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Great job - the currency is down 97-99% since launch 2 weeks ago (depending on what prices one takes from the first day of public trading). I've been following
by bachback 10y ago
Great job - the currency is down 97-99% since launch 2 weeks ago (depending on what prices one takes from the first day of public trading). I've been following Altcoin launches since 2013, and this was the most ill-advised and corrupted so far.
- ewillbefull 10y agoThat's not the full picture. Zcash has a "mining slow start" which slowly ramps up the mining reward for the first two weeks, to reduce the threat that a large amount of the ultimate monetary base would be in control of early-advantage miners. As a result of the significantly reduced supply, the price was very high shortly after launch.
- bachback 10y agoOh, it is a great work of art, this financial engineering. Anyone who has put in money is down 90% already and will never see that price again. I'm not surprised at all - Cryptographers without knowledge (pun intended) of economics shouldn't be designing these systems. Zooko and everyone involved made a great fool of himself.
- solotronics 10y agoI think additionally it would be good to compare the price*volume to get an idea of whats happening. If only a few trades were made at $5k...