Can Monero survive exchange de-listings and low merchant adoption? - page 4.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Bureau on May 09, 2024, 09:14:11 PM

The US government is after everything that is or was created for privacy. Monero being the most used privacy coin is facing the pressure of the government. Cannot say anything about local Monero exchange but delisting on some of the big CEX will hamper it's market and ultimately affect its valuation in long term.

We all knew what was coming. Now everyone has to face the consequences. Monero could survive if the community continues to support it. All trading needs to be done across truly-decentralized protocols and software to help prevent another government crackdown. With platforms such as Bisq, Haveno, and Serai, what could go wrong? The core Monero developer team needs to remain anonymous for all of this to work.

Without CEXs, XMR will have less exposure to the mainstream world. This means lower market prices in the long run. But at least, Monero will do the job it's supposed to. It's a dark future for the whole crypto/Blockchain industry. So we should be prepared for the worst. Sad

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: Abiky on May 09, 2024, 04:14:16 AM

(....)
Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

It seems Monero adaption or any other privacy coins is getting slower, there are some effects, which could be because we already have a lot of altcoins these days and the essence of cryptocurrency is being redundant to use privacy coins or there are some platforms deployed on existing networks that you can already achieve privacy.

Bureau

sr. member

Activity: 490

Merit: 279

The US government is after everything that is or was created for privacy. Monero being the most used privacy coin is facing the pressure of the government. Cannot say anything about local Monero exchange but delisting on some of the big CEX will hamper it's market and ultimately affect its valuation in long term.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: makishart on May 09, 2024, 07:01:31 AM

The privacy coins are gonna lose its users caused by people know that if they are fine even if they are trading by verifying their identity. Almost all of privacy coins have been going to the hell. I remember there were a lot of privacy coins in the previous years. We are only seeing a few that is still exist this time. I remember a coin like veil but almost all of privacy

Of course. With recent government crackdowns, more people will abandon privacy coins. I think Monero will be the only one that will stand the test of time due to its large community following. Not to mention, it's the most actively-developed privacy coin in the industry. I see the recent turn of events as a positive thing for XMR. Developers will now be forced to create truly-decentralized solutions for buying/selling Monero, among other things.

With LocalMonero out of the picture, Bisq remains the only DEX where you can get access to XMR. Haveno and Serai are an option, but they're still under development. The developers of these projects need to remain anonymous to avoid getting targeted by the government. As long as they stay that way, nothing will be able to stop people from getting true financial privacy and freedom. Who knows where Monero will be 5-10 years from now?

The Cryptovator

legendary

Activity: 2408

Merit: 2226

Signature space for rent

I believe Monero will survive very well, even if centralised exchanges delist it. It would reduce trading volume, and prices would drop significantly due to low trading volume, but that doesn't mean they can't survive. Its decentralized cryptocurrency and actually doesn't worth using it through centralized exchanges. It's called a privacy coin, but when you use it on KYC-verified exchanges, it doesn't protect your privacy anymore. So there is no reason why Monero shouldn't survive when exchanges decide to delist. The government won't control decentralised exchange, so it will work there.

JeromeTash

legendary

Activity: 2338

Merit: 1261

Heisenberg

It will surely survive as longs as decentralized exchanges like bisq support it. With the banning and seizing of so many mixers and privacy focused services. Monero is obviously going to be a perfect option for users who want absolute privacy with their transactions

Most importantly, what is the point of using monero if one is going to use a centralized exchange that even asks for KYC verification?

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Quote from: Abiky on May 09, 2024, 04:14:16 AM

If this keeps up, we won't have a way to buy/sell XMR with crypto or Fiat.

At least about crypto-to-crypto exchanges currently there is no problem as there both swap exchanges in locations without legal restrictions for privacy coins (Exch was already mentioned), but also atomic swap based solutions. Atomic swaps at least can't be stopped because they're completely peer-to-peer and trustless, so they don't need even an escrow.

For fiat-to-Monero solutions there could be Haveno soon, however they're taking quite long and I have read somewhere that some are already describing it as "vapourware". Anyway nobody would stop anybody to fork Bisq and offer direct Monero-to-fiat trades.

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Adoption for privacy coins is decreasing each day.

I seriously doubt that. The issue with volume @maskishart posted above exists only because these sites only track the big exchanges. They track neither Exch-style services nor DEXes.

Looking at the long term transaction count chart, it seems that while Monero had some decline in late 2022 to early 2023, it now is growing again. I don't count the big recent spikes which were most likely spam attacks, but the trend is going up slightly but constant since about January 2023 (having almost doubled since then).

Source: Bitinfocharts

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: mk4 on May 09, 2024, 12:39:32 PM

Monero will surely 'survive'(not die) but it will be really illiquid as like 99% of exchanges don't support XMR trading. Is this stuff really anything surprising though?

In the end, XMR will still be useful as hell for specific use-cases, but I'm personally not going to be bullish on it price-wise.

Its value will surely be affected though it's still depend on how XMR team handle the situation.
XMR still serve its purpose and I don't think they will die easily considering their market cap and still many exchanges are accepting it so there's no need to panic for now. Though if the pressure continues and if XMR will be totally delisted on every exchanges, then that could be a big trouble for XMR.

Coyster

legendary

Activity: 2184

Merit: 1302

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

Of course Monero will survive, it has an actual use case, the only problem now is how intense will the government's crackdown on privacy be, most centralized exchanges have already delisted Monero from their platforms and i am pretty sure the crackdown won't stop there.

The next targets could be NON-KYC instant exchanges that allow trading from Monero to other coins, or vise versa. Decentralized exchanges is also another option, and i do hope there would be an increase in adoption of Monero in these exchanges, now that they are almost off centralized platforms.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: bluebit25 on May 09, 2024, 02:02:25 PM

With me, its doesn't have to face a disaster like Terra, FTX,... and in fact, despite legal regulations on privacy coins, they will still have their own market support in a way that cannot be banned be absolute.

