OKX Delisting Dash, Zcash, Monero and other coins

[qwizzie]

Privacy Tokens DASH, ZCH, XMR Take Hit as OKX Says It Will Suspend Trading
https://www.coindesk.com/business/2...take-hit-as-okx-says-it-will-suspend-trading/

'More than 20 trading pairs will be delisted next week as they no longer meet the crypto exchange's listing criteria.'

Privacy tokens dash (DASH), monero (XMR) and ZCash (ZCH) slumped as much as 10% as prominent crypto exchange OKX said Friday it will delist their trading pairs on Jan. 5.

“Based on feedback from users and the OKX Token Delisting / Hiding Guideline, we will be delisting several trading pairs that do not fulfill our listing criteria,” OKX wrote on its website.

While OKX did not explicitly say it was banning the tokens because they offer enhanced privacy for transactions, many of those listed fall into that category.

 

[xkcd]

This is very much a over reaction in the case of Dash which meets compliance in the first instance. I am sure the decision will be appealed and overruled.

 

[qwizzie]

Who do you think will do the appealing ? I think this DCG-turned developers-group has shown little interest to appeal Dash delistings to exchanges or pro-actively improve the perception of Dash by exchanges (many still view Dash as a privacy-focused coin) and instead are just focused on code-development, ignoring pretty much anything else.

 

[GrandMasterDash]

Note how OKX continues to keep Litecon even though it has arguably better and faster privacy.

2024 also starts with UK customers required to complete KYC questionnaires. Of course, these questionnaires will not satisfy regulators so people should expect more draconian measures later in the year.

Now is the time, one final push, to go as deep into this shit as you can afford and tolerate.

 

[GrandMasterDash]

I want to also point out, companies like Kraken are also locking accounts to people who do not declare the status of their "unhosted wallet" deposits AND withdrawals.

Before google was even a thing, there were virtual e-card scammers. I call them scammers because they would ask senders to dox on the recipients, knowing full well that the answers would never be forthcoming if they asked the recipients directly. The "travel rule" is the same scam. Governments are actively operating the same scam. On the one hand they talk about "data privacy" while also demanding the complete transparency of all transactions, in and out.

If I'm a criminal until proven innocent, then code is law and fuck you banks and exchanges.

 

[Dans]

As long as we depend on third parties to provide liquidity to a project, we will be at the mercy of those third parties.

I take the case of Maya Protocol as a positive example. We have liquidity and an exchange market without requiring any KYC.

When I entered this world many years ago, I did so thinking about shaking off state control at least to a certain extent. Today, I see the direction that all this is taking, and it makes me want to run away without looking back.

Why encrypt something if it finally has to be regulated and controlled by the same people as always? I don't know if Satoshi N is alive or dead, but what I do think is that I doubt that he intended to create a currency that would serve the extortionists to continue subduing the citizen.

Monero knows that it will end up being removed from all KYC possibly, but at least they are aware of their fate, and accept it, because that is what they are.

What is Dash? What is Dash looking for?

Eat from the hand of the system? ...if that's what you want, let me know, because this is not my place.

 

[jimy]

DASH responce to FinCen in 2021

"If FinCEN nonetheless takes the position that CoinJoin rules contained in the same executable defines a coin as an AEC (which the government has never articulated in the past), then Dash Core Group could respond to regulators by — trivially — separating the CoinJoin rules module from the rest of its software and republishing the software separately as two distinct pieces of software, in the same way that Microsoft could publish Word and Excel separately or as a package. Publishing these functions separately would have no impact on the user experience, no impact on the efficacy of Dash’s CoinJoin, and would have no impact on the ability of law enforcement to analyze the transactions; it would simply be box-checking to placate a definition"

Why Dash Core Group don't do that and all this nonsense could be avoided ?

