Topic: Biggest sad news for XMR, ZEC & DASH Holder (Read 330 times)
Let their price have dropped today but this did not affect the value. I just don't like the tendency of exchanges to delist like that. I think it's a mistake to do this.
Here is the response of Ryan Taylor, CEO of Dash Core Group about Bittrex decision to delist Dash without providing a specific reason : https://twitter.com/RTaylor05/status/1345158205685436416
It is always upsetting to see that when one thing happens to one project, they start pointing fingers at other projects as well.The fact that they were delisted wouldn't have changed my idea on Dash for example, I would still love to have a dash masternode, however the fact is that he talked about litecoin and bitcoin, pointed fingers at it
He is not pointing fingers at anyone or snitching on other projects, he is simply referring to the FinCEN's PRM section that specifically mentions BTC Lightning and specifically mentions
Litecoin's adoption of mimblewimble. Which shows that FinCEN is aware of what is happening in this cryptospace.
FinCEN just seems to be unaware that Dash has been mislabeled by them as an Anonymity Enhanced Cryptocurrencies (AEC). That needs to be corrected as some exchanges apparently base their delisting action on that FinCEN labeling. If Bitcoin is not being labeled as an AEC, then neither should Dash (a fork of Bitcoin). From a regulating point of view, there is simply no difference between Dash and Bitcoin.
If privacy coins are useless they should be dead by now, I believe delisting can't affect the performance of these coins because of their use cases, they just need to find a better home and that I guess is DEX platforms, I don't use privacy coins for their purpose but I do invest in them to make more money but there are many real users out there
This isn't even close to sad news, all these privacy coins are listed on so many exchanges, they are different from some new projects that are listed on 3 to 5 different exchanges, bittrex users only need to adjust and move to other available exchange, its that easy don't you think
Here is the response of Ryan Taylor, CEO of Dash Core Group about Bittrex decision to delist Dash without providing a specific reason : https://twitter.com/RTaylor05/status/1345158205685436416
It is always upsetting to see that when one thing happens to one project, they start pointing fingers at other projects as well.The fact that they were delisted wouldn't have changed my idea on Dash for example, I would still love to have a dash masternode, however the fact is that he talked about litecoin and bitcoin, pointed fingers at it, and 100% guarantee you if he did this on twitter, he definitely showed government what they should be looking into as well. That type of snitching on other projects is the reason these type of cryptos should die, I as a person who liked dash just a day ago, now think and hope that Dash would be destroyed so bad that it would not worth even 1 cent, the only reason for it is the fact that CEO tried to take down other coins in order to save his own and that is not something you do in the crypto world.
Monero, ZCash and DASH investors don't deserve this decision. CoinBase can take a similar decision.
There is a war against other cryptocurrencies but Bitcoin has passed $ 30000. These news are making Bitcoin stronger
There is a war against other cryptocurrencies but Bitcoin has passed $ 30000. These news are making Bitcoin stronger
Here is the response of Ryan Taylor, CEO of Dash Core Group about Bittrex decision to delist Dash without providing a specific reason : https://twitter.com/RTaylor05/status/1345158205685436416
The three cryptocurrencies of XMR, ZEC and DASH seem to be mainly privacy cryptocurrencies. As the U.S. market becomes more and more regulated, I think this type of cryptocurrency is indeed susceptible to penalties by regulators, so the exchange removed them all. I don't know if it will be delisted from other US exchanges.
it is likely that it will be removed from other US buras. It is very concerning that this case originated with the XRP company and has an impact on other privacy coins such as XMR, DASH & ZEC. I think this is one of the big history in cryptoqurrency space about XRP and also from day to day XRP has experienced a drastic decline. The three cryptocurrencies of XMR, ZEC and DASH seem to be mainly privacy cryptocurrencies.
Not Dash.
Dash used to be a privacy-centric coin in 2014/2015 when it introduced its optional privacy feature, but has since then focused on payments by making them instant, secure, protected
against double spending and instantly spendable by receivers.
Now Dash is focusing more to function as a decentralized platform where developers can create Dapps and store their Dapps data directly on the masternodes network (kinda like cloud storage) and making transactions far more user-friendly by introducing blockchain identities, blockchain usernames, paying to blockchain usernames, introducing a decentralized API.
Dash announces new update, social payment wallet enters testnet
https://cointelegraph.com/news/dash-announces-new-update-social-payment-wallet-enters-testnet
Source picture : from above article
Credits : tungfa on DashPay Reddit
Dash Launches Public Alpha for Social Payments Wallet
https://bitcoinist.com/dash-launches-public-alpha-for-social-payments-wallet/
Source picture : from above article
Dash Platform and the DashPay Dapp are currently live on Dash Testnet and are scheduled for release on Dash Mainnet in Q1, 2021
DashPay Dapp demo : https://www.youtube.com/watch?v=GtTaezpxQOs & https://www.youtube.com/watch?v=vw2CrHyQMVI
What do you think is coinbase also take the same decision?
