Topic: Bitcoin domination era is over? - page 5. (Read 1069 times)

So far still has the highest value coins out there in the cryptocurrency world so meaning it is still the most popular coins in the cryptocurrency which is known by the public. And besides the price has not yet decreased 10,000 USD so it is very much a competitive price which can cope up with the other currency out there.

It isn't completely over it still has 37% which is still lot but yeah as alts are surging the only way to still buy these alts is through btc in many countries , exchanges do allow usd or local currency trade but majority still buy btc first.
The dominance will fall further the it won't go below 30% not to forget btc is still the best investment for new investors.

I do not think bitcoin is going down the drain, and it may retain its first place, but the overwhelming domination is over. I think there will be several cryptocurrency niches. Bitcoin may be a good investment instrument, but it is not a viable payment system. Ripple may take this role, and some time it may even become no. 1 by market cap.

The price bumps and dumps are temporary with bitcoin so the price correction was done after huge price bump from the last three months now the price of bitcoin stable and started to increase so bitcoin is still dominating the crypto market and it will be forever too.

I don't think that the bitcoin domination ever will end. It rise a lot too quickly and hit investors confidence. There is no way to know if this is a bubble or not. Also the reactions of the market is very news I think so. But i think sooner or later the price of bitcoin will stabilize and nothing can take it's place.

I dont think that we are seeing the end of bitcoin domination era, bitcoin is a strong coin that many people are investing in it and ripples sudden explosion is only a bubble, people find alternative when a product faces many problem but in crypto currency bitcoins problems has many solution in the weeks to come.

Nah, actually as long the price of any alternative coin is not equal or much higher than bitcoin then it all just one more speculative view without a totally possible future. When we talk about cryptocurrency we could only think one as the ultimate number on top out of all, and that is bitcoin and I doubt it would be replace sooner than a 30 years from now time lapse.

Who cares? Just watch the Bitcoin supply growth diminish, all while Bitcoin remains the "name brand" coin. It is already an appreciating collectible, destroying the US dollar in competition.

You people focus way too much on functionality. Speculative purpose, digital gold (much better than gold), and name brand are very viable factors.

*If it were about pure functionality, BTC would long be gone from the top 10 - not even close. People don't really care though.*
I can guarantee you the average American crypto investor has no idea what Blockchain is, or even a rudimentary understanding of the technology behind most (any?) of these coins, at least. I can't guarantee other countries, but America I can.

LN will of course make transactions very viable, adding something on top of that.

People would rather hold "the original" BITCOIN rather than RIPple, a cold functional coin which the bankers hold a massive supply of.

Also, don't buy XRP. XLM is much more undervalued.

I agree with that.  The only thing the LN will achieve, is a banking layer.  Yes, it will be a good idea to have a LN channel to your preferred exchange, which will become your bank.  And yes, exchanges will be part of the LN and you will be able to transact amongst customers of different exchanges.  And yes, they will impose KYC/AML, you'll have to provide ID and everything and they will demand fees and costs and know everything about your transactions: exchanges will become your bank.  
It DOES have the advantage over normal banking that they cannot confiscate your money, and that they can't go broke and take your money, that's (almost (*) ) true.  But all the rest of banking will be the same: they can stop transactions, they know your transactions, you'll have to pay costs and fees and so on.

(*) almost: because if a big exchange goes broke, there are too many LN customers linked to that exchange to be able to settle on chain within the allowed time frame, so there will be the equivalent of a banking run, but for block chain room, and fees will probably rise over the value of your holdings.  After that time frame, the exchange can still run with your money.  In other words, the only cases where the LN would protect you when a normal banking crisis wouldn't, it doesn't work with small  blocks.

Remember the silliness of small blocks: so that Joe can run his full node in his basement with a small hard disk.  Well, if Joe does 3 transactions, he has to pay as much in fees as would have cost him a 2TB disk.  And if it continues like it is going, soon, Joe can even buy a new PC and his wide band connection for the price of 3 transaction fees.

Well, it is quite the opposite.  I can't use bitcoin any more on Openbazaar.  I'm not going to pay a fee of $30 for something that's worth $15 and not even be sure that the transaction will be processed.  When I want to buy some coins, I take fiat to an exchange, and I'm not going to get out bitcoin, but rather something like litecoin or ethereum to my wallet, to put this on a crypto-only exchange where the coin is available.  With bitcoin, I would need 2 transactions, costing me $60 or so.   Bitcoin is simply unusable, unless for very big amounts of several $1000 so that the fee doesn't matter much.   The ONLY thing you can do with bitcoin, is keep it.  You can't seriously use it any more.  Almost all other big altcoins are better at that: faster, more reliable (no big mem pool) and cheaper.

