Everyone says that CMC dominance is irrelevant since it also includes stablecoins.
Everyone? Yeah right Biodom.
You make a strawman so that you can knock it down and then go on with your little shitshow to describe why you believe CMC is supposedly important, and in essence there are all kinds of reasons, beyond the mere existence of stable coins in the calculation to suggest that the coinmarket cap does not really get us very far in terms of comparing a variety of shitcoins to bitcoin or to compare the variety of shitcoins in their aggregate to bitcoin.. which is what bitcoin dominance seems to be trying to measure.
Yet, whatever params you use, there has been a sharp decline in btc dominance from the end of December 2020 (72%) to now (40%).
you got through that assertion quickly, since in the end, the punchline is that bitcoin dominance is going down, and that must be bad.
rrrrriiiiiiggggggghhhhtttttt
By the way, fucktwats put a lot of emphasis on CMC or at least throw it in there as if it were important when they are striving to make false equivalencies, as if any coin comes even close to bitcoin.. are you wanting to suggest that ethereum is all of a sudden important and somehow its various smoke and mirror defects have disappeared merely because a bunch of dumb twats seem to be buying it, currently?
First of all "has to reverse"? Get the fuck out of here.
You cannot quote a nearly meaningless metric and then assert that there is a need to panic because that meaningless metric is actually measuring information that is somehow important based on a bunch of shitcoins being pumped and dumb money not recognizing where the value is.
Maybe I am being too absolute with you to say that you cannot rely on a meaningless metric because you are relying on a meaningless metric.
I think that we already see where this is going. Ethereum et al are going to flippen bitcoin, and it seems best that you, Biodom, sell all your bitcoins and diversify into the various shitcoins that you believe are going to be good investments in this upcoming world with writing on the wall that you are foreseeing the supposed (inevitable for sure) doom and gloom of bitcoin. If you do not sell all your BTC Biodom, at least reallocate because we can see where this is going and once it is there, the damage is irreversible.. as you mentioned.
It is not a popular possibility around here
It's not popular because it is a stupid theory.
and my largely btc position would affect my worth (or the lack of it),
That is why it is better that you act now, rather than waiting.
but someone needs to point out that this scenario is possible.
You believe that you have been the first one to point out such nonsense and to rely upon such nonsense metrics.
You really take the cake sometimes, Biodom.. with your frequent search for reasons to express doom and gloom while supposedly being a bitcoiner... hard to know what to believe when listening to you.
TLDR; a bear market starting in 1-2 wk to smash alts or a true multi-polar crypto world is coming.
Thanks for the warning...
NOT
Btc ETF approval could swing the balance back in btc favor,
Anything else, or is BTC ETF the ONLY thing that we got potentially going for us.
Please god.. please god (or USA Government - whoever reads this first), bitcoin needs you to rescue us HODLers with an ETF. We are desperate.... otherwise we are doomed to poverty or maybe something worse
(get more details, as needed, from Biodom)...
but I don't see anything else doing it, judging by the current dynamics.
I guess we are fucked, then.
That sucks.
More specifically, sucks to be a BTC bag hodler.
[edited out]
Off course CMC is relevant. Perception is everything to retail traders, they don't work on actual analysis, and CMC is one reason we are losing/lost them. I leave the computer for 10 hours, check price when I get back BTC is lower and shitcoins are higher. Zero retail interest in BTC. All time low dominance is at 32% will we get there?
As you say, unless we see a major market crash that is not just aimed at BTC, we will take out those lows. With so many extra shitcoins this time its hard not to take out the lows honestly. The real question though is does ETH flip BTC? if so, that is a psychological hit that will deeply scare.
this sounds really horrible, somac.
For 10 years now BTC has been attacked at all levels by all relevant authorities and charlatans, the shitcoins encounter none of this, it's amazing we have held on so long.
Hm? I wonder why there still is nothing that is even close to bitcoin in terms of various shitcoins?
You mean ethereum is next to bitcoin?
Get a fucking grip. Just hope that you are not holding too much of that crap, so sure the price is rising right now, and maybe it would be good to sell some.. but then again, if you want to gamble, sure hold that shit.
or are you referring to another coin? Doge? or one or both of the bcashes? or do you mean some solid project that is built upon the solid project that we call ethereum and that whole ecosystem of crap? yeah right .. you (and Biodom) should be posting your various doom and gloom nonsense and your optimism in regards to crap in some other thread, no?
Will these forces of evil finally win?
The short answer is: "yes"
In other words, cut your looses.
History shows time and time again how retarded the sheeple are,
Yes, and you should use that as your investment thesis because of course that crap is going to continue to pump.. so get the fuck into that stuff.. what you doing in bitcoin when it is just going to lose value, relatively speaking?
the sheeple always seem to go along with those who want to hurt them, so long term it's not promising.
Gosh, and I thought that things in bitcoinland were going so well... now I find out that there are real credible reasons for concern.
The tops in...
bitcoin bear market pending...
Fuck stock to flow and those other more optimistic BTC price prediction models.. they are no longer valid.
You heard it here first.
I hold out hope though that BTC pulls through and retains it's dominance.
Sounds like a long shot though, no?
When I hear about long shots, then that sounds like gambling rather than investing.
I thought that I was investing, but if the situation has changed, and bitcoin is no longer investing and holding bitcoin has turned into gambling... golly gee whiz.. seems like it is time to lighten some of the load, no?
It is after all the coin that created the market,
Yeah, but if it's time has come, then it's time has come.
It's not like geocities was able to retain its dominance.. better players come in, and better to recognize that early rather than later, no?
the only coin released for pure good intentions to make the world a better place, rather than to enrich the founders like every other shitcoin.
Yeah, but so what? When have you ever heard about any story in which the good guy wins?
Have you heard of beta max versus VHS? the good guy did not win..., same here in bitcoin.. it was too good and it got beat up by the bad guy marketers, and governments...
TLDR>><>> cut your looses!!!!!!! Didn't I already say that?
EDIT: I guess another relevant question is, when dominance hit 32% last cycle, what turned it around?
Pure luck and coincidence turned it around last time. We are not going to have such luck this time. It does not matter about the various institutions buying bitcoin or the impending supercycle... that is no longer a consideration like it was a few weeks ago.. a 30% drop in BTC price is very very very important.. especially when it is coupled by the pumpening of shitcoin nonsenses... AmiNOTrite? Anyhow, for sure we are going to somewhere between 10% and 20% of dominance this time around.. maybe even lower.. I will call proudhon to confirm what his math and science is showing since that is kind of his specialty, especially compared to dumbie HODLers like me..... and furthermore, we all know that it is important to be looking at stupid-ass information like coin market cap in order to make important decisions about finances, understanding whether bitcoin is valuable or not and in essence.. to preserve your capital... IE>>.
I hate to be the one to say it: cut your looses, gooses.!!!!!!!!!
I guess another relevant question is, when dominance hit 32% last cycle, what turned it around?
Mostly a very sharp drop in xerp, then continuing drop in both VBcoin and xerp.
Oh?
It wasn't just luck and coincidences?
Oh... I feel so much moar dumber for not following shitcoins moar closily.
Poll
