Post
Topic
Board Altcoin Discussion
Re: Why is Monero so unpopular?
by
d5000
on 17/02/2024, 05:59:39 UTC
For me personally I found it back years ago and couldn't be bothered with trying to figure out how to use it (I was fairly new to crypto when monero came out).  The harder something is to use then the less popular it is.  Because generally speaking most people even now don't exactly know how crypto works so they stick to the "easy" coins.
Maybe at that time you used Monero light wallets like Feather or Mymonero weren't out?

Above all Mymonero is not more complex to use than most other cryptocurrency wallets. At least if the only thing you want to do is to invest, hold and transfer Monero. I think it's even easier to use than most Bitcoin wallets, including light wallets like Electrum. Of course, if you want to protect your privacy and use one-time stealth addresses, then there is a small step you need to learn to do but it is really not that bad.

Nevertheless I prefer Feather because it is more trustless (you're verifying blocks yourself, but don't have to store them).

In general I think that currently the price is low because some of the short-term investors at Binance went away for obvious reasons. But there is currently a growing ecosystem of no-KYC exchanges, P2P exchanges and atomic swap platforms, so the equilibrium between supply and demand should be restored eventually. This doesn't mean that Monero will instantly return to its previous price, but I expect a slow but constant recovery.

Three days to go and Binance's influence (I don't know about market manipulation, but the delisting situation creates selling pressure itself) on XMR will be a thing of the past.