BTC dominance halved | Bitcointalksearch.org

preditor422

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

I totally agree with you as we can understand that bitcoin is the core of the cryptocurrency and has dominated this market from long time,Infect this market started with bitcoin only but one think everyone needs to understand that no one or nothing is invincible and everyone has its own time and after that time he needs to step down in decent language we can say Retirement.Bitcoin has to retire from this no.1 position and Another coin has to take that position.Right now it is only ETH who has shown this much promise and this would not be easy for ETH at all.But it is high time people accept this reality.

capoeira

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you can't realy make calculations with the total market cap of all cryptos. most of the alt coin caps is not bought with money but BTCs

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Quote from: Kunlejoe0 on January 31, 2018, 01:45:01 AM

Honestly speaking it has started looking like bitcoin may have to seriously fight for it's number one position in the future. Many altcoin are catching up to bitcoin even surpassing it in terms transction , security and speed. We are going to see suprises in cryptocurrency market soon.

We can't avoid this to happen as cypto coins really doing progress where bitcoin can be overtaken by another project in terms of new offers, with speed, fees and more advancement for sure it will attract investors and it will bring a good competition behind this industry, bitcoin movement as of now really
a basis where the market will go, but sooner or later there will be another crypto that will also dictates its own destiny.

ASHLIUSZ

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Bitcoin dominance still found, but there are altcoins that are quite stable enough than bitcoin's large scale price drop. For this reason people have switched to different altcoins. This might have caused a decline in the market capital, but the dominance over the cryptocurrency world still exists.

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Quote from: DiceChain on January 31, 2018, 02:47:07 AM

Many people have stopped investing in bitcoin. They are focused on investing in altcoin or ETH, so the downside of Bitcoin is of course. maybe next year bitcoin will be crowned No. 1

If they have stopped investing in BTC and are dumb enough to invest in ETH and other shitcoins...
Why is the value of all those altcoins going down also?

Quote from: poplolnman on January 31, 2018, 12:14:33 AM

Market capitalization could be one of top reference to see how good the product it is but of course it's not everything to decide which one the best, which one have much more functionality etc. market capitalization of bitcoin decreased due lack of development on the blocksize problem and then people looking for alternate to put their money in, we might can see how ripple climbed up, ethereum getting closer to bitcoin marketcap and tons of good altcoin grow and developed in the last couple of months.

Market capitalization means 0. Zero. Nada.

https://coinmarketcap.com/currencies/bitconnect/
2.7 billions > 80 millions in a flash

And soon enough Tether will show you another example of BS marketcap.

Even so, you're assuming that based on marketcap , Bitcoin Gold is better than Doge....why? one single reason?
And I know it's not about people accepting the coins since Doge is probably in the top 10 on that.

Good altcoins? If they are that good, just as I 've already said above, why do they follow BTC wagging tails like a neutered dog?

izanagi narukami

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Usually when bitcoin is on uptrend, altcoin will in downtrend since they adjust based on bitcoin value but for some altcoin that still uptrend then those altcoin also have high demand just like bitcoin.
As for now mostly bitcoin is on red either do altcoin , but IMO they wait for a momentum to increase so just prepare to keep Hold

criz2fer

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I think it about time that etherium can beat bitcoin in dominance. Etherium become higher this past few weeks, little by little just like what happen to bitcoin that continually increase month by month which many people dint expect to grow that fast. I think ETH will overtake bitcoin this year thats why both currency are in my list of investments.

yugyug

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Bitcoin as we say as the mother of all blockchain, decentralised currency and cryptocurrency, it is still dominate in all level of coins as it is the first being known for cryptocurrency and widely adopted than any other coins. Some alt coins has rose rapidly but can not sustain its longevity due to less community support unlike bitcoin.

DiceChain

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Many people have stopped investing in bitcoin. They are focused on investing in altcoin or ETH, so the downside of Bitcoin is of course. maybe next year bitcoin will be crowned No. 1

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Quote from: Kunlejoe0 on January 31, 2018, 01:45:01 AM

Honestly speaking it has started looking like bitcoin may have to seriously fight for it's number one position in the future. Many altcoin are catching up to bitcoin even surpassing it in terms transction , security and speed. We are going to see suprises in cryptocurrency market soon.

