d5000
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May 14, 2024, 10:16:03 PM |
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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. It was actually at 0.03x in 2018, and still 0.009 in early 2023. But there may be other reasons for the bearish macro view: in the past, Monero almost always performed bad in the early stages of Bitcoin bull markets, like other altcoins did too. And old altcoins often see challenges to stay relevant, many first-time alts like NMC, PPC, FTC or YAC actually did much worse than XMR. In my opinion this may also be a main reason for the decline in BTC from 0.009 to 0.003x, i.e. previous to the Binance delisting. Of course the Bittrex delisting may have contributed, but Bittrex is a relatively minor exchange. The Bittrex delisting was in January 2021. The price had already lowered in late 2020 (probably due to the early Bitcoin bull market effect, like I wrote before), and took a further hit, but then it recovered and reached 0.007 again in May 2021. Now the question is, Is it enough for XMR to come back again strongly?
I believe the recovery will continue but slowly, becuause the "big pumps" (which originate usually on big exchanges like Binance) will be missing. There will be perhaps some more delistings in the future. But as the delisting in several european countries by Kraken had actually no effect at all I also don't see that future delistings should hit the price again like the Binance delisting did. XMR community is already very focused on decentralized exchanges, combined with services in crypto-friendly jurisdictions. I also think that there will be a slow trickle-in effect into Monero: New crypto users start usually speculating with Bitcoin or memecoins at big traditional exchanges. Then they slowly discover the "not your keys, not your coins" principle and often fall further down the privacy/decentralization rabbit hole, until they discover decentralized privacy coins like Monero. Of course that's not true for all crypto users, but even if only 1% does this, this should make the potential public for Monero much, much bigger. In several countries there are big, strong cash-supporting groups who are deeply sceptic about KYC-based electronic payments, and these are also a potential target public for XMR. XMR is still the biggest privacy coin, and other privacy coins like Dash, ARRR or Grin weren't able to challenge it, so it's the first choice those people will stumble upon.
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lalabotax
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May 14, 2024, 10:24:11 PM |
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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. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I don't know, even to find Monero (XMR) on coinmarketcap, I can't just scroll, but have to type in the search field so I can find it more easily and quickly. even though in the past XMR was in the top tier of CPINs which was quite promising. But as time goes by, privacy coins are no longer that interesting and may even start to be abandoned. So it will be quite difficult for them to develop. If you survive, maybe you can still survive, but you still won't be as good as your previous position. I don't even know if this will last any longer or not. because day by day, Monero's position is no better. and they also failed quite badly to reach ATH. Actually, it's not just Monero but there are several other top coins that used to be a dream and now they really can't do anything anymore because they have been eroded by the presence of new altcoins that are more potent and profitable.
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DiMarxist
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May 14, 2024, 10:30:00 PM |
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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.
Yes they are and just as the thread I created few minutes to ago. https://bitcointalk.org/index.php?topic=5496457.msg64076864#msg64076864 the government is after anything called privacy in thr cryptocurrency world. And that is why I asked the question over there " if digital Currencies" are affecting the businesses of the economy of the world because I am not noticing that it affects. Instead what government can't do for the world youths but cryptocurrency ecosystem s doing by providing employment for them to satisfy their needs. US government is after Centralized Exchanges and Private crypto projects.
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redsun114
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May 15, 2024, 06:40:32 PM |
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This de-list things are not new for Monero anymore, so I don't think the recent de-listing is going to be heavy for them to accept. Maybe it is only heavy if you are a regular customer of that exchange. This de-listings can surely keep up the more the cryptos became popular but I think not up to the point that there will be no more exchanges left.
The only moment it will happen is if there are no more cryptos but I don't think that is possible either. So, don't you worry now OP. Given earlier that cryptos are only growing in popularity, therefore the adoption is only actually increasing (not decreasing) and with what I've said earlier, Monero can surely survive this and I still believe that the future of it is still going to be bright.
