Most of the altcoins have faced severe resistance from market, for many reasons. Firstly they flooded market, and lot of them actually turned out to be Ponzi schemes, This took away trust of investors. They are of infinite supply for most of them. Their prices are governed by supply, which could at times is prone to manipulations. Overall barring a few altcoins, majority of altcoins have a very bad reputation. While bitcoin is based on clearly defined full proof algorithms, whicg is industry standard so far and thus it dominates the market.
The D manipulation, it is about competition between public chains. Most of the scam coins you mentioned are token. Although the number is large, the capitalization is not enough to affect D, up or down. However scam coins do influence public perception of altcoins, which is troublesome. The staking mechanism brings an increase in supply, but this can be as open and fair as btc's POW algorithm. Except for btc, most public chains using POW mechanism have been replaced. 
Topic: Dominance and Robbery, the money game of btc dominance (keep updating) (Read 258 times)
July 24, 2022, 02:40:20 AM
July 19, 2022, 01:05:59 PM
Most of the altcoins have faced severe resistance from market, for many reasons. Firstly they flooded market, and lot of them actually turned out to be Ponzi schemes, This took away trust of investors. They are of infinite supply for most of them. Their prices are governed by supply, which could at times is prone to manipulations. Overall barring a few altcoins, majority of altcoins have a very bad reputation. While bitcoin is based on clearly defined full proof algorithms, whicg is industry standard so far and thus it dominates the market.
February 11, 2022, 01:16:40 PM
*quotes merged
Just a conspiracy theory at most, nothing like a proof or the like. I think that you need to consider that bitcoin is strong because the community is very strong and it has been so since a long time, thus miners, exchanges and whales can certainly modify markets to suit their purpose. If they have large bitcoin holdings they will certainly use them to their advantage.
However, I do not think that bitcoin dominance or alts failing when times get though are related to it.
Please, kindly use regular size text. We can read quite well and your argument is not better if in red or bold.
I just don't believe that coincidence occurs so many times. About the text size, I feel that the default size is too small that may because English is not my native language. The red text is to mark the key part.
Also like I mentioned, if those Chinese miners decide that the D can no longer be maintained then it's possible that they will dump all their holdings.
Some thoughts:
1.Many people once agreed that the price of btc would reach 100k. This prediction was made when btc dominance was at 65%. When the btc price was at 69k, the D was at 45%. The simple calculation: (100k*supply)/65%≈(69k*supply)/45%. So I think the 100k btc theory accurately predicts the total market cap of the crypto market and shows us the importance of maintaining the D to miners.
2.Miners, mining groups or 'pure bitcoiners', they can just crash altcoins and leave others guessing why. It is in their interest to bind the concept of blockchain, cryptocurrency, btc and POW mining. They don't even want the outside world to know the existence of altcoins or other choices. People like well-known developer or CEO of a big company directly spread rumors attacking other cryptos, which means that the fake and fragile number one of that prototype is about to collapse.
3.We are going through the same process as 2000 and the alts/btc direct trading should be cancelled. You can't imagine if Amazon's value was measured by the count of domains.
...
Just a conspiracy theory at most, nothing like a proof or the like. I think that you need to consider that bitcoin is strong because the community is very strong and it has been so since a long time, thus miners, exchanges and whales can certainly modify markets to suit their purpose. If they have large bitcoin holdings they will certainly use them to their advantage.
However, I do not think that bitcoin dominance or alts failing when times get though are related to it.
Please, kindly use regular size text. We can read quite well and your argument is not better if in red or bold.
Quote
Same as May 2021 I mentioned above, the price and D fell at the same time (bitcoin lose more than altcoins). And also the cause of the crash is outside the crypto world: the rate hike. Meanwhile in China, the COVID-19 lockdown in several cities has led to the bankruptcy of small and medium-sized enterprises and layoffs by internet giants like Alibaba. Funds from Chinese retail investors are further reduced, the 'tools' to spread excessive panic are lost which makes the manipulation of D is close to total failure.Also like I mentioned, if those Chinese miners decide that the D can no longer be maintained then it's possible that they will dump all their holdings.
