Are privacy coins destined to failure?

Abiky

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Quote from: MonsterV on October 13, 2021, 09:54:13 AM

I don't think they are destined to be failure. Nowadays most people is thinking about money, business and quick profit that's why most companies and developers are going along with what is hype today. Right now DeFi and NFT is a hot topic in regards with the investors since it is very popular in the industry but some serious developers and companies really do build a project such as Monero, Zcash which is to protect the privacy of the users and its transactions.

They are not on the hot news now but it doesn't mean they are failure, it is just there are some new projects that are new to some people and of course they are much more interested to it.

Privacy coins might not disappear, but they'll be out of the spotlight as other cryptocurrencies gain the attention in the mainstream world. Cryptocurrencies with built-in privacy features will only represent a small portion of the market, as Bitcoin and smart contract platforms like Ethereum, Solana, and Binance Chain take the world by storm.

I'm hoping people will turn to privacy coins the more invasive government surveillance becomes in the future. Monero is the leading privacy coin on the market, so I'm guessing it'll gain the most traction after this. Centralized exchanges might de-list privacy coins, but people can still use decentralized exchanges or even atomic swaps to get access to them. I'm fine with that as long as everything remains decentralized. Just my thoughts Grin

Looper_U

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I don't think so, just because Privacy coins aren't needy today doesn't mean their time won't come soon, it's just like how DeFI and NFT have been around for years before they become well known and popular throughout 2020 and 2021

Dewiana

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maybe this is part of the privacy coin technique is also part of achieving success, because the privacy coin is to protect
from various obstacles, and it could be so that security is more guaranteed from various possibilities that occur. Other things to look at and what guidance global regulators are bringing for example the Financial Action Task Force (FATF) on privacy coins., which was announced mid-2021 there are new AML/CFT recommendations for those dealing with (AEC), as the FATF calls the coin privacy,

MonsterV

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I don't think they are destined to be failure. Nowadays most people is thinking about money, business and quick profit that's why most companies and developers are going along with what is hype today. Right now DeFi and NFT is a hot topic in regards with the investors since it is very popular in the industry but some serious developers and companies really do build a project such as Monero, Zcash which is to protect the privacy of the users and its transactions.

They are not on the hot news now but it doesn't mean they are failure, it is just there are some new projects that are new to some people and of course they are much more interested to it.

Abiky

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Quote from: timerland on October 08, 2021, 04:18:31 AM

No.

In fact with the recent wave of governmental crackdowns I think that crypto adopters are going to be more cognizant of privacy than ever.

I am a long term bull of XMR. There is real potential especially for the ultra rich as they will likely not want people to speculate on what they're doing with their cash every time they move coins from one address to another.

Good point. Wealthy people could find privacy coins useful, especially when it comes to obfuscating transactions from third parties. After all, you don't want anyone knowing how much money you have, right? Of course, privacy coins are a double-edged sword. They can be used for both good and bad things, just like it's the case with any other cryptocurrency on the market.

I believe privacy coins will be used more thoroughly for illegal activities in the future, since they "allow" anyone to evade taxes or even perform money laundering. Governments won't care about privacy coins' legitimate use cases if most people use them the wrong way. You can see why there's been pressure against centralized exchanges to de-list privacy coins like Monero and Grin at will. What matters is decentralization and censorship-resistance. As long as privacy coins stay that way, they'll be truly unstoppable. Just my thoughts Grin

pawanjain

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Quote from: eaLiTy on October 07, 2021, 01:58:04 PM

People will still use privacy coin no matter how hard these regulations will be but they it will be forced to trade in dark markets or in exchanges that are situated in free heavens.

Yes ofcourse, that's what is gonna happen if most of the countries implement regulations on privacy focused coins.
There is no other option other than these 2 for now and I think people will only use those few exchanges in the free heavens promoting monopolies.
But still, this won't stop those people who are fond of using privacy focused coins. Just that they will get low number of options to make their transactions.

timerland

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No.

In fact with the recent wave of governmental crackdowns I think that crypto adopters are going to be more cognizant of privacy than ever.

