Zcash Haunts Cobo CEO with Lightning Strike Misfortune
Cobo CEO Shenyu shared a personal experience on social media about being 'haunted' by ZEC, or Zcash. The incident occurred during the cryptocurrency's mainnet launch in October 2016. At that time, BitMEX had set a price ceiling for ZEC at 10 BTC, reflecting high market expectations.
Shenyu recounted how his GPU mining rig was damaged when a transformer at his farm was struck by lightning on the night of the mainnet launch. This incident prevented him from participating in early mining, and as a result, he has not held or purchased ZEC since then.
The story highlights the high-risk environment faced by early cryptocurrency miners, where hardware failures and natural disasters could directly impact their participation in emerging projects. Shenyu's experience also reflects the extreme speculative sentiment at the time, which led to price ceilings like the one set by BitMEX.