Topic: Can Monero survive exchange de-listings and low merchant adoption? - page 3. (Read 842 times)

I don't know, even to find Monero (XMR) on coinmarketcap, I can't just scroll, but have to type in the search field so I can find it more easily and quickly. even though in the past XMR was in the top tier of CPINs which was quite promising. But as time goes by, privacy coins are no longer that interesting and may even start to be abandoned.

So it will be quite difficult for them to develop. If you survive, maybe you can still survive, but you still won't be as good as your previous position. I don't even know if this will last any longer or not. because day by day, Monero's position is no better. and they also failed quite badly to reach ATH. Actually, it's not just Monero but there are several other top coins that used to be a dream and now they really can't do anything anymore because they have been eroded by the presence of new altcoins that are more potent and profitable.

It was actually at 0.03x in 2018, and still 0.009 in early 2023. But there may be other reasons for the bearish macro view: in the past, Monero almost always performed bad in the early stages of Bitcoin bull markets, like other altcoins did too. And old altcoins often see challenges to stay relevant, many first-time alts like NMC, PPC, FTC or YAC actually did much worse than XMR. In my opinion this may also be a main reason for the decline in BTC from 0.009 to 0.003x, i.e. previous to the Binance delisting.

Of course the Bittrex delisting may have contributed, but Bittrex is a relatively minor exchange. The Bittrex delisting was in January 2021. The price had already lowered in late 2020 (probably due to the early Bitcoin bull market effect, like I wrote before), and took a further hit, but then it recovered and reached 0.007 again in May 2021.

I believe the recovery will continue but slowly, becuause the "big pumps" (which originate usually on big exchanges like Binance) will be missing. There will be perhaps some more delistings in the future. But as the delisting in several european countries by Kraken had actually no effect at all I also don't see that future delistings should hit the price again like the Binance delisting did. XMR community is already very focused on decentralized exchanges, combined with services in crypto-friendly jurisdictions.

I also think that there will be a slow trickle-in effect into Monero: New crypto users start usually speculating with Bitcoin or memecoins at big traditional exchanges. Then they slowly discover the "not your keys, not your coins" principle and often fall further down the privacy/decentralization rabbit hole, until they discover decentralized privacy coins like Monero. Of course that's not true for all crypto users, but even if only 1% does this, this should make the potential public for Monero much, much bigger.

In several countries there are big, strong cash-supporting groups who are deeply sceptic about KYC-based electronic payments, and these are also a potential target public for XMR. XMR is still the biggest privacy coin, and other privacy coins like Dash, ARRR or Grin weren't able to challenge it, so it's the first choice those people will stumble upon.

Of course it will continue to function. Only if nodes and miners are still supporting the network. The only thing is that market prices would be so low due to decreased demand/mainstream adoption. You'd only use Monero as a currency than a long-term investment. With how things have been going on for XMR, I think it will end up being traded solely on DEXs and P2P trading platforms. CEXs would be out of the picture. This is good because it will make Monero more decentralized. Perhaps even more decentralized than Bitcoin itself.

Hopefully, the Monero project gets enough funding to sustain itself for generations. As long as it remains actively-developed and maintained by the community, there should be nothing to worry about.

this does not rule out the possibility that monero will be delisted on many exchanges if its users decrease in the future.  this in itself is due to the impact of monero's features being irrelevant for most users today, since what they offer is privacy coins and most users trade them on exchanges that use kyc, so it is no longer relevant to them.  and also sooner or later monero will also be targeted by the government, it makes people increasingly see that monero is no longer attractive for them to invest in.

This monero was already here when I started; it was one of the pioneers in this industry, and it cannot be denied that the community it has established in this field is also large. I even experienced being able to mine it in Minergate.

After a few years, I don't seem to have heard much development in Monero; all I know is that I heard that the US government is harassing it. As far as I know, I hope Monero can survive for a long time.

I think people who are absolutely desperate for anonymity will continue to use it. It just depends if because of low user numbers due to regulatory pressures, will it eventually become worthless? I don’t know the answer to that, the market will decide though.

Delisting is affecting XMR in terms of price for sure. Before it got delisted from bittrex, XMR's price in BTC was around 0.007 too. Main thing is it hadn't collapsed completely like other alts after such incidents showing there are strong community behind it supporting privacy. Now the question is, Is it enough for XMR to come back again strongly?

I don’t think it will ever reach that $500 high it did in 2017. And like you said, all these exchanges are affecting its performance because it’s one of the only coins which has done poorly while BTC reached new highs.

With all the regulations going on, I am not surprised. The more exchanges that delist then it doesn’t look good for it’s future. On the charts it looks like it might retest the $100 area and hopefully it holds when it reaches that area.

Well, in the last month XMR made actually a quite good ROI, in a period where most coins were stagnant (like BTC) or even lost (like ETH). The orange line is the price in BTC which shows the "relative price" in comparison to the whole crypto market:


Source: Coingecko

I don't see it going down further, at least not with the excuse of exchanges delisting. I believe this was already priced in when Binance delisted it and the price fell close to $100 for a short time.

Before the Binance delisting, XMR's price in BTC was BTC0.0037 approximately. The lowest price in March was BTC0.0017. Now it's at BTC0.0021, despite several waves of bad news. I don't know if XMR will see 0.0037 again, but a price close to 0.003 seems possible, and that would mean the former price level in USD (160-170$).

