Title: Marketcap & BTC Dominance Post by: gcxc on August 31, 2017, 04:57:58 PM As the marketcap marches to 250b and higher, what are the thoughts as ti the BTC MARKETSHARE?
Since last year this has eroded, but will that slide continue? Or will money begin to move back to BTC as the STANDARD, especially as realization sets in for: - difficulty - scarcity - FOMO There will come a time when few are willing to part with all or a part of their BTC until certain price points are met. That, in my opinion, will cause a huge spike that has yet to be seen and a scramble to buy BTC, meaning a gold rush, per se, into this king if the coins. At THAT point, tulipmania will appear. Title: Re: Marketcap & BTC Dominance Post by: iamTom123 on August 31, 2017, 05:07:58 PM I have been hearing too much about this tulip bulb bubble that happened centuries ago and many would like to attach that story into the Bitcoin timeline. I am not saying that a bubble will not happen with Bitcoin but for me there are some differences here...for example we can produce as many tulips as we want but Bitcoin has a limited supply. Tulip has a very limited intrinsic value to speak of while Bitcoin is now considered as the digital gold and now taking the title as the safe haven.
In case we are really sure that a tulip-like bubble is about to appear then maybe it is time to launch an educational campaign globally telling people not to buy or invest their hard-earned money with Bitcoin. Maybe it is time to pass a law punishing people who are involved with Bitcoin since an economic disaster is about to happen due to adopting Bitcoin. Maybe we should just forget Bitcoin and pretend that there was no real Satoshi Nakamoto and there was no such story as ordering pizza using Bitcoin. Then maybe we should all quit from this forum. Maybe yes maybe no. Title: Re: Marketcap & BTC Dominance Post by: franky1 on August 31, 2017, 05:24:36 PM market cap is meaningless.. the maths of getting to the marketcap is meaningless.. its based on the price of 1btc multiplied by coins in circulation.
it does not explain real demand it does not explain utility.. anyone can create a new altcoin with 300 trillion coins and sell a single coin for $1 and beat the market cap what people need to care and monitor is the utility. for instance merchant acceptance. such as if merchants start using other services such as allowing a litecoin ATM in their establishment instead of a bitcoin ATM if coinbase jumped over to using litecoin for its merchant shopping cart API service if bitpay jumped over to use BCH so stop caring about market cap as thats just a bubble number for fiat lovers.. and instead keep an ey on utility/market share Title: Re: Marketcap & BTC Dominance Post by: davis196 on September 01, 2017, 12:01:23 PM Bitcoin's share of market cap will change direction and begin increasing continuously. You have no evidence to prove your claims OP. :) I don`t want bitcoin marketshare to increase because this will prove that a bubble is coming on the horizon. All the strong cryptocurrencies should grow.The pump&dump altcoins will crash and clear the market and this is something good. Title: Re: Marketcap & BTC Dominance Post by: alyssa85 on September 01, 2017, 01:11:38 PM anyone can create a new altcoin with 300 trillion coins and sell a single coin for $1 and beat the market cap If it was that easy to do, doge would be worth $1. In order to sell something for $1, someone has to agree it's worth buying it for $1. And that is hard to achieve, you have to persuade the investor of it's worth. Which means marketcap is a good proxy for where investors think value is. At the moment bitcoin's share is less than 50% of the total cryptocurrency marketcap, which means investors think there is more potential in alts than in bitcoin. And they're putting their money where their mouth is. Title: Re: Marketcap & BTC Dominance Post by: Pursuer on September 01, 2017, 02:41:52 PM As the marketcap marches to 250b and higher, what are the thoughts as ti the BTC MARKETSHARE?
Quote Since last year this has eroded, but will that slide continue? yes as I said above. and here: https://bitcointalk.org/index.php?topic=1842964.0Quote Or will money begin to move back to BTC as the STANDARD, especially as realization sets in for: the money you have in mind is mostly the traders who will always fly around in the market from one market to another to make the most profit. they never go anywhere and they never stay in 1 place. they went to join the altcion pumps and they came back with bigger pockets and they go back again after bitcoin rally slowed down to take a breath.- difficulty - scarcity - FOMO Title: Re: Marketcap & BTC Dominance Post by: maokoto on September 01, 2017, 02:57:17 PM Yes, marketcap is somewhat deceitful in multiplying supply x price, just because if someone were going to sell, say only 10% of bitcoin in circulation all at once, its price (and thus marketcap) will go much lower than that 10%.
