Bittrex delisting XMR, ZEC and DASH | Bitcointalksearch.org

virasog

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Quote from: qwizzie on January 10, 2021, 07:11:54 AM

Dash just gained +35.4% in price, somehow i think Dash will survive this Bittrex delisting Roll Eyes

Sometimes i think that all the privacy altcoins will not lose their value in long term because they have a lot of scope in the dark web and in many cases people want to use privacy coins so that no one can trace the transactions. Delisting them might drop their prices for the time being but it will be temporary dip in prices.

Legasches

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Quote from: RussianEnglishTranslation on January 10, 2021, 03:01:39 AM

I sold my Monero for 0xMonero

LOL.. seriously? You are saying that you sold your XMR (which happens to be one of the most established altcoins, figuring in the top 20 list from Coinmarketcap) to purchase some unknown shitcoin which is having a 24-hour volume of around $500? Even XMR has faced a lot of issues as far as liquidity is concerned. And what are you going to do with 0XMR, which isn't even listed in any of the major exchanges?

It looks like some kind of unfortunate 0XMR shilling...

qwizzie

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Dash just gained +35.4% in price, somehow i think Dash will survive this Bittrex delisting Roll Eyes

Dash price trend movement (daily) :

Source : https://cryptowat.ch/charts/BINANCE:DASH-USDT?period=1d

Dash price trend movement (monthly) :

Source : https://www.tradingview.com/chart/z3IO0qvH/

Not to mention this :

Quote from: xkcdd on January 10, 2021, 05:39:30 AM

A major announcement for DASH is coming at the end of the month rumoured to be inclusion into the Grayscale Trust as a new insitutional investment vehicle to allow the Wall St. fat cats easy access to accumulate DASH.

If true that would be amazing news and just what Dash needs.

FIFA worldcup

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Quote from: RussianEnglishTranslation on January 10, 2021, 03:01:39 AM

I sold my Monero for 0xMonero

I didn't understand this ? What is 0xMonero ?
XMR will not lose its value because its a privacy coin. Even though the exchanges will delist it but it will still be widely used in black market.

Ziskinberg

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Quote from: Febo on January 09, 2021, 08:26:34 PM

I see a lot of funny posts.
Centralised exchange are not dangerous to any coins but only to its users. To minimise that risk you need to be sure they are not scammers before you deposit coins to them and as fast as possible after you trade your coins to withdraw them to your wallet. Centralised exchanges are of same use to privacy coins and to surveillance coins. There is no difference.
One thing I totally agree. Privacy coins are not dependant on centralised or any exchanges. Since they have clear use case. Their use case is not just to be traded on exchanges but to be used in commerce.

But if there's a demand, people would trade these coins or tokens. They have a decent volume and it's still volatile, so judging that, it means people are trading it and exchanges are making money from it.

RussianEnglishTranslation

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I sold my Monero for 0xMonero

Legasches

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Quote from: Febo on January 09, 2021, 08:26:34 PM

I see a lot of funny posts.
Centralised exchange are not dangerous to any coins but only to its users. To minimise that risk you need to be sure they are not scammers before you deposit coins to them and as fast as possible after you trade your coins to withdraw them to your wallet. Centralised exchanges are of same use to privacy coins and to surveillance coins. There is no difference.
One thing I totally agree. Privacy coins are not dependant on centralised or any exchanges. Since they have clear use case. Their use case is not just to be traded on exchanges but to be used in commerce.

Anonymous coins do not depend on any exchanges. But their price is formed on these exchanges as well. therefore the exclusion of these coins from the exchanges will most likely lead to a decrease in value.. Embarrassed

Febo

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I see a lot of funny posts.
Centralised exchange are not dangerous to any coins but only to its users. To minimise that risk you need to be sure they are not scammers before you deposit coins to them and as fast as possible after you trade your coins to withdraw them to your wallet. Centralised exchanges are of same use to privacy coins and to surveillance coins. There is no difference.
One thing I totally agree. Privacy coins are not dependant on centralised or any exchanges. Since they have clear use case. Their use case is not just to be traded on exchanges but to be used in commerce.

Billo_

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Quote from: imstillthebest on January 03, 2021, 08:29:55 PM

Quote from: Billo_ on January 03, 2021, 08:03:31 PM

It is a very huge blow to privacy coins, but privacy coins don't need centralized exchanges to survive.
A privacy coin should provide privacy and buying a privacy coin on a centralized exchange is not how it works.

It is only bad for price. Privacy coins need to develop better concepts to be bought or sold on DEX.

what concept they need to add ?

Independance from centralized exchange. Uniswap, for example, is trading legitly coins based on ETH currently. If privacy coins can be issued on decentralized exchange broadly, centralized exchange won't matter anymore for privacy coin. Privacy coin and exchange has never been good deal.

Quote from: imstillthebest on January 03, 2021, 08:29:55 PM

privacy coins do always have a special place on decentralized exchanges if ever all centralized exchanges delisted them with or without the need for a new concept . dex is where they really belong not on cex but you know the cryptoers today they value the cex market more than the dex

A very true statement. Decentralized exchange is king.

qwizzie

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Quote from: Welsh on January 08, 2021, 06:09:31 PM

Quote from: qwizzie on January 05, 2021, 12:15:47 PM

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

This is interesting, what's the general consensus on the reason it was removed?

https://twitter.com/RTaylor05/status/1345158205685436416

Welsh

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Quote from: mu_enrico on January 05, 2021, 12:26:19 PM

I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

Not all governments, but it seems western countries in particular America, and UK are particularly fond of putting pressure on businesses to adopt KYC, and this likely wasn't a decision that Bittrex would have chose without being pressured by that ruling. After all, I suspect that they'll lose a decent portion of customers because of this decision.

