Can Monero survive exchange de-listings and low merchant adoption?

[GreatArkansas]

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Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

It seems Monero adaption or any other privacy coins is getting slower, there are some effects, which could be because we already have a lot of altcoins these days and the essence of cryptocurrency is being redundant to use privacy coins or there are some platforms deployed on existing networks that you can already achieve privacy.

[Abiky]

The US government is after everything that is  or was created for privacy. Monero being the most used privacy coin is facing the pressure of the government. Cannot say anything about local Monero exchange but delisting on some of the big CEX will hamper it's market and ultimately affect its valuation in long term.

We all knew what was coming. Now everyone has to face the consequences. Monero could survive if the community continues to support it. All trading needs to be done across truly-decentralized protocols and software to help prevent another government crackdown. With platforms such as Bisq, Haveno, and Serai, what could go wrong? The core Monero developer team needs to remain anonymous for all of this to work.

Without CEXs, XMR will have less exposure to the mainstream world. This means lower market prices in the long run. But at least, Monero will do the job it's supposed to. It's a dark future for the whole crypto/Blockchain industry. So we should be prepared for the worst.

[bitgolden]

Not that it relied on exchanges or anything else, it is a privacy currency and having monero on your exchange account that you give your KYC to makes no privacy sense at all. This is why I think it shouldn't really be considered a terrible thing for them, it should feel like what should have happened to begin with. This is why I believe that there aren't all that many different approaches into this and we could probably consider how that could stay the same.

Monero is something that a few people who have a certain request uses, and if you are not a person who requests the same thing (which majority of the market doesn't) then you will not care and if you are one of the few who does request it then you are going to be fine with not sharing your KYC when trading monero anyway.

[wheelz1200]

It's going to be tough for them.  If you can't exchange for it a lot of people will just stay away.  Put that with the fact people only are really buying the hot new thing I can't see monero staying around forever. Slowly the old momero crowd won't have any new blood and will soon wither away like a ton of other old school coins.

[_BlackStar]

Regulation continues to influence the acceleration of privacy coin adoption – most recently Monero came into the spotlight due to the closure of LocalMonero due to government oversight. It is clear that the government does not want many people to use privacy for their financial transaction - they even blame extremist and illegal transaction as reason to prevent the development of privacy coin.

In my opinion - Monero will survive regardless of how adopters use it. The impact of this delisting is a decrease in trading volumes and also prices - but I don't believe Monero will collapse just because of the government. Guns should not be blamed for murder cases - nor should Monero be misused by certain vested interests.

[Yogee]

There will be a group that will still use XMR for sure and they will be the hardcore privacy and anonymity advocates. I agree with others that mainstream adoption is over for this coin.

[...]
Most importantly, what is the point of using monero if one is going to use a centralized exchange that even asks for KYC verification?

This one. But I guess it will be about hopping from Monero to other chains first using real DEX or P2P before sending them to CEX for fiat conversion.

[Mate2237]

That is very bad for them to shutdown their operation. Though I have not used their services before but i have heard it time without number and according friends that were using the service, it was nice as they said. But the way Monero has come so far I don't think it will just stop like that because of government pressure and they can only stop  if the participants or the population is not much again. Even though exchanges are delisting it, the p2p can function well and I think Monero is a decentralized cryptocurrency so the p2p should work.

If Monero has finally shutdown then bitcoin is also in trouble because the government pressure on bitcoin is also high and we can see that from all the countries. My country has delisted p2p transaction of cryptocurrency from many exchanges. But we are planning to use the real p2p so Monero will survive and when it over this trying period, then it comes stronger.

[Abiky]

It's going to be tough for them.  If you can't exchange for it a lot of people will just stay away.  Put that with the fact people only are really buying the hot new thing I can't see monero staying around forever. Slowly the old momero crowd won't have any new blood and will soon wither away like a ton of other old school coins.

I'm afraid so. Without places to buy/sell Monero, who would want to use it? Only a small portion (mainly libertarians, cypherpunks, tech enthusiasts) will support XMR. The rest will carry on as usual with top-tier coins. Expect the battle between privacy coins and mainstream governments to last for a long time.