I am a long term bull of XMR. There is real potential especially for the ultra rich as they will likely not want people to speculate on what they're doing with their cash every time they move coins from one address to another.

Jackl87

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Quote from: Abiky on September 17, 2021, 10:40:56 AM

Cryptocurrencies with a transparent blockchain ledger have seen an exponential increase in demand as people join the craze. Coins with smart contract functionalities and Bitcoin are soaring towards new All-time-highs. But the same cannot be said about privacy coins like Monero, Zcash, Grin, Dash, and BEAM. It seems that innovation and mainstream demand for privacy-oriented cryptocurrencies have declined for the past years.

Nowadays, it's all about NFTs and "De-Fi" leaving privacy behind in the dust. If you take a good look at the market, you'll notice that there hasn't been a new privacy coin for quite some time. New coins and tokens are usually built on existing blockchains with a transparent ledger or one from scratch without any privacy features whatsoever. If this keeps up, privacy on crypto might become extinct. The more centralized exchanges de-list privacy coins, the less their public exposure will be. Governments may have succeeded in destroying privacy coins altogether.

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

As others in this thread already mentioned, trends and hypes come and go and at the moment the crypto space has other topics and trends that are in the center of attention of almost everyone; stuff like NFT's, DeFi, play-to-earn games and sad but true, also all those sh*it-coins that are still appearing every day. That doesn't mean though that privacy oriented projects are dead or that they will never increase in price again the focus of the people is just somewhere else at the moment. There will sure be a time in the future where privacy projects will rise while all the other projects are dropping or remaining stable again. There are also still new privacy projects coming out. Recently i heard about sahara protocol, which sounds interesting, but it is also still very early with not much infos yet. https://sahara.network/

Luffygroove

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These privacy coins are still controversial especially for the governments because probably their concern is around money laundry and crime. Probably that's why privacy coins aren't that popular like other projects with other features. They absolutely have great technology behind them but still have obstacles in the implementation in the real world. Other projects might not face a negative sentiment as much as privacy coins especially from the government and related institutions. It will hinder their development, but I hope it would change in a couple of years ahead. Privacy coins have great potential for sure.

eaLiTy

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Quote from: pawanjain on September 27, 2021, 10:57:23 AM

~
The people who do care about their privacy and are in need of privacy focused coins will find their way to those coins no matter how strict the regulation is.
Even if Centralized exchanges delist privacy coins then there are still decentralized exchanges which the users can use to buy/sell privacy coins.
Since decentralized exchanges cannot be regulated by the governments more number of people will shift from CEX to DEX.
With the rise of number of people in crypto community the value of decentralized exchanges will grow.

If major countries comes out with strict regulation for privacy coins, what do you expect to be the fate of majority of DEX that are having huge liquidity. As per the law the person launching the decentralized exchange will be held accountable and majority of the DEX founders are known to the public, like Hayden Adams of UniSwap and so on.

People will still use privacy coin no matter how hard these regulations will be but they it will be forced to trade in dark markets or in exchanges that are situated in free heavens.

WeedGoW

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You know, when people want to hide their money trace, don't want to publicize every wealth they've then the need for privacy cryptos will be there. You can disagree or agree in their doing but I just simply point out the fact as the desire for privacy is in the human nature. So privacy cryptos ain't destined to be a failure.

clarkt

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Well...What I do know is that in Cryptocurrency market, different sub-section of the market trend one after the other. And there are many factors that can trigger such trend. In the case privacy coin, news of regulations in US and other countries could raise demand for privacy coin thereby increase the prices of privacy based coin across board! You must understand the timing and structure of the market before you can take good advantage of it!

sikke

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Hell no.

Privacy coins are actually one of the only things that we need right now in the crypto space.

All that NFT and DeFi hype is just a fad. Privacy is one of the things that underpin cryptography and I'm bullish on coins like ZEC and XMR long term.

