Could Monero replace Bitcoin soon?

[Divinespark]

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

[1714219364]

1714219364

[generalizethis]

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

  --Thanks! Haven't heard that argument Ripple through the privacy community for awhile.

[Blitzboy]

Monero is not so well know coin but this is one of the oldest coin.. and there is still have a potencial to grow.. many people are still adopting monero.
But it can not possible that monero can replace bitcoin..

[stealth923]

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

It will never come close to replacing btc as it cannot support economic/commercial financial models or mainstream adoption.

[dinofelis]

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

This is (unfortunately) what most people think, and for the moment, traceable coins seem to work as if they were still relatively private and fungible, although they aren't.   Many people think that anonymous coins are only to buy drugs, weapons and evade taxes.  Although that is of course part of it, the real deal is that with traceable coins, your bank account is on a web site visible to anyone who bothers to do some simple research.

Imagine, if bitcoin becomes generalized, that you get paid in bitcoin, and that your colleagues can see what you do with your paycheck (as they get paid by the same employer, it is not difficult to find out your paycheck from that same employer, right...).  Then people will want privacy.

For the moment, bitcoin is essentially a trader's toy where nobody cares much about who owns what, except in the case of theft.  Probably black markets are leaving bitcoin because they start to get aware that they leave traces for ever (if not, they will soon find out).  But when people will want to use bitcoin every day, they will start to realize its huge lack of privacy when uncomfortable analysis will be done on it.

Once coins will become coloured, and you get regularly to explain at the police station where you got your money from because it is traced back to a drugs dealer caught 5 years ago, and you got some of it through a mixer when you sold some stuff on a flea market, you'll start to get the picture.  When each time you try to buy something with bitcoin in a supermarket, you are taken apart to explain a few things on how you got certain coins, will start quickly to become nerve-wrecking.

[ArticMine]

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

It will never come close to replacing btc as it cannot support economic/commercial financial models or mainstream adoption.

This is not entirely true. Monero also has an adaptive blocksize limit that avoids the 1 MB blocksize limit in Bitcoin. The 1 MB blocksize limit in Bitcoin has led to stagnation in Bitcoin for well over 2 1/2 years.

One the anonymity / privacy / fungibility side the key may turn out to be fungibility. The test will come one is told that one's Bitcoins are no good because some proprietary algorithm alleges that those particular Bitcoins were used in an illegal transaction 10 transactions ago.

[myferrari]

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

[generalizethis]

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

It's not a few lines of stack commands--the market has too many variables for an orderly progression of events.

[DaveyJones]

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

It will never come close to replacing btc as it cannot support economic/commercial financial models or mainstream adoption.

Small portion of market will be now... but once everyone and their mother knows EVERY FKN Transaction is saved for all eternety things will shift... i don´t see people stating their bank account in the public too...

[J1mb0]

Monero's sole value proposition is privacy, whilst important, is such a small portion of the market. Most people will only need to use this once in a while and for particular services.

It will never come close to replacing btc as it cannot support economic/commercial financial models or mainstream adoption.

Small portion of market will be now... but once everyone and their mother knows EVERY FKN Transaction is saved for all eternety things will shift... i don´t see people stating their bank account in the public too...

I agree. The game changer will be something like WAVES or Ardor (NXT2.0) - when these get established everyone will use one of a few anonymous cryptos for various reasons mentioned earlier. Some coins will be used as a store of wealth (POS), some coins will be used for small or regular transactions (fast update and scaling blocks) and some, for moving all this around will be anonymous. It's likely Monero will be one of these.

[Denker]

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

Ethereum is useless and definitely will not replace Bitcoin.
They won't even come close to achieve that after their bailout hardfork.
Monero also will have no chance to reach that.But XMR could find it's niche and prosper.In terms of anonymity there is imo no better coin at the moment.
In terms of trading I think the time for shorting it is coming.

[helloeverybody]

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

Ethereum is useless and definitely will not replace Bitcoin.
They won't even come close to achieve that after their bailout hardfork.
Monero also will have no chance to reach that.But XMR could find it's niche and prosper.In terms of anonymity there is imo no better coin at the moment.
In terms of trading I think the time for shorting it is coming.

Why do so many people seem to think that ethereum is competition for bitcoin. Ethereum can never expect to reach the kind of values bitcoin is currently at because it wasnt designed to. Yes its a good platform and has advantages over bitcoin in other areas but ethereum is not designed to gain value in the same way that bitcoin is.

