Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BTCMILLIONAIRE]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Altcoins are predominantly denominated in BTC. So when BTC goes up by X%, alts will usually go up by at least X% as well in terms of USD. This will cause people to think that alts are entering a bull run, which might trigger buy orders that will drive up their price in terms of BTC as well, which will ultimately lead to a price rise above the X% of BTC in terms of USD.

[somac.]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

With the number of coins slowly losing dominance over time is expected, but, this loss has been quick. What's more, we are likely close to another coin becoming the market leader. Can you imagine that, A banker coin like ripple, and a broken dictator coin like ethereum becoming the peoples choice.

I should never of expected different I guess, most people in this world are dumb arse sheep only care about profits rather than making the financial system better.

[somac.]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Altcoins are predominantly denominated in BTC. So when BTC goes up by X%, alts will usually go up by at least X% as well in terms of USD. This will cause people to think that alts are entering a bull run, which might trigger buy orders that will drive up their price in terms of BTC as well, which will ultimately lead to a price rise above the X% of BTC in terms of USD.

Why is that happening only now and not before?

[Wekkel]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

It could indeed be another 'alts surpassing Bitcoin' in terms of drive towards higher prices. A Bitcoin stagnant - Alts booming kind of thing. Not completely irrational since not all alts are trying to solve the problem Bitcoin is trying to solve. But it makes reading the markets harder.

[bitebits]

Simply see the cost return comparison.

https://docs.google.com/spreadsheets/d/11QS1BBV11KNGTF8N_-fdfmjTZ3WzPQFbLfVrl5n6R8s/edit#gid=1194614223                              

Thanks for sharing, gives me a bit of insight into the world of mining. It is much more easy to just buy those bitcoins straight.
On the other hand it is much more fun to mine them. And when you see those machines humming all day, and realize how competitive and hard it is to obtain a fraction of a bitcoin, you consider even a single bitcoin very valuable.

[BTCMILLIONAIRE]

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Altcoins are predominantly denominated in BTC. So when BTC goes up by X%, alts will usually go up by at least X% as well in terms of USD. This will cause people to think that alts are entering a bull run, which might trigger buy orders that will drive up their price in terms of BTC as well, which will ultimately lead to a price rise above the X% of BTC in terms of USD.

Why is that happening only now and not before?

Volume. There's much more people interested in catching the next "big coin" that buy up altcoins these days. Not too long ago alts were largely frowned upon (for good reasons), but this is slowly changing with innovation and adoption.

[BTCMILLIONAIRE]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

With the number of coins slowly losing dominance over time is expected, but, this loss has been quick. What's more, we are likely close to another coin becoming the market leader. Can you imagine that, A banker coin like ripple, and a broken dictator coin like ethereum becoming the peoples choice.

I should never of expected different I guess, most people in this world are dumb arse sheep only care about profits rather than making the financial system better.

This effect is bound to accelerate with the growth of the overall crypto market. The more people buy into Bitcoin, the more people will find interest in altcoins and the larger the potential volume that can trigger growth in altcoins will become. It's a snowball effect.
A question that I find interesting is whether or not Bitcoin will regain dominance massively once the "big crash" comes and useless shitcoins as well as all the ponzis and scams get obliterated.

[somac.]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

With the number of coins slowly losing dominance over time is expected, but, this loss has been quick. What's more, we are likely close to another coin becoming the market leader. Can you imagine that, A banker coin like ripple, and a broken dictator coin like ethereum becoming the peoples choice.

I should never of expected different I guess, most people in this world are dumb arse sheep only care about profits rather than making the financial system better.

This effect is bound to accelerate with the growth of the overall crypto market. The more people buy into Bitcoin, the more people will find interest in altcoins and the larger the potential volume that can trigger growth in altcoins will become. It's a snowball effect.
A question that I find interesting is whether or not Bitcoin will regain dominance massively once the "big crash" comes and useless shitcoins as well as all the ponzis and scams get obliterated.

If a big crash happens. They might just drop off one by one, only to be replaced by more new entrants.

