Bitcoin Dominance and Bitcoin Meme

[sunsilk]

BTC is not far from reaching the max, less than 3.5 million BTC can ever be generated over the current supply.

But the demand will rise.

The more whales keep selling Bitcoin, the better it gets for an ideal spread. I expect to see a gradual rise phase, which should not be far.

Don't forget that we're also near to the next halving by 2020. There will be a gradual rise and I expect that it won't be same like what we've seen last 2017 but what matters most is that it will rise.

It may happen for the end of this year or after the 2020 halving.

And I think I have to share what I've seen lately.

Source: https://www.facebook.com/CryptoCrunchApp/

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[NeuroticR]

BTC is not far from reaching the max, less than 3.5 million BTC can ever be generated over the current supply.

But the demand will rise.

The more whales keep selling Bitcoin, the better it gets for an ideal spread. I expect to see a gradual rise phase, which should not be far.

Don't forget that we're also near to the next halving by 2020. There will be a gradual rise and I expect that it won't be same like what we've seen last 2017 but what matters most is that it will rise.

It may happen for the end of this year or after the 2020 halving.

And I think I have to share what I've seen lately.

Source: https://www.facebook.com/CryptoCrunchApp/

   nice one!

Yeah, I think we can see a gradual rise before the halving, because people will be looking for an early entry point.

[Natalim]

I think it's much better if we go back below 40%, the higher the dominace of BTC the more the entire market looks gloomy.
I'm actually missing the season where altcoins has a say in the market, now even good altcoins looks like a shitty coin because BTC
can anytime strike them down if it has a significant movement.

[Herbert2020]

I think it's much better if we go back below 40%, the higher the dominace of BTC the more the entire market looks gloomy.

since market capitalization is a meaningless characteristic, it doesn't matter if it is 99.999% or if it goes down to 40% or even 0.0001%
in the end that percentage which newbies falsely call  "dominance" is not actually dominance. it only shows there is an inflation going in the altcoin world since it is super easy to create market cap with a click!!!

I'm actually missing the season where altcoins has a say in the market, now even good altcoins looks like a shitty coin because BTC
can anytime strike them down if it has a significant movement.

the altcoins don't look shitty be cause of bitcoin, they look shitty because they ARE shitty.

[Upgrade00]

now even good altcoins looks like a shitty coin because BTC
can anytime strike them down if it has a significant movement.

No one should rate a currency based in its marker cap or percentage it shares in the general pool, ans bitcoin does not drag down all altcoins with it.
Market capitalization are just figures that can be easily blown up by few trades for new currencies.

[meanwords]

I totally agree with Brewmaster. Dominance statistics that came from coinmarketcap is fake. It's full of crappy coins with billions and billions of supplies. We can't deny that no matter what the statistics say, Bitcoin is still dominant in all aspect as altcoins still rely on it.

[Digitalbitcoin]

Back in 2013, Bitcoin used to dominate over 95% of the crypto market capitalization. Bitcoin dominance has been prominent, quite stable and over 80% until mid 2017. Then things were changed and an Altcoin season took over. In the last couple of years, Bitcoin market share went down below 40% for three consecutive times, although it managed to get back up to over 50% again each time. Next couple of years will be very interesting and the trend will tell us whether Altcoins are NPC or not!

However, I have created this post to publicly discuss more on this topic and also to share interesting/funny/creative meme on Bitcoin. Everyone is welcome to participate in this discussion and meme sharing.

#Bitcoin #meme

since you love memes so much i made you one from scratch to describe what you call "dominance" really looks like:


back in 2010 we had bitcoin and we had other altcoins which were trying to DO something and we had occasional shitcoin here and there. what you call "dominance" was the market cap which was 95%.
in 2018 we have bitcoin which has grown a lot but we also have a lot of shitcoins, most of which are a big pile of shit only because they have a huge supply which makes their market cap big. this also decreases the market cap share of bitcoin making the percentage (which you refer to as dominance) smaller. they also are hiding (burying) any good altcoin that may exist under their pump and dump crap!

I agree with Both of Meme. But here we have to understand how things are takings places accordingly. Bitcoin was higher dominance at the initial stage, but as many new tech persons find issues with Bitcoin so they went with another coin offering more better experience while transacting. And her the game begins.

