Why is Monero so unpopular? - page 5.

Blitzboy

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Quote from: Abiky on September 26, 2023, 07:29:25 PM

Quote from: Xal0lex on September 22, 2023, 02:10:17 PM

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts Grin

I believe it is indeed a serious issue that most people are leaning towards transparent coins like Bitcoin and Ethereum. Your observation about Monero potentially getting sidelined is astute. It is hard to use, and that is a significant deterrent for many.

Think about this: What if the "nothing to hide" mentality changes? Societal perspectives are ever-evolving. People might swing back to valuing their privacy more, and then, coins like Monero could see a resurgence.

However, I agree that, for now, the trend is towards transparency, and the regulatory environment is adding to that momentum. The future of Monero and similar coins looks uncertain in the centralized exchange ecosystem, and its really a wait-and-watch situation as you rightly put it. Thanks for adding to the wisdom of the crypto community with your thoughts!

livingfree

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It actually did.

But with all centralized tokens and shitcoins that have come to promote themselves more profitable than the more legitimate cryptos like XMR. It has became the choice of many and didn't care at all with privacy stuff.

Also, the banning scenarios that has been banned by many exchanges on it that made people scared of it that it might be nonsense anymore to hold it when the governments are fighting against privacy cryptos.

cute nmp

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Dont know the actual reason why Monero is still unpopular among many people it is one of my favorites been holding some since the bullmarket ,Though i sold much of it now i am still holding some. It is still so much better than most of the new altcoins in the market today dont know why it is still not much adopted till now.

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Quote from: Abiky on September 26, 2023, 07:29:25 PM

Quote from: Xal0lex on September 22, 2023, 02:10:17 PM

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts Grin

That's the big obstacle to mass adoption. People don't want to delve into the technology and utility, and value only the speculative part of cryptocurrencies. If it's the other way around and technology is paramount to people, we won't notice hundreds of thousands of useless tokens that have no technology and utilitarian properties disappearing from the market. It is people's own fault that the cryptocurrency market is flooded with a lot of shitcoins, because they invest their money in them, which means there is a demand. Where there is demand, there will be supply.

Abiky

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Quote from: Xal0lex on September 22, 2023, 02:10:17 PM

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts Grin

Xal0lex

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Quote from: Abiky on September 21, 2023, 07:15:10 PM

Quote from: Xal0lex on September 19, 2023, 12:42:59 PM

Monero can exist without whales and institutionals, it will also exist if all centralized exchanges abandon it. In these scenarios, the utilitarian properties or the ability to remain anonymous will not suffer. What would suffer would be the users themselves, as many Monero holders bought the coins at prices of ~$50-500. What would happen to them in a negative scenario? They will lose their money and their coins will be devalued, but their privacy will not go anywhere. All the discussed threats around Monero are only about its speculative functions and its price.

You're right about that. The main problem is that most people measure a cryptocurrency's value in Fiat. Without mainstream CEXs supporting Monero, I fail to see how adoption will grow in the long run. On the contrary, adoption will decline since most people will be afraid of using an "outlawed" cryptocurrency in the first place. It's likely the USD value of XMR will decline too. If you don't care about the price, then Monero getting de-listed from every CEX shouldn't be a major concern.

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

RussianEnglishTranslation

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0xMonero does everything that Monero was supposed to do better. It's EVM compatible, limited supply, not a honey pot, no whales, no viruses or cryptojackers etc.

Abiky

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Quote from: Xal0lex on September 19, 2023, 12:42:59 PM

Monero can exist without whales and institutionals, it will also exist if all centralized exchanges abandon it. In these scenarios, the utilitarian properties or the ability to remain anonymous will not suffer. What would suffer would be the users themselves, as many Monero holders bought the coins at prices of ~$50-500. What would happen to them in a negative scenario? They will lose their money and their coins will be devalued, but their privacy will not go anywhere. All the discussed threats around Monero are only about its speculative functions and its price.

You're right about that. The main problem is that most people measure a cryptocurrency's value in Fiat. Without mainstream CEXs supporting Monero, I fail to see how adoption will grow in the long run. On the contrary, adoption will decline since most people will be afraid of using an "outlawed" cryptocurrency in the first place. It's likely the USD value of XMR will decline too. If you don't care about the price, then Monero getting de-listed from every CEX shouldn't be a major concern.

