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Subreddit for CoinCap.io and CoinCap News. Delivering realtime blockchain asset market data and news.
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CoinSalad.com: Bitcoin Market Charts, Data & Tools
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The subreddit for Bitcoins in Switzerland.
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Rank 4 On Coin Market Cap, Bitcoin Cash (BCH) Got Listed on Bcnex!

Rank 4 On Coin Market Cap, Bitcoin Cash (BCH) Got Listed on Bcnex! submitted by EndArmaG to Anarcho_Capitalism [link] [comments]

What Might Happen if Bitcoin Loses Its Dominance? – Crypto Disrupt

For the entire history of cryptocurrency, bitcoin has been the dominant coin almost entirely because it was the first fully functional cryptocurrency to go live and showcased the power of the blockchain. According to CoinMarketCap, Bitcoin has mostly had a 90% dominance over the market from 2013 to 2017. This means that for four years, 90% of the money within the cryptocurrency market was in the form of bitcoin. It also means that bitcoin had the highest market capitalization.
However, from March 10th 2017 to June 19th, 2017 its dominance fell to a mere 37%. In the space of just 101 days, bitcoin lost 53% of its dominance. Since then, it has never seen dominance beyond 65%. Bitcoin’s massive fall from grace was the first time that the market got a sense for its vulnerability, and if it wasn’t for such a drop in dominance, we might not have the same thriving and diverse market that we have today. This is because, on June 12th, 2017, Ethereum reached its highest market dominance of 33%. Bitcoin’s loss of dominance allowed for Ethereum’s network to grow and flourish, providing us with hundreds of ERC20 tokens.
At the moment, Bitcoin’s dominance is at 42%. This is still a massive number. In fact, it is absurdly massive. For comparison, there is nothing in the stock market that comes close to such dominance. While Bitcoin is a powerful force in the industry, it is perhaps not powerful enough to stay dominant forever. What would happen if it lost its dominance altogether? What if another coin held dominance?
Bitcoin could lose its relevance Bitcoin will always be remembered as the first cryptocurrency and the coin that brought us blockchain technology, but this alone is not enough to keep it relevant. Right now, bitcoin is used as a gateway into the world of cryptocurrency for investors. People mainly buy into it so that they can exchange it for other cryptocurrencies through services like Binance. This is partially because bitcoin is the most used trading pair, meaning that you need it to make trades with other more obscure coins. If bitcoin lost its dominance, it is likely that it would stop being used as the leading trading pair on exchanges.
No longer a viable store of value People who use bitcoin as a means of storing their wealth might think twice if it was to lose its dominance. At the moment, the most appealing aspect of using bitcoin for this function is that it is worth more than other cryptocurrencies. Without its dominance, people may start looking into other coins as a store of value. It is possible that they would come to the conclusion that a stablecoin is better suited for the job. Stablecoins are cryptocurrencies which are pegged to the price of something external (usually to legal tender or possibly gold). The most (in)famous example of this is Tether, which is pegged at $1.00, but investors are wary of using it as a store of value because of its shady handlings. New stablecoins like Dai are being developed that aim to take over from Tether.
The perk of storing your money in a stablecoin is that you can be confident that it will not fluctuate drastically like every other cryptocurrency.
Bitcoin’s price could drop significantly Not only does bitcoin have market dominance, but it is also the most expensive coin on the market. Technically, bitcoin could remain the most expensive cryptocurrency even with a minority dominance, but this is unlikely. Bitcoin’s price is arguably tied to people’s trust that it will stay dominant. Without its dominance, it loses its proof of relevancy, and therefore its price.
We would have a new dominant coin Naturally, if bitcoin lost its dominance, we would have a new dominant cryptocurrency. A reasonable guess would be that Ethereum would become the new dominant coin since it has the second largest market cap right now. If Ethereum gained market dominance, it is possible that all ERC20 tokens could rise significantly in price too as they rely on Ethereum’s blockchain. This would change the landscape of the market substantially. Ethereum dominance could mean that more Ethereum tokens enter the top ten on CoinMarketCap (currently only one token is there).
How likely is it that Bitcoin will lose its dominance? Bitcoin has only once come close to losing its dominance, which was on June 12th, 2017, when Ethereum’s dominance rose. Since then it has kept a comfortable distance from all other coins. The reason people think bitcoin will lose its dominance is that other coins, like Ethereum, are more functional. You can use this tool to see how close Ethereum is to overtaking Bitcoin in terms of dominance.
With that said, Bitcoin may never lose its dominance. While it does seem likely that one day another coin will be more valued, there is no reason to say that will ever happen. This was merely a discussion regarding what might happen should such a situation arise.
What are your thoughts?
Source: https://cryptodisrupt.com/what-might-happen-if-bitcoin-loses-its-dominance
submitted by pyro0049 to BitcoinMarkets [link] [comments]

The BSC Hard Fork of Bitcoin: An Overview

The BSC Hard Fork of Bitcoin: An Overview
Author: Hiro Midas

Background


Bitcoin is by far the most successful cryptocurrency. After ten years of development, the concept of Bitcoin as a community currency has gained widespread acceptance. With the participation of more and more miners, exchanges, developers, and ordinary users, the network effect of Bitcoin is strong and growing. According to the latest data from CoinMarketCap, Bitcoin Dominance accounts for 65.4% of the total market value of cryptocurrency, which is unmatched by any other blockchain project.
However, this huge network effect has not spawned more valuable applications on the Bitcoin network. This is mainly due to the non-Turing complete script of Bitcoin, which cannot support the implementation of complex logic. Although Bitcoin uses non-Turing-complete scripts for security reasons, this undoubtedly sacrifices more possibilities for the Bitcoin ecosystem and hinders the further expansion of its network effect.
Smart contracts are Turing complete and can be used to develop complex DApps. But even though Ethereum and other blockchain projects support smart contracts, the user base and network effects pale in comparison to Bitcoin.

