Most exchanges currently support hundreds if not thousands of crypto currencies listed for their customers to trade between. However most always center around BTC, LTC and ETH as being the prime sources of trades other then FIAT.
However as regulations seem like they will be a big part this year for crypto land it seems like decentralized currencies which are impossible or nearly impossible to track might be getting the boot.
🚫 Japan is the first of perhaps many which are asking and soon forcing exchanges to remove crypto currencies such as Monero, Zcash and Dash which operate under the consensuses that your transactions are anonymous. As the report shows the push is to eliminate all crypto currencies which support anonymous transactions.
- Please note there has been no formal of address of this as of yet however viewing what some exchanges based out of Japan have done in the last few days and weeks provides evidence this will be passing possibly soon.
Could we be seeing more of this come into play from other governments as cryptocurrencies get regulated and adopted for mass use?
I believe so but it does not have to be a bad thing. It just goes to show why Bitcoin and a number of other top cryptos are here to stay such as Ethereum and Litecoin.
As we move towards more regulations this will also narrow the gap of ICOs and other crytos focusing core money into just a few coins such as bitcoin, Ethereum and Litecoin further increasing their value to new highs we have yet to even come close to.
For myself I currently look at this as a required step in order to get to mass adoption. There has to be a trade off at some point where we acquire full adoption of cryptocurrency and fully anonymous transactions have no place there unfortunately.
One reason why I never touched anonymous cryptos. The regulators will never allow these opaque blockchain cryptos into the "approved" exchanges. It's just not going to happen.
The anon assets will still trade on the some of the DEXes, but they will be gradually pushed out of the regulated exchanges.
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It makes sense , there simply would never be any way to regulate them and really adopt them into everyday living.
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This will push pseudo anonymous top coins such as Bitcoin even more to the mainstream and moon prices but don't bet on the demise of the anonymity coins, they will move underground and continue to be used in the black and grey markets around the world.
This is a good thing, you don't wanna live in a world in which the governments can see every purchase you make, it would be a totalitarian nightmare.
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The positivity of this can not undermined, the black market will always exist and it will forever be home to some people who take privacy more personal, imagine a privacy coin, isnt the DAO supposed to fall in the category of privacy coin?
Hence a use case for the privacy coin
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I believe so too, infact it will double the amount of potential investors that will be interested in crypto, because few people are still very skeptical about what the government will do to crypto . If its a regulation we can adapt to, then fine.
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Solid agreement. More regulation from governing bodies further legitimizes the use and potential of cryptocurrencies. If current anonymous cryptos can't adjust to regulation, then they will fall to the wayside, and the "fittest" coin will survive and thrive. But who's to say that they can't? Hard/soft forks can solve a lot of problems, we've seen it done already multiple times over. As for double the investors, I think we could easily see that in the next year or two. There is a ton of room for growth across the board. A recent story from CNBC states that: "Just 8 percent of Americans are invested in cryptocurrencies." 92% to go! We're not even talking about the rest of the world here! Further regulate, further legitimize, evolve better cryptocurrencies.
Check out that story for yourself if you'd like: https://www.cnbc.com/2018/03/16/why-just-8-percent-of-americans-are-invested-in-cryptocurrencies-.html
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This proves my point exactly, and the results of the regulations will also strengthen the cryptos that will survive more than the normal, i think the world of cryptocurrency is just about to boom. Thanks for the link i will check it now
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It should build confidence and allow for investors to start investing into crypto which is why I see predictions for bitcoin being so high once adoption does take place only a matter of time.
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Regulations will simplify some things and allow a more consistent ground for some of the bigger financial players to enter the space.
If regulation targets the anonymous coins, they won't disappear completely. It may just take a bit more effort to reach them. Just as crypto trading in the beginning took a bit more effort and specialized knowledge.
Overall, probably a good thing for the cryptocommunity.
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I believe this as well, the anonymous coins will still be there however never be mass adopted they will be more underground like bitcoin was when it first started out. That does however mean a trade off in value I think.
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Regulation is good for society. It will keep people from wildly investing in things. Too often, people follow the crowd or follow the trend without being educated or informed. Regulation causes companies, institutions, et al to be accountable so that they don't put junk out there for the masses to (gamble on) invest in, all due to FOMO. Just remember: regulation doesn't mean absense of decentralization. It just helps to protect us from the scammers.
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I don't know.. this does not look like a positive thing to me, but I want to be wrong.. we are quite reliant on the Asian markets at the moment...
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I think it is positive in terms of adoption and the value of certain coins hitting all new highs. But its not good news for other cryptos and ICOs that pride themselves on being anonymous. It almost makes me wonder if we will see a totally transparent traceable coin that governments would love and do a complete 180!
