Why is Monero so unpopular? - page 8.

Abiky

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Quote from: dansus021 on August 23, 2023, 08:16:30 PM

Bitcoin would be the main coin at least for now but I do believe that no one is going to move bitcoin and change the crown.

Monero is highly popular to this date because its privacy for its user and for miner its cpu friendly but there is a catch Usually centralized exchange wont host Monero because its "privacy" usually it happen with centralized exchange that complies with the regulator.

Who said anything about Monero displacing Bitcoin as the top crypto in market cap? We're talking about Monero becoming an extremely-popular coin like it's the case with Ethereum and XRP these days. I don't see this happening anytime soon because of so much hatred against privacy coins. Especially by mainstream governments who don't want people getting financial privacy and freedom. If it can't be tracked or traced, then consider it an "Enemy of the State".

You can see why most exchanges have de-listed Monero from their platforms. Even some have gone as far as de-listing Litecoin after it added the "Mimblewimble" privacy technique. It's this reason why Monero will remain "under the radar" for as long as it lives. With ever-increasing regulations, it's likely Monero will end up being traded only on DEXs and P2P trading platforms. I think this is for the best. Who knows if this will strengthen Monero's decentralization in the long run? Just my thoughts Grin

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Quote from: AmoreJaz on August 23, 2023, 05:22:28 PM

Quote from: eaLiTy on August 23, 2023, 05:17:40 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?

In how many exchanges have you seen Monero listed, the reason is that the government does not like people having their privacy and they will be forcing all the centralized exchanges to delist privacy centric coins, if not they wont be able to conduct their business as usual. If you really think that Monero should be the main coin, you should use them irrespective of the price or where they are listed.

monero is not very popular to traders because of its availability in trading platforms. but of course, those who are cautious with their privacy are going to this alt. this coin can't be the main coin overpowering bitcoin. just look at how many governments are cracking down coins like xmr. and besides, not many crypto users are oriented to use this privacy coin. they will most likely go to the top coin, which is bitcoin.

Exchanges are afraid of listing monero in their platforms because of different regulations that are hunting them. Monero is easily delisted on exchanges and it affects the coin and exchanges listing it.
But according to AmoreJaz, not everyone is privacy oriented in this industry. Those who has need for privacy are going for monero coin. Talking about dominance or popularity, bitcoin cannot be overtaken as it is the only truly decentralized coin.

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Quote from: asriloni on August 21, 2023, 11:23:08 AM

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?

People didn't really care with privacy these days. The reality is that hundreds of millions of people used a centralized exchange site that required verification and it can be hard to accept. Monero was very effective when it comes to the P2P transaction.
It's actually a useless coin when you were trading it on centralized exchange site as your identity known by the exchange site. The privacy coin is not popular anymore. People prefer to get utility instead of privacy coin.
Privacy is not necessary and it depends on yourself. Using an exchange site is easier to withdraw or deposit money to crypto than using p2p, even if you value privacy coin.
So many privacy coins are dead now. Government is also the main reason people are willing to use centralized exchange site. They can be sued money laundering purpose.

THIS! This is such an important thing that people do not realize enough, it's very important to make sure that we are seeing something that would be much better and people could do a bit more interest to it. There is no logic that people would want to give their KYC to exchanges but then hide their money at monero, it's obvious that we do not care about it anymore and we will probably keep on not trusting it neither.

Just go on about your day like nothing happened if you trust that monero is good, just keep buying it, but things changed and we are not caring about it all that much. We willingly give our information to places in order to start using them, if we are that much sure about it then why would we want to change anything.

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Bitcoin would be the main coin at least for now but I do believe that no one is going to move bitcoin and change the crown.

Monero is highly popular to this date because its privacy for its user and for miner its cpu friendly but there is a catch Usually centralized exchange wont host Monero because its "privacy" usually it happen with centralized exchange that complies with the regulator.

AmoreJaz

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Quote from: eaLiTy on August 23, 2023, 05:17:40 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?