Quote from: ahoenk on January 06, 2021, 11:26:21 AM

We are now start to lose to regulation, the reason privacy coin going to be delist from exchanges in the us because they can track the asset so there is possibilities to become money laundry tools, and also the most important thing is they can not tax the owner of coin. But the exchange outside US is still safe from this thread.

Rather than losing the war to regulation, you'll likely see more P2P decentralized exchanges which won't stick to KYC as much as companies are forced to do.

Quote from: qwizzie on January 05, 2021, 12:15:47 PM

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

This is interesting, what's the general consensus on the reason it was removed?

ahoenk

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We are now start to lose to regulation, the reason privacy coin going to be delist from exchanges in the us because they can track the asset so there is possibilities to become money laundry tools, and also the most important thing is they can not tax the owner of coin. But the exchange outside US is still safe from this thread.

Renampun

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Quote from: mu_enrico on January 05, 2021, 12:26:19 PM

I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

right, as usual, the government wants everything under their control...
This is a weakness of CEX, where government regulations are still the determinant of the future. Bittrex is afraid their business will not be safe if it continues to allow anon-coins to be on their exchange. *delisting will only bring down their exchange users.

mu_enrico

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I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

qwizzie

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Quote from: oprahwindfury on January 05, 2021, 11:23:53 AM

It is required since Bittrex needed to follow the rules of SEC. I think it is insightful for them to act one stride ahead before an issue happen. Mysterious coin had been in a tight spot and since SEC had given an illustration of suing XRP.

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

oprahwindfury

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It is required since Bittrex needed to follow the rules of SEC. I think it is insightful for them to act one stride ahead before an issue happen. Mysterious coin had been in a tight spot and since SEC had given an illustration of suing XRP.

qwizzie

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Quote from: poodle63 on January 04, 2021, 04:02:32 AM

They are based in US and I assuming that everyone would expect this to happen after all the fuss about the US government considers these privacy coins as a problem.
I wonder what's gonna happen to all the exchanges outside the US but I think in the future all the US citizens will be forbidden from using such privacy coins by the US based exchange. Gonna be a tough time for these privacy coins I guess.

All exchanges outside the US I don't think will bother with privacy coins, for example Binance is not concerned with privacy coins and Binance is not delisting privacy coins,
If I look at it, it's time for privacy coins to upgrade the network, like XCASH coin, XCASH network offers both privacy and public so it is more flexible when compared to other privacy coins.

As does Dash, remember Dash is a fork from Bitcoin so it too has a public viewable blockchain and provide optional privacy on its transactions if users choose for that.

With Bitcoin that optional privacy happens through Bitcoin Privacy wallets, that connect to Tor and create CoinJoin transactions on the Bitcoin network
With Dash that optional privacy happens inside the Dash Core wallet, that create CoinJoin transactions on the Dash network (Dash just calls those PrivateSend transactions)

With Dash those CoinJoin / PrivateSend transactions are currently between 1-3 % of all transactions (there rest are all public transactions, fully tracable)
Source : https://dashradar.com/charts

With Bitcoin those CoinJoin transactions were 4% of all transactions in 2019 (there rest were all public transactions, fully tracable)
Source : https://bitcoinmagazine.com/articles/percentage-coinjoin-bitcoin-transactions-triples-over-past-year#

Difficult to regard Dash as a privacy coin, when Dash has less CoinJoin type transactions on its network then Bitcoin (assuming that CoinJoin usage on the Bitcoin network
has grown since 2019, which is not unreasonable to think with the popularity of Bitcoin's Privacy wallets, like the Wasabi privacy wallet).

Bitcoin CoinJoin transactions will likely grow even more, when scaling solutions like these get implemented : https://www.coindesk.com/statechains-scaling-solution-new-potential-bitcoin-privacy

poodle63

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Quote from: kapalmabur on January 03, 2021, 06:50:05 PM

I really do not understand what underlies them delisting top altcoin motivation such as XMR, Dash, and Zec, of course this is a heavy blow to the community or altcoin holders, even though many exchanges are still listing privacy coins, bittrex does not give reasons, and this makes people angry

The reason is there. Bittrex is afraid of the US government taking whatever action against these privacy coins. It's obvious that bittrex is trying to comply with the government and probably just waiting for the right time to decide whether to list it again or not.
There's reason why trading in bittrex is so complicated and requires so many things to be completed thats because they are based in the US and the US government dont like privacy coins. heck even in google if you search "bittrex" there's saying bittrex follows american law very closely.

care2yak

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We’re headed to a world where privacy will no longer be legal... 🙄

coindefi

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Wouldn't be a news anymore.Following the delisting of xrp, and now this. I wonder what the users and holders of these coins are feeling now...Just a thought. Huh

Topic: Bittrex delisting XMR, ZEC and DASH (Read 887 times)