Why is Monero so unpopular?

[Xal0lex]

So true privacy advocates will never use monero in centralized services, only decentralized p2p and instant exchanges. This is the natural habitat for coins like monero, and centralized services use this coin only for speculation, completely ignoring the private functions of this coin.

Only a small number of people actually care about their privacy. That's one of the many reasons why Monero isn't a popular cryptocurrency these days. When you use a CEX to buy/sell XMR, you defeat its original purpose (which is to preserve privacy/anonymity). It's highly-recommended to use a DEX or P2P trading platform to get all of the benefits. Monero may never overcome Bitcoin, but it will always be a viable alternative for those who need it the most.

Again I agree with you, privacy has always been of interest to a small portion of people who are obsessed with protecting their privacy. Such people will never use centralized exchanges, they will go to make Monero exchanges in decentralized P2P exchanges. I don't remember exactly, but I think I've seen some p2p exchanges that work only with Monero and they are still recommended by all those who value their privacy.

[suzanne5223]

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

I don't understand what you mean by Monero being the main coin because there's no crypto currency that has the potential to dethrone Bitcoin.  
Having said that,  Monero is not the only potential altcoin that's not popular,  we also have CRP and UUSD which are doing well in terms of privacy service but in my research, I later understand that only a few crypto enthusiasts pay much attention to privacy coin market until they have privacy issue.  

Another reason is that people don't really look for privacy instead, they are looking to which coin would give them profit, and Monero, sadly not pass their interest. But aside from that, we can say that Monero is not really convincing look to the community because though it has a use case, this won't be enough to attract investors and users as they still choose where they can earn more even though it will compromise their privacy.

I believe the reason why most privacy cryptocurrency seems to be unpopular is one of the things you stated because 90% of all crypto investors are only after profit and that's why we see them chasing meme coin despite the previous market manipulation that was done by the major market player through it. Another reason I consider to be the reason why privacy is unpopular is that some investors believe privacy is all about illicit activities and if they are into one there's a need to use or invest in the privacy coin.

[Abiky]

Again I agree with you, privacy has always been of interest to a small portion of people who are obsessed with protecting their privacy. Such people will never use centralized exchanges, they will go to make Monero exchanges in decentralized P2P exchanges. I don't remember exactly, but I think I've seen some p2p exchanges that work only with Monero and they are still recommended by all those who value their privacy.

I believe Bisq and AgoraDesk/Local Monero are the best P2P exchanges where you can buy/sell XMR without KYC. Unless there isn't any government overreach, these exchanges will continue to operate as usual. Developers of Bisq better remain anonymous and hidden from the public if they want to avoid facing government prosecution. As for AgoraDesk/Local Monero, it's easy enough to take them down by restricting people from accessing the domain (they're hosted on centralized servers, after all). Same goes with Hodl Hodl and any other P2P exchange without a software client.

I've read somewhere that it was possible to do atomic swaps with Monero. You'd just send BTC to the network, and receive XMR in return. All without middleman and KYC-free. Who knows how much XMR will be worth in the future? Just my thoughts

[MURONDI]

Monero's relative lack of popularity might be attributed to its focus on privacy and anonymity, which can sometimes raise concerns about potential misuse. Additionally, its private nature has made it harder for regulators to track, which has led to scrutiny in some regions. These factors, along with the fact that it's not as widely supported on exchanges and platforms as more mainstream cryptocurrencies, could contribute to its lower popularity compared to others like Bitcoin or Ethereum.

[|MINER|]

In fact, many things of cryptocurrency depend on Fud and hype. When negative hype is created on a coin, then a kind of FUD is created in the public and because of this, the price of that coin also decreases. Also, I think Monero has been delisted by many centralized exchanges, creating FUD within people and making people afraid to invest in it, and that's basically why Monero's reputation is going down.

[danherbias07]

In simple terms, because it's an Altcoin.
The competition in that area is way broader than what it is with Bitcoin. Some investors would say they would rather pick Bitcoin than go through another Altcoin like Monero.
And then another investor would say, if I am picking an altcoin then I'd rather be with Ethereum or BNB. That is the problem.
When all this altcoin came out from the ICO, investors became divided in their beliefs. Some would like privacy but others would like a fast profit scheme while most ended up in a scam or a rug pull.
We all have a different idea of where we put our money. But I don't think privacy is as sweet as other promises especially if it's a short-term profit scheme.

