Topic: Dominance of Bitcoin & Ethereum (Read 126 times)
Bitcoin has many dominance over bitcoin and ethereum because it is a good crypto currency that is now rising in many countries but there is still a nation that prohibits bitcoin. but the dominance of bitcoin is very large compared to other crypto, Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it.
A controversial moment. You do not understand that the situation can change. Only it will not be very soon. And domination is due to the fact that these coins have appeared for a long time and there is trust.
Almost true but not completly full. I mean there lot of cryptocurrency you can dirrectly buy with fiat currency for example litecoin, nxt, waves, and xlm. You can dirrectly buy all of those coin. And buy altcoin not useless cause u believe in that coin, and some coin have its own use.
Yes there are many other currencies which one can directly buy from fiat, but what kind of marketcap we get from such pairings. It is just nothing campared to bitcoin and ethereum. Bitcoin and ethereum have become sacrosanct for all the cryptocurrency investors and a lot of new users. The major exchanges binance and bittrex doesn't offer any fiat pairings. The currencies which are tied up with usd and krw also don't provide the volume which a crypto volume provides. Either it is the fear of taxation or something else, but we need to see multiple pairings or a facility where we don't have to go through a mediator like btc/eth and simply buy litecoin from ripple or sell lisk and get ark . There should be no barriers to direct transaction. The volume will get distributed a lot but it will create a lot of ease for people who wish to buy a particular currency from another currency without going through a standard mediator.
The most important things that should be considered here is,
when buying an altcoin, people use fiat to buy base currencies like BTC and ETH first and again exchange it to altcoins. So, BTC and ETH are not hold or their change of price won't (theoretically) affect the trading pattern of altcoins and the coins keep cycling over and over.
when buying an altcoin, people use fiat to buy base currencies like BTC and ETH first and again exchange it to altcoins. So, BTC and ETH are not hold or their change of price won't (theoretically) affect the trading pattern of altcoins and the coins keep cycling over and over.
I think it does effect the trading pattern. If all altcoins improve then bitcoin and ethereum will automatically improve to sustain the buying and selling of those coins. People constantly move from btc/eth to altcoins and viceversa giving ethereum and btc a good price power. Only fiat pair will help altcoins.
The most important things that should be considered here is,
when buying an altcoin, people use fiat to buy base currencies like BTC and ETH first and again exchange it to altcoins. So, BTC and ETH are not hold or their change of price won't (theoretically) affect the trading pattern of altcoins and the coins keep cycling over and over.
when buying an altcoin, people use fiat to buy base currencies like BTC and ETH first and again exchange it to altcoins. So, BTC and ETH are not hold or their change of price won't (theoretically) affect the trading pattern of altcoins and the coins keep cycling over and over.
I agree with its placement and its examples, in my point of view, I see as a stimulus for the other currencies to look for top, also serves to solidify investments based on investing in another currency, for example, you own Ethereum and ten other currencies or you own Bitcoin and ten other currencies. On the negative side, it ends up making monopoly on these two fronts (Bitcoin and Ethereum) generating barriers to other currencies.
Almost true but not completly full. I mean there lot of cryptocurrency you can dirrectly buy with fiat currency for example litecoin, nxt, waves, and xlm. You can dirrectly buy all of those coin. And buy altcoin not useless cause u believe in that coin, and some coin have its own use.
Right now bitcoin and ethereum together command a 55 percent market cap dominance and all the remaining altcoins take the other 45 percent. Basically, in order to buy any altcoin you have to buy either bitcoin or ethereum first and then buy your favourite altcoin. If the dominance of bitcoin decreases initially because people are moving into altcoins, it won't be able to sustain and thus altcoins will again drop leading to bitcoin and ethereum dominance improving. So with this it is simply waste to invest in altcoins because if anyone buys altcoins it will be through by buying bitcoin first or ethereum and hence buying bitcoin or ethereum will be giving better returns as more and more altcoins come in the market.
For example: Total market cap = 400 billion
BTC = 140
ETH = 60
All others collectively 200
If BTC and ethereum goes down by 50 percent each say 70 & 30 effectively, other altcoin go up by 100 so 300 total, there wont be enough btc or ethereum to sustain the buying of altcoins leading to fall of altcoins till the btc and ethereum are enough in quantity to sustain it.
what are your views on this dilemma? Positive, negative views all are welcome!
For example: Total market cap = 400 billion
BTC = 140
ETH = 60
All others collectively 200
If BTC and ethereum goes down by 50 percent each say 70 & 30 effectively, other altcoin go up by 100 so 300 total, there wont be enough btc or ethereum to sustain the buying of altcoins leading to fall of altcoins till the btc and ethereum are enough in quantity to sustain it.
what are your views on this dilemma? Positive, negative views all are welcome!
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