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Author Topic: What do you suppose will happen when BTC loses it's dominance?  (Read 778 times)
mc.craigsvictor (OP)
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January 28, 2018, 06:35:19 PM
 #1

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?
Drunkenhorse
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January 28, 2018, 06:38:13 PM
 #2

It will loose its dominance for sure, unless they make a great fork that will change bitcoin into something better. for now it is old and very expensive and yes very slow  Smiley I think another great alternative will come, like it always happens.
meer45
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January 28, 2018, 07:44:44 PM
 #3

I'm thinking that bitcoin losing its dominance will not necessarily be a bad thing, because the blockchain definitely was not capable of handling all the traffic back when the interest in bitcoin was at an all time high. If the interest in bitcoin goes down, the dev team will hopefully have bigger opportunities to improve the infrastructure (implementing lightning network etc.), meaning bitcoin will assume the first place once again. So perhaps bitcoin has to go down even more before it can start going up once again.

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January 28, 2018, 07:49:38 PM
 #4

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?

14% of the bitcoin has been hacked recently in one the trading site. That made price dumped in the market in the meanwhile South Korean Goverment oriented banks invested on the crypto currency trading so completely it balanced the value in the marketplace.
Hopefully we finds the bitcoin value booms again in the market. Many of us know that 80 percent of the coins are holded by the initial time miners and still stays in the same place. None of the coin will not be able to overcross the bitcoin.
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January 28, 2018, 07:56:15 PM
Last edit: April 21, 2021, 08:38:06 PM by Quantumplation
 #5

NOTE: This message was originally not posted by me, but instead by someone who compromised my account.  I have deleted the content.

NOTE: This account was compromised from 2017 to 2021.  I'm in the process of deleting posts not made by me.
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January 28, 2018, 07:57:37 PM
 #6

You mean 'if bitcoin would lose it's dominance' , that sure wont happen. If it were to happen, it would probably still be the same as it was. Of course, more people would use that other currency that would be dominant so the user base would be smaller, and the price would probably go down a bit, but nothing much would change except that.

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Palmaper
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January 28, 2018, 08:11:24 PM
 #7

In fact at this moment bitcoin has lost its dominance. Not in relation to a particular cryptocurrency, but in relation to the altcoins in general, because to be dominant, it should has at least 51% of the marketcap, and now it only has around 33%. And I do not think that this can be reversible at any given time, but it seems that its dominance will tend to be diluted more and more, and possibly this same year we will see it around 15%.

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ManaMan
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January 28, 2018, 08:20:40 PM
 #8

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?

This is because most of cryptos are looked as speculative assets and because price of bitcoin sounds enormous many people are jumping into alts for hope to get higher returns. Which is true some shitcoin can pump like 300% in a day while bitcoin pumpin is slow. Because of higher risk and higher possible returns people are buying alts which is why BTC is losing dominance as we see. But still people have BTC in their portfolios because you are sure it won't disappear over night like some alts may.
CNY dasd
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January 29, 2018, 03:51:24 AM
 #9

I think alternatives will surely appear, but for now, Bitcoin is still in the dominant position. Even if bitcoin loses its dominance, I think its price may fall, but its value is still there, and its technology is still useful to us. By that time bitcoin would be the real bitcoin, bitcoin now The price is the holder of the hype.
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January 29, 2018, 04:21:51 AM
 #10

when merchants started accepting altcoins, bitcoin starts losing its dominance. when the number of merchants went past millions, or when BitPay reported that monthly payment processes they made was $110 million+ per month that is when bitcoin's dominance reaches 50%.

when shitcoins are created by the billions and each of them have million dollar market cap, the share of bitcoin from the total market cap drops to 30% then 10% then 1% and goes to 0 eventually when a million shitcoin with 10^10000 coins supply were created in a year or two and nobody cares about this "dominance".

