Why is Monero so unpopular?

[Xal0lex]

Monero can exist without whales and institutionals, it will also exist if all centralized exchanges abandon it. In these scenarios, the utilitarian properties or the ability to remain anonymous will not suffer. What would suffer would be the users themselves, as many Monero holders bought the coins at prices of ~$50-500. What would happen to them in a negative scenario? They will lose their money and their coins will be devalued, but their privacy will not go anywhere. All the discussed threats around Monero are only about its speculative functions and its price.

You're right about that. The main problem is that most people measure a cryptocurrency's value in Fiat. Without mainstream CEXs supporting Monero, I fail to see how adoption will grow in the long run. On the contrary, adoption will decline since most people will be afraid of using an "outlawed" cryptocurrency in the first place. It's likely the USD value of XMR will decline too. If you don't care about the price, then Monero getting de-listed from every CEX shouldn't be a major concern.

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

[Abiky]

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts

[Xal0lex]

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts

That's the big obstacle to mass adoption. People don't want to delve into the technology and utility, and value only the speculative part of cryptocurrencies. If it's the other way around and technology is paramount to people, we won't notice hundreds of thousands of useless tokens that have no technology and utilitarian properties disappearing from the market. It is people's own fault that the cryptocurrency market is flooded with a lot of shitcoins, because they invest their money in them, which means there is a demand. Where there is demand, there will be supply.

[cute nmp]

Dont know the actual reason why Monero is still unpopular among many people it is one of my favorites been holding some since the bullmarket ,Though i sold much of it now i am still holding some. It is still so much better than most of the new altcoins in the market today dont know why it is still not much adopted till now.

[livingfree]

It actually did.

But with all centralized tokens and shitcoins that have come to promote themselves more profitable than the more legitimate cryptos like XMR. It has became the choice of many and didn't care at all with privacy stuff.

Also, the banning scenarios that has been banned by many exchanges on it that made people scared of it that it might be nonsense anymore to hold it when the governments are fighting against privacy cryptos.

[Blitzboy]

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Most people are into crypto because of the money. Not because they believe in its tech. Monero may have some value today, but it could all fade away once it gets "banned" from CEXs. Only the underground world will use Monero no matter what. The rest of the people will stay with transparent crypto coins such as Bitcoin and Ethereum, especially when they "have nothing to hide".

You can see there aren't as much privacy-oriented coins today like it used to be in the early days. Developers are afraid of launching new coins with privacy features due to tighter regulations. These days, coins are fully transparent with PoS as their main consensus algorithm. It's a pity because this makes the crypto industry centralized. There's nothing we can do, other than sit back and wait what happens in the long run. I'd be surprised if Monero is still trading across centralized exchanges within a decade from now. Just my thoughts

I believe it is indeed a serious issue that most people are leaning towards transparent coins like Bitcoin and Ethereum. Your observation about Monero potentially getting sidelined is astute. It is hard to use, and that is a significant deterrent for many.

Think about this: What if the "nothing to hide" mentality changes? Societal perspectives are ever-evolving. People might swing back to valuing their privacy more, and then, coins like Monero could see a resurgence.

However, I agree that, for now, the trend is towards transparency, and the regulatory environment is adding to that momentum. The future of Monero and similar coins looks uncertain in the centralized exchange ecosystem, and its really a wait-and-watch situation as you rightly put it. Thanks for adding to the wisdom of the crypto community with your thoughts!

[Nrcewker]

Monero has its niche in the market and has its utility, why should it be overly popular? It is just about the only old pow coin that is still trusted by privacy enthusiasts. Such projects don't need excessive attention from regulators and adoption, as it will ruin the coin, it will start to be banned even more, they will try to regulate it and things like that. Don't expect Monero to be as fast as DOGE.

I can really say that Monero was one of the oldest altcoin that I have ever came across. 5-6 years back Monero along with XRP and LTC had crazy fan base. Whenever you ask any trader about their holdings, Monero will be surely present in that list. Yes days passed and new coins came with better opportunities, hence people moved from these OG coins to the new ones to make more profit. I still believe that Monero has good capabilities and it’s a good coin to invest.

[lamxanutnah]

Bitcoin has been around longer and is more widely recognized in the investment and business communities. Its higher popularity and awareness make it a natural choice for many users and organizations.
Some countries and regulatory bodies are not fond of Monero's strong privacy features because it can be used for illegal activities or money laundering. This can lead to concerns and pressure from authorities to control or ban Monero.