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Well, I appreciate your angle and I want you to be right... I do believe crypto will succeed in the long term, its not like im going to fall for the FUD in that sense... It's just that I'm ready for the bear market to stay away for a good while, need to recover the portfolio.
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Respectfully OP, The fact that the gov wants to regulate out these anonomous coins is not a big win for the crypto community.
More use cases, and more people using crypto for regular day to day transactions is what is good for crypto and further adoption.
The gov realizes it can’t get rid of crypto so the next best option is to regulate the heck out of it. But I don’t think this is ideal for us. I think the entire point of crypto is the fact that we can regulate the currencies ourselves without getting the government tied up in all of this. If we let gov start regulating crypto, we might as well just go back to using dollars for everything.
The government hates the idea of not being able to track transactions of users. It still wants to control the money supply. And if we let it regulate crypto, we lose the decentralization that made crypto enticing in the first place. I think we need to do what we can to push back against this, but if we lose Monero and others, hopefully someone will be able to do something fancy with smart contracts to enable there to be some form of private transactions.
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This will potentially slow down progress and adoption but not stop it as decentralized exchanges will become increasingly attractive gateways to get all types of assets as they are not easily controlled by 3rd parties. We may see the anonymous assets go towards these exchanges as the pressure increases.
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Like it or not but in order for crypto currency to go even further it will go through some changes like sacrificing one of the best features which is anonymous transactions. It might look bad but this means even more people will drawn to crypto currencies. Then you can only imagine what new heights the crypto currency will reach.
That is just my opinion.
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I think governments will have a challenge implementing regulations into decentralized exchanges. Most likely won't be an easy task for them. Binance for example went to Malta to avoid government regulation/bans. A smart exchange would want to serve customers as best as possible by providing many cryptos of their choice to trade with.
Great post, curious to see where it plays out! @bitcoinflood
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Wouldn't that mean Ethereum be blocked as well bc it has monero and zcash privacy tech?
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Contacts make it possible to track it I dont see ETH being one that is going to be blocked.
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No if zcash is being blocked bc it has zk-SNARKs which is not active on every transaction. Eth has zk-SNARKs as well along with ring signatures so....
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If bylaw targets the unnamed coins, they won't evaporate completely. It may merely pilfer a speck new shot to accomplish them. merely as crypto trading in the inauguration took a smidgen new exertion and particular knowledge.
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great post
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Gran informacion, saludos!
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you have success how about me? is there any ease for me a little from you? best friendship from @ fauzan11
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economic growth is our desire all, especially now bitcoin any cripsto currency is very attractive for future investment.
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Good and Bad in Everything Yes bitcoin will grow once the "powers that be" decide on how they are going to become involved in taking their piece of the pie.
People follow once they feel they are covered by regulations, strange but none-the-less that is the way it is for majority who have been brain washed.
Small crypto will play it's part, not only being anonymous, thinking along the lines of paying people over borders, trading/bartering their knowledge on the sidelines, web designers, bot designers, logo etc. who prefer working in a "trade/barter" system to moving currency at excessively high cost.
Smaller coins will have a place IMHO, that is why I support community driven project like #SuperiorCoin (SUP) using @kryptonia where this type of coin is already in use.
#Steemit is similar in trade/bartering, you pay bots to upvote or resteem content using crypto in Steem and SBD these smaller coins will grow and go along into the future. Content is what you are trading in, your thoughts appreciated @bitcoinflood
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very very beautiful
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Excellent Post, I'll be following you, I hope to see you on my Blog. God bless you
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nice one sir... will be very glad and i will be honored to have you upvote me... i just join of recent... thank you
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Excellent post!
I am brand spanking new to Steemit and would appreciate your feedback to my new post Titled: "Bitcoin, John McAfee, The story of the Sultan and his Flying Horse and why we should pay attention to Warren Buffett"
https://steemit.com/bitcoin/@shenobie/bitcoin-john-mcafee-the-story-of-the-sultan-and-his-flying-horse-and-why-we-should-pay-attention-to-warren-buffett
Let me know your thoughts,
Cheers,
@shenobie
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Thanks for sharing ❤ @bitcoinflood
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Nice Post!
I am brand spanking new to Steemit and would appreciate your valuable feedback to my latest blog titled: “Bitcoin, John McAfee, The story of the Sultan and his Flying Horse and why we should pay attention to Warren Buffett.”
https://steemit.com/bitcoin/@shenobie/bitcoin-john-mcafee-the-story-of-the-sultan-and-his-flying-horse-and-why-we-should-pay-attention-to-warren-buffett
I look forward to your thoughts and feedback.
Cheers,
@shenobie
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upvoted, followed!
Follow back @aitrading.com ;) We are not a shop or service stuff . We are AI-powered trading ecosystem.
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You're on the @abusereports naughty list! Bad Steemian!
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