Topic: Why is Monero so unpopular? - page 2. (Read 1700 times)
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.
Investors feel that there are better coins than Monero that don't generate any hype and hold a good position in the market so they leave Monero out of their favor. Bitcoin is the main currency of everyone's first choice in crypto and not everyone chooses BNB and
Eth among the altcoins. The quality of these projects is very good and gives high returns.
Eth among the altcoins. The quality of these projects is very good and gives high returns.
BNB is a scam and CZ is going to prison. Fuck your investment.
Maybe it's just a matter of time until Binance finally collapses. and that will impact BNB. now we can see how easy it is for Binance to announce coins that will be listed on the exchange. unlike before when the coin was listed on binance, it is very influential.
regarding monero, they are not unpopular. not many media focus on them. looking at Monero's capitalization in the market and also the trading volume in the market, it's not bad.
Investors feel that there are better coins than Monero that don't generate any hype and hold a good position in the market so they leave Monero out of their favor. Bitcoin is the main currency of everyone's first choice in crypto and not everyone chooses BNB and
Eth among the altcoins. The quality of these projects is very good and gives high returns.
Eth among the altcoins. The quality of these projects is very good and gives high returns.
BNB is a scam and CZ is going to prison. Fuck your investment.
Investors feel that there are better coins than Monero that don't generate any hype and hold a good position in the market so they leave Monero out of their favor. Bitcoin is the main currency of everyone's first choice in crypto and not everyone chooses BNB and
Eth among the altcoins. The quality of these projects is very good and gives high returns.
Eth among the altcoins. The quality of these projects is very good and gives high returns.
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.
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.
Without the support from big exchanges, XMR won't be "pumping" anytime soon. On the bright side, this will force the project to focus more on utility than hype. Why do you think "shitcoins" like Solana and BONK are "pumping" like crazy? It's all because of the hype.
For true believers of crypto/Blockchain tech (and freedom + privacy), Monero is the best choice. I think it's even better than Bitcoin. If all CEXs decide to de-list XMR, people can still trade it across DEXs and P2P exchanges. No one will be able to stop XMR as long as it remains decentralized and censorship-resistant. Hopefully, it will outlast many of the overhyped coins in the future.
Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?
Unfortunately its strengths have led to its downfall in the hopes of becoming a main coin.
It is to exceptional that it does its job too well. Some people might grow confused. If it is that good then why is it not as popular as other main coins? Cryptocurrency in general already is seen in a bad light by some governments and other people who might not be as knowledgeable regarding crypto. They have misconceptions such as cryptocurrency is a scam or that it is mainly used by criminals.
Which leads us to privacy coins. Some cryptocurrencies are decentralized in nature hence there is already some sense of security regarding our identity but privacy coins are unique in a way that they were made solely to protect the identity of its users. It has enhanced other features other cryptocurrencies may have making it popular among those who value their anonymity so much.
A lot of governments see this as alarming as these privacy coins can be used for criminal activities. This is why its exposure is only limited.
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.
Regulatory pressures on exchanges have destroyed any hopes of XMR ever being any more than a P2P privacy coin. It’s sad but I understand why governments hate it. Nothing is stopping us from using it, it is great at what it was designed for but its strengths are in fact what has destroyed any chances of it ever going mainstream.
Exactly. Which tells us XMR is more suitable as a currency (digital cash) than a long-term investment (store of value). Only true believers of privacy and freedom will use Monero regardless of ever-growing government opposition. I wouldn't be surprised if mainstream governments go as far as "banning" XMR from public use. If the US proposed "banning" encryption, anything's possible.
Thank goodness Monero is decentralized and open source. Otherwise, government measures would've destroyed it already. As long as people have a choice, nothing else matters.
For example, you can't prove a transaction really compared to normal coins like Bitcoin and Ethereum.
You can, see How to prove you've made a payment. But maybe you mean that you can't prove "someone" made a transaction if this "someone" is not you (or doesn't provide you the tx key), and in this case you're probably correct.However: is this enough to make it "more difficult" to use? Who would need to prove that someone made a payment, if he's neither the sender nor the receiver?
Sending and receiving coins with XMR is as easy as with all other coins (although the addresses are quite long, but that doesn't make much of a difference for me).
