Topic: Privacy coins suits DEX (Read 384 times)

I don’t think the coins that are being delisted were removed just because they are privacy coins. Exchanges won’t just add coins and then start removing them or weren’t they aware that those coins were privacy coins when they were adding them at first? There must have been some kind of issues that came up which made them to start removing those coins.

Yes privacy coins are the true decentralization, although it’s just two that I know are really good and those two are not getting delisted from any exchanges, they going good. DEX is good, but not so many people makes use of DEX.

Yeah, You are completely right. DEX is in the privacy exchange to compare with many ranked up coins of their anonymous use case. Actually, every decentralized coin has a unique and special image with value, trading speed, financial activities. But there have a few problems with that, DEX always supports chain transaction and delay cross channel transaction. In that case if you like to trade or exchange with other coins, then it will be different coin which wrapping coins.

Let's just say as the crypto market is getting more popular, the eyes of the regulators are also looking closer to it and since a CEX is only legitimate when it's registered, therefore regulators can do what they want and they want to implement the standard rules based on centralization and that involve KYC as the basic requirement which is not suitable for a privacy coin.

Privacy in crypto space works best with decentralization, you have a point OP but decentralized exchanges are not so capable of what centralized exchanges can do, as a trader I don't like using DEx, it's more easier with centralized exchanges because of unlimited liquidity and volumes, also high transaction fees are a major problem for DEx too

It's not the problem. US never give an order to the its exchange site do delist the privacy coin but bittrex is the only exchange site who has been taking such action.
So many people have asked the team about that but they were not answering it.
I never heard that the US regulators were ordering the US based exchange site to delist privacy coin.

First, it is very true that there are many projects today which claims to be decentralized but in fact they are not, rather just using decentralization to achieve whatever they want, this spans from already existing projects to upcoming projects as well. Secondly, delisting of privacy coins from centralized exchanges can be seen as exchanges trying to obey what was laid before them by the law enforcement, hence the need for a decentralized exchange. Therefore I agree with you, privacy coins needs a decentralized exchange which will make it possible for them to trade the want they want without interruptions or threats of delisting. Thirdly, people might wonder about the volume of decentralized exchanges, but I am of the opinion that once they start trading there, those who have been using it will still find it worthwhile visiting the DEX to trade it , the whole essence is to give privacy coins a platform where they will trade without issues.

It really sounds right on the ear that privacy coins are better off listed on DEX only but presently DEX aren't that good yet, trading is a pain on DEX compared to centralized exchanges, they both have disadvantages but centralized exchanges are better choice over DEX, may be in near future we will be capable DEX exchanges

Basically the game is just about the volume, if these privacy coins will be listed exclusively on DEX, then we can expect millions of volume, and it's very much possible since they have millions of trading volume already in the current CEX where they are listed.

Private coins are delisted because the government requirements do not meet, and all major exchanges are now trying to find a compromise between government regulation and staying on the market, so this trend will continue. I don't like that, but that is today's reality

DEX don't have crypto to fiat conversation if not DEX is be on CEX foot right now, also DEX have too high transaction fee, in short DEX isn't as good as CEX but I do hope for a better DEX future, uniswap, balancer, etc aren't just good enough

This is the reason why we don't have privacy coins in DEX. And furthermore DEX doesn't allow a direct way to convert your fiat to crypto. They deal with crypto to crypto conversion only. Some of the privacy coins are already being traded largely P2P without the involvement of Centralized exchange. Though there always would be a risk of being scammed when you are dealing with unknown people with privacy coins.

Really? they suddenly turned into centralized exchange already, I'm not updated with that, pardon me, I have not used IDEX for awhile but the last I used it, it does not require any KYC, just a private key of my MEW and I'm good to go.

Presently the DEX in crypto space are too limited, UNISWAP, balancer, what other? I'm guessing they aren't many at all, this year I'm hoping there will be more supports for decentralized exchanges and OP is right too, anonymous coins will feel more at home on DEX than centralized exchanges, it's like that's the perfect place for such coins to be

This is a centralized exchange!
It has not anything to do with decentralization.

