Shiba Inu turns into privacy coin like Monero or ZCash?

[Sethrey]

According to the latest news, the next 2 updates turns Shiba Inu into privacy coin:

• The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
• The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.
  

Is it on the whole possible to turn a regular coin into privacy one? And does that mean that its rate will now start growing?
   

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[passwordnow]

And does that mean that its rate will now start growing?

Possible if the demand surges and it's going to all lie down with that. An update for a project like this, if the interesting part is being made then you'll see if the investors are going to bite it.
I know that there are still a lot of investors for shiba and having such an update might keep on giving them hope that it will recover. And as we're approaching to the possible next bull run, nobody knows until we gotta see the pump after this news has been released.

[yazher]

If this is for real then their heading into some kind of positive thing considering the current situation of the centralized coins nowadays. That's right we need coins like that because of the ongoing updates that are little by little taking us our privacy again with the new updates. When remembering back then, the government are less occupied with what was going on with the crypto industry because they thought it was just some scheme that was used for scams. now that they see it's an earning opportunity for them, they put a heavy load on the people behind it and take huge actions on the projects that they cannot put their hands on. For example these privacy coins we have right now.

[Yogee]

It's an app developed by another team that allows you to send privately or anonymously right? It's not on the Shiba Inu's protocol level so you can't really compare it to the likes of Monero or Zcash. This is probably closer to sending ETH via Tornado Cash back when the app was still not hunted and sanctioned by regulators.

[vv181]

Monero has a privacy implementation enabled by default. It is truly on another level compared with Shiba. Shiba is a token, and the privacy benefit is only achieved if the user uses the third-party platforms mentioned here, though, the guarantee of it, is still shady since it hasn't been tested yet. Also, the way how the token built and the fact it relies on another blockchain tells it can't achieve privacy features as Monero does.

It's an app developed by another team that allows you to send privately or anonymously right?

Yes, it is. It also seems that it is a brand-new platform and I didn't find any source code for the applications. I would take extra caution and be wary when dealing with the platform.

[cabron]

Interesting update of this memecoin.
I did search for the info that OP is saying. Maybe this one will be it https://www.crypto-news-flash.com/new-feature-turns-shiba-inu-into-privacy-coin-like-monero-or-zcash-can-it-drive-shib-to-0-01/

We didn't expect Doge to also reach where it is right now but it made it. If Shib happens so fast in less than 5 years to hit at least $0.01,  I'll be double-dog damned!

[Xal0lex]

And does that mean that its rate will now start growing?

The rate will go up, if only this coin will suddenly become wildly popular among private coin lovers. But why do they need SHIB when they have Monero? People who value privacy will choose Monero. SHIB is a memcoin that has grown through social media shilling. Most people don't care about its utilitarian features, they only care about the difference between the purchase price and the sale price.

[goaldigger]

Don’t know much about how the technology works but if there’s a way to turn a meme token into a privacy coin and there’s a demand, then it might worth to try. This can be a good update and probably a new trend, if SHIB will successfully implement this update, you can expect more up trend to their value. The issue with SHIB is their utility, and now they are planning to create utilities which can be a big one, will try to analyze this and start to buy some SHIB before its too late, bull hype started to come.

[DeathAngel]

Interesting, it might be a good idea to start allocating a small % of your portfolio into SHIB then? It did so well a couple of years back, I do think it has potential to have a second epic run though, similar to Dogecoin in 2020/21. This is definitely something to keep an eye on, hopefully it will create another hype faze. Investors can be excited about the potential of this..

[wheelz1200]

Monero has a privacy implementation enabled by default. It is truly on another level compared with Shiba. Shiba is a token, and the privacy benefit is only achieved if the user uses the third-party platforms mentioned here, though, the guarantee of it, is still shady since it hasn't been tested yet. Also, the way how the token built and the fact it relies on another blockchain tells it can't achieve privacy features as Monero does.

It's an app developed by another team that allows you to send privately or anonymously right?

