Topic: Dash says they are not a privacycoin - page 2. (Read 322 times)

Even though it is a complete U turn on their business plans and portraying themselves as the privacy coin in the past they want to survive with the increased scrutiny by the authorities and it is not a big surprise that the privacy coins will be under attack by the authorities and i was expecting them to force the exchanges to delist them for their survival and now the Dash team want to change their marketing strategy to survive, if not they will be forced to go underground and the price will be affected and team wants to avoid that.

Does Bitcoin need to remove any association with its privacy wallets to be considered not to be privacycoin ?


Source : https://media.dash.org/wp-content/uploads/Dash-PrivateSend-Legal-Position-EN.pdf

If the answer is no, then why should Dash ?

Hell, PrivateSend does not even form a problem in the European Union and there is no indication that US government agencies want to ban Anonymity Enhanced Cryptocurrencies  :



Source : https://www.dash.org/forum/threads/legal-opinion-and-regulatory-classification-for-germany-and-european-union-step-1.50201/#post-223131

The first step would be removing privat send. It is a oxymoron to have privatsend and claim not to be privacycoin.

They're looking for a safe way out of the USA crypto police by comparing themselves to bitcoin,, in fact this is very funny because they suddenly use unreasonable excuses.I'm increasingly wondering if true they're using privacy-centered coins or just nonsense with the offers they've been doing?
What is clear, that this is increasingly attractive because the price of dash in the market will change quickly because their move and will definitely affect crypto investors or those who hold their coins.

Dash views having optional privacy for users as a very important offering, not to be discarded lightly.
A few of those exchanges that previously stated to delist Dash, came back on that decision, after communication with Dash Core Group :

https://www.coindesk.com/okex-korea-reviewing-decision-to-delist-privacy-coins-zcash-and-dash
Dash still traded on OkeX Korea --> https://okex.co.kr/kr/view/exchange/full?coin=DASH&market=BTC

https://www.reddit.com/r/dashpay/comments/ikg8m9/banking_partners_happy_for_dash_and_other/  

Other exchanges proceeded with delisting Dash (exchanges in Japan, South Korea,  etc)


Source : https://www.coindesk.com/privacy-coin-advocates-crypto-exchange-delistings

Shifting the optional privacy from Dash Core wallets to third party wallets will just create trust and centralization issues. And for what ? Smaller exchanges could still continue
to delist Dash by association or because they still perceive Dash to be a privacy-centric coin or because they don't have compliance resources.

US government agencies mislabeling Dash is not helping either.

That's what happens when you falsely advertise your cryptocurrency as an attempt to bring it to the top. Says everything about their true intentions.

"First impressions last"

Dash still allow sending privately as you said in your previous comment. I wonder why they still don't discard all the privacy features. It's been like what 2 -3 years since Dash was delisted on some exchanges? Why not just let some third party create a way to send Dash coins privately the same way mixers and wallets do with BTC? Is it impossible to disable private send in Dash Core wallet or do they still want to be associated with "privacy"?

Many of these so called privacy focused coins are just some manipulative coins that gets value due to trading interest. It's hard for them to survive or thrive as a value out of centralized exchages. There would just be a few coins that would still be privacy focused and is not killed by the Global crypto police from US.

We are used to that. And no, this was not suddenly.
It is very simple :

Very strange twist of fate here, so are they saying that bitcoin should also be delisted because they have the same privacy focused coins? hehehe.

Nah, I won't invest on a project who suddenly twisted their own words just to save face and then compare themselves to bitcoin. This is not what they started, they competed with a lot of privacy coins before, now they change their whole narrative which is bad for their image and other might go to lengths to troll them.

Interesting articles :

https://blog.chainalysis.com/reports/introducing-chainalysis-investigation-compliance-support-dash-zcash
https://media.dash.org/wp-content/uploads/Dash-PrivateSend-Legal-Position-EN.pdf

Credits for the link : aleix

Although it doesn't sound good and don't make them to appear trust worthy but at the same time I think they are thinking what is best for the project and the investors, if they turned down regulation compliance they will be a target to sec and that too won't be good for the project as well.

Every project is now afraid of words "security" or "privacy". SEC rules the market

Bitcoin users requiring additional privacy on their transactions have moved from using Bitcoin Mixers to using Bitcoin privacy wallets, which connect to the anonymity network of Tor
and create CoinJoin transactions.

Source : https://www.cryptopolitan.com/privacy-wallets-their-growing-role-in-bitcoi/


Dash users requiring additional privacy on their transactions can use Coinjoin in the Dash Core wallet (its called PrivateSend), which utilize the masternodes network for that
(which all have public ip addresses by the way).

So those users seeking additional privacy on their transactions can do that both with Bitcoin and with Dash.
With Bitcoin the privacy wallets provide users with the benefit of connecting to the Tor network for additional privacy.

They never denied the privacy part, they are just limiting their privacy capability to that of Bitcoin    but is Bitcoin even a privacy coin? The answer is no, because bitcoin is just a decentralized project, not anonymous LMAO

Principles change when use cases expand. A company vision can change over time, a company strategy can change over time, a company focus can change over time.
Crypto is a space where everything constantly evolves and changes, if a company or a crypto project does not adapt they will have little chance of survival.

Dash took this new direction, new focus, new strategy, new vision many many years ago. Only to people that have been out of touch with Dash developments over the years,
does this come as a surprise.

LMAO, previously they have been in competition with Monero as being the top privacy coins and now they suddenly made a U-turn claim? Lol. What is this to save their skin because of the future delisting of their coins? Regardless if they expand their use case, they remain as privacy coins, no doubt.

So I don't think this is ok though, it might back fire on them, a company who goes against the very principle that they are promoting in the beginning.

Some exchanges and a lot of people from the crypto space seem to think that Dash is 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

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 DOJ and FinCEN PRM mislabeled Dash as an AEC (Anonymity Enhanced Cryptocurrencies) and some smaller US exchanges (ShapeShift, Bittrex) seem to be basing their delisting action
on that Dash mislabeling. Larger international operating exchanges have competent compliance departments that understand that Dash is no AEC and should be viewed the same as Bitcoin.

Dash and Bitcoin both have open blockchains where transactions, senders and receivers can be fully viewed
Dash and Bitcoin both use optional CoinJoin on their network
Dash usage of CoinJoin is lower then Bitcoin's usage of Coinjoin
Dash is a fork of Bitcoin

From a regulator point of view, there is simply no difference between Dash and Bitcoin.
Since the DOJ and FinCEN PRM do not label Bitcoin as an AEC, they should also not label Dash as an AEC.

Everyone has been  cheated for years  before the truth came out. Dash has never been privacy centered coin. They just used that buzz word to attract believers  and case-harden them so that they could not go away. Their marketing strategy has played  a dirty trick on own baby. IMO, if other exchanges   follow Bittrex we'll  witness a big dump.

Lol, hope those who invested on dash for it's privacy purpose are seeing this now?  , I can't believe a old project can make this move, we used to get such from new projects, why dash? Lol almost unbelievable, as if bittrex owns the key to their biggest adoption or something