[Blitzboy]

In simple terms, because it's an Altcoin.
The competition in that area is way broader than what it is with Bitcoin. Some investors would say they would rather pick Bitcoin than go through another Altcoin like Monero.
And then another investor would say, if I am picking an altcoin then I'd rather be with Ethereum or BNB. That is the problem.
When all this altcoin came out from the ICO, investors became divided in their beliefs. Some would like privacy but others would like a fast profit scheme while most ended up in a scam or a rug pull.
We all have a different idea of where we put our money. But I don't think privacy is as sweet as other promises especially if it's a short-term profit scheme.

In essence, Monero supports privacy, which is getting harder to come by. However, isn't privacy a fundamental right? You say that privacy doesn't have the same attractiveness as other promises. Although Ethereum, BNB, and similar coins may be receiving more attention, does this render Monero's value proposition invalid? Without a doubt. You mention ICO fraud and rug pulls, which were tragic occurrences in the cryptocurrency world, but this is an apples to oranges comparison.

And certainly, Monero may have some difficulties because it's more difficult to use and has a smaller community. However, it provides complete privacy, which no other system does. Something may be difficult, but that doesn't mean it has no value. Every coin has its space , and every investor has their own approach. Try to avoid the pitfalls of oversimplification and poor judgment, though. Concerning where you invest your money? That is all up to you. But dismissing Monero based on broad assumptions?

[Abiky]

In simple terms, because it's an Altcoin.
The competition in that area is way broader than what it is with Bitcoin. Some investors would say they would rather pick Bitcoin than go through another Altcoin like Monero.
And then another investor would say, if I am picking an altcoin then I'd rather be with Ethereum or BNB. That is the problem.
When all this altcoin came out from the ICO, investors became divided in their beliefs. Some would like privacy but others would like a fast profit scheme while most ended up in a scam or a rug pull.
We all have a different idea of where we put our money. But I don't think privacy is as sweet as other promises especially if it's a short-term profit scheme.

Altcoins are not an attractive investment compared to Bitcoin. That's because they're extremely-unpredictable. Sometimes they're in the "highs", while other times they're in the "lows". Same as Bitcoin, only that altcoins have greater price volatility. With privacy coins such as Monero and Zcash, the risk of loss is even higher. Governments usually "attack" these coins, ending up in massive de-listings from mainstream crypto exchanges. Monero has been attacked since its inception. But it's still around thanks to its commitment towards decentralization and censorship-resistance.

I see this coin ending up in DEXs, as governments ban it from public use. Only those with the "guts" to use such an outlawed privacy coin will support it no matter what. The majority will keep using cryptocurrencies that are approved by mainstream governments (eg: Bitcoin and Ethereum). I'm fine with that as long as decentralization prevails in the long run. Who knows how far will Monero go? Just my opinion

[Argoo]

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

Monero is an almost completely anonymous coin and therefore it is prohibited for circulation in many states. This coin is often used by people in criminal and other dark deeds. Therefore, it is always under the close attention of states and their law enforcement agencies. Such coins have no future in civilized states, where some control over the movement of cash flows is considered the norm. Of course, Monero will always have its own circle of users, but that is why it will not be a very widespread cryptocurrency.

[Knight Hider]

This coin is often used by people in criminal and other dark deeds. Therefore, it is always under the close attention of states and their law enforcement agencies. Such coins have no future in civilized states, where some control over the movement of cash flows is considered the norm.

That's cash money you're talking about

--Knight Hider

[Abiky]

Monero is an almost completely anonymous coin and therefore it is prohibited for circulation in many states. This coin is often used by people in criminal and other dark deeds. Therefore, it is always under the close attention of states and their law enforcement agencies. Such coins have no future in civilized states, where some control over the movement of cash flows is considered the norm. Of course, Monero will always have its own circle of users, but that is why it will not be a very widespread cryptocurrency.

Wouldn't criminals prefer cash instead of crypto? I doubt Monero is used for criminal activities, especially when most criminals are not tech-savvy enough to understand it. The fact that XMR can't be used for offline transactions, is a dealbreaker to many. Just like BTC and the others (while it's possible to perform transactions offline, you'd need to connect to the Internet at some point to confirm it on the Blockchain).

As I've said many times before, Monero is widely-unpopular because of government misinformation and false propaganda. Strong opposition against privacy coins, have led exchanges to de-list Monero from their platforms. After all, governments don't want people to enjoy true financial freedom and privacy. This is only the beginning of a rocky road for Monero. I wouldn't worry about this, as long as the cryptocurrency stays decentralized and private for everyone. Who knows if it will outlast many of the altcoins being traded across exchanges today? Just my opinion

[Xal0lex]

Again I agree with you, privacy has always been of interest to a small portion of people who are obsessed with protecting their privacy. Such people will never use centralized exchanges, they will go to make Monero exchanges in decentralized P2P exchanges. I don't remember exactly, but I think I've seen some p2p exchanges that work only with Monero and they are still recommended by all those who value their privacy.

