BTC dominance decreasing.

[BillyBobZorton]

BTC has never dropped this low. There has also never been an alt rally anywhere near this magnitude and by extension we've yet to see the subsequent bubble pop which may be louder than Krakatoa, but who knows? There may be plenty of legs left.

What people regularly forget is that all this stuff is still being made up as it goes along. Anything could still happen and nothing should be resting on its laurels because there's no shortage of pesky thingies nibbling at them.

"BTC has never dropped this low" while BTC price hits all time highs pretty much daily is pretty funny to hear.

More money is coming into the ecosystem in general, so who cares? As long as the money that is in BTC doesn't go down, we are good.

If other people want to invest USD into other coins, that's their problem. We have a lot of ways to buy alts nowadays that don't require BTC and BTC still keeps going up, and look at the alts, all red when BTC rises.

[8xbt.com]

It is anyway just a small number of people manipulate the market.

[bitcoindusts]

Seem the dominance of Bitcoin never changes, figures from the coinmarketcap should not be used as the basis in dominance of certain coins.  One can be more dominant but due to the limited number of coins, they tend to lose to those who have unlimited supply of coins since coinmarketcap always calculate them in total coins, not the actual adoption and usage of coins.

[llyfee4u]

I doubt that bitcoin dominance will decrease substantially.  The fact remains that alt coins actually do depend on the very existence of bitcoin in order to trade.  Essentially, bitcoin remains the standard bearer in crytocurrency.  Even the fact that bitcoin is already being adopted by not just online merchants but physical actual shops, is a great advantage for bitcoin.  I think bitcoin influence will continue to increase actually.

[charmingfreddie]

I doubt that bitcoin dominance will decrease substantially.  The fact remains that alt coins actually do depend on the very existence of bitcoin in order to trade.  Essentially, bitcoin remains the standard bearer in crytocurrency.  Even the fact that bitcoin is already being adopted by not just online merchants but physical actual shops, is a great advantage for bitcoin.  I think bitcoin influence will continue to increase actually.

Your logic is flawed. Does not take into account increase in fiat/crypto volume. Nor does it take into account that nothing last forever. This is only the beginning of  the decrease in dominance. Bitcoin wont die, the market will just morph over time.

[d5000]

Not only are the alts in a massive bubble, a great deal of the market caps are fake. Ripple and NEM are premined trash; a huge percentage of their supply is intentionally withheld from the market

Agree. That's why their pumps were so crazy, but the dumps will not be different. These 100% premined coins are "designed for volatility".

ETH - Centralized FED 2.0 coin with no real use cases besides companies building up their own projects.

I agree that the level of centralization is higher than in BTC. But regarding interesting use cases, I'm observing Makerdao (If it's not vaporware, it's a bitshares-like "stablecoin" solution but perhaps with less problems). Maybe also Ethereum could serve as a sidechain platform and test this technology for BTC.

ETH scales much worse than Bitcoin, and so do Monero and Zcash. If they do sharding, Bitcoin will do sharding just several times more efficiently.

Good point. So actually every altcoin that is open source software and tests interesting features could help Bitcoin in the future.

[Lauda]

Agree. That's why their pumps were so crazy, but the dumps will not be different. These 100% premined coins are "designed for volatility".

To be perfectly honest, I call them outright scams because that's what they are. They are designed to massively profit the developers or in the case of Ripple, the "owners" of said coins. NEM & XRP are perfect examples of this.

I agree that the level of centralization is higher than in BTC. But regarding interesting use cases, I'm observing Makerdao (If it's not vaporware, it's a bitshares-like "stablecoin" solution but perhaps with less problems). Maybe also Ethereum could serve as a sidechain platform and test this technology for BTC.

Let's be perfectly honest here. ETH & their ICO sub-projects are creating "solutions" for problems which don't exist or they are exaggerating certain problems and attempting to provide fixes for them. Smart contracts and "dapps" are mostly marketing buzzwords. There are only a few *decent* projects out there.

ETH scales much worse than Bitcoin, and so do Monero and Zcash. If they do sharding, Bitcoin will do sharding just several times more efficiently.

Good point. So actually every altcoin that is open source software and tests interesting features could help Bitcoin in the future.

This is what many fail to understand. Any open source research/scaling will benefit Bitcoin greatly, especially if it comes from a coin that scale less efficiently than Bitcoin (which is the case with the coins that I've mentioned).

[XbladeX]

Seem the dominance of Bitcoin never changes, figures from the coinmarketcap should not be used as the basis in dominance of certain coins.  ***

peoople just have to realize that Bitcoin cannot be everything for everyone.
So you can not be paypal2.0 coffee coin and decentralized resistant currency.
Bitcoin can not be POS POI POA coin or DAS.
Crypto is rissing coins with that market. BTC is most stable coin here.
Problems with scale will be solved over time.
Bitcoin miners get now same amount of $$$ like ETH miners because ETH inflation is 3.5x higher.
Miners will have to adopt solution or they will be fired by market and forced to use some solution Segwit or other that we may not know.