Some thoughts:
1.Many people once agreed that the price of btc would reach 100k. This prediction was made when btc dominance was at 65%. When the btc price was at 69k, the D was at 45%. The simple calculation: (100k*supply)/65%≈(69k*supply)/45%. So I think the 100k btc theory accurately predicts the total market cap of the crypto market and shows us the importance of maintaining the D to miners.
2.Miners, mining groups or 'pure bitcoiners', they can just crash altcoins and leave others guessing why. It is in their interest to bind the concept of blockchain, cryptocurrency, btc and POW mining. They don't even want the outside world to know the existence of altcoins or other choices. People like well-known developer or CEO of a big company directly spread rumors attacking other cryptos, which means that the fake and fragile number one of that prototype is about to collapse.
3.We are going through the same process as 2000 and the alts/btc direct trading should be cancelled. You can't imagine if Amazon's value was measured by the count of domains.
February 09, 2022, 01:08:12 PM
...
Just a conspiracy theory at most, nothing like a proof or the like. I think that you need to consider that bitcoin is strong because the community is very strong and it has been so since a long time, thus miners, exchanges and whales can certainly modify markets to suit their purpose. If they have large bitcoin holdings they will certainly use them to their advantage.
However, I do not think that bitcoin dominance or alts failing when times get though are related to it.
Please, kindly use regular size text. We can read quite well and your argument is not better if in red or bold.
February 09, 2022, 04:07:42 AM
Op, stop posting multiple times in a row, you can merge all of your replies in one, also stop typing in a large/bold font, it really doesn't emphasize your point or anything of that sort, what it actually does is scare people away from interacting in threads you start.
You could as well go through this thread to understand a thing or two about posting: Bitcointalk posting etiquette
Thanks for you advices. You could as well go through this thread to understand a thing or two about posting: Bitcointalk posting etiquette
February 08, 2022, 12:05:39 PM
Op, stop posting multiple times in a row, you can merge all of your replies in one, also stop typing in a large/bold font, it really doesn't emphasize your point or anything of that sort, what it actually does is scare people away from interacting in threads you start.
You could as well go through this thread to understand a thing or two about posting: Bitcointalk posting etiquette
You could as well go through this thread to understand a thing or two about posting: Bitcointalk posting etiquette
February 08, 2022, 11:48:25 AM
*quotes merged
And there's no need to prove whether miners have an impact on cryptocurrencies, please check the price trend of major crypto in May 2021. Also to avoid misunderstanding, I need to stress that the D data I mentioned refers to the Dominance of btc in the total crypto market cap.
It could be more harmful when they make up 'whales selling off' rumors. It targets retail investors investing in high-cap altcoins, trigger long squeeze to crash competitive crypto projects.
I understand your point. And yes, at times like this, a single strand of hope is very vital to keep anyone from giving up in life. But atill, I just want to stress the fact that crypto just really isn't for everyone. Specially the super lazy ones.
I understand, and this indeed is a problem. But the thing is, be it just a conspiracy or is indeed happening, there is little to nothing that an individual can do about it. Unless the big whales really starts a move/campaign about this, there really isn't anything much small people like us can do. Better to put effort in learning indicators and price action to capitalize in whatever manipulation or etc., that is happening instead of creating more headache by adopting problems we can't solve ourselves.
A few years ago, I was a person that hated scammers, hackers, rug pulling projects etc., but as years went by, I understood that focusing on things you can control can make earning and easier and your sleeping hours longer.
- Respect for you though OP for having this type of spirit.
Institutions are increasing their holdings, both altcoins and bitcoin. This makes it harder for the squeeze to happen, which may help break out of the current situation.
Even if it can't be changed, people still need to know what's happening. This also helps to predict sell-off from Chinese miners.
By the way, if I wrote this in Chinese and posted it to some Chinese community. Those retail investors just feel insulted and continue to do the same things as before.
Mining industry does not seem to have any impact on the crypto currency as seen with the china shut down on crypto mining. So I would really care less on the fact that mining affects the crypto dominance in the world. On the other hand, if you ask me then china shut down was actually prime importance for the up scale of other counties in the mining industries. The fact is proven by the company which has pre ordered 13,500 ASIC miners by the end of 2022.
I am pretty sure being Chinese you understand that it’s not hampering the world at all. It’s actually giving another opportunity to start with full scale.
