this is just sad

[jonald_fyookball]

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

[xhomerx10]

Sad for all those people who moved their Bitcoin into Altcoin

[jonald_fyookball]

Sad for all those people who moved their Bitcoin into Altcoin

how do you figure

[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.

[hv_]

Sad for all those people who moved their Bitcoin into Altcoin

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

[Yakamoto]

>Implying that market cap is anything other than a number based on the current trading price for a crypto

While market cap is a decent indicator of the total value of the system, most of the time it is completely meaningless to compare what the market caps of things are. Bitcoin still has more than 3x the market cap of the next largest crypto, and that has been experiencing some impressive growth recently.

The second and third top market-cap cryptos make up only 1/3 of the biggest, and the fourth through nearly the rest of them makes up another third. The top 2 and 3 are concerning, but you also look at the rest of the market and see a ton of shitcoins that take up space and money.

Realistically, Bitcoin probably makes up more like 75% of all cryptos that are actually used.

[Hydrogen]

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.

[xhomerx10]

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?

[cjmoles]

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?

[jonald_fyookball]

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.

[cpfreeplz]

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.

[hv_]

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..

[d5000]

Are Bitcoiners not for "free markets" and "competition"?

Well, so don't be hypocrite. You will only get a monopoly when you exercise totalitarian coercion.

[cjmoles]

Are Bitcoiners not for "free markets" and "competition"?

Well, so don't be hypocrite. You will only get a monopoly when you exercise totalitarian coercion.

Yep, competition inspires innovation and that's what we're witnessing in the altcoin community.  Competition is good for the crypocurrency space.  It's specifically easier for the altcoins to be innovative than it is for bitcoin because of the marketcaps.  It's riskier to get creative with bitcoin than it is with the altcoins because there is more to lose in the bitcoin network.  The community needs to start taking notice of some of the solutions being implemented in the altcoins instead of being stubborn. The altcoins are an asset and the bitcoin community can take advantage of their creative solutions.

[jonald_fyookball]

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..

I hope you're right, but no harm in staying vigilant here --- this is no time to rest on our laurels.

[Reid]

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.

[odolvlobo]

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.  

[Hydrogen]

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.

I wonder if dash and ethereum are truly gaining users.

Or early miners of alts are selling coins to themselves to artificially pump the price of eth/dsh.

So they can unload on some poor saps later & profit. Pump/Dump.

If the above is true, the price of dsh/eth should decline once those artificially pumping the price are gone.

[jonald_fyookball]

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.

[gadsden76]

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.