Why is Monero so unpopular?

[Miles2006]

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

[1714762425]

1714762425

[1714762425]

1714762425

[Troytech]

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

I dont think monero is so unpopular than it shoukd be, monero is still very early as an altcoin and it offers a superb privacy that even bitcoin couldn't give, monero would olny be of interest to those that needs its service in a way or two and that should be amongst people that already know about crypto in a way or two, so expecting to hear about monero from new users or peole ealry in crypto or on major crypto news would not be a realistic thing, and besides most new investors come in because of wanging to make profits and right now monero is not that coin and shouldn't be cause if it enters the spot light and government gains attention to it, could lead to its downfall like the silk road market place that offers quite the anonymity like monero.

Privacy is a necessary feature in my opinion, but why hasn't Monero become a main coin?

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

You have well explained it even better than i did, its not as tho monero is unpopular but not every one is interested in privacy and even if in the crypto world privacy seems to be one of the things that they ought to achieve people are not just interested in that right now, at least not those that are more interested in gain than any other thing, so yeah a lot of people mightvknow and use monero but they use it for the purpose that it was created privacy.

[devil-soul]

Monero is an excellent altcoin that prefers privacy but is not well regarded because it is mistakenly thought that it is associated with illegal activities such as trading currency on the dark web, instead it is used by all those for whom privacy has a high value and they consider it a fundamental principle

[Abiky]

Not all investors will value the term privacy when dealing with crypto as the purpose of creating monero is to promote anonymity, investors still go for coins with higher profit and zero privacy as seen in most cases, Monero is also preferable by most people who value their privacy. I think the choice depends on every investor and this is not just a forceful opinion to hold Monero but rather it has to do choice, I still think the reason why most people don't value Monero is due to the private nature.

Of course. Investors wouldn't want to buy something that isn't regulatory-compliant. They want something that's seen with good eyes by the government to ensure their investment lasts a long time. I'd say governments have successfully destroyed privacy coins' reputation by labeling them as tools used for criminal activities (money laundering, tax evasion, terrorist financing). The public is now skeptical of getting into something that's used by wrongdoers. We all know that's not really the case, especially when Fiat is still the #1 tool for criminals (due to its ease of use and greater accessibility). But the harm is already done, with Monero and similar coins losing popularity each day.

It's likely all CEXs will cease trading of privacy coins (XMR included) in the future. Fortunately, people can use alternative methods to continue buying/selling privacy coins. You can thank their decentralized and censorship-resistant design for that. Considering that Monero is the biggest and most successful privacy coin in the world, I'm certain it will survive for generations. No matter the price of XMR, we should be thankful for having a means to achieve privacy and financial freedom. Who needs "Wall Street", anyways?

[jwinterm]

This should be coming to mainnet within the next few months I believe:
https://serai.exchange/

Serai is a new DEX, built from the ground up, initially planning on listing Bitcoin, Ethereum, DAI, and Monero, offering a liquidity-pool-based trading experience. Funds are stored in an economically secured threshold-multisig wallet.

Also, haveno is supposed to finally go live in a week or so I think:
https://haveno.exchange/

Haveno will be a non-custodial, decentralized exchange for crypto and fiat currencies built on Tor and Monero.

It's a fork of bisq that uses XMR as the base pair.

[Sophokles]

Monero is an excellent altcoin that prefers privacy but is not well regarded because it is mistakenly thought that it is associated with illegal activities such as trading currency on the dark web, instead it is used by all those for whom privacy has a high value and they consider it a fundamental principle

That is not a mistake about monero. Hackers use it to collect ransome from their victime because of its privacy. Monero has a large community and there are a lot of users that using monero. The only reason i am seeing monero is not used by whales is due to its regulatory uncertainty. We don't know yet how the government is going to regulate monero and there are even rumors that they are going to ban it.

[noqqx265]

Privacy coins like Monero are easy to be used for money laundering, and there are indeed regulatory risks, which may have performed well in the previous bull runs, but for the current cryptocurrency market, compliance comes first.

[Abiky]

Privacy coins like Monero are easy to be used for money laundering, and there are indeed regulatory risks, which may have performed well in the previous bull runs, but for the current cryptocurrency market, compliance comes first.

With constant exchange de-listings and volatile market prices, I doubt criminals would want to use XMR for money laundering and tax evasion. They're better off with traditional Fiat. If there's something we could blame for Monero's unpopularity, that would be the government. It has spread false propaganda, making people believe Monero is only the "criminal's coin". They're afraid of getting into it because governments will eventually tag them as a criminal. Or it would render suspicions when using it for day-to-day payments.

Now I've read there will be KYC-compliant privacy protocols and DEXs. That would totally defeat the purpose of privacy/anonymity. Wasn't it always about protecting ourselves against government surveillance? Businesses won't have any issues with KYC-compliant privacy, other than individuals themselves. At least, those who actually care about their privacy. ETH privacy protocol dubbed "Privacy Pools" is one of those KYC-compliant privacy solutions. The question is: Will Monero be able to withstand strong regulatory pressure? Or will it eventually "please" the regulators? It's an uncertain world we've living into, so expect the worst.