WinslowIII
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August 10, 2019, 09:15:25 PM |
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What about bitcoin cash then? I know its an altcoin but do you guys like seeing it drop down as well?
For altcoin holders, this is obviously bad. But what about those of you who hold both btc and altcoins? Let say you own 50/50 in terms of usd value at the moment. Do you like this or not? Obviously the more btc percentage you hold compared to alts, this is good.
Bitcoin cash is a shitcoin led by a shithead, it's days are numbered before the ol' crypto graveyard gobbles it up.
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STT
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August 10, 2019, 11:28:32 PM |
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Actually I dont agree because the laws of capitalism are suspended until we get a resolution on the wider question of sovereign debts. Most obviously situations like Greece where people who are not born yet are born into repaying debt to German banks made under falsified conditions and lots of bad debt like the central Japanese bank having many multiples of the nations GDP owing and unrepayable without confiscation and so on. In a democratic free country, these situations dont float it will change in ways not expected.
Why that matters for crypto is we have a rising tide that lifts all boats, even the bcash or whatever crypto you might despise. Many people despise BTC itself and think it would never survive a 'long winter' of hard currency, monetary contraction and high interest rates. This is maybe beyond the memory of many but only a few decades back it was normal for parts of the economy to die off from an inability to justify vs hard money conditions. We havent had this for a long time so many things thrive that shouldn't, things we like and things that are basically weeds. The nature of capitalism is that even failure is productive for societal benefit overall but we lack this and zombie debt and many things continue until that day arrives, I think it surely will as its basically a force akin to gravity.
From what I remember of alt coins doing so well in 2017, BTC was forcing interest to express elsewhere from fear of the forks and possible double spending, other questions and then fees. I dont find I have any problem with fees lately, not unless its needing immediate clearance. BTC needs to keep improving but its not leaning over like the tower of pisa quite so precariously now, hence its a much harder time for alts.
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MarquiseMuseum
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August 10, 2019, 11:48:45 PM |
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Primary alt boom will be from a cherry picked group of the best of the best. None of the top 5 probably. Imagine a few sub $500 million coins reach parity with BTC's 200b, that's the scenario in play.
Other alts may push but underperform.
Continued BTC dominance is very dystopian and will lead into neo feudalism.
The big alt gainers may be security tokens, migratred fortune 500's where most value is already extant and built up over decades prior in the old world, where the added value extraction comes from blockchain integration. There may also be AI black swan integrations.
ETA 0-24 months for security tokens, more than 24 months for AI tokens.
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sandra_x
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August 10, 2019, 11:52:58 PM |
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It is conceivable that bitcoin dominance goes well beyond 70% which will well drain the altcoin market further down. It is going to get worse if someone more institutional investors join the cryptomarket
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WinslowIII
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August 11, 2019, 01:11:05 AM |
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It is conceivable that bitcoin dominance goes well beyond 70% which will well drain the altcoin market further down. It is going to get worse if someone more institutional investors join the cryptomarket
Bitcoin dominance was about 85%+ from 2013 to early 2017, I expect it to go back to that point. GD near every altcoin is nothing but a bunch of future promise that will never deliver. The only thing I can count on right now is the greatest idea, invention and investment of my and our lifetimes - bitcoin. Let it ride.
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jaocoincrypto18
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August 11, 2019, 03:34:33 AM |
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I think this is the reality of Altcoins market now that after the long bearish in which most of the Altcoin holders are now moving in Bitcoin creating 70% dominance in the market. I used to see that Altcoins are depending on Bitcoin performance but it seems totally different now.
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pooya87
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August 11, 2019, 04:17:41 AM |
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I used to see that Altcoins are depending on Bitcoin performance but it seems totally different now.
altcoins have never moved with bitcoin ever. during 2017 there was a lot of drama about bitcoin while a ton of advertisement for altcoins promising to "replace bitcoin" (the term flippening was coined back then) which is why they got pumped nearly alongside bitcoin. otherwise for as long as i can remember, altcoins went down whenever bitcoin went up.
