Bitcoin dominance: bad thing or good thing?

wxa7115

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Quote from: bitbunnny on November 16, 2018, 09:37:01 AM

I don't see anything wrong in Bitcoin being dominant.
It's the oldest, strongest and most valuable cryptocurrency and it deserved to be on a throne. Afterall, it took this place because of the users who suport Bitcoin through all this years and huge progress it has made.
On the other hand market is open and every other coin has the opportunity for success although I truly doubt that some other coin will ever achieve such success.

People just want to complain that is all, they want their favorite projects to have huge market caps without really deserving it, it is very easy to wish that the projects in which you invested go up in value but if they do not have anything to offer to the community then I do not see why that should be the case and the market agrees with me, there are thousands of coins out there but only a selected number of those coins are appreciated by the community as a whole.

And this happens because most coins are just copying what other people are doing without really integrating any kind of innovative ideas to their projects that can make them better.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

I don't see anything wrong in Bitcoin being dominant.
It's the oldest, strongest and most valuable cryptocurrency and it deserved to be on a throne. Afterall, it took this place because of the users who suport Bitcoin through all this years and huge progress it has made.
On the other hand market is open and every other coin has the opportunity for success although I truly doubt that some other coin will ever achieve such success.

eth_slave1

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Quote from: HumberWins on March 07, 2018, 01:24:02 PM

For now , i think it is the best situation for crypto market is to le the bitcoine be the dominant , because the team behind it have alot of experience , so the can handle every problem the crypto market face

I don't think Bitcoin will be dominant for a long time from now. It has had it's time, it's only natural for it to leave the stage and let others shine. 2019 will be year of lots of coins shining IMO, I won't be surprised if XRP or even ETH supplants BTC. Or maybe MFX - even though they may be fairly new. 2019 is definitely a year to watch out for in the cryptospace.

wxa7115

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Bitcoin dominance by itself is not good or bad it is just a number that we use to measure how much of the money invested in the market is invested in bitcoin, that is all, personally I would prefer that number to be low not because I want bitcoin to be weaker or to disappear but because that will mean that there are many good projects in the market that deserve our attention and that are competing for the money of investors, unfortunately we know that the number of good projects in this market are very low.

That is one of the main reasons of why we are seeing a bitcoin dominance that is so high despite the fact that there are thousands of coins in the market and I do not see this changing in the next years.

omonuyak

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Bitcoin is like the apes bank to other coins and it is a pioneer Cryptocoins and therefore this dominant should not be our concerns now as I see that we are still at the early stages of cryptocurrencies development. Bitcoin dominant is going to reduce when coins like ethereum, litecoin and zcash started to pull fund from it. We are currently at a stage were we have to used bitcoin to do many things in cryptocurrencies market and one days will come when we would began to see beauty in other coins.

YuginKadoya

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If we compare each coins dominance everyone knows that bitcoin has a greater scale and a well-known persona in it other than the Altcoins that have a so much number, We can really say that bitcoin doesn't have to do anything at all to say that it has an aura of dominance, Compare to the other coins that are Altcoins,

We can say that Bitcoin doesn't need anything particular for the investors to get involved with it, They surely recognized bitcoin even in a bearish market, But Altcoins will keep on struggling in the market and needs the support of bitcoin to increase its price.

Hilly

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It can be good for the long term but bad for the short term. The higher the bitcoin dominance is the less bull market there is, I mean not potentially or in the future but at the moment. If there is a bull than the dominance falls because all other coins skyrocket a lot faster than bitcoin. Coins that go x10 easily and even more, however in a bear market the dominance is sky high because those coins can also go down a lot further than bitcoin can. There are coins that lost %98 of what they were a year ago. Which means if you see bitcoin dominance high that means you are in a bear market with altcoins low, if you purchase those altcoins (be careful about which ones) than you can really make a big difference on your future profits, just check out when the dominance goes down and you will see your profits go up.