 

[GrandMasterDash]

DASH responce to FinCen in 2021

"If FinCEN nonetheless takes the position that CoinJoin rules contained in the same executable defines a coin as an AEC (which the government has never articulated in the past), then Dash Core Group could respond to regulators by — trivially — separating the CoinJoin rules module from the rest of its software and republishing the software separately as two distinct pieces of software, in the same way that Microsoft could publish Word and Excel separately or as a package. Publishing these functions separately would have no impact on the user experience, no impact on the efficacy of Dash’s CoinJoin, and would have no impact on the ability of law enforcement to analyze the transactions; it would simply be box-checking to placate a definition"

Why Dash Core Group don't do that and all this nonsense could be avoided ?

The nonsense is people trying to appease government even when it's trivial. Code is law, that's it, nothing more, nothing less. Whether it's government or the free market, every one of us lives and breathes law that is written in code yet without legal basis. For, even when there is legal basis, the rules will be irrationally and discretionarily accepted or rejected on the whim of a single person. There are no guarantees of A, B, C if you comply with X, Y, Z. Will our users be guaranteed banking services, or the ability to transact with any other human in the world of their own volition?

These governments divide and conquer. Give their blessing to some groups while suppressing others. We can do as we please so long as we give up our time and labor to pay them first before paying ourselves.

Where did these words come from, AECs and VASPs? These are not our words or those of William Gibson, but of government bureaucrats that must invent their own language to help them feel relevant and useful. It is said, the road to hell is paved with good intentions, that is the mind of a politician, all politicians. They feel they are mother, that we need mothers. They are going to protect us from the evils of the world while ignoring the abuse that comes from such power. Every rule, all compliance, is a stone in water, dislodging the water but nothing changes. There is only cause and effect.

 

[kot]

Code is law, that's it, nothing more, nothing less.

In which reality?

 

[xkcd]

In which reality?

Ask Monero, barely impacted by news, strong bones needed if you want to change the world. Problem with Dash is it was lead by a team of molluscs and that attracted weak hands and we are getting killed by unprincipled people. Dash could be making its own narrative in this mess, embrace the privacy and attract so much more capital in here, but instead we wet the bed.

DEXes available, Maya, Komodo, BasicSwap, StealthEX (broker) and so on, yobit Russian based CEX, long supporter of Dash. To spend, try Bitrefill, Swappin, Spritz, and many more, what are we complaining about? Monero doesn't have many of these. Ask your wife for your testicles back and fight for your right to financial privacy.

 

[kot]

@xk
Does Monero constitute reality?
Monero bubble isn't reality.

Wake up. It's not 2014 anymore. Crypto became serious business.
Dash, on the other hand, is still in "code is law" delusion. I guess there wasn't enough beating yet. More to come if nothing is changing.

You can write about testicles or other shit - I really don't care. Then look at the chart, crypto news, cmc and let me know where Dash is .

 

[GrandMasterDash]

In which reality?

Every time you are in a call queue or your only contact option is a nameless chatbot sending you in circles, stealing your valuable time, then yes, the code is law.

When online forms are overbearing but required, that too is law.

When private organizations are using facial recognition, voice prints or automatic number plate recognition..

When someone says, "sorry Sir, the computer won't let me do X, Y, Z", that too is law.

When an ATM dictates how, when and where you can withdraw cash...

When social media manipulates your thought process and guides you to certain conclusions, while ignoring / silencing certain facts or symbols, that too is code is law.

When google demonetizes youtubers for copyright music in the background, or an algo defects certain hot button topics e.g. covid, then that too is code is law. It's perfectly legal to have copyright music in the background, but algos uphold a different law.

Code is law because it is practically impossible to distinguish between the intentional and unintentional. When the code is public, no novel exploits exist, only the possibility of human limitation and fallibility. And if the code is obfuscated, it is nothing more than a leap of faith for both the developers and it's users.

 

[kot]

Ok then - all is great.

