Topic: Bittrex delisting XMR, ZEC and DASH (Read 868 times)

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.

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

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





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 :


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

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.

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.

I sold my Monero for 0xMonero

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..

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.

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.


A very true statement. Decentralized exchange is king.

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

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.

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.

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

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.

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.

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.

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.

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.

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

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.

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

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.

Big coins delisting on Bittrex, some time we don't know why bigger coin can delisting on exchange market without get any trouble before, I can accept like RIPPLE delisting because investigate by SEC but how come XMR, ZEC and DASH could delist with get any problem from exchange and owner coin, maybe for the future have good contract management between bittrex and owner coin without have illegal issues or bad news from coin never have way for delisting coin on exchange market.

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.

Monero can be tracked, blacklisted, and delisted, 0xMonero is traded on decentralized exchanges and cannot be delisted.

what concept they need to add  ?

privacy is already the main concept of those coins but why not ? adding more concept to the existing coins can make them more catchy and if it gets noticed , the coins value can recover  .

 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

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.

Bittrex delisting such famous coins may be for several reasons, which we do not know why, because we are just outsiders who know
nothing about what is happening in Bittrex management. But I don’t feel worried because in many  exchanges  Dash, XMR  and ZEC
it still lists coins, so for those who want to trade those coins can do so on other exchanges.

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

Bittrex is slowly getting into trouble in terms of profitability due to regulations, for the reason that they are strictly complying, it has affected the reputation of the site and its profitability. it will not affect much the value of the coins because bittrex is not a giant anymore in the market unlike before, so this is a normal news, everything should have seen this coming.

While they delisted these assets, other exchanges will benefit from this, that's the only scenario I see.

I'm a little familiar with this problem that Dash has. But despite such a long time that has passed since delisting Dash, the problem is not solved. But I believe that Dash now has more potential to recover in price after the delisting message than XMR and ZEC.

In the US, the SEC and tax agency dont take everything that have to do with crypto easy and every exchange that cant comply with their rules/regulations have to quit their operations. Binance went through alot before Binance.us was able to operate in the US.

Some people consider this to be bad for the delisted privacy coin/ Bittrex but thats not the situation. However, Bittrex not the top choice of the crypto community and it only use by some US customers so no reputation will be worse.

Thats what will happen and they have no choice since they are CEX.

even if I'm not mistaken I also heard the BinanceUS platform is planning to suspend Xrp from its list. but that applies to the next 13 January. I think since the SEC and XRP cases it has had an impact on other privacy coins as well. looks like this is the end of the privacy coin, especially Xrp.

I assume that this tendency will continue with delisting anonymous coins. The big exchnage are forced to play this game, otherwise they get problems. It's just unbelievable, 2-3 years ago I couldn't imagine something like that, and today it's standard.

With regards to Dash being banned on exchanges in Japan : https://app.dashnexus.org/proposals/listing-dash-in-japan/updates
It is a long process trying to get through to the regulators there and change their perception about Dash, but hopefully one day Dash succeeds there and gets enlisted again.

We have already seen how XMR, ZEC and DASH were banned on exchanges in Japan and South Korea in 2018. Over time, the price of these coins stabilized, while trading was transferred to other exchanges. The same thing should happen now, the price of the coin should return to its previous values.

After this announcement from Bittrex delisting XMR, ZEC and DASH price third coins dump but now have recovery and wake up again to higher price, some time I think this trick way did by developer to make people sell coin after bad news delisting from Bittrex, so they got moment waiting with lower price and buy again, then we know what developer did after buying coin, they will give good information from his coin and price back higher.

It does not matter if the exchange is within the US or outside the US. They will come out for the global regulations and all the exchanges will have to comply with them. They may reach out to the governments if any exchange outside US does not fulfil the requirements imposed by sec. 2021 will be the year of regulations and exchanges will have to rethink how they going to operate.

This is bad news for privacy coins supporter, like Bittrex doing this because of pressure from the SEC. As we know, the US government
has long been concerned about the existence of privacy coins, which are widely used for illegal activities. That's why Bittrex is looking to
secure it by delisting its privacy coins, hopefully this will only happen for exchanges based in the US. Since I am not a user of exchanges
based in US, I am not affected by the delisting privacy coins by Bittrex.

I think they're looking for a safe way to close the loophole with the SEC,,chances are they don't want to get into trouble with the SEC and they're taking steps to remove the DASH coin ,ZEC ,XMR.
It's about regulation in U.S. countries and impacting the rest of world,we know they're based in the U.S. and very close to SEC oversight,they have regulatory and compliance issues,,
I think such a move could have a devastating impact on DASH, ZEC, XMR coins like XRP coins.

It was quite expected, genuinely. I expect security centered coins to go off-lattice surprisingly fast all things considered. In any case, then, security will turn out to be increasingly more pursued.

Being controlled by the us laws is not ver convenient. Those coins have been a part of crypto world for a long time. Delisting only makes reputation of bittrex getting worse. But thats all they can do. If they do not comply the regulations, they will be forced to shut down the whole operations.

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.

I can't even remember when last I used bittrex as exchange again, unlike before there popularity has dropped drastically over the past years,  I don't think this action will have such huge impact.

It is expected since Bittrex wanted to follow the guidelines of SEC.  I think it is wise for them to act one step ahead before a problem occur.  Anonymous coin had been on the hot seat and now that SEC had given an example of suing XRP (which is not an anon coin) Bittrex probably think that XMR, ZEC and DASH would be next or probably they have insider to inform them about the next step of SEC.

It may be quite a blow for the HOLDers of these coins, but it depends what will happen next and if others will follow the trend shortly.
Since it's not the first time anonymous coins got delisted and they still did pretty much recovered, it may just be a good opportunity to buy the dip.

The news would have been a great opportunity for me to short any of the coins in the futures trading option on Binance 
That being said, I think it's going to be a trend that most exchanges that are trying to comply with AML laws with follow. This is bad news for the privacy oriented coins.

This is not surprising, because bittrex is US based and must comply with the law there. the possible reason why they delist it in their exchange is that they do not want to have a problem in the future ,and we know that anonymous coins can be used for money laundering. so getting rid of it will benefit their exchange and thats not the only exchange need to follow ,other us exchanging should also do the same.

On January 15, anonymous coins XMR, ZEC, and DASH will be delisting with Bittrex exchange: https://twitter.com/BittrexExchange/status/1345056010981892096. The market has already reacted to this news by reducing the value of these coins.

"After the markets are removed, Bittrex generally seeks to provide users up to 30 days to withdraw any delisted tokens, but in certain instances the withdrawal period may be shortened. Users should withdraw any tokens before the posted withdrawal deadline". https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

How do you feel about the news that Bittrex has prepared for us on January 1, 2021?