Are privacy coins destined to failure?

[pawanjain]

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

[RokokGudangGaram]

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

This indeed true. People are different when it comes to their preferences even towards this thing, and considering that the number of cryptocurrency users are not yet that significant to even impact the growth of privacy coins, I also think that this coin is meant to fail. It would be just a matter of more people adopting the use of privacy coins and its development as a currency.

[electronicash]

privacy coins still are alive and traded. even the GRIN coin is still in my wallet for more than2 years already, not sure if i can even profit from it but i'm keeping it.

there is a growing privacy project that is also dedicated to privacy named NYM project which they innovate what the TOR does and juggle the hops of TOR to make it more untraceable. Nym is in Binance Incubator program. maybe this will interest you to buy the NYM token too. https://nymtech.net/

[tsaroz]

We can't claim privacy coins a failure just because they are not increasing in price in the same ratio as bitcoin. Most of the coins are much lower than their all time high and if you look at the popular privacy coins, they are holding their prices in upper resistance. With the government around the world going hostile against crypto, the necessity of such privacy focused coins are ever increasing. And unlike most of other hyped coins, privacy focused coins are actually being used as a merchant payment.

[eaLiTy]

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

In hindsight your calculation is true and i would like to see people venturing into privacy coins as well and the problem i see is that the authorities will not be happy to see that users are using these privacy based coins. The first option i see coming from the authorities when they regulate the cryptocurrency market is that, they will force the centralized exchanges to delist the privacy coins if they want to be in their legislation.

In short even though we want to see the privacy coins to succeed we might see them regulated and forced off the exchanges.

[pawanjain]

I don't think privacy focused coins are destined to failures. The internet has all kinds of people and so do the crypto community.
There are people who still care about their privacy and so use those coins to maintain their privacy.
As per some reports the % of population using cryptocurrencies is still less than 10% in the world.
So when this number increases the number of people using privacy focused coins will also increase and so privacy coins will keep getting more established in future.

In hindsight your calculation is true and i would like to see people venturing into privacy coins as well and the problem i see is that the authorities will not be happy to see that users are using these privacy based coins. The first option i see coming from the authorities when they regulate the cryptocurrency market is that, they will force the centralized exchanges to delist the privacy coins if they want to be in their legislation.

In short even though we want to see the privacy coins to succeed we might see them regulated and forced off the exchanges.

The people who do care about their privacy and are in need of privacy focused coins will find their way to those coins no matter how strict the regulation is.
Even if Centralized exchanges delist privacy coins then there are still decentralized exchanges which the users can use to buy/sell privacy coins.
Since decentralized exchanges cannot be regulated by the governments more number of people will shift from CEX to DEX.
With the rise of number of people in crypto community the value of decentralized exchanges will grow.

[Abiky]

We can't claim privacy coins a failure just because they are not increasing in price in the same ratio as bitcoin. Most of the coins are much lower than their all time high and if you look at the popular privacy coins, they are holding their prices in upper resistance. With the government around the world going hostile against crypto, the necessity of such privacy focused coins are ever increasing. And unlike most of other hyped coins, privacy focused coins are actually being used as a merchant payment.

Governments are surely behind privacy coins' decline in price. After all, they don't want people using something they can't control or audit. Monero is the leading privacy coin, but it's been struggling to reach new all-time-highs because of government oppression. Centralized exchanges are the ones who dictate the rules of the crypto market, so turning themselves away from Monero will only do more harm than good for the cryptocurrency's mainstream adoption.

At least, Monero will survive because of way it was designed. There are other alternatives to centralized exchanges, so it should only be a matter of time before people embrace them. Decentralized exchanges and peer-to-peer trading are the only options people have to get access to privacy coins. Prices won't soar that much because of reduced public exposure. But I'm fine with that as long as Monero is useful. Just my opinion

[jostorres]

Governments are surely behind privacy coins' decline in price. After all, they don't want people using something they can't control or audit. Monero is the leading privacy coin, but it's been struggling to reach new all-time-highs because of government oppression. Centralized exchanges are the ones who dictate the rules of the crypto market, so turning themselves away from Monero will only do more harm than good for the cryptocurrency's mainstream adoption.

