project. The main developers are taking 20% of every mined coin.

      I think Zcash will go to zero. It’s the worst kind of hype and bad for cryptocurrency in general. Best case it’s a pure gamble and I wouldn’t touch it.

      Bitcoin is the only Cryptocurrency I hold.

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