Bittrex delisting XMR, DASH and ZEC. Will this affect Bitcoin?

[imstillthebest]

this sounds simillar to the thread with a title " coinbase delist xrp , will this affect bitcoin " not sure if is that also you who open that thread or another member .

 its not bitcoin that is getting delisted why it will affect btc but they say that btc will show an increase because if those alts get delisted , investor that invest on those coins will move on and possible consider bitcoin leading for btc to have an increase in its price .

is the removal of those alts also relate with sec same as xrp?

[20kevin20]

There's one very easy solution to this problem:

1. Withdraw all crypto from your accounts
2. Install Bisq
3. Enjoy trading without fear of restrictions and bans!

Now to answer the title of the topic, this only further proves that my earlier thoughts about improving default privacy through BTC are slowly being confirmed: hostility against privacy is a thing of the near future and if we ever push BTC into the privacy zone, it'll be significantly affected since everyone will want to jump out of the falsely advertised "criminal's" boat.

I actually have a new thesis for what's actually going on: we already know that Bitcoin will most likely have a better privacy by default than it currently does. I doubt the institutional investors don't know about it; what if they're actually purchasing a huge load of BTC only to allow the usual bull cycle to happen while actually waiting for those new privacy features to be added so that govs come with heavy hostility against BTC and all those billions of USD pushed today by institutional investors in BTC are going to be dumped all-in-one?

[ChrisPop]

I'm curious what is the reason behind the removal of these cryptocurrencies. Hopefully authorities haven't made some orders regarding the trading of anonymous cryptocurrencies. These coins have more than decent volume and they're veterans in the space so it wouldn't make sense for Bittrex to delist them from a business point of view.

[BayAreaCoins]

I think having exchanges dump you is just part of the ride...  Most of these exchanges are just wanna be banksters that will eventually evolve... I don't think cryptocurrency is tied to the hip of traditional banking (and that's a good thing).

Accepting fiat is profitable, but comes with a lot of bullshit.

FreeBitcoins.com's XChange is happy to support XMR, DASH, & ZEC with our Bitcoin based markets.

[Walterhank]

I think delisting these coins are not good if you look at the entire industry. Otherwise, I don't it will impact Bitcoin and if the Hodling continues then nothing can stop BTC.

[Lucius]

It was only a matter of time before things like this started to happen, because if some politicians and bankers consider Bitcoin dangerous in the sense that it encourages criminal activity and makes it harder to combat it - then what can we expect from the same people to say about cryptocurrencies that have a much higher degree of anonymity? Fortunately for them, the vector of attack on such cryptocurrencies is very simple - first you put pressure on crypto exchanges to remove them, then you start making accusations against the owners and finally you legally declare them illegal in every sense. Of course, this does not mean the end in the sense that these coins will cease to exist, it will only be more difficult to trade with them, at least as far as centralized exchanges are concerned.

Bitcoin is on its way, I do not see any bad consequences of these moves on the further development of the situation in terms of continuing the positive trend.

[stompix]

If I were to manage or run an exchange...

But you're not!
It's easy to comment on the side but when you're caught in the middle and you're facing fines and even worse things all the toughness melts away and is its turn to hide away in its momma's basement. Big exchanges make a lot of money from trading, dropping a pair that barely makes it to top 10 volume while still keeping friendly with the authorities is the way of survival, when you already make millions it makes no sense to act like a hero, real heroes don't come back from battles.

They are now resorting to other means of hopefully bringing them down. And just like their past attempts, and even huge bounty on cracking Monero, these recent steps wouldn't make these privacy coins worthless. As a matter of fact, all these attempts from government authorities are actually adding more weight to these coins' existence, making their arguments more valid than ever, although they also push them underground.

Yeah, pushing them underground with no exchange, no cashflow, no real-life utility...what will the price be at that time?
Let's have a little imagination exercise and let's look at bitcoin with no exchanges, no ATMs, no Paypal, no Grayscale, no shops accepting it, just dark market usage. What tag price you pin on it?

[kentrolla]

We BTC is in extreme peak we should not worry about it, I agree most of the exchanges are delisting many coins especially XRP as become a scapegoat just because of US SEC news. Now holders are exiting from many alts and focusing in BTC that's how it is gradually increasing. I think this is an advantage for BTC as well as trust plays a important role.

Right now BTC has been a absolute gem and many and many are investing more money so need not to worry about dump just keep on watching the price of BTC it is all set to touch 30k.