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senin
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January 29, 2018, 05:37:15 AM
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 #11

If bitcoin loses its dominance, and not only in terms of capitalization, but also in price terms, then in general it will only benefit the entire crypto currency. Now the crypto currency market is very much skewed towards bitcoin. This prevents us from growing normally investment and developing to other altcoys, which can be functionally even better than bitcoin. However, most people hope that investing in bitcoin will bring more profit than in promising altcoyins and invest their money exactly in bitcoin. In connection with this, not the best digital coin develops, but the one that is reversed by the majority at this time as a source of obtaining a large passive profit. All the same, sooner or later it will equalize and investors will be worthy of coins, which are better in terms of their functional qualities.
Vinz1992
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January 29, 2018, 05:45:18 AM
 #12

Hmm... really interesting. Which cryptocurrency then do you think can overtake Bitcoin then?
Pumapipa
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January 29, 2018, 05:55:03 AM
 #13

Market cap isn't accurate ways to measure BTC dominance, especially some altcoin only have high market cap due to hype, marketing or pump by developer/community. Also, BTC can't stay dominant since each cryptocurrency have different features or roles such as smart contract, DAG & zero-proof knowledge.
But, i'm sure Bitcoin technology will continue developed over time and still have potential for mass adoption.
There is really a possiblity that Bitcoin will loose its dominance in the crypto-Arena. I see that most users observations are its expensive transaction fees.. some altcoins have been selected because of this.
in other words, even though bitcoin looses its value, I am pretty sure that many Altcoins will emerge dominant. LIke the ETH for example, it has been there for quite a long time and growth had been steady. IT always ranks as second best.
bitcoin better lower txn fees for more users to patronage btc.
Wind_FURY
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January 29, 2018, 06:04:40 AM
 #14

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?

Nothing. Does market dominance change the reality that Bitcoin is the most secure and the most used censorship resistant, decentralized, peer to peer cryptocurrency out there? No. "Market dominance" is a bad standard of measurement of what the best cryptocurrency is.

Market cap isn't accurate ways to measure BTC dominance, especially some altcoin only have high market cap due to hype, marketing or pump by developer/community. Also, BTC can't stay dominant since each cryptocurrency have different features or roles such as smart contract, DAG & zero-proof knowledge.
But, i'm sure Bitcoin technology will continue developed over time and still have potential for mass adoption.
There is really a possiblity that Bitcoin will loose its dominance in the crypto-Arena. I see that most users observations are its expensive transaction fees..

Not anymore. Someone pulled the plug. Haha.

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January 29, 2018, 06:08:47 AM
 #15

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?
5 percent is impossible. While people need altcoins, bitcoin will exist. Just increases the number of altcoins through ICO and the dominance of altcoins is increasing.

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January 29, 2018, 06:10:15 AM
 #16

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?

That's because altcoins are currently in a bubble, like Ripple, Ethereum, etc. Plus bitcoin has recently just took a dive, so it's really no surprise that the bitcoin dominance is going down at the moment. Same thing happened last year, alts went up a lot, but at the end, bitcoin dominance reverted to around 50% which i think is still quite undervalued.

Bitcoin will continue to be the number 1 cryptocurrency as long as cryptocurrencies are still a thing. The dominance could go down but that just means that there are thousands of altcoins there that are all basically tools for speculation. Bitcoin is really the only useful currency out of the bunch.

When I see bitcoin dominance under 40%, I always buy bitcoin. It means that altcoins are overbought and overvalued, and bitcoin is the exact opposite. It shouldn't slip under 30% any time soon.
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January 29, 2018, 06:17:47 AM
 #17

it is not possible, because the value and price of bitcoin depend on spreading and volume, because even though bitcoin percentage decreases, but bitcoin value in the market remains a lot. except everyone has left bitcoin, then it may drop to 5%. even going to die.
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January 29, 2018, 07:56:02 AM
 #18

I'm quite sure this could happen this year. In my opinion, this doesn't will change our life, and I even think BTC, at the first time will only lose his dominance temporary. This could happen once ETH will switch to casper as example.

It will take time before we see BTC losing its dominance forever, but it's quite sure that will happen, when you see how alts are progressing.


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January 29, 2018, 09:28:49 AM
 #19

Every week BTC seems to lose it's market dominance. Currently it sits at 34.4 percent but what happens when it becomes 5 percent or less? Thoughts?
hi friends, in my opinion this will only happen a few months ahead until the 3rd month. after that i btc piat will start to show the power of price stability. because of every year, Btc will always go down at the beginning of the year. it is because of the number of btc holders who sell it.
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June 06, 2018, 02:26:01 PM
 #20

may also experience a decrease in prices for other Altcoins and reduce the circulation of Fiat for cryptocurrency.

but I am convinced by the conventional trade principles, for example:

"where there is a demand there must be goods"
"when the goods thinned, the higher the price"

Bitcoin is getting depleted in the mine, the more it will rise its price.
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