We are seeing BTC have nearly 52 to 55% dominance in the whole crypto market but while taking these figure about cryptomarket we also have to keep watch on marketcap of cryptocurrencies.

[talkbitcoin]

We are seeing BTC have nearly 52 to 55% dominance in the whole crypto market but while taking these figure about cryptomarket we also have to keep watch on marketcap of cryptocurrencies.

the whole point is that you should not look at market cap of cryptocurrencies because it not only means nothing but also it is meaningless when one is higher than another.

for example you can create a new coin by copying the code of some other coin, from bitcoin to any other one. then change their supply to 100 trillion. then after releasing it, you sell 0.01 of your coin on an exchange for $1. now your market cap is 10000 trillion dollars.
do you see how fake it is?

[Digitalbitcoin]

We are seeing BTC have nearly 52 to 55% dominance in the whole crypto market but while taking these figure about cryptomarket we also have to keep watch on marketcap of cryptocurrencies.

the whole point is that you should not look at market cap of cryptocurrencies because it not only means nothing but also it is meaningless when one is higher than another.

for example you can create a new coin by copying the code of some other coin, from bitcoin to any other one. then change their supply to 100 trillion. then after releasing it, you sell 0.01 of your coin on an exchange for $1. now your market cap is 10000 trillion dollars.
do you see how fake it is?

Yes. Exactly. I think beyond this as its still in testing phase, yet this technology has the maximum possibility to change all economy and financial structure which is completely different from traditional ways.

But is all in just in experiment mode what about actual statistics of debt of the world. It never can be calculated if cryptocurrencies introduced as per my acknowledgment. Still, it will be a more transparent and secure thing that can be used for making trades for the upcoming future of business.

[goaldigger]

Yes. We stand together.

The meme is hilarious but true. Bitcoin holders will not be broken apart and our trust is never been lessen even the value is down. The big bear really represent how hard to deal with them. Even altcoin season is up today, bitcoin's popularity never lessen and i guess people are likely to have bitcoin as an investment after all.

[izanagi narukami]

We all know that everything start from bitcoin so the enthusiast must be concentrate from it.
I won't be surprise at all when by time, the trend continue to downtrending when there is getting no demand on it

So should we surrender ? As long as you believe, just keep hold it !

[felicita]

hehe i really love the selfmade shit meme 
For me all altcoins are unless since Bitcoin brings all what we need like this reasons :
- Exclusion of third parties
- Money(COINS) without debt money creation
- People without a bank account can participate in the monetary system
- Worldwide transactions ( with speed ) and lightning network
- Protection against excessive money creation (21 million BTC)
- Bitcoin brings a discourse about the monetary system with it

so no need for alts....


regards

[NeuroticR]

hehe i really love the selfmade shit meme 
For me all altcoins are unless since Bitcoin brings all what we need like this reasons :
- Exclusion of third parties
- Money(COINS) without debt money creation
- People without a bank account can participate in the monetary system
- Worldwide transactions ( with speed ) and lightning network
- Protection against excessive money creation (21 million BTC)
- Bitcoin brings a discourse about the monetary system with it

so no need for alts....


regards

I completely agree with you except the idea that we don't need alts at all. I believe that we also need alts as much as we need Bitcoin. Because to have a kingdom where Bitcoin is the king, it needs soldiers to face the front-line in the battlefield where many of them (alts) die (sadly).
It's a meme-ish comment, lol, but makes sense, doesn't it?

Bitcoin needs competition and some support in this early stage to maximize overall crypto market capitalization, to increase transaction and fluidity. If you think about fiat that we use to buy all other products or do business with, you can also consider Bitcoin like a fiat of the crypto market where it is used to buy other products, which are Alts in this case. These Alts are in fact helping Bitcoin by not only making it a gold standard but also increasing its acceptance, trust and usage in the market, at least to some extent. However, this system and influence of Alts also have certain major negative impacts on crypto and Bitcoin.

In an ideal crypto world where most people use crypto in daily life like we use fiat now, other Alts are unnecessary, but we have not reached there yet.

