Recently, it emerged that crypto exchange, BitOasis was delisting Zcash (ZEC) and Monero (XMR). This caught investors by surprise. There wasn’t prior notice indicating that they would be doing it. However, this is not the first time that these two are being delisted. A while back, Japanese exchange, Coincheck, announced that it was delisting them following pressure from regulators. But that’s not all, in 2018, a U.S government department had advertised for tenders for anyone who can help the government get its way into these two cryptos.
The pattern here is clear, governments are uncomfortable with these two cryptos, because they can’t get backdoors on them. But is that really a bad thing?
Well, for short-term crypto speculators, this may be a reason to panic, because every time a major exchange delists them, they are likely to dump. However, for those in crypto for the long haul, these moves are actually a reason to be bullish on these two cryptos. That’s because, the fact that they are hard to build backdoors on, means they are good at what they are designed to do. It means that people can make anonymous payments with them, in confidence that they can never be tracked.
In a world where people are becoming more conscious about privacy issues, and society increasingly goes cashless, these two cryptos will see a huge surge in demand. It is this demand that will play a role in pushing up their value in the long haul. But this demand won’t just come from retail money trying to move a few bucks privately, it will also come from institutional money. Like individuals, no institutions like publicity when sending money from one point to the other. This creates a scenario where billions of dollars could in the future, be moving through these two cryptos, and that’s value.
Then there is the fact that due to their strong privacy capabilities, these two could end up taking up the role of off-shore banking in the future. Off-shore banking destinations are increasingly under pressure from governments to provide information. That’s why, over time privacy coins could take up their role. Monero and Zcash are perfect for this role because, on top of their strong privacy capabilities, they have a very low supply. This means they are likely to increase in value as demand for crypto grows.
In essence, things may be rocky in the short-term, but in the long run, these are among the cryptos that are likely to be very valuable. In a market where a good percentage of altcoins have no value beyond speculation, these two easily rank in the same category as Bitcoin (BTC) and Ethereum (ETH) in terms of fundamental value. It’s an interesting future ahead for them, as the world slowly starts to appreciate the value of crypto.