 

[xkcd]

Many people such as yourselves think that bending the knee would have a favorable outcome, nothing could be further from the truth, in fact, Dash's perceived compliance has already cost us dearly with lost community members, if we were to throw in the towel now and attempt to appease the powers that shouldn't be, even more community members would leave, such as myself. We need to do the opposite and double down on our efforts to become private digital cash, that's our best path forward to garner adoption and improve the metrics.

 

[kot]

Excellent. What a brave and visionary statements!
Let's ignore the world outside - this is the best way to create successful products.
Let's ignore delistings, legal systems and regulations used and respected by 99.99% of population - nothing improves metrics like this.
Let's create private digital cash that will be forbidden to be used in any store, website, payment procesor - basically everywhere except one DEX (until their developers are forced to change that).

All of the above looks like the most sophisticated adoption strategy I have ever seen. Dash future is bright.

 

[xkcd]

Excellent. What a brave and visionary statements!
Let's ignore the world outside - this is the best way to create successful products.
Let's ignore delistings, legal systems and regulations used and respected by 99.99% of population - nothing improves metrics like this.
Let's create private digital cash that will be forbidden to be used in any store, website, payment procesor - basically everywhere except one DEX (until their developers are forced to change that).

All of the above looks like the most sophisticated adoption strategy I have ever seen. Dash future is bright.

Kot, I totally get from where you're coming from. As someone who has lost 99% of my investment in Dash, you would think I would be the first to sell out and do anything for that one final pump, but alas, that is not the case. You see, if Dash complies with all the draconian measures, then three things will happen.

1. Dash will be no different to something like Bitcoin, note that instantsend is not adopted by any third parties and likely never will be, we still need to wait for 1 conf and sometimes 50. Bitcoin is usually accepted after one conf on all major exchanges, the Dash advantage will be gone and all we will be left is the horrible price and that will worsen as more people sell.
2. Nothing will change, you assume the threats made on Dash come from a deeper analysis of the coin and true understanding of our tech and that those attacks would abate if we only bent that knee and fell in line! You are so foolish I can hardly believe it. I hope you are not so trusting in your day to day life, I suspect this is not so.
3. We will have given up on what makes Crypto great. Satoshi didn't invent Bitcoin to comply and dove tail into the legacy financial system, read the inscription in Block 1 on Bitcoin. We are inherently anti-establishment and pro-human. If you believe in money for the people of the people and financial privacy, I assume you do, then you must stand up and fight against all the odds! Even if that fight seems futile, even if you stand to lose everything! Show some backbone, man! Remember those that came before us, Snowden, Assange,Bradley Manning. Fight damn you! Fight !!!

 

[qwizzie]

Binance broadens ‘monitoring’ tag to cover 10 more tokens, including Monero and Zcash

Binance extends its monitoring tag to encompass 10 more tokens, including Monero (XMR) and Zcash (ZEC)

crypto.news

Luckily Dash is not one of those 10 tokens. At least not yet...

According to a press release, the newly incorporated tokens on the Monitoring Tag list include Keep3rV1 (KP3R), Reef (REEF), Aragon (ANT), Firo (FIRO), MobileCoin (MOB), Mdex (MDX), Vai (VAI), and Horizen (ZEN).

+ XMR & ZEC

Binance clarified that tokens with its ‘Monitoring tag’ undergo rigorous scrutiny due to their heightened volatility, subject to regular reviews ensuring compliance with listing criteria. The platform cautioned users that failure to meet these standards could result in the delisting of tokens.

To trade these specified tokens, users must complete necessary quizzes every 90 days, coupled with a prompt to accept the platform’s terms of use. This process aims to equip users with vital information about associated risks before engaging in transactions.

Always nice to do these quizzes, every 90 days. If only users could get paid to do them....oh wait.. thats online surveys.

So first OKX with actual delistings, and now Binance taking these 'monitoring' actions (which could be a prelude to future delistings for specified tokens).

 

[GrandMasterDash]

I think for the entire 2024 we are going to see a barrage of increasingly restrictive crypto exchange requirements.

