Current scenario of Bitcoin Dominance

[Lasky366]

big marketcap coin like ETH Already pumping hard.It's already crossed $300+ level.

no that is not a pump, in fact in most cases that is a moderately big dump even if it doesn't look like it.
what happens is that whenever bitcoin price goes up, all these shitcoins like ETH have to do is to remain close to their previous value against bitcoin so that it looks like they are pumping.
for example if a shitcoin is worth 0.1BTC and bitcoin is worth $100 that shitcoin is $10 and when bitcoin goes up to $120 and that shitcoin dumps down 10% to 0.09BTC it shows a gain since it would be worth $10.8 but in reality it did dump.
in this scenario a pump would have been if it gained more than 20% to stay with bitcoin rise not lose -10%.

Well I can agree with it's not a pump logically you wanna say it's dump that's fine but how the hell you can say ETH is a shitcoin?Did you meant indirectly all ETH based tokens are shitcoin?Because we know  Children are always like their  mother.

[pooya87]

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Well I can agree with it's not a pump logically you wanna say it's dump that's fine but how the hell you can say ETH is a shitcoin?Did you meant indirectly all ETH based tokens are shitcoin?Because we know  Children are always like their  mother.

when a project promises a lot of things that delivers the exact opposite, that project is garbage. ETH promised decentralization, immutability, fast transactions, security, ASIC-resistance, cheapness, utility, and a lot more and failed on all of them. it also has one of the biggest premines and has been only getting pump and dumps for its entire existence.
that is the definition of a shitcoin.

[dragonvslinux]

big marketcap coin like ETH Already pumping hard.It's already crossed $300+ level.

no that is not a pump, in fact in most cases that is a moderately big dump even if it doesn't look like it.
what happens is that whenever bitcoin price goes up, all these shitcoins like ETH have to do is to remain close to their previous value against bitcoin so that it looks like they are pumping.
for example if a shitcoin is worth 0.1BTC and bitcoin is worth $100 that shitcoin is $10 and when bitcoin goes up to $120 and that shitcoin dumps down 10% to 0.09BTC it shows a gain since it would be worth $10.8 but in reality it did dump.
in this scenario a pump would have been if it gained more than 20% to stay with bitcoin rise not lose -10%.

I'm confused at what you're saying here, quick maths says that last week:
BTC +7.9% and ETH +30.3%. So ETH up 20+% against BTC. Coin go up.

So Ethereum did gain more than 20% than Bitcoin last week, not lose -10%?

when a project promises a lot of things that delivers the exact opposite, that project is garbage.

I'm not so convinced, I still think Lightning Network is pretty good to be honest, even if there's still a lot of hot air surrounding it.
Even if there's already a dozen shitcoin defi protocols with more liquidity, I like to look at the longer-term picture personally.

[pooya87]

I'm confused at what you're saying here, quick maths says that last week:
BTC +7.9% and ETH +30.3%. So ETH up 20+% against BTC. Coin go up.

So Ethereum did gain more than 20% than Bitcoin last week, not lose -10%?

that -10% was an example scenario to explain the situation, the drop can be from 1-2% to 50% during a small bitcoin price rise. and it is the scenario that happens during bitcoin price rises not bitcoin price stability times.
when you look at "past week" you are also including the time when bitcoin price was stable which is as everyone knows the golden time to pump shitcoins.
bitcoin started rising on Jul 26 when ETH price was 0.0319 and it is currently sitting at 0.0289 which is a -9.4% drop during bitcoin price rise.

when a project promises a lot of things that delivers the exact opposite, that project is garbage.

I'm not so convinced, I still think Lightning Network is pretty good to be honest, even if there's still a lot of hot air surrounding it.
Even if there's already a dozen shitcoin defi protocols with more liquidity, I like to look at the longer-term picture personally.

i think it was clear from context but if it weren't by "project" i mean altcoins and in that particular case ethereum.