Topic: The fate of privacy cryptocurrencies (Read 351 times)

Its gonna make these privacy coin market cap smaller for sure but I dont think its gonna disappear. If coin like monero is used frequently within dark web then its still gonna be used for transaction despite all the bannings.I never went to any of the dark web but people said its land of p2p transaction without middlemen.
japan and south korea delisting is obviously gonna come but once the US could somehow reveal the supposedly untraceable coim becomes traceable that means doom for these privacy coins.

The list of exchanges that are delisting anonymous coins will only increase. And this will happen not only at the request of the state, as we have seen earlier in Japan and South Korea, but also by the exchange's own decision, as happened on the Bittrex exchange.

It is difficult to say what will happen to anonymous coins in the future, everything will depend on how the regulators will behave and whether they will continue to put pressure on these coins, and may also impose bans on trading them on different exchanges

That was then but there are still much privacy coins around the US exchanges, what i believe in is: these privacy coins will have some bad challenges from the government but eventually these privacy coins will surely win except the project teams decide to abandon these privacy coins. Although most of these privacy coins might not be in need becasue Bitcoin could be use instead IMO.

Once again, I repeat - in the future, when the issue is settled and cryptocurrencies receive an official status, and the right to be used as a means of payment, really anonymous cryptocurrencies will be outlawed. The reason is simple and trivial - the impossibility of controlling the movement of such means of payment and, accordingly, the ability to use it for illegal actions.

Recently the anonymous coins skyrocketed way high, I checked monero price and it has increase up. I was able to check Dash price, it has also increased, in few days ago when these anonymou cryptocurrencies were facing delisting issues, the price of bitcoin and altcoins like ether and litecoin increased significantly but these anonymous coins decreased just slightly little though. But is surprised me to see the Dash I saw at $89 in few days ago at $134 now, the price has significantly increased.

I think their future is save provided Binance did not delist them. The thing in the privacy space is that we are now seeing boys being separated from men. I think the big boys like Monero will continue to do well because there will always be demand for it from the Dark market and the likes of Dash will continue to do irrelevant because their solutions is not really private

This is one of the possible scenarios for the development of the situation, as well as taking into account the trend of transition from cash (physical money) to "non-cash", which will significantly reduce the ability of illegal structures to use such money for their own purposes.
But the main factor why anonymous cryptocurrencies will be "squeezed" is the impossibility of their control by the state, financial monitoring.

What about Verge with the announcements coming up tomorrow at the CES show?

This is what Dash is saying :

Source : https://media.dash.org/wp-content/uploads/Dash-PrivateSend-Legal-Position-EN.pdf
 
Dash is as much a privacy coin as Bitcoin (in other words, not a privacy coin).

* Dash and Bitcoin both have a public open blockchain, where transactions, amounts, senders and receivers are publicly viewable (pseudo-anonymous)
* Dash and Bitcoin both optionally offer privacy on their transactions, through a form of CoinJoin in their wallets. Bitcoin use Privacy Wallets for that and its CoinJoin usage on its network was about 4% in 2019, Dash use its Dash Core wallet for that and the current CoinJoin usage (they call it PrivateSend) on its network is about 1-3%  
* Dash main use case is not providing optional privacy on its transactions, Dash main use case is providing instant, secure, protected against double spending, transactions that can be used by anyone, anywhere in the world. Dash transactions settle in 1-3 seconds on its network (send - receive - spend), through InstantSend
* Dash is tranforming into a technology stack platform for building decentralized applications (Dapps) on the Dash network, which will expand Dash use cases

https://dashplatform.readme.io/docs/introduction-what-is-dash-platform
https://bitcoinist.com/dash-launches-public-alpha-for-social-payments-wallet/

* Dash is a fork of Bitcoin

Just because Dash (just like Bitcoin) offers optional privacy, does not make Dash (or Bitcoin) a privacy coin.
Privacy coins are those coins, that have one main use case and one main focus : privacy.

If Litecoin continues with its plans to implement privacy features, will that make Litecoin suddenly a privacy coin ? I guess that depends on Litecoin offering that privacy through
a choice (optionally) or not. Also it depends on Litecoin's use cases. And it depends if Litecoin wants to be associated with that 'privacy coin' label.

There is a real risk of Altcoins offering privacy / optional privacy on their transactions, getting classified as an Anonymity Enhanced Cryptocurrency (AEC) by the US government agencies.
Smaller US exchanges are uncertain about that classification and how to deal with that. Some of those smaller US exchanges choose to delist, rather then deal with it.

there are still clients of these privacy coins that's why they also survive this long in the market. because if no one or only few are supporting this type of alt, i guess by now they are barely surviving or in the stage of dying. but look at xmr, zec or dash, they are considerably old alts and still doing good in the market, actually much better than most new alts. im not seeing them to be phased out soon. they will surpass this challenge and who knows, they will gain more supporters in the process?

The problem with all anonymous coins is their anonymity. All this is contrary to the interests of the state and the financial system. From the classic problem of financing terrorism and drug trafficking, to the lack of financial control, and a large number of fraudulent schemes. So anonymous coins seem to be killing themselves ...

Not so many people are using privacy coins for their real purpose, many invested in privacy coins for long term or short term profits, I believe that only those who have something to hide are fully into privacy coins for it's anonymous capability, can be hackers or criminal, who else would want to cover their own tracks when they don't have anything to hide?

Despite the fact that governments of different countries prohibit the trade of anonymous coins, they are still in demand among investors. And we can see this in the example of the recently delisting of XMR, ZEC and DASH coins, which have fully recovered in price after the dump.

To be frank, although privacy coins are facing issues which warrants them to be delisted from exchanges, but yet I do not think it will come to the level where they will totally vanish and cease to exist. What I rather think is that, many exchanges might delist them in order to be compliant to the regulation of the country they (the exchanges) are based on but there will still be some exchanges that will keep trading them. Also from another point, this might give some team an opportunity, that is, we won't be surprised when some developers might create a decentralized exchange solely meant for trading of privacy coins, if such idea is implemented it will spark a lot of attention and of course will give privacy coins the chance they need to grow; this is just an idea I think that can work. Lastly, this time around, it will expose the privacy coins that are worth it and those that are not.

I think the only threat for them if some serious and robust privacy update will be implemented in bitcoin, so bitcoin will become private coin itself.

I believe also that they can keep their market. Not all crypto-exchanges are under the strict regulations of those government who are after for these privacy coins. After all, the aim of crypto is to be anonymous and these coins are just catering such purpose. They already survive this long enough just to be eradicated in crypto market. They are serving a unique purpose among crypto users.

I think privacy coins will survive. They won't be so big and so popular as bitcoin and other major coins but they have a niche for small and cheap private payments.

I like privacy coins but I hardly use them for their main purposes, since 2016 that I've been into crypto payments and mining I've never send out transactions using anonymous mode of whatsoever, infact I don't see any usefulness for me using anonymous transactions, why would I have to hide my transactions ? 🤔 No reason

Not that anonymous cryptocurrencies like monero, dash and zcash were delisted from big exchanges, only United States exchanges. These cryptocurrencies will be still listed on all other big exchanges that are not from United States. Also I am not sure if it is all exchanges in United States that will delist the coins. But I just wrote the topic because it will be difficult more if exchanges from all countries joined in delisting these anonymous coins, but let us wish it will not happen.