Bitcoin dominance threatening the existence of most cryptocurrencies

[Jamesp2k]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

[KingScorpio]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

bitcoin dominance is a made up illusion, and selffullfilling prophecy,

coinmarketcap simply lists only an environment that they like to have. they dont even list all cryptocurrencies.

there i heard that here is a trend towards creation of POS indexes that simply dont even list bitcoin,

that define a pos token market as an alternative to a compounded pos and pow token market,

with this in mind bitcoin might completely lose its most precious asset, troll style attention.

[BrewMaster]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it.

WHAT? almost all the newbies are looking at what coinmarketcap calls "bitcoin dominance" and it is completely meaningless because it does NOT represent bitcoin's dominance. it is only representing bitcoin's market cap (a false characteristic imported from stocks market) with the total market cap of 1500-1600 altcoins.

From all indication, it could hit above 50%, even 60%.

no bitcoin dominance will remain near 100% as it has always been there and will be for the foreseeable future. but the bitcoin market  cap divided by the total market cap will continue to go down as new shitcoins with huge supplies are released.

[hitrawal91]

Yes i could understand what you are trying to say, but i think this step is really nice and must because the dominance of bitcoin will also bring growth and stability in Cyptocurrency market and by this way only altcoins and other cryptocurrencies which are really having zero value in their projects will be exiting from the markets and not the high reputed ones and because of this I really believe that by this dominance the number of scams will be decrease to zero soon.

[o_e_l_e_o]

Bitcoin dominance threatening the existence of most cryptocurrencies

Not really. The fact that most cryptocurrencies are trash or scams is what is threatening their existence. Most altcoins don't deserve to have a market cap of $1000, let alone millions of dollars. BCH is a rip-off scam, $12 billion market cap. EOS is centralized shit, $6 billion market cap. TRON is plagiarized, $2 billion market cap.

The sooner these coins stop existing, the better.

[Gotumoot]

Yes i could understand what you are trying to say, but i think this step is really nice and must because the dominance of bitcoin will also bring growth and stability in Cyptocurrency market and by this way only altcoins and other cryptocurrencies which are really having zero value in their projects will be exiting from the markets and not the high reputed ones and because of this I really believe that by this dominance the number of scams will be decrease to zero soon.

Dominance of bitcoin will also help other cryptocurrency, because cryptos are created based on the characteristics of bitcoin, so if bitcoin increase other coins will also increase, and if bitcoin decrease other coins will too. Its just that some cryptos have different outcome because they are not popular just like other bitcoins and other coins.

[franky1]

a few others have hinted it.. but not laid it out as bare as i will

stop giving a crap about market cap
i can make a coin with 21 trillion coins. sell just 1 coin for $5 and instantly have a market cap of $105 trillion
thus making it the top of 'coinmarketcap' and making bitcoin less than 1% in comparison... all for the price of $5

what actually should be done is take some FEATURES that the majority of crypto have. and give them a point system for how important they are.
and then show the points total for each coin.
then this actually might start directing bitcoin devs to see what direction the devs need to go towards to keep people excited by knowing what bitcoin lacks that other coins have..thus identifying what is needed to then earn bitcoin more feature points to stay ontop

[Jamesp2k]

a few others have hinted it.. but not laid it out as bare as i will

stop giving a crap about market cap
i can make a coin with 21 trillion coins. sell just 1 coin for $5 and instantly have a market cap of $105 trillion
thus making it the top of 'coinmarketcap' and making bitcoin less than 1% in comparison... all for the price of $5

what actually should be done is take some FEATURES that the majority of crypto have. and give them a point system for how important they are.
and then show the points total for each coin.
then this actually might start directing bitcoin devs to see what direction the devs need to go towards to keep people excited by knowing what bitcoin lacks that other coins have..thus identifying what is needed to then earn bitcoin more feature points to stay ontop

.