I can't imagine how low XMR's market price will be in the future. Especially without exposure from VCs, institutional investors, and retail investors alike. Definitely not worth it as a long-term investment. If you're planning to use Monero as a currency, this shouldn't be a problem. Hopefully, developers stay anonymous to help protect XMR against government interference. Maybe Monero will live alongside Bitcoin for generations?

[andyou1234]

In my opinion, even though the price of Monero has fallen too deeply and is currently rarely talked about, I am sure that Monero will rise again and will definitely remain in the crypto market and will rise again to the top 10 CMC, even though this is very difficult. , but considering that monero has a fairly large community and popularity, I am very optimistic that in the future monero will get better,

[NeuroticFish]

Without places to buy/sell Monero, who would want to use it? Only a small portion (mainly libertarians, cypherpunks, tech enthusiasts) will support XMR. The rest will carry on as usual with top-tier coins. Expect the battle between privacy coins and mainstream governments to last for a long time.

While we've already seen that delisting from big exchanges does affect Monero's price, I still hope you're wrong. Monero does deserve more attention. The rather silent war against it proves this point big time. Monero is even more pro-liberties than Bitcoin. But yeah, sadly going for beliefs rather than profits is a small niche.

[Tipstar]

It's sad to see Monero being forced to die. Many of the popular exchanges have delisted Monero, that is the reason why there's a sharp decrease in trading volume. Although Monero is more popular being traded in shady and underground exchanges, yet they don't have large volume and whatever volume it may be, it is not counted by aggregators like Coinmarketcap. Monero is currently 45th by marketcap and as they fade from sight, people would start forgetting it. It might survive on the dark web but won't increase much in value as the demand would be low.

[FinneysTrueVision]

Even for Bitcoin, which is the most popular cryptocurrency, it can be hard for some people to acquire, especially if you’re not willing to do KYC or you live in a country with strict regulation, and adoption is still not that significant. I think Monero will be fine, just like Bitcoin has been fine through periods of adversity, you just might have to deal with some inconvenience and will have to live with bearish market performance.

[Hispo]

Monero will obviously continue to function, as it's Blockchain is decentralized by design, people will continue to mine and transactions will continue to flow, but with a very low volume than before.
The price will be negatively impacted, I think as it becomes a less liquid asset, though there could be some solution in the horizon if some developers started to work on an application for people to exchange in a P2P manner and make that application free software, there have had some of those for Bitcoin and their popularity has varied, though, it could become a central way for people interested in buying Monero to reach their goal into privacy. However, I am not sure how one could solve the problem of less businesses and people accepting it in exchange for their goods and services on the internet, the stigma which is being purposefully created against Monero will make merchants not to have anything to do with this project.
The community of Monero is passionate enough for them to think and come up with a solution to this lack of liquidity, this as expected to happen on exchanges, so let us see what the response is going to be.

[d5000]

I can't imagine how low XMR's market price will be in the future. Especially without exposure from VCs, institutional investors, and retail investors alike.

Well, in the last month XMR made actually a quite good ROI, in a period where most coins were stagnant (like BTC) or even lost (like ETH). The orange line is the price in BTC which shows the "relative price" in comparison to the whole crypto market:


Source: Coingecko

I don't see it going down further, at least not with the excuse of exchanges delisting. I believe this was already priced in when Binance delisted it and the price fell close to $100 for a short time.

Before the Binance delisting, XMR's price in BTC was BTC0.0037 approximately. The lowest price in March was BTC0.0017. Now it's at BTC0.0021, despite several waves of bad news. I don't know if XMR will see 0.0037 again, but a price close to 0.003 seems possible, and that would mean the former price level in USD (160-170$).

And I agree with Hispo, XMR community is very strong. It could even be worth to observe its evolution for Bitcoiners afraid of further attacks against privacy, to know how a coin can be made resilient against these attacks. That doesn't mean that Bitcoin needs to incorporate things like ring signatures, which would be very difficult (and need a hard fork probably). What I mean is learn from XMR's decentralized service ecosystem.

[adaseb]

I don’t think it will ever reach that $500 high it did in 2017. And like you said, all these exchanges are affecting its performance because it’s one of the only coins which has done poorly while BTC reached new highs.

