“Nothing is more powerful than an idea whose time has come.” – Victor Hugo
I first heard about
#zcash around the same time I bought my first
#bitcoin in 2017. I saw incredibly smart people working on it and recognized the added benefit of privacy. Still, I didn’t buy it for two reasons: the inflation rate was sky-high, and I didn’t see a pressing need for privacy. Unless you were a criminal, it seemed like no one cared. Privacy by obscurity was sufficient for the average user.
Both of those reasons not to buy Zcash no longer apply.
Inflation is now reasonable
I’m not sure using Bitcoin’s supply curve was the best choice in a post-Bitcoin world. One could argue that better distribution might have been achieved by attracting more users with a more stable currency, rather than punishing early holders with high inflation. But what’s done is done.
Today, Zcash’s inflation rate has reached a level where holding some makes sense. It's also now roughly equivalent to Bitcoin's during its first major "mainstream" expansion in 2017.
Why is Privacy Important
We now live in a society where I can open Venmo and see transaction details from friends settling bills—dinners, Airbnb shares, you name it. Most people don’t mind this level of exposure among friends.
But current blockchain implementations aren’t just visible to friends—they’re visible to everyone.
Imagine a version of Venmo where your bank balance, pay stubs, and large purchases are public. Not just to your social circle, but to the entire world, including bad actors who might want to take that from you. Crypto makes this even more dangerous because you alone control your assets. Under threat of violence to yourself or your loved ones, many would choose to give up their holdings. Personal safety often outweighs financial gain.
Right now, privacy by obscurity gives most unknown users some peace. But if that privacy disappears, who will criminals target? You’ve effectively put a bounty on yourself. Those with means may hire personal security. Those without will have to look over their shoulders.
Privacy allows us to avoid playing this dangerous game altogether.
This is just one of the many benefits of privacy—one that may resonate with crypto holders in particular. But for people living under oppressive regimes, privacy can be a matter of survival. And for others, it’s simply about not broadcasting personal choices—like spending $6 a day on coffee.
The key point is: you should have the choice. And that choice is increasingly under threat.
Why Privacy via Encryption now matters
I know we’re all tired of hearing about it, but yes—the answer is AI. Sorry.
Since the first version of ChatGPT, AI has dominated market attention. While the impact of AI is hard to predict in full, one area that hasn’t been talked about enough is privacy.
On an open ledger accessible to everyone, the only real barrier to total transparency is the effort required to analyze the data. AI is rapidly removing that barrier. Privacy by obscurity will collapse as AIs become capable of connecting all the dots—quickly, efficiently, and at scale.
Converging forces
With privacy by obscurity on its last legs, I expect the market to start valuing privacy by encryption.
Today, the entire privacy coin sector makes up just 0.3% of the total crypto market cap. That’s a rounding error—yet it also signals one thing clearly: the growth potential is massive. As the risks of full transparency become more obvious, and AI accelerates the erosion of anonymity, demand for true privacy solutions is poised to grow.
Among thousands of cryptocurrencies, only a handful are privacy coins. And of those, only one uses privacy by encryption. That same coin recently underwent a halving, significantly improving its inflation outlook.
That coin is Zcash.
$ZEC