I'm happy with Monero just the way it is as long as it remains decentralized and censorship-resistant. With constant network upgrades aimed to improve privacy and keep "ASICs away", it's likely Monero will last for a very long time. Maybe it will get to live alongside Bitcoin for generations? Just my opinion

Joeyp

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Quote from: mich on August 20, 2023, 04:40:02 AM

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.

Would be interested which are those many other alt coins that have more privacy than monero ?

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If you are looking for main coin to invest in this bearish, I will advise you to make Ethereum or binance your major coin that you will invest your money and hold for that price of your wish to appear before you can sell to make a passive income. I don't think monero is more popular like all those coins I mentioned, if truly you want to make a good income from your investment then carry out your personal research to know if truly monero has a secure privacy like Ethereum and binance which holders has tried over some years and their privacy is well secured. Once your privacy is secure in any coins you are holding for long, show that you don't have anything to worry about that particular coin you are holding because that is the sign of potential coins.

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Quote from: lixer on September 19, 2023, 09:19:41 AM

The whole point of monero is privacy, and in the day and age where people are not caring about their privacy, that means that asking people to work a lot more to get monero in exchange of something they do not even want was the real reason why it never got any big attention. Maybe some people will disagree with me, but the results are the proof of this already anyway.

I agree with you, many people don't care about privacy and don't care about coin that's the main goal is privacy, Until the government limited that, they just realized that Monero important and started thinking to having one. But a bit too late because the price has increased many times. There are many exchanges which makes it easy to exchange btc to monero quickly wihout create account or login. I think it's not a big problem. but, i don't know why until today, there are still many who don't care about that even the goverment Banned crypto and blacklisted it.

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Quote from: Blitzboy on September 15, 2023, 11:13:06 AM

Quote from: Abiky on September 12, 2023, 06:17:55 PM

Quote from: Xal0lex on September 12, 2023, 11:34:13 AM

Monero has long been systematically removed from centralized exchanges and moved to lesser-known exchanges or towards P2P. If Monero disappears from all centralized exchanges, the trading volume will move to decentralized exchanges, as was the case with ETH. When FTX went bankrupt, ETH trading volume on Uniswap exceeded that of centralized exchanges for the first time. Investors will find a way out, the life of the coin does not end on centralized exchanges, it is only somewhat hindered.

Liquidity will move to decentralized exchanges without a doubt. The real question is: Will Monero be valued the same? For what I know, institutional investors and whales are the ones who usually keep market prices afloat. An "outlawed" cryptocurrency would certainly scare away these people from getting into the game. This means less demand and a lower market price.

At least, Monero won't be going anywhere thanks to the way it was designed (decentralized and censorship-resistant). Who knows if Monero remains the sole privacy coin in the future due to strict government regulations? Just my thoughts Grin

Naturally autonomous, they break the rules. Privacy and freedom have always been Monero's priorities. Whats its value? The market's vibe changes often, which I adore. According to you, institutional purchasers and "mighty whales," stabilize the market. Demand may drop if people dont want to utilize a "illegal" cryptocurrency. Monero's endurance comes from its autonomy and inability to be blocked, although government regulations' total impact is unknown. The open design of Monero may be its strength or weakness in a market that wants to be trusted.

Monero can exist without whales and institutionals, it will also exist if all centralized exchanges abandon it. In these scenarios, the utilitarian properties or the ability to remain anonymous will not suffer. What would suffer would be the users themselves, as many Monero holders bought the coins at prices of ~$50-500. What would happen to them in a negative scenario? They will lose their money and their coins will be devalued, but their privacy will not go anywhere. All the discussed threats around Monero are only about its speculative functions and its price.

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Quote from: Abiky on September 14, 2023, 07:22:20 AM

Quote from: AmoreJaz on September 12, 2023, 06:24:42 PM

besides, not many crypto users have the knowledge to use monero. so they stick to known ones like bitcoin. also some exchanges are not offering the monero trading pair because of regulations.
but for those who are after for their privacy, i believe, they will find monero. and also, monero team is not so keen in marketing their coin. hence, even new users are not into this privacy coin.

Indeed. Unlike Bitcoin and similar cryptocurrencies, Monero has a steep learning curve. It uses three keys instead of two (spending key, view key, public key). Additionally, Monero wallets ask users how many "mixins" they want before making a transaction (the higher the number, the more anonymous your transaction will be).