With all the regulations going on, I am not surprised. The more exchanges that delist then it doesn’t look good for it’s future. On the charts it looks like it might retest the $100 area and hopefully it holds when it reaches that area.

[CoinMin3r]

I don't see it going down further, at least not with the excuse of exchanges delisting. I believe this was already priced in when Binance delisted it and the price fell close to $100 for a short time.

Before the Binance delisting, XMR's price in BTC was BTC0.0037 approximately. The lowest price in March was BTC0.0017. Now it's at BTC0.0021, despite several waves of bad news. I don't know if XMR will see 0.0037 again, but a price close to 0.003 seems possible, and that would mean the former price level in USD (160-170$).

And I agree with Hispo, XMR community is very strong. It could even be worth to observe its evolution for Bitcoiners afraid of further attacks against privacy, to know how a coin can be made resilient against these attacks. That doesn't mean that Bitcoin needs to incorporate things like ring signatures, which would be very difficult (and need a hard fork probably). What I mean is learn from XMR's decentralized service ecosystem.

Delisting is affecting XMR in terms of price for sure. Before it got delisted from bittrex, XMR's price in BTC was around 0.007 too. Main thing is it hadn't collapsed completely like other alts after such incidents showing there are strong community behind it supporting privacy. Now the question is, Is it enough for XMR to come back again strongly?

[DeathAngel]

I think people who are absolutely desperate for anonymity will continue to use it. It just depends if because of low user numbers due to regulatory pressures, will it eventually become worthless? I don’t know the answer to that, the market will decide though.

[bettercrypto]

This year has been very hard for Monero as more exchanges decided to de-list the coin from their platforms. I've now read an announcement from LocalMonero that they will be shutting down their operations (a pity, because it was a good P2P exchange). If this keeps up, we won't have a way to buy/sell XMR with crypto or Fiat. Adoption for privacy coins is decreasing each day. We can blame government pressure (especially the US government) for this.

Do you think Monero will be able to survive this? Does it still have a future? As for LocalMonero, what other options are available for P2P trading? Your input would be greatly appreciated. Thanks in advance.

This monero was already here when I started; it was one of the pioneers in this industry, and it cannot be denied that the community it has established in this field is also large. I even experienced being able to mine it in Minergate.

After a few years, I don't seem to have heard much development in Monero; all I know is that I heard that the US government is harassing it. As far as I know, I hope Monero can survive for a long time.

[moneystery]

this does not rule out the possibility that monero will be delisted on many exchanges if its users decrease in the future.  this in itself is due to the impact of monero's features being irrelevant for most users today, since what they offer is privacy coins and most users trade them on exchanges that use kyc, so it is no longer relevant to them.  and also sooner or later monero will also be targeted by the government, it makes people increasingly see that monero is no longer attractive for them to invest in.

[Abiky]

Monero will obviously continue to function, as it's Blockchain is decentralized by design, people will continue to mine and transactions will continue to flow, but with a very low volume than before.
The price will be negatively impacted, I think as it becomes a less liquid asset, though there could be some solution in the horizon if some developers started to work on an application for people to exchange in a P2P manner and make that application free software, there have had some of those for Bitcoin and their popularity has varied, though, it could become a central way for people interested in buying Monero to reach their goal into privacy. However, I am not sure how one could solve the problem of less businesses and people accepting it in exchange for their goods and services on the internet, the stigma which is being purposefully created against Monero will make merchants not to have anything to do with this project.
The community of Monero is passionate enough for them to think and come up with a solution to this lack of liquidity, this as expected to happen on exchanges, so let us see what the response is going to be.

Of course it will continue to function. Only if nodes and miners are still supporting the network. The only thing is that market prices would be so low due to decreased demand/mainstream adoption. You'd only use Monero as a currency than a long-term investment. With how things have been going on for XMR, I think it will end up being traded solely on DEXs and P2P trading platforms. CEXs would be out of the picture. This is good because it will make Monero more decentralized. Perhaps even more decentralized than Bitcoin itself.

Hopefully, the Monero project gets enough funding to sustain itself for generations. As long as it remains actively-developed and maintained by the community, there should be nothing to worry about.