FloridaKid

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I believe privacy coins time will come, right now it's defi and NFT season and also privacy idea isn't that much needed but I'm certain the time will come and people will need privacy coins more than anything, DeFI have been around for years and no one cares until 2020, remember?

alviemery96

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I still think the right privacy coin can still be successful and acceptable. Transparency doesn't necessarily mean lack of privacy. Users' private content can be concealed, but their activities must be transparent when they interact with the public. but most of the coins and projects they want to be interested in by many users, they always use the latest way to attract users and invest in a transparent way, which is AMA.

RussianEnglishTranslation

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Quote from: Abiky on September 17, 2021, 10:40:56 AM

Cryptocurrencies with a transparent blockchain ledger have seen an exponential increase in demand as people join the craze. Coins with smart contract functionalities and Bitcoin are soaring towards new All-time-highs. But the same cannot be said about privacy coins like Monero, Zcash, Grin, Dash, and BEAM. It seems that innovation and mainstream demand for privacy-oriented cryptocurrencies have declined for the past years.

Nowadays, it's all about NFTs and "De-Fi" leaving privacy behind in the dust. If you take a good look at the market, you'll notice that there hasn't been a new privacy coin for quite some time. New coins and tokens are usually built on existing blockchains with a transparent ledger or one from scratch without any privacy features whatsoever. If this keeps up, privacy on crypto might become extinct. The more centralized exchanges de-list privacy coins, the less their public exposure will be. Governments may have succeeded in destroying privacy coins altogether.

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

I think you missed the mark on this post. It's not that privacy coins are dead, they are very important to our privacy and the greater crypto ecosystem but there has been a decline in adoption and they have failed to pump as much as DeFi mainly because they do not have smart contract functionality. Any cryptos that cannot be connected to other chains and participate in DeFi are doomed to fail. If you are looking for Privacy coins with smart contract functionality they are:

Incognito chain
Dero
0xMR
Dusk
there are more, feel free to add them...

Koutami

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Its not destined to failure since its has a great purposes. But probably most of privacy coins couldnt well marketed since it will faces many problem from government and another issues.

Baimovic

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I also feel that privacy coins have failed for now a lot of them can't survive even though other coins are having a high increase especially with the arrival of DEFI and NFT which are so crazy this year that they made privacy coins invisible to Crypto lovers so many people are leaving privacy coins for the benefit of DEFI and NFT.

ivankoh

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In crypto libertarianism, privacy is an important level of support for the community. This provision does not cover factors that may have influenced the failure of its nature. Monero, Zcash will still achieve their own level of success. Even if taproot comes to bitcoin, privacy will become an increasingly important need, related to the maximalism that the community has always enjoyed. Therefore, I will advocate success for coins with good privacy.

Abiky

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Quote from: kensaii on October 05, 2021, 10:04:04 AM

Privacy coin still has its niche market after all this is the internet, always have someone wishing to remain anonymous. Maybe not many like the old days but they're still there, niche after all. I remembered privacy feature used to be the main feature for many new cryptocurrencies before cex become so dominant and then privacy now is a thing of the past.

Gone are the good-old days where new cryptocurrency projects cared about privacy. People now prefer convenience on top of privacy/anonymity and decentralization. KYC/AML greatly defeated the whole purpose of crypto. At least, there are decentralized exchanges and some privacy coins around. Those who actually care about their privacy will resort to cryptocurrency projects with built-in anonymity features. I don't think such projects will fade away into oblivion as long as there are a community backing them every step of the way. Everything is open source, so anyone can build upon existing projects or build a new one from scratch. As long as people is able to enjoy privacy in crypto, there should be nothing to worry about. Just my thoughts Grin

Ozero

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I don't think high privacy coins will disappear anytime soon. Other areas of cryptocurrency are rapidly developing now and therefore profit and attention do not work in the field of privacy. It should be recognized that states and their governments will primarily attack cryptocurrencies with a high level of confidentiality. However, this cryptocurrency will always have its supporters and a certain demand. The reasons why people try to use privacy coins can be different and they are not always related to criminal or other negative manifestations. Coins with a high level of confidentiality also have a right to circulate and exist.

imstillthebest

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i remember there was an issue with privacy coins before and that might be one of the reason for thier decline but i can still see some privacy coins on some top exchanges , that means they are still alive and theres still some demand on them .
if your concerned about the hyped , its normal that they arent in hyped now because the hype was on nft and defi but this doesnt mean too much . i mean old coins are still relevant and defi and nft could dissapear soon and never go back

kensaii

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Privacy coin still has its niche market after all this is the internet, always have someone wishing to remain anonymous. Maybe not many like the old days but they're still there, niche after all. I remembered privacy feature used to be the main feature for many new cryptocurrencies before cex become so dominant and then privacy now is a thing of the past.

