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janandonly

I am not a big fan of alt-coins, but I'm not sure I would dare call ZCash a "Crypto token scam project".

A scam in my book has one or more of the following properties:

- pre-mined (a part) off all tokes (like ETH ~70%) [1]

- has a team that will "rug pull" the users of their coin (think ONEcoin) [2]

- Is only paying lip-service to being decentralized (think again ETH) [3]

Also, who cares where the money comes from? I believe TOR is a project worthy of sponsoring...

[1] https://etherscan.io/stat/supply [2] https://cryptotips.eu/en/blog/the-onecoin-scam/ [3] https://decrypt.co/44321/70-of-ethereum-nodes-are-hosted-on-...

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All of them are, including this 'ZCash'. As long as there are enough greater fools to pump the price of the token. Only for them to lose their money in the end.

Tor is already seen in a bad light for being used for illicit activity, terrorism, illegal drugs, etc. We can have and fund tools that enhances privacy without endorsing or taking money from a so called 'cryptocurrency' that exists to distribute fake internet dark web tokens.

At least if the are fake they can't be used for drugs and terrorism. Otherwise it wouldn't be fake :)

You're contradicting yourself many times in this thread.

Wrong.

I explicitly do not call them currencies because they cannot be used as such in the real world. All these tokens are extremely volatile and always used by speculators which makes them useless to be used as a currency.

It is fake money that is being cashed out for fiat money on these unregulated token exchanges, not to mention the decentralised ones.

But you just outlined use cases for crypto (illicit activity, etc) in your grandparent post while simultaneously claiming crypto can't be used as a currency. Which is it?

Both.

As I said, they aren't useful at all in the real world legally, only on unregulated exchanges where only mostly criminals are able to swap their tokens for fiat from their scores of ransomware raids and scams.

I would be in favour of regulations needing to kill this part off as Monero and Zcash isn't accepted on most of them. Not to mention you cannot even pay your taxes with these crypto tokens.

It's quite easy to be ,,just'' a criminal nowdays. All you need is just be born in a country led by a multibillionaire dictator who wants to nuke the world and want to receive your salary for your hard work from an American company.

> All of them are

Perhaps instead of spreading even more ink around you could go into why you think this is the case. As it stands, the reader can only conclude you are angry - nothing else.

As I have mentioned before on other threads, crypto has no usecase other than to speculate on the token price, scam people and to embolden ransomware in the case with Zcash and other privacy tokens. On top of it all they all are unregulated and fluctuate too much to even act as proper currencies which they are not.

Other voices such as Luke [0] explain in vastly more than a HN thread.

[0] https://lukeplant.me.uk/blog/posts/the-technological-case-ag...

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