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yazher
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May 15, 2024, 08:42:49 PM |
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If this continues almost every year then we won't even hear about them anymore, man! I wish we still have the best era in the crypto industry where we don't have to worry about these things. Because of how the government pressure, all the opportunities to keep our transactions hidden are now becoming impossible and there will come a time when we won't ever have such kinds of coins because after de-listing them from centralized exchanges, the next thing is banning them completely from the crypto industry just like the mixers.
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Abiky (OP)
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May 17, 2024, 11:17:03 AM |
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This de-list things are not new for Monero anymore, so I don't think the recent de-listing is going to be heavy for them to accept. Maybe it is only heavy if you are a regular customer of that exchange. This de-listings can surely keep up the more the cryptos became popular but I think not up to the point that there will be no more exchanges left.
The only moment it will happen is if there are no more cryptos but I don't think that is possible either. So, don't you worry now OP. Given earlier that cryptos are only growing in popularity, therefore the adoption is only actually increasing (not decreasing) and with what I've said earlier, Monero can surely survive this and I still believe that the future of it is still going to be bright.
I hope so. If Monero survives, then decentralization has triumphed once and for all. Everything will depend on how developers (and the rest of the community) are willing to resist the government. There will be pressure from all sides, particularly banksters and regulators. Another P2P exchange went down the drain. But that doesn't mean it's the end of the world. This will only make XMR bigger and stronger than ever. With "Wall Street" buying all of the BTC, maybe it's time to move to Monero? We can't predict the future. So we can only hope for the best.
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May 26, 2024, 12:35:34 PM |
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With "Wall Street" buying all of the BTC, maybe it's time to move to Monero? We can't predict the future. So we can only hope for the best.
Many of them are still scared even by Bitcoin. The crypto-is-for-criminals narrative was more catchy than I would have expected. With Bitcoin is simple: greed beats fear. With Monero, I fear it'll take quite some time, especially as it never seemed really focused on big rewards for investors. Imho Monero's chance/choice is to be noticed by somebody important (like Dogecoin was noticed by Elon) as the proper currency for daily expenses.
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d5000
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June 14, 2024, 10:39:39 PM Last edit: June 14, 2024, 11:45:07 PM by d5000 |
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I bump this thread because Monero's price evolution in the last weeks has been like ... a strong answer to the question asked in the OP, and a big middle finger to the regulators and angsty exchanges: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Ftalkimg.com%2Fimages%2F2024%2F06%2F14%2Fcil7q.png&t=665&c=_a6nUKv7u7vFnw) Monero was one of the best performing coins in the past month and now again in the top-40 on Coingecko (#36). The $180 which were reached a couple of days ago are the highest price since January 2023. The decrease to $168-170 is mainly caused by the weak Bitcoin price evolution this week (8-10% decrease from the short 72k local peak). The orange line is the price in BTC showing this phenomenon. In BTC the price is still relatively low.
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Abiky (OP)
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June 17, 2024, 11:57:10 AM |
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Many of them are still scared even by Bitcoin. The crypto-is-for-criminals narrative was more catchy than I would have expected. With Bitcoin is simple: greed beats fear. With Monero, I fear it'll take quite some time, especially as it never seemed really focused on big rewards for investors.
Imho Monero's chance/choice is to be noticed by somebody important (like Dogecoin was noticed by Elon) as the proper currency for daily expenses.
I doubt a celebrity or influential person will endorse Monero. Especially when it's labeled as a "coin for criminals" by mainstream governments. Would anyone want their reputation tainted by supporting a controversial cryptocurrency? I think not. I'm afraid Monero will remain a niche to those who truly care about privacy. It won't be able to reach higher market prices in the long term, but at least it will remain useful. All trading activities will be performed on decentralized exchanges, P2P exchanges, and in-person (F2F). Merchant adoption will continue to decline out of fear from government prosecution. It'll be a dark future for Monero and the crypto industry as a whole. With "Wall Street" in the game, we should expect regulations to become stricter in the long run. Nobody cares as long as they're able to make a profit, right? ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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mindrust
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June 17, 2024, 02:58:54 PM |
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Monero doesn’t need any endorsement from anyone just like bitcoin. As long as the xmr network is up and running, the rest is only noise. Price-wise monero can go to $1 and it will still work flawlessly and that’s all that matters.