https://preview.redd.it/r2mqkqsv0oq41.jpg?width=1400&format=pjpg&auto=webp&s=52f63dcf895b04b719fcde0b08054479706fd050

BSC = Bitcoin Users + Smart Contracts

https://preview.redd.it/xmgdkzwx0oq41.jpg?width=1400&format=pjpg&auto=webp&s=63ab187873f9364779fe5a13506ad2a015c55d73
We propose BSC (Bitcoin Smart Contract) in the whitepaper https://docs.bsc.net/en/bsc_en.pdf BSC will be a hard fork of Bitcoin, inheriting all the transaction history of Bitcoin, and will support smart contracts with unlimited flexibility. With the original user base and network effects of Bitcoin, BSC will enable DApps with real value.
Bitcoin users + smart contracts are likely to bring the entire industry into a new phase. Applications in the original smart contract ecosystem will likely bring qualitative changes with the help of Bitcoin’s network effect:
BTC + Digital Assets. Bitcoin users and developers will be able to issue digital assets similar to ERC-20 on the BSC network. The Bitcoin network effect makes these assets potentially more useful and valuable.
BTC + DeFi. Similar to MakerDAO, decentralized lending and fund custody, stablecoins, etc. will be built on the user base of Bitcoin to gain greater scale and visibility with the leading crypto asset.
BTC + Privacy Protocol. Since Bitcoin assets account for a very high proportion in the entire industry, Bitcoin users’ need for privacy is even more urgent. A smart contract-based privacy protocol can be built in the BSC ecosystem, and Bitcoin users can use this to achieve asset privacy.
BTC + DApp. Bitcoin users can directly create various DApps in the BSC network, such as decentralized exchanges, decentralized games, and decentralized domain name services. These applications are not mainstream now, but given the huge network effect of Bitcoin, there will be more DApps that can prove their value.

Compatibility with Bitcoin Ecosystem

To provide the huge network effect of Bitcoin, BSC is technically compatible with Bitcoin in terms of the underlying architecture and network parameters:
The infrastructure layer of the BSC adopts the UTXO (Unspent Transaction Output) model that is completely consistent with Bitcoin, supports all script types of Bitcoin, and naturally supports SegWit, multi-sig, etc. Compared with the account model, the UTXO model has certain advantages in terms of security, anonymity, and parallelism, and supports SPV (Simple Payment Verification), which makes it easier to support light wallets.
Due to the consistency of the underlying architecture, BSC is naturally compatible with the Bitcoin ecosystem. For example, all types of Bitcoin wallets, browsers, and Layer-2 protocols (such as the Lightning Network) can directly support BSC, and users have no limits.
Also, the upper limit of the total supply of BSC, the inflation rate, and the halving period are all consistent with Bitcoin. BSC will also inherit all the transaction history data of Bitcoin. Bitcoin users will obtain the equivalent BSC 1: 1. All subsequent BSC coins will be generated by PoW mining, and the development team will not have any pre-mining or pre-allocation of any coins.

Compatibility with Smart Contracts

Virtual machines are the execution environment of smart contracts. Based on maintaining the above compatibility with Bitcoin’s underlying infrastructure, BSC has achieved compatibility with EVM (Ethereum Virtual Machine) by adding additional scripts and intermediate layers, so that it can theoretically support all smart contracts in the Ethereum ecosystem. Popular applications in the Ethereum ecosystem, such as MakerDAO, AZTEC privacy protocol, decentralized stablecoins, etc., can be directly ported to the BSC network. Although these applications have received some attention on Ethereum, restrictions on the Ethereum network has significantly limited their further development. For example, decentralized lending, if you rely on the stability of Bitcoin assets and the participation of Bitcoin users, you will get more room for development.

Mining Algorithm and Reward

BSC uses the PoW consensus mechanism. Unlike Bitcoin, BSC uses the newer SHA-3 + Blake2b mining algorithm. Bitcoin’s computing power is mainly controlled by several large Bitcoin mining pools. If BSC used a PoW mining algorithm the same as Bitcoin or any mining algorithm that already has ASIC miners, there would be a good possibility for the network to suffer 51% attacks during the initial startup. To reduce the risk of attack and keep the network sufficiently decentralized, BSC uses the SHA-3 + Blake2b hash algorithm. This algorithm has been verified in projects such as Handshake, and currently, there is no ASIC miner available, which helps ensure the stable development of the BSC network.
As a BSC miner, in addition to the block rewards and transaction fees like Bitcoin, the block rewards will include the gas cost of smart contracts. Every halving of bitcoin brings significant challenges to miners. When the future bitcoin block reward is reduced to zero, whether transaction fees can support miners’ income is still unknown. The introduction of smart contracts will give BSC miners a source of additional revenue, further encourage miners to participate in mining, and protect the security of the network.

Community Governance

The BSC project is initiated by the developers from its community, and they no economic benefits. Therefore, the development of the BSC project must rely on a sufficient number of people to recognize its value. To verify interest, BSC will collect digital signatures from the Bitcoin community, and the project will not officially start until it receives signature support for more than 50,000 BTC, as shown on the official website (https://bsc.net/).
After the project was released on Bitcointalk https://bitcointalk.org/index.php?topic=5231921.0 , the BSC project gained more and more attention in the Bitcoin community, and the number of signatures collected is steadily increasing, proving that more and more Bitcoin holders have recognized the idea of Bitcoin Smart Contract. From https://bsc.net/


https://preview.redd.it/2qkpg3611oq41.jpg?width=1400&format=pjpg&auto=webp&s=8cf83f1f4b9866fc1a538b8daf8e2fc340336589
submitted by bitcoinSCofficial to BitcoinSCofficial [link] [comments]

