Bitcoin Forum

I'm here to discuss about new privacy coins, what new coin you have in mind that beats Monero in terms of new features and privacy? I choose Veil and Sero over Monero and I'm holding some bags if those two

and what do you think about the future of privacy coins? while privacy coins offer bad people a level of anonymity, the liquidity issues and barrier to entry for buying and selling privacy coins make them impractical for most dark market purchases, what do you think?

I think it is still in great demand in the future but not now. You know, although many governments try to stop in crypto trading, all efforts are ineffective. all of which were bought and sold through many banks without being detected. People suddenly realized that they didn't need money laundering because of the anonymous coins. Besides, privacy coin often has many holes and hackers can penetrate and steal it. There have been many exchanges in Korea that were hacked and stole quite a lot of privacy coins, especially XMR. On the contrary, it still has its advantages and Dash is showing the power of privacy coin. If possible, you can hold Dash instead of the other alts.

Privacy coins could be under pressure globally soon, Korean exchanges already thrown away some of them.

Maybe mixing should be more easier in coins where it is not private by default, see non-interactive mixer ErgoMix coming to Ergo, and some guys are doing BIP for SNICKER, non-interactive mixer for Bitcoin.

You don't have to be specific about the bad people let's generalize it as a whole. It offers the anonymity that everybody wants, be it good or bad people and this is an issue to some exchanges that's why they acted on it and delisted privacy coins like Monero.

The contenders are Dash and PiVX.

You should be aware that few exchanges are delisting privacy coins? Yep its really happening which is one reason I find it hard to hold XMR and others but still I have Apollo currency and dash sleeping in my wallet,I don't know how the future will turn out to be for privacy coins

For me, still GRIN. They didn't conduct an ICO at all for this project.
And also what I really admire on the GRIN is the mimblewimble protocol of it. And this is fresh, they just launched last year (2019 January) and I saw before, there was a huge donation from the person to the GRIN community/development team.
There being open-sourced project is nice, although they don't have yet gain much popularity.

Grin coin is not the only project that doesn't conduct ICO or any fund raising, Veil Project and Apollo currency did not raise any fund either and everything was done by the team, it shows more seriousness to me, look around you, most projects that was funded by investors end up dead or scam

Well, Dash does a great job at advertising itself as privacy coin, but it should not be in the list. I won't say more because I would go off topic.
Grin, on the other hand, IS interesting and it could be soon quite a competitor for Monero.

Yes mate, Grin.

I forgot about that coin. It's the first ever altcoin that was accepted as payment in the forum for the Copper Membership and it took theymos' attention.

I don't know much about Grin privacy coin but I've heard lots of good reviews from people on the internet, about veil I like the project not only because of the team but the stealth feature where you send coin without revealing anywhere on the block chain, that's awesome

People use Privacy coins mainly because of anonymity. If you want to buy privacy coins, you can choose one of the top privacy coins like Zcash, Dash, PIVX, Verge, etc OR you may check the top privacy coins based on the market cap here (https://cryptoslate.com/cryptos/privacy/).

Honestly new privacy coins might be the better choice because of upgraded features but I prefer holding top coins most especially bitcoin because it gives me peace of mind, if I lose value I won't break a sweat because it will grow up again

Uncertainty is sadly one of the reasons some of the early adopters of Bitcoin couldn't hold on to their shares and sold off that early, though in regret now. Uncertainty is a core of the crypto industry. As far as I am concerned, crypto business is a highly unmitigated industry at the moment. It's a risk thing. BTW, is there any business that isn't risky?

You can have strong security technology in a blockchain, but if you can not guarantee a secure website from which to download the binaries, then that will impact
your reputation as a blockchain.

Link : https://arstechnica.com/information-technology/2019/11/official-monero-website-is-hacked-to-deliver-currency-stealing-malware/

As long as no answer has been provided on how hackers got into Monero's boxed-off website and were able to replace Monero's official binaries with coin-stealing malware binaries,
i consider Monero compromised towards its users.

I am particularly interested in knowing what happened to the closed-off box that was sent by Fluffypony to a bunch of specialists for investigation more then two months ago,
as that could shed some light on how their official website was breached by hackers.

As long as this does not get clarified, there will always remain the risk that this could happen again with their official website. And the rumors about a Monero developer gone rogue or
a Monero developer having been negligent with his/her security access, will then also continue circulating.    

Privacy coins will always have their spot in crypto, since some of the backbone behind the creation of crypto has to do with anonymity.  I think there definately will be challenges to be accepted by governments across the globe due to the fear of privacy they have but inevitably they will exist and there really isnt anything any governments cant do about it.

The future of privacy coins looks uncertainty because exchanges are going against them, even its a threat for the government, I think privacy coins are good for dark web things only, this is a perfect tool for bad people if you ask me

DASH and Monero is the industry leaders, and I don't see that changing anytime soon.

A lot of people like privacy coins, because they are private to transact with, but whenever you use a centralized exchange, your identity is exposed (at least for incoming transactions, and how much you hold).

