Why do privacy coins do so poorly? - page 2.

Tipstar

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Quote from: ulhaq on August 03, 2019, 04:31:21 PM

Even the best known one, Monero, has <1% of the market cap of bitcoin, it's really shameful. Is the reason these coins do so poorly because they are badly designed (which could be everything from the issuance to the mining to the cryptographic protocol to the governance), or is it because no one cares about privacy? Or is it because privacy is difficult to achieve today because of lack of DEX?

Firstly, not every people need to use a privacy based coins. And secondly the competition between these so called privacy based coin is immense. The coins with a coin holding teams are doing their best to advertise their coin as the best privacy coins but in real the use of such coins are limited.
I've heard monero is the coin of choice for dark web but other coins are still to get their markets.

OdelettePaiement

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I agree with the fuer44 member. In this crypto market everyone just wants something transparent, which far exceeds the desire for confidentiality. And this choice of people happens at least today and I think it will remain so for many more years from now on.

Bitbtc8

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Monero might have low marketcap but dont forget that many people still like privacy coins better than other coins in crypto space,government dont like privacy coins because of their anonymous features they like transparency coins only but this doesnt mean that privacy coins have no future,id rather hold monero than so other top 20 altcoins

mr_random

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Quote from: ulhaq on August 03, 2019, 04:31:21 PM

Even the best known one, Monero, has <1% of the market cap of bitcoin, it's really shameful. Is the reason these coins do so poorly because they are badly designed (which could be everything from the issuance to the mining to the cryptographic protocol to the governance), or is it because no one cares about privacy? Or is it because privacy is difficult to achieve today because of lack of DEX?

Privacy coins are not collecting enough investment because of the lack of understanding by mass. The mass adoption will bring the new investors who will invest in the privacy coins IMHO. The transparency is barely anonymous in the Bitcoin blockchain but it can't be perfect as Monero. Privacy-focused coins will be the future of anonymous online payments and I will hold these coins till that day: Monero,Zcash,Pivx,Tele

Pet240

jr. member

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A lot of things need to be reviewed about privacy coin. Although, I am not saying that they are outrightly bad, but that it does not still arouse people's interests.
Then another thing is, what else do they have to offer aside being privacy coins.

farosa

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Quote from: ulhaq on August 03, 2019, 04:31:21 PM

Even the best known one, Monero, has <1% of the market cap of bitcoin, it's really shameful. Is the reason these coins do so poorly because they are badly designed (which could be everything from the issuance to the mining to the cryptographic protocol to the governance), or is it because no one cares about privacy?

Most of us do not take time to think about others except making a profit (maybe we do not want). Frankly, I do not think we care about privacy.

Quote from: ulhaq on August 03, 2019, 04:31:21 PM

Or is it because privacy is difficult to achieve today because of lack of DEX?

If it is not possible to use BTC itself as today's money, we can not preserve privacy, even with DEX.

dataispower

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I don't think privacy coins are not doing well as mentioned here. Generally altcoins are on the downtrend ever since BTC dominance overruled. Well, in terms of price, some holders of privacy coins get scared due to delisting most of the time by centralized exchanges when the authorities give them the ultimatum. Techwise, some new privacy coins even have duo consensus algorithm, making use of both POW and POS, and also always on technology. Aside privacy, some now use zerocoin protocol to reduce fees. So I don't think privacy coins will be extinct, they are very valid in this space.

sufferer123

member

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Do not look at this only in terms of privacy coins. In general, as the chain usage of Coins increases, people will understand how important privacy providers are. Unfortunately, at least half of the people who buy coins in this market do not have one coin wallet, they only know the exchanges. I think that the majority of the remaining 50% just opened the wallet because of the Bounty. Over time, people will really start using this technology. At present, 80% are only buying coins for profit, not for use. I think that the coins that provide privacy in those days will have a big share of the cake.

kumiskura

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Because the government can not control and track them fully. Lately, the government tried their best to educate and regulate every possible thing related to cryptocurrency to control the flow and to prevent unnecessary problem happening in their country. If we are allowed to use this kind of project, they are afraid. They are not able to do something or prevent us from doing something that might harm the country itself.

ulhaq

sr. member

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Even the best known one, Monero, has <1% of the market cap of bitcoin, it's really shameful. Is the reason these coins do so poorly because they are badly designed (which could be everything from the issuance to the mining to the cryptographic protocol to the governance), or is it because no one cares about privacy? Or is it because privacy is difficult to achieve today because of lack of DEX?

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