Crypto Arbitrage Exchanges Could Become the Future of Crypto Trading

Crypto Arbitrage Exchanges Could Become the Future of Crypto Trading

https://preview.redd.it/p2s4sikln2q41.png?width=1280&format=png&auto=webp&s=d970a9b9f28f3ad4e8420bc4dcee710cfa8854b1
Since Bitcoin launched, thousands of others have been brought into existence. Globally, a market cap of cryptocurrencies within the first three months of 2020 is ranging from around $81 to $195 billion, with BTC price ranging from around $4,100 to $10,457, according to CoinMarketCap. Bitcoin still accounts for around 65% of the total market.
READ FULL ARTICLE
submitted by torex_one to TorexOne [link] [comments]

Markaccy token has just been listed on coin market cap. Check it out #Markaccy #TokenSale #ICO #bitcoin #ethereum #crypto #cryptocurrencynews

Markaccy token has just been listed on coin market cap. Check it out #Markaccy #TokenSale #ICO #bitcoin #ethereum #crypto #cryptocurrencynews submitted by Ronibarua to CryptocurrencyICO [link] [comments]

Markaccy token has just been listed on coin market cap. Check it out #Markaccy #TokenSale #ICO #bitcoin #ethereum #crypto #cryptocurrencynews

submitted by princejebs to Crypto_General [link] [comments]

Polkadot and Binance Coin Flippen Bitcoin Cash and Chainlink by Market Cap

Polkadot and Binance Coin Flippen Bitcoin Cash and Chainlink by Market Cap submitted by superradgrapes to CryptoCurrency [link] [comments]

Polkadot and Binance Coin Flippen Bitcoin Cash and Chainlink by Market Cap (x-post from /r/cryptocurrency)

Polkadot and Binance Coin Flippen Bitcoin Cash and Chainlink by Market Cap (x-post from /cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

08-31 08:25 - 'Coin / token price and market cap aren’t the same thing ...' by /u/Juxton removed from /r/Bitcoin within 629-639min

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Coin / token price and market cap aren’t the same thing ...
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submitted by removalbot to removalbot [link] [comments]

Can Litecoin Halving Really Double Your Investment?

Can Litecoin Halving Really Double Your Investment?


Two big halvings in less than a year.
The next Bitcoin halving is less than a year away, and Litecoin’s block rewards are expected to fall within two months. These events are likely to restrict the supply of both cryptocurrencies, leading some speculators to count on the reduced supply for another bull run. In fact, given the recent run-up in price to a 12-month high of $128 at the time of writing, Litecoin halving fever already seems to have struck the market.
But, as we’ll see, those returns may not be as inevitable as some traders think.
Why Do Mining Rewards Fall?
The rate that new coins are created is cut in half every four years, effectively reducing inflation rates and cutting supply in the digital currency. Bitcoin’s current inflation rate is just over 4%, and will become 1.8% after the halving. In comparison, the U.S. Federal Reserve targets a 2% inflation rate each year.
Bitcoin inflation rate versus price over time. Via CoinMarketCap
Bitcoin has followed the same emission schedule since the genesis block, except for one slip-up: an inflation bug (CVE-2010-5139) created 184 billion bitcoins on August 15, 2010 at block height 74638.
Bitcoin supply curve. Source: messario.io
What will happen to the price of Bitcoin?
It’s risky to use previous halvings to draw a conclusion for the future, because it’s such a small sample size. However, we do know that inflation (and therefore supply) will decrease. ECON101 tells us that a supply decrease coupled with stagnant demand leads to a price increase, and we’ve predicted positive results for the halving before.
On the day of the first halving, November 28, 2012, the price of BTC was $12.35, and reached $127 just 150 days later. One year after the halving it was $205. 150 days prior to the halving the price was $5.24.
Bitcoin at the first halving. Via BuyBitcoinWorldwide.
So, the first halving was clearly a good time to buy BTC. If you had bought five months before the halving and sold it one year afterwards, your investment would have returned forty-fold returns.
The second halving was less dramatic, but still profitable. On July 9th, the day of the 2016 halving, the price of BTC was $650.63 and reached $758.81 just 150 days later. One year after the halving it was $2350. 150 days prior to the halving the price was $405. So, during that halving there was nearly a sixfold investment opportunity.
Bitcoin at the second halving. Via BuyBitcoinWorldwide.
Again, the sample size is small, but the relationship is clear – buying before the halving and holding for a long time afterwards has been very profitable.
What About Litecoin?
The impending Bitcoin halving has been well covered, but what does this mean for Litecoin – the silver to Bitcoin’s gold? Litecoin was launched as a fork of Bitcoin, which would be “four times as fast with four times the supply.”
Litecoin, like Bitcoin, still halves every four years. But its halving schedule has seemingly slipped under the radar.
To date, Litecoin has only had one halving, which was on August 26th, 2015, and the next halving is only two months away. This time the sample size is even smaller, since this event has only happened once in history. But the results are interesting given that they don’t really mimic Bitcoin’s.
The best metric to use on Litecoin is its price relative to BTC.
On the day of the halving LTC was worth 0.01272 BTC. 150 days later the price actually decreased by 35% to 0.008189 BTC. One year after the halving the price was nearly 50% lower at 0.006595 BTC.
Looking at the graph below, it’s clear that the price of LTC peaked approximately 6 weeks prior to the halving, as if traders anticipated similar results to the Bitcoin halving but were disappointed.
Litecoin price at 2015 halving
In the last halving, purchasing 8 weeks prior to the halving would have returned less than a 5% profit to the date of the halving.
As of June 6th, we are exactly 8 weeks away from the LTC halving date, but this one may not be easy money. Based on an (admittedly tiny) sample size, history shows that LTC is unlikely to hold its run against Bitcoin.
submitted by iTradeBit to bitcoin_crypto [link] [comments]

