Bitcoin Forum

This is fast breaking news. For the first time ever this morning bitcoin fell below 50% market share of all crypto.

Updates to follow...


Edit to add article:

https://www.forbes.com/sites/laurashin/2017/05/16/for-first-time-bitcoin-accounts-for-less-than-half-of-market-cap-of-all-cryptocurrencies/?s=CuttingEdge

Bitcoin's share of the total marketcap (not its dominance) is decreasing because of a very simple math.

market capitalization = supply * price

increase the supply you increase the marketcap.
increase the supply to a ridiculous number like 100 billion you get a ridiculously big marketcap.
now have hundreds of altcoins with ridiculous numbers you get a huge total marketcap in which bitcoin has a tiny share.

Manipulation 101 (https://bitcointalk.org/index.php?topic=1842964.0)

I think its a sign that the market is big enough to accommodate more than 1 crypto, I don't think bitcoins position as number 1 is going to be threatened anytime soon though.

this could have been true if the market cap grew with a more logical speed not with the speed that it grew in the past month.

did you even know that the total market cap of altcoins alone has grown about 25,000,000,000 USD in past month alone?! if that is not screaming bubble to you then maybe you don't want to hear it.

and by the way bitcoin is number because all the other altcoins are pretty terrible. if there was any half decent ones they would have already grown big not go into a pumping bubble.

Doesn't really mean much, bitcoin is so much further ahead in every other aspect. New altcoins are popping up all the time so it's only natural that bitcoin's dominance will drop below 50%.

Good thing that no one cares.  There are hundreds of completely worthless alts with market caps of >$1,000,000 even if their trading volume is just a few thousand.  All it takes is a meaninglessly large supply.

Plus, hate to break it to you but Ripple barely counts.

No single altcoin is even halfway to Bitcoin, and even if they overtook it no one should care.

Ripple is going nuts with a market cap of nearly $12 billion right now. I feel really sorry for those that enter the market at such ridiculous levels. But this isn't anything surprising, neither is interesting. The far majority of the coins are in the hands of a few entities that nearly fully control the supply of circulating coins. It basically means that a very low number of coins is available on-exchange, and thus it's easy to pump the price to insanely high levels (as is happening right now). It's purely an artificially created shortage of tradable coins. It has absolutely nothing to do with legit demand that causes the price to go up.

I was quite shocked that bitcoin dominance could fall down under 50%, I think it is caused by the alt coin which has a good price in this few weeks and caused more people to invest in alt coin, but in the end all will come back to bitcoin because there are no place that accepted alt coin

Fake market caps are really "breaking news". Ripple is not even a crypto-currency like Bitcoin. Maybe you should use this Metric:

https://i.imgur.com/65bph0a.png

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::)

Ripple market cap should come back to below 2 billion in my opinion , the ripple bubble will burst soon and these money should come back to bitcoin or at least to a less scummy alt   ;D
anyway these days I don't care about the dominance , cause the price of bitcoin is really nice and all of us made profit

Market cap is not the most important metric when measuring adoption but it is an interesting one looks like the migration towards altcoins is well underway although I expect some sort of correction.

Bitcoin is not under threat, because when the bubble bursts all the money will return to bitcoin. It is the best, but for development, fluctuations in price are necessary.

these guys understand it


in short make an alt with 5trillion coins premined.. put ONE.. yes ONE coin on an exchange and sell it to yourself for $1.. yes spend just $1.. and BAM market cap of that coin is $5trillion

market caps are a MEANINGLESS number. its a bubble number backed by nothing.
there is not $5trilling backing the premined coins i used in my example. just like there are not $28+billion in bank accounts backing bitcoins market cap. nor any other altcoin.

the sooner people realise this and stop giving a crap about market cap, the better.

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here are things people SHOULD care about:
how many merchants accept coin X
how many employee's are working to do something within a certain coin, (devs, consultants/trainers, convention organisers, device(HWwallet/asic,etc) manufacturing employees, payment processors/exchanges etc, etc)
how many users a coin has

though some of these details are not easy to find. they are a hell of a lot more important stat than market cap

Most people don't look at the total coin supply, and that's exactly what people behind these pumps aim for ~ to make noobs jump over and settle on their ship full of worthless premine coins.

At the end, real world usage is the main point that you should focus on. Ether, XRP, Dash, and the list goes on, they are all being pumped like never before, but they barely enjoy any sort of usage aside from speculation.

Ether is the currency of choice for ICO's now, its true however that it has little other usage, XRP and Dash I agree aren't very good for anything but speculation.


You have a good point about the speed but consider that they may have been undervalued before. What I really look at is the fact that a lot of alts are actually quite good, it is true in the past alts were generally trash but they are now pushing the limit of what is possible with blockchain technology. By comparison bitcoin is a very basic crypto and its only enjoying top status because it was the first, had it arrived at the same time as the other alts it would have never made it to the top.

