Monero and other privacy coins will be delisted from Binance

[jesuschrist]

In short Binance asked privacy coin devs to make some changes (remove privacy features), Monero devs already respoded they won't do it so it will be delisted likely next month.
Other privacy coins are looking for a way but unlikely it will happen, so those coins will be delisted too in a few months.
Kraken will remain the only legitimate exchange for them but who knows for how long.

Is it priced in already?

 

[JohnLocke]

So it's good that Binance is not dominating the world and they are not the only ones in the market.

 

[jafo]

In short Binance asked privacy coin devs to make some changes (remove privacy features), Monero devs already respoded they won't do it so it will be delisted likely next month.
Other privacy coins are looking for a way but unlikely it will happen, so those coins will be delisted too in a few months.
Kraken will remain the only legitimate exchange for them but who knows for how long.

Is it priced in already?

Binance's call sign has been changed to US DOJ

Source: US Is Seeking More than $4 Billion From Binance to End Case

PS. This Twitter account https://twitter.com/Unscrip24849698 called out CZ and BInance in 2018 telling them they would be indicted and ripped off by the US DOJ for billions. cced DOJ, FBI, SEC and others. Told CZ to pack his things and move to China and exclude Chinese residents except for exchanging crypto to ¥ as the banking system would make it difficult for Westerners who were NOT politically connected and privileged to pay Non-Western manufactures. CZ and Binance blocked that Twitter account and then Twitter suspended that account.

 

[jesuschrist]

Binance's call sign has been changed to US DOJ

It's obvious Binance is a US honeypot now.
Still with it's copy sites (Kucoin, MEXC, Bybit) it hosts most of the liquidity, without them liquidity will dry up for privacy coins.
Even the swap sites Simpleswap, FixedFloat uses Binance behind the hood. Scammers use those to convert illicit coins to XMR.
Maybe we will see less scams in the crypto space.

Told CZ to pack his things and move to China and exclude Chinese residents

Maybe not that early but after 2020 I was certain too that CZ won't get away with everything.
That might have saved CZ but not Binance. The west will close all Binance's fiat channels anyway and degrade it into a crypto-crypto only exchange.

Sure many Chinese criminals do that and than never move out of China or Taiwan, or some Jews who scam people in America and Europe are "safe" in Israel.
They can travel to some Sub-Saharan African countries, maybe to Russia and China and thats all. I wouldn't call that a good life.

Imagine having a fortune and unable to go to the Caribbeans, French Polynesia, even there were news how Maldives extradited Russians to the US despite no treaty, the UAE sends everyone to the US just to get some good points even before they ask them lol

CZ will get 1 year in prison, his business decimated but after he can still have a good life.

 

[jafo]

Imagine having a fortune and unable to go to the Caribbeans, French Polynesia, even there were news how Maldives extradited Russians to the US despite no treaty, the UAE sends everyone to the US just to get some good points even before they ask them lol

CZ will get 1 year in prison, his business decimated but after he can still have a good life.

He won't! He will be BARRED from most countries (Japan, Australia, Mexico, most islands in the Caribbean etc etc), unless he becomes a SNITCH of the US DOJ and the US agents overseas "clear" him. The same has happened to Mike Tyson for doing a lot less.

Mike Tyson denied entry to Chile, sent home

Former world heavyweight champion boxer Mike Tyson was denied entry into Chile on Thursday and sent on a flight home.

www.usatoday.com

The same thing also happened to Lei Jin & GeneScience Pharmaceuticals:

Drug Maker From China Pleads Guilty (Published 2010)

GeneScience Pharmaceutical and its chief executive pleaded guilty to charges of illegally distributing human growth hormone in the United States.

www.nytimes.com

Lei Jin listened and NEVER stepped foot outside China after that but continued to expand all around the globe to the dismay of Western Robber Barons. Now his business revenues are +¥35 Billion annually and he doesn't have to look into the mirror with an AMPUTATED SOUL!
There are NO prosthetics for an AMPUTATED SOUL!

GeneScience takes major business away from Western Pharmaceutical companies, especially in emerging markets, and the "shareholders" HATE it. Full disclaimer: I'm a shareholder in both the West and the East, so I am speaking out of experience by reading, studying, understanding, juxtaposing, and extrapolating from the respective annual reports.

