[ANN][CLOAK] Private, Secure, Untraceable & Decentralized Digital Currency

[cloakteam]

Dear Cloak Community,

We’re very proud to announce that CloakCoin is now listed on FreixExchange!

Trade $CLOAK with zero fees



We’d like to extend warm thanks to FreiExchange for supporting CLOAK and look forward to get more attention in the crypto market.

Peace & Love

Team CLOAK

[1675912592]

1675912592

[1675912592]

1675912592

[1675912592]

1675912592

[1675912592]

1675912592

[So_good__]

Cloak team pl Stop signing up anywhere to brew shit!

People don't understand why a lot of reputable sites like Coinbase or CoinmarketCap display 1 Cloak = $2.30 while on two others that have real liquidity the Cloak = $0.21.

I find very disappointing all these exchanges that only serve to rig mass and volume and liquidity to bring a falsified total to the overall total markets.

I explain: for example on Folgory or on other new and old ones.

You buy 5 CLOAK crypto 20 cents on one of the exchanges that create volume 5 cloak X 20 cents = volume/liquidity $1 then afterwards you always buy on the same site/exchange in another quote/pair for example CLOAK/EUR or BTC you buy 1 single CLOAK at 2€, Coinmarketcap will weight and the total volume/liquidity that comes from this exchange is 6 cloak at 2€! Coinmarketcap thus artificially inflates many prices. It is not only Cloak that is impacted by this anomaly which seems to be voluntary on the part of Coinmarketcap.

Other exchanges such as Yobit Mercatox Bitbns and Bitrabbit have been maintaining the Cloak wallet for several months. Impossible to withdrawal or deposit CLOAK coins. Moreover, these exchanges also actively participate in artificially inflating prices.

A friend pointed out on Coinmarketcap CLOAK you read $14000 / 24h displayed, when you search on the transaction books of e.g. Folgory you will not find at all in the exchange $14000 but 1400 Cloak at 1 cents on the per Cloak/BTC and a transaction at $1 on the Cloak/USD pair for Coinmarketcap = $14000.

https://ibb.co/6YBcfSy
https://ibb.co/KNnGBDP
https://ibb.co/yXrNDYM
https://ibb.co/GQJ3HmG

https://ibb.co/Wk85sTM
https://ibb.co/CzRx268

a user even pointed out that Coinmarketcap does not reset the exchanges every 24 hours on the display which contributes to aggravate the manipulation of false prices!

People doesn't understand why there damage attributable to CLOAK from Coinmarketcap, Coinbase display https://ibb.co/yYvXcVM and from these exchanges. It is frankly disgusting.

However, it seems that Livecoin and Stex stay serious. the other exchanges + CMC are lame, fake or very stink.

[tradercouch]

Real price of cloak is 0.2 usd at the moment other is fake on exchanges. Cloak coin need to list some good exchanges like bittrex binance coinbase and tons of others

[So_good__]

Real price of cloak is 0.2 usd at the moment other is fake on exchanges. Cloak coin need to list some good exchanges like bittrex binance coinbase and tons of others

the facts speak for themselves. I agree with you. I hope the decision-makers driving the CLOAK flying car know what they're doing and have a solid plan.

[Pipasol]

Cloak team pl Stop signing up anywhere to brew shit!

People don't understand why a lot of reputable sites like Coinbase or CoinmarketCap display 1 Cloak = $2.30 while on two others that have real liquidity the Cloak = $0.21.

I find very disappointing all these exchanges that only serve to rig mass and volume and liquidity to bring a falsified total to the overall total markets.

I explain: for example on Folgory or on other new and old ones.

You buy 5 CLOAK crypto 20 cents on one of the exchanges that create volume 5 cloak X 20 cents = volume/liquidity $1 then afterwards you always buy on the same site/exchange in another quote/pair for example CLOAK/EUR or BTC you buy 1 single CLOAK at 2€, Coinmarketcap will weight and the total volume/liquidity that comes from this exchange is 6 cloak at 2€! Coinmarketcap thus artificially inflates many prices. It is not only Cloak that is impacted by this anomaly which seems to be voluntary on the part of Coinmarketcap.

