this is just sad

[franky1]

market cap is a meaningless number

i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...

there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.

anyone can make the market cap spiral up to trillions just by using small numbers.

Yes....That's an accurate observation.  In cases such as the one you described, the volume of trade needs to be factored into the speculation when considering marketcap. However, wise traders pay attention to volume.  If you look more closely, you will find that some of the alts have huge volumes, and according to the charts, those which do have large volumes of trade are on the top, right?

until you take away the bot trading by 2 people every few seconds
10btc traded by 2 bots can equal thousands of "volume" a day just playing tennis with 10btc back and forth

yep 100k volume does not mean 10,000 separate coins were bought or sold.
it means maybe
10btc played tennis back and forth 1000 times

meaning even volume doesnt represent real transaction desires, or even show how much actual different coins changed hands

[Iranus]

http://coinmarketcap.com/charts/#btc-percentage

Yeah, but it's okay.  Some of the altcoin prices rises are just manipulation (like DASH) and while Ethereum is very popular, it's not going to get close to Bitcoin with its centralised team and the annoyance of many Bitcoiners about shitcoins.  Ethereum's nearing its peak, and I don't care if loads of different altcoins all have tiny market caps, because if 100 coins had 0.5% each of Bitcoin's market cap it would mean nothing to Bitcoin's actual dominance.  The only thing that's scaring people is the possibility of a real competitor like Ethereum, but with a lot less real adoption I don't think it has much further to go.

[jonald_fyookball]

  while Ethereum is very popular, it's not going to get close to Bitcoin 

"Never underestimate your opponent" - Sun Tzu

[Ayers]

I wonder where the altcoin market increase went.

Doesn't look like dash, ethereum nor any alt coin prices shifted.

Is it sustaining a massive sell off of alt coins?

Not for all the scammers sitting on / selling their pre minted crap.

Exacta.

Could be a good time to short dash, eth, whatever alts are selling at high volume.

yeah it went in dash and ethereum, and a bit over many other alt, just look at their market rate, it's way higher now, at least 30% cap of bitcoin now

market cap is a meaningless number

i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...

there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.

anyone can make the market cap spiral up to trillions just by using small numbers.

this is true, but the bitcoin real marketcap, based on how many coins where actually traded, and not on simple math, is still high enough, there is a way to calculate this number maybe?

[ekoice]

Sad for all those people who moved their Bitcoin into Altcoin

how do you figure

 Gut feeling.

http://coinmarketcap.com/charts/#btc-percentage

 How did you figure?

Hahaha there always has to be an opposition or else what's the point of life!? How do you figure that!?


70% is still a vast majority. I'm surprised after all of this time it's still that high. Bitcoins obviously did a lot right but to take back over and be at 85 or 90% of the total cash value within cryptocurrency we'll need this whole blocksize debate to be over and done with.

Yes,70% is still not bad.Bitcoin price is recovering again.Now the scene will change and the alts would start bleeding.Running race will begin from altcoins to Bitcoins.Whoever comes first will get bitcoin below $1000 and the latecomers would have to pay $1200 or $1300.

[Samadur]

I wonder where the altcoin market increase went.

Doesn't look like dash, ethereum nor any alt coin prices shifted.

Is it sustaining a massive sell off of alt coins?

Not for all the scammers sitting on / selling their pre minted crap.

Exacta.

Could be a good time to short dash, eth, whatever alts are selling at high volume.

yeah it went in dash and ethereum, and a bit over many other alt, just look at their market rate, it's way higher now, at least 30% cap of bitcoin now

market cap is a meaningless number

i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...

there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.

anyone can make the market cap spiral up to trillions just by using small numbers.

this is true, but the bitcoin real marketcap, based on how many coins where actually traded, and not on simple math, is still high enough, there is a way to calculate this number maybe?

Bitcoin will raise its value only with the growth of its popularity. If users help raise demand for crypto currency, then bitcoin prices will go up. The main thing is not to panic when racing on stock exchanges prices. It always happens, that's just all react differently to this.

[franky1]

market cap is a meaningless number

i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...

there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.

anyone can make the market cap spiral up to trillions just by using small numbers.

this is true, but the bitcoin real marketcap, based on how many coins where actually traded, and not on simple math, is still high enough, there is a way to calculate this number maybe?

