Shiba Inu turns into privacy coin like Monero or ZCash? - page 5.

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Quote from: Sethrey on February 07, 2023, 06:17:41 AM

According to the latest news, the next 2 updates turns Shiba Inu into privacy coin:

The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.

Is it on the whole possible to turn a regular coin into privacy one? And does that mean that its rate will now start growing?

I don't think it will be competitive with 0xMonero and their off-chain solution 0xTIP. There is always the risk with on-chain privacy solutions that they are backdoored or that quantum computing will expose transactions in the future. That's not the case with off chain solutions.

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Quote from: kojektea on May 06, 2023, 12:21:00 AM

but there is no definite confirmation from those who hold shiba inu nor any definite news from their developer to turn shiba inu into privacy coin, i think they are still meme coin as before, it is very good if they combine those two concepts in their project, because memes and privacy have never existed but if it's possible, because it looks weird to hear.

we have to wait for the latest news from them whether it will indeed change or be improved and I agree with you that because there has been no clear confirmation from the shiba inu themselves, that's why until now, they are still a meme coin.
if indeed there will be changes then of course there is progress made by the shiba inu and this is of course good news that will be able to give more trust to the shiba inu, we are waiting for the release that will be issued by them.

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but there is no definite confirmation from those who hold shiba inu nor any definite news from their developer to turn shiba inu into privacy coin, i think they are still meme coin as before, it is very good if they combine those two concepts in their project, because memes and privacy have never existed but if it's possible, because it looks weird to hear.

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In my opinion, it's definitely possible to turn a regular coin into a privacy coin through updates and adding new features, like what's happening with Shiba Inu. Like introducing privacy-focused dApps and layer-2 solutions can help enhance the anonymity of transactions, which is one of the main aspects of privacy coins.

Generally, it's a bit hard to predict if the rate will start growing just because of these updates. While it's true that privacy features can make a coin more attractive to some users.

The overall market sentiment and other factors will also play a significant role in determining the price trajectory. So, I'd say it might contribute to growth, but it's not a guarantee.

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Quote from: BADecker on May 04, 2023, 05:17:40 PM

My question is, can you track the value of these coins? If so, they are not as private as I would like. See https://bitcointalksearch.org/topic/m.62195770.

Cool

If I understand correctly, this is a technology that many now want to recreate correctly. Zero-knowledge blockchain. This technology has to prove that you really have coins, but no one can see your account

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My question is, can you track the value of these coins? If so, they are not as private as I would like. See https://bitcointalksearch.org/topic/m.62195770.

Cool

Sethrey

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Quote from: s.tanishka on April 28, 2023, 07:07:32 AM

Why do I need Shiba Inu if there are already private coins that are time-tested, have serious technology, their blockchain is tested and unique and over the years they have proven that they can be used for anonymous transfers?

When you answer yourself this question, answer another one - Is the Shiba Inu team's announcement that they will become a private token just a way to get attention?

I think both answers are obvious.

Regarding the announcement that Shiba Inu will become a private token, it's possible that it could be a way to generate attention and excitement around the project. However, it's also possible that the team genuinely believes that becoming a private token is the best direction for the project's long-term success. It's important to wait and see how this decision plays out and how it impacts the project's overall performance.

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Quote from: abel1337 on April 23, 2023, 10:06:43 AM

Shiba is just currently using their plan transition into a privacy coin as a catalyst to stay relevant to the market. Those who don't hold crypto wouldn't be excited as much as those who have it. Those who hold their this shiba coin will have something new to boast for though I also think that Shiba would be a first choice for those who would want to invest into privacy coins. Those established coins like monero or zcash would ultimately the first choice of investors as they have been long to the market and has the features that is tested and use by majority for a long time now.

Why would Shiba Inu want to "stay relevant in the market" by adopting privacy features? On the contrary, doing such a move will be a step backwards towards mainstream adoption for the cryptocurrency. The fact that privacy coins are being de-listed across centralized exchanges, tells us that there is strong opposition against them (especially by mainstream governments and banks). Thus, for the sake of the Shiba Inu project, it's best to leave things just the way they are.

Instead of focusing on privacy, Shiba Inu should focus on following the next big thing in the crypto/Blockchain space. NFTs, AI, and the Metaverse is where the money is. Not privacy/anonymity. Ultimately, it all comes down to what the community wants for the cryptocurrency. As long as decentralization is put first, nothing else matters. Just my thoughts Grin

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Why do I need Shiba Inu if there are already private coins that are time-tested, have serious technology, their blockchain is tested and unique and over the years they have proven that they can be used for anonymous transfers?