08-10 15:45 - 'Chain link is now the 6th largest crypto by market cap @ $4.8 billion with a price of $14. Its a total scam tho!! The developers (team) hold 80% of all the coins and they were pre mined. Chain link (being an ERC 20 toke...' by /u/WocketMan0351 removed from /r/Bitcoin within 100-110min

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Chain link is now the 6th largest crypto by market cap @ $4.8 billion with a price of $14. Its a total scam tho!! The developers (team) hold 80% of all the coins and they were pre mined. Chain link (being an ERC 20 token) uses eth for gas prices and to make API calls which are insanely high right now. Unless you pay over $6-$7 in eth for “gas” or transaction fees, your tx isn’t going thru for weeks. It’s not surprising that Chainlink now has a market cap of $5 billion, because BCH and BSV are right around there to, both of which are total scams of a bitcoin hard fork and are 100% centralized garbage. Tether, another ERC-20 token also has a market cap of $10 billion and its $1 tokens are back by actual dollars as much as USD are backed by gold....it’s a scam but it’s used by lots of crypto traders. XRP.....3rd largest coin by market cap @ $13 billion. Totally centralized shitcoin that was premined and held by the company ripple. It’s absolute garbage. What does XRP do that bitcoin can’t? Why use a centralized coin like that?
Bottom line, there is not demand for other crypto’s like there is for bitcoin. Go to any store that accepts crypto (very few) and tell how many stores will accept something other than bitcoin. They won’t. These other coins are fast and cool at face value, but what’s happening under the hood isn’t really any different than the digital currencies that happened before bitcoin. These centralized projects can be squashed, attacked, and shut down by anyone with enough computing power or the govt. bitcoin cannot. That’s what makes bitcoin revolutionary. It worked because no one thought it would, and now it’s so insanely large it’s pretty much too big to fail and it will ALWAYS dominate its ecosystem until something JUST AS REVOLUTIONARY as bitcoin was comes along. Until then, bitcoin will continue to be #1. If I need to be corrected, or someone has something else to add, please do. Criticize me.
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submitted by removalbot to removalbot [link] [comments]

The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem

The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem

https://preview.redd.it/x73cq4igkqg31.jpg?width=1200&format=pjpg&auto=webp&s=f5ecfad33f5026625f438274b443db9377f258c5
As the financial media outlets are pushing Bitcoins with all her energy, a Harvard University Professor of Economics and Public Policy Kenneth Rogoff ascribed as a crypto Evangelists and has released some publications in the field of cryptocurrency opines that, with the massive push cryptos are getting, there would be a comprehensive market takeover where cryptocurrencies could explode over the next five years, rising to $5-10 trillion.”
He believes the usual volatile nature of the asset is not enough reason to panic.
“Bitcoin as digital gold, starting its long-term value will more likely move from $100 to $100,000”, he said.
Professor Rogoff, on the other hand, disagrees, saying that unlike physical gold, “Bitcoin’s use is limited to transactions, which makes it more vulnerable to a bubble-like collapse.
In his thoughts, he only feels the cryptocurrency’s energy-intensive verification process is “vastly less efficient” than systems that rely on “a trusted central authority like a central bank.”
Cryptocurrency being a digital currency, created and managed through the use of advanced encryption techniques known as cryptography has been gradually modifying the world of finance as well as other sectors such as e-commerce and since its creation in 2009. It irked significant investor and media attention in April 2013 when it clocked a record of $266 per bitcoin after declining by 10 times that figure in its previous two months. Cryptocurrencies are now generally gaining way into the mainstream media through the facebook owned coin Libra.
Many will not forget in a rush the wave which pulled through when bitcoin in August 2017 almost hit the $20,000 mark.
According to CoinMarketCap, Bitcoin had hit a market value of over $2 billion at its peak, but a 50% drop shortly, sparked a strong opinion poll on the future of cryptocurrencies in general especially Bitcoin. The argument now became, will these altcoins eventually takeover conventional currencies and become a world-matching currency just like the dollars and euros one day? Or are cryptocurrencies a passing phase that will not stand the test of time?
submitted by SilkChain to SilkNews [link] [comments]

The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem

The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem

https://preview.redd.it/6azi92bbkqg31.jpg?width=1200&format=pjpg&auto=webp&s=025869105ed4f3c94013c505e59af4184ad063f8
As the financial media outlets are pushing Bitcoins with all her energy, a Harvard University Professor of Economics and Public Policy Kenneth Rogoff ascribed as a crypto Evangelists and has released some publications in the field of cryptocurrency opines that, with the massive push cryptos are getting, there would be a comprehensive market takeover where cryptocurrencies could explode over the next five years, rising to $5-10 trillion.”
He believes the usual volatile nature of the asset is not enough reason to panic.
“Bitcoin as digital gold, starting its long-term value will more likely move from $100 to $100,000”, he said.
Professor Rogoff, on the other hand, disagrees, saying that unlike physical gold, “Bitcoin’s use is limited to transactions, which makes it more vulnerable to a bubble-like collapse.
In his thoughts, he only feels the cryptocurrency’s energy-intensive verification process is “vastly less efficient” than systems that rely on “a trusted central authority like a central bank.”
Cryptocurrency being a digital currency, created and managed through the use of advanced encryption techniques known as cryptography has been gradually modifying the world of finance as well as other sectors such as e-commerce and since its creation in 2009. It irked significant investor and media attention in April 2013 when it clocked a record of $266 per bitcoin after declining by 10 times that figure in its previous two months. Cryptocurrencies are now generally gaining way into the mainstream media through the facebook owned coin Libra.
Many will not forget in a rush the wave which pulled through when bitcoin in August 2017 almost hit the $20,000 mark.
According to CoinMarketCap, Bitcoin had hit a market value of over $2 billion at its peak, but a 50% drop shortly, sparked a strong opinion poll on the future of cryptocurrencies in general especially Bitcoin. The argument now became, will these altcoins eventually takeover conventional currencies and become a world-matching currency just like the dollars and euros one day? Or are cryptocurrencies a passing phase that will not stand the test of time?
submitted by SilkChain to u/SilkChain [link] [comments]

Support it

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Bitcoin (BTC) now accounts for 50% of the market value of the entire cryptocurrency. At around 03:00 on August 11, CoinMarketCap's bitcoin market share, which tracks the percentage of the leading cryptocurrency in the total cryptocurrency market, reached 50% for the first time since December 19, 2017. As of now, the market value of Bitcoin is currently $105,785,552,545, which is about $901 million higher than the total market value of all other cryptocurrencies. Bitcoin’s market share has steadily increased over the past few months and is currently up 14% from May 1. During the same period, the market dominance of all other cryptocurrencies was basically declining. When the market share of Bitcoin last exceeded 50%, the situation was very different. According to the CoinDesk Bitcoin Price Index, on December 19th, the average price of the exchange's BTC was $17,605.81 - 65% higher than today's cryptocurrency price.
https://preview.redd.it/ewi1hzmk3zf11.jpg?width=900&format=pjpg&auto=webp&s=a33cbbd2de7da93b4fa3a7f0592bdce66931ec53
submitted by Melodydy to Bitcoin [link] [comments]

The market cap of Bitcoin is greater than ALL other crypto assets combined, including stable coins

At 65% market dominance, you could fairly say that BTC is the leader of the pack.
submitted by FluidAttitude to btc [link] [comments]

01-14 08:53 - 'Bitcoin Will Still Bite the Dust - CoinDesk' (self.Bitcoin) by /u/smathium removed from /r/Bitcoin within 338-348min

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Back in August 2014, I discovered that the bitcoin mining industry had the industrial structure of a natural monopoly. A natural monopoly is a market in which production is most efficient with a single producer.
This discovery came as a shock, but the implication was clear: Bitcoin could not survive in the long run. As a check, I field tested my reasoning on various people who are economically literate. None disagreed.
When I first arrived at that conclusion, [bitcoin’s price]1 was $379. Since then, its price rose to nearly £20,000 and has since fallen to a value $3,621 at the time of writing.
Does the subsequent price behavior of bitcoin mean my prediction was wrong? No. I still think that the long-run equilibrium price of bitcoin is zero. It just hasn’t bitten the dust yet.
My reasoning is based on two simple economic arguments. The first is that the bitcoin mining industry is a natural monopoly and a natural monopoly undermines bitcoin’s core value proposition. The second is that in markets with zero regulatory entry barriers, an inferior product cannot survive long-term. Either of these arguments is sufficient to produce my conclusion that the price of bitcoin must go to zero in the long term.
Together, they are more than sufficient to establish that conclusion.
I have also yet to hear a single intelligent challenge to this argument from the bitcoin community. Instead, the typical response has been personal abuse. Name-calling is no substitute for a reasoned response, however.
Let’s consider these two arguments in turn.

Bitcoin Mining Is a Natural Monopoly

To work as intended, the bitcoin system requires atomistic competition on the part of the miners who validate transactions blocks in their search for newly minted bitcoins. However, the mining industry is characterized by large economies of scale.
Indeed, these economies of scale are so large that the industry is a natural monopoly. The problem is that atomistic competition and a natural monopoly are inconsistent: the built-in centralization tendencies of the natural monopoly mean that mining firms will become bigger and bigger – and eventually produce an actual monopoly unless the system collapses before then.
The implication is that the bitcoin system is not sustainable. Since what cannot go on will stop, one must conclude that the bitcoin system will inevitably collapse. The only question is when.
I could go on at length about how this centralizing tendency will eventually destroy every single component of the bitcoin value proposition, knocking them down like a row of dominos: the first domino to fall will be distributed trust, Bitcoin’s most notable attraction; the system will then come to depend on trust in the dominant player not to abuse its power.
This player will become a point of failure for the system as a whole, so the “no single point of failure” feature of the system will also disappear. Then pseudo-anonymity will go, as the dominant player will be forced to impose the usual anti-anonymity regulations justified as means to stop money laundering and such like, but which are really intended to destroy financial privacy.
Even the bitcoin protocol, the constitution of the system, will eventually be subverted. Every component of the bitcoin value proposition will be destroyed. The bitcoin system will then become a house of cards: there will be nothing left within the system to maintain confidence in the system.

An Inferior Product Cannot Survive

There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry.
Imagine you have a market with no entry barriers. The first firm to enter the market has 100 percent of the market share, as bitcoin once did. Competitors then come along and make inroads into the market.
Some of these offer products that are superior to the product produced by the first firm, not least because their producers have learned from some of the design flaws in the first firm’s product. And eventually superior rivals displace it completely and the market share of the first product goes to zero.
There is some evidence to suggest that this process is at work in the bitcoin market: according to CoinMarketCap, bitcoin’s share of the cryptocurrency market had fallen to 94.29 percent by April 28, 2013 (the first date for which they provide data) to 52.29 percent by today.
This fall has not been uniform – we would not expect that – but the direction of travel is clear: bitcoin is losing its market share. Whether its market share will continue this downward trend and gradually fade out or suddenly go pop is another issue. I suspect the end will come when something triggers a selloff that leads the Bitcoin price to fall its natural long-run level, zero.
The history of innovation also supports my belief that bitcoin cannot last indefinitely.
The innovators – the early movers in a market – rarely survive long-term under conditions of free entry. An example is the Ford Model T. This automobile was first produced in 1908 and soon came to dominate the market. But competitors learned from its design flaws and built better cars, which eventually stole its market share. The Ford Model T now survives only as an antique.
The difference between the Ford Model T and bitcoin, however, is that bitcoin has no antique value. Do I still think that bitcoin will bite the dust? You bet.

