Topic: [2018-09-12] Bitcoin Dominance Eyes 60% as Ethereum Price Flounders - page 2. (Read 415 times)

Some projects will finally die. It is quite probable that the small projects that have collected some ETH in their ICO no longer have sufficient balance to continue investing heavy in marketing and deceiving some users spreading false news in social networks.

We had too many projects, too many tokens. That did not serve for anything.

Yes. What is the problem with it and what exactly should I open my eyes to?


Because you said all Eth was nothing but a speculative tool, which is incorrect. The exact same is more true of bitcoin, but eth has the added value of things like smart contracts. Bitcoin just has the brand name and fanatics and hypebois behind it hoping that one day it will actually recover to become profitable for them.  


Any other currency could become the 'reserve' currency. Bitcoin is currently only more popular because it was the first. The big issue with bitcoin is that a lot of its value is based on speculative hype which relies on new blood to prop it up but once they panic and drop out the bubble quickly bursts.


So is practically every other coin including eth.


Bitcoin is currently a terrible store of value. It lost over $10k within months. That's not something to boast about.


That's pure speculation, but if bitcoin tanked to zero there would be another coin that would replace it. Bitcoin offers nothing else that any other coin can't and is one of the reasons why bitcoin is very risky to me. There's no good reason why bitcoin can't lose market dominance very quickly and be usurped by a new or even existing coin, especially if it has more benefits than just a speculative asset.

The price dominance of Bitcoin is giving a wide gap between it and other cryptocurrencies that even if they are all falling down in the market it is pretty tempting to exchange your BTC to the likes of Ethereum or even XRP. The price margin being bigger is ideal for people who have not shifted their money to Fiat and is still currently holding a falling asset like BTC because you will still get more cryptocurrencies in return as the price dominance of BTC is bigger compared to other cryptocurrencies such as ETH which is falling down at a much faster rate.

Those anticipation was still fresh on my memory where ETH fans do really have that confidence about that flippening but that thing didnt happen but somehow it do really give out some close percentage gaps
when it comes to dominance.If im not wrong these are the possible nearest point between btc and eth:

Yes, Bcash people were also talking about their own flippening, and probably still talk now, but they are just being delusional, because Bcash price was nowhere near close to that, while ETH had 30.63% dominance against Bitcoin's 37.82%.

You're right, ETH is not going to die anytime soon, unless maybe it's competitors will roll out some new tech that is objectively better, which I doubt. Maybe Ethereum can even be useful without decent scalability for some smart contracts that don't require frequent transactions. It's too early to call doom/moon now, because in terms of software so many things can change in a couple of years.

Perhaps you need to open your eyes. Did you ever attempt to use Ethereum?

And take away Bitcoin's payment system? Why would anyone discard an aspect of Bitcoin that's actually being used?

Bitcoin is the reserve currency of the whole crypto industry. It's actually being used as means of exchange. It's being used as store of value. Bitcoin is the sole reason altcoins have an indication of value at all. If Bitcoin wasn't used as benchmark, Ethereum and all other coins would be valued at least 75% below their latest exchange rate.

Crypto currencies are such things where you never know what is going to be next. I had very big expectations in Etherum and I still have, but now I'm full of doubts. Couple months ago I've got a Eth payment per some promotion job on social media and that time Etherum costed around 600$ so I decided to keep it in Eth with expectation that the price will go higher. This days I'm often thinking that I should to sell those  4 Eth immediately or to buy bitcoin, cause of Eth fuel almost three times lower during a short period of time, but Btc didn't loose too much if to see in percentage.

I don't think this is true at all. You can't discount smart contracts as that is where its value lies. Surely you could just as easily say speculation is all bitcoin has as well. You might as well say take away bitcoin's mechanism as payment system and what do you have left? Well bitcoin being a payment system is pretty much its bread and butter much like smart contracts is to eth.

Ethereum has nothing other than speculation to back it.

ICO's are what made its price explode in 2017, and ICO's are causing its price to implode right now. As for the smart contracts, it's just a bunch of utter nonsense. If you look at the distrubution of use on the Ethereum platform, then it's 95% fraud and speculation, and 5% actual use. 5% actual use in no shape or form is enough to have Ether be worth even $100 per token.

In the end, projects operating on top of Ethereum can't pay their bills in Ether. They need cold hard fiat in order to operate. Ethereum is going down quite fast, but it's nothing to be surprised about. I think it will bounce back up to a certain degree eventually, but it will be very hard to gain back its previous dominance with other platforms being around, which at the same time are 100-1000x more scalable. Sorry Ether, you failed. Vitalik doesn't even care.

Ethereum's drastic fall recently is quite surprising to me as ETH actually seems to be one of the coins with at least something behind it with smart contracts etc. Does anyone know if there's any accepted reasons why it's fallen so much? Haven't really seen any bad news that could have caused it so I'm quite baffled by this drop.


Wasn't that Bitcoin Cash? Regardless and like I said above, I thought that if any coin would gain any ground on bitcoin or come to rival it would be eth. I still don't think eth is over and far from dead and it'll probably bounce back at some point though.

Remember how in the last year Ethereum fans were anticipating "the Flippening" - a scenario when ETH marketcap surpasses Bitcoin marketcap. For a few days a lot of people seriously believed in this possibility, but now, a bit more than 1 year after, crypto community seriously discusses how Ethereum is going to die soon. Everyone should take this as a lesson of how a common sentiment is never a good indicator of the future and how volatile and experimental the world of cryptocurrencies is.

This is really a bloody bath for almost all altcoins, while BTC is still keeps its position above 6000$ some other coins experiencing a perhaps the worst days of their existence. In case of ETH situation looks pretty bad, only in last 30 days it is fall from 320$ to only 170$ and it keeps going down. It is therefore not surprising that BTC dominance going up and it is close to 60% ( currently 57.9% ), and it is just showing that people trust is most in BTC.

However, although the situation may seem dramatic for some observers and holders, for some others this is great opportunity to invest, assuming they believe in recovery of crypto market in future.

The recent fallout in altcoin prices, particularly ethereum, has boosted bitcoin’s dominance of the crypto market, now commanding nearly 60% of market share.

As of today, bitcoin holds 56.72% of the market compared to ethereum’s 12.62%, according to CoinMarketCap.

Bitcoin’s price woes of the past month have not been enough to compromise its market dominance, largely because ethereum’s struggles have been disproportionately fiercer.

None of the other altcoins have been a factor in the historic bitcoin/ethereum rivalry for crypto market dominance, a rivalry that has consistently favored bitcoin.



The orange line presents bitcoin’s crypto market share while the dark blue line shows Ethereum’s. Source: coinmarketcap.com

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