[Smartprofit]

That was expected because of the SEC pressures from those platforms that were based or have a business operation in the US territory, the Monero's privacy-centric features were considered by US SEC and other agencies as a potential threat to their operation because of its superb privacy function. and we are not surprised if many other exchanges will follow that move sooner or later.

Monero (XMR) reacted to the news with a drop to 0.0045 BTC.  The delisting of anonymous coins was carried out not only by the Bittrex cryptocurrency exchange. 

Also, trading in private coins was discontinued by the Australian branch of the cryptocurrency exchange Binance:

https://youtu.be/p9OInPf53ZU

In the short term, this news did not affect the price of bitcoins.  It is likely that as a result of this delisting, the capitalization of private coins will decrease, while the capitalization of bitcoins, on the contrary, will increase. 

We see the desire of regulators and institutional investors to turn Bitcoin into a new type of financial asset that will not look like a traditional crypto.

[TedMosby]

I wish I see this thread before. I have already bought ZEC a few hours ago. 
I am a simple person, I see a big red, I buy.
same like other members, not sure about this delisting. Can anyone make a short summary about it?
so, is this how the government will make the crypto market crash this year by taking out privacy coins from the market?

[0t3p0t]

This will only affect all the privacy coin listed on US-based exchange though some exchange might follow but it just that. More people will still use privacy coin.

Since a privacy-coin user will always use a privacy coin no matter what happens especially if the government make a move against it.

I agree. Only centralized exchanges can delist those privacy coins and still privacy coin investors and users can freely interact with the ever growing community of privacy coins where they can trade or swap. This move will really affect the market flow of these privacy coins due to restrictions however this will add liquidity to Bitcoin since some hodlers might shift for safety though not all of them because some will still prefer privacy coins despite the current situation.

[Shasha80]

This is shocking news to me, because there is no explanation why suddenly several large exchanges such as Bittrex and Binance in Australia
delisted privacy coins. Maybe this is related to political issues or illegal activity, we know that some countries feel threatened by the existence of
privacy coins which are considered to be widely used for illegal activities.

So in the end Bittrex and Binance made this decision based on orders from the Australian government. Although all privacy coins are delisted
from Bittrex and Binance, I'm sure it won't have any effect on Bitcoin,  it might cause the Bitcoin price to go higher. Because there are several
privacy coins holders that transfer their funds to Bitcoin.

[tranthidung]

Probably XMR, DASH and ZEC investors ->> BTC? it's going to be a win win situation for us.

Bitcoin is a King and dominates the market. You can exclude those privacy coins and think of DeFi tokens. Bitcoin does not need any crash or collapse from DeFi tokens to dominate the market. Bitcoin investors invest in bitcoin because they have some sort of belief in bitcoin decentralization, its fixed deflationary total supply and future higher demands on bitcoin. They don't invest in bitcoin because they feel bad with altcoins (at least it is not their main reasons).

Capital from those coins can switch to bitcoin or to other altcoins.  

They're not really taken away from us. They failed to break these privacy coins. They are now resorting to other means of hopefully bringing them down. And just like their past attempts, and even huge bounty on cracking Monero, these recent steps wouldn't make these privacy coins worthless. As a matter of fact, all these attempts from government authorities are actually adding more weight to these coins' existence, making their arguments more valid than ever, although they also push them underground.

They will come back, I believe. It is almost similar story for bitcoin. How many times governments try to shut down bitcoin and mixing serivces but the price of bitcoin today is a strong evidence of governmental failures (with their fiats and their attempts to break down bitcoin).

If you think those privacy coins are good technically and governments force exchanges to delist those coins, it is unofficial announcements of success for those privacy coins.

Personally, I expected to see those negative things in early or middle of 2019.

CipherTrace Files Two Monero Cryptocurrency Tracing Patents
SEC Awards Over $1.6 Million to Whistleblower

[acener]

I think if it would affect Bitcoin it would be in a good way for BTC,
Those who owns some crypto that would be delisted would surely convert their holdings into other crypto and the best choice for them could be BTC or other Top crypto.
I think BTC would get more pump because of the delisting of other crypto.

[Sithara007]

If I were to manage or run an exchange...

But you're not!
It's easy to comment on the side but when you're caught in the middle and you're facing fines and even worse things all the toughness melts away and is its turn to hide away in its momma's basement. Big exchanges make a lot of money from trading, dropping a pair that barely makes it to top 10 volume while still keeping friendly with the authorities is the way of survival, when you already make millions it makes no sense to act like a hero, real heroes don't come back from battles.

They are now resorting to other means of hopefully bringing them down. And just like their past attempts, and even huge bounty on cracking Monero, these recent steps wouldn't make these privacy coins worthless. As a matter of fact, all these attempts from government authorities are actually adding more weight to these coins' existence, making their arguments more valid than ever, although they also push them underground.

