Monero Acceptance Seems to be Growing

[bitgolden]

When I say "acceptance" I'm referring to retail acceptance, not bank acceptance. Retail is what actually matters the most. Nobody has suggested buying Monero as an investment at any point and "Don't Buy Monero" was embraced by most Monero enthusiasts who just use it to actually buy things. That is why it is such a great option, the banking industry is staying out of it entirely. So, Bitcoin is used as a bridge, and that is fine because people hardly ever have to get out of crypto after they get in. Once that bridging is fully automated, which like I said will happen because AI makes software coding quite a lot faster these days. So yes, don't buy Monero as an investment. Monero already have a 3rd wind right now, today, as a big investment gain. But that isn't the point and frankly I'm fine if Monero never gets another leg up.  But I do believe it will enjoy slow and steady gains from being used as actual exchange money at the retail level and peer-to-peer barter level.

I disagree. Retail is limited, banks are limitless, they are everywhere. A few more shops taking monero is not something that you can quantify easily, I have seen online a couple more places are now taking it is not a way to consider it doing fine.

It has very clearly been something that is not wanted by majority of people, only a few people who are insisting on monero to stay alive is still using it or trading it. And while it could have ups and downs, it is not going to have the volume or adoption that much.

[Abiky]

The exchanges are afraid of regulation and doesn't want anything to do with law enforcement which is why they have decided to delist the coin instead of having law enforcement on their back everyday with different cases. Many scammers laundered stolen coins through monero and because they are hard to track, the law enforcement put too much attention to them that they suspected any transaction that get into exchange unlike other coins.

We know that scammers and hackers will always exist in crypto but we also have to admit that privacy is very important in crypto, people that want privacy and doesn't like to leave any fingerprints on the internet will continue to use monero, it's the number one reason why moneto stand to be having demand more than some privacy altcoins in the market, even Dash isn't as demanding as Monero coin due to its ptivacy.

That's partly true. But being "afraid" is nothing more than an excuse to not support privacy coins at all. They can just force KYC to all of their users when depositing a privacy coin like Monero. I mean, the "privacy" part would be "lost", but exchanges will still be able to profit from the maker/taker fees. As long as everything is done in compliance with regulations, they should have nothing to worry about.

In a way, exchanges de-listing Monero is actually good for its decentralization and privacy-oriented nature. This will force everyone to either trade XMR through DEXs or non-KYC P2P trading platforms. Merchants can still accept XMR via a centralized payment processor (eg: CoinPayments). For the truly-paranoid, accepting XMR payments directly (no middleman) would be the way to go. Hopefully, adoption for Monero will increase even faster in the future as CBDCs take over the world by storm. With cash losing its relevance by then, using a privacy-coin such as Monero would be a must. Just my two sats.

[JeromeTash]

Monero has been my cryptocurrency of choice because of its maximum focus on our right to remain silent as privacy, freedom of expression, property rights, and so on. I've noticed that more and more merchants are including it as one of their flagship options and that makes me very happy. The transaction fees remain only 1 to 2 cents.

Bitcoin mixers were actually a direct competitor of Monero, and from the time Bitcoin mixers were banned from this forum, people started to look for the best alternative out there that had no hassle like that of looking for a legitimate bitcoin mixer that might as well be a honeypot.

One thing you can do to pay any crypto payment service using Monero (XMR) is to use an exchange swap service like OrangeFren.com and then initiate a swap.

OrangeFren is not a swap service, though. It's a directory of swap services and other services that may be privacy focused.

[PrivacyG]

I think Monero adoption is slowly growing, especially among users who really care about privacy.
Bitcoin is still the most used coin, but it’s not fully private, so Monero becomes a better option for certain situations. That’s why it keeps attracting a specific group of users.
I’ve also seen more discussions about Monero lately and some services starting to accept it, even if it’s not very common yet.
At the same time, regulations and exchange restrictions make it harder for Monero to grow fast.
So in my opinion, it is growing, but in a more niche way compared to bigger coins.