Decentralized exchanges, such as the Blocknet DEX: https://blockdx.com/ goes very well hand in hand, as your identity is never at risk of being shown. No accounts is needed to transact, no KYC is enforced etc.

Moving forward, I believe DEX's will evolve with privacy coins, and both of them being used a lot more than they currently are today.

I have used veil as an alternative coin for monero and that is a good coin for me. I doubt sero and just because it has already got a big hype that makes the price of sero goes to the moon doesn't mean that was even better than veil. We must try to create a fair comparison. in this case, to make sure if we are seeing based on the technical aspect from those coins.
The future of privacy coins will be very bright as more and more people will aware if privacy is something needed by them all.
That's not even a big surprise to see that the privacy coins are mostly used in the dark market. To make it anonymous and the privacy coins must be used for p2p transactions but when it still relies on the 3rd exchange site and it will not anonym as the people think.
As long as those from the dark market will never try to disrupt the crypto ecosystem and that's their own risk to deal or use the privacy coin for the criminal act.

Everyoen needs privacy. Even Korean government. I believe they need a lot of privacy since they dont really want  for North Korea government to know what they do.   I am also sure that when you go to toilet in a public place you always close doors behind you. Privacy have good use cases for everyone.

Have you checked out Particl?

Been using there Marketplace and they have a great escrow system making sure people work honestly together. 

Let me know if you have checked them out.

I have always opposed these anonymous coins because it is because of them there are a lot of questions that come from the government. Also, such coins are used by a large number of hackers to launder stolen money. therefore, before supporting and investing in anonymous coins, we all need to think a little about the consequences of the existence of these coins

The last time I read anything about veil was that they were looking for a patch or an alternative privacy protocol to zerocoin when a vulnerability was found out. What's the update on that? Did the developers found a solution?

I'm not sure about going off-topic since this thread is about privacy coins. I also wouldn't consider Dash as a contender here. If I am not mistaken, the privacy feature is only optional.

When the FATF travel rule came out, the team released some statements that I think any privacy coin enthusiast wouldn't like.

Do not forget what Fed Chairman Jerome Powell, so the USA government said only few days ago on the hearing:

https://i.gyazo.com/fe2593dfffe717e2dd818de5675d00c4.png

Transparent ledger cryptocurrencies not only that lack a basic trait of money, the fungibility, they are also against western culture and society. Maybe in China culture is fine that everyone can see what you spend money on in Europe and USA that is a no go. And everyone will avoid to use such currency. Fed Chairman Jerome Powell get that. What is most interesting is that he gets it before you and so many in crypto.

I believe that the future lies with an anonymous stablecoin. Who will be protected better than Zcash / Monero, and having liquidity better than USDT. I proposed the idea in the Russian local section, but they told me that nobody needs stable coins and so I go to hell. Funny of course.

If you're taking about privacy coins that have the potential to dominate monero, I don't think currently we have any. Just as we think there are decentralized blockchain that can disrupt ethereum which the likes of wave, neo etc have tired but failed. Pivx was one of those privacy coins I thought had the ability to overthrow monero although just like most hard forks, it's still leaving under the shadow of its parent blockchain.

About the future of privacy coins, it's only right to believe they'll get better with time. Bitcoin has failed in regards to protecting our identity especially as it's quite easy this days to track most especially as we now rely on third party service providers like wallet providers, exchanges etc to carry-out our daily transaction.

Now this market cap, in my opinion, cannot be our first reference, it is only one of our reasons for choosing a privacy coin, actually returning to the tactics of a developer who is really serious about carrying out project development going forward, to what extent and will be used for anything if you really want to compete with XMR.

Most of my altcoins holding right now are more of privacy coins because of their anonymous nature while hold. Even when the government wanted them not they are still the best coins to hold for long-term purpose, coins like monero and dash are my favourite and my ultimate coins am holding. These coins defined the sole purpose of cryptocurrency and not those that deflected from their sole purpose.

I think the future of privacy coins is still bright and good as it will always be in need within the crypto space because privacy will always be valued. The only thing to bother about is if new privacy coins will continue to live upto expectations. Monero is still seen as the best privacy coin till date because the team built it to be so, but for newer privacy coins the team are still working to prove they are a better option than Monero, i stand to be corrected though. Lastly, I know about Veil and Sero, and I think they are good too but I prefer Monero more.

Some exchanges (e.g. in South Korea) do not like privacy coins now. Thus privacy and non-privacy coins should become close.

A particular move in this direction is non-interactive mixing, see this thread: https://bitcointalk.org/index.php?topic=5249951.0

The problem with privacy coins is the Lightning Network because it is a smart way how to send instantly Bitcoins with a privacy feature, so for me now almost all privacy coins doesnt make a sense in my opinion.

Coins that have certain requirements when trying to make a transaction are protected. This is a security pattern that is owned by the coin. That is, many stages must be passed by someone if they want to use it as a means of payment.

In fact and it cannot be denied that most people still like to have BTC as a universal payment instrument rather than a privacy coin.

Yes Particl is a very good one and it is great that they have a marketplace also.


Sincerely,  GlobalProtection - Canadian Citizen living in Belize now