Why is Monero so unpopular? - page 10.

Yudhisthir

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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?

Monero is hugely popular with illegal traders and criminals. That makes it a target for law enforcing agencies and buying and selling of it is made harder by the agencies and are not listed in most of popular centralized exchange. Even if it's harder to trade, it's still the most used privacy coin. Personally I, and most of other traders and investors don't require monero for their strategy as we have nothing to hide and want to avoid any unnecessary trouble with the agencies. Monero is a good coin for many but it's just a trouble for most.

mindrust

legendary

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It is because monero is completely anti-government. It provides full privacy and the governments don't like it. Since the corps pay taxes to the government like us, it is impossible to establish a business without the consent of the government. Since the govs don't like anonymous coins like monero, exchanges delisted it and now monero is a dead man walking. This is what happens when you go against the government. They don't do the same thing to bitcoin because bitcoin is semi-anonymous and the gov is OK with it. Too bad for monero though. It really deserves to survive.

m2017

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keep walking, Johnnie

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?

Most cryptocurrency users care about profit, not privacy. Few think about it and therefore, coins like monero are not so interesting for investors. Look at xrp, which has a huge amount of investor money poured into it, and ask yourself why this worthless shitcoin is preferred over xmr.

Monero may not be as popular, but it certainly has its own user base. It is likely that over time, when there will be less financial freedom due to CBDC, coins that allow to remain confidential will rise again and become in demand, but for now, their fate is not enviable. In fact, the value of a coin is not a direct indicator of popularity. To understand this, it is necessary to check the number of daily transactions in the xmr network and compare with other altcoins.

mich

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#1 VIP Crypto Casino

Well I think when it was created in 2014 we thought it would be the only real coin for 'privacy'. But now there is so many other alt coins that have more privacy then moreno.
I just think some new ones came along. It is a old coin like Dash and Zcoin that now are not so popular and with less marketcap then they had years back.

vv181

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Regulatory outlook. Many regulatory bodies are aware that a cryptocurrency that is built with privacy technologies enabled by default is not easily trackable. So there are many limitations set in place to prevent further adoption of such cryptocurrency, in this case, Monero.

Besides, a specific purpose is built for different uses. People who love flexibility or more new things favour smart-contract-focused cryptocurrency. One thing is for sure there are people who maintain and protect their own privacy thoughtfully, and that suits them to utilise Monero. Each coin has its own purpose, and each user is free to choose what suits them.

With that in mind, popularity is not a metric that might be worth considering.

Apocollapse

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There are many centralized exchanges delisted Monero and privacy concern topic is a thing that the centralized entity e.g. government don't like it. If there are articles or influencers talk about privacy concern, they could be targeted since they're become the risk of centralized entity in order to control their citizen.

Or maybe there are many people don't care about privacy.

_act_

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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?

Bitcoin is the main coin while other coins are altcoins. People also know monero too. Monero is the 28th on the list if marketcap is used for comparison. It is having a marketcap of over $2.6 billion. Which means it is a good coin.

But if you expectations about the coins is not up to what the marketcap is, it is good to know that most people that are into crypto do not care about privacy, they care about investing and making profit from the coin they invested in.

j1792

newbie

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

Topic: Why is Monero so unpopular? - page 10. (Read 1625 times)