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Author Topic: Will the governments ban all privacy cryptocurrencies ?  (Read 2256 times)
Haiduongbg
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March 25, 2018, 07:49:14 PM
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I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
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cryptopussies
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March 25, 2018, 07:53:19 PM
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I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
Not going to happen because the main aim of cryptocurrencies are decentralization ,two anonimity and freedom with your transactions.Doesnt make sense why would these countries will ban privacy coin and why others altcoins wont? if they want cryptocurrencies to collapse why not do it in just one global ban? if they ban privacy coins morelikely they will ban all the cryptocurrencies.

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Haiduongbg
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March 25, 2018, 07:59:31 PM
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I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
Not going to happen because the main aim of cryptocurrencies are decentralization ,two anonimity and freedom with your transactions.Doesnt make sense why would these countries will ban privacy coin and why others altcoins wont? if they want cryptocurrencies to collapse why not do it in just one global ban? if they ban privacy coins morelikely they will ban all the cryptocurrencies.
I read an article that Japanese government pressure coincheck into delisting Privacy Coins Monero, Dash, and Zcash. I'm afraid that many other exchanges will follow suit when government tighten the regulations. For other cyptocurrencies, you can know who send, so you can blacklist those suspicious accounts in the database, but for privacy coins it's impossible. For that reason, it's likely ban will happen.
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March 25, 2018, 07:59:46 PM
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Anything is possible but cross-chain decentralized exchanges supporting multiple currencies will make banning crypto a symbolic yet practically pointless gesture.  
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March 25, 2018, 08:02:13 PM
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Think it yourself is it possible? I think that this is simply not possible, probably they will try to do it, but unfortunately it simply can not be done, because the network is a very smart space.
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March 25, 2018, 08:02:36 PM
 #6

If any governments can't controle DNS servers then they can't controle nodes of private currencies.
cryptoux
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March 25, 2018, 08:05:05 PM
 #7

Our market wont be completed without these privacy coins,that is why it is called privacy coins because they are giving us anonimity with each trasactions it gave us a lot of freedom to transact anywhere without risking our identity,if these countries will ban or restrict these countries it would be much better if they did ban all of these cryptocurrencies because it is the same thing what will happen if they are going to restrict privacy coins!

Haiduongbg
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March 25, 2018, 08:05:55 PM
 #8

Think it yourself is it possible? I think that this is simply not possible, probably they will try to do it, but unfortunately it simply can not be done, because the network is a very smart space.
Why do you think it's impossible for governments to prohibit exchanges to list privacy coins?
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March 25, 2018, 08:06:18 PM
 #9

I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
Who knows... I think they  want to do it but they really can't. So they can't prohibit developing crypto. And there's a lot of decentralized exchanges and we can do P2P deal at least.

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March 25, 2018, 08:07:26 PM
 #10

I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
Not they can't ban some tithing if it is legal, if it's illegal then, yes they can ban it! All they want to do, is regulate cryptocurrency and make it be or less be in control and less volatile, as right now no ones is regulating and it is posing some financial risk to the financial sector! I hope it will get regulated as soon as possible and then we are going to benefit all, of course big whales are against that and turning the market against it, but trust me, in my opinion it is very good, if it gets under financial/governmentl control

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March 25, 2018, 08:08:22 PM
 #11

I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
The whole reason why governments haven't accepted cryptocurrency yet is because of the anonymity that they are based on, it is true that cryptocurrencies protect your privacy and keeps your identity safe, but imagine people using this for the wrong purposes, like money laundering, you could have billions and billions of dollars of drug money, gun trafficking and all sorts of illegal acts's money being put into cryptocurrency and moved around like it was nothing, and this is one of the biggest issues that governments have with privacy coins, and that is why they are thinking of banning them.

