BTC Dominance on CoinMarketCap - page 14.

pooya87

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it depends on how you define "dominance"!

- the flawed way that a website made popular is using market capitalization. it is flawed because it doesn't consider the "real supply" of different coins and also it is using a characteristic that doesn't belong to this market (it belongs to stocks). i posted some numbers here which you can see for more details: https://bitcointalksearch.org/topic/m.51618134
but basically 60% ish is the ratio of 17 million coins versus 12,000,000 million coins!

Code:

        17,000,000
12,000,000,000,000 /
----------------------------
60%!!!

this "gap" you are talking about here, is not going to be filled by this percentage. even if bitcoins so called "dominance" dropped to 10% or rose to 99.99% it still wouldn't change a thing. the real dominance is the adoption and usage of coins in real world. to put simply, bitcoin has it and others don't.

JollyGood

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Quote from: mk4 on July 06, 2019, 04:36:21 AM

Even if Bitcoin's market dominance drops to 25% bitcoin will still be the dominant force. Remember, the cryptocurrecy markets is easily swayed by news(both fake and legitimate), especially to most altcoins. Bitcoin will still be the most decentralized, most secure, and most globally adopted coin compared to all the other coins/tokens combined.

If Bitcoin dominance did fall to say 25% that in itself would mean higher prices per token/coins for other competitors out there. 25% BTC Dominance would allow others to narrow the gap and if there was another competitor in the 20%+ Dominance region then that would be an amazing time for crypto.

I think that as long as others narrow the gap on Bitcoin lowering its Dominance then the better it will be for the crypto market in general.

joelsamuya

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As for me, bitcoin dominance is not a very important issue as it could go up and down depending on the growth of the whole cryptocurrency marketplace. I even prefer that it goes below 50% as this is not a political movement where you need at least 51% or a majority to win the race. Hopefully, when the whole cryptocurrency has grown mature, bitcoin dominance will go down percentage-wise because the whole industry is growing well. Even it goes just to 10%, it will never have any impact on its future and arguably also on its price.

creeps

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Quote from: JollyGood on July 06, 2019, 04:29:23 AM

Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?

Currently the BTC Dominance according to CMC is: 62.6%

The dominance of bitcoin is getting higher because of many failed altcoins, and they are dying so people choose to transfer on bitcoin. A big portion are still filled by many top altcoins and I believe they will also do their best to stay on that position, its really a battle of survival. I’m happy that bitcoin still dominate the market, better to hold more.

mk4

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Even if Bitcoin's market dominance drops to 25% bitcoin will still be the dominant force. Remember, the cryptocurrecy markets is easily swayed by news(both fake and legitimate), especially to most altcoins. Bitcoin will still be the most decentralized, most secure, and most globally adopted coin compared to all the other coins/tokens combined.

JollyGood

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Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?

Currently the BTC Dominance according to CMC is: 62.6%

Topic: BTC Dominance on CoinMarketCap - page 14. (Read 2470 times)