Why is Monero so unpopular? | Bitcointalksearch.org

Abiky

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Quote from: noqqx265 on March 28, 2024, 10:02:16 PM

Privacy coins like Monero are easy to be used for money laundering, and there are indeed regulatory risks, which may have performed well in the previous bull runs, but for the current cryptocurrency market, compliance comes first.

With constant exchange de-listings and volatile market prices, I doubt criminals would want to use XMR for money laundering and tax evasion. They're better off with traditional Fiat. If there's something we could blame for Monero's unpopularity, that would be the government. It has spread false propaganda, making people believe Monero is only the "criminal's coin". They're afraid of getting into it because governments will eventually tag them as a criminal. Or it would render suspicions when using it for day-to-day payments.

Now I've read there will be KYC-compliant privacy protocols and DEXs. That would totally defeat the purpose of privacy/anonymity. Wasn't it always about protecting ourselves against government surveillance? Businesses won't have any issues with KYC-compliant privacy, other than individuals themselves. At least, those who actually care about their privacy. ETH privacy protocol dubbed "Privacy Pools" is one of those KYC-compliant privacy solutions. The question is: Will Monero be able to withstand strong regulatory pressure? Or will it eventually "please" the regulators? It's an uncertain world we've living into, so expect the worst. Grin

noqqx265

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Privacy coins like Monero are easy to be used for money laundering, and there are indeed regulatory risks, which may have performed well in the previous bull runs, but for the current cryptocurrency market, compliance comes first.

Sophokles

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Quote from: devil-soul on March 24, 2024, 04:54:35 PM

Monero is an excellent altcoin that prefers privacy but is not well regarded because it is mistakenly thought that it is associated with illegal activities such as trading currency on the dark web, instead it is used by all those for whom privacy has a high value and they consider it a fundamental principle

That is not a mistake about monero. Hackers use it to collect ransome from their victime because of its privacy. Monero has a large community and there are a lot of users that using monero. The only reason i am seeing monero is not used by whales is due to its regulatory uncertainty. We don't know yet how the government is going to regulate monero and there are even rumors that they are going to ban it.

jwinterm

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This should be coming to mainnet within the next few months I believe:
https://serai.exchange/

Quote

Serai is a new DEX, built from the ground up, initially planning on listing Bitcoin, Ethereum, DAI, and Monero, offering a liquidity-pool-based trading experience. Funds are stored in an economically secured threshold-multisig wallet.

Also, haveno is supposed to finally go live in a week or so I think:
https://haveno.exchange/

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Haveno will be a non-custodial, decentralized exchange for crypto and fiat currencies built on Tor and Monero.

It's a fork of bisq that uses XMR as the base pair.

Abiky

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Quote from: Miles2006 on March 23, 2024, 03:21:40 PM

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

Of course. Investors wouldn't want to buy something that isn't regulatory-compliant. They want something that's seen with good eyes by the government to ensure their investment lasts a long time. I'd say governments have successfully destroyed privacy coins' reputation by labeling them as tools used for criminal activities (money laundering, tax evasion, terrorist financing). The public is now skeptical of getting into something that's used by wrongdoers. We all know that's not really the case, especially when Fiat is still the #1 tool for criminals (due to its ease of use and greater accessibility). But the harm is already done, with Monero and similar coins losing popularity each day.

It's likely all CEXs will cease trading of privacy coins (XMR included) in the future. Fortunately, people can use alternative methods to continue buying/selling privacy coins. You can thank their decentralized and censorship-resistant design for that. Considering that Monero is the biggest and most successful privacy coin in the world, I'm certain it will survive for generations. No matter the price of XMR, we should be thankful for having a means to achieve privacy and financial freedom. Who needs "Wall Street", anyways? Cheesy

devil-soul

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Monero is an excellent altcoin that prefers privacy but is not well regarded because it is mistakenly thought that it is associated with illegal activities such as trading currency on the dark web, instead it is used by all those for whom privacy has a high value and they consider it a fundamental principle

Troytech

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Quote from: j1792 on August 20, 2023, 04:02:36 AM

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

I dont think monero is so unpopular than it shoukd be, monero is still very early as an altcoin and it offers a superb privacy that even bitcoin couldn't give, monero would olny be of interest to those that needs its service in a way or two and that should be amongst people that already know about crypto in a way or two, so expecting to hear about monero from new users or peole ealry in crypto or on major crypto news would not be a realistic thing, and besides most new investors come in because of wanging to make profits and right now monero is not that coin and shouldn't be cause if it enters the spot light and government gains attention to it, could lead to its downfall like the silk road market place that offers quite the anonymity like monero.

