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Author Topic: The fate of privacy coins - crypto surrenders to the government?  (Read 9483 times)

Offline jhm

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Re: The fate of privacy coins - crypto surrenders to the government?
« Reply #15 on: March 11, 2021, 06:27:08 PM »
"Certain crypto assets, which are often referred to as privacy coins, private coins or anonymous coins, attempt to hide information about transactions, giving users more privacy.

A number of possible methods exist for adding privacy to Bitcoin, including peer-to-peer trading, although multiple crypto assets focus on privacy more directly via their technology.

Government overwatch on privacy coins has grown in recent years, as shown in part by the IRS’ efforts against Monero’s technology. Privacy coin references also surfaced in the U.S. Financial Crimes Enforcement Network’s proposed regulation on self-hosted crypto wallets in December 2020."


Great question. The overall fate of privacy coins is uncertain. Government intervention, or not. There is even a bounty to try cracking Monero, by government. Time will tell

Article: What are privacy coins and how do they differ from Bitcoin?

We all know some of the advantages of crypto: decentralization, high speed, low cost, and anonymity. XMR, ZEC, XVG have been supported by the community because they are privacy coins, that is, no one can know the information relating to the transaction.
Recently, however, under pressure from exchanges and governments, we have seen DASH deny its own anonymity feature. The Bitcoin community seems reassured because BTC is not a privacy coin.

I really don't understand this. As far as I know, crypto revolutionizes against the manipulative hands of governments, but it seems that under the pressure of regulation and community greed we forget the purpose of the revolution. This is only for our coin/token to be accepted.
I understand that project teams need to find a way for their coins/tokens to exist in the market, but when we surrender to the government, I feel sorry for Satoshi Nakamoto.

What happens next with privacy coins? Will the crypto community continue to support them or are they just silently watching them continue to be crushed by the government?

Great question. Government intervention or not, I believe privacy coins will exist. There is a bounty to crack Monero, by government. It may not be favoured, but we'll see

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Re: The fate of privacy coins - crypto surrenders to the government?
« Reply #15 on: March 11, 2021, 06:27:08 PM »

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Offline ScalpWithMe

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Re: The fate of privacy coins - crypto surrenders to the government?
« Reply #16 on: May 30, 2021, 01:02:57 PM »
Because of thus criminals in many countries are making it illegal to trade crypto.
When you mention criminals - you are referring to governments right?
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Offline spiderlee

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Re: The fate of privacy coins - crypto surrenders to the government?
« Reply #17 on: July 16, 2021, 12:11:46 AM »
What happen to the privacy coin and tokens now? they are left behind, they are not pumping the price is very slow to go up
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Offline Fenix

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Re: The fate of privacy coins - crypto surrenders to the government?
« Reply #18 on: December 29, 2021, 06:29:53 AM »
If someone believes that cryptocurrency can develop on its own, without taking into account the interests of states and their governments, then they are very deeply mistaken and ultimately will be disappointed. States are forced to pay attention to the growing role of cryptocurrencies and especially to the fact that more and more capital is being invested in it, the flows of which they cannot control. This circumstance disrupts the normal operation of their financial system. Therefore, over time, they will be forced to more strictly regulate the circulation of cryptocurrency and call cryptocurrency exchanges and exchangers to identify participants in the cryptocurrency market if the transaction amount exceeds certain limits. Now FATF it is set at one thousand euros.
Therefore, coins of anonymity will be gradually banned and will be used only in settlements between citizens.

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