The China ban is not the point of my original post at all. It just provides an opportunity to prove the D manipulation by Chinese miners, through the difference in the strength of the manipulation before and after the ban.I am pretty sure being Chinese you understand that it’s not hampering the world at all. It’s actually giving another opportunity to start with full scale.
And there's no need to prove whether miners have an impact on cryptocurrencies, please check the price trend of major crypto in May 2021. Also to avoid misunderstanding, I need to stress that the D data I mentioned refers to the Dominance of btc in the total crypto market cap.
Those self acclaimed experts are most times confused and thrown off balance by the market. Instead of them to say or expose their cluelessness, they will make some untrusted forecast. Because they have so much followers on social media, and are inter connected. The masses will like to follow their prediction, by this they create an artificial demand and supply.
About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
Nope, those "self acclaimed experts" are not confused and they know what they are doing. And they do it on purpose. They are not thrown off balance by the market. They are just here for attention and to gain followers. They also do it to shill for certain coins and create the "artificial demand" you are talking about. They mainly shill for coins with small marketcap because they are easier to manipulate. They will make their followers invest in those coin, cause the price to go a bit upwards and then dump their coins to take their profit. This is why you should never be joining those groups that OP was talking about. Just learn to do your own research.About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
When it comes to cryptocurrencies like : Bitcoins
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
I understand your point. And yes, at times like this, a single strand of hope is very vital to keep anyone from giving up in life. But atill, I just want to stress the fact that crypto just really isn't for everyone. Specially the super lazy ones.
It is normal for people to pay for their stupidity. But the point is that through this process, Chinese miners crash many well-performing crypto projects to maintain their Dominance.
I understand, and this indeed is a problem. But the thing is, be it just a conspiracy or is indeed happening, there is little to nothing that an individual can do about it. Unless the big whales really starts a move/campaign about this, there really isn't anything much small people like us can do. Better to put effort in learning indicators and price action to capitalize in whatever manipulation or etc., that is happening instead of creating more headache by adopting problems we can't solve ourselves.
A few years ago, I was a person that hated scammers, hackers, rug pulling projects etc., but as years went by, I understood that focusing on things you can control can make earning and easier and your sleeping hours longer.
- Respect for you though OP for having this type of spirit.
Even if it can't be changed, people still need to know what's happening. This also helps to predict sell-off from Chinese miners.
By the way, if I wrote this in Chinese and posted it to some Chinese community. Those retail investors just feel insulted and continue to do the same things as before.
February 06, 2022, 08:15:16 AM
When it comes to cryptocurrencies like : Bitcoins
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
I understand your point. And yes, at times like this, a single strand of hope is very vital to keep anyone from giving up in life. But atill, I just want to stress the fact that crypto just really isn't for everyone. Specially the super lazy ones.
It is normal for people to pay for their stupidity. But the point is that through this process, the MINING GANG crash many well-performing crypto projects to maintain their Dominance.
I understand, and this indeed is a problem. But the thing is, be it just a conspiracy or is indeed happening, there is little to nothing that an individual can do about it. Unless the big whales really starts a move/campaign about this, there really isn't anything much small people like us can do. Better to put effort in learning indicators and price action to capitalize in whatever manipulation or etc., that is happening instead of creating more headache by adopting problems we can't solve ourselves.
A few years ago, I was a person that hated scammers, hackers, rug pulling projects etc., but as years went by, I understood that focusing on things you can control can make earning and easier and your sleeping hours longer.
- Respect for you though OP for having this type of spirit.
February 05, 2022, 02:00:59 PM
*quotes merged
So 'altcoin printing' does not affect the main trend of D, otherwise the D curve will not be as smooth as it is now.
About the impact on price. The point in my post is not that D affects the price of btc or altcoins, but that Chinese miners made big sell off to maintain Dominance when D falls.
In a sense it's more of a 'direct effect' than 'not affected'. They are miners, their mostly holdings are btc so their trick to trigger panic is also to sell btc.
Those 'experts' make meaningless stuff most of the time, but when the part of them with a similar audience shares exceptionally consistent views, there's something worth exploring.
When it comes to cryptocurrencies like : Bitcoins
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
With those Chinese miners, btc has seen few technological upgrades since that controversial hard fork. Because it is not necessary, as long as they manipulate D, they can starve the altcoin projects that carry out technological innovation and easily win. Even if someone wanted to, do you remember how many miners in the so-called community were strongly opposed to Ethereum's upgrade proposal?