Other exchanges such as Yobit Mercatox Bitbns and Bitrabbit have been maintaining the Cloak wallet for several months. Impossible to withdrawal or deposit CLOAK coins. Moreover, these exchanges also actively participate in artificially inflating prices.

A friend pointed out on Coinmarketcap CLOAK you read $14000 / 24h displayed, when you search on the transaction books of e.g. Folgory you will not find at all in the exchange $14000 but 1400 Cloak at 1 cents on the per Cloak/BTC and a transaction at $1 on the Cloak/USD pair for Coinmarketcap = $14000.

https://ibb.co/6YBcfSy
https://ibb.co/KNnGBDP
https://ibb.co/yXrNDYM
https://ibb.co/GQJ3HmG

https://ibb.co/Wk85sTM
https://ibb.co/CzRx268

a user even pointed out that Coinmarketcap does not reset the exchanges every 24 hours on the display which contributes to aggravate the manipulation of false prices!

People doesn't understand why there damage attributable to CLOAK from Coinmarketcap, Coinbase display https://ibb.co/yYvXcVM and from these exchanges. It is frankly disgusting.

However, it seems that Livecoin and Stex stay serious. the other exchanges + CMC are lame, fake or very stink.

I notice something else, the web traffic score to the 2 brand new chosen exchanges sites newly added are more than ridiculous, especially in terms of link pointing and B2B conversion. Source AlexaRank

https://exchange.bitfare.io/ result https://ibb.co/C9CB58N

https://freiexchange.com/ result https://ibb.co/GsYSCW6

[So_good__]

I notice something else, the web traffic score to the 2 brand new chosen exchanges sites newly added are more than ridiculous, especially in terms of link pointing and B2B conversion. Source AlexaRank

https://exchange.bitfare.io/ result https://ibb.co/C9CB58N

https://freiexchange.com/ result https://ibb.co/GsYSCW6

let's wish them success

[cloakteam]

Dear Cloak Community,

We're very excited to announce the release of the Coordinator Report — January 2020



Peace & Love

Team Cloak

[Herry Toms]

we all just keep faith in it its a positive move and ll change things slowly

What do you think about other privacy coins like RYO(Ryocurrency) which is a real-life usage product with extreme privacy features. What is your opinion about it?

[So_good__]

we all just keep faith in it its a positive move and ll change things slowly

What do you think about other privacy coins like RYO(Ryocurrency) which is a real-life usage product with extreme privacy features. What is your opinion about it?

Hello, thank you for your interest in Cloak.

It seems Ryo and Cloak are not the same technology. Ryo is very much related to Monero precisely like

Launched in Jun 2018 and based on the Cryptonote foundations of Monero, Ryo is headed by fireice_uk and psychocrypt, a duo with development work on opensource mining software proof of work algorithms.  The team claims that the Ryo blockchain does not have the 0-mixin Ring Confidential Transactions (RingCT) that characterize older Cryptonote chains because Ryo has ring sizes of 25. These settings reportedly reduce the chances of being identified and traced by blockchain statistical analysis. The Ryo developers implemented a uniform transaction ID system that hides the use of payment IDs because all transactions now have a uniform ID that is retrofitted with the old payment ID system. The team claims that Ryo is the first amongst various Cryptonote currencies to implement this feature, which addresses the metadata leak that reportedly affects Cryptonote coins with payment IDs.  Ryo aims to function as a store of value that is suitable for highly confidential transactions. The core mission of the project is to deliver a currency with true fungibility. This means that each coin is equal and interchangeable; the team claims that it is highly unlikely that any coin can ever by blacklisted due to previous transactions

.


