Bitcoin has lost 55% of its value

[no0dlepunk]

Bitcoin currently has a marketcap of 135 bn$. But the whole collection of cryptocurrencies has a marketcap of 300 bn$. ( https://cryptocoincharts.info/coins/info )

If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.

This is a 55% drop in value

This is because it is easy to create more cryptocurrencies.

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

You must consider the pairings that the major exchanges has. So let's say a portion of the market cap went to altcoins, this doesn't really matter because they can not cash it out back to fiat unless they move back to BTC, LTC, ETH, or ETC... Also, please be informed that most of the altcoin traders are aiming to multiply their bitcoins that's why they trade. But to be honest, I don't get the whole point of this post. Are you impressing us to not patronize altcoins?

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[TheQuin]

So by your ....whatever, Apple has lost 25% and Google(Alphabet) has lost 20%.
And although the world economy has grown considerably in the last century , it has actuality lost value because we realized the universe is bigger than what we thought in 1900.
And of course Ford has lost 99% percent since it's model T which held 40% market share.

Nicely pointed out, I'm afraid freightjoe and logic don't often coincide. The idea that if there wasn't competition in a new field that all of the value would go into the original doesn't stand scrutiny at all. Competition brings new innovation and adds value to the field as a whole.

Why are you so butthurt in all your topics?
From your knowledge I can almost bet you were in this forum during the 2013 event.
Are you so angry that you didn't buy at 90$ or at 250$ that you want everyone to suffer?

You could be onto something here, otherwise, he could just be a jealous gold bug.

[audaciousbeing]

Bitcoin currently has a marketcap of 135 bn$. But the whole collection of cryptocurrencies has a marketcap of 300 bn$. ( https://cryptocoincharts.info/coins/info )

If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.

This is a 55% drop in value

This is because it is easy to create more cryptocurrencies.

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

I will want to take a contrary opinion on that simply because those other coins that you purported to have robbed bitcoin of such amount of dollars, actually contributed to that portion bitcoin got. For example, several people got to know about bitcoin because of one alt or the other that they want to invest in but could not do so directly so they had to come in through bitcoin.

Also, bitcoin is equally not doing badly considering one coin contributing 45% of the entire coins in the crypto world while the remaining others are  grappling for the balance, I think its something that shows that the position is not being threatened for whatever reason.

[tamawaelah]

yeap, bitcoin lost of its value because so many project that blewup and its based on ethereum, that's why bitcoin got decrease on his value rightnow.
and i think that will be a throwback knife for the bitcoin itselft, because people will leave bitcoin slowly and they are moving on ethereum, that will be a goodnews and badnews for the end. which is future on bitcoin ?

[Mezurit]

Bitcoin currently has a marketcap of 135 bn$. But the whole collection of cryptocurrencies has a marketcap of 300 bn$. ( https://cryptocoincharts.info/coins/info )

If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.

This is a 55% drop in value

This is because it is easy to create more cryptocurrencies.

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

I agree that new cryptocurrencies lead away Bitcoin's investors. It's normal business fluctuation.

[Cazemiro]

I do not agree with your analysis, because the market is so young, and the technology is so revolutionary, you can't compare a 55% drop in value. Of course will be fought between BTC and Altcoins a great battle, the winer just the time will crown.

[A1exander]

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

Value is definitely not created out of thin air, but it does not mean that any new crypto takes all its value from existing cryptos. It may drain value from stocks, gold, USD, or any other form of investment, not from bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

Many of newly generated cryptos are worthless. They can be created by thousands without any noticeable influence on major cryptos.

[mrayazgul]

Bitcoin currently has a marketcap of 135 bn$. But the whole collection of cryptocurrencies has a marketcap of 300 bn$. ( https://cryptocoincharts.info/coins/info )

If no-one had been able to create any other coins, Bitcoin would therefore have had a value of 300bn$, but is only at 135bn$.

This is a 55% drop in value

This is because it is easy to create more cryptocurrencies.

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

I do not agree with your analysis. One of the reason why bitcoin is so popular and why bitcoin is gaining the value is because of altcoins trading. If there were no altcoins then there will be no trading, there will be no competition and therefore Bitcoin will be not as popular as it is now.

Also it does not mean that if there were no altcoins, people will invest all 300Bn$ in bitcoins. They could have kept in cash as well.

[eaLiTy]

Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.

The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue

I am not sure how i am following with your views but there are money that comes out of thin air,see for example the times when there is a fork in a certain coin,you are not investing anything in it in the initial phase ,but you come up with a million dollar currency valuation and then people do invest their money in difference coins,some of the calculation you made are just off.

[junoreactor]

The value of Bitcoin is in its price, simple. Market cap is important to look at but it does not tell the value of a coin, the price does.