Yup! Losing users because your project is a scam/hoax or was just a victim of such is a thing but being banned by the authorities is another. Many people are still going to use it just a lot more discreet now.

If it is still doing perfectly fine then there’s really no reason for everyone else to stop using it.

bluebit25

sr. member

Activity: 1708

Merit: 295

https://bitlist.co

Quote from: Abiky on May 09, 2024, 04:14:16 AM

(...)Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

With me, its doesn't have to face a disaster like Terra, FTX,... and in fact, despite legal regulations on privacy coins, they will still have their own market support in a way that cannot be banned be absolute.

For now, there's nothing to fear as people can still easily buy it from a number of different services. I think it's just a way that powerful parties want to impose some areas to control the crypto space, but with the development of this field, perhaps the opposition will only make it more noticeable and there will be a solution accompanying the law.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Abiky on May 09, 2024, 04:14:16 AM

This year has been very hard for Monero as more exchanges decided to de-list the coin from their platforms. I've now read an announcement from LocalMonero that they will be shutting down their operations (a pity, because it was a good P2P exchange). If this keeps up, we won't have a way to buy/sell XMR with crypto or Fiat. Adoption for privacy coins is decreasing each day. We can blame government pressure (especially the US government) for this.

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

XMR will continue to exist and with the help of decentralised exchange there might be some volume but it's never going to be same as they supposed to be. We can say we don't need exchanges we can simply move the cryptos back and forth but we can't deny exchange helped with the adoption of crypto currency for sure and without it people may look for alternatives unless they really looking for completely anonymous transactions.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

The chain will survive but the mainstream adoption will be gone, which is already nearly non-existent anyway. Some centralized semi-anonymous exchanges like eXch will offer solutions but for how long? Sooner or later they'll get targeted by the feds also. When they reach above a certain amount of activity, they will be the next target... Then another solution will emerge and they'll take it down too. It will be a hide and seek game like they do with torrent trackers.

The other option is bisq (a real decentralized solution) but bisq consumes too much CPU resources and it gets pretty heavy after using it a while. Maybe bisq will benefit from these take downs.

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

Monero will surely 'survive'(not die) but it will be really illiquid as like 99% of exchanges don't support XMR trading. Is this stuff really anything surprising though?

In the end, XMR will still be useful as hell for specific use-cases, but I'm personally not going to be bullish on it price-wise.

avikz

legendary

Activity: 3080

Merit: 1500

Monero is loved for its privacy. It has a very strong user base and it can be mined using a CPU. So Monero has everything to call it a people's cryptocurrency.

But if the exchanges are de-listing it, then it might become difficult for Monero to survive. Cryptocurrencies can't depend on organic adoption. A way must be provided to convert them in to fiat. If that way is closed then the future of Monero looks very bleak.

Husires

legendary

Activity: 1596

Merit: 1288

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

Yes, Monero is among the few currencies that have proven to provide privacy, so it will have demand, and this demand will lead to the creation of more Monero services, or at least the move to dark web links.
Decentralized services are still a good place to use these services, such as bisq.

AVE5

full member

Activity: 350

Merit: 128

To me the developers the exchange developers are more to be blamed. If research is likely being carried, we could find out that all exchanges are faced with variety of challenges in one way or the other but the developers and the ETFs has been upright to fix their issues.
I'm not an inside so I can't bet to what has been lingering from the south ways of Monero. Yes, there's every possibilities for the project to rise again. There are some coins that goes exiles and rebounces forth again. So if the project could figure its error and have it fixed, of course investors would interest on it would increase in adoption and so much exchange would get them listed as well .

Apocollapse

hero member

Activity: 1148

Merit: 796

Defines survive in your own opinion.

If you mean survive in terms of the coin i.e. miners keep mine new coins, validate transactions, run full node etc, I believe Monero will survive even US ban the coins. Because Monero is also decentralized, so they can't control the hash rate.

If you mean survive in terms of Monero and fiat exchange, this would be hard...

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Do you think Monero will be able to survive this?

I think that it will but its move will be limited because of many exchanges and services getting that are delisting it.

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Does it still have a future?

I think so but when the regulators are done with it then that's the time that it shall be free to move. Otherwise, the regulators are going to pressed on it until many holders, investors and enthusiasts of it gets discouraged.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: Abiky on May 09, 2024, 04:14:16 AM

This year has been very hard for Monero as more exchanges decided to de-list the coin from their platforms. I've now read an announcement from LocalMonero that they will be shutting down their operations (a pity, because it was a good P2P exchange). If this keeps up, we won't have a way to buy/sell XMR with crypto or Fiat. Adoption for privacy coins is decreasing each day. We can blame government pressure (especially the US government) for this.

The privacy coins are gonna lose its users caused by people know that if they are fine even if they are trading by verifying their identity. Almost all of privacy coins have been going to the hell. I remember there were a lot of privacy coins in the previous years. We are only seeing a few that is still exist this time. I remember a coin like veil but almost all of privacy

Quote from: Abiky on May 09, 2024, 04:14:16 AM

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

The dialy trade volume has been decreasing so hard. It's possible if it will keep decline till it will leave from the two digits. One digit probably come soon. I have been avoiding to use any privacy coin caused by it has no future. If all of exchange sites were delisting this coin.

How can monero survive if fewer people use it? i meant it's not all of people are feeling convenience with P2p trading, right?

People will be also feeling so damn hard in selling their monero for cash.

Topic: Can Monero survive exchange de-listings and low merchant adoption? - page 4. (Read 842 times)