Whereas CLOAK is a totally different technology precisely:

Launched in Jun 2014, CLOAK is a provider of Open Source blockchain solutions using ENIGMA® technology, which reportedly helps to make transactions completely confidential. The technology is designed to be decentralized, reliable, secure, and scalable. It is based on Proof Of Stake, which was designed to reduce operating costs and carbon footprint.

Cloakcoin uses onion routing enabled by default with ENIGMA® technology. This, coupled with CloakShield® function, reportedly provides end-to-end encryption and offers direct and secure communication that allows nodes to evade traffic analysis. Combined with ENIGMA®, Cloakcoin aims to offer a high level of confidentiality that uses up to 25 jumps with symmetric RSA encryption and ECDH key exchange.

Anyone can generate Cloakcoin with annual interest rates of 6%.

Cloakcoin aims to allow any computer or smartphone user to participate in the cryptomarket with complete security and without the fear of unwanted hacking or multi-channel spying activity.

Also note that CLOAK's environment offers different measurements compared to Ryo. Both crypto's have their advantages, after that it is up to the users to choose or mix and match.

Personally my choice is on CLOAK it's a secure, unhackable and completely confidential crypto, transaction costs are extremely low and the staking pays 6% more per year (fixed rate). CLOAK is composed of a brilliant, identifiable team, which builds tomorrow's environment in a sustainable way

[ReD_Yaka_MoZ_]

COORDINATOR REPORT — JANUARY 2020

Marketing Team
15th Jan 2020


Dear Cloak Community,

Happy new year, everyone!

With 2019 behind us and 2020 just kicking off, the Cloak team is excited about what the future holds. Although the privacy-coin landscape remains challenging, we continue to fight for the universal right to privacy.

Those who try to push us down only make us stronger. And, we’re ready and willing to make 2020 a breakout year for our project. So, let’s get you all caught up with our development over the past couple of months.

We’ll begin with some important words from our head of public relations!


IWIDEPIWI (IVAN) — PR & MARKETING LEAD & DUTCH COORDINATOR
Greetings!

The power of Cloak is not only defined by its working product — which is a must-have in this age of surveillance capitalism. Neither is it solely defined by a dedicated team investing its own funds to move a promising project forward.

You are Cloak — the community that believes in us and helps us in any possible way. We appreciate that more than words can express. You give Cloak strength! Thank you!

2019 wasn’t an easy year for us. A few things happened that didn’t make us happy, which might have held us down. Because we firmly believe in our project, however, these events had the opposite effect.

Instead of getting discouraged by negative forces seeking to damage our project, we strengthened our resolve to show the world the benefits of CloakCoin.

Throughout the past year, we shared some fantastic news with you, keeping you updated via our Dev, Marketing, and Coordinator reports.

Today, we’re going to look back at the past two months while providing a sneak peek of what’s to come. Ready to hear about it? Let’s dive in.


Development
We released the beta version of the long-awaited new wallet. What a beauty it is! Cloak listened to the feedback of the community, incorporated new features, and improved the overall design and functions.

CloakCoin v3.0.1-beta ‘rEVOLUTION’ stormfix wallet is now available for Windows, Linux, and macOS.
https://www.cloakcoin.com/en/wallets


https://twitter.com/CloakCoin/status/1197250914614173700


CloakCoin Mobile Android Wallet v1.9.1

https://twitter.com/CloakCoin/status/1193885832031166465

We updated and made improvements to our Android mobile wallet. It’s easy to install and use, and works flawlessly.






Project Reinforcements
As you may have read in the last dev report, Anorak is back full force. We’re genuinely excited about that!

We keep improving our tech to expand CloakCoin’s use cases. We aim for perfection in everything we do and strive to deliver outstanding products. With dedication and hard work, we can accomplish amazing things.


Use Cases
We’re always looking for ways to expand this category. Thanks to our Turkish Coordinator — Asertin — and our partner, who prefers to remain unknown, we launched CloakFX.

