Hoarding, FOMO, and Zcash: A Private Bitcoin
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 29 October 2025
⏱️ 24 minutes
🔗️ Recording | iTunes | RSS
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Summary
What’s the difference between hoarding and investing? There’s a reason markets built on productive assets—like stocks and bonds—are far larger than hoarding markets such as gold and cryptocurrency. In this episode, David explores why that is, and shares why he recently bought Zcash, and how it’s both similar to and different from Bitcoin.
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Show Notes
The Largest Companies by Market Cap in October 2025—The Motley Fool (Accessed October 2025)
Selling Gold in the Diamond District - Money for the Rest of Us Substack
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Transcript
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| 0:00.0 | Welcome to Money for the rest of us. This is a personal finance show on money, how it works, |
| 0:05.3 | how to invest it, and how to live without worrying about it. I'm your host, David Stein. |
| 0:10.2 | Today is episode 543. It's titled, hoarding, FOMO, and Zcash, a private Bitcoin. |
| 0:17.5 | Last month, I received a text from a friend of mine who we have known each other for |
| 0:23.5 | over a decade, and he is a smart investor, is very knowledgeable on cryptocurrency. And his text said, |
| 0:31.7 | You ever look into Zcash? It's effectively private Bitcoin. He said that he's seeing non-hype-oriented crypto people that he respects talking about it more these days and suggested that this privacy aspect of Zcash might make for an interesting show topic. |
| 0:51.6 | He also pointed out that Zcash was selling for $50 versus |
| 0:55.7 | $100,000 plus for Bitcoin. Now, I had looked into Zcash. In fact, I used to own it. I purchased |
| 1:02.9 | four or five Zcash coins that go by ZEC in the summer of 2018, paid around $150 or so per coin. This was when Circle, the issuer of the |
| 1:15.7 | Stablecoin USDC sponsored our podcast. At the time, they were a relatively new company. They |
| 1:21.6 | hadn't launched a stablecoin yet. Their main offering was a crypto wallet that you could |
| 1:27.0 | custody Bitcoin and other cryptocurrency, |
| 1:29.7 | and I already owned Bitcoin and Ethereum by then. And so I bought Zcash for that crypto wallet, |
| 1:36.0 | just to try out the wallet, make sure it worked. Well, after a circle launched its stablecoin, |
| 1:41.1 | it closed its crypto wallet and transferred the assets to Voyager. Voyager, you may |
| 1:46.4 | recall, filed for bankruptcy in 2022, and at that point my little Zcash holding was locked up. I was |
| 1:53.6 | able to access a portion of the funds in 2023, and by then Zcash was selling for $30 a coin. Now, I didn't think anything of it because I own |
| 2:05.1 | a dozen or so crypto coins and tokens, small positions, some of which have done well and others |
| 2:11.4 | have done terrible. These are speculations. I only put enough in that I'm willing to lose it all. |
| 2:17.4 | And for some, |
| 2:18.8 | Rap Luna, the Mirror Protocol, I effectively lost it all. Others like Solana and Ave have done better. |
| 2:26.8 | The total market capitalization of the crypto universe is about $3.8 trillion. That includes |
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