When you answer yourself this question, answer another one - Is the Shiba Inu team's announcement that they will become a private token just a way to get attention?

I think both answers are obvious.

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Quote from: abel1337 on April 23, 2023, 10:06:43 AM

Quote from: KingsDen on April 23, 2023, 06:00:29 AM

Quote from: newdevices on April 18, 2023, 04:23:00 PM

If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

Presently, Shiba has lost it's investment aura. Only meme lovers and crypto gamblers have ever taken Shiba seriously as an investment option. Serious investors can hodlers cannot consider Shiba a long term investment.
Everyone is now waiting for bull run in order to see if Shiba can be resuscitated.
So, if the developers have found a new way to keep the coin relevant, they should try it out but I sure know that people who already use privacy coins like monero cannot leave it for Shiba even if it turns a privacy coin.

Shiba is just currently using their plan transition into a privacy coin as a catalyst to stay relevant to the market. Those who don't hold crypto wouldn't be excited as much as those who have it. Those who hold their this shiba coin will have something new to boast for though I also think that Shiba would be a first choice for those who would want to invest into privacy coins. Those established coins like monero or zcash would ultimately the first choice of investors as they have been long to the market and has the features that is tested and use by majority for a long time now.

I think the steps taken by Shiba are right and sooner or later they will continue to grow,
after this maybe those who are interested in investing in Shiba are increasing,
let's see and follow the progress.

Sethrey

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Quote from: newdevices on April 18, 2023, 04:23:00 PM

If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

It is worth noting that privacy coins can offer many benefits, such as enhanced security and privacy protections for users. While there may be some regulatory challenges associated with privacy coins, it is possible that these issues could be resolved in the future as the cryptocurrency market continues to evolve and mature. Ultimately, whether or not Shiba Inu becomes a privacy coin is up to the project's developers and community to decide.

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Quote from: KingsDen on April 23, 2023, 06:00:29 AM

Quote from: newdevices on April 18, 2023, 04:23:00 PM

If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

Presently, Shiba has lost it's investment aura. Only meme lovers and crypto gamblers have ever taken Shiba seriously as an investment option. Serious investors can hodlers cannot consider Shiba a long term investment.
Everyone is now waiting for bull run in order to see if Shiba can be resuscitated.
So, if the developers have found a new way to keep the coin relevant, they should try it out but I sure know that people who already use privacy coins like monero cannot leave it for Shiba even if it turns a privacy coin.

Shiba is just currently using their plan transition into a privacy coin as a catalyst to stay relevant to the market. Those who don't hold crypto wouldn't be excited as much as those who have it. Those who hold their this shiba coin will have something new to boast for though I also think that Shiba would be a first choice for those who would want to invest into privacy coins. Those established coins like monero or zcash would ultimately the first choice of investors as they have been long to the market and has the features that is tested and use by majority for a long time now.

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Quote from: moneystery on April 04, 2023, 02:45:13 AM

If it's true that the latest update will bring Shiba Inu like that, it will change the Shiba Inu from being a meme coin to a privacy coin which is better and clearer on purpose. Because compared to being a meme coin that only relies on pumping, it would be better for Shiba Inu to be a privacy coin that can be used by people for faster and anonymous transactions globally.

It is possible that Shibu Inu coins are considering transitioning into privacy coins due to recent decisions made by Central Bank Digital Currencies (CBDCs) that prioritize privacy, financial inclusion, and standardization. Unlike meme coins, privacy coins have struggled with issues such as liquidity, cross-border transactions, and lack of standardization, as evidenced by the fact that criminals tend to use bitcoin more than privacy coins. However, the potential for meme coins to become privacy coins is not entirely clear but the liquidity is an advantage, the process will consider its new venture involving swapping and other considerations.

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Quote from: carrie_white on April 12, 2023, 02:16:12 PM

from here we can see which meme coins are good and which meme coins are not, shiba inu is one of the meme coins which in my opinion is quite good and consistent in the process of developing, and shiba inu has great potential in the future, if shiba inu can continue to adapt to keep up with current development

You are pretty wrong there mate. I mean shiba is just there because of the hype, and there are no good or bad meme projects all of them are unfortunately bad. This may come as someone who just dislikes crypto, but all of my investments are in crypto and I have nothing else, I haven o stocks, no gold, no real estate, no futures, nothing.

