Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is the most dominant Crypto
by
coolcoinz
on 01/08/2020, 13:21:16 UTC
Bitcoin's dominance would be probably close to 100% if we were to exclude all the useless shitcoins and tokens from these crypto rankings lists. I'm personally not concerned at all about the % calculated anywhere - whatever happens, we all know BTC is almost always needed in the end.

I agree with this. Bitcoin dominance matters only because for some reason people tend to think that all cryptocurrencies are fairly equal and the crypto market cap should be understood as a whole, like it's one big industry. This leads to a misconception that value of 1 coin would transfer to the other if that first coin were to disappear.
Think about it for a moment. Would people who now hold XRP for instance buy Bitcoin if Ripple decided to file for bankruptcy? Would Bitcoiners suddenly buy ETH, BCH or XRP if Bitcoin became banned all over the world? I very much doubt that.