Quote from: Miles2006 on March 23, 2024, 03:21:40 PM

Quote from: j1792 on August 20, 2023, 04:02:36 AM

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

You have well explained it even better than i did, its not as tho monero is unpopular but not every one is interested in privacy and even if in the crypto world privacy seems to be one of the things that they ought to achieve people are not just interested in that right now, at least not those that are more interested in gain than any other thing, so yeah a lot of people mightvknow and use monero but they use it for the purpose that it was created privacy.

Miles2006

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Quote from: j1792 on August 20, 2023, 04:02:36 AM

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

jwinterm

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Quote from: Tomcolor on March 23, 2024, 02:38:54 PM

I think this is the weakness of the community because a project only reaches everyone when investors are called with their different rationales. As at this moment if they conduct an airdrop many people will know about it. But you should know that the investment of this token is very spread but it is stable level only till the period of hype. Now there are some good tokens that have secrets because of which many investors don't see it but when someone directly researches to buy good tokens they will buy these tokens.

This is some awful chatgpt bullshit and this user should be banned lol

Tomcolor

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I think this is the weakness of the community because a project only reaches everyone when investors are called with their different rationales. As at this moment if they conduct an airdrop many people will know about it. But you should know that the investment of this token is very spread but it is stable level only till the period of hype. Now there are some good tokens that have secrets because of which many investors don't see it but when someone directly researches to buy good tokens they will buy these tokens.

Bushdark

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Quote from: nullama on February 20, 2024, 04:51:28 AM

Quote from: j1792 on August 20, 2023, 04:02:36 AM

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

One of the things that I've noticed about Monero is that it has been removed from a lot of big exchanges.

My guess is that some people want to have certainty that they will be able to go to any mainstream exchange in the future and exchange their crypto for other type of money.

Having Monero out of the big exchanges will probably not incentivize some of the big players, therefore reducing the potential price.

One of the Marin why exchanges keep removing cryptocurrency projects from there platforms is because of liquidity.
There are project that. An cause exchanges to lose money if they eventually crash out due to low liquidity or no liquidity at all.
Liquidity is what keep projects going making it to be volatile and having the ability to make investors make or lose money at the same time. Any project that has been noticed that it has not even been doing well could easily be removed.

Abiky

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Quote from: jwinterm on February 23, 2024, 03:42:43 PM

ur regarded, or some chatgpt spam, or both

Monero is the main coin for darknet markets now. It is also the main coin for many people who care about privacy. Sure, there are VC funded ETH-killers ahead of XMR, but the only proof of work coins at this point are LTC, DOGE, BCH, and maybe KASPA (which is an instamine Bitmain scam pump and dump currently being pumped). Monero hosts multiple conferences per year and has the largest amount of contributors and the largest community outside of BTC and ETH probably.

I think XMR will remain the only privacy coin in the market, as others fade away into oblivion due to fierce regulatory pressure from mainstream governments. Not to mention, PoW coins are on the brink of extinction. Coins like ZEC, DASH, and even GRIN are suffering dearly with an ever-diminishing userbase (community). The exchange de-listings will only make matters worse in the long run.

While XMR is not immune to de-listings, it will survive because of the ever-growing community backing it every step of the way. Development is still on-going despite the series of unfortunate events. We can blame governments for the decreased interest in privacy coins. Who knows what lies ahead in the future? Sad

jwinterm

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Quote from: AnonBitCoiner on February 23, 2024, 12:12:23 PM

No other coin instead of bitcoin can become main coin although they can become beneficial coins if there activity remain same successful as they were from the beginning. Monera cannot be consider as the main coin that most of the exchanges has removed it and also its value is not so good that it can be consider as a main coin.

People thinks about privacy but there are also some other qualities which are consider essential for selection of coin. There are some more profitable altcoins which are more successful and more secure than monero so it is obvious that people will first prefer most successful coin

ur regarded, or some chatgpt spam, or both

Monero is the main coin for darknet markets now. It is also the main coin for many people who care about privacy. Sure, there are VC funded ETH-killers ahead of XMR, but the only proof of work coins at this point are LTC, DOGE, BCH, and maybe KASPA (which is an instamine Bitmain scam pump and dump currently being pumped). Monero hosts multiple conferences per year and has the largest amount of contributors and the largest community outside of BTC and ETH probably.

AnonBitCoiner

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No other coin instead of bitcoin can become main coin although they can become beneficial coins if there activity remain same successful as they were from the beginning. Monera cannot be consider as the main coin that most of the exchanges has removed it and also its value is not so good that it can be consider as a main coin.

People thinks about privacy but there are also some other qualities which are consider essential for selection of coin. There are some more profitable altcoins which are more successful and more secure than monero so it is obvious that people will first prefer most successful coin

Abiky

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Quote from: MercerAlex on February 22, 2024, 07:15:38 AM

Yeah, Monero can be tricky because it prioritizes privacy a lot more than coins like Bitcoin and Ethereum. This makes it harder to use and understand for many people. The fact that you can't easily verify transactions like you can with other cryptocurrencies adds to the complexity. And you're right, its association with the DarkNet and increased privacy does raise concerns about scams and criminal activities. It's definitely not as user-friendly for those new to crypto. But its strong privacy features are also why some people prefer it. It's all about what you value more: transparency or privacy.

