Bitcoin Forum

Are privacy coins no more important in today's world? Monero performs fairly good after bull market is almost over but that's that, no one is talking about the usefulness of privacy coins like XMR, Sero, haven protocol, horizen etc is this the end or privacy coins still have a future.

Broadly looking at how cryptocurrenices work today, most people are busy with NFT, DEFI, and established meme coins like Doge. But that doesn't indicate privacy coin lose its purpose and usefulness. It's just how the majority of the regular user is more into those things, currently.

But the fact that Monero has been long established and battle-tested, which makes it unbreakable[1], the usefulness is still there. And I don't see why would Monero doesn't have any future.

[1] https://decrypt.co/41411/the-irs-is-offering-you-625000-to-crack-monero

This however is basically nothing but the crystal truth. What the vast majority these days are longing for are projects that could get them rich like GetRichQuickScheme as we do call it. These memes and NFT fit into that category.

Besides i'm not in anyway calling these projects scam but literally what I'm trying to say is that project like Shiba, Floki and them NFT can make you a millionaire in a blink of an eyes.

Privacy coins are still important, you can confirm that by checking the 24 hours trading volume of Monero and Zcash.

We are however in a different stage of crypto adoption hence it is no longer trending. Cryptocurrency at a time is solely focused on privacy between peer-to-peer transactions but today it is being integrated into almost every faucets of our lives. People are now required to pay taxes on their profits from trading in some countries.

Many things make monero work better for now, the bull market is almost at its last level and has reached at its best value for monero, and why for other coins it is not talked about the same as monero, because it doesn't have the same level of development as the coin, for the problem have a future or not it really depends on how they react to the future

It's because government around the world are trying to undermined this privacy coins.

IRS even offered to $625,000 to crack Monero in 2020.

https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightning

And then exchanges delisting privacy coins, and that's why up to this day, no one of this so called privacy coins are getting much attention.

Privacy coins still does it's job even if many people are focused on defi, nft and other trending stuff. I'm sure that there are still those who use privacy coins even if they are focus on nft for example when they wanted to make it more private from other people if ever they earn or wanted to transfer an amount. Government doesn't want privacy coins as most governments wanted to earn a profit from crypto even though government can't take full control of crypto.

For me the whole crypto space is going in hype cycles most of the time. There are always current trends and hypes that are dominating the crypto market and the media for a certain amount of time until the hype slows down back to a normal level. At the moment everything is still talking about Defi and it's many applications and use cases and also NFT's. Defi is a special topic though as i don't think that it is just a current hype that will go away again, i am sure that Defi will be a very important part of the crypto space for the future. Privacy coins are just not really in the focus of the most people at the moment. Maybe this will change again in the future.

Do you really need to use it or not ?

Privacy is good, but we as the user not always want to used it. It's always depends on the situation, most user only use privacy coin while they're needed. That's mean maybe in one year you can use only a few times or maybe not use at all.

I also have some opinion, people more like it using mixer with regular coin like ETH or other for their privacy transaction.

In my opinion it depends on interests, sometimes Monero is used by people who like to remove traces, such as being paid by a hacker, and fake website makers in the financial sector, although Monero has its own strengths in terms of price, in terms of privacy it is less transparent, to examine the amount that is used. save by someone, the future influence is there, it lies in the interest, in terms of price development I think, take it easy monero, rarely I get profit from monero XMR.

It's no more important today, people prefer to use the service like tornado instead of monero.

Privacy coins just like shit right now except monero. I talk about the reality in the market.  Mostly of privacy coins are going down so hard on its price. People have been throwing the privacy coins as they didn't need it again. This is the end for the privacy coin.
Privacy coin can't follow the trend.

Why smaller privacy coin fail or have worse performance than Monero? Because they are forks of Monero and internally their teams have less capability to develop their projects as same as Monero, if don't want to call better than Monero.

Forks are usually worse than original coins.