And I agree with Hispo, XMR community is very strong. It could even be worth to observe its evolution for Bitcoiners afraid of further attacks against privacy, to know how a coin can be made resilient against these attacks. That doesn't mean that Bitcoin needs to incorporate things like ring signatures, which would be very difficult (and need a hard fork probably). What I mean is learn from XMR's decentralized service ecosystem.

Monero will obviously continue to function, as it's Blockchain is decentralized by design, people will continue to mine and transactions will continue to flow, but with a very low volume than before.
The price will be negatively impacted, I think as it becomes a less liquid asset, though there could be some solution in the horizon if some developers started to work on an application for people to exchange in a P2P manner and make that application free software, there have had some of those for Bitcoin and their popularity has varied, though, it could become a central way for people interested in buying Monero to reach their goal into privacy. However, I am not sure how one could solve the problem of less businesses and people accepting it in exchange for their goods and services on the internet, the stigma which is being purposefully created against Monero will make merchants not to have anything to do with this project.
The community of Monero is passionate enough for them to think and come up with a solution to this lack of liquidity, this as expected to happen on exchanges, so let us see what the response is going to be.

Even for Bitcoin, which is the most popular cryptocurrency, it can be hard for some people to acquire, especially if you’re not willing to do KYC or you live in a country with strict regulation, and adoption is still not that significant. I think Monero will be fine, just like Bitcoin has been fine through periods of adversity, you just might have to deal with some inconvenience and will have to live with bearish market performance.

It's sad to see Monero being forced to die. Many of the popular exchanges have delisted Monero, that is the reason why there's a sharp decrease in trading volume. Although Monero is more popular being traded in shady and underground exchanges, yet they don't have large volume and whatever volume it may be, it is not counted by aggregators like Coinmarketcap. Monero is currently 45th by marketcap and as they fade from sight, people would start forgetting it. It might survive on the dark web but won't increase much in value as the demand would be low.

While we've already seen that delisting from big exchanges does affect Monero's price, I still hope you're wrong. Monero does deserve more attention. The rather silent war against it proves this point big time. Monero is even more pro-liberties than Bitcoin. But yeah, sadly going for beliefs rather than profits is a small niche.

In my opinion, even though the price of Monero has fallen too deeply and is currently rarely talked about, I am sure that Monero will rise again and will definitely remain in the crypto market and will rise again to the top 10 CMC, even though this is very difficult. , but considering that monero has a fairly large community and popularity, I am very optimistic that in the future monero will get better,

I'm afraid so. Without places to buy/sell Monero, who would want to use it? Only a small portion (mainly libertarians, cypherpunks, tech enthusiasts) will support XMR. The rest will carry on as usual with top-tier coins. Expect the battle between privacy coins and mainstream governments to last for a long time.

I can't imagine how low XMR's market price will be in the future. Especially without exposure from VCs, institutional investors, and retail investors alike. Definitely not worth it as a long-term investment. If you're planning to use Monero as a currency, this shouldn't be a problem. Hopefully, developers stay anonymous to help protect XMR against government interference. Maybe Monero will live alongside Bitcoin for generations?

That is very bad for them to shutdown their operation. Though I have not used their services before but i have heard it time without number and according friends that were using the service, it was nice as they said. But the way Monero has come so far I don't think it will just stop like that because of government pressure and they can only stop  if the participants or the population is not much again. Even though exchanges are delisting it, the p2p can function well and I think Monero is a decentralized cryptocurrency so the p2p should work.

If Monero has finally shutdown then bitcoin is also in trouble because the government pressure on bitcoin is also high and we can see that from all the countries. My country has delisted p2p transaction of cryptocurrency from many exchanges. But we are planning to use the real p2p so Monero will survive and when it over this trying period, then it comes stronger.

There will be a group that will still use XMR for sure and they will be the hardcore privacy and anonymity advocates. I agree with others that mainstream adoption is over for this coin.

This one. But I guess it will be about hopping from Monero to other chains first using real DEX or P2P before sending them to CEX for fiat conversion.

Regulation continues to influence the acceleration of privacy coin adoption – most recently Monero came into the spotlight due to the closure of LocalMonero due to government oversight. It is clear that the government does not want many people to use privacy for their financial transaction - they even blame extremist and illegal transaction as reason to prevent the development of privacy coin.

In my opinion - Monero will survive regardless of how adopters use it. The impact of this delisting is a decrease in trading volumes and also prices - but I don't believe Monero will collapse just because of the government. Guns should not be blamed for murder cases - nor should Monero be misused by certain vested interests.

It's going to be tough for them.  If you can't exchange for it a lot of people will just stay away.  Put that with the fact people only are really buying the hot new thing I can't see monero staying around forever. Slowly the old momero crowd won't have any new blood and will soon wither away like a ton of other old school coins.

Not that it relied on exchanges or anything else, it is a privacy currency and having monero on your exchange account that you give your KYC to makes no privacy sense at all. This is why I think it shouldn't really be considered a terrible thing for them, it should feel like what should have happened to begin with. This is why I believe that there aren't all that many different approaches into this and we could probably consider how that could stay the same.

Monero is something that a few people who have a certain request uses, and if you are not a person who requests the same thing (which majority of the market doesn't) then you will not care and if you are one of the few who does request it then you are going to be fine with not sharing your KYC when trading monero anyway.