The problem is, crypto is so widely defined as an asset and a dollar making investment, that regulators are testing to see how far / desperate the crypto cult will go.

This is why I am almost entirely outside of the fiat system. The meme, "You'll own nothing and be happy" is usually used in a negative way, but I've been increasingly living it in a positive way i.e. de-risking the ability of the state to have leverage over me.

I had my Kraken account locked because I didn't answer questions about my "unhosted wallets". I suspect it's part of a wider investigation as I am seeing other red flags. Sources are telling me, questions are being asked about very low value transactions, in the $20 - $30 range.

 

[kot]

Kot, I totally get from where you're coming from. As someone who has lost 99% of my investment in Dash, you would think I would be the first to sell out and do anything for that one final pump, but alas, that is not the case. You see, if Dash complies with all the draconian measures, then three things will happen.

1. Dash will be no different to something like Bitcoin, note that instantsend is not adopted by any third parties and likely never will be, we still need to wait for 1 conf and sometimes 50. Bitcoin is usually accepted after one conf on all major exchanges, the Dash advantage will be gone and all we will be left is the horrible price and that will worsen as more people sell.
2. Nothing will change, you assume the threats made on Dash come from a deeper analysis of the coin and true understanding of our tech and that those attacks would abate if we only bent that knee and fell in line! You are so foolish I can hardly believe it. I hope you are not so trusting in your day to day life, I suspect this is not so.
3. We will have given up on what makes Crypto great. Satoshi didn't invent Bitcoin to comply and dove tail into the legacy financial system, read the inscription in Block 1 on Bitcoin. We are inherently anti-establishment and pro-human. If you believe in money for the people of the people and financial privacy, I assume you do, then you must stand up and fight against all the odds! Even if that fight seems futile, even if you stand to lose everything! Show some backbone, man! Remember those that came before us, Snowden, Assange,Bradley Manning. Fight damn you! Fight !!!

Yeah...
That is all beautiful and sounds amazing and brave.
But what actually do you do and wll do to increase metrics and adoption?

 

[Phil7]

Kot is 100% right about it all.

Some people are seemingly still confused about the WHY of all the KYC & ruthless anti-privacy crusades:
IT´S ALL ABOUT THE TAXMAN !!!!
BECAUSE THE GULLIBLE MASSES WERE BRAINWASHED TO ACCEPT & TOLERATE INCOME TAXES & CAPITAL GAINS TAXES LIKE THE OBEDIENT SLAVES THEY ARE.
Our overlords are desperate for the tax dollars, in order to send them to israel, ukraine or spend it on welfare handouts to buy them more votes.

The brave financial-privacy "warriors" here don´t get a simple fact:

1) Our project is WEAK, because our price heavily depends on major CEX listings.
Our current price consists for 90% from the major CEX listings. Do away with all the major CEX listings, and price will collapse another 90% down.
2) We have like 100% CEX volume and 0% DEX volume
3) Waging this stupid privacy war will eventually kill this project by mass delistings, a sure-fire way to self-destruct
4) IF we were STRONG, like having 90% of DEX volume, THEN we could give regulators the middle-finger without self-destruct
5) This privacy-feature attracted investors & money back in 2014-2016, but right now attracts like ZERO, and has become a liability
6) Soon the damage inflicted by CoinJoin will be 10times larger than anything we gained from it, back in 2014-2016

The most super-brave argue: "i don´t care about Dash price"
yeah sure, because you most likely own less than 3 coins.

Time to wake up from your delusions to fight a lost war, because of our current weakness.
But you geniuses prefer to play tough, like a lone wolf with a watergun facing the entire U.S. army.
I am not saying we will forever remain weak, it all depends on the percentage of DEX trading volume.
But right now, we are WEAK and pretending to be strong will only result in one thing: bankrupting ourselves.

But most unfortunately don´t have the courage to face reality.
They prefer daydreaming about some principles they hold so dear.