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Vishnu.Reang (OP)
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August 11, 2019, 05:30:23 AM |
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It is conceivable that bitcoin dominance goes well beyond 70% which will well drain the altcoin market further down. It is going to get worse if someone more institutional investors join the cryptomarket
Bitcoin dominance was about 85%+ from 2013 to early 2017, I expect it to go back to that point. GD near every altcoin is nothing but a bunch of future promise that will never deliver. The only thing I can count on right now is the greatest idea, invention and investment of my and our lifetimes - bitcoin. Let it ride. Well... you have a point there. The dominance dropped due to the ICO boom in 2017. There was a sudden decline from 85.1% in January 2017, to 33.4% by January 2018. That means that in just one year, the altcoin share increased from less than 15% to 67%. Most of this increase can be explained by the ICO boom, but there were a few other reasons as well, such as the forking of BCH and BTG.
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hisuka
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August 11, 2019, 01:21:59 PM |
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I think this is the reality of Altcoins market now that after the long bearish in which most of the Altcoin holders are now moving in Bitcoin creating 70% dominance in the market. I used to see that Altcoins are depending on Bitcoin performance but it seems totally different now.
That’s the altcoins depends on bitcoin movement when bitcoin rise altcoins were down. People have an interests and investing in bitcoin because of the profit they can have. Altcoins since lagging behind from bitcoin and has high dominance from other crypto.
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fabiorem
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August 11, 2019, 03:02:48 PM |
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This is a good time to buy altcoins. They are cheap in comparison to bitcoin.
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stfN2128
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August 11, 2019, 03:06:58 PM |
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It is conceivable that bitcoin dominance goes well beyond 70% which will well drain the altcoin market further down. It is going to get worse if someone more institutional investors join the cryptomarket
Bitcoin dominance was about 85%+ from 2013 to early 2017, I expect it to go back to that point. GD near every altcoin is nothing but a bunch of future promise that will never deliver. The only thing I can count on right now is the greatest idea, invention and investment of my and our lifetimes - bitcoin. Let it ride. Well... you have a point there. The dominance dropped due to the ICO boom in 2017. There was a sudden decline from 85.1% in January 2017, to 33.4% by January 2018. That means that in just one year, the altcoin share increased from less than 15% to 67%. Most of this increase can be explained by the ICO boom, but there were a few other reasons as well, such as the forking of BCH and BTG. you are totally right, and i don't think that we will see such a parabolic altcoin rise again. maybe a few will be pumped, but i don't think that the btc dominance will go much lower as 50% again in the future.
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WinslowIII
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August 12, 2019, 01:23:25 AM |
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This is a good time to buy altcoins. They are cheap in comparison to bitcoin.
Let us know how that worked out for you.
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pooya87
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August 12, 2019, 04:54:55 AM |
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This is a good time to buy altcoins. They are cheap in comparison to bitcoin.
having a lower price is not the same as being cheap. and in this case the altcoin have lower price for good reasons, most of them are useless which means nobody bothers with buying them. and right now that bitcoin is on the rise is the worst time to buy altcoins because we all know whenever bitcoin rises altcoins get dumped.
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barbara44
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August 13, 2019, 03:10:56 PM |
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Seriously does anyone remember when was the last time we peaked like this? Bitcoin price is not that high neither, I mean it went up for sure but than altcoins didn't catch up to it. Normally, when bitcoin price goes up than altcoin prices go down so dominance going up is something expected but than when bitcoin price stops like it is stopping right now all other altcoins start to go back up the price what it used to be, right now its not doing that anymore.
I suppose this is a good thing for altcoins right now because its at the all time low expectancy for most of them, bottomed out and only place for them to go is up at this point. I know we have said that plenty of times in the past month but hopefully this time it turns out to be true, I have a lot of small coins and a bit of eth, I really hope they go up soon.
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Vishnu.Reang (OP)
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August 17, 2019, 01:25:30 PM |
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Seriously does anyone remember when was the last time we peaked like this? Bitcoin price is not that high neither, I mean it went up for sure but than altcoins didn't catch up to it. Normally, when bitcoin price goes up than altcoin prices go down so dominance going up is something expected but than when bitcoin price stops like it is stopping right now all other altcoins start to go back up the price what it used to be, right now its not doing that anymore.
I suppose this is a good thing for altcoins right now because its at the all time low expectancy for most of them, bottomed out and only place for them to go is up at this point. I know we have said that plenty of times in the past month but hopefully this time it turns out to be true, I have a lot of small coins and a bit of eth, I really hope they go up soon.
