4 ms·
Your assessment from investment side is sound. Although I'd like to point out that bitcoin is now a rather small fraction of the whole spectrum of crypto econo
by justicezyx 8y ago
Your assessment from investment side is sound.
Although I'd like to point out that bitcoin is now a rather small fraction of the whole spectrum of crypto economy.
Bitcoin as a main-stream pioneer served its purpose well, and now the focus is actually to provide equal-quality infrastructure for crypto to become a meaningful candidate for future economy.
That prospect certainly does not warrant the hype and money currently in the area on a case-by-case basis. But any such large-scale changes have to have a phase of rampant lock-in of wealth from general public so the society as a whole commit to support the development of the technology for some minimal amount of time.
I actually no longer regret my negligence to bitcoin, which for anytime between 2009 and 2014 can help me make a fortune from complete financial freedom to a year of income, now I see the society have committed a good amount of resources; and a substantial fraction of people are aware of the concept. It's not the time for engineers to start work hard and build the actual infrastructure.
That hopefully can deliver the actual value!
- guiomie 8y ago"Although I'd like to point out that bitcoin is now a rather small fraction of the whole spectrum of crypto economy." What? It's over 50% of total crypto market cap. And a huge chunk of the altcoins are barely liquid.
- bdcravens 8y agoA bit pedantic, but Bitcoin is a hair under 50%, unless you count Bitcoin Cash with it (about 4%)
- guiomie 8y agoI was looking for a chart of that actually, what is your source? My point was also, a big chunk of alts do not have a super liquid market, makes it hard to count them seriously in all aggregate market cap.
- bdcravens 8y agohttps://coinmarketcap.com/charts/#dominance-percentage https://coinmarketcap.com/charts/#dominance-percentage I do of course agree with your overall conclusion - Bitcoin is still the most dominant, it just doesn't have the majority of market cap (since late 2017)
- EpicEng 8y ago>Although I'd like to point out that bitcoin is now a rather small fraction of the whole spectrum of crypto economy Sure, if you're calculating market share using the metric "how many crypto coins exist?", which makes no sense.
- garmaine 8y agoNo, just by the metric of market caps of fairly liquid coins (btc, bch, eth, sia, etc.). Bitcoin is the minority coin now.
- xwvvvvwx 8y agoBitcoin has always been the largest coin, and in fact has increased it's dominance by ~20% this year. Scroll to the botttom for the chart: https://coinmarketcap.com/charts/ https://coinmarketcap.com/charts/
- EpicEng 8y agoBTC is, by a _vast_ margin, the largest liquid coin, representing a hair under 50% of the market. So... what are you talking about?
- garmaine 8y agoUnder 50% is the definition of minority. For example, California is now minority-white, in that “white” is the reported ethnicity of less than 50% of the population, despite being still the largest sub-population.
- EpicEng 8y agoYeah, well there's no other coin out there which even approaches BTC's share, so calling it a "minority coin" is a bit disingenuous. You make it sounds like there are bigger players out there, which there aren't, and the entire point of your initial comment was to downplay the importance of BTC. >Although I'd like to point out that bitcoin is now a rather small fraction of the whole spectrum of crypto economy So really, a "rather small fraction"? c'mon.