I believe Bisq and AgoraDesk/Local Monero are the best P2P exchanges where you can buy/sell XMR without KYC. Unless there isn't any government overreach, these exchanges will continue to operate as usual. Developers of Bisq better remain anonymous and hidden from the public if they want to avoid facing government prosecution. As for AgoraDesk/Local Monero, it's easy enough to take them down by restricting people from accessing the domain (they're hosted on centralized servers, after all). Same goes with Hodl Hodl and any other P2P exchange without a software client.

I've read somewhere that it was possible to do atomic swaps with Monero. You'd just send BTC to the network, and receive XMR in return. All without middleman and KYC-free. Who knows how much XMR will be worth in the future? Just my thoughts

If they close these exchangers, they will open others. The main thing is that the exchange does not connect various fiat solutions and other centralized products, then no KYC exchange will be afraid of. P2P without fiat will live a long time and represent those islands of privacy in the crypto industry, which the connoisseurs of anonymity, decentralization and privacy need. Exchanges themselves provoke regulation on their platforms when they add USD, banking products, payment processors and other services from the world of centralized finance.

[Abiky]

If they close these exchangers, they will open others. The main thing is that the exchange does not connect various fiat solutions and other centralized products, then no KYC exchange will be afraid of. P2P without fiat will live a long time and represent those islands of privacy in the crypto industry, which the connoisseurs of anonymity, decentralization and privacy need. Exchanges themselves provoke regulation on their platforms when they add USD, banking products, payment processors and other services from the world of centralized finance.

Exactly. Governments can't enforce regulations if a crypto exchange doesn't have Fiat trading pairs. That's because they don't have jusridiction on cryptocurrencies without a central authority (decentralized). You don't see governments cracking down on crypto-only exchanges these days (as far as I'm aware). I think DEXs and P2P exchanges with no Fiat pairs will most likely succeed in the long run. This means being able to buy/sell Monero using only crypto (zero Fiat).

As I've stated before, we have plenty of options to get access to Monero without middleman. Everything needs to stay open source and decentralized, so people will be able to enjoy XMR without restrictions. I don't mind about Monero being an unpopular cryptocurrency as long as it does the job it's supposed to. You can see why it's still the #1 privacy coin in the world. Who knows if Monero survives while others (Zcash, Grin, Beam, etc) go all the way down the drain in an instant? Just my thoughts

[Xal0lex]

If they close these exchangers, they will open others. The main thing is that the exchange does not connect various fiat solutions and other centralized products, then no KYC exchange will be afraid of. P2P without fiat will live a long time and represent those islands of privacy in the crypto industry, which the connoisseurs of anonymity, decentralization and privacy need. Exchanges themselves provoke regulation on their platforms when they add USD, banking products, payment processors and other services from the world of centralized finance.

Exactly. Governments can't enforce regulations if a crypto exchange doesn't have Fiat trading pairs. That's because they don't have jusridiction on cryptocurrencies without a central authority (decentralized). You don't see governments cracking down on crypto-only exchanges these days (as far as I'm aware). I think DEXs and P2P exchanges with no Fiat pairs will most likely succeed in the long run. This means being able to buy/sell Monero using only crypto (zero Fiat).

As I've stated before, we have plenty of options to get access to Monero without middleman. Everything needs to stay open source and decentralized, so people will be able to enjoy XMR without restrictions. I don't mind about Monero being an unpopular cryptocurrency as long as it does the job it's supposed to. You can see why it's still the #1 privacy coin in the world. Who knows if Monero survives while others (Zcash, Grin, Beam, etc) go all the way down the drain in an instant? Just my thoughts

Monero is becoming harder and harder to find on centralized crypto exchanges every year. Private coins there are subject to constant persecution. At the same time, the crypto space does not consist of only centralized exchanges, it is full of various P2P, DEX, Instant Swaps, where Monero is supported. Such services will always exist, which means that private coins and Monero will live on.

[Ziskinberg]

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

Because Monero is not Bitcoin?  Being the first decentralized cryptocurrency, although not a privacy coin, Bitcoin with the help of mixers can still keep the users secret .  Aside from that Bitcoin had been created and established way ahead of Monero and the fact that the government frowns upon any privacy coins makes it worse for Monero.