Scale weakens of BTC is causing that whole BTC drama and massive move to alts when it will be solved many money will flow back to BTC .
If miner will be so stupid like Jihan they will lose money till they understand via economy.
When ETH (Asic proof coin) will have same market cap as BTC they will act because from mining ETH miners will get 3x more. Time will show but without scaling solution BTC won't progress much price will crash for year two till solution will be adopted.

[FandangledGizmo]

It's a misleading metric, you have to distinguish between projects which are a competitor/threat to BTC and those which actually help BTC by expanding the blockchain ecosystem of which BTC is the dominant money.

If you created BubbaCoin as the currency for Blockchain island in 2011 with only a few inhabitants, BubbaCoin would be extremely dominant in percentage terms, 95%+, but not be worth very much in $ terms compared to the dominant currencies on bigger islands and countries with more vibrant, innovative & bustling economies.

However if the Microsoft/Facebook/Youtube/Google of the future started to be built on blockchain island then BubbaCoin's dominance as a percentage of the whole would decline a lot but the $ value of BubbaCoin would increase loads as it becomes the dominant currency for a much bigger economy and ecosystem.

[XbladeX]

***
This is what many fail to understand. Any open source research/scaling will benefit Bitcoin greatly, especially if it comes from a coin that scale less efficiently than Bitcoin (which is the case with the coins that I've mentioned).

How many great features have BTC adopted ? - Nothing
Scaling solution ? - No solution at all because of... asicboost or miners want more fees.

Alt scaling with wise POS system win/loose coins ? Miner will never give up their mining reward.
Some solution can be adopted but some never will be forced, especially when you have such people like
Jihan Wu in charge of biggest BTC Asic company. Bitmain and Asics are biggest Achilles feet in whole system.

When 40%+ miners are promoting BitcoinUnlimited that is crashing constantly I have no faith in miners.
Those assholes are bunch of idiots. Miners in charge are like 3 year old kinds playing with fire on gas station.

[Lauda]

How many great features have BTC adopted ? - Nothing

How many "great features" have altcoins produced so far? Almost 0. How many of those would require a hard fork or a rewrite of Bitcoin? Almost all of them.

Scaling solution ? - No solution at all because of... asicboost or miners want more fees.

Scaling solutions are almost ready.

Alt scaling with wise POS system win/loose coins ? Miner will never give up their mining reward.

POS is a nonsense system that is not safe.

Jihan Wu in charge of biggest BTC Asic company. Bitmain and Asics are biggest Achilles feet in whole system.

There are "simple" solutions to that:
1) UASF Segwit.
2) PoW change hard fork.
It's just a matter of time before the users, developers and economy run out of patience.

[xuan87]

I personally think that is a good thing, first of all the decreasing dominance means there will be an alt coin that can become bitcoin rival which means we have a backup coin if in case bitcoin got problem, and then people who are investing in alt coin is only invest for short term, so the dominance for alt coin maybe its not correct, if there is no implementation in shop or business then no matter what is the number, alt coin will not dominance

[MingLee]

I personally think that is a good thing, first of all the decreasing dominance means there will be an alt coin that can become bitcoin rival which means we have a backup coin if in case bitcoin got problem, and then people who are investing in alt coin is only invest for short term, so the dominance for alt coin maybe its not correct, if there is no implementation in shop or business then no matter what is the number, alt coin will not dominance

It's not decreasing in a meaningful way though, and that's essentially the giant caveat for this entire thing. The entire market is being pumped to be way too valuable and there isn't enough support for it across the board, so there is nothing propping up the rest of the cryptos that are supposed to be competing. Ethereum is the only decent competitor and even then it has its own issues.
Bitcoin is still very secure in its dominant position and likely will not be dethroned for a while.

[Yuhee]

I personally think that is a good thing, first of all the decreasing dominance means there will be an alt coin that can become bitcoin rival which means we have a backup coin if in case bitcoin got problem, and then people who are investing in alt coin is only invest for short term, so the dominance for alt coin maybe its not correct, if there is no implementation in shop or business then no matter what is the number, alt coin will not dominance

It's not decreasing in a meaningful way though, and that's essentially the giant caveat for this entire thing. The entire market is being pumped to be way too valuable and there isn't enough support for it across the board, so there is nothing propping up the rest of the cryptos that are supposed to be competing. Ethereum is the only decent competitor and even then it has its own issues.
Bitcoin is still very secure in its dominant position and likely will not be dethroned for a while.

Ya i agree and it's not technically decreasing but rather many investors are getting into it that the supply is getting low. I think better comparison is that btc will become uk where a it is higher than price dollar but US still more popular than uk in terms of economy. Ethereum might become the next big thing but it doesnt change the fact that btc is still dominant over other coins.