Abiky

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Quote from: CryptopreneurBrainboss on September 28, 2021, 12:52:42 AM

They aren't destined to fail just that this isn't their season and other trends are been chase after at the moment therefore privacy coins haven't been given much attention. They did have their share of the market in the past and will be dominating in the near future especially as countries trends to rollout their centralized versions of Bitcoin.

Once those centralise cryptocurrencies backed by the government are rollout and people begin to experience their disadvantages like not having access to their coins or it been frozen then they'll begin to see the usefulness of decentralization and privacy focused coins will be at the center of attention.

The government are fully aware of this scenario playing out as explained above which is why they're strategically using this time to try discouraging anyone from buying into the idea of privacy focused coins and also forcing the exchanges to delist them as when they're not accessable on exchange, people won't be able to purchase them.

Privacy coins won't be going anywhere. But governments' actions against them, will negatively impact their market prices in the long term. That's the least reason to worry about, since crypto has always been about utility. I guess privacy coins like Monero and BEAM will end up being traded through decentralized exchanges and P2P platforms as all centralized exchanges de-list them in order to keep governments happy. The average person is not tech-savvy enough to understand how decentralized exchanges work so adoption for privacy coins will be at its lowest. I'm fine with that as long as decentralization prevails in the long run. Just my thoughts Grin

CryptopreneurBrainboss

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Quote from: Abiky on September 17, 2021, 10:40:56 AM

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

They aren't destined to fail just that this isn't their season and other trends are been chase after at the moment therefore privacy coins haven't been given much attention. They did have their share of the market in the past and will be dominating in the near future especially as countries trends to rollout their centralized versions of Bitcoin.

Once those centralise cryptocurrencies backed by the government are rollout and people begin to experience their disadvantages like not having access to their coins or it been frozen then they'll begin to see the usefulness of decentralization and privacy focused coins will be at the center of attention.

The government are fully aware of this scenario playing out as explained above which is why they're strategically using this time to try discouraging anyone from buying into the idea of privacy focused coins and also forcing the exchanges to delist them as when they're not accessable on exchange, people won't be able to purchase them.

RussianEnglishTranslation

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Quote from: Sithara007 on September 27, 2021, 11:20:10 PM

Quote from: gwdf1 on September 25, 2021, 10:27:59 AM

Quote from: ?? on ??

With the national regulatory policy, privacy currency will be paid more and more attention.

Actually yes, I agree with you. Now people don't care about privacy very much, but maybe if crypto becomes more regulated, people will want to use private coins more actively. On the other hand, I am sure that authorities are not in favour of such coins, so they can just ban those exchanges that will offer them, so that people even can't use them.

It is not like the people don't care about privacy anymore. They have become more knowledgeable about how to use Bitcoin anonymously. Unless there is a link to fiat conversion, it is almost impossible to trace the Bitcoin transactions back to you. Most of the users have realized this and those who need anonymity are being careful on this regard. But the downside is that now the users don't really need coins that are specifically designed for anonymous payments, such as Monero, Deep Onion, Veil and Verge.

This is a good point, now that mixers exist for larger cap projects like Bitcoin and Ethereum, there is less of a need for a fully private crypto that only does one thing, privacy. Mixercasino is a good option because it combines a casino with a free mixer. 0xMR is also a good way to play this strategy because it is used to pay for mixing of stablecoins and Ethereum. The only 100% privacy crypto I am buying now is a little Dero but that's because I hear Dollar Vigilante is going to pump it in his next video.

Sithara007

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Quote from: gwdf1 on September 25, 2021, 10:27:59 AM

Quote from: ?? on ??

With the national regulatory policy, privacy currency will be paid more and more attention.