CloakFX https://cloakfx.com/ is a Forex Trading platform that enables everyone to trade privately and securely with low entry possibilities. In a nutshell, the platform combines the world of crypto with the world of Forex trading.

The successful launch, combined with the Felixo airdrop, garnered lots of attention. CloakFX already has over 1,000 users, and our Telegram group grew extensively.

We’re happy with the result so far and expect great things from CloakFX in the future. Please help us spread the word!


https://twitter.com/cloakcoin_promo/status/1194692497173299201

https://twitter.com/felixoexchange/status/1194660154064752640

Furthermore, we’re in current negotiations with several projects and exchanges about potential partnerships and listings. This, of course, requires time. But we’ll certainly keep you updated.


Marketing
We continue spreading Cloak’s vision in any possible way. Marketing is a vital aspect of any project. That’s why we do our best to let people know we’re here and staying a step ahead of our competition. Thanks to our new strategy, we have a clear vision of how to achieve our marketing goals.

The content we share — including giveaways — increases our follower base and attracts new users to our project. Even though some may only want to win a prize, after diving deeper into Cloak, they recognize our project as a gem. This way, step by step, we’re gaining more members to help us spread the word.

It’s great to see that community members are getting more active on social media and offering great ideas in our Telegram groups. Thanks again to everyone helping to push Cloak forward!


https://twitter.com/DickaAmmara/status/1200307710530482179


https://twitter.com/starttanky/status/1202519982619291648

https://twitter.com/_BeYourOwnBank_/status/1199444727357169664

A special thanks also to Crypto_Fez for his video about CloakCoin https://twitter.com/CryptoFez . It’s always good to see how people from outside the project perceive us. We appreciate critical feedback, as it helps us to improve.


https://twitter.com/CryptoFez/status/1201220801606881281


As stated in the last marketing report, we’re working on an easier way for anyone to provide feedback. We don’t want those great ideas getting lost in space!

And, it’s currently impossible for us to keep up with all the entries that reach us via all channels. It’s time to organize your valuable input. Our feedback wall will be ready in the months ahead.


Cloak Ambassador Program https://cloakcoin.com/getinvolved
Tired of sitting on the sidelines? Do you want to take part in our great project?

Here’s your chance! Our Ambassador program will start very soon.

Become an official Cloak Ambassador. And get rewarded in $CLOAK!



We hope everyone enjoyed the holidays and spent quality time with loved ones. After recharging your battery, you can kick ass in 2020!

We will do the same.

2020 is going to be a fortunate year for all of us!




Join the Dutch Cloak Community on Telegram:



iwidepiwi - PR & Marketing Lead & Dutch Coordinator

ivan@cloakcoin.com


EXSLAVE (JOAO) — BUSINESS MANAGER & BRAZILIAN PORTUGUESE COORDINATOR
Moin, Cloakers!

We feel ready to embrace 2020 with renewed energy — the commitment to the project is ever increasing.

Adoption is one of our priorities, and we continue to reach out to businesses all over the world. Between each released report, the number of companies and organizations that accept CloakCoin continues to rise. Behind the scenes, we stay busy with growing the use cases for our coin.

I invite you to check out our vendor’s page https://www.cloakcoin.com/vendors . There you can find interesting shops and websites with all sorts of products and offers. By using and paying with CloakCoin, we’re building upon collective efforts.

For 2020, we plan to focus on strategic partnerships that can bring higher visibility while continuing to pursue every cross-marketing opportunity.

The path is full of failures and disappointments, but staying on the trail is the only way to succeed.

Recent vendor enrollments include these organizations:


https://twitter.com/cloakcoin_promo/status/1192205671531458561

https://twitter.com/cloakcoin_promo/status/1196496260489994241

https://twitter.com/cloakcoin_promo/status/1199357018206810114

https://twitter.com/cloakcoin_promo/status/1211757791997841410

https://twitter.com/cloakcoin_promo/status/1212819154086088704



Join the Portuguese Cloak Community on Telegram:



Exslave - Portugese Language Coordinator

exslave@cloakcoin.com

 
Facebook - CloakCoin Brasil
CloakCoin é uma das primeiras moedas focada em privacidade e anônimato, ela vem funcionando desde 2014 bem no começo das moedas anônimas. Desde o início a CLOAK procura através do seu software...