[rolling]

I think alts are a disease and we won't have another 10x or 100x increase until the alts largely die off. Every time bitcoin pumps and the alts pump even harder, it is like cancer overtaking the body every time it starts getting healthy. This sickness will have to run it's course and when the disease has been cured/eradicated, bitcoin can finally grow to it's true potential. This will probably take a few more years.

[JayJuanGee]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

[mymenace]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

Crypto War successful and ongoing (block size, transactions, hard forks, media)

create less reliance on bitcoin and more on centralized tokens

pump alts, sell tokens to newbs

create national tokens (russia coin, Petro coin etc), pump for newbs

sell into bitcoin - big pump (Huge) before next battle on bitcoin exchanges (corrupt, broke, no reserves, multiple exchanges as well as other btc scams)

legislate exchange and ban btc to promote national crypto

btc crash and they hope for good

lets see how it all pans out (within next 10 months)

[bitebits]

[...] even if you are still spending a considerable amount of time trying to figure out what it is that you invested into, exactly.  hahahahahaha [...]

Working on that on almost a daily basis since Q3 2013. And admittedly still barely have a clue. But since it glows in the dark I can't stop looking at it and investigate why.

[...] Sitarow, would likely fit my rough relative timeline categorization of a BTC OG)...

https://www.urbandictionary.com/define.php?term=OG does not help me much here. What?

[Last of the V8s]

many predictions out there that 'dominance' will fall to 18-22% in 2018 because
greed/newbie speculators/organised pumps/airdrops'n'forks/direct fiat-alt pairs on many exchanges incoming

ready for other stupids: fake news (Peter Woolly is a sex pest(video proof), Maxwell ate my hamster). BCH at 0.45. Lightning not perfect and it's July already (Sept, Nov). Precious metals minor pump. ICO prosecutions=bitcoin is bad. China bans. UK to propose btc is 'against national economic interest' therefore terroristicalist. ETH hacks. Onramps 'hacks'/scams/regulation. No global meltdown in Spring. Or Summer.

we: 'really?'

[JayJuanGee]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

With the number of coins slowly losing dominance over time is expected, but, this loss has been quick. What's more, we are likely close to another coin becoming the market leader. Can you imagine that, A banker coin like ripple, and a broken dictator coin like ethereum becoming the peoples choice.

I should never of expected different I guess, most people in this world are dumb arse sheep only care about profits rather than making the financial system better.

This effect is bound to accelerate with the growth of the overall crypto market. The more people buy into Bitcoin, the more people will find interest in altcoins and the larger the potential volume that can trigger growth in altcoins will become. It's a snowball effect.
A question that I find interesting is whether or not Bitcoin will regain dominance massively once the "big crash" comes and useless shitcoins as well as all the ponzis and scams get obliterated.

Yes.  I think that the snowball effect analogy is a good one, yet I don't think that it matters that much whether bitcoin gains or regains dominance because in the end bitcoin is going to remain king because it's fundamentals are the strongest....

I think that one decent side effect of the alt coin craze involves the kind of diversion effect that it has in terms of being able to bring a lot of capital into the crypto space that ultimately is going to allow bitcoin to grow and grow and grow without bitcoin having to serve as the main focus, whether it is regulations, innovations or even investment, and a lot of that money is going to flow back into bitcoin in one way or another and support the bitcoin ecosystem, one way or another even while many of those other coins are simultaneously leeching off of bitcoin's security and strength of its infrastructure.

I may be contradicting myself because in the short run, I am suggesting that we should not give too many ratts' asses about bitcoin's dominance or whether there are various flippenings, ripplings, cashenings, dashenings, etc... so in the short run confusion and even diversion of funds into a variety of other crypto projects, but in the longer run... maybe 30 years.. good money is going to flow into the good asset, which is going to likely remain bitcoin based on bitcoin's security and longer term strong foundations... there may be one or two others, such as Monero that also can keep a decent foundation... but coins like ETH might have some difficulties keeping up because of their being so spread out and likely going to lose money through their many security lackings... and I am surprised that they already have not been brought down a few times by some of the bugs and the fact that so many scam coins have been using them.  Coins like ETH are also going to have centralization like difficulties that may cause regulatory issues, unless they can increase their decentralization of their quasi-centralized aspects.. but they don't seem to be heading that way.. especially talking proof of stake mumbo jumbo baloney, which does not seem to help with centralization aspects of those projects/coins.