[BitHodler]

Can't be soon, it is still no.10 market cap coin. Eth should be next "possible" to replace bitcoin, but the market cap is still 10% of bitcoin, won't happen in 5 years.

Ethereum is useless and definitely will not replace Bitcoin.
They won't even come close to achieve that after their bailout hardfork.
Monero also will have no chance to reach that.But XMR could find it's niche and prosper.In terms of anonymity there is imo no better coin at the moment.
In terms of trading I think the time for shorting it is coming.

Why do so many people seem to think that ethereum is competition for bitcoin. Ethereum can never expect to reach the kind of values bitcoin is currently at because it wasnt designed to. Yes its a good platform and has advantages over bitcoin in other areas but ethereum is not designed to gain value in the same way that bitcoin is.

Because a lot people just look at how volatile and profitable Ethereum has been compared to Bitcoin in the recent time.

These people are only looking for quick gains and don't look at things from a realistic point of view.

Just look at how many noobs think Bitcoin will replace the USD, banks, governments, and all other nonsense.

[aminorex]

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

  --Thanks! Haven't heard that argument Ripple through the privacy community for awhile.

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

[smooth]

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

  --Thanks! Haven't heard that argument Ripple through the privacy community for awhile.

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

Nothing to worry about. It is very simple cryptography that even a fifth grader can understand, no way anything sinister could possibly be hidden in there. Worrying about the Mossad here is like worrying about some back door in openssl. /s

[solid12345]

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

Ironic you say that since there is many hints Cryptonote is from the Mossad or NSA lol.

[smooth]

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

Ironic you say that since there is many hints Cryptonote is from the Mossad or NSA lol.

Troll on. The only "many hints" was one paid blog post in 2014 that was absolutely crap in terms of sources and substance.

[dinofelis]

I think Z-cash will eat Monero's breakfast, lunch and dinner on the back of pulling in the punters on the back of its impressive cast of investors and engineers. Cannot see Monero being more than a niche alt.

  --Thanks! Haven't heard that argument Ripple through the privacy community for awhile.

It has been pointed out elsewhere that the Mossad is sponsoring ZCash.  If you want to trust your privacy and substance to the transparency, honesty, and restraint of the Mossad, well... I don't even...

I think that the coming publicity of Zcash will have a positive effect on monero and DASH, as it will draw attention to the anonymous aspects (or lack thereof) in most others.    I'm trying to study zcash, I agree with most critics but I haven't understood everything yet.  My opinion for the moment is that Monero is technically vastly superior over DASH, and I think that it remains superior over Zcash, but I haven't wrapped my mind around everything in zcash yet.
My still rather uninformed opinion about zcash is that there are severe cryptographic "taboos" (trusted setup, golden keys for the developers, and most importantly, I think that zcash is not applying anonymity automatically and passively, but that you have to mix "on purpose", making you hence a targeted suspect).  On the other hand, IF one can trust what has to be trusted, then it seems that the anonymity offered by zcash is more absolute as compared to monero.  (but that sounds like an oxymoron: "if you can trust X, then Y is perfectly anonymous...".

[dinofelis]

Ironic you say that since there is many hints Cryptonote is from the Mossad or NSA lol.

In a certain way, the origin of a cryptographic scheme shouldn't matter, as it should contain its own proof that it doesn't contain back doors (as like in using mathematical constants or prime numbers or the like), or at least, so that the mathematical race is open to anyone to discover the back door.
In good cryptography, you should be able to check everything for yourself and not have to rely on the trustworthiness of its designer.  As such, ALL THE NUMBERS in it should have a mathematical foundation, and no random number should appear.  If that is the case, then you know that there are no "undiscoverable" back doors.  There can be back doors still, but they rest on mathematical superiority of the back door designer, not about missing entropy.  Mathematical superiority is not guaranteed to last.  Missing entropy is, as long as the private key is kept by the back door designer.

For instance, it might be that the back door designer uses a special elliptic group of which he has discovered certain math properties which allow him to solve the discrete log problem efficiently.  As such, he can break all of this crypto.  But this mathematical discovery is open to anyone, and just any other mathematician may do the same discovery.  At that point, the back door is available to anyone (and the system is recognized broken), or at least is open to this other mathematician.

However, using a "random number in the code" as a public key, for which only the designer has the corresponding private key, is an entropy advantage that the designer will keep as long as he keeps his key secret.

[TrueAnon]

LOL monero useless coin pump, won't even waste time.

IT WILL dump back down to prior levels in weeks I bet.