[wantraung8ah]

Bitcoin has had more time to integrate with traditional financial services and systems. Monero is working on broader integration, but it is still in the process of development and expansion.Bitcoin has a larger liquidity market and is traded on numerous major exchanges. This makes buying and trading Bitcoin easier compared to Monero, which can limit user choices.

[Huppercase]

Bitcoin has had more time to integrate with traditional financial services and systems. Monero is working on broader integration, but it is still in the process of development and expansion.Bitcoin has a larger liquidity market and is traded on numerous major exchanges. This makes buying and trading Bitcoin easier compared to Monero, which can limit user choices.

No! No!!

Your opinion is disparaging.
I'm not sure about this but I don't think there is any altcoin that has high level of privacy like Monero. Bitcoin has its own privacy, but can be easily broken and that's why you see we have lots of mixers around bitcoin to improve their privacy by using some specialized protocols to achieve privacy to the fullest and despite that, there are some onchain analyst that still find a way to break them and if you're not careful about the choice of mixers, they can keep your backlogs which can be used to track you down if they further investigate the mixers later in the future.

However, monero don't require all of this long process. A VPN on any exchange or routine through onion and making transaction through monero is one the best way to archieve maximum privacy, you will hardly here much about chain analyst saying they have tracked how money are move in monero. This is why some exchange don't allow users to deposit Monero on the exchange because on chain analyst and the government hardly track the source and the destination of transactions with monero.


Monero xmr is really good to achieve high priority of privacy but at the same time, it's scary on the level of what can be done with it and bitcoin anonymousity don't come close to it but it's still the best compare to bitcoin privacy.

[Argoo]

This is the fear of any cryptocurrency, even bitcoin. Cryptocurrency itself, especially on PoW consensus, cannot be banned because it is decentralized and there is no single command center. Most crypto users primarily associate cryptocurrency with the price on the exchange, and if this price collapses by 90%, many will consider the coin dead.

In this regard, those who became early investors in Monero are at an advantage, as they are not strongly tied to the value of the coin itself, because the cost of their coins is extremely low.

Monero differs from the bulk of cryptocurrency in its high degree of anonymity, and this is the problem of its current state. Many understand that states will strengthen regulation of cryptocurrency and this will primarily concern the identification of participants in the cryptocurrency market. If this affects Monero, then its specialness and current attractiveness will disappear and this coin will turn into hundreds and thousands of them that are available in this market. Some states, including Japan, simply prohibit the circulation of this coin on their territory and this cannot but affect the decline in its popularity.

[Biznesmen]

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

Montero is a decentralized peer-to-peer payment currency. But unlike Bitcoin, which allows you to see any and all account balances and transactions, with Monero everything is hidden using something called ring signatures, which obscure the destination, the origin, and the amount sent. Other tech layers help to do things like obscure your IP address, allow for stealth addresses, and hide the transaction amount. Monero is untraceable, unlikable, and truly private, which is why it has remained so popular throughout the years. As long as there is a need for privacy, there will be a need for monero. So I don't believe it's the coin that's actually unpopular, but actually a bit mysterious and private, but quite popular. I think Monero has a distinctive place in the marketplace for digital currencies, particularly because some individuals think it is far better than Bitcoin.

[strunberg]

Yes days passed and new coins came with better opportunities, hence people moved from these OG coins to the new ones to make more profit. I still believe that Monero has good capabilities and it’s a good coin to invest.

Of course, other coins have a better chance of fetching a better price. I also agree that Monero is a good coin. But is it worth it for investors to save the coins and then hope to make a profit? I do not think so. The price of Monero is the same as XRP in that there are not too many significant movements. I think that's one of the key factors that makes Monero pricing not so popular.

[Xal0lex]

Monero has its niche in the market and has its utility, why should it be overly popular? It is just about the only old pow coin that is still trusted by privacy enthusiasts. Such projects don't need excessive attention from regulators and adoption, as it will ruin the coin, it will start to be banned even more, they will try to regulate it and things like that. Don't expect Monero to be as fast as DOGE.

I can really say that Monero was one of the oldest altcoin that I have ever came across. 5-6 years back Monero along with XRP and LTC had crazy fan base. Whenever you ask any trader about their holdings, Monero will be surely present in that list. Yes days passed and new coins came with better opportunities, hence people moved from these OG coins to the new ones to make more profit. I still believe that Monero has good capabilities and it’s a good coin to invest.