I believe Monero can be a main coin in the dark web but in mass adoption, it has no chance against Bitcoin.

Aside from that, Monero is no good at all compared to Bitcoin which is why we don't have to compare them both. In fact, Bitcoin was popular already before the creation of Monero and I don't think it was reasonable to consider this project as the main coin.
Well, privacy is not really important to most of us. As we are here in investment, what matters the most is the profit potential of the project which Bitcoin already has more than any other coins in the market. It looks like OP had missed seeing it.

[fzkto]

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

Because Monero is not Bitcoin?  Being the first decentralized cryptocurrency, although not a privacy coin, Bitcoin with the help of mixers can still keep the users secret .  Aside from that Bitcoin had been created and established way ahead of Monero and the fact that the government frowns upon any privacy coins makes it worse for Monero.

I believe Monero can be a main coin in the dark web but in mass adoption, it has no chance against Bitcoin.

Aside from that, Monero is no good at all compared to Bitcoin which is why we don't have to compare them both. In fact, Bitcoin was popular already before the creation of Monero and I don't think it was reasonable to consider this project as the main coin.
Well, privacy is not really important to most of us. As we are here in investment, what matters the most is the profit potential of the project which Bitcoin already has more than any other coins in the market. It looks like OP had missed seeing it.

A long time ago, Satoshi wrote on this forum that he wanted to implement privacy in Bitcoin, but at that time he could not do it, so the bitcoin blockchain is completely transparent and anyone can see the history of your transactions. Whether it is good or bad, everyone decides for himself. But if bitcoin privacy was on the mind of its creator, then privacy probably has an important role to play. Of course you can't compare Monero and Bitcoin, but still XMR is a good project, better than many others.

[Abiky]

Monero is becoming harder and harder to find on centralized crypto exchanges every year. Private coins there are subject to constant persecution. At the same time, the crypto space does not consist of only centralized exchanges, it is full of various P2P, DEX, Instant Swaps, where Monero is supported. Such services will always exist, which means that private coins and Monero will live on.

Monero will survive, but it will lose value once it's removed from centralized exchanges. That's because big investors won't be "pouring" money into Monero anymore. Like it or not, CEXs are the doors for "Wall Street" to get into the game. Without having access to the liquidity CEXs provide, XMR won't be able to reach a new ATH in the future. It will be an "underground coin" used only by privacy enthusiasts and criminals alike.

What matters is that Monero stays decentralized so that it could stand the test of time. Maybe it will live alongside Bitcoin for generations? No one can predict the future, so lets hope for the best. Just my opinion

[KingsDen]

Privacy is on two edged sword. To some extent privacy is needed by everyone because making public your private life is a kind of committing suicide because this data of yours that ought to be private but made public could be used against you anytime, either by the government officials or by the criminals.

In the other hand privacy is also being abused to a very large extent to the detriment of the people and the society. This is the reason a very good project like Monero is suffering to prosper in the cryptocurrency industry. Different governments of the world are against such privacy coins and also they find the way to hunt them down and because of this, exchanges especially centralized ones are afraid of listing such coins.

But then privacy cannot be totally lost. We therefore have the believe that as long as there are private people in the world, privacy coins cannot totally be evicted.

[Questat]

It is pretty simple, Monero never gets what the community wants to happen. They prefer to invest and use Bitcoin as it fills their profit goal and transparency if the transactions. I will tell you that it is not privacy where people are looking by now instead, they look for security and profit. If Monero is more profitable and even more useful compared to Bitcoin, people will choose it certainly but it was not so even me, why should I take it which there is another coin that gives me what I want? 

[dunfida]

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

When it comes to total anonymity then XRM getting in line with ZCASH or to those fully anonymous coins then there's no doubt on such thing and this is why its just right that they do get that kind of recognition but in

speaking about beating up and replacing bitcoin to the top ranking spot? Then it is really that impossible but we know that chances and probabilities for BTC to be getting replaced is there but it is really hard to believe that it would happen anytime soon considering or looking with the demand on what Bitcoin have then no other coins in the market that are existing would be able to take its place. Also, come to mind that certain platforms
do really delist out those anonymous coins due to those regulation issues which we know that centralized platforms are really that getting in line with those things and this is why its not shocking on why they do set out
those kind of rules.
Also, we are still on a bear or consolidation period on which prices hasnt got up yet and so as with Bitcoin but on the time that the market would be green
then expect these coins would really be flying out once again.