I guess that's why Monero is not as widely-adopted as other coins (aside from the fact that it's a privacy coin often attacked by governments themselves). It's likely XMR will end up being traded solely at decentralized exchanges and P2P trading platforms due to fierce government regulations. As long as it's able to stay private and decentralized forever, there should be nothing to worry about. Just my opinion

The fact that it is a bit more complicated, or even a lot more complicated could not be the only reason to be fair, I feel that we are not going to end up with any result that would be all that much different from just that alone. The fact that it requires much more work BUT it doesn't offer anything that many people want is the real reason.

The whole point of monero is privacy, and in the day and age where people are not caring about their privacy, that means that asking people to work a lot more to get monero in exchange of something they do not even want was the real reason why it never got any big attention. Maybe some people will disagree with me, but the results are the proof of this already anyway.

Abiky

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Quote from: X-ray on September 14, 2023, 09:22:09 PM

Anyone would rather than avoid to use this privacy coin instead of being accused by government to do criminal activities and being jailed. Privacy is not a major concern for anyone in crypto. To be transparent, they agree to provide their identities to the exchange site.
Privacy coin may not be needed again. The regulators can easily accuse people who used privacy coin to be connected with some criminal activities. Monero is good only for p2p transaction.
The beauty of privacy coin already burned by regulators with so many restrictions.

Yes. Centralized exchanges already defeat privacy coins' original purpose. Most people don't care about this since they "have nothing to hide". Once governments ban Monero from widespread use, interest/demand for the cryptocurrency will decline. I believe only criminals will use Monero, while the rest of the world will "stick" with ordinary cryptocurrencies such as Bitcoin and Ethereum. Governments will try to shut down the Monero blockchain, but they will ultimately fail due to its decentralized and censorship-resistant design.

We can blame the regulators for bringing a "bad image" to privacy coins among the general public. I guess that explains why Monero is so unpopular. I'm fine with that as long as decentralization wins in the long run. Who knows if Monero lasts for generations? Just my thoughts Grin

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Quote from: Abiky on September 12, 2023, 06:17:55 PM

Quote from: Xal0lex on September 12, 2023, 11:34:13 AM

Monero has long been systematically removed from centralized exchanges and moved to lesser-known exchanges or towards P2P. If Monero disappears from all centralized exchanges, the trading volume will move to decentralized exchanges, as was the case with ETH. When FTX went bankrupt, ETH trading volume on Uniswap exceeded that of centralized exchanges for the first time. Investors will find a way out, the life of the coin does not end on centralized exchanges, it is only somewhat hindered.

Liquidity will move to decentralized exchanges without a doubt. The real question is: Will Monero be valued the same? For what I know, institutional investors and whales are the ones who usually keep market prices afloat. An "outlawed" cryptocurrency would certainly scare away these people from getting into the game. This means less demand and a lower market price.

At least, Monero won't be going anywhere thanks to the way it was designed (decentralized and censorship-resistant). Who knows if Monero remains the sole privacy coin in the future due to strict government regulations? Just my thoughts Grin

Naturally autonomous, they break the rules. Privacy and freedom have always been Monero's priorities. Whats its value? The market's vibe changes often, which I adore. According to you, institutional purchasers and "mighty whales," stabilize the market. Demand may drop if people dont want to utilize a "illegal" cryptocurrency. Monero's endurance comes from its autonomy and inability to be blocked, although government regulations' total impact is unknown. The open design of Monero may be its strength or weakness in a market that wants to be trusted.

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Quote from: Kelvinid on September 15, 2023, 03:39:30 AM

Quote from: woez on September 14, 2023, 09:45:57 PM

Quote from: j1792 on August 20, 2023, 03:02:36 AM

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

Maybe Due to lack of demand and market correction it has not yet recovered, but if those who already understand what Monero is, they will happily continue collecting and accumulating to this day.

It was not just MAYBE as it was the real thing that happened with Monero as people didn't see it as a valuable asset that could give them a huge profit.
As an investor, I don't just look for privacy but for an ROI which definitely I can't find it with Monero so why do I have to choose this project which in fact there is Bitcoin that really suits my goal? Practically speaking, despite the fact that Monero gives privacy, unfortunately, it was not the thing that most of us wanted to see which makes them ignore this coin.

Agreed, there’s only people here that seek pure privacy and most of user preferred privacy with good investment opportunities which Bitcoin offers despite Bitcoin doesn’t complete privacy at all.