In addition, Monero is a DarkNet coin and we can suffer from crime and scam more easily because also Monero is also more difficult compared to normal coins like Bitcoin and Ethereum.
I don't see how. In general I think coins like Ethereum with all the possibilities turing-complete smart contracts provide are much more prone to scams. On Ethereum those selling you a token can even freeze it at all times and you won't be able to sell or use it anymore. You can of course check the Solidity code, but how many people do that?Very early, I tried to collect some Monero Coins for free from a faucet, where I have created a Monero address but it did not work and I did no additional research after it.
It just seemed way to difficult for when I tried to find out.
And it turned out sticking to Bitcoin was more profitable because when I've tried to collect Monero coins, a Monero Coin was at 120 USD and a Bitcoin was at 10k USD and today, a Monero Coin is still at 120 USD but a Bitcoin is at 50k USD.
For example, you can't prove a transaction really compared to normal coins like Bitcoin and Ethereum.
You can, see How to prove you've made a payment. But maybe you mean that you can't prove "someone" made a transaction if this "someone" is not you (or doesn't provide you the tx key), and in this case you're probably correct.However: is this enough to make it "more difficult" to use? Who would need to prove that someone made a payment, if he's neither the sender nor the receiver?
Sending and receiving coins with XMR is as easy as with all other coins (although the addresses are quite long, but that doesn't make much of a difference for me).
In addition, Monero is a DarkNet coin and we can suffer from crime and scam more easily because also Monero is also more difficult compared to normal coins like Bitcoin and Ethereum.
I don't see how. In general I think coins like Ethereum with all the possibilities turing-complete smart contracts provide are much more prone to scams. On Ethereum those selling you a token can even freeze it at all times and you won't be able to sell or use it anymore. You can of course check the Solidity code, but how many people do that? Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?
Monero has a big disadvantage because it's very difficult technology and for normal people, it is very difficult to understand and send funds because Monero can't be seen if we don't own it directly? I don't know much about Monero but have created an address once and it's really difficult to understand compared to normal coins like Bitcoin and Ethereum. For example, you can't prove a transaction really compared to normal coins like Bitcoin and Ethereum.
Because if we don't own it, we can see it like on Blockchair or Etherscan because Monero is not public.
Monero is victim of it's own privacy.
In addition, Monero is a DarkNet coin and we can suffer from crime and scam more easily because also Monero is also more difficult compared to normal coins like Bitcoin and Ethereum.
Monero is quite an exotic coin.
There are things to benefit from a cryptocurrency project and not only the name. But the price of the coin and the exchange rate in buying and selling in exchange platforms. We all know that Monero is a decentralized projects but probably people are not using it because of the price rate both in decentralized exchanges and centralized exchanges.
Yes we all know that in the cryptocurrency ecosystem space, privacy is very much important but if the project price is not favourable to the customer or the public, nobody will use it.
Yes we all know that in the cryptocurrency ecosystem space, privacy is very much important but if the project price is not favourable to the customer or the public, nobody will use it.
With its use, I believe Monero offers high anonymity levels, but its adoption is limited due to transparency and regulatory requirements, and regulators posing barriers to mass adoption. Nonetheless, it's a crucial asset for those valuing financial transaction confidentiality. It has the potential to become a mainstream coin, but it needs to overcome these hurdles.
Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?
Regulatory pressures on exchanges have destroyed any hopes of XMR ever being any more than a P2P privacy coin. It’s sad but I understand why governments hate it. Nothing is stopping us from using it, it is great at what it was designed for but its strengths are in fact what has destroyed any chances of it ever going mainstream.
Heh. That is rather an ironic image made by the Monero community themselves to encourage people into buying Monero. Actually, Monero is one of the cryptocurrencies I have seen to have a dedicated community behind it which is willing to actively donate to the developer team and also donate for projects to further sow awareness about Monero in people interested (or not) into privacy. The silliest way I have seen them do that it has been by creating a common fund to hire artists and draw the Monero mascot/waifu "Monero-chan" in very suggestive and funny situations.
For some reason using a representation of the coin/brand in the form of an anime characters is something which is even being done by brands like Opera GX, to appeal the younger generations of internet users and fans of japanese animation.