Actually yes, I agree with you. Now people don't care about privacy very much, but maybe if crypto becomes more regulated, people will want to use private coins more actively. On the other hand, I am sure that authorities are not in favour of such coins, so they can just ban those exchanges that will offer them, so that people even can't use them.

It is not like the people don't care about privacy anymore. They have become more knowledgeable about how to use Bitcoin anonymously. Unless there is a link to fiat conversion, it is almost impossible to trace the Bitcoin transactions back to you. Most of the users have realized this and those who need anonymity are being careful on this regard. But the downside is that now the users don't really need coins that are specifically designed for anonymous payments, such as Monero, Deep Onion, Veil and Verge.

jostorres

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Quote from: Abiky on September 27, 2021, 11:40:42 AM

Governments are surely behind privacy coins' decline in price. After all, they don't want people using something they can't control or audit. Monero is the leading privacy coin, but it's been struggling to reach new all-time-highs because of government oppression. Centralized exchanges are the ones who dictate the rules of the crypto market, so turning themselves away from Monero will only do more harm than good for the cryptocurrency's mainstream adoption.

At least, Monero will survive because of way it was designed. There are other alternatives to centralized exchanges, so it should only be a matter of time before people embrace them. Decentralized exchanges and peer-to-peer trading are the only options people have to get access to privacy coins. Prices won't soar that much because of reduced public exposure. But I'm fine with that as long as Monero is useful. Just my opinion

I believe that no privacy coin is big enough to be cared by the government honestly. It is obvious that none of them ever made it to a level where governments would have to intervene, they already dropped all by itself without the need of any external push.

You may consider that this whole process for the past 5 years was due to governments trying to keep it low, and I can't blame you because I do not have any data to back mine up neither just like you do not have any for yours, so we could be either right or wrong and nobody would know which one of us is right. However, I really doubt that any government anywhere in the world would care about a few billion dollars in size, that is nothing compared to what the big ones have.

Abiky

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Quote from: tsaroz on September 25, 2021, 11:37:51 AM

We can't claim privacy coins a failure just because they are not increasing in price in the same ratio as bitcoin. Most of the coins are much lower than their all time high and if you look at the popular privacy coins, they are holding their prices in upper resistance. With the government around the world going hostile against crypto, the necessity of such privacy focused coins are ever increasing. And unlike most of other hyped coins, privacy focused coins are actually being used as a merchant payment.

Governments are surely behind privacy coins' decline in price. After all, they don't want people using something they can't control or audit. Monero is the leading privacy coin, but it's been struggling to reach new all-time-highs because of government oppression. Centralized exchanges are the ones who dictate the rules of the crypto market, so turning themselves away from Monero will only do more harm than good for the cryptocurrency's mainstream adoption.

At least, Monero will survive because of way it was designed. There are other alternatives to centralized exchanges, so it should only be a matter of time before people embrace them. Decentralized exchanges and peer-to-peer trading are the only options people have to get access to privacy coins. Prices won't soar that much because of reduced public exposure. But I'm fine with that as long as Monero is useful. Just my opinion

pawanjain

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Quote from: eaLiTy on September 25, 2021, 11:41:00 AM

Quote from: pawanjain on September 25, 2021, 11:09:29 AM

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

In hindsight your calculation is true and i would like to see people venturing into privacy coins as well and the problem i see is that the authorities will not be happy to see that users are using these privacy based coins. The first option i see coming from the authorities when they regulate the cryptocurrency market is that, they will force the centralized exchanges to delist the privacy coins if they want to be in their legislation.

In short even though we want to see the privacy coins to succeed we might see them regulated and forced off the exchanges.

The people who do care about their privacy and are in need of privacy focused coins will find their way to those coins no matter how strict the regulation is.
Even if Centralized exchanges delist privacy coins then there are still decentralized exchanges which the users can use to buy/sell privacy coins.
Since decentralized exchanges cannot be regulated by the governments more number of people will shift from CEX to DEX.
With the rise of number of people in crypto community the value of decentralized exchanges will grow.

eaLiTy

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Quote from: pawanjain on September 25, 2021, 11:09:29 AM

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

In hindsight your calculation is true and i would like to see people venturing into privacy coins as well and the problem i see is that the authorities will not be happy to see that users are using these privacy based coins. The first option i see coming from the authorities when they regulate the cryptocurrency market is that, they will force the centralized exchanges to delist the privacy coins if they want to be in their legislation.

