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Author Topic: BREAKING NEWS: Bitcoin Dominance < 50%  (Read 2212 times)
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May 16, 2017, 09:02:59 AM
Last edit: May 16, 2017, 10:58:22 PM by Minecache
 #1

This is fast breaking news. For the first time ever this morning bitcoin fell below 50% market share of all crypto.

Updates to follow...


Edit to add article:

https://www.forbes.com/sites/laurashin/2017/05/16/for-first-time-bitcoin-accounts-for-less-than-half-of-market-cap-of-all-cryptocurrencies/?s=CuttingEdge

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May 16, 2017, 10:03:00 AM
 #2

Bitcoin's share of the total marketcap (not its dominance) is decreasing because of a very simple math.

market capitalization = supply * price

increase the supply you increase the marketcap.
increase the supply to a ridiculous number like 100 billion you get a ridiculously big marketcap.
now have hundreds of altcoins with ridiculous numbers you get a huge total marketcap in which bitcoin has a tiny share.

Manipulation 101

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May 16, 2017, 10:06:51 AM
 #3

I think its a sign that the market is big enough to accommodate more than 1 crypto, I don't think bitcoins position as number 1 is going to be threatened anytime soon though.
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May 16, 2017, 10:16:42 AM
 #4

I think its a sign that the market is big enough to accommodate more than 1 crypto, I don't think bitcoins position as number 1 is going to be threatened anytime soon though.

this could have been true if the market cap grew with a more logical speed not with the speed that it grew in the past month.

did you even know that the total market cap of altcoins alone has grown about 25,000,000,000 USD in past month alone?! if that is not screaming bubble to you then maybe you don't want to hear it.

and by the way bitcoin is number because all the other altcoins are pretty terrible. if there was any half decent ones they would have already grown big not go into a pumping bubble.

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May 16, 2017, 10:17:44 AM
 #5

Doesn't really mean much, bitcoin is so much further ahead in every other aspect. New altcoins are popping up all the time so it's only natural that bitcoin's dominance will drop below 50%.

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May 16, 2017, 10:18:40 AM
 #6

Good thing that no one cares.  There are hundreds of completely worthless alts with market caps of >$1,000,000 even if their trading volume is just a few thousand.  All it takes is a meaninglessly large supply.

Plus, hate to break it to you but Ripple barely counts.

No single altcoin is even halfway to Bitcoin, and even if they overtook it no one should care.

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May 16, 2017, 10:24:30 AM
 #7

Ripple is going nuts with a market cap of nearly $12 billion right now. I feel really sorry for those that enter the market at such ridiculous levels. But this isn't anything surprising, neither is interesting. The far majority of the coins are in the hands of a few entities that nearly fully control the supply of circulating coins. It basically means that a very low number of coins is available on-exchange, and thus it's easy to pump the price to insanely high levels (as is happening right now). It's purely an artificially created shortage of tradable coins. It has absolutely nothing to do with legit demand that causes the price to go up.
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May 16, 2017, 10:40:51 AM
 #8

I was quite shocked that bitcoin dominance could fall down under 50%, I think it is caused by the alt coin which has a good price in this few weeks and caused more people to invest in alt coin, but in the end all will come back to bitcoin because there are no place that accepted alt coin
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May 16, 2017, 10:51:25 AM
 #9

Fake market caps are really "breaking news". Ripple is not even a crypto-currency like Bitcoin. Maybe you should use this Metric:



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May 16, 2017, 10:53:40 AM
 #10

Ripple market cap should come back to below 2 billion in my opinion , the ripple bubble will burst soon and these money should come back to bitcoin or at least to a less scummy alt   Grin
anyway these days I don't care about the dominance , cause the price of bitcoin is really nice and all of us made profit

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May 16, 2017, 10:57:01 AM
 #11

This is fast breaking news. For the first time ever this morning bitcoin fell below 50% market share of all crypto.

Updates to follow...

Market cap is not the most important metric when measuring adoption but it is an interesting one looks like the migration towards altcoins is well underway although I expect some sort of correction.
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May 16, 2017, 10:57:29 AM
 #12

I think its a sign that the market is big enough to accommodate more than 1 crypto, I don't think bitcoins position as number 1 is going to be threatened anytime soon though.

Bitcoin is not under threat, because when the bubble bursts all the money will return to bitcoin. It is the best, but for development, fluctuations in price are necessary.

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May 16, 2017, 10:58:23 AM
 #13

these guys understand it
Bitcoin's share of the total marketcap (not its dominance) is decreasing because of a very simple math.

market capitalization = supply * price

increase the supply you increase the marketcap.
increase the supply to a ridiculous number like 100 billion you get a ridiculously big marketcap.
now have hundreds of altcoins with ridiculous numbers you get a huge total marketcap in which bitcoin has a tiny share.