Yes, it is. It also seems that it is a brand-new platform and I didn't find any source code for the applications. I would take extra caution and be wary when dealing with the platform.

Agreed.  It's just a 3rd party app it doesn't mean "sbib will be anonymous like monero" lol.  I'm weary about these 3rd parties even deploying a way to make these anonymous in the long run.  It's just a token just like the rest of the tokens. 

[AmoreJaz]

Monero has a privacy implementation enabled by default. It is truly on another level compared with Shiba. Shiba is a token, and the privacy benefit is only achieved if the user uses the third-party platforms mentioned here, though, the guarantee of it, is still shady since it hasn't been tested yet. Also, the way how the token built and the fact it relies on another blockchain tells it can't achieve privacy features as Monero does.

It's an app developed by another team that allows you to send privately or anonymously right?

Yes, it is. It also seems that it is a brand-new platform and I didn't find any source code for the applications. I would take extra caution and be wary when dealing with the platform.

Agreed.  It's just a 3rd party app it doesn't mean "sbib will be anonymous like monero" lol.  I'm weary about these 3rd parties even deploying a way to make these anonymous in the long run.  It's just a token just like the rest of the tokens. 

so before people are proud holding shib, better know what's the real score here. so it is not a real deal of being anonymous token. just another 3rd party app that will assist users to make sure they are doing anonymous txs. so yeah, better be cautious using this new platform, they have no reputation yet to be trusted with big amount of funds. just try it with small funds first. but in any case, this is misleading as it is not really like the privacy protocol of monero.

[wajik-tempe]

The addition of privacy-focused features to Shiba Inu through the support of Bermuda and the upcoming launch of the Shibarium protocol could lead to increased demand and adoption of the coin, which could potentially result in an increase in its value. It will be an interesting move apart from it will be raise the value of the coin or not, better then just being a memecoin.
the success of a privacy coin is largely dependent on its ability to provide robust and secure privacy features, as well as its ability to attract a significant user base.

[avikz]

According to the latest news, the next 2 updates turns Shiba Inu into privacy coin:

• The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
• The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.
  

Is it on the whole possible to turn a regular coin into privacy one? And does that mean that its rate will now start growing?
   

It is definitely possible!

I am happy that now Shiba Inu will now have at least one utility - anonymity! Earlier this coin was absolute rubbish without any utility at all. But I am glad to see that it is becoming privacy focused and preparing to becoming a competitor of Zcash or XMR. Good call by the dev team.

Now the value of Shiba Inu should start an upward trend due to the great utility planned to be launched.

[o48o]

It is definitely possible!

I am happy that now Shiba Inu will now have at least one utility - anonymity! Earlier this coin was absolute rubbish without any utility at all. But I am glad to see that it is becoming privacy focused and preparing to becoming a competitor of Zcash or XMR. Good call by the dev team.

Now the value of Shiba Inu should start an upward trend due to the great utility planned to be launched.

Would you really call that any more utility then sending tokens normal way? Only difference is that this rubbish is now using third party service for private transactions.
It's not in a any way in competition of any of the privacy coins out there, especially with Zcash or XMR who have insanely talented dev team.

[Abiky]

According to the latest news, the next 2 updates turns Shiba Inu into privacy coin:

• The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
• The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.
  

Is it on the whole possible to turn a regular coin into privacy one? And does that mean that its rate will now start growing?

Never heard about it. But if the rumors are true, then you can bet SHIBA's price will increase for a short period of time. I honestly don't think how developers are going to add privacy features to Shiba Inu itself, especially when it's a token (smart contract) built on the Ethereum blockchain. The only thing I can think of is forking a mixer contract like Tornado.Cash for users to "anonymize" their SHIBA tokens. Adding ZK-Proofs capability into the SHIBA smart contract itself will be a tough one, especially when gas fees on the ETH blockchain are extremely high.

