Bitcoin Forum

Thinking of privacy coins like Monero, do you think that they could ever rival or challenge Bitcoin in its position?

I think not.


Maybe Monero can reach $100 per coin at the end of 2016? Who knows......? ;D


A leader of the Monero community and donator to this forum thought that Bitcoin would go to 1000000 USD/BTC in 2013:



~CfA~

Never, just thinking if money is ever to challenge bitcoin. they should stand alone with their price and not take bitcoin became their base price. Like ETH a lot of people have the same question with this.

I think altcoins can definitely challenge Bitcoin and make us question how we do things. However I do not think that any of these coins can really change anything in Bitcoin, or rival it, including Monero. The coin that will be able to influence changes on Bitcoin will most likely be a coisa that's worth implementing over Bitcoin, or worth switching to.

IMHO, the success of a cryptocurrency relies on how many people are using it. It could somehow challenge Bitcoin though because other people are looking for other option or just trying anything new. These altcoins like Monero, IMHO are even helping bitcoin in a competition sense.

Monero is just another alt-coin. It is interesting but it is quite unlikely for it to reach even $10 by end of the year, let alone challenging bitcoin.

Nah, most of the world could care less about anonymity and most don't even know about bitcoin.  Monero?  Hell no.

I don't about know about monero, personally I have some other more favorite alt coins. I think any of them can't challenge bitcoin, but I also think they can worth much more then now one day. If btc reach some very high price, I believe certain alt coins will rise also. Like someone said, price will rise if more people start to use it, and btc has limited number of coins so not everyone will be able to have btc. Logic say that many people will have to be satisfied with some other coin. Cause of that blockchain is the future, there will be coin for everyone's pocket.

Today someone asking me about the best way to send money (i.e. Western Union), responded to a suggestion of Bitcoin by saying "isn't that for illegal stuff?"
One advantage of an alt coin (perhaps not "Monero") is that it doesn't suffer from all the bad press that BTC has received.

There is quite a bit of marketing effort which has gone into Monero.
But right now, it seems to be far away from challenging bitcoin/

Yes but it has no (mainstream) press at all.  I have no friends that I could send bitcoin to, much less monero.  And what is someone supposed to do with monero?  Convert it to bitcoin!  And that's why at present it's no challenge at all.

One thing I like monero is that its always there, has the reason to exist and has the support of the community.
They've found a good place in the crypto unlike other coin today that are still finding where they wanna be until they turn out to be scam.

price may not compete btc but yes they are valuable.

it will never challenge bitcoin i guess . it has a low value and it is impossible for monero to reach even a value that is same as litecoin maybe it would take so many year before monero can reach that value .

I think Bitcoin is very concentrated, being a currency and being an asset uncorrelated to genera stock market. All alt-coins are trying to do too much, they want to change the world, probably end up an nitch coin at best, which means in terms of market cap, can not compete with Bitcoin at all.
 

If we can raise BTC transaction fees to 50 cents or more we can make some good gains for the Monero holders. Monero has an adaptive blocksize, right?

gmaxwell, icebreaker, lauda and carlton would love monero to take over. which you know very well.

but sorry monero will not prosper. it just doesnt have the hundreds of thousands of retailer acceptance. nor the many other things that bitcoins infrastructure has

That's the unfortunate thing  though.  i can see there are dice sites intended for monero, someday monero will eventually be used by thousands of users.

The only i can see that hinders the progress is that every time monero rise for just $0.50, the bagholders suddenly dumps pulling the price down which discourages buyers at some point.

Monero price is very cheap and can never challenge bitcoin. But from the ideology of Monero many persons using the dark net are becoming more and more interested in this, I have seen there in some market places people have already started to accept Monero but not in mass adoption. Who knows what can happen in the future, if the Monero coin is widely accepted in the dark net communities it sure will increase much higher in a price but challenging bitcoin is almost impossible from a coin like this. Maximum of what Monero can do is become the currency of choice in dark net and raise in price however this is not enough to challenge bitcoin.

monero can't challenge bitcoin as a payment proceccor but i'm sure people who pay more attention to their security will use monero because monero can't be tracked

are you livig under a rock, monero has its chance in 2014, now it is like forgotten, etheruem was the only coin with a very tiny possibhility to challenge bitcoin, and it failed as expected

I do not think so. It's a fork.
Yes, this coin has its advantages. But I tend to rely on psychological principles. Namely habits. Bitcoin is the most popular as the cryptocurrency, he was accustomed to handling. And what is monero? I do not think that most people have heard about it cryptocurrency anything. Everything just got used to Bitcoins.
YES, monero can have their target audience. And it can be used in some special cases for any specific purposes, but not a replacement Bitcoins.

Monero will always be a second league of altcoins, they have no potential to challenge Bitcoin. They can prey on coins on similar level like Waves, Steem, Siacoin or NXT.
Other than that I feel  Monero was somewhat hyped year ago and then forgotten by general public because Ethereum showed up and messed power distribution among altcoins.