So do you call Bitcoin is failed because it does not follow the trend of Smart contract, ICO, IDO, IEO, DeFi, NFT, etc.?
Many Bitcoin forks are dead. How Many Bitcoin Forks Are There? You will be surprised!!! (https://bitcointalk.org/index.php?topic=5221882.0)

Privacy coins we don't talk about often but that doesn't mean they're dead or no longer in use. Nowadays, investors enter the market with the aim of seeking profit, so it's normal for them to follow new trends in the market like defi, nft or metaverse. Monero is still being used for private transactions, I still often use Monero for some personal things when I don't want anyone to know. I don't hold them, I just exchange Monero when I need it.

This is the right answer, governments have always thought of bitcoin as a threat but even bitcoin is not 100% anonymous, however privacy coins actually give you that anonymity which is something unacceptable for governments, so privacy coins have been the ones that have suffered the most scrutiny and persecution by the governments, and when we add that you cannot use them in a lot of places this has created a lack of demand among the average cryptocurrency user, which is why not many people talk about those coins anymore.

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Why are you so sure that privacy coins will be extinct.
Your words are very harsh for privacy coin slaps but I don't believe it that easily because each coin has its own position and has its own value.
Monero coins live because they are used and legalized in their country but that doesn't mean privacy coins will expire.

It has nothing to do with trend. If you have been following new regulations you would know that privacy coins that are build to evade regulations are probably going to kicked out from all cexes. Not because of privacy though per se, but because you can't prove the source of money.

Actually there are aome who liked and prefer privacy coins but they are beated by such hype coins or trending defi projects instead. Look on gmt move to earn feature, Im sure that was a hell of a move or pick but it always boils down to which coin arr gonna gave a lot of multiplier profit. Well xmr is good coin but Im not sure if its worth investing now for a good gains. Maybe for long term it could be.

perhaps they are still common and very useful till this day, but we need to accept the fact that most investors are really interested in hypes in the market because that's the way where they can make good return. Infact to me that's why it's not surprising these privacy coin looks like a second options only in the space because of these new emerging projects as well that always makes hypes in the market, wherein, that can really get more attention of some investors..

privacy coins are still needed in the crypto space, that means they still have a future. maybe it's not very audible right now because everyone is focused on NFT and the Metaverse. but their ecosystem is still quite large and that can be said to be good for now. so there is nothing to worry about privacy coins, they are still needed.

I admit that privacy coins have decreased in popularity, but that doesn't mean they're over. As long as centralized systems are popular, privacy coins will always be needed. because there are still many people who want to be anonymous. so monero, zcash or dash will still be in the crypto market and still have a future.

Privacy coins play an important role in the cryptocurrency world, but think about their value if the global regulator orders all exchanges to delist these coins. These coins will live, but their popularity and trading liquidity will greatly decrease.

Privacy coins I think are security-type coins where their price movements are much slower than utility-type coins, therefore they don't seem to be in demand. as we know cryptocurrencies always prioritize hype, they are more interested in coins that have a high risk but produce large returns, rather than having to secure their data or any security, it is better to get large returns.

Well, it seems that the government is tracking down most of the privacy coins. They don't like it and they don't like censorship and that's why they're putting at risk those exchanges that will be caught to be listing it. And the reason why exchanges are delisting it because of the pressure that they're getting from these authorities. But if it's about privacy coins, if I'll expand my portfolio maybe a little of it will be added to mine but not going to exceed 10%.

I'd say the second most important coin is privacy coin, the first is still Bitcoin. I don't see any other coins is important, they're mostly copy pasting projects and centralized. There's no reason why someone should hold centralized coins and moreover giving their KYC to centralized entity, it's similar like you save your fiat in bank. No one talking about privacy coins because most people doesn't care with privacy, I've seen so many people just giving their KYC for $5-$10. Also many governments and exchanges are against privacy coins, some exchanges even blacklist privacy coins.

Sad but true.
The trend is not about privacy anymore and it's more on dogs, NFT, DeFi, Web3, etc... It's difficult to go back where Monero was being discussed left and right. Let's just say the file is buried but it's still there. But who knows, maybe somewhere in the future a billionaire will clean up dust and pull that file again and make it surface to this new world of cryptocurrencies.