Volume fell due to the  KYC/AML requirement that they introduced!
https://exchange.idex.io/legal

Any exchange that asks for your data ID, passport or address is a fake DEX.
Don't fall for scams because a decentralized exchange should allow any user to
trade no matter from where he is connected.

How can an exchange be decentralized by having a centralized point of failure
I mean user data collected by central entity that could be hacked and data can be stolen!

IDEX was very popular during the ICO craze, but now they don't have good volume anymore as there are only few ETH tokens which are profitable. I think as the crypto space is evolving, we need more DEX to make the market bigger for anonymous coins, and we need support from investors and users as well.

Yes, there are good anonymous coins, I personally chose a couple of such projects for myself:
1) Alias- https://bitcointalksearch.org/topic/ann-spectrecoin-anonymous-tx-tor-ring-signatures-stealth-4434053
2) SafeCoin - https://bitcointalksearch.org/topic/ann-safe-safecoin-community-edition-of-solana-2838370
3) NIX Coin - https://bitcointalksearch.org/topic/ann-nix-next-gen-privacy-currency-multi-layered-interoperability-platform-5099680

But only SafeCoin has its own exchange

And the most anonymous Alias coin does not have its own exchange and this is its problem, small trading volumes 

Well, among the decentralized exchanges of projects, DeFi Uniswap is in the first place for me. I haven't used DEX DeFi for other blockchains yet - only Ethereum. If we talk about the usual decentralized platforms, IDEX seemed to me quite good, although I have not conducted operations there for a long time.

Dex platforms all the way, I'm just a little bit disappointed in dash coin, the team claimed on their twitter account that their privacy level is just like that of Bitcoin, pls is Bitcoin a privacy coin or a decentralized coin? This is a lame excuse to remain on bittrex, there are many dash lovers out there, wherever exchanges that dash is on people will still move there, bittrex isn't the only best exchange alive

just for the record:

https://blog.komodoplatform.com/en/dash-zec-remain-listed/

They really suit the decentralized exchanges.

There will be no delisting that will happen to them as it is a decentralized market. While in centralized exchanges, the government can demand the exchange company to delist a privacy coin that they think will impose a threat to transactions.

It is the main reason why they're pulling out the privacy coins because of its relation to its attribute of being private.

Agree with you, they can't be regulated so they need to be listed in a decentralized exchange.
Actually the purpose of crypto is decentralization, everything should be easy if we are all using decentralized system, including exchanges.

maybe if this initiative will be successful, we might see a big boost of the DEX volume, which does not recover anymore after the ICO craze and the ETH tokens being traded in DEX.

You maybe missed some older projects that already had a lot of functionality before ethereum even had a GUI wallet!
I mean there were project back in 2015 (NXT, NEM, QORA)
that had features like a decentralized asset exchange, blog, chat, naming system (DNS),
address alias system, build in multi signature accounts, polls (voting) and cross chain atomic swaps.
It seems whenever some "new" already  existing feature is launched on ethereum
all the news are reporting like a big achievement event if this stuff existed 4 years before on other blockchains.

Unfortunately NXT fell into oblivion even if it had the 1st decentralized asset exchange.
Maybe it will be rediscovered again!

Regarding cross chain atomic swaps, QORA was the first blockchain that implemented that feature.
It was possible to trade QORA with BURST without 3rd party and middleman directly on chain.
At that time QORA technology was ahead of time but is seems nobody cared about it so it fell into oblivion too.

Now there is one new community project in ongoing development named QORTAL
 which is based on QORA but with new code. It will be soon possible to trade QORT/LTC pair
using cross chain atomic swaps without 3rd parties and no middleman involved!

Remember people the golder rule: Not your keys not your crypto!
I invite you to check the QORTAL thread here https://bitcointalksearch.org/topic/qortal-blockchain-project-decentralized-websites-now-live-5258519
if you are interested in using the platform in near future
or if you would like to support or help developing the project.

DEX have headache of their own, it's better if privacy coins are available on both DEX and centralized exchanges for more exposure, also traders that use privacy coins for trading will be affected too cos trading can't take place on DEX, lack of volume, high fee etc are DEX problem

Then it's probably the perfect time to start getting used to DEX, I believe the best place for privacy coin will be DEX too, a place where regulations can't reach is decentralized exchanges and platforms, I have no problem sharing my identity with centralized exchanges even if regulation comes and all non verified users are ban or abandoned

this year will be the year of regulations that will be imposed by us government and then will be followed by other governments and some governmentsdon'tknow even if it exists like mine. They are now getting to know cryptocurrency and it's a big and vast marketplace that is not regulated so brace yourselves for a lot of new rules and surprises coming out.