You should look for Monero Chan, you may like the strategy Monero bros are using to make their coin well known, be advice though, some of the pictures/representations could be considered to be raunchy or even not safe for work.
For some reason using a representation of the coin/brand in the form of an anime characters is something which is even being done by brands like Opera GX, to appeal the younger generations of internet users and fans of japanese animation.
You should look for Monero Chan, you may like the strategy Monero bros are using to make their coin well known, be advice though, some of the pictures/representations could be considered to be raunchy or even not safe for work.
Banks, governments, and big investors may not like Monero. But that doesn't mean "it's the end of the world". The privacy coin will survive thanks to the way it was designed. Who needs centralized exchanges and the endorsement of "Wall Street", anyways? It's not about the money, but rather how Blockchain tech can make our world a better place.
If you're a true believer of crypto, use Monero. Otherwise you can choose among the plenty of centralized "shitcoins" available on the market. Even Bitcoin is becoming centralized with the spot ETFs. Hopefully, Monero will live alongside Fiat currencies for generations. Just my thoughts
If the Monero community continues to be as dedicated and as committed as it has been from the beginning of the project, then I believe Monero will indeed continue to exists for a long time. It is because behing a project like this one, there is not only money being taken into consideration, it is also an experiment on Blockchain can be used to enhance and project the right of the people, in the case, the right to privacy.
Even if the price of money started to go down, it will countinue to be relevant as long as it's Blockchain does not enf up compromised for some kind of centralized attack.
While investigating about Monero, I read how it was designed not to only project privacy but also how it's mining setup or algorithm is about preventing big miners to gain access to a important concentration of hashrate in the network, making it more difficult to become vulnerable to a 51% attack in the long term.
It is a good project, anyone who is really into decentralized alternative currencies should take a look on it.
Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?
There are many other altcoins that are more popular besides monero, now everyone is paying attention to the main coin, namely bitcoin, because monero is an altcoin so it is not very popular at the moment. Apart from Bitcoin, Monero was beaten by Ethereum, which became the main altcoin of choice for investors.Let's take a closer look at how Monero is developing this year and it will be bullish again whether Monero will be the best choice.
Yes Monero is not so popular which it was aspected. I think Monero team are not proper active. Because they are not able to create It's usability. Starting was good i think but day by day it being unpopular. I am seeing gradually decreasing It's marketcap and volume. Today also decreased 32% volume. It is too much alarming for Monero.
And i think we shouldn’t compare it with bitcoin. Bitcoin is mother of all coin. I Think team will be careful about Monero's unpopularity.
And i think we shouldn’t compare it with bitcoin. Bitcoin is mother of all coin. I Think team will be careful about Monero's unpopularity.
Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?
There are many other altcoins that are more popular besides monero, now everyone is paying attention to the main coin, namely bitcoin, because monero is an altcoin so it is not very popular at the moment. Apart from Bitcoin, Monero was beaten by Ethereum, which became the main altcoin of choice for investors.Let's take a closer look at how Monero is developing this year and it will be bullish again whether Monero will be the best choice.
For me personally I found it back years ago and couldn't be bothered with trying to figure out how to use it (I was fairly new to crypto when monero came out). The harder something is to use then the less popular it is. Because generally speaking most people even now don't exactly know how crypto works so they stick to the "easy" coins.
Maybe at that time you used Monero light wallets like Feather or Mymonero weren't out?Above all Mymonero is not more complex to use than most other cryptocurrency wallets. At least if the only thing you want to do is to invest, hold and transfer Monero. I think it's even easier to use than most Bitcoin wallets, including light wallets like Electrum. Of course, if you want to protect your privacy and use one-time stealth addresses, then there is a small step you need to learn to do but it is really not that bad.
Nevertheless I prefer Feather because it is more trustless (you're verifying blocks yourself, but don't have to store them).
In general I think that currently the price is low because some of the short-term investors at Binance went away for obvious reasons. But there is currently a growing ecosystem of no-KYC exchanges, P2P exchanges and atomic swap platforms, so the equilibrium between supply and demand should be restored eventually. This doesn't mean that Monero will instantly return to its previous price, but I expect a slow but constant recovery.
Three days to go and Binance's influence (I don't know about market manipulation, but the delisting situation creates selling pressure itself) on XMR will be a thing of the past.
Jump to: