Are Privacy Coins Already Dying? \ stacker news ~bitcoin

1519 sats \ 20 comments \ @Coinsreporter 28 Jan bitcoin

Privacy coins like Monero, ZEC and Dash are way underperforming in co-relation to Bitcoin and Ethereum. The most acceptable reason for this sluggishness is attributed to regulatory concerns over privacy coins. Many CEX have already delisted the coins of this niche and many others are also planning to do the same. Binance, which boasts the biggest liquidity for privacy coins, has decided to put these coins under monitoring subject recently. We can understand how big that a blow can be for these coins if Binance delists them from its platform. So, what do you think would be the future for privacy coins if every centralized exchange put them away? Will they survive the blow or become irrelevant?

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1247 sats \ 0 replies \ @billiam 28 Jan

I appreciate that Monero exists and for me it's not a shitcoin as it has utility (fast, anon payments, low fees). It's for spending (like L2), not for savings or hodling. It's a tool you should have in your toolbox.

35 sats \ 0 replies \ @KLT 28 Jan

I believe everything will trend to zero against bitcoin. It’s hard for me to believe that 50+ years from now Monery, ZEC, dash etc will be around doing anything useful for anyone.

10 sats \ 0 replies \ @JuanMiguel 28 Jan

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26 sats \ 8 replies \ @TNStacker 28 Jan

If one can do private transactions on Bitcoin side chain, Liquid, why use Monero, etc?

1230 sats \ 6 replies \ @JuanMiguel 28 Jan

Ilegal darknet markets. Nothing else. Liquid is not 100% private, private enough for majority of "normal" people, but not for the extreme ones.

21 sats \ 5 replies \ @TNStacker 28 Jan

I'd say "privacy enough for the majority of normal people" is the target market!

31 sats \ 4 replies \ @ek 28 Jan

The majority of "normal" people don't care about privacy at all though

811 sats \ 3 replies \ @TNStacker 28 Jan

They do. They just don't know it, 🤣and they don't want responsibility. 🥺

21 sats \ 1 reply \ @JuanMiguel 29 Jan

When SHTF normies will suddenly realize how important privacy is. But by then, it'll be too late for them, because becoming good in protecting your privacy takes time and effort.

0 sats \ 0 replies \ @TNStacker 29 Jan

Absolutely

0 sats \ 0 replies \ @ek 29 Jan

That is indeed a good point lol

21 sats \ 0 replies \ @OT 28 Jan

Liquid is still linked. Unannounced LN channels are good enough privacy IMO

57 sats \ 5 replies \ @OT 28 Jan

People using these coins shouldn't be buying them on CEX's. They are meant to be P2P

287 sats \ 1 reply \ @JuanMiguel 28 Jan

Even btc shouldn't be bought over an CEX.

0 sats \ 0 replies \ @OT 28 Jan

True!

0 sats \ 2 replies \ @Coinsreporter OP 28 Jan

But the volume suggests that they are still popular on Binance

0 sats \ 0 replies \ @JuanMiguel 28 Jan

Darknet Markets are huge. And they only accept Monero.

0 sats \ 0 replies \ @OT 28 Jan

Traders gonna trade

21 sats \ 0 replies \ @ama 28 Jan

I think they'll be around for some time, since there are people who find some use for them, I guess. Delistings will probably reinforce decentralized p2p exchanges.

Personally, I don't case about any of them. I like PoW transparency at the base layer and having privacy options on top of it, like coinjoins or MWEB on Litecoin; or built in other layers, like confidential transactions on Liquid.

0 sats \ 0 replies \ @nicosey 28 Jan

Maybe they just reflect the real size of the market they are in...