Post
Topic
Board Altcoin Discussion
Re: The fate of privacy cryptocurrencies
by
Shallow
on 10/01/2021, 09:57:12 UTC
In this regard, privacy coins are coins that can not be tracked, unlike bitcoin which have a transparent ledger called blockchain which allows each bitcoin transaction to be tracked using address for example, privacy coins can not be tracked, sending such coins from one address to another can not be traced. Because of this it is said that these coins can be used to launder money and also can be used by terrorists in financing their missions. There are now threats that privacy coins like monero, dash and zcash will be delisted from exchanges as some exchanges have being delisted these coins already too, also that there are possible threats from governments to make sure such cryptocurrencies will no longer be existing.

What is the fate of privacy coins? I am thinking these type of coins will find it difficult and can later all vanish and exist no more.

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 aren't.