Why it has to fight for number one position, when the dominance is not by one single competitor. When there will be one huge project which will be competing against bitcoin prices then I guess we need to consider that seriously. Bitcoin is alone computing against the rest of all other crypto currency hence it is obviously the rest of crypto currency will take the dominance.

The market cap and the dominance of crypto world are some comparative tools other than that they will be having any significant importance for the growth of entire crypto world. So, I believe we do not need to consider the recent dominance of altcoins more serious.

Kunlejoe0

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Honestly speaking it has started looking like bitcoin may have to seriously fight for it's number one position in the future. Many altcoin are catching up to bitcoin even surpassing it in terms transction , security and speed. We are going to see suprises in cryptocurrency market soon.

poplolnman

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Quote from: richardsNY on January 29, 2018, 03:45:38 PM

Good to see that at least some people in this thread understand how insignificant Bitcoin's "decreasing" dominance is. It's pretty annoying how noobs keep thinking that a market cap is the only thing that matters, while in reality it isn't. I have seen a $1000 billion market cap shitcoin already last year, and that was before Bitcoin's bull run started -- does that mean Bitcoin has been demolished by that shitcoin? Noobs speak please.... Because if we have to believe the general faulty logic of the people here, then it basically means that Bitcoin has been overtaken, surpassed, rekt, etc.

Market capitalization could be one of top reference to see how good the product it is but of course it's not everything to decide which one the best, which one have much more functionality etc. market capitalization of bitcoin decreased due lack of development on the blocksize problem and then people looking for alternate to put their money in, we might can see how ripple climbed up, ethereum getting closer to bitcoin marketcap and tons of good altcoin grow and developed in the last couple of months.

royale143

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

For now, I agree. I may not be able to quantify it as 'halved', but I think that right now the dominance in the cryptocurrency market is shared because bitcoin's value is in a stand still, if not, decreasing. However, come the time when it catches fire once again and surge in value, I think that it will also regain that sole 'king of the hill' title it always possessed.

btcformula

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It's market rules, nothing can grow continuously. It's time for alt coin. Also people love big profit that can give alt coin now. So we need to wait for some time.

Quonelet

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

There is a lot of information from many countries regarding the Bitcoin ban in their country, which has had a significant impact on its price. But I also think it has gone up too high in the years apart, and now it goes down to stabilize its price. It will continue to go down, and I think the amount of 8,000 is a stable figure for a long time.

The_Dark_Knight

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

You are comparing one of the lowest points in market dominance against one of the highest point in the previous year, so the difference is huge, also as time passes the dominance is going to get lower as more projects that are worth our investments begin to appear, so this is nothing to be surprised about, however the day a coin could surpass bitcoin in market cap is still very far away.

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Quote from: [email protected] on January 29, 2018, 09:20:03 PM

Bitcoin is now 33% and Ethereum is 20%. The flippening will be upon us soon!

Today it has been quite tough for Bitcoin... Bitcoin under stress by bears' selling pressure, fighting on the 10K line, most alts tanking and Ethereum in full bull mode rising... Puzzling.

Jating

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Quote from: [email protected] on January 29, 2018, 09:20:03 PM

Bitcoin is now 33% and Ethereum is 20%. The flippening will be upon us soon!

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Are you serious? You are just trolling. Ripple was said to be the next top coins but what happened? They said the same about Ethereum June 2017, how did it go?

Quote from: AliCris on January 29, 2018, 11:09:40 PM

Known cases when coinmarketcap deliberately distorted the market figures. So I don't have much to rely on their performance. Bitcoin every year it happens, rollback to the previous positions. But after some time he returns. The same thing will happen this time.

Wasn't aware of such shady involvement of CMC deliberately distorted figures. Although I have seen them promoting scammy ICO's on their website.

Quote from: Kavallo on January 29, 2018, 03:48:46 PM

I am puzzled too by the meaning of BTC dominance to be so low. In fact it is an all time low, so it is difficult to find comparisons to help understanding. It could both mean that it is now time to sell alts and go back to Bitcoins, and the opposite...

For some they really blown it out about this Bitcoin dominance. With bitcoin at a top 60% no one is bitching about it. But now they are trying to make a big fuss out of it. Doesn't make sense at all.

andhovesyan

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Quote from: stompix on January 29, 2018, 08:09:24 AM

Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

No, it simply means one thing.
You should stop looking at coinmarketcap.