Monero, Bitcoin and Litecoin have a very high trust among crypto users and also these coins have a very large adoption in the crypto environment. These coins are found in many services and are good ways to pay for goods and services. Undoubtedly, these coins will never die because they have a utilitarian function and not just speculation on exchanges.

[Abiky]

Monero differs from the bulk of cryptocurrency in its high degree of anonymity, and this is the problem of its current state. Many understand that states will strengthen regulation of cryptocurrency and this will primarily concern the identification of participants in the cryptocurrency market. If this affects Monero, then its specialness and current attractiveness will disappear and this coin will turn into hundreds and thousands of them that are available in this market. Some states, including Japan, simply prohibit the circulation of this coin on their territory and this cannot but affect the decline in its popularity.

Regulations will get tougher over time. I hardly doubt Monero will gain the approval of the regulators due to the way it was designed. The cryptocurrency will face constant opposition from mainstream governments until it's "banned for good". At least, people will still be able to get access to it through DEXs and P2P exchanges. What's important is that Monero stays private and decentralized forever. As long as it stays that way, there should be nothing to worry about.

I couldn't imagine an scenario where privacy coins become extinct in the future. If that happens, everything crypto (especially Bitcoin) has achieved so far would be nothing but lost. We can never underestimate the power of governments and banks. No one can predict the future, so lets hope for the best.

[bolshojkush]

Monero is very popular in narrow circles, but not all beginners have heard about it, so it's easier to keep money in bitcoins, due to the growth of the latter. Monero is used to launder dirty money, including dirty bitcoins. The scheme is simple dirty bitcoin - montero - bitcoin. The money was laundered, but it is stored in bitcoins or in stablecoins, therefore there is no big increase in the price of Monero and its popularity.

[Knight Hider]

The scheme is simple dirty bitcoin - montero - bitcoin. The money was laundered

If there is such a thing as dirty bitcoin, the bitcoin you get back will be just as dirty as the bitcoin you put in. That's not laundering, it's hiding your trail.

[Abiky]

Monero is very popular in narrow circles, but not all beginners have heard about it, so it's easier to keep money in bitcoins, due to the growth of the latter. Monero is used to launder dirty money, including dirty bitcoins. The scheme is simple dirty bitcoin - montero - bitcoin. The money was laundered, but it is stored in bitcoins or in stablecoins, therefore there is no big increase in the price of Monero and its popularity.

Who told you Monero is used for money laundering? If you believe everything the government says, then you don't have what it takes to be in crypto. For what I know, Fiat currencies are used more for illegal activities than cryptocurrencies. The vast majority of Monero users are legitimate (AFAIK). Of course, there's no way to prove this. Especially when transaction data in the XMR blockchain is obfuscated. I guess that's why governments are keen on shutting down Monero for good. Or at least, de-list it from as many exchanges as possible to prevent it from reaching mainstream adoption.

I have to admit using Monero is a little bit complicated if you're used to ordinary cryptocurrencies such as BTC and LTC. This slight learning curve is one of the many reasons why most people avoid XMR in the first place. At least we know Monero won't be going anywhere soon. As long as the project is being actively developed, there should be nothing to worry about. Maybe XMR will outlast many of the shiny-new coins we know and love today?

[bolshojkush]

Monero is very popular in narrow circles, but not all beginners have heard about it, so it's easier to keep money in bitcoins, due to the growth of the latter. Monero is used to launder dirty money, including dirty bitcoins. The scheme is simple dirty bitcoin - montero - bitcoin. The money was laundered, but it is stored in bitcoins or in stablecoins, therefore there is no big increase in the price of Monero and its popularity.

Who told you Monero is used for money laundering?

I watched a big interview with a man in uniform who is engaged in crime investigations, and it was he who told about the scheme of laundering bitcoins through monero. And it looks true, since I've been studying how the monroe blockchain works.

[wtsimis]

The main problem with Monero is that it tries to maintain too much privacy which is considered illegal activity. Moreover some exchanges have been asked to be cautious while listing it. Moreover, cryptocurrencies like Bitcoin lack widespread acceptance with the mainstream, which further limits its use. Because monero is behaving like a total anti-government. Officially called it anonymous for czar's privacy. This is why monero has become an unpopular token.