The Issues Behind Zcash

" Basically, Zcash has this going on:
The first thing that you have to know is that, for preserving the anonymity of the transaction, the core of the project, miners only receive the proof of transaction, a snark proof, not the transaction itself. You can't detect double-spends in that way. You can't audity the blockchain. Like, at all. You can't know how many coins are out there, how many coins are being mined, you don't know nothing. What is the point of that blockchain.

 It gets worse: You'll only find out about an attack, like TheDAO or what's going on with ETH right now, or even an error, after it's too late. The community will only notice when the coin hit the damn flor and burn. Think as TheDAO Nightmare with Hyper Plus. 

 Bad? Gets worse. Remember those snark proofs? ELI5 here: Think of a method of cryptography that uses a keyword, fair right? Pratically unbreakable? Ok. There you go, Zcash Foundation will generate the key in closed doors along with some "investors" and you basically have to trust them to throw away the magic keycard. If they don't, however, they basically can print money and you'll never know, right? 

 Currently for sending a single transaction is consuming around 3GB of RAM on a PC. Can you imagine withdraws from an Exchange? 

 It gets worse:

Recently one of Zcash's developer said on Twitter about the possibility of splitting(?) Zcash in chains or something along those lines and was asked obviously about the risk of a 51% attack. His response to the user? "You are right, I'll have to figured it out ways on how to avoid/prevent this."

ROFL

Update: The part where I talk about the keyword, and I was trying to recall the term, it's: trusted set up"

Said sn0wr4in on reddit.