I’m too lazy to check my account, but I think this is only showing up on users who don’t trust Binance. 
“Can’t Afford the Enhanced Due Diligence”
For Binance, there is no possible way that it makes business sense to have to employ extra labor and resources just for Zcash.
The ZEC markets on Binance are just a drop in the ocean related to all of the total volume traded on all of their other markets and products.
To Binance, it probably looks like trying to squeeze water out of a rock. Which leads to their responses which essentially ask for the Zcash teams to build a new feature to carry the weight on the Zcash side of things.
Yesterday Binance had 12 billion in trading volume, and 11 million of it was from Zcash.
The can easily Delist Zcash and forget about us 
That outcome hurts us 1000x more than it hurts them.
Zooko’s hypotheticals about some big government conspiracy against Zcash are hilarious 
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Have you tried to purchase/sell 1000 ZEC on a DEX?
On sideshift, the tx size is capped at 10000 USD and the quote is 2.5% higher than on Binance.
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No, but how many Zcash users do you think trade 1000 ZEC at a time? Are we here to talk about ZEC whales who are happy to speculate on ZEC and never have used a shielded wallet or ZEC users who wants to buy a few ZEC to save and perhaps buy something with shielded ZEC when they are able to?
Btw I’m sorry if I shouldn’t talk about Binance because I don’t trade 1000s of ZEC.
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It’s supposed to be like cash. How much do you think should the max tradable be then?
1000 ZEC is less than 1 BTC. I don’t think that makes you a whale.
Every major cryptocurrency has a significantly higher size.
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Those who can trade 1000s of ZEC is likely to have avenue other than Binance to trade. Coinbase is accessible to many countries too, although some of them will be “crypto-only”. Binance has considerable volume of ZEC trade, but from what we can see of their words and actions, Binance value does not align with privacy and freedom.
If you want to work on this, great. I will not ridicule your input but as a ZEC user, I would like ECC, Shielded Labs, ZCG and ZF to spend less time on dealing with Binance whim and focus more on other partners whose values align with privacy and freedom.
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I didn’t say 1000s. I said 1000 or 100s if you prefer.
I understand you dislike Binance for their core values but I think that cutting CEX means losing a large portion of the user base.
DEX max tx volume is lower and you pay more transaction fees. Maybe this is an acceptable trade for you in pursuit of freedom & privacy.
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I do not like this saying and I am sorry that crypto has reached this point, but it exists among a large number of people: “if your coin is not for binance, then it is a shitcoin”
I have already written that this will primarily mean a loss of image. And there are not even 100 ZEC от DEX today, let alone 1000. What is demonstrated in the ZecHub video has nothing to do with DEX, it is only automatic API bundles creating pools of liquidity. Each such bundle has an official account, including on the binance. It is such bundles that allow you to have normal liquidity there. Of course, everything is very cool there, especially the bundle with the Zcash node, which allows us to give a shielded exchange. But in fact, if you remove the coin from the CEX, it will disappear from these so-called DEX.
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In current realities, 1000 ZEC is ~24000$. Look at the amount of any requested grant. If ZEC leaves CEX except Coinbase, the developer pool narrows to the North American continent only.
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Users also lose access to Binance Pay.
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No amount of pandering for a failing centralized exchange capture by government with be enough
The point is We have to look what the players and their own goal are
The government want to kill privacy coin PERIOD END OF STORY (Money printer power goes OP and brrrrrrrrr) (much war much wow LOL)
The CEX wants to Save it self and make Money (since they got capture LOL)(aka Binance)
Privacy coin will not survive if no one has any organic growth in DEX or P2P market of buying/selling
Privacy coin entire community will not survive if its values of privacy get capture LOL
Zcash need DEX and P2P options more then ever
Zcash need better default network level privacy
Zcash need to unify under the unified address that means get rid of the t-address (even if you want to defend the transparent pool)
Zcash need to get rid of old trusted setup bloat from its code base
If Zcash can keep up the debate of POW/POS to give credit of which work better for privacy and censorship resistance Zcash will Win (maybe Zcash becomes ETH of Monero BTC LOL just maybe LOL)
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Evidence please?
Governments want to kill the funding of terrorism, financial crimes/ evasion, et al.
Crypto has been used to fund those bad behaviors for a +decade, it so happens that on occasion criminals are using privacy coins rather than Bitcoin or Ethereum. Governments aren’t worried about privacy coins, they’re worried about crime, terrorism, tax evasion, et al
People seem to be off their medication if they think governments care especially about privacy coins vs any other mechanisms being used to facilitate crime.
And don’t get me wrong, governments are bad about respecting citizen’s privacy. The Snowden story and dozens others after it have demonstrated that governments are capable and willing to surveil everyone and everything. My point here is that the scope is vastly greater than just our obscure privacy coin project!
Yes!
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zcash already has transparent viewing addresses… already has viewing keys… these tools were built with the foresight that surface-level compliance is a valuable shield
now the kind of compliance we are asked for is not the kind we expected. its like a traffic stop. simon says put your hands on the wheel! hand over your id! simon says hand over another document instead! recite the national anthem! it is a tactic to frustrate the victim into making a mistake
we could make our stand here, with Monero.
or we could dodge this blow and play for time to finish building FROST
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Couldn’t agree more. We have the tech, they dont care.
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I want to clarify that any reference to privacy coins being the primary driver of terrorist funding or DNM use is misplaced.
The majority of DNMs still primarily use Bitcoin (Monero is popular in certain spheres of DNMs however) and USDT on Tron is the most used currency to fund terrorism.
This idea that privacy coins are the most used thing to fund “illicit activity” is entirely misplaced, and Binance is simply obeying some govt pressure because govt is scared of privacy coins.
Also, on Ethereum, privacy apps don’t fund terrorism. Hacks on DeFi protocols and bridges do. “Ethereum doesn’t have a privacy problem, it has a cybersecurity problem” (h/t @paulbrigner)
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maintaining the purpose of the project by outlining a plan on how to migrate this liquidity in a healthy way, or simply obey the Binance term and lose its meaning as a currency of privacy and freedom, other than that, I think the internal issues that have been going on have to come to a agreement, otherwise all this planning will be in vain
[image]
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we have good people working and testing some ways to made shielded transactions on coldwallet and we can work to conmect desdentralized exchanges migrate de liquidity
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Zcash viewing keys aren’t the technology that solves the problem Binance is facing up against.
Manually conversing with individual Binance users for every single incoming ZEC deposit is not a solution. Its much closer to a nightmare.
Binance needs a programmatic feature that lets them be sure that for all incoming ZEC to their platform, the address sending the ZEC in is: transparent and can be pinged back to with those ZEC circumstantially
Asking Binance to manually juggle the ZEC private address/ tx viewing keys/ return addresses with 250,000 customers is crazy talk.
I’m patiently waiting to here about new updates around this topic. My hunch is that we’re going to be developing Super Transparent address/ tx types soon; it will be Emergency Mode part 2
We’ve already violated the design principles of keeping products simple and intuitive… There isn’t much rational to try and all of a sudden act like one additional complexity would be the straw to break the camels back. Zcash users are not here for simplicity or clean/ intuitive product experiences.
In this context of Binance, we’ve got to assume the worst while building what we perceive is the most future proofed.
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TLDR you want to sell out to binance with super T addys? That’s GG for Zcash if that happens for fake vol/liquidity.
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