That site is one of the reasons why of all noobs wanna be whale traders are going to get fleeced.

What is this marketcap?
A number that is made out of thin air by companies or gangs :
-"printing" coins out of thin air and claiming they are worth 1% but refusing audits? (thether)
- a centralized coin where they can print 100 millions sell 1 for 5 and here you go....(ripple)
- a ponzi like bitconnect?
- a coin like segwit2x? (yeah there is one!!)

Those shiny numbers mean nothing.
It's not like marketshare in the auto industry where Ford can't make 1 million cars out of the blue and then sell them to itself.

Unfortunately there is no number by which you can claim dominance, as the ones that might be reliable in other markets are easily faked here.
- number of transactions? - easily faked when you pay 1 doge fee
- volume of coins moved around - easily to fake just moving coins between wallets (again with 1 doge fee)
- number of active addresses (easily faked) , 1 tx with 1000 outputs
-number of addresses with a balance > same as above

Probably the only indicator for market dominance would be shops accepting that coin...
Bitcoin Atms (2127), shitcoin one? Huh

?

Of course, you are right saying that market cap's utility is overvalued, the best example is bitconnect when market cap decreased 10 times, while trading volume was 10 times lower and I'm also agree that we shouldn't take into account centralized currencies.
But I don't think you will argue, that coins like Ehereum, Monero, Litecoin, Dash, IOTA has a real value, they are becoming more popular every day and the difference with Bitcoin started to decline. And, please, correct me if I'm wrong, but I think ETH is more stable during current dump than BTC.

semarmesem195

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Quote from: Tactical Genius on January 29, 2018, 10:58:57 PM

To me the dominance of bitcoin reducing gradually is a sign that people are noticing better options when investing in cryptocurrencies.People hear more about bitcoins but when they start investing they realize there are way better options than bitcoin and i believe with time the btc dominance will eventually be no more.

I don't think that way. It's true that overall people are looking for new coins for better and more profitable investments, but i'm not sure if bitcoin dominance will disappear (nothing). Seeing that bitcoin still occupies No. 1 in the crypto sequence is still a proof that bitcoin still dominates. Why do you just think bitcoin dominance will cease to exist? Realistically altcoin also much decline, look at https://coinmarketcap.com although there are some altcoins that rise, whether altcoins that rise it will immediately dominate? The answer is "No".

AliCris

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Known cases when coinmarketcap deliberately distorted the market figures. So I don't have much to rely on their performance. Bitcoin every year it happens, rollback to the previous positions. But after some time he returns. The same thing will happen this time.

OriginTrain

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I think once BTC finally becomes 2nd place on the market cap, this will be a great thing since it will no longer represent the trend of cryptocurrency like it currently does. Individual projects should go up and down in value based upon their own merits, and not the merit of BTC. Sooner people stop associating BTC with crypto the better.

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To me the dominance of bitcoin reducing gradually is a sign that people are noticing better options when investing in cryptocurrencies.People hear more about bitcoins but when they start investing they realize there are way better options than bitcoin and i believe with time the btc dominance will eventually be no more.

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Bitcoin is now 33% and Ethereum is 20%. The flippening will be upon us soon!

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BitHodler

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Quote from: Bolt Brownie on January 29, 2018, 04:55:00 PM

a lot of coins will probably die and BTC will regain it's dominance.

I am on the same side of the road on this. I strongly believe that all the redundant altcoins will dry out badly, all the way till where they trade for pennies and are subject to pumps by wannabe 'whale' pump groups.

There are just a few altcoins actually doing something useful that Bitcoin doesn't, and likely never will, which is all fine since it's nice to see a well progressing crypto ecosystem as a whole.

If we look at the altcoin market in terms of the general valuation per coin, then it's clear to me that the majority of the coins are actual bubbles. I don't use this term very often, but I'm gladly doing it with altcoins as main subject.

Tenderino

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I am confident that ethereum will catch up with bitcoin in regard to the market cap and probably 2018. The too high processing fees for bitcoin was a shot in the knee. The competition does not sleep and if you offer a better coin then you have of course the chance to catch up, especially if the market leader demands to high fees. I also expect that bitcoin's dominance will further decrease and go under 20%.

