Quote from: NeuroticFish on Today at 07:17:19 AM

Well... it's kinda the same with "all cryptocurrencies merged together", just here you'd merge the Lambo with Renaults, Audis, Latas, Tata and so on...

Quote from: bakasabo on Today at 07:43:15 AM

Moving trading volume from alts to Bitcoin, for example, will cause a price growth in the beginning, as Bitcoin owners will try to sell their crypto more expensive, but later the price would go down and normalize. It will be sort of a pump and dump, but without hitting bottom.

I disagree. If everyone moved to Bitcoin, we would start noticing effects of scarcity. I understand what some try to say here. Market cap is price x supply so even if everyone moves their shit coins into Bitcoin, unless the price changes the market cap will continue to stay the same.

But. If global market cap is 3 trillion, Bitcoin's is 800 billion and everyone moves to Bitcoin. Then you have 2.2 trillion merging into an asset that is worth only about 30% of that. Now you have two ways to merge and they both have a strong impact over Bitcoin. Either you do it through some kind of emerging swap like a cross chain version of Uniswap by buying Bitcoin for your shit coins or you sell your shit coins first, buy Bitcoin and withdraw. If you sell all your shit coins then you will not have 2.2 trillion USD entering the market anymore because most shit coins are easy to dump. But you still have a ton of money entering Bitcoin's market.

Now if demand increases and hundreds of thousands or millions of users are moving to Bitcoin then the price HAS to increase. That is unless a bear market comes up, but I suppose we are talking about the ideal situation in which market stays approximately the same. What I would expect is that less Bitcoins would be available for everyone and automatically the price has to increase to sustain the overflow of investors and users. If Bitcoin's supply is 1 Bitcoin and you want half of it. Then I obviously do not want to lose my worth so to make room for you I have to double the price.

Am I getting this wrong?

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Regards,
PrivacyG