Bitcoin will raise its value only with the growth of its popularity. If users help raise demand for crypto currency, then bitcoin prices will go up. The main thing is not to panic when racing on stock exchanges prices. It always happens, that's just all react differently to this.

saves me rewriting...

The whales are now dumping their coins and it has caused a major fall in the bitcoins price.

Whales??
lol

remember the prices and bitcoins are measured in mBtc (1 thousandth's)


it took only ~99btc (99,392mbtc) to move the price from $931 to $926

for all you fake market cap lovers out there..
under $100k to turn
$15,114,878,100 market cap
down to
$15,033,702,600 market cap

thats a drop of $81,175,500 using under $100k


edit few minutes later


less than $302(324mbtc) to drop the price from $935 to $933⇘
yep $302 to make the markt cap change by $32,470,200.00


then ~$50(54mbtc) to ramp the price from $933 to $935⇗
yep $50 to make the market cap change by 32,470,200.00

... one of the reason on why others tends to panic sell.

Users panic because .. blah blah.. Therefore, only calmness is needed.

its not about panic.. its market manipulation by the markets own programming and order limits.

if the only orders you can make are in $1 increments.. then thats $16m-ish market cap change every time an order line is filled. even if that order line only contains 1mbtc (0.0001)

the fix is to allow more increments
EG not 0.934-0.935
but
0.93401-0.93402-0.93403-0.93404-0.93405
that way the price doesnt move by the whole dollar (volatile with no pressure needed/much coin needed).. but instead in cent amounts more smoothly

[szpalata]

Sad for all those people who moved their Bitcoin into Altcoin

Yeah, they are fucking rueful.

[gkv9]

market cap is a meaningless number

i can create an alt tomorrow with 5trill coins.. get just 1 coin on an exchange and sell it to myself for $1.. and instantly my alt is market capped at $5trillion...

there are NOT $25billion fiat sitting around in bank accounts ear-marked to back the entire cryptocoin market.

anyone can make the market cap spiral up to trillions just by using small numbers.

Yes....That's an accurate observation.  In cases such as the one you described, the volume of trade needs to be factored into the speculation when considering marketcap. However, wise traders pay attention to volume.  If you look more closely, you will find that some of the alts have huge volumes, and according to the charts, those which do have large volumes of trade are on the top, right?

until you take away the bot trading by 2 people every few seconds
10btc traded by 2 bots can equal thousands of "volume" a day just playing tennis with 10btc back and forth

yep 100k volume does not mean 10,000 separate coins were bought or sold.
it means maybe
10btc played tennis back and forth 1000 times

meaning even volume doesnt represent real transaction desires, or even show how much actual different coins changed hands

Is market cap not the Current value of bitcoins in circulation  X  Current price of bitcoins???
Is it just "Volume" that you are saying??? Because if these numbers are baseless, then what is the base that should be used to calculate the actual worth of Bitcoins' cap???

[batang_bitcoin]

  while Ethereum is very popular, it's not going to get close to Bitcoin 

"Never underestimate your opponent" - Sun Tzu

Exactly! However we'll see what will these people that are migrating to ETH will do when they saw that bitcoin is getting back up again with loads and ready to climb up again to the uphill.

Sad for all those people who moved their Bitcoin into Altcoin

Just like what I'm saying, they will regret what they did but as long as btc's price is still low they can still had chance to come back again.

[Hatcher]

BTC losing market cap dominance doesn't mean anything, nor would it if it lost its position as "first" in the market cap listings.

[Astvile]

Yeah this is just sad but all this thing will help bitcoins price to rise up this price drop is just normal and it is a part of coming pump on price

[BitcoinPanther]

market cap is a meaningless number
 

Its not entirely meaningless.  It may not be entirely accurate, buts not stick our heads in the sand.
Every day, ethereum is gaining users, and Bitcoin is losing too many because our network cant scale
and is losing utility.

Meh. Not real users. Rage quitters, traders, hedgers, gamers. They ll come back because of the real scarcity.
The potential higher velocity of ETH is bad for the monetary value. But even this can collapse once ETH scaling is reached as well..