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Bitcoin Will Still Bite the Dust - CoinDesk
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1: www.coi*d*s*.co**pri*e/ 2: www.**indes*.*o*/b**coin-w*ll-**ill-bite-th*-d*st 3: *ww.*oi*desk.com/b**coin-wi*l**til*-bite**he-du*t]^^*
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Bitcoin Atom looks like a really interesting fork

Bitcoin has seen tremendous growth over the last few months, however it is starting to run into huge issues. The high transaction fees and inability to handle more than 4-5 transactions per second are starting to show consequences. A promising solution to these problems is an upcoming hard fork called Bitcoin Atom (BCA). Bitcoin Atom will include a hybrid proof of work and proof of stake system, hash time-locked transactions for added decentralization, and atomic swaps for cryptocurrency trading.
Bitcoin suffers from the vulnerability of 51% computing power. If a single entity takes over 51% of the entire computing power in the Bitcoin network it can effectively take control of the blockchain. Bitcoin suffers from a huge problem of miner centralization. Huge ASIC farms create a high barrier of entry for new miners. These ASIC farms can pose a huge problem if one gains 51% of computing power in the network. Bitcoin Atom utilizes a hybrid proof of stake and proof of work system to stop this. This hybrid approach will increase network stability and stop this possible attack vector.
Hash time-locked transactions (HTLCs) are aimed at also helping to promote decentralization. HTLCs will fundamentally change the way of exchanging cryptocurrency and help to stop centralization and gain true independence, where only the system has the power to disrupt itself. Bitcoin Atom has come a long way since August of 2017. In September 2017, Atomic swap research completed. In October, the Bitcoin Atom concept was fully planned and created. November led to a full-on testnet trail. In December, replay protection was added. In the future, the developers of Bitcoin Atom hope to add lightning swaps in addition to segregated witness technology to allow for cheaper transactions.
Perhaps the most intriguing of Bitcoin Atom’s features is its built in ability to perform Atomic Swaps. Atomic swaps are quick, secure, and anonymous transactions between two different cryptocurrency blockchains that require no intermediary such as an exchange. The first atomic swap was done by Charlie Lee between Litecoin and Bitcoin back in 2013. Since then, development has progressed a long way. Atomic swap technology has undergone tremendous development is now viable for actual use. Currently, the trading cryptocurrencies is burdened by high costs and wait times. In addition the hassle of identity verification is a big hindrance to cross-chain swaps. With Bitcoin Atom’s Atomic swaps, converting cryptocurrency will be fast, anonymous, and cheap.
Bitcoin Atom cap will be 21 million like Bitcoin. The block size will stay at the same 1 MB, although this shouldn’t be too much of a problem thanks to its new features. Bitcoin Atom will separate from the main Bitcoin chain at block number 505,888 which will be sometime between January 25 and January 26, 2018. All Bitcoin users with their private keys will possess the same amount of BCA as they have BTC at the time of the fork.
There are also a number of other ways to get BCA. Bitcoin Atom has a bounty program for social media promotion and campaigns. Bitcoin Atom has also partnered with the exchanges Yobit and Exrates to allow for the purchase of BCA. Bitcoin Atom also released futures on CoinMarketCap.
Bitcoin Atom’s atomic swaps will allow for easy, fast, inexpensive, and anonymous cross-chain transactions and conversions. Bitcoin Atom’s hybrid proof-of-stake and proof-of-work system will increase network stability and decrease the 51% attack. The system will truly become free and independent with the use of HTLCs.
Bitcoin Atom Website: https://bitcoinatom.io Bitcoin Atom twitter for live updates: https://twitter.com/atombitcoin Bitcoin Atom ANN: https://bitcointalk.org/index.php?topic=2515675.0
submitted by DataPools to BitcoinAirdrops [link] [comments]

