[2017-05-16]Bitcoin Made Way For the Altcoins In the Cryptocurrency Market

[Vialaia]

For the first time in history, "digital gold" occupies less than half of the share of the global cryptocurrency market. Bitcoin market cap is $ 28.8 billion, while the total cost of altcoins has come close to $ 30 billion.

Coinmarketcap altcoins

According to Coinmarketcap, only two months ago the value of the bitcoin dominance index was 80%. Currently, the share of the first digital currency on market is only 49.5%.

Top-10 cryptocurrency market capitalization is as follow:..

Read more https://bit.news/eng/bitcoin-made-way-for-the-altcoins-in-the-cryptocurrency-market/

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[snipie]

At the end i don't think that most of these fake coins will resist. In addition the profit that people made with bitcoin is by far more interesting than any other coin 

[mindrust]

It has been said million times already. Market Cap. is nothing but scam. It proves nothing.

You can come up with a new coin with the supply of 50 billion coins and when you trade one for a dollar, market cap will look like it is 50billion$. This is exactly what is going on with ripple especially. I don't know about the others but i am pretty sure many of them are scam like ripple as well.

Without real demand from real people, market cap. is a worthless parameter.

[Carlton Banks]

Without real demand from real people, market cap. is a worthless parameter.

And what base currency is being used to buy these other cryptocurrencies? It's not supply limited Bitcoins, the demand is being fed by unlimited supply fiat currency (which just so happens to have seen huge supply increases over the last 8 or 9 years)

Just about every aspect of the metrics can be gamed, velocity of money could easily be faked also. At the end of the day, smart people will make the smart choice, and refuse to accept dumb choices. Who will lead, who will follow.

[halych]

Without real demand from real people, market cap. is a worthless parameter.

And what base currency is being used to buy these other cryptocurrencies? It's not supply limited Bitcoins, the demand is being fed by unlimited supply fiat currency (which just so happens to have seen huge supply increases over the last 8 or 9 years)

Just about every aspect of the metrics can be gamed, velocity of money could easily be faked also. At the end of the day, smart people will make the smart choice, and refuse to accept dumb choices. Who will lead, who will follow.

You mean the refusal of the mint currency? People can be and are willing to give up the Fiat. But the government is not ready for this. If this happens, then statehood will disappear.

[Carlton Banks]

halych, if you mean the mintchip currrency proposed by the Canadian central bank, then no, that's not what I'm talking about

[just_Alice]

It has been said million times already. Market Cap. is nothing but scam. It proves nothing.

You can come up with a new coin with the supply of 50 billion coins and when you trade one for a dollar, market cap will look like it is 50billion$. This is exactly what is going on with ripple especially. I don't know about the others but i am pretty sure many of them are scam like ripple as well.

Without real demand from real people, market cap. is a worthless parameter.

I'm not sure, but you may be right in a way on the Market Cap. But what about Trading Volume(24)? Ripple has over $290 million in trading volume today, for example. This is something different from what you've mentioned, right? This means lots of people buy it, and I don't think most of them are from the Ripple team.

[lilit]

It has been said million times already. Market Cap. is nothing but scam. It proves nothing.

You can come up with a new coin with the supply of 50 billion coins and when you trade one for a dollar, market cap will look like it is 50billion$. This is exactly what is going on with ripple especially. I don't know about the others but i am pretty sure many of them are scam like ripple as well.

Without real demand from real people, market cap. is a worthless parameter.

I'm not sure, but you may be right in a way on the Market Cap. But what about Trading Volume(24)? Ripple has over $290 million in trading volume today, for example. This is something different from what you've mentioned, right? This means lots of people buy it, and I don't think most of them are from the Ripple team.

Maybe this is bitcoin and raise altcoin higher. Maybe I'm not a little competent in this matter, but why do it?

[d5000]

I believe most altcoins are currently in a crazy bubble. The 50% wouldn't hold for long if Bitcoin does not crash.

Look at coins like NEM, that are barely used (see here, the largest block of the last ones had 18(!) transactions, one was even empty). The same is true for Litecoin or Stellar. The only ones that I give some chances to hold their value of the top 10 is Ethereum, Ripple and maybe Litecoin if it implements LN fast and gets some real use.

[BitcoinPanther]

It has been said million times already. Market Cap. is nothing but scam. It proves nothing.

You can come up with a new coin with the supply of 50 billion coins and when you trade one for a dollar, market cap will look like it is 50billion$. This is exactly what is going on with ripple especially. I don't know about the others but i am pretty sure many of them are scam like ripple as well.

Without real demand from real people, market cap. is a worthless parameter.

I'm not sure, but you may be right in a way on the Market Cap. But what about Trading Volume(24)? Ripple has over $290 million in trading volume today, for example. This is something different from what you've mentioned, right? This means lots of people buy it, and I don't think most of them are from the Ripple team.

There is a thing called fake trades, where one buy his own coin and sell it to himself to produce volume and make the currency noticeable, making people think that there is a big demand for that coin.  The question is why does this coin keep on producing several thousands of BTC volume and yet never depleted the supply.  One example is XRP.

[just_Alice]

It has been said million times already. Market Cap. is nothing but scam. It proves nothing.

You can come up with a new coin with the supply of 50 billion coins and when you trade one for a dollar, market cap will look like it is 50billion$. This is exactly what is going on with ripple especially. I don't know about the others but i am pretty sure many of them are scam like ripple as well.

Without real demand from real people, market cap. is a worthless parameter.

I'm not sure, but you may be right in a way on the Market Cap. But what about Trading Volume(24)? Ripple has over $290 million in trading volume today, for example. This is something different from what you've mentioned, right? This means lots of people buy it, and I don't think most of them are from the Ripple team.

There is a thing called fake trades, where one buy his own coin and sell it to himself to produce volume and make the currency noticeable, making people think that there is a big demand for that coin.  The question is why does this coin keep on producing several thousands of BTC volume and yet never depleted the supply.  One example is XRP.

This works only with coins with trading volume under $100k. When you have over $200 million trading volume in 24h you will lose so much on fees doing what you described that no one wants that.