It wouldn't be a good idea to make SHIBA a privacy-focused coin, as that would lead most exchanges to de-list it. After all, privacy goes against KYC/AML rules for which centralized exchanges are required to comply. Because SHIBA would lose a lot by becoming a privacy coin, it would be best for third-party apps to do the job. The Bermuda dApp does a similar function to Bitcoin's "Samourai" wallet, without actually requiring a change in the cryptocurrency's code. It's much easier and doesn't inflict blame directly into the cryptocurrency itself. Governments are taking a stricter approach towards crypto/Blockchain tech, so we'll see how this plays out in the long run. Just my thoughts

[s.tanishka]

It is definitely possible!

I am happy that now Shiba Inu will now have at least one utility - anonymity! Earlier this coin was absolute rubbish without any utility at all. But I am glad to see that it is becoming privacy focused and preparing to becoming a competitor of Zcash or XMR. Good call by the dev team.

Now the value of Shiba Inu should start an upward trend due to the great utility planned to be launched.

Would you really call that any more utility then sending tokens normal way? Only difference is that this rubbish is now using third party service for private transactions.
It's not in a any way in competition of any of the privacy coins out there, especially with Zcash or XMR who have insanely talented dev team.

I fully agree! XMR is the leading privacy coin. The main and, perhaps, indisputable advantage is absolute anonymity and confidentiality. Transactions are unrelated and therefore impossible to track. Also untraceable are carefully hidden addresses.

[Sethrey]

The rate will go up, if only this coin will suddenly become wildly popular among private coin lovers. But why do they need SHIB when they have Monero? People who value privacy will choose Monero. SHIB is a memcoin that has grown through social media shilling. Most people don't care about its utilitarian features, they only care about the difference between the purchase price and the sale price.

I think you're right. Being myself a fan of Monero and Crypton, which are from the very beginning structured as privacy coins, I feel unconscious about such attempt to make coin private.

[mindrust]

It has its advantages for the users but will the exchanges happy about these changes? We know that exchanges don't like privacy coins because all exchanges have a big partner which is called he government and the government wants to know who you are. If shiba becomes a privacy coin then the government will tell their partners to stop doing business with shiba and shiba will get affected in a very bad way.

[btc_angela]

According to the latest news, the next 2 updates turns Shiba Inu into privacy coin:

• The non-custodial privacy dApp Bermuda announced support for Shiba Inu (SHIB) allowing its users to conduct anonymous transactions.
• The Shiba Inu ecosystem continues to expand as the community eagerly awaits the launch of the Layer-2 Shibarium protocol.
  

Is it on the whole possible to turn a regular coin into privacy one? And does that mean that its rate will now start growing?
    

On the contrary, I think otherwise, if it become a privacy coin then investors are going to stay away with it. Haven't you notice any privacy coin such as Monero having a good run during the last bull run? The reason is that regulars are hot on their tail, and some of the biggest exchanges have delisted Monero because of the pressures from regulators.

For me it's a bad move for Shiba to dig their hands on the privacy coin niche. It could be their downfall, just saying. And so for Shiba investors, they have to think twice about Shiba or any privacy coins for that matter.

[Dickiy]

Interesting update of this memecoin.
I did search for the info that OP is saying. Maybe this one will be it https://www.crypto-news-flash.com/new-feature-turns-shiba-inu-into-privacy-coin-like-monero-or-zcash-can-it-drive-shib-to-0-01/

We didn't expect Doge to also reach where it is right now but it made it. If Shib happens so fast in less than 5 years to hit at least $0.01,  I'll be double-dog damned!

That is very interesting and maybe very potential if it happens like Zcash and Monero where the developer might notice that privacy in transactions is very important which might interest Ryoshi to make the shiba inu coin have a privacy coin feature.

Regarding the shib price that you showed, I think it's excessive even though to this day the development of shiba is quite good, but the thing that makes me doubt the price is that shiba is not the main coin in the ecosystem, which in shibarium and metaverse uses Leash and Bone tokens and there is very little utility for shiba inu tokens in the ecosystem. I think it will take tens of years to step on the price you mentioned, if you continue to develop it.