ZenCash (ZEN) 10x potential in mid term!
ZenCash as a mid term investment
ZenCash (ZEN) was mentioned by PalmBeach and also by McAffee in the Larry & Joe show.
McAfee mentioned XVG and DGB side by side with ZEN and as you might see - XVG pumped till today. DGB was the coin of today and jumped 100% in just a few minutes. We will be seeing another boost. XVG went 10x in just a few days.
So why ZEN? What is the coin all about?
Privacy. The coin is about privacy.
ZenCash has about 2.2 million coins outstanding.
Just like bitcoin, there will never be more than
21 million ZenCash coins.
ZenCash started as a clone of Zcash using a new protocol called zk-snarks which allows for "shielded transactions".
This allows for anonymous transactions.
Short history of ZenCash forks:
Short info about other privacy coins:
DASH has the treasury which allows the community to decide what to invest in.
Zcash wants to keep your transactions and wealth secret.
Monero wants to be untraceable.
With privacy coins there are a few issues.
Their funding model is the first point. The developers need to get paid for what they do so there is definitely the need for funding. DASH is the one that found a pretty good solution.
ZEN allows for decentralized development through the community voting on what to do next. Just like DASH.
When you have a funding mechanism that the community votes on, it ensures the best ideas and
the most committed developers are getting the money they need to keep improving the project.
The ZenCash Foundation Treasury gets 8.5% of all mining rewards.
The second point is security which is a MUST in today's world.
ZEN allows for end to end encryption with secured nodes.
Whitepaper quote:
secured nodes are to “ensure the system remains distributed, resilient,
and secure. By enforcing encrypted communication between nodes, and between nodes and
wallets, Zen protects against eavesdropping [...]”
Because the government will try to link identities with cryptos it's a must have for the future.
Anyone offering a secured node will get a share of about 3.5% of the mining rewards which guarantees for many people offering secured nodes.
The third point is privacy.
It doesn't only offer completely anonymous transactions but also a platform for developers to build their applications on. ZenPub as an example allows you to store and publish documents anonymously. Another example would be ZenTalk which is like an invitation only Telegram channel or Twitter feed that lets you broadcast messages anonymously aswell.
There are other things to consider
(like the market cap and the total amount of coins)
For comparison:
Dash (DASH):
https://coinmarketcap.com/currencies/dash/
Market Cap
$10,519,934,060 USDCirculating Supply
7,770,441 DASHMax Supply
18,900,000 DASH
Zcash (ZEC):
https://coinmarketcap.com/currencies/zcash/
Market Cap
$1,737,234,643 USDCirculating Supply
2,897,869 ZEC
Monero (XMR):
https://coinmarketcap.com/currencies/monero/
Market Cap
$6,432,832,575 USDCirculating Supply
15,505,285 XMR
ZenCash (ZEN):
https://coinmarketcap.com/currencies/zencash/
Market Cap
$136,464,272 USDCirculating Supply
2,840,000 ZENMax Supply
21,000,000 ZEN
You can clearly see that ZEN is quite undervalued compared to these coins.
Interview with McAfee:
Also take a look at this interview with McAfee where he talks about different privacy coins:
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It does clearly show the potential McAfee sees in ZEN.
Technical analysis:
Now lets come to the technical analysis side of things.
ZENUSD shows a steady increase in price which gives insight to the rising demand This also shows that the volume increase is also a buying increase. Else the price would drop or it would stay the same.
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Please don't take me as an financial advisor. I'm just a trader. Take this as informative material not as a guide how to make profit.
X10 for ZEC? I have some ZEC, this is one of worsterst coins in my small portfolio. I don't believe in X10, I'm ready to sell at 0.065-0.075 BTC
What makes you think so? The USD price is increasing steadily.
Also XVG was once way below it's actual price only because McAfee mentioned it. There is a great chance ZEN will be mentioned because he mentioned it in the interview already. It's far ahead in means of a product than XVG is because it actually has a working product unlike XVG which still struggles with the Wraith Protocol.
Ups, I made a mistake, ZenCash, not ZEC. As any smallcap coins, Zen can male X10. Not bad TA picture: https://www.tradingview.com/x/dMUqQwyB/
But I will not buy it, too mineable!
Hi Julian, I thought you are very professional, why do you need to block me in your telegram group after saying that you will return my funds to me? You have cheated my hard earn investment funds and It's a total lied that you said you will return my money to me! I have put my total trust in you after you said that you will handle my investment for me but ended up month after month, you keep ignoring my question about when will I receive my money and now you have totally block me from your chat group in order to keep this from your members. I have been so loyal to you and trusts, please member, if there is anyone that could help me..![IMG_0634.PNG](https://steemitimages.com/640x0/https://steemitimages.com/DQmNmPjSJmaf5Y1FaiFnw1NbijsAR4WSPC6C6JbDMVPGwJe/IMG_0634.PNG)