Yeah, gone are the days that crypto enthusiast are more on the privacy than regulation. But I guess that is the part of the world we live in right now. It is evolving, what remains constant is change so as much as we hate it, those privacy coins are not going to be patronage by crypto investors because their investments are not going to yield big profits as compare to the current hype.

The privacy coin hype is over due to too much intervention from the government. and maybe this is the fate of all privacy coins today. Even so, there is always hope for these coins, so there is no need to worry about the future of privacy coins. the need for privacy coins is still quite high, so this is one big reason why privacy coins like monero, or dash are still surviving.

Have to agree. Regulation is coming to the space big time. They will be especially interested in the privacy coins.

Private coins have a good future, especially time-tested coins such as ZEC or XMR. There is increasing scrutiny of cryptocurrencies around the world because many countries are starting to accept it. Tax reports, wallet verification, banks, CBDC all affect the anonymity and privacy of your money. And only private coins will prevent anyone from getting into your life and keeping an eye on your funds.

Yes, privacy coin is not popular as other coins but they quite useful for some people.
As long as the privacy coins have real use case, they won't be gone in the future.
We can look at the mining hash rate of privacy coin such as Monero, it has a good hash rate, meaning the value of the coin is still profiting for miners

Coin privacy I think belongs to the type of security coin that has a long movement in its trading. I think this coin is very rarely developed, even old coins like XMR are starting to fade, as if they don't have much community support anymore. The cryptocurrency community seems to be more interested in utility-type coins because they are more usable to create an ecosystem, and they hype up faster than security-type coins.

I invest in Monero last 2-3 months ago as I have noticed that Monero's price doesn't affect that much by the price of the Bitcoin and currently I am up but I think by 60%? Only few people talks about the privacy coin but I think they are good coins with purpose and they are also a good investment too, I currently saving as much Monero as possible.

Why did some people keep believe if privacy coin will become a major trend again? If privacy coins were good and it doesn't make sense the privacy coins can't sustain for long term. That reminds me with the coin like veil, grin or something else. You need only one privacy coin and monero was  enough to cover all of your need once you need untraceable transaction and why do we need so many privacy coins? Monero has proven itself to be the most worth privacy coin and another coin was only offering gimmick.
Time flies so fast and privacy coin dead except zcash and monero. Zcash was also still peg with its cooperation with big coin like ether

The current trend of cryptocurrency is institutional adoption and privacy coins are at a disadvantage in this.  Most institutions comply with AML so they prefer non-privacy cryptocurrency to avoid problems with the government.

Privacy coins still have their market especially in the sector where a transaction needs to be made anonymously.  I don't think it is the end for the privacy coins but I think they will be used mainly on the black market.

And that is the ground idea of what most developers built those projects. People have a narrow point of view that they didn't consider how many people lost their funds playing around with NFT, and meme Coin. It fits most people that haven't been unaware of cryptocurrencies before. For example, this thread[1] shows Shiba's popularity compared to others. People will use cryptocurrencies that spark their curiosity and interest them the most.

But technically, the privacy coin won't lose it meaning, there is valuable concept within it.

[1] https://bitcointalk.org/index.php?topic=5396585.0

Privacy coins are getting lesser attention because new generation barely recognizes the privacy and doesn't care about it as much as we do. The age we live in right now is literally giving away your data yourself. All those posts, messages, photos, videos and everything, people thrive on being out in the open and not being hidden.

Obviously, there are still some who like it, like me, but that doesn't mean that it is the general population anymore, even the elderly share everything online and that usually ends up being their daily life. This is why there is really nothing that we should be hyped about a privacy coin when there is no more privacy in our lives.

To stay in crypto is not the main problem because of popularity, there are still many coin developments that do not generate returns but are still able to survive in crypto, all coins that are considered no longer popular still have the possibility to strengthen, as long as development is carried out as needed, this can we'll see, how certain coins can react in the market, according to the current moment or hype, but not all coins also experience the same opportunity as that