$1=xmr would suck for the investors without a doubt but nobody told you to go all in in these highly speculative investments. Have a diversified portfolio and it will be fine no matter what happens in the future.
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Abiky (OP)
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June 18, 2024, 07:34:24 PM |
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Monero doesn’t need any endorsement from anyone just like bitcoin. As long as the xmr network is up and running, the rest is only noise. Price-wise monero can go to $1 and it will still work flawlessly and that’s all that matters.
$1=xmr would suck for the investors without a doubt but nobody told you to go all in in these highly speculative investments. Have a diversified portfolio and it will be fine no matter what happens in the future.
If XMR falls all the way to $1, I doubt people will continue to use it (except for true believers of the coin). Especially when the general public considers crypto to be investment assets (not real currencies). With limited merchant adoption, Monero will be doomed in the long run. The tech is good, but without mainstream adoption, how will the coin survive? That's an excellent question. There are powerful forces who don't want truly-decentralized cryptocurrencies to succeed. If everyone was using Monero, governments would have less control/power by now. Hopefully, the XMR chain remains alive in the future.
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d5000
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June 18, 2024, 08:49:56 PM Last edit: June 19, 2024, 04:07:41 PM by d5000 |
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I doubt a celebrity or influential person will endorse Monero. Especially when it's labeled as a "coin for criminals" by mainstream governments. Would anyone want their reputation tainted by supporting a controversial cryptocurrency? Why not? There are several celebrities with a rebellious image. Take (punk) rock stars, gangsta rappers, certain actors, "business punks" ... Their image actually could benefit from endorsing Monero. There also could be celebrities for example supporting opposition activity in dictatorships like Russia, and those people could explain the public why Monero is good for these activities as they make it more unlikely to be detected and prosecuted by their respective authorities. Perhaps the XMR community should reach out to this kind of personalities ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Merchant adoption will continue to decline out of fear from government prosecution.
As long as there is no ban on Monero, there is no reason for a merchant to cease XMR support due to "fear from government prosecution". If XMR merchant adoption is currently decreasing (I don't know numbers that could confirm that), then it's probably related by their favourite crypto exchange having delisted Monero. This is of course a real danger. So it depends on the Monero community if their decentralized exchange tools, like Haveno, grow to maturity fast enough to replace the centralized options. About Monero at $1: I see no reason why it should not be used as currency in this hypothetical case (as I wrote before, XMR is currently a well performing crypto, so this is "very" hypothetical ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) ). However, a fall to $1 should have a reason, and it is likely that a dramatic loss of adoption should have occurred before this mega-crash happened (99.4% compared to current price).
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Argoo
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June 19, 2024, 06:27:34 AM |
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Monero doesn’t need any endorsement from anyone just like bitcoin. As long as the xmr network is up and running, the rest is only noise. Price-wise monero can go to $1 and it will still work flawlessly and that’s all that matters.
$1=xmr would suck for the investors without a doubt but nobody told you to go all in in these highly speculative investments. Have a diversified portfolio and it will be fine no matter what happens in the future.
Do not forget that states, especially if they unite and make a common decision, can greatly influence the cryptocurrency market. Monero is the leader in the field of anonymous and confidential cryptocurrencies, and states are very negative about them. I believe that over time, states will only increase pressure on coins with a high level of anonymity, until they are completely banned or go into the shadows. Although there will always be a certain demand for such coins in society, I do not recommend getting carried away with them.
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CK485
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June 19, 2024, 10:21:12 AM |
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Monero doesn’t need any endorsement from anyone just like bitcoin. As long as the xmr network is up and running, the rest is only noise. Price-wise monero can go to $1 and it will still work flawlessly and that’s all that matters.