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

I won't say it can't happen because I can't really predict the future, but I really doubt it will ever happen. I can't really explain why BTC dominance drop so significantly. Maybe because more coins got listed in exchanges, and maybe because they got paired with tether for example, so it got easier to pump them. I won't deny bitcoin has it's problems, but do you see any use for the other coins right now?

Ripple got heavily pumped and it hurt BTC dominance a bit. A lot of cheap coins got pumped as well, maybe it was the Mcafee effect, since he kept saying that it was easier for a cheap coin to go from 50cent to $1, than for an expensive coin to go from $15k to $30k (don't remember the exact values). The truth is that you start seeing lots of cheap coins to show huge gains.

I still don't think any of those coins will surpass BTC, because of it's usability. BTC will have real use if the LN works, and as soon as that happens, a lot of coins will probably die and BTC will regain it's dominance.

Mahanton

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Quote from: UnusualLeech045 on January 27, 2018, 11:18:43 PM

Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Not possible mate. Even if the dominance of BTC had decreased, you can still see clearly that the price movement of all the alts is too dependent on BTC.

How can be so sure? Not all altcoins prices are correlated or dependent on bitcoin since some of them do have different market which means they can really stand on their own. If we do try to look on here https://coinmarketcap.com/charts/#dominance-percentage btc dominance decreased so much specially it dropped almost 30% on a short span of time but well seeing on the community that supports bitcoin we can assume it will eventually come up soon.

Kavallo

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I am puzzled too by the meaning of BTC dominance to be so low. In fact it is an all time low, so it is difficult to find comparisons to help understanding. It could both mean that it is now time to sell alts and go back to Bitcoins, and the opposite...

richardsNY

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Good to see that at least some people in this thread understand how insignificant Bitcoin's "decreasing" dominance is. It's pretty annoying how noobs keep thinking that a market cap is the only thing that matters, while in reality it isn't. I have seen a $1000 billion market cap shitcoin already last year, and that was before Bitcoin's bull run started -- does that mean Bitcoin has been demolished by that shitcoin? Noobs speak please.... Because if we have to believe the general faulty logic of the people here, then it basically means that Bitcoin has been overtaken, surpassed, rekt, etc.

mrproblem

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Dominance of bitcoin is now a traditional thing and the hardest one in the world is removing or destroying traditions.
So it is possible but a little bit hard

olubams

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Sometimes when argument like this are made I just laugh because with hundreds of coins and several hundres more as token with several more coming out on a daily basis bitcoin alone was able to corner 34% in the market while others try to get as much as they can from the remaining 66% and even the 34% is just a matter if days which might increase to any percentage in a matter of days. For that reason,, I am not bothered.

DanielRR1997

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As Bitcoin peaked to $20,000 just before Christmas last year, it was unstoppable in both its growth and dominance, but since then it has dropped away in both respects as altcoin seasoned opened up the new year. The original cryptocurrency saw its dominance fall to below 33 percent as others such as Ripple, Stellar and Tron have snatched some of the overall market cap. However, already on the comeback trail, the belief is that Bitcoin will still be the market leader through 2018.

nikjain422

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

It can happen as BTC has gone down subsequently and recovery has been quite a task right now.But i still believe the next best coin after bitcoin is way below in terms of prices and with that deficit to cover,it will be the very difficult to get into the position of bitcoin or to over that but one thing can happen and validly put in above quote and that is the sale.It has been drastic fall in bitcoin sale and drastic improvement in alts sale,there are many reasons for this but most prime one is downfall of bitcoin and also because of many options in alts for people to invest this will make altcoins more independent.

Wolfwar

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Quote from: audrey12 on January 29, 2018, 11:27:42 AM

People take alt coins as an option for investment after gaining so much trust on bitcoin and since they saw the potential of most alts the demand increases which maybe the reason why the value of most alts appreciate. But in terms of paying more attention to alts I don't think that is really the case now because people are still focus on bitcoin it was just that they need to exert much effort in choosing a good alts for investment.