This would be bad for the value of the coins if coinbase did the same thing. Even for a large project when affected by such news, the price will change dramatically,i think that in the coming time there will be relatively large corrections in the market, and that will be an opportunity next to buy and hold potential coins.especially on privacy coins like XRP will be hit hard as we see that Xrp is facing serious issues with the SEC. there is even news that some exchanges have removed XRp from their list such as Coinbase and Okcoin.
XRP is no privacy coin. XRP is seen as a security by the SEC and they are going after Ripple. That is why exchanges in the US are delisting XRP.
Not because XRP is seen as a privacy coin.
https://www.pymnts.com/news/2020/first-court-date-set-for-sec-lawsuit-against-ripple/
Quote
The SEC complaint alleges that Ripple and two of its executives — Garlinghouse and Larsen — raised more than $1.3 billion in an unregistered securities offering of the digital coin XRP.
The SEC considers XRP a security, however, and that is where the problem sits. Ripple maintains that XRP is electronic money.
The SEC considers XRP a security, however, and that is where the problem sits. Ripple maintains that XRP is electronic money.
We have two discussions currently :
* Exchanges delisting privacy coins because they fear the uncertainty around US regulations / don't want to spend time and money setting up internal monitoring tools to comply to FATF regulation or US-specific regulation.
* Exchanges delisting crypto coins that the SEC deems as securities. They delist those crypto coins in order to protect themselves from the SEC as these crypto coins need to be registered with the SEC as securities.
What do you think is coinbase also take the same decision?
This would be bad for the value of the coins if coinbase did the same thing. Even for a large project when affected by such news, the price will change dramatically,i think that in the coming time there will be relatively large corrections in the market, and that will be an opportunity next to buy and hold potential coins.especially on privacy coins like XRP will be hit hard as we see that Xrp is facing serious issues with the SEC. there is even news that some exchanges have removed XRp from their list such as Coinbase and Okcoin.
Bitcoin and Dash both use CoinJoin (a privacy-mixing technology) on their network, Dash just calls it PrivateSend.
Bitcoin and Dash both have an open blockchain where transactions, senders and receivers on the blockchain are fully viewable and where CoinJoin mixing is optional --> see : https://www.coindesk.com/wasabi-wallet-coinjoin-design
From a legal point of view there is no difference between Bitcoin and Dash.
Will Bittrix now also delist Bitcoin ? If not now, how about when Bitcoin incorporates privacy features ? --> https://www.coindesk.com/statechains-scaling-solution-new-potential-bitcoin-privacy
Will Bittrix delist Litecoin when it incorporates privacy features ? --> https://www.coindesk.com/first-mover-privacy-litecoin-ace-hole-jpmorgan
Will Bittrix delist Ethereum when it incorporate privacy features ? --> https://www.coindesk.com/why-ethereums-privacy-matters-and-whats-being-built-to-support-it
The problem is that Dash is still associated as a privacy-centric coin, while that has not been the case for many years.
Dash used to be a privacy-centric coin in 2014/2015 when it introduced its optional privacy feature, but has since then focused on payments by making them instant, secure and protected
against double spending. There is more mixing on Bitcoin's network then on Dash's network currently. Darknet markets still prefer using Bitcoin, then using the so called 'privacy' coins.
Bitcoin and Dash both have an open blockchain where transactions, senders and receivers on the blockchain are fully viewable and where CoinJoin mixing is optional --> see : https://www.coindesk.com/wasabi-wallet-coinjoin-design
From a legal point of view there is no difference between Bitcoin and Dash.
Will Bittrix now also delist Bitcoin ? If not now, how about when Bitcoin incorporates privacy features ? --> https://www.coindesk.com/statechains-scaling-solution-new-potential-bitcoin-privacy
Will Bittrix delist Litecoin when it incorporates privacy features ? --> https://www.coindesk.com/first-mover-privacy-litecoin-ace-hole-jpmorgan
Will Bittrix delist Ethereum when it incorporate privacy features ? --> https://www.coindesk.com/why-ethereums-privacy-matters-and-whats-being-built-to-support-it
The problem is that Dash is still associated as a privacy-centric coin, while that has not been the case for many years.
Dash used to be a privacy-centric coin in 2014/2015 when it introduced its optional privacy feature, but has since then focused on payments by making them instant, secure and protected
against double spending. There is more mixing on Bitcoin's network then on Dash's network currently. Darknet markets still prefer using Bitcoin, then using the so called 'privacy' coins.
It's forth coming though, exchanges have been delisting those privacy coins, because well they are privacy coins and government wanted to track everything so it will be a cumbersome to allow them to be in the crypto space.
But I'm not saying that they will die down, just maybe the trading will slow down and will be full DEX only, or P2P.
But I'm not saying that they will die down, just maybe the trading will slow down and will be full DEX only, or P2P.
What do you think is coinbase also take the same decision?