In short even though we want to see the privacy coins to succeed we might see them regulated and forced off the exchanges.

tsaroz

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We can't claim privacy coins a failure just because they are not increasing in price in the same ratio as bitcoin. Most of the coins are much lower than their all time high and if you look at the popular privacy coins, they are holding their prices in upper resistance. With the government around the world going hostile against crypto, the necessity of such privacy focused coins are ever increasing. And unlike most of other hyped coins, privacy focused coins are actually being used as a merchant payment.

electronicash

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privacy coins still are alive and traded. even the GRIN coin is still in my wallet for more than2 years already, not sure if i can even profit from it but i'm keeping it.

there is a growing privacy project that is also dedicated to privacy named NYM project which they innovate what the TOR does and juggle the hops of TOR to make it more untraceable. Nym is in Binance Incubator program. maybe this will interest you to buy the NYM token too. https://nymtech.net/

RokokGudangGaram

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Quote from: pawanjain on September 25, 2021, 11:09:29 AM

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

This indeed true. People are different when it comes to their preferences even towards this thing, and considering that the number of cryptocurrency users are not yet that significant to even impact the growth of privacy coins, I also think that this coin is meant to fail. It would be just a matter of more people adopting the use of privacy coins and its development as a currency.

pawanjain

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I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

gwdf1

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Quote from: ?? on ??

With the national regulatory policy, privacy currency will be paid more and more attention.

Actually yes, I agree with you. Now people don't care about privacy very much, but maybe if crypto becomes more regulated, people will want to use private coins more actively. On the other hand, I am sure that authorities are not in favour of such coins, so they can just ban those exchanges that will offer them, so that people even can't use them.

bitcon

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You are right that there are so many people who care about privacy what we see from Monero's low daily. There is a hype around NFT and Defi-projects now, so their native tokens are more likely to be successful now than any other types of tokens.
What is more, I don't think that there is an obligatory must for those who want to be anonymous to use private coins as privacy is a feature that can be added to already existing currencies.

You even can get privacy using Bitcoin if you use Tornado cash!

Abiky

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Quote from: RussianEnglishTranslation on September 21, 2021, 01:18:52 AM

Privacy by default cryptos like Monero will be banned, optional privacy cryptos like zcash and 0xMonero will not be banned. We have seen this based on the fact that Monero has been removed from most major exchanges, while zcash has not been.

Exactly. Only cryptocurrencies with optional privacy will survive in the long run. I'm pretty sure centralized exchanges will prevent users from accessing the underlying coin's privacy features in order to comply with KYC/AML laws. After all, they don't want to lose their business by a full government crackdown.

I'm afraid Monero will continue to face skepticism from centralized exchanges due to the way it was designed. Expect to see constant de-listings until Monero is only traded through decentralized exchanges or in-person. What matters is decentralization and censorship-resistance. As long as people can achieve privacy through crypto, there should be nothing to worry about. Just my thoughts Grin

tvplus006

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I think that the time has not yet come when confidential coins will be in demand for mass use. In order for this to happen, the cryptocurrency must be regulated by the governments of various countries, which in turn should drive traders into a corner from which there will be one exit to fiat by using confidential coins.

bixiiMaphi321

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This won't be right or wrong, as each cryptocurrency has its own private use cases
While a number of possible methods exist to increase privacy for Bitcoin, including peer-to-peer transactions, though many crypto assets focus on privacy more directly through their technology. Some familiar security assets in the crypto space include Monero (XMR), Zcash (ZEC, Verge (XVG), Beam, and Grin. Dash is also on the list because it allows for additional anonymity by default. Although technically, the coin is not classified as a security asset.
Right now people don't care about privacy coins like Monero, Zcash, Dash, Verge, Beam, Horizen. They want to make money, not to regain their stolen rights.
There will come a time when privacy will be taken care of. It's all about timing - trends change and, unfortunately, privacy is at an all-time low on a global scale.