However, I think it shows the strength of bitcoin somewhat. In fact, I have never seen BTC in a second position despite theoretically someone could create a coin with trillions of supply and buy it for some dollars to make it go down. Title: Re: Marketcap & BTC Dominance Post by: BrewMaster on September 01, 2017, 03:28:05 PM the only people who care about market cap share of bitcoin are altcoin advertisers. specifically ethereum shills because their coin has 72 million premined coins in possession of their foundation overlords. and on top of it the rate of its creation is stupidly high and soon will be 100 million.
obviously bitcoin share of the total market cap will be small it its 16 million circulating coins! Title: Re: Marketcap & BTC Dominance Post by: Xavofat on September 01, 2017, 04:04:37 PM specifically ethereum shills because their coin has 72 million premined coins in possession of their foundation overlords. Twelve million you mean. Sixty million were in the ICO.and on top of it the rate of its creation is stupidly high It's a lower rate as a percentage than BTC started with, because BTC wasn't premined.obviously bitcoin share of the total market cap will be small it its 16 million circulating coins! There are many reasonable ways of insulting altcoins. Please use them.BTC dominance will depend on the result of the New York Agreement. If there is a clear leader between the two chains, it will be particularly bullish. Title: Re: Marketcap & BTC Dominance Post by: iram1011 on September 01, 2017, 04:10:38 PM Why so much hatred for marketcap?? There is an increase in Bitcoin marketcap only because of increase in price as supply is way too limited. The increase in price in turn related to increase in demand or utility only. This shows there is increased investor's interest in Bitcoin and hence shows Bitcoin is gaining ground among traditional monetary system. Marketcap is useless when we compare two cryptocurrencies. But here considering marketcap as a growth of Bitcoin is quite justified.
Title: Re: Marketcap & BTC Dominance Post by: BrewMaster on September 01, 2017, 05:20:24 PM specifically ethereum shills because their coin has 72 million premined coins in possession of their foundation overlords. Twelve million you mean. Sixty million were in the ICO.Quote and on top of it the rate of its creation is stupidly high It's a lower rate as a percentage than BTC started with, because BTC wasn't premined.creation rate is how many coins are created in a timeframe like 24 hours. bitcoin: 2025BTC per day ethereum: 17705 ETH per day (8.74x faster) Quote obviously bitcoin share of the total market cap will be small it its 16 million circulating coins! There are many reasonable ways of insulting altcoins. Please use them.Quote BTC dominance will depend on the result of the New York Agreement. If there is a clear leader between the two chains, it will be particularly bullish. there is always going to be only one bitcoin. whether it is current bitcoin or 2x bitcoin or cash bitcoin or blah blah bitcoin doesn't matter. the chain with majority support will be bitcoin.and its dominance will always be all the things i mentioned above. and it will only drop in case for example if merchants stop using bitcoin and start using an altcoin. and until that day altcoins will remain useless. Title: Re: Marketcap & BTC Dominance Post by: Xavofat on September 01, 2017, 05:39:36 PM specifically ethereum shills because their coin has 72 million premined coins in possession of their foundation overlords. Twelve million you mean. Sixty million were in the ICO.Quote and on top of it the rate of its creation is stupidly high It's a lower rate as a percentage than BTC started with, because BTC wasn't premined.creation rate is how many coins are created in a timeframe like 24 hours. bitcoin: 2025BTC per day ethereum: 17705 ETH per day (8.74x faster) BTC dominance will depend on the result of the New York Agreement. If there is a clear leader between the two chains, it will be particularly bullish. there is always going to be only one bitcoin. whether it is current bitcoin or 2x bitcoin or cash bitcoin or blah blah bitcoin doesn't matter. the chain with majority support will be bitcoin.and its dominance will always be all the things i mentioned above. and it will only drop in case for example if merchants stop using bitcoin and start using an altcoin. and until that day altcoins will remain useless. So Bitcoin was useless when it was released because no merchants accepted it? IMO it's important to consider the exact use cases behind an alt more than how popular it already is. |