Mhd-Bobbi

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Quote from: Randolf007 on March 07, 2018, 11:44:28 AM

As of right now, the bitcoin dominance returns to over 40%, but the market is a lot slower than just a couple months ago.

How we believe the Bitcoin price will continue to rise for the foreseeable future?

No one can guarantee an increase in bitcoin in the future, maybe we will remain patient with the situation from the previous month and today, I continue to look at the sales chart to date, and hopefully the increase is in line with my expectations.

Clavulanic

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Quote from: liuqi on March 08, 2018, 12:48:15 AM

Quote from: Randolf007 on March 07, 2018, 11:44:28 AM

As of right now, the bitcoin dominance returns to over 40%, but the market is a lot slower than just a couple months ago.

How we believe the Bitcoin price will continue to rise for the foreseeable future?

Bitcoin is the father of cryptocurrency so it will rule the crypto market. If you think Bitcoin is dominate the all other altcoins yes because other cryptocurrencies are alternative currency this only the most recommend and trusted cryptocurrency so all are investing in Bitcoin it will always raise continuously nothing to stop the Bitcoin growth.

I see how bitcoin grows and through the years it only gives hope to people who want dreams to come true. Its dominance is not a bad thing because it shows how a person to become independent and confident in the world. The world of cryptocurrency to be exact but on some reason it makes bad in the eyes of others for they believe in fake information about bitcoin what's good in it is bitcoin is getting stronger and bolder crypto.

malikusama

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Good for loyal bitcoin users and bad for altcoin investors/users.
As like the price, bitcoin dominance is also fluctuating due to the manipulators and altcoin investors in the market, dumping of altcoins results in the increase of bitcoin dominance and market cap.
Spreading of blockchain and bitcoin knowledge around the globe is the reason behind our believe that bitcoin will continue to rise more in future.

cellard

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Marketcap has never been a reliable way to measure where things at. It's a waste of time to be honest.

Ripple isn't even a cryptocoin but some paypal token, it shouldn't be there.

There are tons of coins with big marketcaps and no liquidity. Any jackass can release their own altcoin with a billion tokens on day 1, he buys 1 token for 1 dollar, now suddenly coinmarketcap lists his coin as a billion dollar marketcap token. It's a joke

All things considered, if you consider shitcoins are scams, Bitcoin dominance is around 80%.

dothebeats

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If we're talking about the price of bitcoin, then for me, bitcoin's dominance is a good thing since it will also dictate the dependency of traders to use bitcoin as a highway to purchase their much needed cryptocoins, and that also increases demand, which would further increase bitcoin's dominance over other coins which would then result into a much higher price. I for one think that bitcoin's dominance is not that important, seeing that people still sell their bitcoin in exchange for alts and the dominance (of bitcoin) tends to wear off after certain alts perform well price-wise, only to come back to bitcoin after they milked the hell out of an alt.

gentlemand

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Most of the alts are so stunningly worthless that I'd regard an increase in Bitcoin dominance as a signal that rationality is returning. A white paper and a few promises reaching billions of dollars of fictional market cap was a classic bubble indicator, let alone $3 Ripple.

If most of them were doing real things in a real way I wouldn't regard BTC dominance as important but it really appears that little has been learnt since 2013.

Mainman08

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The supporters is the key why bitcoin dominate. It is more popular than any other coins so it attracts more investors than the other. But as of now its value is getting lower again.

Randolf007

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Adonx.one

Quote from: magneto on March 08, 2018, 03:01:12 AM

Quote from: Randolf007 on March 07, 2018, 11:44:28 AM

As of right now, the bitcoin dominance returns to over 40%, but the market is a lot slower than just a couple months ago.

How we believe the Bitcoin price will continue to rise for the foreseeable future?

Bitcoin dominance has risen because it's supposed to be at around the 50-70% region but instead, with other cryptocurrencies rising in value in the past few months it has actually resulted in an undervalued bitcoin compared to other cryptos.