Well... when I entered the cryptocurrency market for the first time (first quarter of 2017), the Bitcoin dominance was around 87%. Then two things happened that decreased this share. First, there was the ICO craze that took the market share of Bitcoin to around 40% and after that in August there was the forking of Bitcoin Cash which further reduced the share of BTC.
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gentlemand
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August 17, 2019, 02:08:01 PM |
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Seriously does anyone remember when was the last time we peaked like this? Bitcoin price is not that high neither, I mean it went up for sure but than altcoins didn't catch up to it. Normally, when bitcoin price goes up than altcoin prices go down so dominance going up is something expected but than when bitcoin price stops like it is stopping right now all other altcoins start to go back up the price what it used to be, right now its not doing that anymore.
It's only during a handful of very short periods that dominance went below 80% previous to 2017. Before that the idea it could've gotten as low as 30 something percent would've been considered beyond laughable. It's unwise to predict any future behaviour off one insane alt bubble. It's never happened before. It may never happen again. It's going to take a few years before we can tell.
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jerry0
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August 17, 2019, 07:06:48 PM |
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I know there was a way to check the bitcoin dominance per specific day on coinmarketcap. Such as it showed the entire list any day you want. Can someone tell me how to do this on coinmarketcap.com?
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gentlemand
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August 17, 2019, 07:27:35 PM |
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I know there was a way to check the bitcoin dominance per specific day on coinmarketcap. Such as it showed the entire list any day you want. Can someone tell me how to do this on coinmarketcap.com?
https://coinmarketcap.com/charts/It's here on this page. It's the third chart down. You can fiddle with multiple time frames and remove or add specific coins too if you want more detail. There are some pretty bonkers oscillations in there.
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bryant.coleman
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August 18, 2019, 03:35:39 PM |
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Checked the recent data from coinmarketcap, and this is what I got:
Total crypto market cap: $305,934,615,009
Bitcoin: $206,705,878,586 (67.660%) Bitcoin forks: $9,413,859,758 (3.081%) Stablecoins: $4,902,283,349 (1.605%) Altcoins: $84,485,146,893 (27.654%)
The interesting thing to note here is that the market share of the Bitcoin forks (such as Bitcoin Cash and Bitcoin SV) have grown, while that of the altcoins went down by close to 10%. Overall, the market cap of the stable coins have also risen.
This is the latest data, from coinmarketcap: Total crypto market cap: $271,962,154,671 Bitcoin: $186,423,237,080 (68.547%) Bitcoin forks: $8,554,473,176 (3.145%) Stablecoins: $4,856,775,322 (1.786%) Altcoins: $72,127,669,093 (26.521%) This is the change compared to my last post: Bitcoin: +0.887% Bitcoin forks: +0.064% Stablecoins: +0.181% Altcoins: -1.133% The figures just confirm that the alts are still going through a bearish phase, while all the others (BTC, BTC forks, stablecoins.etc) are having growing market shares.
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bryant.coleman
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September 03, 2019, 01:41:55 AM |
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This is the latest data, from coinmarketcap:
Total crypto market cap: $271,962,154,671
Bitcoin: $186,423,237,080 (68.547%) Bitcoin forks: $8,554,473,176 (3.145%) Stablecoins: $4,856,775,322 (1.786%) Altcoins: $72,127,669,093 (26.521%)
This is the change compared to my last post:
Bitcoin: +0.887% Bitcoin forks: +0.064% Stablecoins: +0.181% Altcoins: -1.133%
The figures just confirm that the alts are still going through a bearish phase, while all the others (BTC, BTC forks, stablecoins.etc) are having growing market shares. The good news is that the Bitcoin dominance has now breached the 70% level and it is surging ahead without any major obstacles. At this rate, I would say that 80% by the end of this year is very much of a possibility. Total crypto market cap: $264,545,070,441 Bitcoin: $185,277,223,031 (70.036%) Bitcoin forks: $8,030,578,364 (3.036%) Stablecoins: $4,872,961,419 (1.842%) Altcoins: $66,364,307,627 (25.086%) This is the change compared to my last post: Bitcoin: +1.489% Bitcoin forks: -0.110% Stablecoins: +0.056% Altcoins: -1.435%
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