[JayJuanGee]

I think alts are a disease and we won't have another 10x or 100x increase until the alts largely die off. Every time bitcoin pumps and the alts pump even harder, it is like cancer overtaking the body every time it starts getting healthy. This sickness will have to run it's course and when the disease has been cured/eradicated, bitcoin can finally grow to it's true potential. This will probably take a few more years.

I largely agree with you, but I really don't think that alts are as negative as you are making them out to be because they both cause a stagnation of bitcoin's growth but they cause fuel for bitcoin's growth too... both of these dynamics are happening at the same time... and the honey badger does not give a shit.   

[Sitarow]

I think alts are a disease and we won't have another 10x or 100x increase until the alts largely die off. Every time bitcoin pumps and the alts pump even harder, it is like cancer overtaking the body every time it starts getting healthy. This sickness will have to run it's course and when the disease has been cured/eradicated, bitcoin can finally grow to it's true potential. This will probably take a few more years.

The real issue is how Bitcoin cash Bitcoin gold are being used to trade between cryptocurrency pair to prop them up. Pay attention to dash zec ltc eth.
Every time one of those pairs to BTC have lower trading  volume is being used to keep for instance ETH/BTC at a target of 0.0100 when BTC recovers then ETH/BTC goes past that 0.0102 and then those gains get drained and put into zec with the latest move.

[somac.]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.

What do the advertisers say? "you don't need a good product, just good marketing"

[Sitarow]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Altcoins are predominantly denominated in BTC. So when BTC goes up by X%, alts will usually go up by at least X% as well in terms of USD. This will cause people to think that alts are entering a bull run, which might trigger buy orders that will drive up their price in terms of BTC as well, which will ultimately lead to a price rise above the X% of BTC in terms of USD.

Why is that happening only now and not before?

Before people would only pay attention to BTC/xyzcoin trading pairs.

Now we have the copycat namesake and all BCHBCCBcash that is being used to move and pump/dump between alt trading pairs.

BCH and BTG are like us creating another USD and having special interest groups declare it legal tender.

This "trend" needs to be addressed much like fraudulent ICO's have.

This really falls on the responsibilities of the exchanges.

[JayJuanGee]

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.

Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.

Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

Crypto War successful and ongoing (block size, transactions, hard forks, media)

create less reliance on bitcoin and more on centralized tokens

pump alts, sell tokens to newbs

create national tokens (russia coin, Petro coin etc), pump for newbs

sell into bitcoin - big pump (Huge) before next battle on bitcoin exchanges (corrupt, broke, no reserves, multiple exchanges as well as other btc scams)

legislate exchange and ban btc to promote national crypto

btc crash and they hope for good

lets see how it all pans out (within next 10 months)

It's going to take a whole hell of a lot longer than 10 months for all of these things to play out.

I agree with you mymenace that a lot of these things are happening and a lot of like things are going to happen in the crypto space and maybe even attempts to target and to undermine bitcoin, but even if a lot of these things happen all over the globe, it does not result in bitcoin successfully being stagnated and repressed, even though there might be some shorter-term and localized successes that might only last a short period of time because bitcoin is all over the fucking place, and there are a lot of governmental difficulties to coordinate, even if BIG ASS financial players attempt to coordinate their attacks on bitcoin, even the BIG ASS financial players are not sufficiently unified to pull off some kind of successful unified repression of bitcoin on a world-wide basis...

TLDR - bitcoin has become too BIG, too decentralized and too strong to kill...  the toothpaste is out of the tube, and it's like trying to kill the internet; good luck with that..

[rolling]

Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.

What do the advertisers say? "you don't need a good product, just good marketing"

In that case, bitcoin was fucked from day one. 21 million coins for the entire world economy was never going to work. Most world citizens (>99%) have never had $8750 at one time in their lives. They will never buy bitcoin at that price. They will buy Ripple for $1 instead.

EDIT: Yes, I know they are divisible but the average idiot can't comprehend that.