Topic: Is bitcoins dominance coming to an end? - page 2. (Read 727 times)
With a lot of crypto currencies going around, the dominance of bitcoin will surely drop. This is been a talk for a while and it doesn't matter if it falls, more crypto currencies will pop up and the money will not always fall to bitcoin. It doesn't spell the end of dominance of btc, this just tells us that more and more crypto currencies are circulating.
I don't think so, all of that is just a speculation that would never happen.
There are only two group of people in crypto, the bitcoin believer and the non believer, if you are on the side of the believer, you would continue to follow bitcoin, it's news and its trend, and based on the trend, bitcoin is still very dominant until now.
yes, we've seen some drop of dominant rate, but hey, let's wake up if we are sleeping, 61.5% dominant rate is still very high, it's clearly dominating the market. Take a look here (https://coinmarketcap.com/)
There are only two group of people in crypto, the bitcoin believer and the non believer, if you are on the side of the believer, you would continue to follow bitcoin, it's news and its trend, and based on the trend, bitcoin is still very dominant until now.
yes, we've seen some drop of dominant rate, but hey, let's wake up if we are sleeping, 61.5% dominant rate is still very high, it's clearly dominating the market. Take a look here (https://coinmarketcap.com/)
There's no evidence to suggest that bitcoin will cease to be the dominant cryptocurrency. Nothing else comes close. Generally when dominance is mentioned, it refers to market cap... which is only ever a rough guide at best, as already stated in this thread:
I suppose, looking into the future, if bitcoin's eventual role is as a store-of-value, then perhaps a smart-contract crypto such as Ethereum can become more dominant through becoming embedded into the functioning of society via the automation of what are currently manual tasks and job roles... or a crypto used as a fast, secure day-to-day currency might become dominant... but if any of that were to happen, then it's years away at best. There's no chance of anything supplanting bitcoin in the near future.
well if we change the real definition of "dominance" into a fake one while using a fake number to measure it then the answer is obviously yes. it is trivially easy to create a shitcoin with a huge fake number called market capitalization thanks to the ability of creating trillions of supply with click of a button with virtually no cost. in fact that is how all the "top 10" altcoins took their ranks in this fake ranking system.
but in reality dominance is not defined that way at all. nobody cares about market cap. the important factors that define dominance is adoption, utility, security and decentralization. and no coin has ever come close to 5% of what bitcoin has.
but in reality dominance is not defined that way at all. nobody cares about market cap. the important factors that define dominance is adoption, utility, security and decentralization. and no coin has ever come close to 5% of what bitcoin has.
I suppose, looking into the future, if bitcoin's eventual role is as a store-of-value, then perhaps a smart-contract crypto such as Ethereum can become more dominant through becoming embedded into the functioning of society via the automation of what are currently manual tasks and job roles... or a crypto used as a fast, secure day-to-day currency might become dominant... but if any of that were to happen, then it's years away at best. There's no chance of anything supplanting bitcoin in the near future.
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If ETH v2.0 will solve its scalability issue then it might possibly overtake BTC. The reason why BTC is still the king is because no one surpassed it. Most of the blockchain has scalability issue. Last 2017 was closed for ETH but due to some unforseen event which flooded there blockchain. Ethereum is not yet ready that time and I hope they have a good solution on this upcoming upgrade. There smart contract cutting edge of its feature that worthy to be on top.
The reason why ethereum flippenning failed back in 2017 was due to the fact that ETH blockchain suffered from scalability issue. If I remember correctly, A single dapp (CryptoKitties) caused a severe network congestion in Ethereum blockchain which caused transactions to be delayed for longer than usual. Well, ETH2.0 addresses these issues with improved scalability, throughput, and security. Despite this, I still feel that Bitcoin would keep its spot as the most dominant cryptocurrency. It won't be long until we find out.
If only you read my post that you quote, you will not suffer through redundancy. That's what actually what I said. Crypto kitty is the major reason but they have already slow transaction before cryptokitty because that time was most of the token are launch on ETH blockchain and that huge volume of transaction from different project results to scalability issue of ETH. IIRC many big project like Tron($TRX) and EOS are still on ETH blockchain and still not launching there mainnet.
If ETH v2.0 will solve its scalability issue then it might possibly overtake BTC. The reason why BTC is still the king is because no one surpassed it. Most of the blockchain has scalability issue. Last 2017 was closed for ETH but due to some unforseen event which flooded there blockchain. Ethereum is not yet ready that time and I hope they have a good solution on this upcoming upgrade. There smart contract cutting edge of its feature that worthy to be on top.
The reason why ethereum flippenning failed back in 2017 was due to the fact that ETH blockchain suffered from scalability issue. If I remember correctly, A single dapp (CryptoKitties) caused a severe network congestion in Ethereum blockchain which caused transactions to be delayed for longer than usual. Well, ETH2.0 addresses these issues with improved scalability, throughput, and security. Despite this, I still feel that Bitcoin would keep its spot as the most dominant cryptocurrency. It won't be long until we find out.
