Watch out, Zcash is another scam

In a few days we’ll see the official launch of Zcash. It’s yet another alt-coin (ZEC) with new features. Think of Bitcoin but without public transactions. The maximum number of 21 millions coins isn’t chosen by accident. This project really wants to be the anonymous version of Bitcoin. But there’s a catch…

In a few days the network goes live and dozens of people will buy/sell coins on exchanges as this is “the new hot thing in crypto”. Well, it’s a free world isn’t it? And everybody should be free to launch and trade whatever they want. But Zcash uses the exact same tactics spotted at the launch of Ethereum. The idea is quite simple: while the the whole world is used to Apps and GUI’s you launch your project without one. That way a few nerds (including the founders/devs) have a big advantage over the rest. How big? Think of a small group of people (not even 100) that mine all the first blocks. Guess who’s making the market when trading goes live? Indeed, the few nerds that know how to compile this stuff while the rest is in the dark. Don’t be fooled with messages like: “Yes we are working on a Windows GUI” because it will take them years. Remember this Ethereum Mist video? Guess what, it still isn’t there. We do have a light version of Mist but it doesn’t even come close to the video. I guess the devs aren’t paid that much for their work….