[lyks15]

This is funny but true. This is the reality almost 80% that they said or assume that they are bitcoiner but the truth is they are only categorized as a bitcoin meme that never know what are doing. Like in accident they are only perform hit and run. When they earn and got the return of investment they will leave the industry.

[Kelvinid]

This is funny but true. This is the reality almost 80% that they said or assume that they are bitcoiner but the truth is they are only categorized as a bitcoin meme that never know what are doing. Like in accident they are only perform hit and run. When they earn and got the return of investment they will leave the industry.

Really sad to know he reality but that's it, we are mostly a meme.
I don't know if those people realize of what they doing and to know exactly that they are in the wrong path. They are wise and they'll never want to loss that causes them to leave when they gain money in crypto. They are the so-called selfish individuals, they are only having concerns with their self but not looking for what possibly be happen with the market.

[mohammedmattar]

~
While I agree with you, I wouldn't call it meaningless though. I think people just take the marketcap statistic a lot less seriously, as it's definitely quite inaccurate. I think it's a decent statistic to use when ranking probably only the top 20 coins/tokens when determining which coins/tokens are more "valuable" in terms of market value.

but it IS meaningless. specially when you are talking about value of a cryptocurrency and want to use it for ranking. value of a coin should not be determined by how much supply it has, no matter how high or low it is in some arbitrary ranking. what you should use is their utilities and a lot of other factors such as decentralization, number of nodes, number of transactions, number of merchants,...

and while we are at it we shouldn't even rank coins that are not even similar. we should categorize them and then rank them. for example centralized coins should not be in the same ranking as decentralized coins. or tokens (like ETH, Waves,...) should not be in the same category as currencies (bitcoin, litecoin, IOTA,...)

Good addition
But may be difficult to do
CMC provides simplified statistics based on one factor only, which is the number of the marketcap for each currency
The factors you mentioned are more accurate but they need to be effortlessly put into the equation.

[aioc]

since you love memes so much i made you one from scratch to describe what you call "dominance" really looks like:



back in 2010 we had bitcoin and we had other altcoins which were trying to DO something and we had occasional shitcoin here and there. what you call "dominance" was the market cap which was 95%.
in 2018 we have bitcoin which has grown a lot but we also have a lot of shitcoins, most of which are a big pile of shit only because they have a huge supply which makes their market cap big. this also decreases the market cap share of bitcoin making the percentage (which you refer to as dominance) smaller. they also are hiding (burying) any good altcoin that may exist under their pump and dump crap!

I think this is the best comparison and a true picture of Bitcoin's dominance over the altcoins over the years, over the years Bitcoin just gets better and better and about altcoins, they just come and go and never to return, these are ICO's based coin.

[Ipwich]

here's a pretty interesting forecast on this matter.

Bitcoin Price Prediction 2019 - BTC Price to Touch $23500 in 2019
https://coinswitch.co/news/bitcoin-price-prediction-2019-btc-price-to-touch-23500-in-2019

We will have a new ATH then this year.
Well, I don't underestimate the possibility of it happening because when bitcoin reached to $20,000, no one expect it would be that fast.
The history of bitcoin based on trend says, it's possible to achieve a good price even at a short period.

[shesheboy]

We all know that everything start from bitcoin so the enthusiast must be concentrate from it.
I won't be surprise at all when by time, the trend continue to downtrending when there is getting no demand on it

So should we surrender ? As long as you believe, just keep hold it !

its already given that everyone is concentrating on bitcoin but why you are saying that there is a possibility of the trend to go down  ? and whats worst is that that demand for bitcoin will become zero ? how come when bitcoin is too useful ? no person on this earth will resist to use and forgot bitcoin  .  they can only forget other cryptos but bitcoin  ?  nah i dont think so   .    bitcoin is still dominating on the current year ( 2019 )  and the meme's are also growing along with it  but that's not bad    .   meme's can help bitcoin to become more dominant   .

[Irvinn]

We see that the downward trend in the bitcoin capitalization level continues. Therefore, interesting events await us ahead. It is possible that this may result in Bitcoin losing its price dominance over other types of cryptocurrencies. This is also indicated by the fact that even now many altcoins surpass bitcoin in many of their functional indicators. What will happen after that - a cryptocurrency market free from price domination or something else, it seems, we will soon see.