Good thing that no one cares.  There are hundreds of completely worthless alts with market caps of >$1,000,000 even if their trading volume is just a few thousand.  All it takes is a meaninglessly large supply.

in short make an alt with 5trillion coins premined.. put ONE.. yes ONE coin on an exchange and sell it to yourself for $1.. yes spend just $1.. and BAM market cap of that coin is $5trillion

market caps are a MEANINGLESS number. its a bubble number backed by nothing.
there is not $5trilling backing the premined coins i used in my example. just like there are not $28+billion in bank accounts backing bitcoins market cap. nor any other altcoin.

the sooner people realise this and stop giving a crap about market cap, the better.


here are things people SHOULD care about:
how many merchants accept coin X
how many employee's are working to do something within a certain coin, (devs, consultants/trainers, convention organisers, device(HWwallet/asic,etc) manufacturing employees, payment processors/exchanges etc, etc)
how many users a coin has

though some of these details are not easy to find. they are a hell of a lot more important stat than market cap

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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May 16, 2017, 11:06:54 AM
 #14

Most people don't look at the total coin supply, and that's exactly what people behind these pumps aim for ~ to make noobs jump over and settle on their ship full of worthless premine coins.

At the end, real world usage is the main point that you should focus on. Ether, XRP, Dash, and the list goes on, they are all being pumped like never before, but they barely enjoy any sort of usage aside from speculation.
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May 16, 2017, 11:13:01 AM
 #15

Most people don't look at the total coin supply, and that's exactly what people behind these pumps aim for ~ to make noobs jump over and settle on their ship full of worthless premine coins.

At the end, real world usage is the main point that you should focus on. Ether, XRP, Dash, and the list goes on, they are all being pumped like never before, but they barely enjoy any sort of usage aside from speculation.

Ether is the currency of choice for ICO's now, its true however that it has little other usage, XRP and Dash I agree aren't very good for anything but speculation.

I think its a sign that the market is big enough to accommodate more than 1 crypto, I don't think bitcoins position as number 1 is going to be threatened anytime soon though.

this could have been true if the market cap grew with a more logical speed not with the speed that it grew in the past month.

did you even know that the total market cap of altcoins alone has grown about 25,000,000,000 USD in past month alone?! if that is not screaming bubble to you then maybe you don't want to hear it.

and by the way bitcoin is number because all the other altcoins are pretty terrible. if there was any half decent ones they would have already grown big not go into a pumping bubble.

You have a good point about the speed but consider that they may have been undervalued before. What I really look at is the fact that a lot of alts are actually quite good, it is true in the past alts were generally trash but they are now pushing the limit of what is possible with blockchain technology. By comparison bitcoin is a very basic crypto and its only enjoying top status because it was the first, had it arrived at the same time as the other alts it would have never made it to the top.

I believe a lot of alts will crash but I think there will be several that will survive and the market definitely can accommodate them now.
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May 16, 2017, 11:27:47 AM
 #16

by looking at the title i thought it was more or less a click-bait article that you might have posted here. turns out, it is indeed a click-bait, but not an article. market caps have proven to be a poor indicator, and once again it proves itself to be the case again. by looking at the total coin supply, ripple has gone over bitcoin's market cap already. it's clearly visible in the screenshot posted by lauda.

look for yourself https://coinmarketcap.com/currencies/ripple/
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May 16, 2017, 11:34:56 AM
 #17

Finally. It is only used as some kind of payment and the fees are outrageous, unless you are transferring large sums of money. And in every Bitcoin promo there is "low fees", "fast transactions". Try sending a transaction with less than 0.0002 fee and see how long it takes...

On the topic: great! I was expecting it to drop like this soon, after seeing it dropping from 80 to 70 and then 65. Other coins are getting adoption, and just have better potential.
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May 16, 2017, 11:46:29 AM
 #18

These aren't sustainable market caps.i don't know what is causing this surge in price on the alts but it won't hold its prices long term.

Let's hope 2017 is better than 2016.
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May 16, 2017, 11:47:50 AM
 #19

-snip- Maybe you should use this Metric: -snip-

How stupid of me, I wasn't even paying attention to the exact number of the circulating coins of Ripple. I kept focusing too much on the +$12 billion market cap, completely overlooking the fact that by value per coin/total supply, Bitcoin in market cap is already surpassed (which obviously is completely meaningless). Gahh... Lips sealed
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May 16, 2017, 11:49:11 AM
 #20

This is fast breaking news. For the first time ever this morning bitcoin fell below 50% market share of all crypto.

Updates to follow...

The crypto market is growing rapidly and this is good news.
Bitcoin get stronger and some og the bigger altcoins grow pretty fast at the same time.
This means that new people enter the crypto world every day.

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