If you told me 6 months ago that Zcash would start absorbing Bitcoin’s original use-case, I’d have laughed.
Today, I’m not so sure…
In fact, I believe a strong case can be made that BTC’s original cypherpunk vision has been hijacked.
Not just because it has underperformed things like the $QQQ‘s, but because its role as a sovereign, censorship-resistant, private medium of wealth storage and transfer has been hollowed out…
For example,
~9% of all BTC sits in US ETFs or government treasuries today; custodial, surveilled, fully transparent structures where individual sovereignty is basically zero.
At the same time, global financial surveillance is accelerating.
From EU stablecoin balance caps, eventual roll outs of CBDC’s across a range of jurisdictions and the very real possibility of a more interventionist, anti crypto “democratic socialist” US government.
What many no longer discuss i
...