The steep learning curve and limited number of exchanges, makes Monero an unappealing investment to crypto newcomers. I guess that's why Monero has been struggling with low mainstream adoption. At least, it's a useful privacy coin for those who want to hide their sensitive financial info from governments and/or third-parties. If Monero stays decentralized, it could last a lifetime.

What crypto project needs the approval of mainstream governments and VCs to survive, anyways? Only those that are full of hype need them. Bitcoin was designed to be free from the middleman. And that's exactly what Monero is doing. By using it, you will gain true financial freedom and privacy. We need more privacy-oriented crypto projects for the good of the industry. Who knows what surprises we'll find in the future?

jwinterm

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It's weird how chatgpt bot account eloncoin shills hate privacy and think that people should be surveilled on by default. Monero has a strong community that is putting on at least two conferences this year:

https://monerokon.org/

https://monerotopia.com/

Contrary to what the comment farming shill bots would have you believe, there's a large contingent of people that actually believe in the ideals laid out here:
https://www.activism.net/cypherpunk/manifesto.html

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We the Cypherpunks are dedicated to building anonymous systems. We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures, and with electronic money.

Cypherpunks write code. We know that someone has to write software to defend privacy, and since we can't get privacy unless we all do, we're going to write it. We publish our code so that our fellow Cypherpunks may practice and play with it. Our code is free for all to use, worldwide. We don't much care if you don't approve of the software we write. We know that software can't be destroyed and that a widely dispersed system can't be shut down.

MercerAlex

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Yeah, Monero can be tricky because it prioritizes privacy a lot more than coins like Bitcoin and Ethereum. This makes it harder to use and understand for many people. The fact that you can't easily verify transactions like you can with other cryptocurrencies adds to the complexity. And you're right, its association with the DarkNet and increased privacy does raise concerns about scams and criminal activities. It's definitely not as user-friendly for those new to crypto. But its strong privacy features are also why some people prefer it. It's all about what you value more: transparency or privacy.

jrrsparkles

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Quote from: Belarge on February 22, 2024, 01:32:33 AM

Quote from: jrrsparkles on February 21, 2024, 07:06:03 PM

Because its completely anonymous and tracing the trails is close to impossible while bitcoin and other cryptos were decentralized but only pseudonymous which is the major difference privacy coins and decentralized coins so government used this fact to dethrone the Monero from the regulated trading platforms which crumbled the community support of Monero and most other privacy coins.

The crypto projects are mainly for the top whales because they're the ones that manipulate, dominate and control the market, these investors are closely on becoming a very tough projects. There's certainly no measures in what they've accomplished in the system. The vast number of these projects always end up failing their investors due to the high volatility in the space. I've closely watch how these projects end up not succeeding, but taking a prospect look from these projects ends, Moreno not popular due to their community, they failed to grow in numbers and the activities remained dormant.

Monero faced issues one after another, in 2020 when their official website was hacked which points raised a question about how good their security measures are which can't even safe guard their official site then how can they trust people with their money and years after the government started restricting the privacy projects and forced exchanges to delist them after bringing heavy AML procedures which all drive monero the most popular of all privacy coins to go downhill but I still consider monero is being used but not for the trading purposes anymore like they used to be.

Belarge

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Quote from: jrrsparkles on February 21, 2024, 07:06:03 PM

Because its completely anonymous and tracing the trails is close to impossible while bitcoin and other cryptos were decentralized but only pseudonymous which is the major difference privacy coins and decentralized coins so government used this fact to dethrone the Monero from the regulated trading platforms which crumbled the community support of Monero and most other privacy coins.

The crypto projects are mainly for the top whales because they're the ones that manipulate, dominate and control the market, these investors are closely on becoming a very tough projects. There's certainly no measures in what they've accomplished in the system. The vast number of these projects always end up failing their investors due to the high volatility in the space. I've closely watch how these projects end up not succeeding, but taking a prospect look from these projects ends, Moreno not popular due to their community, they failed to grow in numbers and the activities remained dormant.

jwinterm

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Quote from: jrrsparkles on February 21, 2024, 07:06:03 PM

Because its completely anonymous and tracing the trails is close to impossible while bitcoin and other cryptos were decentralized but only pseudonymous which is the major difference privacy coins and decentralized coins so government used this fact to dethrone the Monero from the regulated trading platforms which crumbled the community support of Monero and most other privacy coins.

Nothing has crumbled you eloncoin shill lol

Topic: Why is Monero so unpopular? (Read 1624 times)