Topic: Why is Monero so unpopular? - page 4. (Read 1700 times)

If the hacker used centralized exchanges, then he left a trail that would link the Monero to his identity. XMR's privacy features won't matter if you aren't cautious. I'd bet Finnish authorities will have a hard time finding the hacker if he would've used DEXs and/or P2P trading platforms. Lesson learned, I guess.

Hopefully, the Monero blockchain remains private enough to combat government surveillance. It's still the #1 privacy coin in the world (despite being widely unpopular in crypto land). Maybe it will be the only coin of its class that will stand the test of time?

Monero is still widely used by many, although there are countries where owning Monero is illegal. Due to privacy coin feature Monero bans in the EU. While I've never used it, I believe those who need privacy coins, use it.

Despite these considerations, Monero remains prevalent as a top 30 cap coin.

They made buying and selling more difficult, is that so? Monero can be bought on almost any exchange, including binance. Monero is also sold on exchangers. But, I wonder why it is not available on decentralized exchanges...

there are several things that make monero unpopular one of which is because monero offers a very high level of privacy than other cryptocurrencies usually that way is less favored by financial regulators who want more transparency.
Even though monero may not be as popular as other cryptocurrencies, the value of monero is still relevant depending on the needs and preferences of other users.

Monero is a privacy focused coin that makes it popular to people who wants their payments to be untraceable. And Monero is so much effective in that sense that it is one of the most used coins for people laundering money, funding terrorism and providing illegal goods and services. It's the coin of choice for darkweb marketplace. It is often associated with crimes and hence considered a criminal coin.
That's why it's a prime target for law enforcement agencies. They are doing all they can to crack down and stop the use of Monero. They have made it such difficult to buy and sell Monero that normal traders and investors who have nothing to hide don't bother taking the trouble of owning it.

What main coin do you mean? and what kind of privacy does monero offer?
Main coin means beating bitcoin or becoming the king of altcoins? in crypto it is not only about privacy but also about technology, popularity and transaction speed.

Speaking of Monero, do you guys heard about this news? Finnish authorities traced Monero transactions tied to Vastaamo hack.


I might have my doubts though, maybe along the way when he transferred it to a CEX, Binance. And we all know that Binance works with regulators and authorities and this is how they traced it back to the criminals. And not directly breaking the privacy-centric code of Monero. In any case, the hacker is already with the authorities and it's hard for Kivimäki even if he covers his track, but still it lead him to his bank account.

Privacy is NOT a crime. It's a human right. Just because some people use privacy for bad things, doesn't mean it should be completely discarded. I know Monero has legitimate use cases thanks to its privacy features. Those running a business might want to hide their transactions from prying eyes. Or those who don't want their family or friends to know their entire financial life can use Monero's privacy features for complete peace of mind.

As with every technology, Monero is a "double-edged sword". It can be used for both good and bad things. Unfortunately, governments' misinformation and false propaganda hss led the public believe privacy coins are solely used for criminal activities. You can see why XMR and similar coins are widely unpopular these days. At least we know the Monero project won't be going anywhere soon. As long as it remains decentralized and censorship-resistant, nothing will be able to stand on its way.

The main problem with Monero is that it tries to maintain too much privacy which is considered illegal activity. Moreover some exchanges have been asked to be cautious while listing it. Moreover, cryptocurrencies like Bitcoin lack widespread acceptance with the mainstream, which further limits its use. Because monero is behaving like a total anti-government. Officially called it anonymous for czar's privacy. This is why monero has become an unpopular token.

I watched a big interview with a man in uniform who is engaged in crime investigations, and it was he who told about the scheme of laundering bitcoins through monero. And it looks true, since I've been studying how the monroe blockchain works.

Who told you Monero is used for money laundering? If you believe everything the government says, then you don't have what it takes to be in crypto. For what I know, Fiat currencies are used more for illegal activities than cryptocurrencies. The vast majority of Monero users are legitimate (AFAIK). Of course, there's no way to prove this. Especially when transaction data in the XMR blockchain is obfuscated. I guess that's why governments are keen on shutting down Monero for good. Or at least, de-list it from as many exchanges as possible to prevent it from reaching mainstream adoption.

I have to admit using Monero is a little bit complicated if you're used to ordinary cryptocurrencies such as BTC and LTC. This slight learning curve is one of the many reasons why most people avoid XMR in the first place. At least we know Monero won't be going anywhere soon. As long as the project is being actively developed, there should be nothing to worry about. Maybe XMR will outlast many of the shiny-new coins we know and love today?