The fact is that in reality a lot of users today prefer altcoin and etherium, and also try to bypass Bitcoin. Already, whoever has Bitcoin investments, expect what will happen in the near future.

audrey12

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People take alt coins as an option for investment after gaining so much trust on bitcoin and since they saw the potential of most alts the demand increases which maybe the reason why the value of most alts appreciate. But in terms of paying more attention to alts I don't think that is really the case now because people are still focus on bitcoin it was just that they need to exert much effort in choosing a good alts for investment.

qiman

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Things are looking supposedly quiet on the Bitcoin front but have a feeling that we will wake up suddenly one day and see Bitcoin rising high again and the altcoins bleeding again because Bitcoin is going up. This time we saw altcoins bleed, because Bitcoin price crashed. We will only see the good altcoin grow and survive through these very volatile times but Bitcoin even though has lost some of it's dominance still controls the market as all tokens and coins are pegged to it.

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The cryptocurrency landscape is entering unprecedented territory. I don't think BTC dominance has ever been this low, and the gap between BTC and any other coin this close. I'm also very curious to see what will happen, but I think BTC will still be the king for a long time. It's still the most widespread and easiest to buy with fiat.

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

People (newcomers and investors) have started to pay attention to altcoins because they found out they can make quick money in the short-term thanks the pump and dump schemes. "independent"? not really, take a look at the charts today, the sea of red wasn't caused by XRP or ETH, BTC went down and altcoins followed.

Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

If you mean by market cap, then yes, a few alts can take the #1 spot from Bitcoin, but other than that, alts will always be secondary.

Quote from: cpfreeplz on January 27, 2018, 11:21:37 PM

Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless.

what's actually pointless is your comment. What $10-$20 fee are you talking about? you can literally send a tx with just 10-40 sat/B fee and it will get comfirmed in the next 2 or 3 blocks.

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Quote from: cpfreeplz on January 27, 2018, 11:21:37 PM

Something will pass at some point if the tech doesn't improve drastically and soon. Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless. Once we're seeing normal tx fees again we'll see steady gains. I don't really understand how Bitcoin surged so much with all of these scaling issues, but I love it. I never complain when my Bitcoin is worth more!

Even I think that at some point of time some coin will surely bypass bitcoin because one thing can't be at the top forever. Although I disagree with the fees because the fees is not much now as it has been reduced now to 40 Satoshis per byte which is 10 times less than what it was before a few weeks. Bitcoin surged so much despite the scaling issues because it was in the news and trend and everyone was investing in it regardless of it's huge fees. This is why the price went up so quickly. Since now everything is back to normal we might see a stable growth in a few weeks.

1Referee

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Quote from: gabmen on January 28, 2018, 09:42:46 AM

Eventually bitcoin will be overtaken. Though not in the next couple of years.

Bitcoin won't get overtaken you coin jumper. With Lightning Network coming closer it's going to be a challenging time for altcoins - which ones will become even more redundant than they already are, and which coins with an actual purpose will manage to keep growing. I wouldn't want to hold any shitcoins with this in mind.

Quote from: gabmen on January 28, 2018, 09:42:46 AM

Bitcoin will still be the top cryptocoin for now but expect the alts to have their fair share of the market.

The problem with people paying attention to "Bitcoin's dominance" that's based on an utter nonsense metric as market cap, is that they don't understand that Bitcoin can ONLY lose in this aspect. It's the entire altcoin market versus just one single coin called Bitcoin. Do you seriously think it's fair for people to keep referring to Bitcoin's shrinking market cap dominance?

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Quote from: Indrawan77 on January 29, 2018, 08:39:10 AM

Its not wrong that bitcoin dominance is decreasing and a lot of investors has swapped to alt coin to make profit and some of them not using bitcoin anymore because the fee ia super expensive, if the developer could decerease the fee and increase the speed transaction then people will back to bitcoin, so I don't really worry about the dominance, if bitcoin could upgrade then its just the matter of time people back to invest btc

https://blockchain.info/tx/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0

1$ fee to move more than 400 millions $

Is that expensive?

Indrawan77

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Its not wrong that bitcoin dominance is decreasing and a lot of investors has swapped to alt coin to make profit and some of them not using bitcoin anymore because the fee ia super expensive, if the developer could decerease the fee and increase the speed transaction then people will back to bitcoin, so I don't really worry about the dominance, if bitcoin could upgrade then its just the matter of time people back to invest btc

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

No, it simply means one thing.
You should stop looking at coinmarketcap.