I am among those who always monitor the movements of Bitcoin in the market every day, and Bitcoin always dominates the market
above 60%. This proves that other coins will be difficult to replace the position of Bitcoin, so based on the results of my analysis,
Bitcoin will dominate the market at least for long-term. And the conclusion is the dominance of Bitcoin is not likely to end.
above 60%. This proves that other coins will be difficult to replace the position of Bitcoin, so based on the results of my analysis,
Bitcoin will dominate the market at least for long-term. And the conclusion is the dominance of Bitcoin is not likely to end.
of course, although in the future there are some whales who want to raise the price of altcoin so they have a target to be able to shift the position of bitcoin, of course that won't be easy because the people who hold bitcoin are certainly much bigger than some whales who want to raise the price of altcoin , and Bitcoin trading activities will always move at any time to strengthen trading volume
I don't think that the BTC dominance will end in the foreseeable future, but I believe that there is a cycle:
BTC dominance down -> Alt dominance up & BTC dominance up -> Alt dominance down.
Which repeats itself over and over again.
Simply because the 'Bitcoin Whales' make a lot of money with it.
BTC dominance down -> Alt dominance up & BTC dominance up -> Alt dominance down.
Which repeats itself over and over again.
Simply because the 'Bitcoin Whales' make a lot of money with it.
If you are seeing someone seriously suggesting that Bitcoin will soon be replaced with alts, you are witnessing a desperate attempt to start the so-called "alt season". Altcoin bagholders dream to see a bull market similar to 2017, with many of them still experiencing the loss from that time. But it won't happen, because there's no big fundamental hype around blockchain technology - and it can't repeat again, because investors learned their lesson. ICOs these days don't get even a fraction of what they could get in 2017.
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The only time that bitcoin was close to losing the top spot was way back in 2017-2018 when talks about Ethereum flippenning were brewing. XRP did come close during that time as well but we all know how it ended. Well, ETH 2.0 will be launching next month or so and with the hype it's got, It could garner some dominance from Bitcoin upon launch. In spite of this, I still believe that Bitcoin would maintain its dominance. It's still the most widely used cryptocurrency even though Ethereum is spearheading the DeFi movement. We'd just have to wait and see how everything plays out.
I don't think that the ETH 2.0 would really take the place it could also get close like what happen way back in 2017-18 as you said but I strongly believe that it would only be that way and it wouldn't replace Bitcoin.So many crypto has come and go and Bitcoin is still the King of all crypto I think it would still remain that way for a very long time I don't really think that there would be a crypto who could overtake it's place,
But the future is uncertain and many things could happen to change it.
If ETH v2.0 will solve its scalability issue then it might possibly overtake BTC. The reason why BTC is still the king is because no one surpassed it. Most of the blockchain has scalability issue. Last 2017 was closed for ETH but due to some unforseen event which flooded there blockchain. Ethereum is not yet ready that time and I hope they have a good solution on this upcoming upgrade. There smart contract cutting edge of its feature that worthy to be on top.
A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???
Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.
https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/
Just a simple look at the Bitcoin capitalization dominance will answer your question directly and you don't have to elaborate things here.Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.
https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/
https://coinmarketcap.com/currencies/bitcoin/
61% over a thousand coins?then now tell me who will have a chance to took over the domination?even the second ranking currency like Ethereum cannot even make 1/2 of bitcoin capitalization of 175 billion dollars.
Bitcoin's dominance can never end What really happened in 2017 was really great however the price of Bitcoin is going to be the same as before the price of the cause of the virus went down so much. Compared to Altcoin it can never replace Bitcoin the future prospects of Bitcoin which has been branded as an unstable virtual currency are not to be underestimated bitcoin is at the top of all.
Of course it can replace but the thing is when?and how long we need to wait before it finally happens.I know that it will take long time before it finally comes and that is what market is telling us.
The only time that bitcoin was close to losing the top spot was way back in 2017-2018 when talks about Ethereum flippenning were brewing. XRP did come close during that time as well but we all know how it ended. Well, ETH 2.0 will be launching next month or so and with the hype it's got, It could garner some dominance from Bitcoin upon launch. In spite of this, I still believe that Bitcoin would maintain its dominance. It's still the most widely used cryptocurrency even though Ethereum is spearheading the DeFi movement. We'd just have to wait and see how everything plays out.
I don't think that the ETH 2.0 would really take the place it could also get close like what happen way back in 2017-18 as you said but I strongly believe that it would only be that way and it wouldn't replace Bitcoin.So many crypto has come and go and Bitcoin is still the King of all crypto I think it would still remain that way for a very long time I don't really think that there would be a crypto who could overtake it's place,
But the future is uncertain and many things could happen to change it.
A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???
Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.
https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/
Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.
https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/
If we're talking about Ethereum surpassing Bitcoin as the mostly-used blockchain, that would be just temporary. Bitcoin is still the king of all cryptocurrencies and the mostly-used cryptocurrency for P2P transactions. Not only that, it's the main gateway for cryptocurrencies to be converted to cash. For now, I don't see platforms where USDT can be converted directly to fiat though.
