Author: 0xTodd
It reminds me of nine years ago when I first entered the Crypto circle, immersed in an obsession with the technology itself.
Such as Dash relying on mixing mechanisms, Monero relying on ring signatures, ZCash relying on zero-knowledge proofs, etc.
Debating which privacy mechanism is more thorough, how obfuscated addresses correspond to transparent addresses, and how much entropy is added.
Looking back at myself then, primarily showcasing “clear stupidity” 🤦.
In the end, up or down, technology accounts for at most 10%, while non-technical reasons account for 90%.
Let me ask:
Both being extreme privacy, why does ZEC pump while XMR does not?
It's very simple, because XMR has been delisted by Binance and Coinbase.
The market makers are not charitable; if it’s not listed on the exchanges, even if it pumps, who will they sell to?
Then why, since both are listed on the exchange, does ZEC pump while DASH does not?
Because the exchange's major holder DCG holds ZEC, but not DASH.
(ZEC is among Grayscale's top holdings, as shown in the data)
Then why does the exchange delist XMR?
This is probably the only one that has a bit to do with technology.
XMR enforces privacy, while ZEC allows both transparent and private accounts.
Moreover, just look, CB and BN can only withdraw to transparent addresses, they don’t play with obfuscated addresses. To avoid trouble, exchanges delisted XMR.
And, to be honest...
Those black market giants generally only trade Tron USDT and BTC, really not caring about privacy.
Caring about privacy is a hacker's angle, but General Jin’s favorite is obviously Tornado 🌪️, this mixer, rather than these privacy coins.
For no other reason, big money can only be stolen on EVM chains; privacy chains have nothing except privacy, so General Jin can just steal a package.
Of course, I’m just casually complaining.
Given time, if XMR and DASH pump again
then it *cannot prove* that ring signatures or mixing mechanisms have defeated zero-knowledge proofs.
It *can only prove* a new market maker has defeated the old one.
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