That site is one of the reasons why of all noobs wanna be whale traders are going to get fleeced.

What is this marketcap?
A number that is made out of thin air by companies or gangs :
-"printing" coins out of thin air and claiming they are worth 1% but refusing audits? (thether)
- a centralized coin where they can print 100 millions sell 1 for 5 and here you go....(ripple)
- a ponzi like bitconnect?
- a coin like segwit2x? (yeah there is one!!)

Those shiny numbers mean nothing.
It's not like marketshare in the auto industry where Ford can't make 1 million cars out of the blue and then sell them to itself.

Unfortunately there is no number by which you can claim dominance, as the ones that might be reliable in other markets are easily faked here.
- number of transactions? - easily faked when you pay 1 doge fee
- volume of coins moved around - easily to fake just moving coins between wallets (again with 1 doge fee)
- number of active addresses (easily faked) , 1 tx with 1000 outputs
-number of addresses with a balance > same as above

Probably the only indicator for market dominance would be shops accepting that coin...
Bitcoin Atms (2127), shitcoin one? Huh

?

BrewMaster

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

no mate, it still is the same thing as before. the same pump and dumps are happening in altcoins as before and bitcoin % of market cap is going down because there are 50-100 new altcoins created with a lot of market cap and also the big bloated altcoins with huge market caps were pumped (like ETH and XRP) and that contributed to the total bloated market cap a lot.

Quote

I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

yeah it will happen. it has already happened with XRP, its total market cap is so much bigger than bitcoin's.
that is how market cap works. you create a HUGE number of coins (100 billion or 1000 billion should do) then you only have to pump your coin to $1-$5 and you will have a bigger market cap from bitcoin.
easy peasy lemon squeezy Grin

miyaka26

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Quote from: UnusualLeech045 on January 27, 2018, 11:18:43 PM

Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Not possible mate. Even if the dominance of BTC had decreased, you can still see clearly that the price movement of all the alts is too dependent on BTC.

Some of the altcoins are now independent by the movement of the price of btc but don't get me wrong
the majority is still dependent on the price of bitcoin, it has something to do by the decrease of its price for almost 50%
goes down to 10k to 13k bracket price added by the vast amounts of altcoins who are emerging to crypto market
to cope the needs of the increasing investors every day, some of them are interested in other altcoins rather than bitcoin who lacks some great features which some altcoins have, I think that's the reason why the dominance falls for almost 30%.

gabmen

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Eventually bitcoin will be overtaken. Though not in the next couple of years. Btc's pump latter part of 2017 made a lot of people interested not just in bitcoin but in crypto in general, hence alts were also noticed and their potentials. Bitcoin will still be the top cryptocoin for now but expect the alts to have their fair share of the market.

andhovesyan

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Quote from: UnusualLeech045 on January 27, 2018, 11:18:43 PM

Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Not possible mate. Even if the dominance of BTC had decreased, you can still see clearly that the price movement of all the alts is too dependent on BTC.

You're right, currently it's still so, since most of alts trading are possible against BTC, so you always need to buy BTC at first, also BTC is kind of a brand and many people thinks it's the only cryptocurrency. But will BTC still dominate when the crypto currency reaches "ordinary people"?

cpfreeplz

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Something will pass at some point if the tech doesn't improve drastically and soon. Nobody likes the $10-$20 fees to send a transaction, and it makes the whole thing seem pointless. Once we're seeing normal tx fees again we'll see steady gains. I don't really understand how Bitcoin surged so much with all of these scaling issues, but I love it. I never complain when my Bitcoin is worth more!

UnusualLeech045

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Quote from: andhovesyan on January 27, 2018, 11:16:08 PM

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Not possible mate. Even if the dominance of BTC had decreased, you can still see clearly that the price movement of all the alts is too dependent on BTC.

andhovesyan

jr. member

Activity: 154

Merit: 2

BTC went up - alts went down, BTC went down - alts went down, this was the case before December, when cryptocurreny market pumped last time.
But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?
I don't think it will happen this year or even next, but don't you think that some top altcoins may bypass bitcoin in the near future?

Topic: BTC dominance halved (Read 485 times)