At least, Monero will survive because of way it was designed. There are other alternatives to centralized exchanges, so it should only be a matter of time before people embrace them. Decentralized exchanges and peer-to-peer trading are the only options people have to get access to privacy coins. Prices won't soar that much because of reduced public exposure. But I'm fine with that as long as Monero is useful. Just my opinion

I believe that no privacy coin is big enough to be cared by the government honestly. It is obvious that none of them ever made it to a level where governments would have to intervene, they already dropped all by itself without the need of any external push.

You may consider that this whole process for the past 5 years was due to governments trying to keep it low, and I can't blame you because I do not have any data to back mine up neither just like you do not have any for yours, so we could be either right or wrong and nobody would know which one of us is right. However, I really doubt that any government anywhere in the world would care about a few billion dollars in size, that is nothing compared to what the big ones have.

[Sithara007]

With the national regulatory policy, privacy currency will be paid more and more attention.

Actually yes, I agree with you. Now people don't care about privacy very much, but maybe if crypto becomes more regulated, people will want to use private coins more actively. On the other hand, I am sure that authorities are not in favour of such coins, so they can just ban those exchanges that will offer them, so that people even can't use them.

It is not like the people don't care about privacy anymore. They have become more knowledgeable about how to use Bitcoin anonymously. Unless there is a link to fiat conversion, it is almost impossible to trace the Bitcoin transactions back to you. Most of the users have realized this and those who need anonymity are being careful on this regard. But the downside is that now the users don't really need coins that are specifically designed for anonymous payments, such as Monero, Deep Onion, Veil and Verge.

[RussianEnglishTranslation]

With the national regulatory policy, privacy currency will be paid more and more attention.

Actually yes, I agree with you. Now people don't care about privacy very much, but maybe if crypto becomes more regulated, people will want to use private coins more actively. On the other hand, I am sure that authorities are not in favour of such coins, so they can just ban those exchanges that will offer them, so that people even can't use them.

It is not like the people don't care about privacy anymore. They have become more knowledgeable about how to use Bitcoin anonymously. Unless there is a link to fiat conversion, it is almost impossible to trace the Bitcoin transactions back to you. Most of the users have realized this and those who need anonymity are being careful on this regard. But the downside is that now the users don't really need coins that are specifically designed for anonymous payments, such as Monero, Deep Onion, Veil and Verge.

This is a good point, now that mixers exist for larger cap projects like Bitcoin and Ethereum, there is less of a need for a fully private crypto that only does one thing, privacy. Mixercasino is a good option because it combines a casino with a free mixer. 0xMR is also a good way to play this strategy because it is used to pay for mixing of stablecoins and Ethereum. The only 100% privacy crypto I am buying now is a little Dero but that's because I hear Dollar Vigilante is going to pump it in his next video.

[CryptopreneurBrainboss]

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

They aren't destined to fail just that this isn't their season and other trends are been chase after at the moment therefore privacy coins haven't been given much attention. They did have their share of the market in the past and will be dominating in the near future especially as countries trends to rollout their centralized versions of Bitcoin.

Once those centralise cryptocurrencies backed by the government are rollout and people begin to experience their disadvantages like not having access to their coins or it been frozen then they'll begin to see the usefulness of decentralization and privacy focused coins will be at the center of attention.

The government are fully aware of this scenario playing out as explained above which is why they're strategically using this time to try discouraging anyone from buying into the idea of privacy focused coins and also forcing the exchanges to delist them as when they're not accessable on exchange, people won't be able to purchase them.

[Abiky]

They aren't destined to fail just that this isn't their season and other trends are been chase after at the moment therefore privacy coins haven't been given much attention. They did have their share of the market in the past and will be dominating in the near future especially as countries trends to rollout their centralized versions of Bitcoin.

Once those centralise cryptocurrencies backed by the government are rollout and people begin to experience their disadvantages like not having access to their coins or it been frozen then they'll begin to see the usefulness of decentralization and privacy focused coins will be at the center of attention.

The government are fully aware of this scenario playing out as explained above which is why they're strategically using this time to try discouraging anyone from buying into the idea of privacy focused coins and also forcing the exchanges to delist them as when they're not accessable on exchange, people won't be able to purchase them.