Yeah and they will come back regretting it.
They will have to pay more than what they have sold and could make them rage more. 
There will always be new buyers.
Looking back at the chart. Try to browse up. Look how high all altcoin market cap is. That website sure makes a good lie.

What do you expect, Bitcoin losing its MarketCap automatically altcoin will gain it.  That is just in an equilibrium.  Anyway, I agree that we shouldn't look at the market cap and worries.  Even franky1 said is true, they are all estimation, not an actual fund in its market

[HarryKPeters]

Yeah this is just sad but all this thing will help bitcoins price to rise up this price drop is just normal and it is a part of coming pump on price

Well it was to be expected. Alt's have been years in the market now, grown up and become steady projects.
No project can compete with BTC's adoption however.

But without a solution/consensus nor innovation in the bitcoin protocol this won't be forever.

[jonald_fyookball]

But without a solution/consensus nor innovation in the bitcoin protocol this won't be forever.

...and the longer we wait, the more risk we assume.

[KennyR]

Wait until the panic when BTU is forking, everyone is fleeing BTC and buying ETH, then the real bubble of 2017 starts...
Its not BTC this time, just wait...
BTC loses dominance to ETH.

Make it clear. The ongoing price deflection felt on Bitcoin is just a impact generated due to the forking and the iniation to the splitting of chain. We may experience ETH may grow parallel to bitcoin, but this could never become a dominance of ETH over bitcoin. A panic situation might arise due to the price change.

[jonald_fyookball]

  this could never become a dominance of ETH over bitcoin

...because ______________ ?

[franky1]

Is market cap not the Current value of bitcoins in circulation  X  Current price of bitcoins???
Is it just "Volume" that you are saying??? Because if these numbers are baseless, then what is the base that should be used to calculate the actual worth of Bitcoins' cap???

the answer is simple there is no actual "worth" of bitcoins by measuring the cap vs price...

simply you dont base bitcoins infrastructure and economy on the market cap.
i can make an alt tomorrow with 5trill coins. put just 1 coin on an exchange and sell it to myself for $1.. and suddenly my alt has a $5trillion market cap, all for the cost to myself of 1cent(1% exchange fee of the $1 trade)

you base bitcoins "value" on its UTILITY
but that involves not using stupid todler level maths. but actually look at the bigger things like monetary value of combined asics. the real audited worth of companies actively in bitcoin and other things.
but thats too complex for some people to understand/measure

[dothebeats]

It depends on whether or not you are a speculator. If you are not a speculator, then it really doesn't matter. If you are a speculator, then you really don't matter.  

I'm a relatively small Bitcoin investor but I also actually pay my employees in Bitcoin.  It saves me thousands of dollars a year vs Paypal.  The recent network congestion was a firsthand exposure of the dangers of failing utility as transactions started getting stuck and fees became dangerously uncompetitive.

Hence it really is using utility for employers like you who found a haven in bitcoin for avoiding those fees imposed by Paypal and the likes. Until we can come up with a solid solution as to how we're going to fix this problem, that is the time we can, at the least try to chill out.

Is market cap not the Current value of bitcoins in circulation  X  Current price of bitcoins???
Is it just "Volume" that you are saying??? Because if these numbers are baseless, then what is the base that should be used to calculate the actual worth of Bitcoins' cap???

the answer is simple there is no actual "worth" of bitcoins cap...

simply you dont base bitcoins infrastructure and economy on the market cap.
i can make an alt tomorrow with 5trill coins. put just 1 coin on an exchange and sell it to myself for $1.. and suddenly my alt has a $5trillion market cap, all for the cost to myself of 1cent(1% exchange fee of the $1 trade)

you base bitcoins "value" on its UTILITY
but that involves not using stupid todler level maths. but actually look at the bigger things like monetary value of combined asics. the real audited worth of companies actively in bitcoin and other things.
but thats too complex for some people to understand/measure

I agree. Bitcoin's value is not measured by the dollars / coin, it's actually more than that. What keeps it afloat is the millions of dollars companies spent to mine these coins in the first place.

[sayaya17]

Basically up and down altcoin or familiar bitcoin in trading, that I have seen to this day there is a price increase on a bitcoin. I am sure bitcoin must have gone up again, it is now is a good time to buy (that if you) because if seeing history bitcoin from first launched until now the price rises continue to