the main problem with the BETI as I mentioned earlier in this thread is it needs to account for the dilutional effect of all other crypto's
A rough real BETI would be BETI x BTC market dominance.
A rough real BETI would be BETI x BTC market dominance.
Yes, that has an effect, but does not change the overall form of the graph , unless BTC loses its dominance entirely (ie below 30%, say).
A loss of dominance for BTC is only likely to happen if another crypto were to take its place in the adoption order.
How are you measuring dominance, Majormax? Surely, any of us would need fairly genuine kinds of ways of attempting to measure dominance such as usage of the coin or trade volume or even some kind of value that might be gotten from the number of coins that are being hoarded rather than something like marketcap that has demonstrated itself to be manipulated and amorphous bullshit. So, sure if we are able to get some meaningful comparisons as to how to measure dominance we might be able to come to some kind of meaningful assessment whether either bitcoin is losing its importance or whether some other coin or project might be taking its place.
At this particular time, there does not really seem to be any project, coin or asset that has any kind of meaningful semblance in respect to either taking market share from bitcoin or replacing its usefulness in some kind of meaningful way.... Yeah, sure we see all kinds of activity in connection to some of the latest crazes that want to remove some people from their money, such as NFTs, and so we cannot completely poo poo the concept that there is some value in using various networks and coins to scam people, and sure some of those practices could end up coming to bitcoin or getting pegged to bitcoin, too.
So I guess my point would be whether any of bitcoin's supposed loss of market share that is measured from time to time or taking over of other coins or projects are really offering anything competitive or meaningful in terms of what bitcoin offers, so in that regard, there could be ways of measuring bitcoin's loss of dominance or the supposed competitiveness of other projects in ways in which bitcoin is down to 5% or 10%, but the comparative measures have hardly any meaning in terms of what is actually being provided.. in the case of bitcoin we should recognize soundness of money, abilities of individuals to personally control their value without third parties and immutability features to be decently important in the ways that bitcoin continues to remain distinguishable from any other projects, coins or asset classes that might claim to be taking market share from bitcoin.
By the way, I do feel that I might be rambling a bit outside of the topic, but surely I did have some feelings of missing you in recent times, Majormax. Just having some feelings of wanted to harass you a bit in my recollection of your historical gravitations towards conservativisms in terms of bitcoin's upside potentialities that may well be skewing some of your analysis of what is possible in terms of bitcoin, what distinguishes bitcoin from other projects and assets and surely some of our historical discussions involving whether the correct comparisons are being made with bitcoin as compared with other assets or other cryptos.
