what are factors behind the success of Monero - page 2.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

I do not consider it a "Success" at all.. on the contrary it is a failure and destined to accomplish nothing.
What do you see now ? What will you see in a year or two or ten ? You are lookin' at it. Cheesy

..or worse

It's perceived market cap price popularity is simply greedy trading bullshit.
Price is derived directly from convincing enough of the users here that the ANON Gimmick is going to get MORE popular with coin buyers later down the road.

That's about it.

Profiteer Koolaid drinkers are hoodwinked by the anon gimick.

Why do you all equate price with success ? Roll Eyes

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Quote from: FLoving on January 27, 2017, 05:48:21 PM

But I want to know that is there any company or business which have adopted it for their business? Or there any service started with that currency or it is just used for trade and storing our money? I actually want to know about the secrete of its demand.

Well, consider that one darknet market, AlphaBay, allows sellers to accept payment in Bitcoin or Monero. Wired recently ran an article on Monero and their sources said about 2% of transactions on AlphaBay were paid in Monero. Now that may not seem significant but consider if sellers stopped taking bitcoin and only sold for Monero? Price would go through the roof as buyers had to change Bitcoin for Monero. Companies who specialize in tracing bitcoin transactions may soon make mixers ineffective. If that happens Monero or another coin with high anonymity will take the place of Bitcoin on the darknet markets. And Monero has a head start. The price of Monero increased so much during 2016 that advisors are recommending it along with Bitcoin now.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Another factor that is orthogonal to fungibility, privacy and anonymity is that Monero has an adaptive blocksize limit that avoids the problems with a fixed 1 MB blocksize limit in Bitcoin. This adaptive blocksize limit actually works because Monero has a minimum block reward (tail emission) of 0.6 XMR per block.

FLoving

hero member

Activity: 1022

Merit: 521

But I want to know that is there any company or business which have adopted it for their business? Or there any service started with that currency or it is just used for trade and storing our money? I actually want to know about the secrete of its demand.

Devnant

member

Activity: 118

Merit: 10

Quote from: ?? on ??

Because Monero is currently one of the most, or probably the most promising private cryptocurrency.

Some factors people look for in a private cryptocurrency:

Functioning as Designed
Open-source & Secure
Decentralize & Trustless
Private by Default

There is a large community behind Monero, this can be interpreted as significant number of people also seeing Monero as a promising cryptocurrency.

But like any other cryptocurrency, Monero isn't perfect, and may be replaced one day. As a non-technical person who cannot improve or create a better cryptocurrency/solution, I am constantly updating my knowledge of all those private cryptocurrency projects out there.

And the best I can do for Monero is to run monerod when my computer is turned on.

This in a nutshell. I also think all governments in the world have all their eyes on Bitcoin, which puts a lot of pressure on the core devs to not implement the top of the cream anonimity features that Monero already has.

Kray

hero member

Activity: 658

Merit: 500

Quote from: ?? on ??

Because Monero is currently one of the most, or probably the most promising private cryptocurrency.

Some factors people look for in a private cryptocurrency:

Functioning as Designed
Open-source & Secure
Decentralize & Trustless
Private by Default

There is a large community behind Monero, this can be interpreted as significant number of people also seeing Monero as a promising cryptocurrency.

But like any other cryptocurrency, Monero isn't perfect, and may be replaced one day. As a non-technical person who cannot improve or create a better cryptocurrency/solution, I am constantly updating my knowledge of all those private cryptocurrency projects out there.

And the best I can do for Monero is to run monerod when my computer is turned on.

I think all coin have that factor.

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: FLoving on January 21, 2017, 05:11:56 AM

I am seeing that the marketplace of Monero is much higher and in the list of top 10 cryptocoins. Can I know what are the factors which are making its demand higher and what are the factors which is making it competitive with bitcoin, litecoin and etherum?

Monero volume is not high $175 milions in last month. Monero had high volume in September when was 10 times higher.

MadGamer

legendary

Activity: 1568

Merit: 1031

Quote from: bitwolf on January 21, 2017, 05:39:30 AM

Yeah, implement simply everything you think of. Make the btc blockchain 187253423 TBs. This won't kill the grandpa at all....

Having an update or fork on bitcoin doesn't necessarily means that bitcoin blockchain should grow , If it does grow then I also see no problem , the number of nodes is almost the same for years now while the blockchain size continue to grow , besides almost everyone uses SPV wallets these days .

Loepuenkyou

hero member

Activity: 588

Merit: 500

dev team is good
and monero user community is big, you can sea in monero announcement thread is big comment in there
factor succes altcoin user community, if user community is big can succes can big volume transaction

bitwolf

full member

Activity: 186

Merit: 100

Quote from: Biitcoin on January 21, 2017, 05:18:43 AM

I'm having my doubts , Monero is mostly used for being anonymous and Its pretty much different from both bitcoin and Ethereum. I can't tell why Litecoin is successful though as It's just another clone from bitcoin.
I however wouldn't be too optimistic , It's just a matter of time until bitcoin implement TumbleBit or another anonymity protocol and that could result to DASH ,Zcash , Monero death .

Yeah, implement simply everything you think of. Make the btc blockchain 187253423 TBs. This won't kill the grandpa at all....

Biitcoin

sr. member

Activity: 353

Merit: 250

Zichain

I'm having my doubts , Monero is mostly used for being anonymous and Its pretty much different from both bitcoin and Ethereum. I can't tell why Litecoin is successful though as It's just another clone from bitcoin.
I however wouldn't be too optimistic , It's just a matter of time until bitcoin implement TumbleBit or another anonymity protocol and that could result to DASH ,Zcash , Monero death .

FLoving

hero member

Activity: 1022

Merit: 521

I am seeing that the marketcap of Monero is much higher and in the list of top 10 cryptocoins. Can I know what are the factors which are making its demand higher and what are the factors which is making it competitive with bitcoin, litecoin and etherum?

Topic: what are factors behind the success of Monero - page 2. (Read 2021 times)