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r/CryptoMarkets
72
Posted by
Tin
4 months ago

South Korean top 5 exchanges have announced the end of transaction support for Litecoin (LTC)

Including Upbit, Bithumb, Coinone, Korbit, and Gopax. The reason for termination is the MimbleWimble Extension Blocks (MWEB) network upgrade carried out by Litecoin (LTC) and as it was judged that anonymous transmission technology was added.

75 comments
91% Upvoted
level 1
Comment removed by moderator · 4 mo. ago

3 more replies

level 1

MimbleWimble Extension Blocks sounds like something out of a children’s book

26
level 2
· 4 mo. ago
Tin

It's a privacy-focused upgrade so I'm guessing this has something to do with regulations.

12
level 2

It is! Lolol. It's from Harry Potter!

3
level 2
· 4 mo. ago
Tin | 6 months old | QC: BCH 20 | BTC critic

It's all pretty stupid and childish to be honest.

1
level 2

That’s timey wimey wibbly wobbly

1
level 2
· 4 mo. ago
Platinum | QC: CC 344, LTC 22 | r/Politics 37

It is literally out of a Harry Potter book. So yeah good guess.

1
level 1
· 4 mo. ago
Tin

Monero and Firo are of similar plight in the US CEX, but I believe it has a place to those folks that embrace privacy in a good way especially to those countries that are oppressive. Politicians and regulators misunderstood what privacy is in cryptocurrency; it is just the same as anonymous cash tendered on a store. But the irony is - privacy crypto are often viewed being used for shady activities by the hackers in a ransom situation; and that reputation is being magnified by the regulators. So unfortunate.. if only most folks look into the privacy features of these coins, it actually benefits us all.

10
level 2
· 4 mo. ago
Platinum | QC: XMR 224

Monero and Firo are of similar plight

They can’t be of similar plight, because one is a legitimate project and the other is an irredeemable shitcoin.

6
level 2

This isnt irony but facts. Privacy coins are awesome, true to the definition and are revolutionary technology. Unfortunately when you have a country with MILLIONS of citizens embracing such a technology comes with the cost that it being used by bad actors, theives, hackers, etc...

So until they figure out how to stop bad actors from ruining the essence of such beautiful technology it has to be banned.

3
level 2

But the irony is - privacy crypto are often viewed being used for shady activities by the hackers in a ransom situation; and that reputation is being magnified by the regulators. So unfortunate.. if only most folks look into the privacy features of these coins, it actually benefits us all.

Solid point. It's quite preposterous for privacy to be viewed in that way only. Privacy is a right and we all need it for sanity. The benefits that privacy protocols comes with cannot be overemphasized. And the interesting thing is that crypto and defi is largely public currently. Any one who gets a hold of your wallet address can estimate how much you've got, when and where you've been trading and making transactions even if it's none of the person's business. It is totally ridiculous and should be a concern. Personally, I am a privacy freak, although Railgun is my favorite privacy focused project. Nevertheless, I believe that a paradigm shift is necessary for us to make the best out of privacy and how it secures our identity

3
level 2
· 4 mo. ago
Tin

Well its absurd to be of the perspective that privacy coins are just for carrying out heinous crimes in the shadows without trace, and the fact that the regulators are amplifying this makes it worse. Privacy is a basic right to everyone and when the need for compliance arises, users can make their transactions available to the affected party. We already have a few protocols that grant complete on-chain privacy and can generate these reports when it is needed. Bottom line is benefits us all and no one should be able to look in and see your entire financial history, what you spent your money on and how much you have in your wallet. It doesn't sit well with a lot of us.

2
level 2
· 4 mo. ago
Platinum | QC: XMR 459 | MiningSubs 15

Uh, monero doesn't face this problem with cex in the US. It's on kraken.

1
level 2
· 4 mo. ago
Platinum | QC: ETH 99, GPUMining 26 | MiningSubs 136

Cash eventually has to be deposited in a bank, that's how it gets tracked.

I don't mind privacy coins but they'll never get a big pump due to lack of adoption.

0
level 1
· 4 mo. ago
Tin

I currently only have a Bitcoin node on my server. Guess I'll set up a Litecoin node too.

9
level 2
· 4 mo. ago
Tin

No problem if you go to Virtualization; you can basically stack up as many nodes as long as you have the available cores and bandwidth. Good luck then 😎

1

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