Bittrex delisting XMR, ZEC and DASH

[Wulan_maniez]

Bittrex delisting such famous coins may be for several reasons, which we do not know why, because we are just outsiders who know
nothing about what is happening in Bittrex management. But I don’t feel worried because in many  exchanges  Dash, XMR  and ZEC
it still lists coins, so for those who want to trade those coins can do so on other exchanges.

[Billo_]

It is a very huge blow to privacy coins, but privacy coins don't need centralized exchanges to survive.
A privacy coin should provide privacy and buying a privacy coin on a centralized exchange is not how it works.

It is only bad for price. Privacy coins need to develop better concepts to be bought or sold on DEX.

[imstillthebest]

It is a very huge blow to privacy coins, but privacy coins don't need centralized exchanges to survive.
A privacy coin should provide privacy and buying a privacy coin on a centralized exchange is not how it works.

It is only bad for price. Privacy coins need to develop better concepts to be bought or sold on DEX.

what concept they need to add  ?

privacy is already the main concept of those coins but why not ? adding more concept to the existing coins can make them more catchy and if it gets noticed , the coins value can recover  .

 privacy coins do always have a special place on decentralized exchanges if ever all centralized exchanges delisted them with or without the need for a new concept . dex is where they really belong not on cex but you know the cryptoers today they value the cex market more than the dex

[RussianEnglishTranslation]

On January 15, anonymous coins XMR, ZEC, and DASH will be delisting with Bittrex exchange: https://twitter.com/BittrexExchange/status/1345056010981892096. The market has already reacted to this news by reducing the value of these coins.

"After the markets are removed, Bittrex generally seeks to provide users up to 30 days to withdraw any delisted tokens, but in certain instances the withdrawal period may be shortened. Users should withdraw any tokens before the posted withdrawal deadline". https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21

How do you feel about the news that Bittrex has prepared for us on January 1, 2021?

Monero can be tracked, blacklisted, and delisted, 0xMonero is traded on decentralized exchanges and cannot be delisted.

[poodle63]

They are based in US and I assuming that everyone would expect this to happen after all the fuss about the US government considers these privacy coins as a problem.
I wonder what's gonna happen to all the exchanges outside the US but I think in the future all the US citizens will be forbidden from using such privacy coins by the US based exchange. Gonna be a tough time for these privacy coins I guess.

[celot]

Big coins delisting on Bittrex, some time we don't know why bigger coin can delisting on exchange market without get any trouble before, I can accept like RIPPLE delisting because investigate by SEC but how come XMR, ZEC and DASH could delist with get any problem from exchange and owner coin, maybe for the future have good contract management between bittrex and owner coin without have illegal issues or bad news from coin never have way for delisting coin on exchange market.

[coindefi]

Wouldn't be a news anymore.Following the delisting of xrp, and now this. I wonder what the users and holders of these coins are feeling now...Just a thought.

[care2yak]

We’re headed to a world where privacy will no longer be legal... 🙄

[poodle63]

I really do not understand what underlies them delisting top altcoin motivation such as XMR, Dash, and Zec, of course this is a heavy blow to the community or altcoin holders, even though many exchanges are still listing privacy coins, bittrex does not give reasons, and this makes people angry

The reason is there. Bittrex is afraid of the US government taking whatever action against these privacy coins. It's obvious that bittrex is trying to comply with the government and probably just waiting for the right time to decide whether to list it again or not.
There's reason why trading in bittrex is so complicated and requires so many things to be completed thats because they are based in the US and the US government dont like privacy coins. heck even in google if you search "bittrex" there's saying bittrex follows american law very closely.

[qwizzie]

They are based in US and I assuming that everyone would expect this to happen after all the fuss about the US government considers these privacy coins as a problem.
I wonder what's gonna happen to all the exchanges outside the US but I think in the future all the US citizens will be forbidden from using such privacy coins by the US based exchange. Gonna be a tough time for these privacy coins I guess.

All exchanges outside the US I don't think will bother with privacy coins, for example Binance is not concerned with privacy coins and Binance is not delisting privacy coins,
If I look at it, it's time for privacy coins to upgrade the network, like XCASH coin, XCASH network offers both privacy and public so it is more flexible when compared to other privacy coins.

As does Dash, remember Dash is a fork from Bitcoin so it too has a public viewable blockchain and provide optional privacy on its transactions if users choose for that.