$1=xmr would suck for the investors without a doubt but nobody told you to go all in in these highly speculative investments. Have a diversified portfolio and it will be fine no matter what happens in the future.
It seems that when making a decision you need to look at developments first to overcome all of this, in this case Monero uses technology to increase privacy with anonymous transactions, and cannot be tracked, however, the improvement period will continue as time goes by, if XMR goes down I think many people will reconsider it. although it is a choice for those who and it depends on each individual's thoughts.
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el kaka22
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June 19, 2024, 06:28:32 PM |
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If you look at the charts, it is higher right now than it was during the delisting, Binance delisted it when it was 115 or so, and right now it is closer to 160 to 170, which means that it is doing better compared to that time. Does that mean it would be a great investment to make? I personally do not think so, I believe that it only recovered because of the market and will do badly later on, but that is just my idea.
I believe that because it is privacy focused, governments all around the world will ban it, and every exchange will be forced to delist it, and eventually it will reach to a point where you would have to use p2p or terrible shady exchanges. This is why I do not see a bright future for Monero at all and would not invest.
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d5000
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June 19, 2024, 06:51:09 PM |
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I believe that it only recovered because of the market and will do badly later on, but that is just my idea. As you can see in the picture I posted above, the recovery is also driven by the XMR/BTC price. XMR has performed well in a context where almost all other altcoins were stagnant or even bearish. Only Bitcoin and ETH managed to hold their price approximately, but XMR performed even better than them. It is possible that the current price is a local high, of course. But I believe there are reasons to believe that there is genuine demand for Monero and thus the recovery can continue. I believe that because it is privacy focused, governments all around the world will ban it, and every exchange will be forced to delist it, and eventually it will reach to a point where you would have to use p2p or terrible shady exchanges. This is why I do not see a bright future for Monero at all and would not invest.
Monero may be already now trading mainly via P2P and exchanges in privacy-friendly jurisdictions. I'm not as pessimistic as you regarding bans. It's not easy to outright ban a cryptocurrency in a democracy (the UAE is another story as it's an almost-absolutist monarchy). Trading "bans" on registered exchanges are easier but even there I believe the last word is not spoken, even if currently for example the proposed AML directive update 8 for the EU doesn't look good. Monero proponents should be much bolder promoting XMR as a means to finance opposition activity in autoritharian countries like Russia, and this could also find open ears in "Western" governments that a completely fungible and censorship resistant "digital cash" is not a bad idea.
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devil-soul
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June 20, 2024, 07:40:56 PM |
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Monero is an altcoin much loved by a large number of investors and by those who care a lot about their privacy, i believe that it will survive the delisting from the main CEXs very well, its exchange volume will grow on the various DEXs
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MeGold666
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June 20, 2024, 08:13:00 PM |
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Now that we have a working DEX I hope Monero gets delisted from all CEX, ASAP. Government and their "regulators" have lost this war, miserably. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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June 20, 2024, 09:12:35 PM |
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It still has a future, we all like privacy and that's why monero is the top notch of it. Even with delistings from the centralized exchanges, there will be community driven exchanges that will be made just for monero to get ahead and have more uses. Government doesn't really like its features and that's why they're taking it down.
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JeromeTash
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June 20, 2024, 09:51:30 PM |
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I bump this thread because Monero's price evolution in the last weeks has been like ... a strong answer to the question asked in the OP, and a big middle finger to the regulators and angsty exchanges:
There is a huge privacy gap in the crypto world that has been created with the seizure or closure of popular Bitcoin mixers and some No KYC p2p exchanges, as I pointed out earlier on. Most of the users are going to move to privacy leaning coins like Monero. Monero being the oldest and biggest will get a lion share of the users. Someone said that even if Monero reached $1… Hold up, Like, how is it even going to reach $1? This is no TerraLuna or FTX token ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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