In how many exchanges have you seen Monero listed, the reason is that the government does not like people having their privacy and they will be forcing all the centralized exchanges to delist privacy centric coins, if not they wont be able to conduct their business as usual. If you really think that Monero should be the main coin, you should use them irrespective of the price or where they are listed.

monero is not very popular to traders because of its availability in trading platforms. but of course, those who are cautious with their privacy are going to this alt. this coin can't be the main coin overpowering bitcoin. just look at how many governments are cracking down coins like xmr. and besides, not many crypto users are oriented to use this privacy coin. they will most likely go to the top coin, which is bitcoin.

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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?

In how many exchanges have you seen Monero listed, the reason is that the government does not like people having their privacy and they will be forcing all the centralized exchanges to delist privacy centric coins, if not they wont be able to conduct their business as usual. If you really think that Monero should be the main coin, you should use them irrespective of the price or where they are listed.

Abiky

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Quote from: Hispo on August 22, 2023, 12:09:52 PM

Ironically, while Monero is not available in Binance USA; last time I checked I could buy it in Binance global. I did so I could withdraw at lower fees which I would have had to pay in order to withdraw with Ether or Bitcoin. Withdrawing Monero only take a few cents in Binance. Perhaps CZ had grown fond of it or he realizes its importance in the world. So since Monero has not been delisted from Binance global, I think there is still much potential liquidity for that ecosystem to accumulate; even if someday Monero gets excluded from Binance, that won't stop the developers and the community behind this project. One could argue on the use some people give to a privacy coin like this one, but the important fact and what everyone needs to get is privacy as a right and not something we should kindly ask to big corporations and the big brother. Wink

It's obvious Binance US doesn't have XMR as a trading pair. That's because they want to avoid trouble with the regulators. With how aggressive the SEC is, crypto exchanges will think twice before continuing their operations within the US. Other countries are more flexible in regards to crypto/Blockchain tech regulation. Wherever privacy coins are accepted with open arms, will be the place where exchanges will list XMR without remorse.

Don't expect Monero to gain popularity, as most of the world's governments hate it. I'm fine with Monero just the way it is, as long as it remains decentralized and open to everyone. I wouldn't be surprised if XMR ends up being traded only on DEXs and P2P trading platforms due to ever-tightening crypto regulations. Who knows what the future holds for the cryptocurrency? Just my opinion

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Quote from: DeathAngel on August 22, 2023, 12:00:39 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?

Monero is genius, it does everything you require from a privacy coin. Unfortunately its strengths have led to its downfall in the hopes of becoming a main coin. Governments hate it & regulators have threatened exchanges with operating bans in their jurisdictions if they list XMR. That has meant exchanges have delisted XMR & that’s the reason why the price isn’t as high as it should be.

It’s a great coin for anonymity but it will never be a main coin sadly.

Ironically, while Monero is not available in Binance USA; last time I checked I could buy it in Binance global. I did so I could withdraw at lower fees which I would have had to pay in order to withdraw with Ether or Bitcoin. Withdrawing Monero only take a few cents in Binance. Perhaps CZ had grown fond of it or he realizes its importance in the world.

So since Monero has not been delisted from Binance global, I think there is still much potential liquidity for that ecosystem to accumulate; even if someday Monero gets excluded from Binance, that won't stop the developers and the community behind this project. One could argue on the use some people give to a privacy coin like this one, but the important fact and what everyone needs to get is privacy as a right and not something we should kindly ask to big corporations and the big brother. Wink

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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?

Monero is genius, it does everything you require from a privacy coin. Unfortunately its strengths have led to its downfall in the hopes of becoming a main coin. Governments hate it & regulators have threatened exchanges with operating bans in their jurisdictions if they list XMR. That has meant exchanges have delisted XMR & that’s the reason why the price isn’t as high as it should be.

It’s a great coin for anonymity but it will never be a main coin sadly.

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The average Joe doesn't care about privacy, that's why it's not more popular.
Speaking for myself: I like and use Monero.

--Knight Hider

Abiky

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Quote from: Xal0lex on August 21, 2023, 11:52:38 AM

Monero has its niche in the market and has its utility, why should it be overly popular? It is just about the only old pow coin that is still trusted by privacy enthusiasts. Such projects don't need excessive attention from regulators and adoption, as it will ruin the coin, it will start to be banned even more, they will try to regulate it and things like that. Don't expect Monero to be as fast as DOGE.