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jr. member

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Privacy by default cryptos like Monero will be banned, optional privacy cryptos like zcash and 0xMonero will not be banned. We have seen this based on the fact that Monero has been removed from most major exchanges, while zcash has not been.

cryptobrzy

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Privacy coins should be one of the best type of cryptocurrencies in the market, because if the anonymity the cryptocurrency stand for. Privacy coins haven't seen much success in the market because they dont offer exciting much apart from privacy. Most users love innovative projects that have the potential to make them money and if privacy coins like monero etc want to enjoy a considerable success in the market, then there have to be some integrations with other types of projects like Defi, NFT etc

Cryptosimar

newbie

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Indeed, I think the right protection coin could in any case succeed and be adequate.

Straightforwardness doesn't really mean absence of protection. Clients private stuff could be shrouded yet their exercises ought to be straightforward once they communicating with general society. immutablity and being unknown (esp in broad daylight) will in any case be significant for this situation

Abiky

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Quote from: 20kevin20 on September 17, 2021, 10:54:57 AM

The time will come when privacy will be looked after. It's all about time - trends change, and unfortunately privacy is on a likely All-Time Low at a global scale. Right now, people don't care. They want to make money, not to earn their stolen rights back. That's likely because these things don't affect them, their lives or their family directly yet.

With surveillance and control measures launched almost worldwide in the last few years, with all the attempts of governments to end E2E encryption and especially with the virus, I think it's gonna turn in the end one single way: all roads will lead to Monero. Just my opinion tho. Privacy is still undervalued and how authoritarian some governments are starting to turn is concering to say the least.

People don't care about privacy because they have nothing to hide. Things could change in the future once governments ramp up their surveillance efforts. Blockchain and AI will be an integral part of a highly-surveilled system controlled by governments and central banks alike. Every transaction you make with a CBDC will be highly visible to said entities. Privacy coins would be the only solution available to help tackle governments' efforts on spying over people's lives. I think there's a chance Monero will gain traction after this happens. It may not be traded across centralized exchanges anymore, but people can still access it through other means. What matters is decentralization and censorship-resistance. As long as Monero stays true to its roots, nothing will be able to stop it. Just my thoughts Grin

cryptomaniac_xxx

hero member

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I wouldn't call it's destined to failure. But maybe crypto people specially those who are beginners didn't know what privacy is, or how important it is. They just invest on crypto that will give them the most profit, simply as that.

And with privacy coins, not giving good profits for them, then will shy away and look for other coins. But those who valued their privacy more, will definitely have some privacy coins stuck somewhere.

shinratensei_

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Quote from: Abiky on September 17, 2021, 10:40:56 AM

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

Yes i do. The privacy coin will be a failure or at least there might become one that still exists in the market. These days people didn't care about that. Even dapps can be sued by the regulators. People will save themselves rather than being jailed by the regulators. did you see what happened with uniswap, idex? These dex were facing problems with regulators. That also reminds me of etherdelta as well.
Privacy coin will be only very useful for the p2p transaction. CEX must follow the orders by the regulators and this will be forcing people to complete KYC verification to be able to access all of the features.
People have been leaving from the privacy coin started since a few years ago.

livingfree

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Even there's a FATF pressure to delist most of the privacy coins in the exchanges that they can talk with, it doesn't mean that privacy coins are going to be a failure.

Not for those established privacy coins like Monero. They can still thrive since there's already a community that supports it.

Silver80

full member

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Quote from: Abiky on September 17, 2021, 10:40:56 AM

Cryptocurrencies with a transparent blockchain ledger have seen an exponential increase in demand as people join the craze. Coins with smart contract functionalities and Bitcoin are soaring towards new All-time-highs. But the same cannot be said about privacy coins like Monero, Zcash, Grin, Dash, and BEAM. It seems that innovation and mainstream demand for privacy-oriented cryptocurrencies have declined for the past years.