They are compliant so if this is related to the SEC pursues cryptos that they can sue the developers, they will include exchanges that are partaking the listing of it. We have nothing to say for now and we can all wait until Coinbase's announces a new statement regarding delisting or support for the privacy coins that they still have on their platforms. Let's say that they will delist it, nothing can stop the DEXes that have support for these privacy coins.
I think all US based exchanges will face the same situation.
They can't help it, it's being forced onto them by regulation and law.
That's why DEX-es rock
They can't help it, it's being forced onto them by regulation and law.
That's why DEX-es rock
This is not the main exchange. Traders just searching a news for dump. I hope that these coins will recover
Why would they delist just because of KYC? All the while some exchanges do keep those coins listed? Is it because the exchange is not competitive enough?
The only party who can answer your question is the bittrex team itself. The team gives unclear reason about that. It sounds ridiculous to see the team was arguing KYC and AML as the reasons to delist the anonymous coins but itseems like that this thing is correlating with the latest news about US will be putting more restriction for people who have kept their money in exchange sites that didn't operated in US territory. US is trying to put more regulation on it too.
Why would they delist just because of KYC? All the while some exchanges do keep those coins listed? Is it because the exchange is not competitive enough?
The only party who can answer your question is the bittrex team itself. The team gives unclear reason about that. It sounds ridiculous to see the team was arguing KYC and AML as the reasons to delist the anonymous coins but itseems like that this thing is correlating with the latest news about US will be putting more restriction for people who have kept their money in exchange sites that didn't operated in US territory. US is trying to put more regulation on it too.
It is very sad that this coin has to fall, I used to trade on this coin but not anymore. for all holders in my opinion, immediately sell this coin before it's too late 
What coin fall? Do you know that XMR is still surging on exchanges? Do you know how many exchanges Monero is listed on? Getting delist from bittrex won't and can't stop privacy coins, it shows that they aren't supposed to be listed on Centralized exchanges from day one
Is it? Bittrex is based in the US and that's SEC territory so what do you expect? In this year we are going to see more SEC in action going after projects and also centralized exchanges that are based in the US will start delisting some coins too, aren't you prepared? Moreover coins like dash and Monero are better fitted on decentralized exchanges
It is very sad that this coin has to fall, I used to trade on this coin but not anymore. for all holders in my opinion, immediately sell this coin before it's too late
No reason whatsoever was given for delisting those coins hence one can only but imagine the extent some of these centralized exchanges can go to achieve what they want in the detriment of another, of course it doesn't matter. You listed a coin in the first place, at least you owe it to their traders and investors reasons why you are delisting them, nevertheless in my own opinion I just think they don't want privacy coins on their exchange anymore. Also, in the case of Coinbase, who knows they might follow the trend or they might not, but however I think all these sort of steps being taken by centralized exchanges will only be fanning decentralized exchanges to pick the mantle and start working harder than before. In the same way, in my own opinion, privacy coins will be hard to be wiped off, they will still be here because they serve a purpose.
So more coins getting delisted from exchanges? This is bad and shows how bad "centralization" can be. But then they are doing it in order to be in "business" by being compliant to the KYC and AML laws. Probably if they allow listing privacy coins they might not be allowed to operate anymore. I guess P2P transactions are the only way to trade the coins.
Looks like regulatory bodies are already catching up!
Looks like regulatory bodies are already catching up!
Why would they delist just because of KYC? All the while some exchanges do keep those coins listed? Is it because the exchange is not competitive enough?
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bittrex gave no reason and then that makes people started to speculate about the future of the anonymous coin. I see that there are people that said if another US exchange site gonna be delisting it. It seems like the market has been driving by the bad rumour about the privacy coins. That's why monero got -15% this day. Another exchange site that already implemented KYC and AML have no problem to deal with privacy coins.
That doesn't make sense.
That doesn't make sense.
What do you think is coinbase also take the same decision?
Possible, because coinbase is CEXs same like Bittrex they can delist a coin anytime that they want.Edit:
Found another similar thread https://bitcointalksearch.org/topic/bittrex-delisting-xmr-zec-and-dash-5305779 better to lock your topic.
Bittrex announced Friday it will be delisting monero (XMR), zcash (ZEC) and dash (DASH), continuing a trend of so-called privacy coins being delisted by cryptocurrency exchanges.
After that Shares of all three coins fell on the news: XMR is down 14.44% to $133.75, ZEC fell 12.28% to $55.76.
Confirm News source: https://www.coindesk.com/bittrex-to-delist-privacy-coins-monero-dash-and-zcash?amp=1
What do you think is coinbase also take the same decision?
After that Shares of all three coins fell on the news: XMR is down 14.44% to $133.75, ZEC fell 12.28% to $55.76.
Confirm News source: https://www.coindesk.com/bittrex-to-delist-privacy-coins-monero-dash-and-zcash?amp=1
What do you think is coinbase also take the same decision?
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