Privacy coins getting delisted - page 3.

Inu.Guren

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homt.net

Quote from: jorenpo on September 16, 2019, 10:57:15 PM

I don't know what are they thinking. thats the main reason why they created privacy coin. to not have any trace of a transaction

the simple answer of course you can read the mission about the privacy on their official website.
and few of them are focused to make community transaction are secret...and protecting their privacy, of course as we know blockchain itself any transaction can't tracable and this is one of blockchain feature

Vishnu.Reang

sr. member

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Nothing unexpected here. We can't really blame the exchanges as well. The authorities are cracking down on cryptocurrency exchanges all around the world and the remaining ones are forced to implement stricter KYC requirements. The conversion of privacy coins to BTC/USD (and vice versa) is being actively monitored and some of the exchanges are puling out as it is causing too much trouble for them.

Marckolind

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Privacy coins will flourish on decentralized exchanges, which will be a huge competiting market to all the centralied exchanges we've got today.
Most DEX solutions currently available just isn't good enough, or worth peoples times, which makes sense when you think about. All DEX solutions is based on Atomic swaps, or something even worse, which makes trading extremely slow on a peer to peer level.

Do some research on Stakenet (Which will add privacy as well), who's building a Lightning DEX. I personally believe that's one of the greatest ideas in crypto right now for a true working DEX with instant trading, low fees, and 100% privacy, as you don't need to submit KYC, open accounts, or even sync with the network.

Do your own research, but it's definitely one of the most promising projects out there currently in this space.

poornamelessme

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Quote from: qwizzie on September 17, 2019, 09:08:05 AM

Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :

Same thoughts crossed my mind. Soon there may be little difference between btc, ltc, eth and dash, monero, etc. There are already coin mixing services for btc too.

And I still have no idea why it matters when exchanges require KYC (I assume)? So tries to move his anonymous coins he obtained from to exchange. All secret and anonymous, as bad guys are wont to do.

First step to sell them is to provide his real name, address, social (or country id) usually with license or passport. So how is this private and anonymous anymore?

enhu

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Quote from: qwizzie on September 17, 2019, 09:08:05 AM

Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :

Quote

Prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) today that offer plans that could prove
foundational to a possible upgrade to the cryptocurrency.

The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.

Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork

Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.

Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?

Delisting BTC and ETH would be a more demented news for all. Grin

This could be a message to the developer to postponed the taproot.

Still this is bad news for the privacy coins out there. There is no reason for these exchanges anymore to put limit to withdrawals, I hope the DEX these days and because of this news DEX will have the volume to these privacy coins. Hopefully.

qwizzie

legendary

Activity: 2548

Merit: 1245

What i dont understand about the FATF "Travel rule", is why this is direct cause to delist Dash on OKEX,
when with Dash only 1% or less of its transactions are of a private nature and the other 99% of its transactions
are just as public as Bitcoin and can still be made fully compliable to this new rule from the FATF Huh

Link : https://ciphertrace.com/fatf-crypto-travel-rule/

The FATF by introding a new rule that exchanges can not easily integrate (its a ridiculous rule to begin with)
are directly and unfairly infringing on crypto usage and crypto development.

There are exchanges that simply dont follow this rule for now (exchanges like Binance and Coinbase and a lot
more exchanges i suspect). Lets see if this rule survives or not (i think it will be dropped at some point).

Milamol

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Quote from: betty11 on September 17, 2019, 07:27:23 AM

I believe they are trying to comply with the regulating frame work of the government, they don't want the wrath of the government. This news is not a very good one for the community, exchange will comply with any policy that will make them stay in the market, so am not going to criticize them for their action.,

Yes, this is a consequence of the pressure of laws and regulations. And it will increase in the future. But at the same time, the value of anonymous coins will not decrease. Those who need real anonymity will use these coins more often than BTC.
These delistings are nothing more than a game by different rules that will not change anything.

qwizzie

legendary

Activity: 2548

Merit: 1245

Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :

Quote

Prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) today that offer plans that could prove
foundational to a possible upgrade to the cryptocurrency.

The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.

Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork

Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.

Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?

Ben Shedly

member

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CurioInvest [IEO Live]

Quote from: joseyphil82 on September 16, 2019, 08:47:52 AM

Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..

“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.

Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”

Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/

The reason is that regulators such as the SEC a little pinch exchanges and require them to provide information about users of exchanges and transactions in order to gather information on the movement of capital. That's why so many people every day cease to trust the exchanges.

mindrust

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Quote from: cabron on September 17, 2019, 08:21:15 AM

Its privacy coin which meant its only for them. Those people who hold these coins though possibly are not interested to coinbase. They'd just do whatever they are doing still, its just a "catch me if you can" situation.

I know. I didn't say otherwise.

But the attention from all those exchanges and casinos etc, make the coin keep going, price-wise. Maybe you are not interested in the price action, then there is nothing to worry about it. (even though that price action brings more adoption)

Quote from: danherbias07 on September 17, 2019, 08:27:21 AM

And that is why they put a limit into every centralized exchange. Example is Binance which have 2 BTC limit, that is to avoid this criminal transaction or money laundering acts.

Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.

Why delist it if they cannot even do anything to get in and out.

The only place you could sell was localbitcoins and they already KYC'ed them. It doesn't look good indeed.

danherbias07

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Leading Crypto Sports Betting & Casino Platform

And that is why they put a limit into every centralized exchange. Example is Binance which have 2 BTC limit, that is to avoid this criminal transaction or money laundering acts.

Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.

Why delist it if they cannot even do anything to get in and out.

Metall303

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Oikos.cash | Decentralized Finance on Tron

I think that these private currencies cannot continue to exist because governments will tighten controls of such currencies and the people who use them and i think that this is correct

cabron

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https://www.betcoin.ag

Thats not good. Not good for those who hold such coins, I do have some but were not listed to Okex. Now is the time to stick on DEX. Do you think other exchanges will follow what Okex Korea is doing?

Quote from: mindrust on September 17, 2019, 08:08:57 AM

These coins are the real threat to the world governments. Not bitcoin.

Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.

Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.

Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.

Its privacy coin which meant its only for them. Those people who hold these coins though possibly are not interested to coinbase. They'd just do whatever they are doing still, its just a "catch me if you can" situation.

mindrust

legendary

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Merit: 2442

These coins are the real threat to the world governments. Not bitcoin.

Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.

Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.

Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.

Ridwan Fauzi

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The government just seek the bad side on the something that they aren't really knows. Whilst, the using of their money fiat is something that more dangerous rather than cryptocurrency. Because they can be able to know what has done by their citizen such as through KYC, they can make a provision to all exchanges who run on the country and every user must pass the KYC before they make a transaction.

This is not a bad news in my point of view, but it is just a knowledge side. If you wonder to active on this forum then this case will be taken as an ordinary thing. And I just thinking if there is a bad news who come from the government then I won't take it seriously because it's just a satire. But when I found a good news such as they will accept cryptocurrency or they will make a start-up based on blockchain technology I'll take it seriously.

LuckyBtc

legendary

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This is just a start, Other exchanges probably will do the same(But I hope they don't). I guess Decentralized exchanges or AtomicDEX will benefit from this largely, The sooner we get used to them the better.

betty11

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I believe they are trying to comply with the regulating frame work of the government, they don't want the wrath of the government. This news is not a very good one for the community, exchange will comply with any policy that will make them stay in the market, so am not going to criticize them for their action.,

Rustamm

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Bitcoin lover!

This is really bad news, but I don’t think this news came as a surprise to owners of confidential coins, because the war on privacy has been going on for a long time and government officials have been talking about the deanonymization of cryptocurrency owners for a long time. It was clear that crypto exchanges would look for ways to deal with anonymous cryptocurrencies. But do not forget that no one can forbid us to use anonymous cryptocurrencies, we can still exchange them for OTC or make purchases on the Internet.

pieppiep

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I think they will have to regret delisting the privacy coins from their website someday. They don't have to do that because the privacy coins are included inside the cryptocurrency and if they are afraid because of the potentially criminal pattern, they should not have the other cryptocurrency too because all of the cryptocurrency is anonymous and people can do anything with the cryptocurrency for making the transaction.

We still have another exchange that still lists the privacy coins, and we can use it to make a profit. I think that will not affect the other exchanges as they are running in a different country. Maybe that exchange is afraid because of the regulation in their country, so they decide to delist the privacy coin from their site.

I am sure the privacy coin can survive if they are delisted from those exchanges because they can exist in the other exchanges without a problem.

#Darren

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This is not surprising, because as we are moving towards the mass adoption, there is only one way to find a common road with government and this is ban of all privacy coins. No government will legalise crypto currencies with such coins as Monero.

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