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Haiduongbg
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March 25, 2018, 08:09:12 PM
 #12

Anything is possible but cross-chain decentralized exchanges supporting multiple currencies will make banning crypto a symbolic yet practically pointless gesture.  
It'll take some times before we have cross-chain decentralized exchanges, now we only have on-chain decentralized exchanges, it seems that nex is working on cross-chain dex.
fempat
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March 25, 2018, 08:10:21 PM
 #13

They have a good reason to do so especially considering the cyber crimes lurking behind the dark web. However, they should be aware that the essence of cryotocurrency is to ensure privacy. If there's a way they can manage their way around these two scenarios, I think this will be best for them.

Haiduongbg
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March 25, 2018, 08:12:31 PM
 #14

I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?
The whole reason why governments haven't accepted cryptocurrency yet is because of the anonymity that they are based on, it is true that cryptocurrencies protect your privacy and keeps your identity safe, but imagine people using this for the wrong purposes, like money laundering, you could have billions and billions of dollars of drug money, gun trafficking and all sorts of illegal acts's money being put into cryptocurrency and moved around like it was nothing, and this is one of the biggest issues that governments have with privacy coins, and that is why they are thinking of banning them.
As I know, many countries are joining force to build a database of blacklisted cryptocurrency addresses, all exchanges will not allow those addresses to deposit in the future. But it's impossible to backlist privacy coin addresses.
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March 25, 2018, 08:12:42 PM
 #15

I'm considering to buy and hold some privacy coins for long term. I read some articles and they said governments are taking harsh stances on privacy coins. Do you think they will ban all privacy cryptocurrencies by prohibiting exchanges to list those coins?

Even if governments ban privacy coins that will only make it a bit more complicated purchasing and selling them for fiat, because you would need to convert it into another crypto first. Also, it is nearly impossible to ban decentralized exchanges without destroying crypto in general.

Nevertheless, you should be ready for some temporary turbulence in case some authorities attempt to pressure on people behind some of privacy coins. Coins based on CryptoNote technology (Bytecoin, Monero) are alleged to be under the spotlight of intelligence agencies because they are often used for laundering stolen funds. For that reason, some exchanges may block you if you deposit a huge amount of, say, bitcoin and withdraw it exchanged in Monero.
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March 25, 2018, 08:14:03 PM
 #16

Everything is possible, that they will not prohibit, but regulate. My opinion is that they will not be able to do it, but still if they start taking measures, it will affect the market as a whole, now it is just the moment of waiting
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March 25, 2018, 08:18:44 PM
 #17

As long as you got access to 1 crypto currency, It doesnt matter whether they ban them or not.  They can't say yes to some crypto and no to others. Even if they decide to ban them all together, crypto can still survive. On a much smaller scale than what it is now of course.

If the goverment banned monero today, would all the exchanges drop monero right away? Would you stop buying immediately?

Torrenting movies/games/tv shows are all illegal but we do it anyway.

There isn't a prison big enough to put half of a country in.




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March 25, 2018, 08:20:54 PM
 #18

This is ridiculous,how would they ban these privacy coins and not other cryptocurrencies? doesnt make sense at all if they want these privacy coins be banned why not all the cryptocurrencies? anonimity is the main reason why most of the people are using cryptocurrencies why would they take that away from us? we not need the government for this!

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March 25, 2018, 08:24:48 PM
 #19

I don't know if the government can do that if they have the power to ban the privacy of crypto currencies, they should only limit or give their rules and regulation so that they don't abuse it.
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March 25, 2018, 08:26:25 PM
 #20

Anything is possible but cross-chain decentralized exchanges supporting multiple currencies will make banning crypto a symbolic yet practically pointless gesture.  
It'll take some times before we have cross-chain decentralized exchanges, now we only have on-chain decentralized exchanges, it seems that nex is working on cross-chain dex.

Yes, and I believe there are at least a couple that will use atomic swaps.  When you take the tiny percentage of the people trying to use for nefarious purposes, an outright ban is equivalent to using a nuke to kill a small group of rodents.  

Besides, why ban it outright when you can case study it and silently exploit potential hidden vulnerabilities in the code and elsewhere?
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