If there is such a thing as dirty bitcoin, the bitcoin you get back will be just as dirty as the bitcoin you put in. That's not laundering, it's hiding your trail.

Monero is very popular in narrow circles, but not all beginners have heard about it, so it's easier to keep money in bitcoins, due to the growth of the latter. Monero is used to launder dirty money, including dirty bitcoins. The scheme is simple dirty bitcoin - montero - bitcoin. The money was laundered, but it is stored in bitcoins or in stablecoins, therefore there is no big increase in the price of Monero and its popularity.

Regulations will get tougher over time. I hardly doubt Monero will gain the approval of the regulators due to the way it was designed. The cryptocurrency will face constant opposition from mainstream governments until it's "banned for good". At least, people will still be able to get access to it through DEXs and P2P exchanges. What's important is that Monero stays private and decentralized forever. As long as it stays that way, there should be nothing to worry about.

I couldn't imagine an scenario where privacy coins become extinct in the future. If that happens, everything crypto (especially Bitcoin) has achieved so far would be nothing but lost. We can never underestimate the power of governments and banks. No one can predict the future, so lets hope for the best.

Monero, Bitcoin and Litecoin have a very high trust among crypto users and also these coins have a very large adoption in the crypto environment. These coins are found in many services and are good ways to pay for goods and services. Undoubtedly, these coins will never die because they have a utilitarian function and not just speculation on exchanges.

Of course, other coins have a better chance of fetching a better price. I also agree that Monero is a good coin. But is it worth it for investors to save the coins and then hope to make a profit? I do not think so. The price of Monero is the same as XRP in that there are not too many significant movements. I think that's one of the key factors that makes Monero pricing not so popular.

Montero is a decentralized peer-to-peer payment currency. But unlike Bitcoin, which allows you to see any and all account balances and transactions, with Monero everything is hidden using something called ring signatures, which obscure the destination, the origin, and the amount sent. Other tech layers help to do things like obscure your IP address, allow for stealth addresses, and hide the transaction amount. Monero is untraceable, unlikable, and truly private, which is why it has remained so popular throughout the years. As long as there is a need for privacy, there will be a need for monero. So I don't believe it's the coin that's actually unpopular, but actually a bit mysterious and private, but quite popular. I think Monero has a distinctive place in the marketplace for digital currencies, particularly because some individuals think it is far better than Bitcoin.

Monero differs from the bulk of cryptocurrency in its high degree of anonymity, and this is the problem of its current state. Many understand that states will strengthen regulation of cryptocurrency and this will primarily concern the identification of participants in the cryptocurrency market. If this affects Monero, then its specialness and current attractiveness will disappear and this coin will turn into hundreds and thousands of them that are available in this market. Some states, including Japan, simply prohibit the circulation of this coin on their territory and this cannot but affect the decline in its popularity.

No! No!!

Your opinion is disparaging.
I'm not sure about this but I don't think there is any altcoin that has high level of privacy like Monero. Bitcoin has its own privacy, but can be easily broken and that's why you see we have lots of mixers around bitcoin to improve their privacy by using some specialized protocols to achieve privacy to the fullest and despite that, there are some onchain analyst that still find a way to break them and if you're not careful about the choice of mixers, they can keep your backlogs which can be used to track you down if they further investigate the mixers later in the future.

However, monero don't require all of this long process. A VPN on any exchange or routine through onion and making transaction through monero is one the best way to archieve maximum privacy, you will hardly here much about chain analyst saying they have tracked how money are move in monero. This is why some exchange don't allow users to deposit Monero on the exchange because on chain analyst and the government hardly track the source and the destination of transactions with monero.


Monero xmr is really good to achieve high priority of privacy but at the same time, it's scary on the level of what can be done with it and bitcoin anonymousity don't come close to it but it's still the best compare to bitcoin privacy.

I can really say that Monero was one of the oldest altcoin that I have ever came across. 5-6 years back Monero along with XRP and LTC had crazy fan base. Whenever you ask any trader about their holdings, Monero will be surely present in that list. Yes days passed and new coins came with better opportunities, hence people moved from these OG coins to the new ones to make more profit. I still believe that Monero has good capabilities and it’s a good coin to invest.