The number of people who really care about privacy, that is the number that makes Monero more or less important against other Cryptocurrencies.  There is no point in holding a private Cryptocurrency if you do not care about being private, right?  Unless it makes them a TON of money which while Monero has made a lot of returns, it still is behind Bitcoin overall.

Monero is ready to perfectly serve its use case.  But people still do not feel the need Monero serves.  I hope one day they will, because if we do not start caring for our privacy then we are pretty much all going to be screwed in a matter of years with most of our information leaked out all over the internet and zero legitimate reasons to ever want a private moment, conversation, call et cetera because if we all stop caring, the ones who care become very dubious.

[caroasi]

When I say "acceptance" I'm referring to retail acceptance, not bank acceptance. Retail is what actually matters the most. Nobody has suggested buying Monero as an investment at any point and "Don't Buy Monero" was embraced by most Monero enthusiasts who just use it to actually buy things. That is why it is such a great option, the banking industry is staying out of it entirely. So, Bitcoin is used as a bridge, and that is fine because people hardly ever have to get out of crypto after they get in. Once that bridging is fully automated, which like I said will happen because AI makes software coding quite a lot faster these days. So yes, don't buy Monero as an investment. Monero already have a 3rd wind right now, today, as a big investment gain. But that isn't the point and frankly I'm fine if Monero never gets another leg up.  But I do believe it will enjoy slow and steady gains from being used as actual exchange money at the retail level and peer-to-peer barter level.

I disagree. Retail is limited, banks are limitless, they are everywhere. A few more shops taking monero is not something that you can quantify easily, I have seen online a couple more places are now taking it is not a way to consider it doing fine.

It has very clearly been something that is not wanted by majority of people, only a few people who are insisting on monero to stay alive is still using it or trading it. And while it could have ups and downs, it is not going to have the volume or adoption that much.

I"m not entirely following. Are you saying that Monero, or perhaps money in general, is primarily for the purpose of currency exchange (a redundant definition there), derivatives, securities, or other financial services, but to be ignored entirely for the purpose of trading and bartering goods? If you're saying its of lesser importance, then why ignore retail acceptance entirely, which is the entire point I started the thread? I think there are different purposes for money, and retail trade is by far the most important purpose, whether or not the largest volume of money exchanged. Countries have functioned well enough without a large-scale banking industry, but have not functioned without any barter, except in small tribes.

[Abiky]

The number of people who really care about privacy, that is the number that makes Monero more or less important against other Cryptocurrencies.  There is no point in holding a private Cryptocurrency if you do not care about being private, right?  Unless it makes them a TON of money which while Monero has made a lot of returns, it still is behind Bitcoin overall.

Monero is ready to perfectly serve its use case.  But people still do not feel the need Monero serves.  I hope one day they will, because if we do not start caring for our privacy then we are pretty much all going to be screwed in a matter of years with most of our information leaked out all over the internet and zero legitimate reasons to ever want a private moment, conversation, call et cetera because if we all stop caring, the ones who care become very dubious.

Most people have nothing to hide, so why would they bother using Monero for privacy? What the masses want is to make money with crypto. And what better way to do so than riding the hype? When the privacy coins hype took place, Zcash and Monero's prices began to rise like crazy. Not because there was demand for privacy, but because investors were following the hype. Unlike Zcash, Monero is often rejected by centralized exchanges and governments alike. Why? Because it isn't "regulatory-compliant". In Zcash, you can have both a shielded address or a t_address (which stands for transparent address). This allows exchanges to easily accept ZEC deposits while complying with KYC. There's no single CEX which accepts shielded transactions. They hate privacy/anonymity.

Despite the backlash on Monero, adoption is still rising behind the scenes. It's moving forward at a slow and steady phase. As long as Monero makes the difference by being a truly-decentralized and private coin for the public, nothing else matters.