Real Estate & Blockchain

Passive Income with CurveBlock: Real Estate Development and Cryptocurrency Dividend Payments on the Blockchain
For many, earning a passive income through stocks and shares is a vital tool for future planning and earning a living, it is also the difference between being financially secure and financially liberated.
Real-estate blockchain startup CurveBlock is preparing to introduce an investment opportunity that pays out crypto-dividends. no matter what condition the markets are in. But before examining the CurveBlock platform, let’s take a look at the present crypto-market conditions.
Crypto-Market Value In the era of blockchain technology, the speculative markets were the focal point of public and media attention, which drew a lot of attention to its potential not only as a store of value but also an asset with potential returns.
Take a look at sky-high markets from the 2017 winter boom, and you’ll see that cryptocurrencies were significantly outgunning equity markets.
Coins such as Bitcoin, Ripple, and Ethereum reached market capitalizations in the tens and hundreds of billions. Naturally, these astronomical values garnered attention from industries and institutions of all sizes, and for a moment it felt like a new gold rush was on.
The combined market cap in January of 2017 was around 17 billion USD, and this shot up to almost 600 billion USD by December 31st of that same year. According to CoinMarketCap, bitcoin made up $220 billion of that total capitalization, more than Ripple and Ethereum combined.
Worthwhile Investment? Speculative riches were imagined and realized over this period of time, but inevitably these highs would not last and the market eventually declined into a more stable form.
Depreciations tend to cause skepticism to arise, bringing volatility and short-term gains into question, as well as if it is possible to make a passive income from cryptocurrencies during such market conditions.
It may be an intergenerational issue, with millennials tending to be the ones who will vouch for bitcoin and cryptocurrencies as the next best investment opportunity since property and real-estate. Older generations, on the other hand, may not have a grasp of the technology or consider cryptocurrency as a future-proof investment like property or pension schemes.
Purely speculating on cryptocurrencies with a long-term or short-term plan is a typical route on the surface of the market; however, alongside the boom of value came a set of blockchain innovations granting users passive income via cryptocurrencies.
Aside from the big coins like Ethereum and Bitcoin, there are now actual products, platforms and other means for anyone to generate a passive flow of cryptocurrency. A recent article on CoinSutra shed light on the “Top 3 ways” to make such gains which were: staking cryptocurrencies, running a Masternode and investing in cryptocurrencies that pay out in dividends.
CurveBlock Real estate development is likely to remain a solid investment opportunity, but it is a sector likely to be disrupted heavily by blockchain solutions and CurveBlock is uniquely positioning itself as one of the key companies in this transformative era.
CurveBlock is the first peer-2-peer (P2P) real estate development company in the world that is designed to share and distribute all profits with its community using blockchain technology; it does so through ‘Smart Staking Wallets’ and these enable passive income for as long as the user so desires.
Users select a property development project, stake tokens against it, receive dividends and can then sell their original tokens, or stake on a new development.
It is also host to its own centralized exchange, where users stake their tokens against real estate developments, from which they will receive a profit share upon project completion (built and sold). Fascinatingly, in order to guarantee value and circumvent market volatility, CurveBlock will be paying out dividends with a stable token.
CurveBlock will also be donating 5% of profits from every development to charity; these charities will be selected by the CurveBlock community using the voting rights granted by the CurveBlock token.
Real Issues The CurveBlock whitepaper brings up a number of issues that challenge the real estate industry such as global populations climbing drastically, housing demands and climate change. Whilst it admits that these factors are out of immediate control, there are however practices within the industry that need to change.
The whitepaper writes: “individuals not qualifying for loans to develop projects, low property appraisals which lead to excessive low home values, the complexity of government regulatory setups, and lack of structures to balance times of boom and financial downturns, and disclosure of personal information.”
CurveBlock argues that blockchain technology is the opportunity of a lifetime and that it can remedy such challenges thanks to its fundamental characteristics. Through a decentralized P2P and smart contract powered network, the reliance on traditional funding methods such as banks and other lenders will be a thing of the past.
Faster turnaround, greater transparency, unprecedented security and value for investors are of paramount importance for CurveBlock.
Boom and Bust Years There are parts of the CurveBlock project that are extremely promising, but of all its features (many not mentioned in this article), the “Boom Years” and “Bust Years” proof mechanism is rather genius.
Property markets are notorious for cycles of booms and busts, where prices are either stifled by market downturns, followed by years of moderate growth until the next cycle begins.
CurveBlock found a way around this to further add security and value to the user experience; during “Bust Years”, CurveBlock developments will be placed in the open rental market until recovery, rent profits are shared with token holders. On the flip side, during “Boom Years”, all developments will be sold on the open market with profits shared accordingly with token holders.
New Asset Class Bitcoin, cryptocurrencies, and blockchain technologies are transforming from niche fringe technologies to a new class of asset at an unexpectedly fast pace; with the unprecedented growth of users and global regulation of the technology now coming into view, CurveBlock is well positioned to be one of the largest real estate development companies in the world.
To find out more, head to the official CurveBlock website and discover a proactive wealth management strategy built on blockchain technology.
submitted by Gary-C-Woodhead to CurveBlock [link] [comments]

When do you guesstimate Bitcoin Cash's market cap will surpass all other coins and become #1?

Also, what do you believe will be the tipping point event for Bitcoin Cash to reach the no.1 spot? More merchant adoption?, epic congestion on the Bitcoin Core network? or something else?
submitted by TheBitcoinWhale to btc [link] [comments]

CoinTools: a set of command-line tools and Ruby libs for checking cryptocurrency prices on CoinMarketCap etc.

Link: https://github.com/mackuba/cointools
I've been building some tools for myself since January to automate some work around crypto trading. One thing I needed was a way to quickly check the price of a given coin right now or in the past ("what was the price of BTC on Kraken last Monday when I made that purchase/sale?"), either manually when I'm updating some spreadsheets, or as a part of some larger script. Previously I'd usually do this manually, opening CoinMarketCap/Bitcoinity/Cryptowatch, finding the right date and reading the value from the chart, but it was pointless work that added up to quite a lot of time, so it seemed like a perfect thing to automate by connecting to these sites' APIs. (Of course it kind went like this: https://www.xkcd.com/1319/ since I probably spent way more time building this than I saved...)
So far I've added support for 3 price APIs: CMC, Cryptowat.ch and CoinCap.io, and I'm not really planning to add any more at this point since this covers everything I need: CMC lists every coin possible, Cryptowat.ch has past prices for most major coins on major exchanges with pretty good precision, and CoinCap.io has past prices for more coins but with worse precision.
 
All 3 can be used in two ways:
 
1. From the command line:
> cmcap bitcoin bitcoin @ 2018-07-12 16:52:37 +0200 ==> 6201.51 USD 
You can add -q to get just the value, if you want to pass it further to other commands:
> cmcap bitcoin -q | sed -e 's/\./,/' >> stats.csv 
For Cryptowatch and CoinCap you can also check historical prices (the precision usually decreases the further you go in the past, but it should usually be good enough):
> cryptowatch kraken btceur "2017-12-27 9:30" kraken:btceur @ 2017-12-27 09:00:00 +0100 ==> 13562.4 EUR 
CoinMarketCap doesn't currently have a public API that lets you check prices in the past.
 