ASERTIN — TURKISH COORDINATOR
Dear Cloak Family,

A new decade has begun! Hopefully, it will be one in which people care more about their privacy and become interested in products offering the ability to keep personal info private.

This decade is an excellent opportunity for the Cloak team to create awareness and educate people on the importance of privacy payments. While you may think you have “nothing to hide,” privacy isn’t about hiding a bad attitude, it’s about protecting yourself from becoming a product.

Where you spend your hard-earned money reveals pretty much everything about you — more than you can imagine. Loyalty cards, debit cards, credit cards, everything is about finding patterns in your spending habits.

I have too many things to say about 2019’s crypto life, but we all lived through it together. Everyone is trying to maintain our existence even though we sometimes face situations we never expected.

The first goal of this year is finishing Cloak’s full privacy payment gateway — where merchants can quickly adopt CloakCoin as a means of payment.

I wish you all a good year!


Join the Turkish Cloak Community on Telegram:



Asertin - Turkish Coordinator

asertin@cloakcoin.com

 


SHIBOB — VIETNAMESE COORDINATOR
Dear Cloak Community!

Over the last two months, I had lots of rendez-vous meetups with different crypto communities to discuss the current crypto market. I introduced many of them to Cloak, and the great news is that some of the community leaders would love to do AMA interviews with CloakCoin.

We also figured out that, at the moment, most people in crypto Vietnam only care about bitcoin and derivatives trading — including bitcoin and altcoins on margin, futures, and perpetual swap. Everything’s available on these exchanges: OKEx, Bitmex, Bitfinex, Huobi DM, and Binance futures.

I made agreements with the heads of BlockchainCrews https://blockchaincrews.com/ , Stone Trading, and CoinerVN https://t.me/coinervn_news to do promotions like AMAs, as well as offline activities for sharing our trading experiences.

I also landed an agreement with Bcnex exchange https://www.bcnex.net/ to get CloakCoin listed. However, there are further discussions to have with the Cloak team — we want to ensure proper timing.

The Lunar New Year holiday season is arriving here soon. And hopefully, our community will return from the long break stronger than ever before.

Happy New Year!

Peace & Love,

Join the Vietnamese Cloak Community on Telegram:



ShiBob89 - Vietnamese Coordinator

shibob89@cloakcoin.com



IGORS — RUSSIAN COORDINATOR
Dear Cloak Community,

First of all, I want to congratulate you on the upcoming new year and wish our collective dreams and desires to come true in 2020!

I also welcome you to read my updates. As mentioned in my previous issue, I’m focused on concrete goals. Here’s some progress regarding those points:


UX and UI of BYOB DEX https://byob.exchange/ . Here’s where you can check out a sneak peek:

LIGHTPAPER BYOB GUI V1.1
https://cloakcoin-prod-wallet-backup.s3-eu-west-1.amazonaws.com/BYOBDexGUI1.1.pdf

Here are a few more of my highlights:

• I was actively communicating with many exchanges regarding possible CloakCoin listing (preferably for free). Communication still is ongoing, but unfortunately, most of the exchanges request a large amount of money, and currently, we can’t afford that. But I’m looking forward to continuing my work on that front.

• All this year, I provided various translations with the help of my professional translation team. I want to thank all my colleagues and am looking forward to continuing our longterm collaboration towards CloakCoin’s mass adoption.

• I continue my work towards CloakCoin’s development. I’m currently collecting all ideas from our big Cloak community to find the most exciting ideas and fold them into my work. Thank you, Cloak community, for your activity and support!
  I’m always glad to hear your suggestions and ideas for improving and further developing the CloakCoin project.
  