I believe a lot of alts will crash but I think there will be several that will survive and the market definitely can accommodate them now.

by looking at the title i thought it was more or less a click-bait article that you might have posted here. turns out, it is indeed a click-bait, but not an article. market caps have proven to be a poor indicator, and once again it proves itself to be the case again. by looking at the total coin supply, ripple has gone over bitcoin's market cap already. it's clearly visible in the screenshot posted by lauda.

look for yourself https://coinmarketcap.com/currencies/ripple/

Finally. It is only used as some kind of payment and the fees are outrageous, unless you are transferring large sums of money. And in every Bitcoin promo there is "low fees", "fast transactions". Try sending a transaction with less than 0.0002 fee and see how long it takes...

On the topic: great! I was expecting it to drop like this soon, after seeing it dropping from 80 to 70 and then 65. Other coins are getting adoption, and just have better potential.

These aren't sustainable market caps.i don't know what is causing this surge in price on the alts but it won't hold its prices long term.

How stupid of me, I wasn't even paying attention to the exact number of the circulating coins of Ripple. I kept focusing too much on the +$12 billion market cap, completely overlooking the fact that by value per coin/total supply, Bitcoin in market cap is already surpassed (which obviously is completely meaningless). Gahh... :-X

The crypto market is growing rapidly and this is good news.
Bitcoin get stronger and some og the bigger altcoins grow pretty fast at the same time.
This means that new people enter the crypto world every day.

It's a sign of nothing. With everyday, another new altcoin pops up. Because it's new, there will always be some people who'll see it as the next big thing and pump it for a while.

Bitcoin's market dominance may even go below %10 in a few years but it doesn't mean anything. No other coin will have the same volume as bitcoin, no other coin have the same acceptance by the business owners, nobody hodl shitcoins in the long term. Those are the things which matter, not market dominance.

Yeah surely even ripple supporters should realize that the current price can't be sustained, ripple real usage isn't even 1% that of bitcoin yet technically its market cap is bigger.


Some coins are as you say shitcoins but a lot of alts have real use and real relevance they are the ones who will keep value long term. There is nothing that bitcoin does that can't be replicated by other coins and the only reason its got top spot is because it was the first to come out.

Markep cap doesn't mean anything.

What matters is the number of transactions in the lst 24 hours. As long as bitcoin is #1 it's status is secure. The coins like Ripple which are being pumped at the moment, will dump, because no-one actually uses ripple.

At the moment the only coin that might catch BTC is ETH because it's doing about 120,000 transactions a day and the amount is continually rising, which means people are using it.

Not COMPLETELY true because the price of altcoin could be VERY LOW.
Of course there are lots of alts.
But what's interesting is that they have not a void price at all.

That is until ETH will go to proof of stake and not proof of work a few months later this year. Ethereum is being hold mostly by the developers themselves and very few of Ethereum is actually in home miners or people who have bought it and are holding it because they believe in it. I think Bitcoin cannot be surpassed by an altcoin, because I think no other person is as genius as Satoshi Nakamoto.

"There is nothing that bitcoin does that can't be replicated"

That's all they ever can do. That's why bitcoin will stay on top because bitcoin is the original idea. Those shitcoins are only bad copies of bitcoin. People invest in he original one because the others were too stupid to invent a cryptocurrency before bitcoin, how the hell they can be better than bitcoin now?

Bitcoin will stay as #1 because it is the first and the original.

But don't lose hopes, there will always be a second place available for the others. Eth owns that spot for now, as LTC owned it before and even Ripple did it too if i'm not wrong. Holy crap, ripple passed eth? When did it happen? That worthless piece of shit coin passed another worthless p.o.s. proves that market cap is just scam.

Yeah and to buy those altcoins you have to buy bitcoin first. So it is actually helping bitcoin.

Basically most of the alt-coins buyers are going through buying bitcoin first so I think the dominance of Bitcoin will happen long time from now.

Market capitalisation to me is not really a determining factor. There are several coins in the crypto space all fighting for relevance but comparing them to bitcoin because there was just a day dip for the bitcoin does not mean they are taking over couple with the difficulty being experienced in mining bitcoin these days compared to other alt happening around. All these put together to me does not displace bitcoin.

Rather than thinking about market cap of Bitcoin and other cryptocurrencies, we should think about popularizing Bitcoin physically. How we can introduce it to other people and how we can make merchants accept Bitcoin as a payment gateway.
These are the things people should think about.

There's nothing "breaking" about this. In fact, it's meaningless. You annoying trolls just arbitrarily picked a number to FUD about. Idiots.

That is not entirely true you could purchase altcoins using fiat too and all the major exchanges do accept dollars. One coin that has a major volume is Ripple and it is not a big issue as the alt coin scene has more than 260 coins and you really cannot compare one coin against the rest and say the dominance is less.

Do not follow ripple scam.

Follow security instructions.

I guess it is New altcoins is pumping and with large total supply, it is natural that bitcoin dominance will look like it drops below 50% but the truth is, the computation or calculation is flawed  :P.  How can you compare a billion coins to a 21 million coins and claim that 21 million coin is dropping in dominance when the truth this billion coins are just being pumped hard?

An infinitesimal number of coins are bought using fiat and while that is slowly changing, as of today it thats the way it is. If fiat becomes the dominant way to purchase altcoins btc price would drop.