  1. If you know Ruby, you can make all the same calls from code, and some more - e.g. for CMC there's a method to download all coins on the site sorted by rank.
    require 'cointools'
    cw = CoinTools::Cryptowatch.new result = cw.get_price('kraken', 'btceur', Time.new(2017, 12, 1)) puts result.price
    cmc = CoinTools::CoinMarketCap.new cmc.get_all_prices.first(10).each { |c| p [c.symbol, c.usd_price] }
 
Hopefully someone will find these tools useful :)
submitted by psionides to BitcoinMarkets [link] [comments]

Positive

Positive
Bitcoin (BTC) now accounts for 50% of the market value of the entire cryptocurrency. At around 03:00 on August 11, CoinMarketCap's bitcoin market share, which tracks the percentage of the leading cryptocurrency in the total cryptocurrency market, reached 50% for the first time since December 19, 2017. As of now, the market value of Bitcoin is currently $105,785,552,545, which is about $901 million higher than the total market value of all other cryptocurrencies. Bitcoin’s market share has steadily increased over the past few months and is currently up 14% from May 1. During the same period, the market dominance of all other cryptocurrencies was basically declining. When the market share of Bitcoin last exceeded 50%, the situation was very different. According to the CoinDesk Bitcoin Price Index, on December 19th, the average price of the exchange's BTC was $17,605.81 - 65% higher than today's cryptocurrency price.
https://preview.redd.it/ejznijid4zf11.jpg?width=900&format=pjpg&auto=webp&s=9ad90f3efbad014584ca60378325ef2a368535ab
submitted by Melodydy to btc [link] [comments]

CoinTools: a set of command-line tools and Ruby libs for checking cryptocurrency prices on CoinMarketCap etc.

Link: https://github.com/mackuba/cointools
I've been building some tools for myself since January to automate some work around crypto trading. One thing I needed was a way to quickly check the price of a given coin right now or in the past ("what was the price of BTC on Kraken last Monday when I made that purchase/sale?"), either manually when I'm updating some spreadsheets, or as a part of some larger script. Previously I'd usually do this manually, opening CoinMarketCap/Bitcoinity/Cryptowatch, finding the right date and reading the value from the chart, but it was pointless work that added up to quite a lot of time, so it seemed like a perfect thing to automate by connecting to these sites' APIs. (Of course it kind went like this: https://www.xkcd.com/1319/ since I probably spent way more time building this than I saved...)
So far I've added support for 3 price APIs: CMC, Cryptowat.ch and CoinCap.io, and I'm not really planning to add any more at this point since this covers everything I need: CMC lists every coin possible, Cryptowat.ch has past prices for most major coins on major exchanges with pretty good precision, and CoinCap.io has past prices for more coins but with worse precision.
 
All 3 can be used in two ways:
 
1. From the command line:
> cmcap bitcoin bitcoin @ 2018-07-12 16:52:37 +0200 ==> 6201.51 USD 
You can add -q to get just the value, if you want to pass it further to other commands:
> cmcap bitcoin -q | sed -e 's/\./,/' >> stats.csv 
For Cryptowatch and CoinCap you can also check historical prices (the precision usually decreases the further you go in the past, but it should usually be good enough):
> cryptowatch kraken btceur "2017-12-27 9:30" kraken:btceur @ 2017-12-27 09:00:00 +0100 ==> 13562.4 EUR 
CoinMarketCap doesn't currently have a public API that lets you check prices in the past.
 
  1. If you know Ruby, you can make all the same calls from code, and some more - e.g. for CMC there's a method to download all coins on the site sorted by rank.
    require 'cointools'
    cw = CoinTools::Cryptowatch.new result = cw.get_price('kraken', 'btceur', Time.new(2017, 12, 1)) puts result.price
    cmc = CoinTools::CoinMarketCap.new cmc.get_all_prices.first(10).each { |c| p [c.symbol, c.usd_price] }
 
Hopefully someone will find these tools useful :)
submitted by psionides to CryptoCurrency [link] [comments]

Bitcoin to $11,000 and coin market cap - YouTube $1 trillion is a conservative market cap for Bitcoin said ... Bitcoin Overview by CoinMarketCap - YouTube Not known Facts About How to Buy Bitcoin - CoinMarketCap ... How does Coin Market Cap Choose Coins & Tokens?

Bitcoin (BTC) info, quotes and charts. 5453 cryptocurrencies ... Market cap $ 239,215,919,104: 24h Volume (coin) 99,682 BTC: 24h Volume (currency) $ 1,276,282,752: 24h Total volume (coin) 542,529 BTC: 24h Total volume (currency) $ 7.00B: Last updated: 2020-10-22 13:10:10 +01:00 BST: ID Market Type Price Quantity Total; Date Price Volume; To embed real-time Bitcoin widget into your website copy ... Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins. Follow Bitcoin and your favorite alternative currencies. Track price, market cap, supply and trading volume. Bitcoin is the first decentralized cryptocoin ever built on top of a blockchain. It was created by an anonymous person or group of people with the nickname Satoshi Nakamoto in 2009 as an open source project. To understand the Bitcoin blockchain we can imagine a book, where each page number contains a signature that can validate the content of that page and its previous one. Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins.

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Bitcoin to $11,000 and coin market cap - YouTube

https://rebrand.ly/rawealthpartners3 Sign up Now Not known Facts About How to Buy Bitcoin - CoinMarketCap, how to buy bitcoin What Is Regal Assets? Regal Ass... On today's episode of Your Simplified Coin Review, we look specifically at ICOs and how they are added to Coin Market Cap. On CoinMarketCap.com, you will find a list of criteria by which coins or ... We've got our eyes on #Bitcoin this week! See how the oldest of cryptos is holding up. He's has seen his share of contenders, but will he stay at the top for... Bitcoin ( BTC ) has recently seen ample interest from a number of mainstream companies and persons, such as billionaire hedge funder Paul Tudor Jones . This ... Try watching this video on www.youtube.com, or enable JavaScript if it is disabled in your browser.

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