Peace and Love




Join the Russian Cloak Community on Telegram:



Igor Fridkin - Russian Coordinator

igor@cloakcoin.com

 

Summing Up
2020 is already full of wonder and excitement. The possibilities are endless, and we can all feel a big shake-up coming to the blockchain and crypto industries at large.

Will it be a new bull run triggered by the bitcoin halving? Will we see huge progress in regulatory clarity? Will the real Satoshi Nakamoto finally reveal himself? Time will tell.

But no matter what comes our way, these categories remain Cloak’s focus:

• Exchange listings

• Coordination of development activities

• Partnerships and cooperation with other blockchain projects

The prize for our ENIGMA challenge — https://www.cloakcoin.com/en/blog/enigma_competition  in which we invite hackers to hack our network — remains unclaimed. We wish we could say the same for other privacy coins in the space, but we’ve successfully thwarted every network intruder. Come, try to hack us, and don’t forget to bring your friends!

Until next time, our beloved community, don’t forget to Pay With $CLOAK, Not Your Privacy!

The Cloak project is striving towards a world in which everyone has complete control over their personal finances via quick, secure, and private transactions. And we’re certainly headed in that direction.

Until next time, our beloved community, don’t forget to Pay With Cloak, Not Your Privacy!

Thank you, it's still very convenient to be able to share to the CLOAK community here as well

Glad to find you here my dear Dozzze.
it's a very good choice the Team made for the upgrades. The Android wallet works very well, I can confirm it. It's very interesting the alternative CloakFX because trading FOREX leveraged with such freedom is priceless.

[Pipasol]

I just stumbled on the post it seems very interesting, I didn't know CLOAK but it's a nice discovery all this information is like an eco for me. The interest of hiding your private life is important to me, not for illegal things but simply to remain discreet. How do you get the 6% interest?

[Pipasol]

if you have time

[ReD_Yaka_MoZ_]

if you have time

I was just answering your question

I just stumbled on the post it seems very interesting, I didn't know CLOAK but it's a nice discovery all this information is like an eco for me. The interest of hiding your private life is important to me, not for illegal things but simply to remain discreet. How do you get the 6% interest?

Very simple you buy Cloak in an exchange:

https://www.livecoin.net/en/trading/CLOAK_BTC

https://app.stex.com/en/basic-trade/pair/BTC/CLOAK/1D

- You download the Cloak wallet on your computer: https://www.cloakcoin.com/en/wallets

- You install the wallet taking care to create your password and then save (one outside your computer your seed or .dat file) offline backup storage is ideal.

Then wait for the synchronization with the Cloak blockchain.

Then you create a receiving address in the tab (receive funds) in your wallet.

Send your funds from the exchange to your wallet with the previously created receive address (receive funds).

Wait for the funds to be displayed

Then activate the mining go to parameter and select: (Unlock for Mining)

Then leave the wallet connected to the internet 24/24 and you will receive free Cloak every day = 6% of the value of the number of chips you store in your wallet / per year so calibrated on a daily basis.

Also works with a Raspberry Pi so very energy efficient.

[Pipasol]

Thank you i'm going to try all this out on my computer tomorrow. i'll let you know

[lasvegas83]

Good news! We're nominated  

https://twitter.com/Hotbit_news/status/1218086225837342721?s=20

[Pipasol]

if you have time

I was just answering your question

I just stumbled on the post it seems very interesting, I didn't know CLOAK but it's a nice discovery all this information is like an eco for me. The interest of hiding your private life is important to me, not for illegal things but simply to remain discreet. How do you get the 6% interest?

Very simple you buy Cloak in an exchange:

https://www.livecoin.net/en/trading/CLOAK_BTC

https://app.stex.com/en/basic-trade/pair/BTC/CLOAK/1D

- You download the Cloak wallet on your computer: https://www.cloakcoin.com/en/wallets

- You install the wallet taking care to create your password and then save (one outside your computer your seed or .dat file) offline backup storage is ideal.

