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"Certain crypto assets, which are often referred to as privacy coins, private coins or anonymous coins, attempt to hide information about transactions, giving users more privacy.
A number of possible methods exist for adding privacy to Bitcoin, including peer-to-peer trading, although multiple crypto assets focus on privacy more directly via their technology.
Government overwatch on privacy coins has grown in recent years, as shown in part by the IRS’ efforts against Monero’s technology. Privacy coin references also surfaced in the U.S. Financial Crimes Enforcement Network’s proposed regulation on self-hosted crypto wallets in December 2020."
Article: What are privacy coins and how do they differ from Bitcoin?
We all know some of the advantages of crypto: decentralization, high speed, low cost, and anonymity. XMR, ZEC, XVG have been supported by the community because they are privacy coins, that is, no one can know the information relating to the transaction.
Recently, however, under pressure from exchanges and governments, we have seen DASH deny its own anonymity feature. The Bitcoin community seems reassured because BTC is not a privacy coin.
I really don't understand this. As far as I know, crypto revolutionizes against the manipulative hands of governments, but it seems that under the pressure of regulation and community greed we forget the purpose of the revolution. This is only for our coin/token to be accepted.
I understand that project teams need to find a way for their coins/tokens to exist in the market, but when we surrender to the government, I feel sorry for Satoshi Nakamoto.
What happens next with privacy coins? Will the crypto community continue to support them or are they just silently watching them continue to be crushed by the government?
A number of possible methods exist for adding privacy to Bitcoin, including peer-to-peer trading, although multiple crypto assets focus on privacy more directly via their technology.
Government overwatch on privacy coins has grown in recent years, as shown in part by the IRS’ efforts against Monero’s technology. Privacy coin references also surfaced in the U.S. Financial Crimes Enforcement Network’s proposed regulation on self-hosted crypto wallets in December 2020."
Article: What are privacy coins and how do they differ from Bitcoin?
We all know some of the advantages of crypto: decentralization, high speed, low cost, and anonymity. XMR, ZEC, XVG have been supported by the community because they are privacy coins, that is, no one can know the information relating to the transaction.
Recently, however, under pressure from exchanges and governments, we have seen DASH deny its own anonymity feature. The Bitcoin community seems reassured because BTC is not a privacy coin.
I really don't understand this. As far as I know, crypto revolutionizes against the manipulative hands of governments, but it seems that under the pressure of regulation and community greed we forget the purpose of the revolution. This is only for our coin/token to be accepted.
I understand that project teams need to find a way for their coins/tokens to exist in the market, but when we surrender to the government, I feel sorry for Satoshi Nakamoto.
What happens next with privacy coins? Will the crypto community continue to support them or are they just silently watching them continue to be crushed by the government?