You do not even need to do cross-chain, you could always do a move and just switch chains, with a fork. It is not technologically important, let's assume you have your own chain, or you are on ETH chain but you want to move, you could always do a fork and move to another chain and everyone gets the same amount, old chain stops mattering anymore.

However the problem with the privacy coins is literally the name, they are privacy and if it is open on public how could it be privacy to begin with? It would require blockchain to be followed and you would be able to see wallets and how much they have etc etc, you are basically giving rights to the swap in order to let it change your tokens. This is why it would be very difficult for privacy ones to move to uniswap type of places. It is not impossible and by the looks of it that will happen one day, but it is not going to be easy.

Why the complains?  there are over twenty exchanges that still list Monero and other privacy coins presently, XMR for example is available on top exchanges today, it's a matter of choice, XMR, DASH and others can only get delisted from US exchanges, binance US delist coins that SEC sees as threat but not binance itself, thank God that majority of exchanges are not US based

If you are looking only for anonymous coins as investment and no plan to use it then you should sell it now since other centralized exchange will also do the same they will removed it there sooner or later so selling it will be the best option for you. Dex will be a better option to trade anonymous coins how ever many people or traders like us do not want to use that kind of exchange .

This is the sad reality about DEX right now. It very hard to do cross chain on multiple blockchain unless they do the method like what you said. So far I only see maximum 2 blockchain cross chain so far and combining all this privacy coin is really a big challenge to the developer. I'm not familiar that much to the principle of atomic swap but I heard that it might be a solution for cross chain issue.

for the record: first and Best DEX out there:

https://blog.komodoplatform.com/en/atomicdex-komodos-revolutionary-p2p-atomic-swap-decentralized-exchange-now-in-public-beta/

https://komodoplatform.com

https://crypto-economy.com/atomicdex-komodo/

It's not going to be good if privacy coins are delisting from all centralized exchanges because till date you can't comparing trading on centralized exchanges with DEX, traders who prefers to use XMR for trading will have no choice than to abandon XMR for other altcoins that's available on CEX

IMHO, I think that was a good idea and their last refuge, due to delisting frenzies of privacy-centric coins in the centralized crypto exchange market, The best thing to do for these platforms is to unite now to create a DEX suite that was equipped with good features and functions that was comparable to the Centralized crypto exchange but it is up to them after all they will be the ones who affected the most.

Dex has been the to go exchanges for this privacy coins even before the delisting, but still the volume is shallow that it doesn't have any effect on the market. So I don't know, if traders are going to flock to Dex just because of this event, or go underground to trade or simply sell their privacy coins and move out. Really hard to see at this point.

in my opinion, nothing bad happened and this situation will give an additional impetus to the development and increase of liquidity on the decentralized exchange.  Anonymous coins must  be traded anonymously on the DEX.

The problem with this is that most current DEXes support on chain transactions not cross chain and even if they allow you to trade coins from different chain they achieve that by wrapping coins in centralized way.

Good thinking OP, if one looks into privacy coins use cases it's a better fit for decentralized exchanges than CEX, in near future privacy coins will might be forced out of every centralized exchanges but DEX just suit them better like you said, delisting won't stop privacy coins and the hate and unacceptable acts from centralized exchanges will even make privacy coins more noticeable

Agreed and that's there must be more dex that will try to accept the privacy coins. This time there are only a few dexs that already traded the privacy coins. The problem is the majority of dex were focusing into the smartcontract. It's a very small amount of dexs that accepts the privacy coins. It's quite difficult to trade on those dexs consider the liquidity problem faced by the users.
The dev of anonymous coin must also create its own dex.

Privacy coins are getting delisted from some centralized exchanges but I do feel that the best place for privacy coins is DEX exchanges because of their anonymous use cases, also I think that privacy coins represents the real decentralization than other projects trying to claim decentralized..