Are privacy coins already dying - page 3.

jrrsparkles

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

We can't say the regulations directly affected the privacy coins and it will completely kill the future of it because the next level of decentralisation is complete anonymous coins which still has the user base if I am not wrong but the most preferred privacy coin faced some technical issues in the past later governments made regulations which completed delisted the privacy coins from exchanges so price went down and volume but it doesn't mean it will be forgotten...

In future we may have better developed privacy coins and government may support cryptocurrencies with no regulations will make them to exist.

serjent05

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Quote from: hugeblack on October 22, 2022, 08:55:04 AM

What will survive any privacy coin in the long run is that it be continuous development and really be a decentralized private currency.

I believe its continuous usability will make the privacy coin survive the pressure from the authority. As we all know privacy coins is frowned upon by the government and is delisted from several exchanges because of government regulatory pressure. Privacy coins will indeed develop and deliver privacy as what its users wanted but without anyone using it, these privacy coins will certainly die, so basically, their usage that will enable privacy coins to survive and continue if not in the mainstream, in the black market at least.

dothebeats

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There's really not a lot of demand to these coins nowadays. A lot of people are opting for coins that can post them quick profits and are 'flashy,' and topics like privacy doesn't really come to their minds as evidenced by a lot of people giving out their personal information on bounties and airdrops in exchange for some of those new coins to be had for free. If there would be a privacy coin that is trendy, and can literally keep up with the ads that other big crypto names are putting out, perhaps there is a fighting chance. But I still wouldn't bank on it heavily, though. Also, privacy is a niche that not everyone is really interested in given how excessively showy a lot of us are nowadays.

Xal0lex

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Cryptocurrency privacy itself, like coins, is dying. Governments, regulators, and centralized exchanges are doing their best to harm the spread and development of privacy coins. I believe that apart from Monero, which has managed to form a large user base, no coins will survive long. You can also forget about new projects of privacy coins, they won't take their niche on the market in such conditions, because they are not welcomed on large trading platforms. The destiny of privacy coins is to hide in darknet and be used to pay for dubious services and goods.

Anonylz

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Are they? Well that will be because the number of people who are concerned about privacy are far less than those who do not. I don't think they will completely die since we still have a tiny percentage that cares much about using privacy coins to protect their transaction.
They may not be popular among the vast majority of crypto enthusiast but it doesn't mean they will completely die off, except nobody uses them anymore which I doubt will happen.

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Quote from: Minecache on October 22, 2022, 11:00:05 AM

Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

So far privacy coins like XMR, ZCASH, DASH... I still find them to work fine and no problem but they don't seem to be trendy anymore. Nowadays, people enter the market mainly looking for profit and they will only be interested in things that can bring them profit, technology or anonymity is hardly a concern for them anymore. Privacy coins are also becoming a target of governments as their privacy can be exploited by criminals, so investors are also starting to limit their investment in them.

My opinion is that private coins will still show their best side. It's just that not everyone understands the benefits of privacy yet. When regulation affects the entire cryptocurrency industry and people start having problems with blocking funds and censorship, then it will be the finest hour for private coins. I don't exclude that there could be strict regulation or a digital concentration camp where private coins will be necessary.

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Quote from: lobo13hf on October 22, 2022, 10:50:00 AM

Since people didn't even care anymore about the privacy coins and they were abandoning the privacy coins. In my opinion only a few privacy coins that will still exist in the future. These are zcash and monero. Mostly of privacy coins will be dying or even dead.
It's caused by soon centralized exchange site must follow up the regulation and they must be delisting all of privacy coins from the market.

It will still depend on how those company will be able to keep their coin on track and listed in exchanges. They might not be on top now due to many other coins but some might still want some privacy despite having stricter regulations. They can stay in the market but may not be that profitable that they did before unless they will be able to create some hype in the future. Other holders will just hold it while they are focusing more in other altcoins that are getting peoples attention for easier profit.

jackg

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Monero is performing better than bitcoin imo over the past few weeks (I'm not sure if it'll stay that way or not - it might be more stable compared to fiat).

Grin has really high inflation - it's good for adoption and incentivising mining but bad for its price - even with inflation factored in, its current valuation is far too low.

A lot of exchanges banned privacy coins or started confiscating them from non kyc accounts which was probably one of the main problems they've faced - dexes have come out but they either came too late or are too primitive (I think privacy coins will do well over a longer term provided they're not replaced by better). I think grin and xmr have very active developer communities though too.

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

So far privacy coins like XMR, ZCASH, DASH... I still find them to work fine and no problem but they don't seem to be trendy anymore. Nowadays, people enter the market mainly looking for profit and they will only be interested in things that can bring them profit, technology or anonymity is hardly a concern for them anymore. Privacy coins are also becoming a target of governments as their privacy can be exploited by criminals, so investors are also starting to limit their investment in them.

lobo13hf

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Since people didn't even care anymore about the privacy coins and they were abandoning the privacy coins. In my opinion only a few privacy coins that will still exist in the future. These are zcash and monero. Mostly of privacy coins will be dying or even dead.
It's caused by soon centralized exchange site must follow up the regulation and they must be delisting all of privacy coins from the market.

wheelz1200

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

They will survive but they aren't trendy. Unfortunately this market is run by greed so people jump on what's trendy. Masternode coins in 2017, meet coins in 2020/21, etc. In the end they always die but boring coins end up sticking around.

Jackl87

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

I personally don't think that privacy coins will die. Yes of course they have suffered some heavy losses in the last few months or maybe even years but this is just the typical behaviour of the crypto market. The whole crypto scene is still based very much about hype and trends and therefore stuff like Defi, NFT's, Play2Earn and Metaverse were just way more present in the last 2 years than privacy focused projects, but this can change again in the future. At the moment almost every type of crypto project is having a hard time because we are in a full bear market now for at least 1 year now but in the future i am sure that privacy coins will also rise again.

hugeblack

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

Can you explain to me what this bad news is? Or a link to press articles?

If we go back, the news about Bitcoin from 2013 to the end of 2016 was related to the fact that Bitcoin is a Ponzi model or used for fraud and drugs dealers, did this lead to a loss of interest in Bitcoin?

What will survive any privacy coin in the long run is that it be continuous development and really be a decentralized private currency.

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Quote from: Z390 on October 22, 2022, 03:42:22 AM

I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

I don't have any further views on privacy coins, but of course these coins are currently limited by regulations in various countries. As one example is our local Exchange (Tokocrypto), they decided to remove $TORN, $XMR and $ZEC trading starting on November 3rd. Having these restrictions will more or less affect adoption, although people in restricted areas can buy them through the P2P marketplace. Long ago I also saw this will happen to privacy coins, hopefully we get good news on these privacy coins in the near future.

Reference:
[1] https://support.tokocrypto.com/hc/id/articles/9627386688781-Tokocrypto-Akan-Menghapus-Token-TORN-XMR-ZEC-pada-03-November-2022 (Bahasa Indonesia Language)

vv181

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Seems like I saw an nth thread of privacy coin being doubted.

Privacy coin demand won't cease to exist. And those who truly utilized and seek privacy won't bother about the price action. Heck, why should they care about the price? Except, it is those who generally thought of cryptocurrencies as a whole categorized as an investment, not a utility. The demand is there, and that is the reason why Litecoin implements MimbleWimble. Privacy is essential in the long run, thus privacy coins will continue to exist.

Z390

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I haven't heard any good news about privacy coins this days, it seems that people are losing interest in privacy coins because of regulation? Also privacy coins have bad performance compared to other altcoins, what is going on? Can privacy coins survive on the long run?

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