Monero is know for being privacy coin so I don’t understand the reason for mocking about Monero not being popular while monero main goal is to become a stealth coin which they can’t achieve if it’s become popular. They are now even delisted on some huge exchange for being a privacy coin.

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Quote from: woez on September 14, 2023, 09:45:57 PM

Quote from: j1792 on August 20, 2023, 03:02:36 AM

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

Maybe Due to lack of demand and market correction it has not yet recovered, but if those who already understand what Monero is, they will happily continue collecting and accumulating to this day.

It was not just MAYBE as it was the real thing that happened with Monero as people didn't see it as a valuable asset that could give them a huge profit.
As an investor, I don't just look for privacy but for an ROI which definitely I can't find it with Monero so why do I have to choose this project which in fact there is Bitcoin that really suits my goal? Practically speaking, despite the fact that Monero gives privacy, unfortunately, it was not the thing that most of us wanted to see which makes them ignore this coin.

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Quote from: j1792 on August 20, 2023, 03:02:36 AM

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

Maybe Due to lack of demand and market correction it has not yet recovered, but if those who already understand what Monero is, they will happily continue collecting and accumulating to this day.

Quote from: X-ray on September 14, 2023, 09:22:09 PM

Anyone would rather than avoid to use this privacy coin instead of being accused by government to do criminal activities and being jailed. Privacy is not a major concern for anyone in crypto. To be transparent, they agree to provide their identities to the exchange site.
Privacy coin may not be needed again. The regulators can easily accuse people who used privacy coin to be connected with some criminal activities. Monero is good only for p2p transaction.
The beauty of privacy coin already burned by regulators with so many restrictions.

That's right, apart from that, many have adopted a model like the Monero coin developed and it may be more comfortable and safe from the eyes of regulators and other institutions who continue to look for strange issues related to things that are not good in digital transactions.

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Quote from: Abiky on September 14, 2023, 07:22:20 AM

Quote from: AmoreJaz on September 12, 2023, 06:24:42 PM

besides, not many crypto users have the knowledge to use monero. so they stick to known ones like bitcoin. also some exchanges are not offering the monero trading pair because of regulations.
but for those who are after for their privacy, i believe, they will find monero. and also, monero team is not so keen in marketing their coin. hence, even new users are not into this privacy coin.

Indeed. Unlike Bitcoin and similar cryptocurrencies, Monero has a steep learning curve. It uses three keys instead of two (spending key, view key, public key). Additionally, Monero wallets ask users how many "mixins" they want before making a transaction (the higher the number, the more anonymous your transaction will be).

I guess that's why Monero is not as widely-adopted as other coins (aside from the fact that it's a privacy coin often attacked by governments themselves). It's likely XMR will end up being traded solely at decentralized exchanges and P2P trading platforms due to fierce government regulations. As long as it's able to stay private and decentralized forever, there should be nothing to worry about. Just my opinion

Anyone would rather than avoid to use this privacy coin instead of being accused by government to do criminal activities and being jailed. Privacy is not a major concern for anyone in crypto. To be transparent, they agree to provide their identities to the exchange site.
Privacy coin may not be needed again. The regulators can easily accuse people who used privacy coin to be connected with some criminal activities. Monero is good only for p2p transaction.
The beauty of privacy coin already burned by regulators with so many restrictions.

Abiky

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Quote from: AmoreJaz on September 12, 2023, 06:24:42 PM

besides, not many crypto users have the knowledge to use monero. so they stick to known ones like bitcoin. also some exchanges are not offering the monero trading pair because of regulations.
but for those who are after for their privacy, i believe, they will find monero. and also, monero team is not so keen in marketing their coin. hence, even new users are not into this privacy coin.

Indeed. Unlike Bitcoin and similar cryptocurrencies, Monero has a steep learning curve. It uses three keys instead of two (spending key, view key, public key). Additionally, Monero wallets ask users how many "mixins" they want before making a transaction (the higher the number, the more anonymous your transaction will be).

I guess that's why Monero is not as widely-adopted as other coins (aside from the fact that it's a privacy coin often attacked by governments themselves). It's likely XMR will end up being traded solely at decentralized exchanges and P2P trading platforms due to fierce government regulations. As long as it's able to stay private and decentralized forever, there should be nothing to worry about. Just my opinion

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