How much privacy coins are really needed?

[Fiord]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

[NeuroticFish]

I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

Well, there's Bitcoin and Ethereum, where we have modern era's gold rush and we have more and more services, these coins don't even need advertising since people know what they are, then there's the rest of the crypto world.
It's not about "the need of privacy" here, there's only a tiny fraction of that which makes the difference. Most people didn't even hear of those coins. Or they are scared to use them, since they don't want to be associated with "dark web coins" (although people should care about privacy even on honest transactions).

So imho unfortunately the table tells only a tiny part of the story and it's far from conclusive on what people need.

[TomiJerry]

I think that in the foreground it is the ease of use and functionality of the coin. Privacy is not necessary for ordinary people, often privacy only hinders the conduct of ordinary payments. Monero most popular among hackers.

[berezov_petro]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

Many people really do not use anonymous cryptocurrencies, because they do not need it right now. But sooner or later everyone wants to be anonymous and then they move on Zcash or Monero. I think that these two coins will grow in the future.

[liangweicha]

I've always felt that investing in anonymous tokens is a risky business.
Because anonymous tokens can now face many problems, such as policy factors.

[BitcoinHodler]

your comparison is flawed because you are not analyzing the numbers themselves and just comparing the raw data to each other.

we have bitcoin which has been the cryptocurrency that people know as a cryptocurrency and it also is considered an alternative investment to gold, stocks,... and also is acting as a currency.
then we have ethereum which has no real usage apart from ICOs and of course the speculators. so the number of transactions on it is higher because of all these ICOs. it is not handling real monetary transfer in a sense than a currency does.

so when you are comparing an anon coin like Monero with these two you are comparing it with the most famous thing out there (bitcoin) and ethereum. and these anon coins having that many transactions is still a big deal if you ask me.

[dogtana]

I've always felt that investing in anonymous tokens is a risky business.
Because anonymous tokens can now face many problems, such as policy factors.

Exactly. Coincheck is already banning 4 of them. This is why I am glad ETN is reducing privacy. Good move.

[Fiord]

They're used a lot on the dark web. A lot of bitcoins transactions is just people trading, not actually using it.

Perhaps people use privasy coins in most cases for something illegal, and otherwise use Bitcoin and Ethereum, since they are more common and familiar.

I've always felt that investing in anonymous tokens is a risky business.
Because anonymous tokens can now face many problems, such as policy factors.

Exactly. Coincheck is already banning 4 of them. This is why I am glad ETN is reducing privacy. Good move.

I have herd thet ETH will implement zk-SNARKs for anonymous transactions, I guess it may be positiv end negativ thing for Ethereum in the same time

[ivanleon]

This is a paradox, even in DarkNet is very popular Bitcoin, where open transactions. People would rather drive it through the separators than would be to use an anonymous cryptocurrency. Just not popular yet Monero and zcash for, I think soon everything can change.

[Fatunad]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

This table doesnt really signify how coin is being used either on privacy matter or just on a typical transaction for a particular day.Lets say ETH do lead up on transaction volume but it doesnt mean that hes one of the best used when it comes to anonymity whereas theres no basis that people do make use of ETH do have that purpose.This is why i do really see this data to be valid because this is just simply showing on transaction volume and not really on how people do like anonymity or any other things attached to it.

[vladuch1]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

So now people really use little privacy coins, because they have enough and popular cryptocurrencies. Private currencies are used by those who trade in a dark net. But it seems to me that over time these privacy coins will use more and more.

[CryptoAlphaStar]

How much privacy coins are needed? Just one. But we don't have a winner yet and many are trying to do the best job.
How much social media sites do we need? One, if it has all the best features.
How much search engines? Again, one.

There will probably be some niche use cases that some other coins can grab a market share.

[StevenPop]

Not a lot and definitely not as many as we have now in the market but since a single coin is still yet to prove to everyone that they are superior to all of the other privacy coins that are in circulation right now, then we will keep having a lot of privacy coins and more will still be pushed into the market

[StevenPop]

Not a lot and definitely not as many as we have now in the market but since a single coin is still yet to prove to everyone that they are superior to all of the other privacy coins that are in circulation right now, then we will keep having a lot of privacy coins and more will still be pushed into the market

[yura888]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

Simply there is no regulation in the crypt-currency market, so there is no particular difference in which currency to send funds.It is convenient for Ethereum everyone, because it is very easy to use. But when countries am regulating then many will go to anonymous currencies. 100%

[milewilda]

How much privacy coins are needed? Just one. But we don't have a winner yet and many are trying to do the best job.
How much social media sites do we need? One, if it has all the best features.
How much search engines? Again, one.

There will probably be some niche use cases that some other coins can grab a market share.

We just really need one but we cant really stop those project owners would make the same niche and as you said they would like to get a market share which it turns out that its too redundant to have multiple projects with have similar idea which is the same on where are talking here on op where there are lots of privacy coins and each one of them do keep on trying to resolve each ones flaws this is why we do keep seeing new things.On percentage i dont see those people who use up eth is on having that kind of privacy reason.

[SavageBrother]

Only a few good ones are needed and it is not like we need 20 privacy coins. Take care about which ones you invest in, XMR seems a good one.

[poodle63]

I made a table:



I thought that one of essential parts of crypto is privacy but it appears that people do not appreciate privacy as much as it seems, if you take all the transactions of Monero, Zcash, Bitcoin and Ethereum for 100%, then only 1.32% falls on Monero and Zcash, what is your thoughts on this?

Basically crypto has already pseudonymous. And it's not 100% need the privacy coin. As you can see the privacy coin has used by someone that is trying to make his transaction to be untracable.
More privacy coin will be useless becaue even the major privacy coin doesn't have a lot of demand on the real usage of its [rivacy feature.

[StickySteeez]

Well we need a few, and as far as I can see, XMR, or Monero, is the best privacy coin out there. A solid investment. Good luck and take care.

[rayk]

This coin is nonsense, then there should be less than even 50 coins in the market, if we always have to choose one over other similar coin, then bitcoin needs to disappear from the market as well.