Then wait for the synchronization with the Cloak blockchain.

Then you create a receiving address in the tab (receive funds) in your wallet.

Send your funds from the exchange to your wallet with the previously created receive address (receive funds).

Wait for the funds to be displayed

Then activate the mining go to parameter and select: (Unlock for Mining)

Then leave the wallet connected to the internet 24/24 and you will receive free Cloak every day = 6% of the value of the number of chips you store in your wallet / per year so calibrated on a daily basis.

Also works with a Raspberry Pi so very energy efficient.

Well, I followed the instructions and the result is a success! Thank you for your help

[tippytoes]

One thing that I admire on tis coin is the resistance to go down below $0.15. It seems that the team is monitoring their price level and really do something about it.



As many projects don't care once they decline, this one is strongly holding its minimum price level and from time to time, you can see the rise in the charts (pumping time?).

[ReD_Yaka_MoZ_]

Why stay anonymous buying crypto?

Crypto owners have their personal reasons to hide under a cloak. It could be government regulations, fear of being hacked or simply buying new alternate investment vehicles. Increasing your privacy provides a better cover from potential attacks.

It is worth noting that privacy is only relative in the crypto realm. The blockchain architecture itself is highly secure. But human involvement increases the chances of fraud and scams! Most exchanges broadcast the exact IP addresses of users thereby helping unmask their identities. Pseudonyms, too, can go only up to a certain extent.

The transparency in public crypto ledgers also exposes user data to the general public. Coin control features in the Bitcoin wallets are another loophole commonly exploited by the fraudsters. This leakage in identity further makes you a potential target. Hence the need to go anonymous.

[So_good__]

source https://eng.ambcrypto.com/kraken-ceo-govts-will-take-time-to-understand-benefits-of-privacy-coins/

Kraken CEO: Govts will take time to understand benefits of privacy coins

“Financial privacy is like a fundamental right”, says Jesse Powell, CEO, and Co-founder of Kraken. But Bitcoin and other cryptocurrencies are pseudonymous, i.e., transaction information is easily available for further analysis.

In response to this, new technology has been developed over the years to recreate privacy by restoring anonymity. While this gave rise to privacy coins, such as Monero and ZCash, regulations, however, have not been kind to these specialized coins.  Privacy coins have been delisted from various exchanges last year thanks to the regulatory pressure from the Financial Action Task Force [FATF].

In a recent interview with crypto advocate Naomi Brockwell, the Kraken exec said there are a lot of “legitimate” reasons to have financial privacy. While admitting that anything can be used for “nefarious” activities, Powell believes that it is going to take a lot of time for the governments to understand the benefits of it. He added

“You don’t have to use it for everything, but they serve a purpose for sure and I think they will become widely accepted”

Anonymity can be maintained in Bitcoin transactions as well. One such project is CoinJoin that enables Bitcoin transactions to remain private by leveraging a coin mix. Along the same line, Powell  stated,

“We’ve heard regulators say is, who are actually pro-privacy coins, that well Bitcoin is already it’s so liquid and so large that if you wanted to conceal your Bitcoin transaction, just kind of mix it, so that the trail was lost. You could do that, it is not like that difficult to do. You are not going to ban Bitcoin. So then, it is kind of like, why are we banning the privacy coins?”

In recent times, even Bitcoin transactions using coin mixers have come under the scrutiny of crypto exchanges. Binance  Singapore recently froze a wallet of a Bitcoin user who employed CoinJoin to add privacy to the transactions. While the user was got his funds back, it does seem like a wake-up call for the proponents of financial privacy.

These people seem to be visionaries; maybe he can help Cloak coins with their networks?

[cloakteam]

❗ Free listing on CREX24 Exchange ❗

Please Vote for CloakCoin!



Thank you

Peace & Love