Top VCs endorse privacy coins: Why does Haseeb compare Zcash to BitTorrent

Dragonfly Managing Partner Haseeb recently shared an interesting perspective on social media: he compares Zcash to BitTorrent, believing that both have survived in their respective fields because of their commitment to the “righteous mission” and decentralization principles. This analogy reflects a new understanding within the crypto industry regarding privacy coins and project compliance.

Why Origin of Innocence Matters

Haseeb’s core argument is straightforward: although both Zcash and BitTorrent have been stigmatized for their functionalities (the former for privacy features, the latter for piracy risks), they have persisted because of their adherence to a legitimate mission. He emphasizes that neither project involves illegal activities but focuses on the intrinsic value of the technology itself.

This viewpoint received support from Josh Swihart, a representative of the Zcash ecosystem, indicating that this is not just Haseeb’s personal opinion but also a consensus within part of the industry.

The Deeper Meaning of the BitTorrent Analogy

Why choose BitTorrent

• BitTorrent has persisted due to its decentralization philosophy and has not been suppressed
• Zcash also demonstrates the spirit of “true believers” and “cypherpunks”
• Both survive amid stigma by staying true to their missions

Industry signals implied

Haseeb uses a widely accepted protocol to draw a parallel with Zcash, essentially saying: privacy technology itself is not problematic; the key lies in how it is used. This is an important clarification for privacy coins that have long been questioned by regulators.

Zcash’s Market Status

According to the latest data, Zcash’s performance remains relatively stable in the market:

Although short-term prices are under pressure, Zcash, as an established project in the privacy coin space, still maintains a high level of market recognition. Since its launch in October 2016, it has endured multiple market cycles.

The Underlying Logic

As a managing partner at Dragonfly, Haseeb is known for his value discovery investment philosophy. He previously commented on the “Big Three” in crypto VC, and now supporting Zcash reflects his focus on the project’s essence—not hype stories, but the importance of technological mission and team conviction.

This viewpoint also highlights a trend in the crypto industry: shifting from solely pursuing profits to emphasizing project compliance and legitimacy. Privacy coins are no longer simply labeled as “bad actors” but are being reassessed for their technological value.

Summary

Haseeb’s BitTorrent analogy illustrates a simple yet profound truth: in the long-term survival of the crypto industry, “innocence of origin” and “righteous mission” are more important than short-term market hype. Although Zcash has long been controversial due to its privacy features, it is gaining recognition from top-tier investment institutions—not as an endorsement of privacy coins per se, but as respect for its technological integrity.

In an increasingly clear regulatory environment, this “true believer spirit” may be more valuable than any marketing effort.