With Bitcoin that optional privacy happens through Bitcoin Privacy wallets, that connect to Tor and create CoinJoin transactions on the Bitcoin network
With Dash that optional privacy happens inside the Dash Core wallet, that create CoinJoin transactions on the Dash network (Dash just calls those PrivateSend transactions)

With Dash those CoinJoin / PrivateSend transactions are currently between 1-3 % of all transactions (there rest are all public transactions, fully tracable)
Source : https://dashradar.com/charts

With Bitcoin those CoinJoin transactions were 4% of all transactions in 2019 (there rest were all public transactions, fully tracable)
Source : https://bitcoinmagazine.com/articles/percentage-coinjoin-bitcoin-transactions-triples-over-past-year#

Difficult to regard Dash as a privacy coin, when Dash has less CoinJoin type transactions on its network then Bitcoin (assuming that CoinJoin usage on the Bitcoin network
has grown since 2019, which is not unreasonable to think with the popularity of Bitcoin's Privacy wallets, like the Wasabi privacy wallet).

Bitcoin CoinJoin transactions will likely grow even more, when scaling solutions like these get implemented : https://www.coindesk.com/statechains-scaling-solution-new-potential-bitcoin-privacy

[oprahwindfury]

It is required since Bittrex needed to follow the rules of SEC. I think it is insightful for them to act one stride ahead before an issue happen. Mysterious coin had been in a tight spot and since SEC had given an illustration of suing XRP.

[qwizzie]

It is required since Bittrex needed to follow the rules of SEC. I think it is insightful for them to act one stride ahead before an issue happen. Mysterious coin had been in a tight spot and since SEC had given an illustration of suing XRP.

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

[mu_enrico]

I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

[Renampun]

I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

right, as usual, the government wants everything under their control...
This is a weakness of CEX, where government regulations are still the determinant of the future. Bittrex is afraid their business will not be safe if it continues to allow anon-coins to be on their exchange. *delisting will only bring down their exchange users.

[ahoenk]

We are now start to lose to regulation, the reason privacy coin going to be delist from exchanges in the us because they can track the asset so there is possibilities to become money laundry tools, and also the most important thing is they can not tax the owner of coin. But the exchange outside US is still safe from this thread.

[Welsh]

I told you guys governments don't want anon coins. It's a matter of time that we can only exchange these anon coins in small exchanges or DEX/uniswap.

Not all governments, but it seems western countries in particular America, and UK are particularly fond of putting pressure on businesses to adopt KYC, and this likely wasn't a decision that Bittrex would have chose without being pressured by that ruling. After all, I suspect that they'll lose a decent portion of customers because of this decision.

We are now start to lose to regulation, the reason privacy coin going to be delist from exchanges in the us because they can track the asset so there is possibilities to become money laundry tools, and also the most important thing is they can not tax the owner of coin. But the exchange outside US is still safe from this thread.

Rather than losing the war to regulation, you'll likely see more P2P decentralized exchanges which won't stick to KYC as much as companies are forced to do.

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

This is interesting, what's the general consensus on the reason it was removed?

[qwizzie]

Following the rules of SEC does not require the delisting of Dash. Otherwise all US exchanges would have delisted Dash by now.
Dash fully complies with FATF & SEC guidelines : https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

Bittrex is delisting Dash for other reasons.

This is interesting, what's the general consensus on the reason it was removed?

https://twitter.com/RTaylor05/status/1345158205685436416

[Billo_]

It is a very huge blow to privacy coins, but privacy coins don't need centralized exchanges to survive.
A privacy coin should provide privacy and buying a privacy coin on a centralized exchange is not how it works.

It is only bad for price. Privacy coins need to develop better concepts to be bought or sold on DEX.

what concept they need to add  ?

Independance from centralized exchange. Uniswap, for example, is trading legitly coins based on ETH currently. If privacy coins can be issued on decentralized exchange broadly, centralized exchange won't matter anymore for privacy coin. Privacy coin and exchange has never been good deal.

privacy coins do always have a special place on decentralized exchanges if ever all centralized exchanges delisted them with or without the need for a new concept . dex is where they really belong not on cex but you know the cryptoers today they value the cex market more than the dex

A very true statement. Decentralized exchange is king.

[Febo]

I see a lot of funny posts.
Centralised exchange are not dangerous to any coins but only to its users. To minimise that risk you need to be sure they are not scammers before you deposit coins to them  and as fast as possible after you trade your coins to withdraw them to your wallet. Centralised exchanges are of same use to privacy coins and to surveillance coins. There is no difference.  
One thing I totally agree. Privacy coins are not dependant on centralised or any exchanges. Since they have clear use case. Their use case is not just to be traded on exchanges but to be used in commerce.

[Legasches]

I see a lot of funny posts.
Centralised exchange are not dangerous to any coins but only to its users. To minimise that risk you need to be sure they are not scammers before you deposit coins to them  and as fast as possible after you trade your coins to withdraw them to your wallet. Centralised exchanges are of same use to privacy coins and to surveillance coins. There is no difference.  
One thing I totally agree. Privacy coins are not dependant on centralised or any exchanges. Since they have clear use case. Their use case is not just to be traded on exchanges but to be used in commerce.

Anonymous coins do not depend on any exchanges. But their price is formed on these exchanges as well. therefore the exclusion of these coins from the exchanges will most likely lead to a decrease in value..