This is extremely harmful to the crypto industry, both altcoins and btc. When Satoshi's prototype finally fails to maintain its Dominance, they will soon dump all their holdings and crash the entire market. If you believe crypto is the future, then all they do is DESTORY OUR FUTURE.
Crypto/BitCoin dominance indicator depends on market capacity which is the product of price multiplied by Circulating Supply[1], in bitcoin we have a fixed quantity supply and therefore market capacity may have value (although it is another useless metric).
As for altcoins, the developer can create one million coins per day, and thus the market capacities may be doubled in a short period, and thus the dominance of Bitcoin will decrease compared to alternative currencies.
Thus it is only an indicator of:
- More altcoins are being printed: It is not a price reversal because price is often follow the Bitcoin price.
- Bitcoin price will not be affected by it.
- If the market is regulated, it will drop very low.
So the only benefit is knowing when the altcoins will start to rise when the bitcoin price stable.
[1] The amount of coins that are circulating in the market and are in public hands. Read more and source
A fixed or at least stable supply is already the mainstream consensus in the cryptocurrency market, not only btc. The supply of most high market cap altcoins which enough to affect D will not change rapidly in a short period of time. Also, increasing supply will also cause the price to fall and low market cap coins have little influence.As for altcoins, the developer can create one million coins per day, and thus the market capacities may be doubled in a short period, and thus the dominance of Bitcoin will decrease compared to alternative currencies.
Thus it is only an indicator of:
- More altcoins are being printed: It is not a price reversal because price is often follow the Bitcoin price.
- Bitcoin price will not be affected by it.
- If the market is regulated, it will drop very low.
So the only benefit is knowing when the altcoins will start to rise when the bitcoin price stable.
[1] The amount of coins that are circulating in the market and are in public hands. Read more and source
So 'altcoin printing' does not affect the main trend of D, otherwise the D curve will not be as smooth as it is now.
About the impact on price. The point in my post is not that D affects the price of btc or altcoins, but that Chinese miners made big sell off to maintain Dominance when D falls.
In a sense it's more of a 'direct effect' than 'not affected'. They are miners, their mostly holdings are btc so their trick to trigger panic is also to sell btc.
Those self acclaimed experts are most times confused and thrown off balance by the market. Instead of them to say or expose their cluelessness, they will make some untrusted forecast. Because they have so much followers on social media, and are inter connected. The masses will like to follow their prediction, by this they create an artificial demand and supply.
About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
It is normal for most cryptocurrencies to have the same price trend, but the key is which side of Bitcoin or altcoins gains more or loses more.About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
Those 'experts' make meaningless stuff most of the time, but when the part of them with a similar audience shares exceptionally consistent views, there's something worth exploring.
This is why not everyone is successful in crypto currencies. The thought also applies to several careers. What I am saying is that if a person is too lazy to even know about the thing he is getting himself into (specially if he aims to do it long-term involving huge capital allocation) then I think he probably deserves losing some investmen capitals just to wake him up from his rich get quick without effort mindset. That is if he doesn't lose it all all at once or doesn't give up that easily. In this industry, specifically in trading, we capitalize on the mistakes of others; their losses. Lazy people would be better off investing their time and money on other things than in this industry.
Otherwise, they can only reap what they have sown.
It is normal for people to pay for their stupidity. But the point is that through this process, Chinese miners crash many well-performing crypto projects to maintain their Dominance.Otherwise, they can only reap what they have sown.
This is why not everyone is successful in crypto currencies. The thought also applies to several careers. What I am saying is that if a person is too lazy to even know about the thing he is getting himself into (specially if he aims to do it long-term involving huge capital allocation) then I think he probably deserves losing some investmen capitals just to wake him up from his rich get quick without effort mindset. That is if he doesn't lose it all all at once or doesn't give up that easily. In this industry, specifically in trading, we capitalize on the mistakes of others; their losses. Lazy people would be better off investing their time and money on other things than in this industry.
Otherwise, they can only reap what they have sown.
Otherwise, they can only reap what they have sown.
When it comes to cryptocurrencies like : Bitcoins
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
This is extremely harmful to the crypto industry, both altcoins and btc. When Satoshi's prototype finally fails to maintain its Dominance, they will soon dump all their holdings and crash the entire market. If you believe crypto is the future, then all they do is DESTORY OUR FUTURE.
