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What do you think about Privacy Coins?


josemendez
(@josemendez)
Active Member
Joined: 3 weeks ago
Posts: 40
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Privacy coins were created to argument for the deficiency in bitcoin transaction which lacks the features of hiding the transaction details,  because the transaction are recorded in blockchain . People can easily see the transaction details , know the total wallet balance of the sender and receiver and many other personal information. 

 

With Privacy coins , transaction details are hidden and there is no way to trace the source of the transaction. This gave room for people who hold privacy to a high esteem. People accepted the two popular privacy coins , Monero and Dash with open hand. Unfortunately , bad players entered into using these coins for illegal activities, such as funding terrorist group and mine laundering. 

 

This made the government of various countries to work towards banning privacy coins . Exchanges started delisting them with only few of the exchanges allowing it. Would you want privacy coins to still exist in the cryptocurrency world ,perhaps with some sort of regulation or should there be an outright ban of privacy coins ?


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