Now, this trend has reversed. It's simply an index which means that it rising only means a reversion to the normal level where it should be imho.

We saw this huge dump down to under $10k in the past two days which can be mostly attributed to some pieces of news coming out concerning certain exchanges which has hit people who are panic selling. I expect bitcoin dominance to continue to rise during and after this dump because people have more confidence in bitcoin in the case of a semi-bear market than other cryptos, to around a level of 55%.

so do you think, bitcoin is very closely related to many people.? and the future level of confidence in bitcoin will continue to increase, and will always dominate the market in the future.?

Randolf007

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Adonx.one

Quote from: Budugbass on March 08, 2018, 02:39:25 AM

And nevertheless it will lead to good or bad.. which clear it's influenced by many people in this world also the other developments of life related to cryptos. It's good if we keep thinking more positively and try to directing it to a better side in the sense of optimism. For me, i'm still sure it will not lead to a bad thing, in the slow movements.. it doesn't mean it's more likely to a bad thing.

So in the future that determines the development of bitcoin is the market, associated with many people. So you think, trying will not disappoint his future results.? I agree with you sir.

magneto

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Quote from: Randolf007 on March 07, 2018, 11:44:28 AM

As of right now, the bitcoin dominance returns to over 40%, but the market is a lot slower than just a couple months ago.

How we believe the Bitcoin price will continue to rise for the foreseeable future?

Bitcoin dominance has risen because it's supposed to be at around the 50-70% region but instead, with other cryptocurrencies rising in value in the past few months it has actually resulted in an undervalued bitcoin compared to other cryptos.

Now, this trend has reversed. It's simply an index which means that it rising only means a reversion to the normal level where it should be imho.

We saw this huge dump down to under $10k in the past two days which can be mostly attributed to some pieces of news coming out concerning certain exchanges which has hit people who are panic selling. I expect bitcoin dominance to continue to rise during and after this dump because people have more confidence in bitcoin in the case of a semi-bear market than other cryptos, to around a level of 55%.

Budugbass

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And nevertheless it will lead to good or bad.. which clear it's influenced by many people in this world also the other developments of life related to cryptos. It's good if we keep thinking more positively and try to directing it to a better side in the sense of optimism. For me, i'm still sure it will not lead to a bad thing, in the slow movements.. it doesn't mean it's more likely to a bad thing.

Randolf007

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Adonx.one

Quote from: pooya87 on March 08, 2018, 12:58:24 AM

it is neither!

the dominance is what altcoin pumpers have been advertising to show their relevance in this world where in fact what they are reporting has nothing to do with "dominance" it is the total market capitalization which is being bloated each time a shitcoin with a huge supply gets pumped or a new shitcoin with a huge supply is created.
for example you can see Ripple which is worth only $0.85 but it has 20% of bitcoin's market cap (bitcoin that has $10,000 price)!!! this shows how dumb market cap and comparing it is.

So move forward that determines bitcoin is the market. ? But the market will determine the great results. Sir?

Randolf007

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Adonx.one

Quote from: liuqi on March 08, 2018, 12:48:15 AM

Quote from: Randolf007 on March 07, 2018, 11:44:28 AM

As of right now, the bitcoin dominance returns to over 40%, but the market is a lot slower than just a couple months ago.

How we believe the Bitcoin price will continue to rise for the foreseeable future?

Bitcoin is the father of cryptocurrency so it will rule the crypto market. If you think Bitcoin is dominate the all other altcoins yes because other cryptocurrencies are alternative currency this only the most recommend and trusted cryptocurrency so all are investing in Bitcoin it will always raise continuously nothing to stop the Bitcoin growth.

So, bitcoin will continue to grow, right? and altcoin will always follow from behind and will not exceed the father of cryptocurrency ie bitcoin .Mr. ?

Topic: Bitcoin dominance: bad thing or good thing? (Read 312 times)