Topic: Could Monero replace Bitcoin soon? - page 18. (Read 33721 times)

I agree. The game changer will be something like WAVES or Ardor (NXT2.0) - when these get established everyone will use one of a few anonymous cryptos for various reasons mentioned earlier. Some coins will be used as a store of wealth (POS), some coins will be used for small or regular transactions (fast update and scaling blocks) and some, for moving all this around will be anonymous. It's likely Monero will be one of these.

Small portion of market will be now... but once everyone and their mother knows EVERY FKN Transaction is saved for all eternety things will shift... i don´t see people stating their bank account in the public too...

It's not a few lines of stack commands--the market has too many variables for an orderly progression of events.

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

This is not entirely true. Monero also has an adaptive blocksize limit that avoids the 1 MB blocksize limit in Bitcoin. The 1 MB blocksize limit in Bitcoin has led to stagnation in Bitcoin for well over 2 1/2 years.

One the anonymity / privacy / fungibility side the key may turn out to be fungibility. The test will come one is told that one's Bitcoins are no good because some proprietary algorithm alleges that those particular Bitcoins were used in an illegal transaction 10 transactions ago.

This is (unfortunately) what most people think, and for the moment, traceable coins seem to work as if they were still relatively private and fungible, although they aren't.   Many people think that anonymous coins are only to buy drugs, weapons and evade taxes.  Although that is of course part of it, the real deal is that with traceable coins, your bank account is on a web site visible to anyone who bothers to do some simple research.

Imagine, if bitcoin becomes generalized, that you get paid in bitcoin, and that your colleagues can see what you do with your paycheck (as they get paid by the same employer, it is not difficult to find out your paycheck from that same employer, right...).  Then people will want privacy.

For the moment, bitcoin is essentially a trader's toy where nobody cares much about who owns what, except in the case of theft.  Probably black markets are leaving bitcoin because they start to get aware that they leave traces for ever (if not, they will soon find out).  But when people will want to use bitcoin every day, they will start to realize its huge lack of privacy when uncomfortable analysis will be done on it.

Once coins will become coloured, and you get regularly to explain at the police station where you got your money from because it is traced back to a drugs dealer caught 5 years ago, and you got some of it through a mixer when you sold some stuff on a flea market, you'll start to get the picture.  When each time you try to buy something with bitcoin in a supermarket, you are taken apart to explain a few things on how you got certain coins, will start quickly to become nerve-wrecking.

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

It will never come close to replacing btc as it cannot support economic/commercial financial models or mainstream adoption.

Monero is not so well know coin but this is one of the oldest coin.. and there is still have a potencial to grow.. many people are still adopting monero.
But it can not possible that monero can replace bitcoin..

  --Thanks! Haven't heard that argument Ripple through the privacy community for awhile.

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

I think it is essential.  It is my main issue with bitcoin.  All the rest is technical, but automatic anonymity (and derived fungible money) is essential, and totally absent of bitcoin.

Satoshi *thought* that pseudonymity was sufficient, but he forgot that network analysis and all the links made by transactions make it a traceable item.  Satoshi was also missing an essential cryptographic technique (ring signatures).

I consider bitcoin dangerous for that reason.  40 years after you made a payment, it is still open in the block chain.  You don't know what happens to society in 40 years.  Imagine the Nazis analysing block chain to trace Jews and their friends.

Unfortunately, I'm part of the small crowd of geeks that thinks that way / sees this issue.  Most people don't care. 

Like a dynamic blocksize?

I think Monero would have to offer something else besides anonymity.

This has nothing to do with shitcoins like doge, litecoin or even other good coins like ETH, why even try to compare? You fail, stop spamming.

even dogecoin, litecoin and ethereum will never afford to replace bitcoin
and possibility for monero to dissapeared higher than replaced bitcoin

Thank you for the clarification, appreciated. Love this coin!

It's 18.4 million coins that has a tail emission of 0.3 coins per minute/block(?) at the very end forever.

https://monero.stackexchange.com/questions/9/how-many-monero-will-be-mined-in-total/14#14

Re: perfect initial distribution of coins

Monero wasn't much different, TBH. I believe the number is still 21million in the end for both coins.

Pretty sure I agree 100% with this guy here:


Thanks, very well said.

I couldn't agree more with you. Bitcoin is unique and it will be very hard for another alt coin to ever replace it. Also, its creator is a mystery in which I think is another factor which makes Bitcoin a very popular crypto providing true decentralization and the strongest security of any crypto currency network ever available.