This is a thoughtful information that coinmarketcap lacks. Though there are other sites that provides this sort of system. The only thing is that they are not ranked. E.g coincheckup

[bitcoindigger71]

I don't think the dominance is made up to be honest as I know a lot of people who are into crypto scene and according to them its the whole community's trust over Bitcoin which is being reflected on the market. A healthy competition will always choose a winner and in this case, Bitcoin is clearly the winner among other coins.

[BitCoinGuy10]

The dominance was very much predicted as I think people always trust Bitcoin over other coins. There is a reason why I am saying this as most of the investors of ALTcoins are basically trying to gain some ALTs so that they can later convert it to BTC. So, it proves that most of them care about BTC, which is why the market is being like this.

[pimondcrypto]

Yes definitely Bitcoin has taken the largest portion of the crypto market from the last year. It was able to dominate the crypto market over 50%. But the recent down falls of prices of bitcoin can be threat for it. Most recently it has gone down by 11%.

[cryptoVinc5599]

I think it is not true. Bitcoin is the king of the crypto market which is true but there are son many potential altcoins and lots of people have invested on building the altcoins. So, in future the altcoins will be powerful to.

[rileyhill]

I think its true. Bitcoin dominant other crypto currency. Bitcoin always try to develop its sector but other coin cant cope up with it. So bitcoin lead this market.

[r32godzilla]

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it.

WHAT? almost all the newbies are looking at what coinmarketcap calls "bitcoin dominance" and it is completely meaningless because it does NOT represent bitcoin's dominance. it is only representing bitcoin's market cap (a false characteristic imported from stocks market) with the total market cap of 1500-1600 altcoins.

From all indication, it could hit above 50%, even 60%.

no bitcoin dominance will remain near 100% as it has always been there and will be for the foreseeable future. but the bitcoin market  cap divided by the total market cap will continue to go down as new shitcoins with huge supplies are released.

Yes you are absolutely right.We should not rely on coinmarketcap for finding bitcoin dominance.That calculation is totally wrong.

[pooya87]

others have already addressed the market cap falsehood but i don't see anyone addressing the title.
bitcoin dominance (its real dominance not the market cap nonsense) is not threatening existence of any other cryptocurrency. if any altcoin is created in the future which is good and has real features to act as a real cryptocurrency not just some pump and dump then it will be used and will become big.
only newbies choose bitcoin because it is on top and it is the only thing they hear about at first. but most people choose bitcoin because it is good, because it is safe and because it is used in the real world and is not just "virtual".

[dothebeats]

IMO, bitcoin doesn't thwart the growth of any other cryptocurrency but rather help it gain some traction even though all eyes are focused on bitcoin. Also, if the coin is worth buying and worth checking out, people will go the extra mile to support whichever crypto they are interested or invested at. Time and time again, people have proven that market capitalization and currency dominance are somewhat unimportant statistics that could go out of the scene. Every coin has their own phases of growth and increased interests, so there's that.

[SlaveKing]

This is a good initiative as it will bring growth and will make the coins more stable. That way the coins which are not making any growth will cease to exist and the potential ones will survive.

[EmmyWork]

Bitcoin is not threatening or dominating over any crypto currency. It is simply us, who do not favour any other coins over it, because the market has not produced a coin that is better than BTC. Therefore it is still the leading in the market and is not the dominating one.

[Jamesp2k]

Bitcoin is not threatening or dominating over any crypto currency. It is simply us, who do not favour any other coins over it, because the market has not produced a coin that is better than BTC. Therefore it is still the leading in the market and is not the dominating one.

Your statement is a paradox. What's the difference between dominating and leading. They are thesame especially when there is a race of which will be the first

[Aura]

Do you remember the BitConnect scam? This useless coin had a market cap of almost 3 billion US dollar. The dominance is calculated by dividing Bitcoin's market cap by the total market cap which includes scam coins like BitConnect. We can conclude by this that the dominance is truly a useless value. Even today, BitConnect's market cap is over 6 million.