Quote from: stompix on January 29, 2018, 01:09:24 PM

Quote from: andhovesyan on January 28, 2018, 04:16:08 AM

But according to coinmarketcap BTC dominance in crypto market is 34%, though it was more than 60-70% on September, doesn't it mean that people started paying more attention ta altcoins and so alts eventually becoming more "independent"?

No, it simply means one thing.
You should stop looking at coinmarketcap.

That site is one of the reasons why of all noobs wanna be whale traders are going to get fleeced.

What is this marketcap?
A number that is made out of thin air by companies or gangs :
-"printing" coins out of thin air and claiming they are worth 1% but refusing audits? (thether)
- a centralized coin where they can print 100 millions sell 1 for 5 and here you go....(ripple)
- a ponzi like bitconnect?
- a coin like segwit2x? (yeah there is one!!)

Those shiny numbers mean nothing.
It's not like marketshare in the auto industry where Ford can't make 1 million cars out of the blue and then sell them to itself.

Unfortunately there is no number by which you can claim dominance, as the ones that might be reliable in other markets are easily faked here.
- number of transactions? - easily faked when you pay 1 doge fee
- volume of coins moved around - easily to fake just moving coins between wallets (again with 1 doge fee)
- number of active addresses (easily faked) , 1 tx with 1000 outputs
-number of addresses with a balance > same as above

Probably the only indicator for market dominance would be shops accepting that coin...
Bitcoin Atms (2127), shitcoin one? Huh

?

Of course, you are right saying that market cap's utility is overvalued, the best example is bitconnect when market cap decreased 10 times, while trading volume was 10 times lower and I'm also agree that we shouldn't take into account centralized currencies.
But I don't think you will argue, that coins like Ehereum, Monero, Litecoin, Dash, IOTA has a real value, they are becoming more popular every day and the difference with Bitcoin started to decline. And, please, correct me if I'm wrong, but I think ETH is more stable during current dump than BTC.