 

[wellington]

It shouldn’t/wouldn’t take much to build a thorswap like protocol for connecting XMR to swaps with EVM chains.

Somewhat surprised it hasn’t already happened.

 

[0xDEADBEEF]

It shouldn’t/wouldn’t take much to build a thorswap like protocol for connecting XMR to swaps with EVM chains.

Somewhat surprised it hasn’t already happened.

There is something in the works to support this, you can check the result here: GitHub - AthanorLabs/atomic-swap: ETH-XMR atomic swap implementation.

Technically this would be able to support all EVM chains, but there still is a lot of development left to make this user friendly and reliable.

Or haveno.exchange, the supposed promised land of XMR DEX that is still under development.

 

[Amandograde]

i remember they promised atomic swaps many many years ago. Still seems to not be done, otherwise that topic would not be an issue.
at the end of the day its a shitcoin so not overly bothered by that it being delisted.

The Dark Web’s Favorite Currency Is Less Untraceable Than It Seems

Researchers point out serious gaps in the privacy promises of stealth cryptocoin Monero.

www.wired.com

 

[wellington]

I’ve never really been a fan of monero if honest - but did play with it in 2017 (lost keys since) but I look at it like cash.

Where cash is concerned the Goverment don’t have insight what’s in my left pocket and don’t need to be notified when I move it to my right pocket.

Monero pretty much does the same but tokenized - trying to make it illegal because it doesn’t display a traceable method openly from left to right pocket is surely some form of encroachment on human rights (privacy) and on speech (money is speech).

 

[Jbb1]

i remember they promised atomic swaps many many years ago. Still seems to not be done, otherwise that topic would not be an issue.
at the end of the day its a shitcoin so not overly bothered by that it being delisted.

The Dark Web’s Favorite Currency Is Less Untraceable Than It Seems

Researchers point out serious gaps in the privacy promises of stealth cryptocoin Monero.

www.wired.com

You can swap here with BTC but only BTC to XMR and not XMR to BTC: UnstoppableSwap

 

[Lincoln Burrows]

I didn't believe it when I read this post, but Monero got delisted yesterday by Binance

 

[Marshal]

I didn't believe it when I read this post, but Monero got delisted yesterday by Binance

Once it will be removed from all big cryptocurrency exchanges it will lose value very quickly.

 

[CyprusLawyer101]

This is overall a good thing for the crypto world from multiple perspectives.

 

[Marshal]

This is overall a good thing for the crypto world from multiple perspectives.

By killing privacy coins like ZEC and XMR?

 

[void]

By killing privacy coins like ZEC and XMR?

XMR is not economically sustainable, hence safe - from the little I know (if I'm wrong, correct me pls) only enthusiasts mine it and it doesn't pay off, which is a huge problem

 

[CyprusLawyer101]

By killing privacy coins like ZEC and XMR?

KIlling their inflationary tendency maybe , killing their utility , i think not

 

[wellington]

Must be pretty much secure 'current iteration' by the fact that Binance delisted.

I imagine therefore it's a good wash for people illegally evading taxes.. don't need a centralised exchange for that, so actually by binance delisting the feds/etc loose a tracking point.

 

[jafo]

lose value very quickly.

I imagine therefore it's a good wash for people illegally evading taxes.. don't need a centralised exchange for that, so actually by binance delisting the feds/etc loose a tracking point.

 

[jesuschrist]

Once it will be removed from all big cryptocurrency exchanges it will lose value very quickly.

My theory is after it gets delisted from all major exchange it's "network effect" will quickly diminish.
Undoubtedly they have a very big userbase currently, and yes some very dedicated users will hold it for years as it goes down, but most people don't care about these things, they just bought it because it was useful and it was the most liquidy privacy coin on the exchanges.

I think in a few years it won't be different than all the other 1000 CryptoNote based coins.
As a cryptographer I am fascinated about it's tech too, but I would never hold it, just hold BTC, exchange to privacycoins whenever you need.

 

[CyprusLawyer101]

Very happy to find out Jesus is into crypto and a cryptographer too! Says a lot !