News Crypto and cryptocurrencies

Dash now tries to break free from her bad reputation

An operation that promises to be complicated, however

The decision of Bittrex, with which theexchange in practice it canceled the negotiations relating to privacy corners on its platform, it seems destined to weigh heavily in the near future. This is demonstrated in particular by the attempt by the development group of Dash, involved in the operation together with Monero e Zcash, of disengaging from a label that has now become too dangerous. An attempt which, however, has already provoked more than a piqued response from cryptography enthusiasts. Let's go and see why.

Dash coin - Dash now tries to break free from his bad reputation

Bittex's decision

From January 15th, Bittrex will proceed to delisting of Monero, Zcash and Dash from its trading platform. A decision which was now predictable, in light of the offensive by the monetary authorities against the so-called privacy coins. A label that unites the tokens which promise their users high levels of confidentiality, or even anonymity. But that has nevertheless caused a certain uproar, precisely because of its possible implications. Which are very dangerous for the offending projects. Especially if other exchanges were added to Bittrex.

Dash's piqued reaction

The first to move to try to put a stop to what is happening were the developers of Dash. Who stated in a tweet that they moved to ask for a clarifying meeting with the management of Bittrex. Also adding that it is improper to label your creation as a privacy coin.
A statement, the latter, which however sounds like a real contradiction, in the light of what is stated in the 2017. At the time, in fact, the token development group was not too hesitant to present Dash as the first cryptocurrency in the world focused on privacy. As can be seen from a screenshot archived from the Dash Foundation website.

Dash like Bitcoin?

Another direction towards which the Dash development group has begun to move is the one tending to to equate the levels of confidentiality to those highlighted by Bitcoin. Even in this case, however, the new strategy clearly conflicts with the statements of the past. When highlighting the ability to prevent transaction tracking seemed a very profitable policy. This, however, did not turn out to be such, especially in light of the decisions taken by various governments, aimed at opposing a possible use of digital money in order to launder capital deriving from illegal activities. With a series of moves which could have very serious consequences already in the immediate future.

Fear begins to spread through the crypto industry

The new story triggered by Bittrex's decision naturally prompted many observers to highlight the fear that begins to spread through the world crypto. Witnessed precisely by the attempt, at the moment quite clumsy, by Dash's management to disengage from a dangerous reputation.
A fear which, moreover, is quite understandable in the light of what is happening to Ripple. The value of which dropped heavily after the lawsuit filed against the Californian company by the Securities and Exchange Commission. A decrease also resulting from the delisting of XRP by a large number of exchanges, large and small. If even for Dash, and the other privacy coins, the ban on trading platforms were to start, the situation would become very difficult to manage. In fact, it is enough to look around the Dash quotation to realize this.

Buying Cryptocurrencies? Exchange Binance Binance

Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

Leave a comment

Your email address will not be published.

Back to top button