Nowadays, it's all about NFTs and "De-Fi" leaving privacy behind in the dust. If you take a good look at the market, you'll notice that there hasn't been a new privacy coin for quite some time. New coins and tokens are usually built on existing blockchains with a transparent ledger or one from scratch without any privacy features whatsoever. If this keeps up, privacy on crypto might become extinct. The more centralized exchanges de-list privacy coins, the less their public exposure will be. Governments may have succeeded in destroying privacy coins altogether.

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

it has nothing to do with the government, this is solely due to trends and market demand, they can change and come back with new faces, so the old ones will also have an effect, just like the old fashion comes back with a new look.

vv181

legendary

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Every cryptocurrency has its own use cases. We can't force to pressure all the privacy-oriented coins to support defi or NFT, It does not mean it will become obsolete and fail. The cryptocurrencies that preserve privacy and/or anonymity will last long, cause it deemed there will be some people that will be looking for it, even if the users are not the mainstream.

It is absurd to think that it is destined to fail by the markets or the governments. We are also still not yet in the phase whereas the majority of the exchanges will delist it. After all, Monero itself, if I'm not mistaken are developing atomic swaps and decentralized exchange based on it.

flip4flop

full member

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DeFi is all the rage right now but when regulation comes in and smacks them we will likely see another shift into something new. Maybe that is making NFTs even more popular or maybe it goes back to privacy coins with all the regulation and government involvement it's possible we see a move back into privacy coins.

avikz

legendary

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First of all, why we need privacy coins in existence- there is one simple answer to it! To hide the source and trail of money! As simple as that! Otherwise when we have around 5000 crypto coins in the market with almost every functionality, why would there be a need to have a coin that emphasizes on privacy! Just think about it.

I personally don't think privacy coins will be extinct ever. Because a certain group of people will still want to use that. But it's market response will become limited as well. Time will tell if they are destined to fail or not, but I think it will alway remain appealing to a certain group of people who loves to protect theyr privacy at all costs!

devil2man

member

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privacy has been underestimated lately in favor of the profit or the health of the community, but there are people like me who care a lot about their privacy which does not mean doing anything illegal, even if there are many exchanges that are delisting the most part of the privacy coins, as long as at least the main privacy altcoin monero is required,have market,it will survive

Ucy

sr. member

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Well, I think the right privacy coin could still succeed and be acceptable.
Transparency doesn't necessarily mean lack of privacy. Users private stuff could be cloaked but their activities should be transparent once they interacting with the public. immutablity and being anonymous (esp in public) will still be important in this case

20kevin20

legendary

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The time will come when privacy will be looked after. It's all about time - trends change, and unfortunately privacy is on a likely All-Time Low at a global scale. Right now, people don't care. They want to make money, not to earn their stolen rights back. That's likely because these things don't affect them, their lives or their family directly yet.

With surveillance and control measures launched almost worldwide in the last few years, with all the attempts of governments to end E2E encryption and especially with the virus, I think it's gonna turn in the end one single way: all roads will lead to Monero. Just my opinion tho. Privacy is still undervalued and how authoritarian some governments are starting to turn is concering to say the least.

Abiky

legendary

Activity: 3220

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www.Crypto.Games: Multiple coins, multiple games

Cryptocurrencies with a transparent blockchain ledger have seen an exponential increase in demand as people join the craze. Coins with smart contract functionalities and Bitcoin are soaring towards new All-time-highs. But the same cannot be said about privacy coins like Monero, Zcash, Grin, Dash, and BEAM. It seems that innovation and mainstream demand for privacy-oriented cryptocurrencies have declined for the past years.

Nowadays, it's all about NFTs and "De-Fi" leaving privacy behind in the dust. If you take a good look at the market, you'll notice that there hasn't been a new privacy coin for quite some time. New coins and tokens are usually built on existing blockchains with a transparent ledger or one from scratch without any privacy features whatsoever. If this keeps up, privacy on crypto might become extinct. The more centralized exchanges de-list privacy coins, the less their public exposure will be. Governments may have succeeded in destroying privacy coins altogether.

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

Topic: Are privacy coins destined to failure? (Read 411 times)