The fact that the simple Segwitx2 was "too hard to implement" (LMAO: simply changing a parameter) killed it for me.  Clearly, bitcoin is going all for banking (LN) or nothing.  No mere mortal shall transact on chain, only whales will.  That's a great idea if you're the monopolist.  That's a much worse idea if you're losing market share and the competitors are better.

If you think so better if you sell your Bitcoins and then buy Ripples then let see if your speculations are true. No one can stop bitcoin that this temporary crash is just an isolated case in which people are selling their bitcoins because of the holiday seasons so better you buy much more today because bitcoin now is slowly rising up.

Not at all. Do not make up your mind of the last couple of weeks alone.

It's not that far away, as we speak Ripple just broke $100 billion so BTC is only 2.5x higher at this moment, if Ripple keeps ripping in 1-2 weeks Ripple will be nr 1. Who will care about Bitcoin then, if it's not even nr 1 coin anymore and failed as a payment system ?

ripple still far away from bitcoin and even ripple is exploding, bitcoin still be the adjustment for ripple and another coin as we know bitcoin is in the top position. although ripple increase in the price, it doesn't give too much impact for bitcoin and even if the bank wants to adopt ripple in their system, I don't think it will make bitcoin domination is over because people still know bitcoin as the top of cryptocurrency and they have a big chance to make money with bitcoin than ripple.

I don't really see a future for bitcoin. Its block chain technology doesn't scale well and Lightning Network, I just don't see it working other than in a really centralized environment, but banks seem to prefer Ripple so I doubt they'd adopt bitcoin.

Btcoin still dominating, and right now a lot of users swift to alt to look for profit not using it for do transaction, they just used it for trading, and in my opinion there will be no alt coin that can take bitcoin place yet, even xrp is exploding but we know that with that high speed growth it will have a great correction

No not at all mate, it doesn't seems like that.
Market is still dependent on Bitcoin, a few thousand dollars increase in bitcoin price can ruin the whole market of altcoins.
Ripple is no doubt one of the best altcoins but don't compare it with the king of the cryptos, the dominance of bitcoin is still there, your perceptions are not really true.

Bitcoin still has the most confidence among new investors. Even with the growing altcoins position, perhaps the btc will still dominate.

Bitcoin has died many times, but it was the crypto monopolist.  As crypto wasn't going to die right away, bitcoin revived.  Bitcoin lost its monopoly this year.  It went down from an >80% market dominance (that's a monopolist) down to the 40-60% market share.  In reality, bitcoin's true market share is lower, because about 20-25% of the bitcoins counted in the market cap are non-existing (keys lost, can never participate in a trade any more, hence don't influence price).  So in reality, at this moment, bitcoin's market share in market cap is of the order of 30% or lower.  It is still the market leader, but not the market monopolist any more.
This number is, moreover, entirely credible when one looks at bitcoin's market share in *volume*.  Bitcoin has, at the moment of writing, about $16 billion volume while the crypto market has $41 billion volume.  That's a big third too.

Bitcoin is about the most clunky coin out there, with crazy fees and forever limited blocks, but it has one hell of a brand name.  In fact, that brand name is all it has, but bitcoin's value being a recursive belief system where the name is all it is, that's a hell of an advantage.  I wonder how bad bitcoin will have to become technically before the brand name cannot make you forget it clunkiness.  Bitcoin's energy consumption is now that of a small European country.  If you're a newcomer to bitcoin, where you are going to be your own bank, you'll have to pay a month worth of unlimited internet access to make one single transaction (for instance, between two of your own addresses), and if you're not generous, you will wait until tomorrow to know if the transaction took place or not.  Welcome to the smooth world of advanced finance.  Do the same with, I don't know, monero, litecoin, ethereum.... and for a much smaller amount of money, you have done your thing 5 minutes later.  You wonder how this dinosaur is still the market leader.  And then you realize: all this is just a name game, and bitcoin is one hell of a name.  There's nothing "real" in this.  You're not really going to pay your coffee with bitcoin, like the propaganda books sold it 5 years ago.  You're most probably not even going to use an expensive bitcoin wallet.  You're just going to buy some on an exchange, and hopefully sell them again for a benefit (which will be paid for by another guy doing the same but with less luck).

40 percent is still massive for bitcoin and if it reduces its a sign of growth for the crypto market which should be seen as a good thing and not going doing the drain.

Bitcoin is still dominating compared to other altcoins which are collectively  over a thousand of them and still growing in numbers