Can coins like Monero challenge Bitcoin?

[beastmodeBiscuitGravy]

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?

KaChing! Thanks iCE, you crafty devil, you.

[BTCwriter]

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......?


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

Not only I believe it will go to $1M this year, I have not heard very many good arguments from anyone, what can hinder it  

~CfA~

Not in a million years.

[Mike8]

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.

[cheapcoin]

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.

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.

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

[Emoclaw]

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.

[bbc.reporter]

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.

 

[btvGainer]

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

[titibach]

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.

[chennan]

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/

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

[chennan]

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.

 

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.

[raphma]

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 $1000000 per coin at the end of 2016? Who knows...?


A leader of the Monero community and donator to this forum thought that Bitcoin would go to 1000000 USD/BTC in 2014:

Not only I believe it will go to $1M this year, I have not heard very many good arguments from anyone, what can hinder it 

~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.

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

[bbc.reporter]

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.

 

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.

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.

[raphma]

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.

[BigSirko]

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.

 

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.

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.

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.

[ImHash]

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.

[satmas]

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 .

[Bitcoinsummoner]

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 .

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.

[jack1111]

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 .

[bbc.reporter]

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.

 

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.

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.

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.

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.

[Vaculin]

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 .

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.