For now there is no altcoin which could fight with BTC, mainly because of that DAO flop. And I like it that way.

No, I don't think so. People already invested in Bitcoin too much. If the coin would have something very unique to it (e.g. Etherium, etc.), It would ride along beside BTC, but not replace BTC itself.

But it still depends though. Just my 2 cents.

you high?

if you are into drugs, then monero might just be for you. its just for those in the darknet. if you aren't into drugs. just shut the fuck up!

I did play with Monero for a while and don't find it any useful. No one accepts it and there is no strong network effect like bitcoin or litecoin. We know there is no strong team to support its development. Totally agree that most alt-coins, like Monero, are distractions.

It is possible that the Monero challenge Bitcoin, since like most altcoins, it has potential.
But for that, and we view with Ethereum, it's needs a lot of organization, good security, and good staff.

But you keep on doing so. With alts and friends and replying on their useless threads like this one.




No one could surpass Bitcoin in 2014 so as not in 2016 and most likely also in 2017.

That is right. In 2014, I thought Monero had a chance to be the main coin. But it is a botnet coin now. There is not support from the miners.

botnets are miners. they mine and secure network as any other miner.

botnets can be used only in coins that can be mined with CPU and will mine the one where have most profit. If that one is Monero then they mine Monero if is some other coin then they mine that coin.  Botnets hash power was never high in Monero.  When price raise and they join also much new miners join since mining brings them profit. So botnets share stays low.

It's still in with a chance - but has seen painfully slow development - I don't know how much time fluffy is spending on it these days.

I think the best chance an anon coin has is when people start to use platforms more and more like NXT or Waves - then they will use different coins for different purposes - no reason why we might not see Monero amongst them - that is, if they can control their rabid fan bois who bring it into disrepute.

Is there even one exchange where you can change FIAT for an altcoin?  In particular are there exchanges where you can change fiat directly to Monero?  Monero needs an equivalent to BitPay, in order to get merchant adoption.  Ways for merchants to easily change the Monero for fiat, and easy ways for users to change fiat to Monero is missing.  

There is little publicity for Monero.  That is a problem too.   In all, none of these criticisms are about the Monero implementations or protocol.  The market treats those that come first to an advantage.  We all hate that, because it means we get the first born but not the best.  If Monero offers no transaction fees like Bitcion did in 2012, applications that are impossible in Bitcoin might become possible and attractive to do in Monero.  

If the price of bitcoin goes up by a factor of ten, the minimal transaction size would go up to 29 cents U.S..   This is way too high for gambling with nickels on the block chain.  

sdp

There is bitsquare, that I'm pretty sure you can trade dollars for XMR, but i don't think there's much volume there yet.

I don't know about monero but I'm sticking to bitcoin for now,because they are the crypto currency to invest at this point of time maybe you can ask the same question after two years and see if you'll get the same answer ..

You gotta chill out dude. You completely missed my point. Try reading it again.



The idea itself is great, but there are other, more viable coins that can possibly replace Monero. It's also not actively traded in exchanges as far as I can see.

I'd say Monero is now defunct and dead, despite it having an almost $19M market cap and active trading activity. Wait, did evidence just contradict what I said?

Yeah, Monero has a solid chance.

Coinjoin + confidential transactions in Bitcoin will be enough anonymity. Monero will have a harsh time to justify its existence and im holding some XMR myself. It will be thought trying to combat Bitcoin's huge network effect.

In fact all alts will eventually have problems trying to justify their existence.

Can ? or are they ?

From my view i don't see them challenging Bitcoin at all.
Nor do i see this changing in the foreseeable future.

@OP
I think we agree and yeah King Monero - Risto's comment was nonsense and laughable.

I think we would have an indicator of Monero etc were going to seriously challenge BTC.
It has been two years and the vast majority speak with their wallets.. look at the prices.
It seems to me people have provided the answer to the question here already ;)

Bitcoin $700

Monero 25 cents

..nuff said  :D

No because a coin can't become popular based on a privacy feature alone. And the most popular altcoin will simply copy the best anonymity design.

But in answer to the title of this thread, yes an altcoin could challenge Bitcoin:

May we have the name of this dark horse before the race starts?Not easy to bet after race has started  ;)

First come, first served in the ANN section when it happens, as usual. No premine. No "ICO". Market sets the pricing.

Yes but what name will you announce it under etc etc?I will look forward to the unveiling of the "coin behind the curtain" but very hard to keep track of your developments when you change names often but I salute your great work.

Yeah. But like i said, only on a platform like NXT or waves. It will never be used mainstream (even nefarious mainstream) as a standalone.

Trouble is the bag holders (and the odd dev) are so obnoxious there is a greater chance that another anon coin will be preferred.

KaChing! Thanks iCE, you crafty devil, you.

Not in a million years.

Somebody said 2 montbs ago that Bitcoin is 700$ and Monero 25¢. That was a proof.