February 05, 2022, 12:20:58 AM
Those self acclaimed experts are most times confused and thrown off balance by the market. Instead of them to say or expose their cluelessness, they will make some untrusted forecast. Because they have so much followers on social media, and are inter connected. The masses will like to follow their prediction, by this they create an artificial demand and supply.
About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
Nope, those "self acclaimed experts" are not confused and they know what they are doing. And they do it on purpose. They are not thrown off balance by the market. They are just here for attention and to gain followers. They also do it to shill for certain coins and create the "artificial demand" you are talking about. They mainly shill for coins with small marketcap because they are easier to manipulate. They will make their followers invest in those coin, cause the price to go a bit upwards and then dump their coins to take their profit. This is why you should never be joining those groups that OP was talking about. Just learn to do your own research. About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
February 04, 2022, 04:06:55 PM
Mining industry does not seem to have any impact on the crypto currency as seen with the china shut down on crypto mining. So I would really care less on the fact that mining affects the crypto dominance in the world. On the other hand, if you ask me then china shut down was actually prime importance for the up scale of other counties in the mining industries. The fact is proven by the company which has pre ordered 13,500 ASIC miners by the end of 2022.
I am pretty sure being Chinese you understand that it’s not hampering the world at all. It’s actually giving another opportunity to start with full scale.
I am pretty sure being Chinese you understand that it’s not hampering the world at all. It’s actually giving another opportunity to start with full scale.
February 04, 2022, 11:26:29 AM
This is why not everyone is successful in crypto currencies. The thought also applies to several careers. What I am saying is that if a person is too lazy to even know about the thing he is getting himself into (specially if he aims to do it long-term involving huge capital allocation) then I think he probably deserves losing some investmen capitals just to wake him up from his rich get quick without effort mindset. That is if he doesn't lose it all all at once or doesn't give up that easily. In this industry, specifically in trading, we capitalize on the mistakes of others; their losses. Lazy people would be better off investing their time and money on other things than in this industry.
Otherwise, they can only reap what they have sown.
Otherwise, they can only reap what they have sown.
When it comes to cryptocurrencies like : Bitcoins
It is essential to realize that getting involved with everything is an active process. You have to keep checking the price and invest at the right time, the right opportunity. At the same time you also have to realize that losses are temporary and if you accidentally make a mistake, you can always earn that money back but there is no point in loosing sense of the goal. I believe it's not just an asset or crypto but it's *financial freedom* which is being imparted to the people. At the end of the day it's even more important during the pandemic and crumbling economic situation.
February 04, 2022, 10:28:51 AM
This is why not everyone is successful in crypto currencies. The thought also applies to several careers. What I am saying is that if a person is too lazy to even know about the thing he is getting himself into (specially if he aims to do it long-term involving huge capital allocation) then I think he probably deserves losing some investmen capitals just to wake him up from his rich get quick without effort mindset. That is if he doesn't lose it all all at once or doesn't give up that easily. In this industry, specifically in trading, we capitalize on the mistakes of others; their losses. Lazy people would be better off investing their time and money on other things than in this industry.
Otherwise, they can only reap what they have sown.
Otherwise, they can only reap what they have sown.
February 02, 2022, 04:38:10 PM
Those self acclaimed experts are most times confused and thrown off balance by the market. Instead of them to say or expose their cluelessness, they will make some untrusted forecast. Because they have so much followers on social media, and are inter connected. The masses will like to follow their prediction, by this they create an artificial demand and supply.
About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
About altcoins not falling when bitcoin suffered because of China ban. It was a fundamental analysis that interrupted the market. In a real market, when the king bleeds the altcoins bleed as well.
February 02, 2022, 09:01:21 AM
Crypto/BitCoin dominance indicator depends on market capacity which is the product of price multiplied by Circulating Supply[1], in bitcoin we have a fixed quantity supply and therefore market capacity may have value (although it is another useless metric).
As for altcoins, the developer can create one million coins per day, and thus the market capacities may be doubled in a short period, and thus the dominance of Bitcoin will decrease compared to alternative currencies.
Thus it is only an indicator of:
- More altcoins are being printed: It is not a price reversal because price is often follow the Bitcoin price.
