Huge demand for privacy incoming - Monero (XMR) will likely surge

[barto123]

Unfortunately Bitcoin is not private by default - you need to use the tools - coinjoin, payjoin, lightning, liquid etc (which I'm completely fine with - just being a realist)

XMR is private by default & is the #1 preferred cryptocurrency on darknet markets and transactions per day are trending upwards.

Governments all around the world continue to build & implement more surveillance. CBDC's (central bank digital currencies) are now on the horizon - coming 2023. if they're not stopped they will have complete control.

IMHO, the more they push their surveillance tech, the more the people will push back - XMR is in prime position. dark net market usage will likely skyrocket.

It's market cap is still under $3B - not even 1% of Bitcoin and it's transactions make up roughly 10%

You can't even fathom the FOMO that could come to XMR.

I love Bitcoin but Monero has a place. There's no reason why you shouldn't use it. It's a good supplement to BTC.

Just my 2 sats.

[1714677111]

1714677111

[zasad@]

You are already anonymous if you do not contact centralized services. You need to use programs and services that hide your IP address.
If you are not engaged in criminal activities, then it is enough for you to exchange coins for stablecoins from the main wallet, and then exchange it for cash. In my country, you can withdraw money from an ATM using the QR code.

[Yogee]

The majority of the market for cryptocurrency has changed over the years unfortunately. We pushed for mainstream adoption so we get investors or traders who are used to bank regulations and other centralized financial institutions. I really doubt the demand for privacy coins would be as high as it was back then.

[Hispo]

The majority of the market for cryptocurrency has changed over the years unfortunately. We pushed for mainstream adoption so we get investors or traders who are used to bank regulations and other centralized financial institutions. I really doubt the demand for privacy coins would be as high as it was back then.

Correct. As Bitcoin and altcoins go mainstream and the liquidity and interest increases more people join, people who mostly do not care about privacy and are okey with companies and exchanges asking for KYC.

If we want to talk about privacy, we should not fool ourselves and accept the reality first, so we can improve it. There is a reason why big companies who blatantly spy on us are at the top of Wall Street: people use their services, otherwise they would not be in such powerful position.

Monero still have a long path to go, but I believe still there is room for adoption.

[jrrsparkles]

Bitcoin is decentralized but not completely anonymous while Monero is completely anonymous which turned out to be a bad thing for monero itself because government already pushed most centralized exchanges to delist XMR pairs from their trading platform so the volume will be low. We know that darknet is a huge market than we ever imagine but if I am not wrong there even many wants btc as payment not Monero.

[Johnyz]

Bitcoin is decentralized but not completely anonymous while Monero is completely anonymous which turned out to be a bad thing for monero itself because government already pushed most centralized exchanges to delist XMR pairs from their trading platform so the volume will be low. We know that darknet is a huge market than we ever imagine but if I am not wrong there even many wants btc as payment not Monero.

This will be a challenged for Monero on how they will stay private and decentralized, what will happen if the government required Monero to submit a report? We might see this project to be at bigger risk once the government strengthen their policy when it comes to cryptocurrency. I remember there’s a lot of mixer before but after the government intervention, they started to get out of this market. With Monero, if they will be more careless here a possible worst scenario might happen. We all want being private here but of course the government will not totally allow it.

[jymmy]

Agree...do you know anyplace where it is possible to buy XMR quickly and w/o kyc? I'm having a hard time finding it!

[fzkto]

Yes, you are right. Cryptocurrencies need more anonymity. But it's not just monero that has successes and prospects. We should also not forget that litecoin also introduced a new anonymity protocol, and I think it was done because of the promise of anonymous coins. But as you said, states will fight against such coins. For example XMR or LTC were delisted from some exchanges.

[poodle63]

Just being realistic with the current situation as long as you have been dealing with centralized entities and then using monero to secure your privacy will be useless. The fact that if anon coin already lost its golden momentum since the utility token has been greatly changing the mindset of people in the market. These days people didn't care with their privacy. They need something that bring them more usefulness. Privacy coin would be so useful for the people to people transaction. It will not be so useful when you were also dealing with the centralized entity like exchange site.
The problem is when you wanna try to withdraw your money to your bank and you will always be dealing with centralized entities. Can't you?

[Jackl87]

Unfortunately Bitcoin is not private by default - you need to use the tools - coinjoin, payjoin, lightning, liquid etc (which I'm completely fine with - just being a realist)
I love Bitcoin but Monero has a place. There's no reason why you shouldn't use it. It's a good supplement to BTC.
Just my 2 sats.

I agree that privacy coins will always have a place in the crypto world. I still remember when i first joined the crypto space back in 2017 privacy coins were one of the most important types of crypto projects out there and projects like Monero, Dash and others where all among the top 20 in terms of the marketcap. Nowadays it is different though. In the meantime we have seen a few other hype topics appearing in the crypto space. We now have Defi, NFT's, the Metaverse and play2earn games. From those 4 new topics i think Defi is the most important one and it will always be here to stay but the other 3 could just be temporary trends too. Once the focus is shifting away from those projects privacy coins could come back stronger.

[TravelMug]

As much as we want to be anonymous and used Monero,  I don't think there will be high demand because

a. The government is after privacy coins right now, there are even bounties to break Monero if my memory serves me right
b. Exchanges are delisting it because of the pressures of government and regulator around the world

So it's only p2p that you can used it and trade if you want to exchange it to fiat and that could pose a problem as well.

[jymmy]

XMR actually performed quite well during the latest huge drop of btc.

[mindrust]

Without the support from the exchanges, even if there was huge demand for xmr, people will a hard time to get their coins.

The exchanges don’t really like xmr and there only a handful of them list this coin. They still list it because the demand is still low I think. When people want XMR the remaining exchanges that still list XMR will see the growing demand and start delisting xmr.

Long story short, tptb won’t let xmr to take over.