Now Bitcoin is down to 577$ and Monero 4$.


My conclusion is: everything is possible on the long run.

lol, now monero's market cap is larger than nxt and waves. I think you 2's faces are painful.

The only place where Monero will challenge (and potentially overthrow) Bitcoin is the darknet markets. I think it will become the go-to currency for that due to it's privacy advantages.
Bitcoin is very well established and still, not many people know it. Monero on the other hand, practically nobody knows about it. If at some point the world "awakens" to the crypto-currencies. Monero will most likely be known as the shady currency used to buy drugs, this is happening with Bitcoin aswell to some degree.

I can see something happening where XMR will be in the running to replace bitcoin. The people in the cryptosphere have always been looking for a new coin they can support. Why? Because for some people bitcoin is trying to be what it should not be. It is trying to be in the mainstream and in the process it has been corrupted by the people who want to take it there. Do you think those people really care about bitcoin? Do you think the Winklevoss twins are in it because they want to change the world and disrupt banks? No they are there for the money.

 

No Altcoin or crypto can even come closer to bitcoin.Bitcoin has larger user base and widely accepted cryptocurruncy.Other coins can only follow bitcoin and never beat it in price

never say never.
i dont think it will be monero but never say never.
my space had larger userbase and more followers/ funds, where did that get them? that is example of many first come fails.
we can all be early adopters if there is a bigger and better come around.

Marketing effort? I mean maybe people who are just invested in it and want to get the word out, but make no mistake in thinking that the devs are doing this marketing effort... actually they recommend you not investing in it.

This is a new frontier in the world of cryptocurrencies and Monero is on that front end... so invest accordingly to how you want to hedge your funds

Maybe so with the Winklevoss twins, but there are some people who are kind of in it for both of those reasons... think about it, they wouldn't have been one of the first adopters of Bitcoin if they didn't have some fundamental belief in what Bitcoin can do.

Example A) Look at someone like Roger Ver, he is a rich guy, yeah I get that; but he is going around to all sorts of places spreading the word of crypto currencies and, to me atleast, seems to be genuinely in it for the currency itself and thinks that it will change the world. 

The first people to have found out about Bitcoin and invested in it all had the same sort of ideological beliefs... now those beliefs are starting to get a little hazy and less defined.

lol... xmr, eth, dash or any other crypto have a usd/eur pair too. btc is just the main one.

Yes. There are some believers who want to take cryptocoins to another level and take it to the mainstream. But as I said some of those believers are willing to take too much risk just to see BTC get there quick. One example is the support of some of the believers for Gavin's XT. This is a major step with risks. The Ethereum fork is a good example of how a hard fork can go wrong.

I have lost faith and confidence with Roger Ver as a believer because it was looking like he sacrificed his idealism by supporting a version that he thinks would take it mainstream even though there repercussions. Now he is joining the bandwagon with XMR. Why? Because there is a good possibility he bought XMR at low prices. He is in it to make money and it is showing now.

i would say yes, because DNM is a big market. So in real world i cant see monero being used but for DNM xmr can definitely challenge bitcoin and maybe even become the most used there.

Actually that is NOT a surprise move by Roger Ver.  Ever been to Roger Ver's website?  Long ago he used to list everything he supported and he included a bunch of alternates, including Ripple and others (I think he also endorsed AppleBytes at one time?), but when they did not rise then he quietly dissociated himself.

Roger Ver has a very evangelical / populist personality but he doesn't seem to be loyal to anything other than "blockchain" in general, and his prior support of Ripple (which is hardly blockchain) puts that into doubt.

I really doubt it because bitcoin is something else entirely while other coins are here for quick bucks.
Yes if they act like bitcoin and be like it surely they can even replace it but not any time soon as it appears with greedy investors.

Coins like Monero won't be able to challenge Bitcoin, unless maybe they have the same scale of adoption/price as with Bitcoin and that won't be happening anytime soon ;D.

Well we dont know that if it will happen or not in the future.. there still possibility in the future we are not fortune teller to know what will happen in the future.

Monero is doing well in the market now , it is in the 5th place in coinmarketcap , but I think this increase won't last long , look  at ETC and steemit , they increased rapidly and then they fell down rapidly , I see it just manipulation in the market and I will not think to buy Monero .

Yes. He is not loyal to anything other than the things that will make him money. He does not care about the "blockchain" or any form of disruption or maybe even changing the world for the better. But he likes to make it look like that he is. If you say the it is not a surprise move from Roger Ver then I would assume that the inner circles of the bitcoin elite and the who's who of crypto know what his real agenda is.

It depends on the mass adoption of the Mnoero as a currency not just a speculation tool. If more people use it as a currency, the price will rise.

Yes, Monero can challenge Bitcoin.
And i am selling monero.org (http://monero.org) domain here:

https://bitcointalk.org/index.php?topic=1608865
https://bitcointalk.org/index.php?topic=1608893.0