Is bitcoins dominance coming to an end?

[kentrolla]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

[nelson4lov]

The only time that bitcoin was close to losing the top spot was way back in 2017-2018 when talks about Ethereum flippenning were brewing. XRP did come close during that time as well but we all know how it ended. Well, ETH 2.0 will be launching next month or so and with the hype it's got, It could garner some dominance from Bitcoin upon launch. In spite of this, I still believe that Bitcoin would maintain its dominance. It's still the most widely used cryptocurrency even though Ethereum is spearheading the DeFi movement. We'd just have to wait and see how everything plays out.

[20kevin20]

Most so-called "coins" with their market caps don't actually mean anything and shouldn't even count at all. In fact, if you check out multiple coin price listing websites (CoinMarketCap, CoinGeek etc), you'd find out there are some cryptocurencies one website may consider deserves to be on the list while another website doesn't.

Bitcoin dominance should be way higher than it currently is. It'll always be better than other alts. Easiest thing to find this out is by thinking about your own crypto movements. Do you ever only move alts? Because even if I hold some alts myself, I almost always have to use BTC in most of my trades.

Ethereum is up there because it carries the largest shitcoin bag on its back. Ripple is up there because of the centralized distribution and inflation of their coins. In the end, Bitcoin will still be needed in +80% of the cases.

[Bttzed03]

"2018 - bitcoin's dominance is going to end
2019 - same shit
2020 - same shit"

^ Statement by most altcoin maximalist. Yet, bitcoin's dominance remains.

I also thought an altcoin would topple bitcoin before but I've already come to terms that it's not going to happen. "Challengers" can have all their faster/cheaper features but they can't match Bitcoin's superior security.


Now let's tackle the opinion of the Blockchair's executive:

privacy is not the top cryptocurrency’s strongest suit as its network allows blockchain analysis firms to track user activity. Users who wish to keep their transactions private can turn to a number of altcoins including Monero, Dash and Zcash.

Users can still maintain their privacy when sending btc as long as they don't use centralized platforms though.

Bitcoin’s scalability is another nail in the coffin. He says the Lightning Network, which is a second-layer solution designed to make it faster and more cost-effective to send BTC, is fundamentally flawed.

This is an old issue. He failed to address that people who support bitcoin knew this long ago but they are willing to give up the convenience of scalability in exchange of network decentralization and security.

He points to Ethereum, with its proof-of-stake (PoS) protocol, as one coin that could topple BTC.

Ethereum's POS looks good on paper when it comes to scalability but this has yet to be proven. There are plenty of existing blockchains who can scale better than Bitcoin but none of them were able to dethrone btc.

The upcoming upgrades, Taproot and Schnorr signature, are also said to increase privacy and scalability. Perhaps he failed to read on that as well.

[mk4]

Ehh.

Point #1. Bitcoin's loss in market dominance are mostly temporary. Historically occurs on altcoin bull markets(which we know is temporary).

Point #2. The marketcap statistic when it comes to cryptocurrencies are mostly inaccurate due to most altcoins' supply being controlled by their development teams (a.k.a. companies).

[Kez1817]

It is just the beginning and not the end of bitcoin dominance. If you are going to compare it to some altcoins like ethereum it's far from the truth. Based on the value and market demand still nothing can compare to bitcoin. So,bitcoin is still at the  top and the king of all crypto.

[ChiBitCTy]

No it's dominance is not coming to and end and I don't see that happening anytime soon. There still aren't enough people interested in any altcoins close to they are as with Bitcoin.  Most other coins offer something that is simply not needed or doesn't compete with bitcoin.

[DoubleEdgeEX]

The reports of my death are greatly exaggerated - quote Bitcoin 2009, 2010, ... 2020. As for finance space, chances are good it will not be taken over by any other coin in decades. BTC has proven to be a serious competitor for a place in a big companies portfolio and has the tokenonmics with the scarcity as a bonus as well. Ethereum could overcome it when it comes to blockchain technology overall, but the use cases are different. It´s like comparing apples with pears almost...

[Sanugarid]

coming to an end? did you see the market dominance of bitcoin? Now tell me which coin will likely to replace it, ethereum? uhmm maybe after 10 years. You cannot just conclude things the way they are now, you may be asking why some altcoins are pumping yet bitcoin stays at its price, worth mentioning is the Chainlink, this coin has been performing great for a year gaining a lot of strength in the market, I even saw this coin being discussed at some group whether it is worth to invest or not. Another one is Tezos, this coin is bringing up games it went ath last February, then declined in march (probably because of the pandemic) then rising late this month. These are just two, there several coins that is rising these days but that does not mean that bitcoin is going to be replaced. 60% market dominance? this coin gotta be sitting for a long long time.

[enhu]

They tend to say some investors prefer altcoins because they are bagging altcoins that have the potentials to rise up. during 2017 bullrun, there are tons of altcoins who also blooms out which prices unexpected bloated, the holders earned hundred to millions. There is no reason for them to just keep only BTC on their portfolio, there are more in altcoins than BTC alone.  But I still think BTC dominance will come to an end. Its the base currency in crypto, its not going to end.

[slapper]

Bitcoin dominance will never ever come to the end. It was, is, and will forever be the number one asset on the Cyber-world. People have been told that gold will soon vanish and evaporate for many years and its still the number one asset on this planet. Bitcoin has spent more than 10 years to prove that it deserves the number one spot and most of the people around here believe in bitcoin's crown. Its advantages and benefits are undeniable Soon it will provide its technologies to the whole world. Our database and our identities are in danger and they have been plunked by many companies and even our government.