As for the dominance of Bitcoin, it may not be the end. Altcoin season may be just starting, but they can't take over Bitcoin's dominance in a long while.
well if we change the real definition of "dominance" into a fake one while using a fake number to measure it then the answer is obviously yes. it is trivially easy to create a shitcoin with a huge fake number called market capitalization thanks to the ability of creating trillions of supply with click of a button with virtually no cost. in fact that is how all the "top 10" altcoins took their ranks in this fake ranking system.
but in reality dominance is not defined that way at all. nobody cares about market cap. the important factors that define dominance is adoption, utility, security and decentralization. and no coin has ever come close to 5% of what bitcoin has.
but in reality dominance is not defined that way at all. nobody cares about market cap. the important factors that define dominance is adoption, utility, security and decentralization. and no coin has ever come close to 5% of what bitcoin has.
The bitcoin dominance will not go to an end because bitcoin will still lead the crypto market. The altcoin will be behind on bitcoin, and even the altcoin can lift the price, the price will not have a chance to pass the bitcoin price. It is normal to see the bitcoin price is down because that can give the altcoin time to move from the low price to the high price. And if the altcoin have a big support, the altcoin will try to make ATH. That will happen too with bitcoin price, and bitcoin price will reach the new ATH soon.
Like what others have said, BTC dominance became shaky when the ETH period was being run, and really, that was just an instance of people being pushed by the crowd towards ETH back in 2017. Adding to that, Bitcoin has basically asserted dominance for the past 7 years before ETH came, and even when ETH came, it failed to topple the overlord. Just based on these 2 facts, any crypto enthusiast would probably see that Bitcoin is a lot better than altcoins in the overall popularity.
Besides, most altcoins (if not all) have the tendency to spike up and down randomly, mostly due to the manipulations of the companies behind them. How would you even expect to topple Bitcoin if the basis for it was instead partly manipulated by people? Whereas Bitcoin can solely be attributed to its ability as a cryptocurrency. Plus, we've been here before. BTC dominance is stronger than ever, and would only grow, unless a better coin (unlikely) pops out.
Besides, most altcoins (if not all) have the tendency to spike up and down randomly, mostly due to the manipulations of the companies behind them. How would you even expect to topple Bitcoin if the basis for it was instead partly manipulated by people? Whereas Bitcoin can solely be attributed to its ability as a cryptocurrency. Plus, we've been here before. BTC dominance is stronger than ever, and would only grow, unless a better coin (unlikely) pops out.
That's very unlikely for me, Bitcoin is the most established and popular in the Crypto space as well for many countries and businesses local or online, in fact it has been called as most profitable investment of the decade. I think, if Bitcoin falls due to another altcoin taken over would end the entire Cryptocurrency market because investors would think Crypto investment is just a bubble and would never trust it again as an legitimate asset.
I wonder why people always think about that while the fact is when we talk about cryptocurrency the bitcoin will always came on our mind and for sure its dominance will not be replaced for any new comers in the market. maybe we should stick on the though on how we contribute for good awareness for betterment.
Speculation does not mean to be right, anyone can make realistic and crazy speculation without being judge because we never know what would happen to the market in the future, of course it's possible that bitcoin will be replace on its current spot now, but we have our own prediction.
For a coin to beat the dominance of bitcoin, it's a hard mission, even if bitcoin will drop it's dominant rate at 30%, I think it will still dominate the market as we have a lot of coins that will divide the 70%, unless one altcoins will rise in the competition and will leave other altcoins, which is unlikely to happen IMO.
For a coin to beat the dominance of bitcoin, it's a hard mission, even if bitcoin will drop it's dominant rate at 30%, I think it will still dominate the market as we have a lot of coins that will divide the 70%, unless one altcoins will rise in the competition and will leave other altcoins, which is unlikely to happen IMO.
theres only 1 altcoin that i know that are big enough and that is etherium but when i look at eth its power still not enough to overcome bitcoin so how much more other altcoins , they are only smaller than etherium .
we all have our own speculation and its our right to disagree with what ever we saw but we can believe only on our own if we wanted too . btc still dominates the entire market based on many indicators but it could be lower now because of many reasons too
I am among those who always monitor the movements of Bitcoin in the market every day, and Bitcoin always dominates the market
above 60%. This proves that other coins will be difficult to replace the position of Bitcoin, so based on the results of my analysis,
Bitcoin will dominate the market at least for long-term. And the conclusion is the dominance of Bitcoin is not likely to end.
above 60%. This proves that other coins will be difficult to replace the position of Bitcoin, so based on the results of my analysis,
Bitcoin will dominate the market at least for long-term. And the conclusion is the dominance of Bitcoin is not likely to end.
It appears to me like it's just mostly people trying to get rich quick that are pumping some of these altcoins. One of ETH's main use cases is still people trying to print their own money with all these useless tokens. Defi just seems to be people moving Chuck E. Cheese tokens around so they can be rewarded in other kinds of Chuck E. Cheese tokens. It's not at all like traditional finance where you're actually investing in things with inherent value. Then there is Tether, which if you exclude transactions that are only using ETh as gas then Tether is the most popular altcoin, continuing to print more and more USDT without any accountability. People using tokenized fiat defeats the purpose of cryptocurrencies even existing in the first place.
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