[Ayiranorea]

I personally think that is a good thing, first of all the decreasing dominance means there will be an alt coin that can become bitcoin rival which means we have a backup coin if in case bitcoin got problem, and then people who are investing in alt coin is only invest for short term, so the dominance for alt coin maybe its not correct, if there is no implementation in shop or business then no matter what is the number, alt coin will not dominance

It's not decreasing in a meaningful way though, and that's essentially the giant caveat for this entire thing. The entire market is being pumped to be way too valuable and there isn't enough support for it across the board, so there is nothing propping up the rest of the cryptos that are supposed to be competing. Ethereum is the only decent competitor and even then it has its own issues.
Bitcoin is still very secure in its dominant position and likely will not be dethroned for a while.

Ya i agree and it's not technically decreasing but rather many investors are getting into it that the supply is getting low. I think better comparison is that btc will become uk where a it is higher than price dollar but US still more popular than uk in terms of economy. Ethereum might become the next big thing but it doesnt change the fact that btc is still dominant over other coins.

Looking at the economy US leads UK in all terms. Same in this perspective if we consider the value difference is huge as quoted. Also the investor base is increasing randomly. Due to this the dominance of bitcoin keeps stable without allowing any other digital currencies to have the potential same as bitcoin. Recent days ethereum was growing good but this won't get the strength to be dominant over bitcoin.

[squatz1]

I personally think that is a good thing, first of all the decreasing dominance means there will be an alt coin that can become bitcoin rival which means we have a backup coin if in case bitcoin got problem, and then people who are investing in alt coin is only invest for short term, so the dominance for alt coin maybe its not correct, if there is no implementation in shop or business then no matter what is the number, alt coin will not dominance

This just isn't simply true in the least, no coin on here is going to come and rival BTC there's just no way that any of these coins are going to gain any respect and trust, outside of the trading world, and be able to turn into a coin that is actually accepted in some places. The only coin that I can think is accepted in some places is going to have to be XMR but that's only a few dice sites that support being anonymous online.

So, it doesn't relly matter if the dominance is decreasing as people have already shown this to not really matter in the least. 1 Most of the market caps which are coming out are insanely fake and the other part of this is that the coins themselves are only being traded, not used like Bitcoin is and will always be used. Now I'm not saying BTC isn't used by traders as well as it is, but it's not to the same percent by usage as compared to alts.

FAKE NEWS

[Sadlife]

There are other aspects other than just marketcap and market dominance.
It is still the most used method as payment is services, it has the highest price in the market, most number of merchants and services, most people use it as a payment method to buy goods and services in the real world.
Seriously how can a crypto currency that has gained $5 billion market cap in just a week decreasing dominance?

[bitbunnny]

You can't judge the Bitcoin dominance just by some selected factors but generate the whole picture. And the thruth is that Bitcoin is still the most accepted and established cryptocurrency that is actualy beeing used as a payment method in real world for real goods and services. And will continue to stay so for a while.

[dinofelis]

There are other aspects other than just marketcap and market dominance.
It is still the most used method as payment is services, it has the highest price in the market, most number of merchants and services, most people use it as a payment method to buy goods and services in the real world.
Seriously how can a crypto currency that has gained $5 billion market cap in just a week decreasing dominance?

Funny how these two statements contradict one another.
It is true that bitcoin, as a payment system, is the most used.  But bitcoin's use as a payment system is just a very minor application of crypto in general.  Crypto is by far a speculative-token dominated world, and the fact that a very small part of it is used to work as a payment system is not what is driving anything.

Now, if market cap is a bad indicator, let us look at something else: volume.  Now, since volume goes with paying fees (on chain, or on exchanges), volume is a much more real aspect of crypto.  After all, crypto is essentially a thing that transacts value (and this includes both the merchant adoption aspect, and the speculative aspect).

Now let us look at volume right now at coinmarketcap:

Bitcoin: 1.11 billion dollars ; whole of crypto: 2.38 billion dollars.

So bitcoin represents 47% of the total volume of value transacted in crypto in the last 24 hours.  In as much as market cap can be "faked" with non-movable coins that cannot cash out, volume on which one has to pay fees is somewhat harder to fake.  Now, the fact that both indicators are grossly in the same ballpark, does re-enforce the idea that at this point, bitcoin is about half of crypto.

[dinofelis]

This just isn't simply true in the least, no coin on here is going to come and rival BTC there's just no way that any of these coins are going to gain any respect and trust, outside of the trading world, and be able to turn into a coin that is actually accepted in some places.

But crypto is essentially non-existing outside of the trading world.  Only in dark markets resides a true application of crypto as a payment system.  Even those entities that accept bitcoin as a payment system, have extremely low volume with it.