BREAKING NEWS: Bitcoin Dominance < 50%

[mindrust]

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.

It's a sign of nothing. With everyday, another new altcoin pops up. Because it's new, there will always be some people who'll see it as the next big thing and pump it for a while.

Bitcoin's market dominance may even go below %10 in a few years but it doesn't mean anything. No other coin will have the same volume as bitcoin, no other coin have the same acceptance by the business owners, nobody hodl shitcoins in the long term. Those are the things which matter, not market dominance.

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[buenav]

-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...

Yeah surely even ripple supporters should realize that the current price can't be sustained, ripple real usage isn't even 1% that of bitcoin yet technically its market cap is bigger.

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.

It's a sign of nothing. With everyday, another new altcoin pops up. Because it's new, there will always be some people who'll see it as the next big thing and pump it for a while.

Bitcoin's market dominance may even go below %10 in a few years but it doesn't mean anything. No other coin will have the same volume as bitcoin, no other coin have the same acceptance by the business owners, nobody hodl shitcoins in the long term. Those are the things which matter, not market dominance.

Some coins are as you say shitcoins but a lot of alts have real use and real relevance they are the ones who will keep value long term. There is nothing that bitcoin does that can't be replicated by other coins and the only reason its got top spot is because it was the first to come out.

[alyssa85]

Markep cap doesn't mean anything.

What matters is the number of transactions in the lst 24 hours. As long as bitcoin is #1 it's status is secure. The coins like Ripple which are being pumped at the moment, will dump, because no-one actually uses ripple.

At the moment the only coin that might catch BTC is ETH because it's doing about 120,000 transactions a day and the amount is continually rising, which means people are using it.

[youdamushi]

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

Not COMPLETELY true because the price of altcoin could be VERY LOW.
Of course there are lots of alts.
But what's interesting is that they have not a void price at all.

[zend7]

Markep cap doesn't mean anything.

What matters is the number of transactions in the lst 24 hours. As long as bitcoin is #1 it's status is secure. The coins like Ripple which are being pumped at the moment, will dump, because no-one actually uses ripple.

At the moment the only coin that might catch BTC is ETH because it's doing about 120,000 transactions a day and the amount is continually rising, which means people are using it.

That is until ETH will go to proof of stake and not proof of work a few months later this year. Ethereum is being hold mostly by the developers themselves and very few of Ethereum is actually in home miners or people who have bought it and are holding it because they believe in it. I think Bitcoin cannot be surpassed by an altcoin, because I think no other person is as genius as Satoshi Nakamoto.

[mindrust]

Some coins are as you say shitcoins but a lot of alts have real use and real relevance they are the ones who will keep value long term. There is nothing that bitcoin does that can't be replicated by other coins and the only reason its got top spot is because it was the first to come out.

"There is nothing that bitcoin does that can't be replicated"

That's all they ever can do. That's why bitcoin will stay on top because bitcoin is the original idea. Those shitcoins are only bad copies of bitcoin. People invest in he original one because the others were too stupid to invent a cryptocurrency before bitcoin, how the hell they can be better than bitcoin now?

Bitcoin will stay as #1 because it is the first and the original.

But don't lose hopes, there will always be a second place available for the others. Eth owns that spot for now, as LTC owned it before and even Ripple did it too if i'm not wrong. Holy crap, ripple passed eth? When did it happen? That worthless piece of shit coin passed another worthless p.o.s. proves that market cap is just scam.

[btcforall777]

Yeah and to buy those altcoins you have to buy bitcoin first. So it is actually helping bitcoin.

[orpel]

Basically most of the alt-coins buyers are going through buying bitcoin first so I think the dominance of Bitcoin will happen long time from now.

[pearlmen]

Market capitalisation to me is not really a determining factor. There are several coins in the crypto space all fighting for relevance but comparing them to bitcoin because there was just a day dip for the bitcoin does not mean they are taking over couple with the difficulty being experienced in mining bitcoin these days compared to other alt happening around. All these put together to me does not displace bitcoin.

[iram3130]

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

Updates to follow...

Rather than thinking about market cap of Bitcoin and other cryptocurrencies, we should think about popularizing Bitcoin physically. How we can introduce it to other people and how we can make merchants accept Bitcoin as a payment gateway.
These are the things people should think about.

[25hashcoin]

There's nothing "breaking" about this. In fact, it's meaningless. You annoying trolls just arbitrarily picked a number to FUD about. Idiots.

[SaShiRaJaVu]

Yeah and to buy those altcoins you have to buy bitcoin first. So it is actually helping bitcoin.

That is not entirely true you could purchase altcoins using fiat too and all the major exchanges do accept dollars. One coin that has a major volume is Ripple and it is not a big issue as the alt coin scene has more than 260 coins and you really cannot compare one coin against the rest and say the dominance is less.

[pressureonme]

Do not follow ripple scam.

Follow security instructions.

[cryp24x]

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%.

I guess it is New altcoins is pumping and with large total supply, it is natural that bitcoin dominance will look like it drops below 50% but the truth is, the computation or calculation is flawed  .  How can you compare a billion coins to a 21 million coins and claim that 21 million coin is dropping in dominance when the truth this billion coins are just being pumped hard?

[GetClams.com]

Yeah and to buy those altcoins you have to buy bitcoin first. So it is actually helping bitcoin.

That is not entirely true you could purchase altcoins using fiat too and all the major exchanges do accept dollars. One coin that has a major volume is Ripple and it is not a big issue as the alt coin scene has more than 260 coins and you really cannot compare one coin against the rest and say the dominance is less.

An infinitesimal number of coins are bought using fiat and while that is slowly changing, as of today it thats the way it is. If fiat becomes the dominant way to purchase altcoins btc price would drop.

[richardsNY]

Completely nonsense news. How on earth can you add any value to the fake market caps of altcoins with billions and billions in premine. As others explained -- even if the total coin supply is 10,000 billion, if you buy 1 coin at $1 -- the coin in question will have a $10,000 billion market cap. It's a cheap form of manipulation to make newbies fall for it.

[XbladeX]

Completely nonsense news. ***

To be honest another metric like trading volume is dropping  below 50% from time to time.

[Enjorlas]

It's hilarious seeing all these triggered Bitcoiners.

[Yakamoto]

It's hilarious seeing all these triggered Bitcoiners.

M8 I have bad news for you, Ripple literally doesn't matter when it comes to being $12B and having a less than 50% total of the market cap for all cryptos doesn't really mean anything either, especially since it's basically a fiat currency taking on a digital form. With a total supply of 38B (that I believe is growing) and being valued at ~$0.38, it's nothing like a "normal" crypto and simply an extension of fiat.

Will it grow in value? Probably, but right now it doesn't really mean all that much.

[freedomno1]

I forgot to mention the obvious last time real reason we are seeing the shift to alts.

Bitcoin is too slow for transactions to different users particularly newbies who have no clue why the transaction is so slow and too costly in comparison to altcoins this is causing people who want faster usage and lower cost to move to altcoins.

Should be seen as natural as Bitcoin is moving to a premium coin while the rest are transitioning into the standard coins since we are stuck on a fork path the pattern may reverse somewhat if we get some consensus.

Sucks for the newbies who use faucets to learn about bitcoin, the transaction size and fees basically mean a faucet is a negative return which leads to another pattern in that altcoin faucets become popular and their usage increases instead.

https://bitcoinfees.21.co/
For the median transaction size of 226 bytes, this results in a fee of 81,360 satoshis. = $2 CAD is it really not obvious why we see this trend a toonie to spend a nickel ^^ no spam indeed.