I am in pure crypto, and I invested into some pretty crazy stuff back in the day, and yet even with all of that I am warning you not to invest into shiba, or doge, or any other meme project. It is not going to give you any money and you will lose it. Just like how Elon pumped it with twitter for a while and then it crashed, you will buy because of the hype and it will crash again.

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Quote from: newdevices on April 18, 2023, 04:23:00 PM

If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

Presently, Shiba has lost it's investment aura. Only meme lovers and crypto gamblers have ever taken Shiba seriously as an investment option. Serious investors can hodlers cannot consider Shiba a long term investment.
Everyone is now waiting for bull run in order to see if Shiba can be resuscitated.
So, if the developers have found a new way to keep the coin relevant, they should try it out but I sure know that people who already use privacy coins like monero cannot leave it for Shiba even if it turns a privacy coin.

s.tanishka

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Quote from: newdevices on April 18, 2023, 04:23:00 PM

If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

Shiba Inu is a purely commercial meme project that aims to earn as much money as possible. Even if at some point they are delisted it does not mean that its price will not become even higher later. You can see many examples when private moments after delisting grew in price.

newdevices

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If indeed Shiba Inu is going to be a private coin that would be sad,
why? because some exchanges have started delisting privacy coins,
what I'm afraid of is that shiba can no longer be trusted as an investment.

Abiky

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Quote from: AmoreJaz on April 11, 2023, 04:58:53 PM

and if i may add, even if they added a privacy feature, we don't know to what extent they are really implementing the privacy protocol. they are adding such feature to sustain the interest of people. however, as you said, they still remain to be a meme token, wherein, its survival still depends on the team behind it.

There are other important things to focus on, than just adding privacy features to a "meme" coin. Why don't developers start by burning the token's supply? If they do that, SHIBA will no longer be worth less than $0.01. By adding privacy features to Shiba Inu, they will alleniate the project further from CEXs.

Governments are strict against crypto/Blockchain tech these days, so they will quickly target anything they can't track or trace. Expect SHIBA to be de-listed across major exchanges once developers add privacy features on-chain. Let's see how long the cryptocurrency will last as people move on to the next big thing in crypto. Just my thoughts Grin

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Quote from: Coyster on April 18, 2023, 09:05:21 AM

Quote from: carrie_white on April 12, 2023, 02:16:12 PM

from here we can see which meme coins are good and which meme coins are not, shiba inu is one of the meme coins which in my opinion is quite good and consistent in the process of developing, and shiba inu has great potential in the future, if shiba inu can continue to adapt to keep up with current development

Personally i'd not invest in any meme coin or consider any of them to be good investments, it is obvious they lack any actual utility, and are only good for traders who want to speculate and make some quick profits, meme coins also fall into the category of pump and dump coins, they usually appreciate in price when there is quite a lot of hype for it, but without that hype and with obviously no actual utility, it is definitely going to dump. I don't consider meme coins to be long term projects with a long future, thus be careful how you invest in them, and always be ready to pull out before a dump.

You're right, meme coins are trading and gambling toys, as a high-risk investment, so they don't mix very well with proper, low-risk investing. Buying new meme coins that are relatively new is like investing in a ponzi scheme, you never know when or how this venture will end. It's not investing, it's roulette. Those who spend time buying unknown meme coins in the hope of discovering new SHIB, they all, for the most part, are left with a loss and a mountain of junk coins in their wallet.

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Quote from: carrie_white on April 12, 2023, 02:16:12 PM

from here we can see which meme coins are good and which meme coins are not, shiba inu is one of the meme coins which in my opinion is quite good and consistent in the process of developing, and shiba inu has great potential in the future, if shiba inu can continue to adapt to keep up with current development

Personally i'd not invest in any meme coin or consider any of them to be good investments, it is obvious they lack any actual utility, and are only good for traders who want to speculate and make some quick profits, meme coins also fall into the category of pump and dump coins, they usually appreciate in price when there is quite a lot of hype for it, but without that hype and with obviously no actual utility, it is definitely going to dump. I don't consider meme coins to be long term projects with a long future, thus be careful how you invest in them, and always be ready to pull out before a dump.

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