In the next few years, we will see the price of bitcoin hit the moon. The blockchain technology has never decreased its heat for many years. Numerous coder are joining together to create a better version of Bitcoin

[wxa7115]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

I read the article, if we can even call it that, and I was hoping to see some well put argument about why that was the case and in fact there was nothing, there were only two points discussed.

Bitcoin is not anonymous. This is the first point and this is something we have known from the beginning but that has never been the point, then Zhavoronkov argues that privacy coins are better for this, who would have thought? However privacy coins despite their increased privacy have many other problems including scalability issues larger than bitcoin and the fact that most exchanges will not deal with them making impossible for those coins to ever become as popular as bitcoin, besides it is as if Zhavoronkov has never heard of mixers.

Scalability. This is the second and final point he brings, he argues the LN is a failure and argues that ethereum is better because of POS while we know POW is more secure and as such Bitcoin can perform in a better way its function of being a store of value.

[mezzaluna]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

I personally doubt that that would happen even after years. Bitcoins dominance will only set the value of the Cryptocurrency Industry higher and that would also help other Cryptocurrency to increase their value. It would really be nice if Bitcoins price skyrocket again after some time since we will also be seeing some Alternate Cryptocurrencies with lots of potential that have usable platforms.

[teosanru]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

Bitcoin dominance is still 62% as per ConimarketCap. I don't know why these writers can't get a new topic. It's the same old shit that flies every year about bitcoin. I remember last time when people said bitcoin's dominance is over. Market went into a very bearish mode where all alts turned out be worthless and Bitcoin had risen once again from that. I have seen times when this dominance went down till 40% and bitcoin has still come back to this 60% mark. So reason why these writers are sending same repackaged shits every year is really unknown.

[franky1]

many see the shift from 'bitcoin the digital currency for the unbanked' to 'bitcoin the gold resort for the banks'
by banks i mean the exchanges that do offchain reserve swaps behind their servers.

user for instance trade these 'gold stocks' but in the end they dont exit the exchanges hoarding their 'gold' people either exit back to fiat with profit. or will atomic swap it for cheaper tx fee coins

many are talking about LTC as the silver for daily use currency. and BTC as the retirement investment
swapping them back and forth in exchanges.

[franky1]

Bitcoin dominance is still 62% as per ConimarketCap.

coinmarketcap is not even a metric for dominance
anyone can make an altcoin with 5 trillion coins circulation. and sell just a single coin for $5. and instantly created a whole market cap of $5trill .. all for the cost of a coffee and packet of potatochips

it should be about how much real use is being done using a currency. how many businesses accept it as payment or are invested into a currency. much harder to measure. but atleast if you can see what network a business prefers to use indicates what currency the majority prefer.

[diazepam666]

Bitcoin is always dominate the crypto market because BTC market cap is always stay in leading position and Bitcoin is the only initial point of all the altcoins so Bitcoin will never come to an end. may be all the altcoins  are growing well in the market cap.so many peoples are think like that and it will be updated in some sites, so reality altcoin growing faster than Bitcoin so it will be really useful to make some noise in crypto market. I hope Bitcoin will globalised in upcoming years.

[uneng]

I believe bitcoin dominance tend to decrease within time as new altcoins projects come up with new concepts, such as defi ones. However bitcoin will remain as the number 1 crypto currency for a long time yet, as it is the most trusted one when we talk about digital currencies.
It's even more trusted than the called stable coins, that is how trusted and powerful bitcoin is!

There is also the possibility altcoins investments are just hypes, so after a while investing on them, enthusiasts come back to bitcoin investment, making bitcoin dominance oscillate down and up, but always rising on long run.

[adzino]

A lot of speculations coming around this forum as well as in many other sites regarding the dominance if BTC is going to end, Are the alts going to take over???

Where as I went through few links where it states like big whales are targeting altcoins over BTC. Pretty cool 😎 but I still believe in this valuable asset because remember what happened in 2017 it rallied more than 1000%. So guys don't panic and take serious decisions have patience till it recovers BTC is still dominating and hopefully it will in upcoming. Link just for reference.

https://dailyhodl.com/2020/07/21/bitcoins-status-as-crypto-king-is-coming-to-an-end-predicts-blockchairs-nikita-zhavoronkov-heres-why/amp/

I don't think bitcoin dominance is going to come to an end anytime soon. I mean, if people starts to see the price of bitcoin falling or being low, they start to dump every coin they hold thinking that it is end of crypto currencies. This is because, when someone says crypto currencies, the first thing that comes to most peoples mind are Bitcoin. If they starts to hear bitcoin is losing is dominance, they will think that "crypto currencies" are losing their dominance.

Are you sure those are some random "whales" that are targeting and trading altcoins and are not those developers who are manipulating the stats?

[dothebeats]

Oh this topic again.

It's normal for people to come into other cryptocurrencies when there aren't much movement being recorded by bitcoin. There's just too much volatility on the crypto markets that make it an interesting side investments for most of the people also doing trades in bitcoin. Fast moving markets, lots and lots of options to choose from makes it an inviting trading asset for loads of us. Though there may not be that much pump and dump coins nowadays due to stricter regulations and stricter rules in exchanges, that kind of thing still happens nowadays. Imagine the thousands upon thousands of altcoins created then abandoned after its profitability is done for, who wouldn't want to get into such opportunity?

Anyways, point is money is tossed around pretty often in the cryptomarkets. It's not going anywhere, people are just trying to make money by tossing one coin for profit, so on..