Bitcoin Forum

Today bitcoin Competes with more than 1600 other Cryptocurrencies for attention

many of those have social missions, like development of economic strucutres, giving funds to young dentists etc.

while bitcoin still is mainly all about competitive large scale waste of ressources.

so if you still wonder why bitcoins price drops i tell you:

today bitcoin competes for fiat investors attention with 1600 other cryptocurrencies.

additionally bitcoin is even technologically aged. and has to justify itself with other cryptocurrencies that had a much higher funding regarding tech development like ripple.

i hope that helped answer a lot of questions.

regards

As Bitcoin's price has been falling, its dominance in the market has been increasing (https://coinmarketcap.com/charts/#dominance-percentage).  This means that however far Bitcoin has been falling, these "1600 other cryptocurrencies" (most of which have basically no value) have been falling further on average.
Thus, it is known to be secure and it has a stronger brand.  This is far more important than you seem to realise.
If you chat to some young dentists, do you think they'll mention all the money they got from these lovely ICOs?

its not about the money its about the capital itself.

I don't know how us professional programmers in the past ever managed to write software that worked (Unlike Bit-coin scaling trouble)
without ever using CPU-Wars to confirm a financial transaction.

Fees from the greedy miners killed bit-coin and right about now we can expect to see secondhand 1080 graphic cards hitting the
market as we find out who's really got the weak hands.

They (Miners) were begging to run banks on the lightning network and thought they could fool the public by calling them "Hubs" but that
cat got out the bag https://www.youtube.com/watch?v=UYHFrf5ci_g  and unless this boil is burst then none of the other alt-coins will do well
as justice needs to be served over fees hitting $55 per transaction 

Bitcoin is not a company.  As a decentralised project, its funding comes from whoever wants to donate.

If a "cryptocurrency" gathers funding through other means (such as through an ICO) it's not a grassroots project and one group has far too much control over its future direction.  In many of these cases, it is centralised and thus the main purpose is defeated.

ok look there will be in the future maybe thausands of similar projects, for soulless empty cryptocurrencies, you will then have to compete for attention with all of them, but unlike for example a "decentralised greed coin", like bitcoin, there will be at leat coins with missions behind them it and there will be some product not just ressource wasting.

why is that you dont get that you are now competing for "attention" with countless other cryptocurrencies, among which there are many empty ones, that are completely just garbage?

seriously when i find a good forum for cryptocapitalism i will leave this board, it has no future the way it currently is.

this forum this community and this "bitcoin" are done they will loose meaning completely.