Topic: [2017-11-13] Bitcoin retains its crown as crypto king - page 2. (Read 7749 times)

I agree. Just like facebook, even there's a lot of issues and complains about it, people will still stay because its huge impact to people will stay forever. Unless someone has a great power to manipulate this situation and make another altcoin to steal its crown.

Yes, bitcoin stays on top, but it becomes too expensive and slow. There are many alternative coins that are now better than bitcoin. This in the future can be a serious problem for bitcoin

BITCOIN never lost its throne...we all were expecting a downfall in BTC price after hard fork on Nov16. But as Segwit2x canceled crash is more worst. Its just a fomo move....nothing to worry about that. People start BCH, just for no reason, Just like panic selling...it was exciting buying. Neither panic nor excitement remain for too long. Effect soon vanished...again train is on right track.

When did you broadcast that specific transaction? If you did that today or one of the previous days your transaction would have been set back by the large volume of spam transactions that got broadcasted on the network. Right now the median transaction fee is about 100,000 satoshi's, around 6.5$ right now (according to https://bitcoinfees.earn.com/). This is still very high but a lot better than the $25 fee you paid. The $65 you paid to get your money to your bank account has to do with the service you are using. I'm not updated on the normal prices but you might want to consider switching to another service provider that doesn't charge a fee of 16%.

I really like bitcoin and even I'm glad btc keep they throne. I had to pay $25 of fee just to transfer $400 and to make matters worse I even paid a further $65 of fee for the money to arrive in my bank account , it made me wonder:if I wanted to pay for a coffee that costs $ 2, what would it be like? Should I pay $2 for coffee plus $25 for a fee, $27 total just for coffee.
must find a solution to these problems

Bitcoin can't gain something that it never lost, period. I never even pay attention to the global crypto currency market cap for the simple reason that it has no relevance at all. People act like Bitcoin's market dominance in percentages is something important, while in reality it's not. People shouldn't forget that crypto in its entirety is booming, and for that reason, Bitcoin's 'market cap dominance' was destined to decrease. There is no reason to act like something groundbreaking happened. Important factor is that there are many hundreds of altcoins being part of the total crypto market cap, and that against Bitcoin on its own.

If the word regained means something to you,, I don’t know if that really can describe about cryptocurrency and it’s prices.. It was never been overthrown by any other coins(altcoins,,fork coin) so in the first place this should be no regained position from this to that.. For the longest time it was and always be the king even in virtual and into real life investments..

It would be a stretch to say that Bitcoin 'regained' it's throne. It was never in doubt that Bitcoin was the king. There are issues regarding scalability, but Bitcoin does have the largest user base. Only of there was a prolonged dead lock would people start to move away.

Usually these kinds of price moves which one day Bitcoin fall big time is due to a massive profit taking and obviously they took advantage of the Segwit2X being cancelled as their main driver for selling. Why did I say so? Because when you look at the price you will know what I am talking about. Bitcoin quickly got back up from where it fall that shows that people who sold down Bitcoin are already re-purchasing is back at a discounted rate, this is an obvious play by them.

Bitcoin today rather being a currency is largely becoming a store of value. People are parking their dollars in Bitcoin to save them from fiat inflation. This transaction speed and fees aren't working towards Satoshi's vision. Bitcoin is somehow losing the ground of being a decentralized currency system. Anyhow the popularity it has is making it popular in global financial landscape. The adoption will automatically rise. It will remain the top cryptocurrency for more years to come.

Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency

After a shaky weekend, bitcoin is king again but issues still hang over the digital currency.

Bitcoin crashed more than 25% from Wednesday's all-time high of $7,721 a coin to a low of $5,617 Sunday. During its fall, bitcoin's market cap as a percentage of the entire crypto-market dipped below 50% for the first time since early October, according to CoinMarketCap.com.

Bitcoin cash, on the other hand, witnessed an impressive rally that propelled the coin to a record-high of $2,500 early Sunday morning.

By Monday morning, however, the situation was flipped.

At 9:40 a.m. ET, bitcoin was trading up 10.9% at $6,544 and had regained its more than 50% command of the cryptocurrency market. Bitcoin cash was trading down 20% at $1,262 per coin.

Bitcoin cash spun out of the original bitcoin network in August. Backers of the upstart coin thought its design would better help bitcoin's scaling problem. As more folks have poured into bitcoin, transactions have gotten more expensive and slower on bitcoin's network. That's made it difficult for bitcoin to mature and truly rival the scale of larger incumbent payment systems such as Visa and MasterCard.

AllianceBernstein noted some of the issues facing bitcoin in a note out to clients November 10.

The financial services firm test drove bitcoin to compare it to similar networks, like PayPal. The firm didn't think the coin was able to hold a candle to its reputation as a quick and cheap way to send money internationally.

"The bitcoin transaction required more steps, took more time, and was less intuitive than traditional services," the note said.

"The process of using bitcoin was significantly more complex and less intuitive than using traditional cross-border remittance service," the firm added.

Despite these difficulties, bitcoin's command of the market gives it a huge leg up over its rival cryptocurrencies.

Matthew Goetz, the founder of cryptocurrency hedge fund BlockTower Capital, told Business Insider that bitcoin's massive scale would require a competitor coin to have substantially better capabilities.

"It's something like Facebook," Goetz said. "If someone creates a new Facebook that has slightly better features, say 10% better. That's great, but network effects are strong. So, that new thing isn't going to kill Facebook."

Out of the more than 1,000 cryptocurrencies in existence, bitcoin appears to be getting the most attention from traditional Wall Street firms.

Two of the largest exchange groups in the world, for instance, are preparing to launch bitcoin futures in the short term and big trading firms have indicated they would provide liquidity to such a market place. 

source: http://www.businessinsider.com/bitcoin-price-up-but-issues-still-hang-over-the-cryptocurrency-2017-11