Topic: Bittrex delisting XMR, ZEC and DASH - page 3. (Read 869 times)

Decentralized exchanges (DEX) i guess, but the liquidity is just very low there and the fees very high.

Link : https://coinmarketcap.com/rankings/exchanges/dex/

The good exchanges are currently those large international operating exchanges that have a competent compliance department that understand the coins they have listed
and understand the regulation that is applicable to their exchange and their crypto listing (Kraken, Binance, Coinbase, Bitfinex etc)

It is the smaller centralized exchanges that are feeling unsure about the (mostly US) regulation and rather then putting time and money into setting up
internal monitoring tools, so they as exchange comply with FATF regulation (travel rule) and US-specific regulation, they rather just delist certain coins.

ShapeShift and Bittrex are examples of those smaller centralized exchanges / service providers that operate in such a bad manner.
Also to consider is how regulation differ between the US and the European Union. The EU Court of Justice prohibited the FATF travel rule in Europe because it
undermines the privacy of European citizens. They basically banned it in the EU. Same with the Privacy Shield, an privacy agreement between the US and the EU.
The EU Court of Justice invalidated that treaty in July 2020.

European exchanges operating in Europe have in general more relaxed crypto regulation, then US exchanges operating in the US.
Simply because in Europe privacy is valued higher and protected better, then in the US.

And what are the good exchanges?

I think Bittrex still considers Dash to be a privacy-centric coin, when in fact Dash has expanded its use cases over the years and no longer fit that label.
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
 
So i feel that Bittrex made its decision based on outdated information and based on a wrong perception of Dash, when it decided to delist Dash together with Monero and Zcash
(the last two are indeed privacy-centric coins)

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

I think that Bittrex will be followed by other American exchanges and this may temporarily further reduce the price of these coins. We have already seen this on exchanges in Japan and South Korea, where trading in anonymous cryptocurrency was completely banned in 2018.

Wrong. Privacy coins have been targeted since last year or 2019 with FATF's travel rule. Exchanges in Korea and also Shapeshift have delisted them before Bittrex did for the same reasons.

How will it end the bull run when it's bitcoin that's leading the charge and these privacy coins are only riding on its back? The regulations may look bad if you look at it from maybe an ethical point of view but it still helped pump the price. Institutional investors prefer more regulations as they feel "safer' with their investments.

What happen with Bittrex have delisted many good coin, does they wanna get more profitable without responsibility with how much fees paid by XMR, ZEC and DASH when listing on Bittrex, I think if third coin still active and have good price without get problem like RIPPLE they should ask fees back from Bittrex because have delisted their coin, how ever without mistake Bittrex can't delist any coin from their exchange trading.

Regulation and SEC is why bittrex delist these privacy coins, every exchanges in america will at one point in time do the same thing, anyways I'm just glad that there are many crypto exchanges that are outside US if not the end result won't be a good one

They have regulatory and compliance issues. Since xrp has SEC issues and will be delisted on other exchanges, this delisted other coins will have a bad effect on their price as you can see it fell down. Bittrex just wanted to prevent complex issues any time since these privacy coins have been used for other purposes that may conflict regulations.

Bittrex is still a big company and one of the ogs of exchanges. That's why having a problem against the SEC or any government agency that could give them a lawsuit just like what SEC did to XRP will badly affected them.
It's an early act on them and they will make sure that no problem will be dealt by them in this new year. These privacy coins even if some exchanges will delist it, it cannot be gone and it's economy will stay.

Another proof that puts us ahead of the reality, the US isn't into crypto for the decentralization. USA has alot Bitcoins and altcoins gathered from Hackers, they own these assets and the amounts aren't low. Trust me they pump things the way the want and they cause dumps, we ain't in the decentralization era yet, wait till the market gets more and more strong, we'll see great days then.

I just wondering why many altcoins have been removed by US base exchanges now, is the US government making hate low valued crypto? Or this just how these exchanges setting for a requirement to stay on them?

XRP has SEC issues but these coins (XMR, ZEC, and DASH), they are on the market for quite a long time and many people are investing in these coins. I'm not sure what is happening now to US base exchanges, honestly. Or I miss something?

Binance has made it difficult for exchanges to compete with it. It is difficult to compare the security of the exchanges but transaction fee and easy of binance exchange has always been improved both for mobile app and website. All the 3 Coins to be delisted have quite a good volume of trade for any pair on the exchange, which is a pointer to SEC regulation. It could be a means to reduce coins in this market that had failed the regulation in the past.

soon will arrive Executive Order 6102 for crypto.

When the biggest government will say that we cannot have crypto except on exchanges or on the wallet or the government on the keys.
Or the identified addresses and the use of the new change address will be prohibited ( OR use BIP39 like). Fungibility will be the only solution.

Although I am not that interested in privacy coin, this news has caught my attention because this Coin has considerable appeal in every market.  At the end of this year there are two big news that happened to the top Coin, the first experienced by XRP which resulted in a decline in prices and the second happened to Coin DASH, ZEC XMR which will be deleted on bittrex exchange, the SEC has destroyed a part of the crypto industry.  DASH, ZEC, XMR will fall like coin XRP.

It was pretty expected, honestly. I expect privacy-focused coins to go off-grid in a matter of years at most. But meanwhile, privacy is going to become more and more sought after.

Besides pure trading, I don't see the reason why Monero or other privacy-focused coins would be placed on non-anonymous exchanges anyway. Like, if privacy is an issue for you, just avoid exchanges that don't go in line with your expectations. There are plenty of alternatives nowadays.

As far as I can remember, some of the exchanges way back specially from South Korea has delisted Monero and some privacy coins already. So I would say that I'm not surprised though with this move from Bittrex, we all know that there are regulatory body that doesn't like privacy coins so maybe there are pressures on this exchanges like Bittrex to delisted them. Not saying that there could be others that are going to follow, but I would assume that there is. Specially Monero, governments even open up a bounty to create a software that will de-anonymized those transactions.

Last time I used them was before they shut down my account because I refused to do KYC.

Bittrex is one of the most corrupt exchanges. They will close your account if they want to and not allow you to withdraw your coins. They do what they want. Don't hold your coins there or you'll be sorry.

It's good that bad centralized exchanges are delisting coins. The more they remove the more clients will leave the exchanges.

Yes, maybe they are just taking action before SEC will take action on them. But really surprising about these privacy coins especially XMR. But definitely, these coins can still get their market because they have been in this industry for so long and they are serving real purpose for those users who want privacy.

Not only bitterex but also Binance Australia will remove these altcoins in the coming hours and i dont know why this happened now exactly .
first ripple and now zec , dash .. i personally suprised by this news because no one of us expected it , also the price got a great lose dumping by more than 15% in both currencies , i hope this wont jump to usdt as well ..

Those privacy coins are likely to be listed almost everywhere. We've seen that news first in some exchanges on South Korea when they've delisted first XMR.
And with the compliance and strong act made by SEC, it has been noticed by US based exchanges and they have to act as early as they can before SEC gets an eye on them.