Privacy coins won't be going anywhere. But governments' actions against them, will negatively impact their market prices in the long term. That's the least reason to worry about, since crypto has always been about utility. I guess privacy coins like Monero and BEAM will end up being traded through decentralized exchanges and P2P platforms as all centralized exchanges de-list them in order to keep governments happy. The average person is not tech-savvy enough to understand how decentralized exchanges work so adoption for privacy coins will be at its lowest. I'm fine with that as long as decentralization prevails in the long run. Just my thoughts

[kensaii]

Privacy coin still has its niche market after all this is the internet, always have someone wishing to remain anonymous. Maybe not many like the old days but they're still there, niche after all. I remembered privacy feature used to be the main feature for many new cryptocurrencies before cex become so dominant and then privacy now is a thing of the past.

[imstillthebest]

i remember there was an issue with privacy coins before and that might be one of the reason for thier decline but i can still see some privacy coins on some top exchanges , that means they are still alive and theres still some demand on them .
if your concerned about the hyped , its normal that they arent in hyped now because the hype was on nft and defi but this doesnt mean too much .  i mean old coins are still relevant and defi and nft could dissapear soon and never go back

[Ozero]

I don't think high privacy coins will disappear anytime soon. Other areas of cryptocurrency are rapidly developing now and therefore profit and attention do not work in the field of privacy. It should be recognized that states and their governments will primarily attack cryptocurrencies with a high level of confidentiality. However, this cryptocurrency will always have its supporters and a certain demand. The reasons why people try to use privacy coins can be different and they are not always related to criminal or other negative manifestations. Coins with a high level of confidentiality also have a right to circulate and exist.

[Abiky]

Privacy coin still has its niche market after all this is the internet, always have someone wishing to remain anonymous. Maybe not many like the old days but they're still there, niche after all. I remembered privacy feature used to be the main feature for many new cryptocurrencies before cex become so dominant and then privacy now is a thing of the past.

Gone are the good-old days where new cryptocurrency projects cared about privacy. People now prefer convenience on top of privacy/anonymity and decentralization. KYC/AML greatly defeated the whole purpose of crypto. At least, there are decentralized exchanges and some privacy coins around. Those who actually care about their privacy will resort to cryptocurrency projects with built-in anonymity features. I don't think such projects will fade away into oblivion as long as there are a community backing them every step of the way. Everything is open source, so anyone can build upon existing projects or build a new one from scratch. As long as people is able to enjoy privacy in crypto, there should be nothing to worry about. Just my thoughts

[ivankoh]

In crypto libertarianism, privacy is an important level of support for the community.  This provision does not cover factors that may have influenced the failure of its nature.  Monero, Zcash will still achieve their own level of success.  Even if taproot comes to bitcoin, privacy will become an increasingly important need, related to the maximalism that the community has always enjoyed.  Therefore, I will advocate success for coins with good privacy.

[Baimovic]

I also feel that privacy coins have failed for now a lot of them can't survive even though other coins are having a high increase especially with the arrival of DEFI and NFT which are so crazy this year that they made privacy coins invisible to Crypto lovers so many people are leaving privacy coins for the benefit of DEFI and NFT.

[Koutami]

Its not destined to failure since its has a great purposes. But probably most of privacy coins couldnt well marketed since it will faces many problem from government and another issues.

[RussianEnglishTranslation]

Cryptocurrencies with a transparent blockchain ledger have seen an exponential increase in demand as people join the craze. Coins with smart contract functionalities and Bitcoin are soaring towards new All-time-highs. But the same cannot be said about privacy coins like Monero, Zcash, Grin, Dash, and BEAM. It seems that innovation and mainstream demand for privacy-oriented cryptocurrencies have declined for the past years.

Nowadays, it's all about NFTs and "De-Fi" leaving privacy behind in the dust. If you take a good look at the market, you'll notice that there hasn't been a new privacy coin for quite some time. New coins and tokens are usually built on existing blockchains with a transparent ledger or one from scratch without any privacy features whatsoever. If this keeps up, privacy on crypto might become extinct. The more centralized exchanges de-list privacy coins, the less their public exposure will be. Governments may have succeeded in destroying privacy coins altogether.

Do you think privacy coins are destined to failure? If not, why? Your input will be greatly appreciated. Thanks.

I think you missed the mark on this post. It's not that privacy coins are dead, they are very important to our privacy and the greater crypto ecosystem but there has been a decline in adoption and they have failed to pump as much as DeFi mainly because they do not have smart contract functionality. Any cryptos that cannot be connected to other chains and participate in DeFi are doomed to fail. If you are looking for Privacy coins with smart contract functionality they are:

Incognito chain
Dero
0xMR
Dusk
there are more, feel free to add them...