That's certainly true, mate. It's best for Monero to remain "under the radar". Else, it would bring unwanted attention. Governments don't like privacy coins, so expect further opposition against Monero in the long run. With how things are turning out to be for the cryptocurrency, it's likely XMR will only be traded at DEXs in the future. Every new project we see these days is focused on smart contracts, scalability, and user-friendliness. Privacy/anonymity doesn't come to the minds of developers like it used to back in the early days. A pity because this will make crypto more centralized and transparent under the eyes of mainstream governments and third-parties alike.

At least, Monero is still the #1 privacy coin in the world. Whereas Zcash, Grin, and BEAM are lacking behind, Monero keeps bringing innovation and continuity to the privacy-oriented crypto space. Who knows if Monero is the only privacy coin left in the future? Just my thoughts Grin

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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?

Supposedly it was, unfortunately, people don't just come for privacy but they are here for making money and they saw Monero don't have such quality and so they junk and ignore it. And besides, it is not a question of why it was not the main coin because, in the first, Bitcoin has been created first before it was born.

Anyways, Monero is one of the long-existing projects in the crypto space but seems to say that people haven't seen it as a progressive project and worth investing in. Though it was not popular but at least it gives some contribution to the market as well.

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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?

There are no any privacy focused coin as popular and widely accepted and used as monero. Privacy coin is itself is a low demand genre. And most of it's demand is supplied through monero. There are a large number of privacy focused coins and once there was a trend of issuing privacy focused coins but a lot of the so called privacy focused coins have some flaws compared to monero and some had made compromises that have threatened the privacy of its users. And monero is the one actively working for its users privacy and making it a compelling coin for trade.

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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?

When the whole an only purpose of a coin is to escape regulations, don't you think that regulators will move against it sooner or later? You could have privacy while being regulatory compliant but monero use cases don't fit into that, it would only get worst parts of that deal.

Delisting has already started and i can't see it having any future, when the whole space is being regulated. Maybe it has some future with person to person trading, but i have hard time seeing it having anything near to valuation it had when it had actual fast liquidity. Not to mention that in the future, when you need to prove the origin of the money, it will be hard to do with Monero, if it even will be accepted as a source.

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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?

Before I got here in the crypto space, monero was already here in this industry. And as far as I know monero is not a security instead, it was designed as a cryptocurrency to be private as well. And some of the governments restricted it due to it became used for some illegal activities.

But despite of all these challenges where some other government banned it, monero remain its popularity in the cryptocurrency, its not true that it isn't popular. And its not the main coins because of its privacy features. Based on what I know about it.

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A few months back, I had a purpose for assessing Monero's performance. I was pleasantly surprised by its strong performance as a private coin, especially considering the underappreciated aspect of coin anonymity. Currently, it maintains its position in the top 30 of market capitalization, with a 72% value compared to its all-time high, and it contributes to over 30% of the total market trading. The key question remains: Who are the individuals trading this coin, and what purposes are they utilizing it for?

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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?

It's because it's not the firstborn. It used to be Bitcoin that was for privacy and turned into decentralization focused until Monero became the main thing and was followed by other privacy coins. Then, the government has kept chasing Monero and other privacy coins that are listed in different South Korean exchanges and have them targeted to be removed by them. That made fear everyone and started to avoid it but, it's still the main thing in terms of privacy and despite that, we can't control the likes of the people and the fear that it had made for those who just simply like it and have it sold later on turned away from it for their own safety and liquidity.

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I didn't find any news about Monero. Granted they are blue chip coins but what makes Monero less popular is that they have never seen a significant increase in price. I think that Monero is a good asset but not good enough to generate profits.

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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?

I don't think the vast majority of people think of Monero when it comes to privacy, Bitcoin started it and has always been at the headlines/forefront since it's inception. I don't think Monero can squeeze in.

There's also the idea that since it was established as a "privacy" coin, it was bound to be noticed by government institutions, and you know how that flags it as a coin of lower priority than other coins not noticed.

GreatArkansas

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Bitcoin for me is already a privacy coin.
I'm not a hater of Monero but it's just an altcoin after all. It's just the same with other altcoins that became on top because of hype.
Now Monero is becoming unpopular because there is no hype anymore and there is a lack of adoption and there is also a lot of competition from other privacy coins.

Topic: Why is Monero so unpopular? - page 8. (Read 1700 times)