- Bitcoin price will not be affected by it.
- If the market is regulated, it will drop very low.
So the only benefit is knowing when the altcoins will start to rise when the bitcoin price stable.
[1] The amount of coins that are circulating in the market and are in public hands. Read more and source
As for altcoins, the developer can create one million coins per day, and thus the market capacities may be doubled in a short period, and thus the dominance of Bitcoin will decrease compared to alternative currencies.
Thus it is only an indicator of:
- More altcoins are being printed: It is not a price reversal because price is often follow the Bitcoin price.
- Bitcoin price will not be affected by it.
- If the market is regulated, it will drop very low.
So the only benefit is knowing when the altcoins will start to rise when the bitcoin price stable.
[1] The amount of coins that are circulating in the market and are in public hands. Read more and source
February 02, 2022, 06:45:22 AM
Before any accusation, let's see something really intersting on chart.
So now we can know the ugly fact that when miners are directly hit and temporarily lose the energy for market manipulation. Altcoins would not loss so much more market cap than bitcoin in a correction.
Not long after, right before the September 2021 pullback I mentioned above, most of the Chinese price prediction groups on WeChat were full of rumors about ‘whales selling off’. It is extremely rare for them to predict such level of correction so accurately. Also, founders of these groups have a well-known good relationship with local miners. It's just a Chinese way to make retail investors trigger a long squeeze and spread fear to whole crypto market, resulted in a significant rise of D.
This is robbery. For any progress in the blockchain industry, defi nft or others, miners have zero participation. But with the manipulation, they can always maintain btc dominance to rob in every bullish cycle and others cannot get the reward they deserve.
Quote
First is the big crash in 2018. As you can see, the bitcoin Dominance reached an all-time low around 40% on Jan 6, 2018. And many altcoins reached their peak at this time. Then the market crashed. During the long crypto winter and after, the bitcoin dominance keep rising.Quote
And the recent pullback in September 2021. When the D close to 41%, the price dropped sharply. Then the price rises again with the D. The same pattern also appeared in the pullbacks on Sep 1, 2020 and Nov 23, 2020. I will share charts later, if I have time.Quote
This one is different. In the crash on May 19, 2021, the price and D fell at the same time (bitcoin lose more than altcoins). And here comes the key information: the cause of this crash was China's mining ban, and most of the bitcoin mining used to be in China before that.So now we can know the ugly fact that when miners are directly hit and temporarily lose the energy for market manipulation. Altcoins would not loss so much more market cap than bitcoin in a correction.
Not long after, right before the September 2021 pullback I mentioned above, most of the Chinese price prediction groups on WeChat were full of rumors about ‘whales selling off’. It is extremely rare for them to predict such level of correction so accurately. Also, founders of these groups have a well-known good relationship with local miners. It's just a Chinese way to make retail investors trigger a long squeeze and spread fear to whole crypto market, resulted in a significant rise of D.
Quote
chart: https://layer8.space/system/media_attachments/files/107/715/993/140/153/583/original/889635f3d7c38ce7.jpg
chart: https://layer8.space/system/media_attachments/files/107/715/993/149/402/702/original/6228bcf668f52ea6.jpg
I am Chinese and I know lots of Chinese millionaires are obsessed with their money game '割韭菜' and have no vision for the future. It's shown on chart. Chinese retail investors fail to get correct and complete information, they choose to trust unknown people claiming to be experts in various groups on Wechat, 'DYOR' is not popular among them. This makes them extremely vulnerable to massively targeted rumors and eventually become puppets in the crypto market. Turning themselves into tools for increasing price volatility and disrupting long-term value investing opportunities. After the Chinese government cracked down on crypto trading in Dec 2021, Chinese retail investors have significantly decreased. This leads to a weakening of the price relationship between bitcoin and altcoins, which makes the manipulation of D become a little less effective.chart: https://layer8.space/system/media_attachments/files/107/715/993/149/402/702/original/6228bcf668f52ea6.jpg
This is robbery. For any progress in the blockchain industry, defi nft or others, miners have zero participation. But with the manipulation, they can always maintain btc dominance to rob in every bullish cycle and others cannot get the reward they deserve.
Follow me on Mastodon: https://layer8.space/@groundyouall
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