Completely nonsense news. How on earth can you add any value to the fake market caps of altcoins with billions and billions in premine. As others explained -- even if the total coin supply is 10,000 billion, if you buy 1 coin at $1 -- the coin in question will have a $10,000 billion market cap. It's a cheap form of manipulation to make newbies fall for it.

To be honest another metric like trading volume is dropping  below 50% from time to time.

It's hilarious seeing all these triggered Bitcoiners.

M8 I have bad news for you, Ripple literally doesn't matter when it comes to being $12B and having a less than 50% total of the market cap for all cryptos doesn't really mean anything either, especially since it's basically a fiat currency taking on a digital form. With a total supply of 38B (that I believe is growing) and being valued at ~$0.38, it's nothing like a "normal" crypto and simply an extension of fiat.

Will it grow in value? Probably, but right now it doesn't really mean all that much.

I forgot to mention the obvious last time real reason we are seeing the shift to alts.

Bitcoin is too slow for transactions to different users particularly newbies who have no clue why the transaction is so slow and too costly in comparison to altcoins this is causing people who want faster usage and lower cost to move to altcoins.

Should be seen as natural as Bitcoin is moving to a premium coin while the rest are transitioning into the standard coins since we are stuck on a fork path the pattern may reverse somewhat if we get some consensus.

Sucks for the newbies who use faucets to learn about bitcoin, the transaction size and fees basically mean a faucet is a negative return which leads to another pattern in that altcoin faucets become popular and their usage increases instead.

https://bitcoinfees.21.co/
For the median transaction size of 226 bytes, this results in a fee of 81,360 satoshis. = $2 CAD is it really not obvious why we see this trend a toonie to spend a nickel ^^ no spam indeed.

That's actually a good point when you think about it. It would make sense if other cryptos start to become a bit bigger as transaction fees increase with Bitcoin, and I'm not sure if that's a great thing but it would definitely make Bitcoin start to fulfill the roll of "digital gold" or being the reserve crypto for the rest of the markets.
Surprising that XRP is beating ETH right now too.

Why Ripple scamsters should just at few more zeros to their maximum number of coins, then their """"""""market cap"""""""" would be phantastillions of dollars and XRP shills would have to type their shill messages with one hand while jerking off with the other all day long  ::)

just add "000000000000000" into the code, that's how they "mine" tokens, by typing numbers into a sourcecode

It makes me laugh; when Onecoin issued their internal, useless token, they were called fraudsters, but Ripple does precisely the same thing, just that XRP is on Poloniex so they have a "value" which is then multiplied by a huge number.

Market cap means nothing. The orderbooks for XRP are thinner as paper.... ;D

Oh no, not at all. ETH is complicated technology, Turing complete and all, mining and developing ETH takes real work. XRP is just created from thin air, not even premined, just "created".

In fact even fiat book money is "fairer", because it requires at least a loan to be created, so there is future work attached to it.

XRP is created like Zimbabwe dollar, but without the paper  ;D

Yeah let's just ignore the gigantic elephant in the room.

I can bet 1000BTC that everything you troll about XRP worth less than Zimbabwe dollar without the paper :D

Mathematically XRP can easily eclipse the entire Universe in market cap

It can be created in unlimited amounts: no interest rate, zero difficulty, and no entity like a central bank or a government, that controls the amount in any way

Ripple can say, well, "we define maximum number of tokens = 10^999999999999999999999999999999

But we are very nice and "lock up" 10^99999999999999999999999999" and XRP price will go to 10$ because there are enough idiots who believe that they are a rare commodity now.

Not sure, who is idiot:

a.) You by creating every possible conspiracy theory from air
b.) Traders that bought XRP since very your first negative post about XRP?

I bet 1000BTC on a.)

Despite the crudeness of the market cap measure, it does provide a quick yard stick that people accept as a quasi defacto measure of market importance.

The I posit correct marker is the trend, and this trend has been clear and only one way. The BU/CORE has hastened this.

Market cap does not mean a whole lot of beans.
Market acceptance does and XRP is gaining it in leaps and bounds!
 :P :P :P :P :P

Its irony, its drama, its soap to watch democratic-decentralised-"free world" BitCoin community altogether crying on loosing dominance, how does it go together with democratic-decentralised-"free world"?

Altcoins experience the time of their life as the bubble is growing larger and larger. Another thing that contributes is the fact that now Bitcoin has become an expensive asset to acquire (in relative terms), people are looking for cheaper alternatives with better profit making opportunities. Again, the growing altcoin bubble is attracting a lot greedy people too. It lasts till the bubble pops. After that a large portion of that money will flow into Bitcoin. Actual usage counts, everything else is pretty much irrelevant.

That's a good point, there really aren't any caps on XRP as a token and I'm kind of surprised that they're able to get away with something like having 38B tokens and yet still having them have some sort of value. It's nuts that it's being valued like that with such a stupid supply.
XRP will hopefully last for only a short time before falling down in its own right, something like that is unsustainable and unlikely to work out.