Yeah, pushing them underground with no exchange, no cashflow, no real-life utility...what will the price be at that time?
Let's have a little imagination exercise and let's look at bitcoin with no exchanges, no ATMs, no Paypal, no Grayscale, no shops accepting it, just dark market usage. What tag price you pin on it?

Can't put it any better than this. The current bull run can be almost solely attributed to the mainstream adoption of Bitcoin, especially by platforms such as PayPal and Square. If Bitcoin is pushed underground, then I believe that the exchange rates would be less than 1/10th of the current levels. And you are right about taking an aggressive stance against the authorities. BTC-e tried to do that, and it didn't ended well for them.

[pooya87]

The current bull run can be almost solely attributed to the mainstream adoption of Bitcoin, especially by platforms such as PayPal and Square.

I don't think so.
The "current bull run" started about 2 years ago while these "mainstream" dudes started recently. Additionally platforms such as PayPal aren't buying bitcoin every day, they don't even let people deposit/withdraw bitcoin, they aren't even trading bitcoin there! They bought bitcoin a while ago and if they sell THAT to people it still isn't affecting the bigger market that the price is decided in.

So how can an IOU trading platform that is not even linked to the real world's bitcoin market can affect bitcoin price?

[Hobo66]

It may affect Bitcoin, but it's early to draw any conclusion. One can assume that after delisting privacy coins Bittrex' customers will switch to Bitcoin, so the price will go up.

I don't think this will be the case. if Bittrex delist privacy coins then those privacy coins investors will more to another exchange. they just don't switch to Bitcoin like that. it is not the way to force people to switch to Bitcoin.
it's not good for bitcoin and crypto and it does not work like that. all those privacy coin lovers will simply leave bittrex and start with another exchange. it is not a big deal for them to delist from one exchange. there are hundreds of other exchanges to use.

[stompix]

I don't think so.
The "current bull run" started about 2 years ago while these "mainstream" dudes started recently.
So how can an IOU trading platform that is not even linked to the real world's bitcoin market can affect bitcoin price?

This is what you want to believe, not what is happening!
You're biased from the start because you don't like PayPal you don't like their PPBTC but for the average Joe, it's a different story.

What the people who have not heard of BTC before and never bothered with the whole open account, exchange, send to the wallet, PP offers a simple way of owning something that would bring them money., they don't care about keys about fees about hacks, all they know is that if they would have bought 100$ worth of that now they have 200$. And people like that are millions, people who care about their keys about all that are thousands.

Like it or not PP has brought a lot of hype and thousands have bought coins with them, you can see tens of examples even here, in the bitcoincultist lair, do you imagine how the balances outside this, where people are not that biased?
There is a tiny difference between not liking it, as I don't do either, and denying it.

[Smartprofit]

It may affect Bitcoin, but it's early to draw any conclusion. One can assume that after delisting privacy coins Bittrex' customers will switch to Bitcoin, so the price will go up.

I don't think this will be the case. if Bittrex delist privacy coins then those privacy coins investors will more to another exchange. they just don't switch to Bitcoin like that. it is not the way to force people to switch to Bitcoin.
it's not good for bitcoin and crypto and it does not work like that. all those privacy coin lovers will simply leave bittrex and start with another exchange. it is not a big deal for them to delist from one exchange. there are hundreds of other exchanges to use.

Every morning I look at the price of three cryptocurrencies - Bitcoin, Ethereum, and Monero.  And what do I see?  Bitcoin and Ethereum prices are rising.  Monero's price falls.  Currently 1 XMR = 0.004 BTC. 

For any cryptocurrency, liquidity is important.  The removal of Monero from cryptocurrency exchanges is an expected event.  However, this event negatively affected the price of this coin.  For Bitcoin, the delisting of Monero from the Bittrex cryptocurrency exchange is rather a positive event.  Monero is a potential competitor to Bitcoin. 

Private coins are going through difficult times right now.

[fauzan123]

That was expected because of the SEC pressures from those platforms that were based or have a business operation in the US territory, the Monero's privacy-centric features were considered by US SEC and other agencies as a potential threat to their operation because of its superb privacy function. and we are not surprised if many other exchanges will follow that move sooner or later.

It looks like the start of the year is not very good for some altcoins that are experiencing problems, like XRP and even some have bad issues. But for the delist on Bittrex itself, I don't think it has a big impact on the movement of bitcoin, because the rating of this Exchange is also quite medium, so it can't be said to have a big impact either.