york780
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile Personal Message (Offline)

Ignore
April 28, 2017, 08:11:48 PM

BTC dominance over alts down to only 62.7%. It was around 68% just a few days ago...

and.....

Frequently this point is raised as if it were some kind of earth shattering revelation, and in the end, it does not seem to be a major point, right?

Let's assume hypothetcally, that Ethereum or one of the other coins takes a real major dominance over bitcoin - for example Ethereum may be one of the best  examples.  Let's say that Ethereum 10x from here, but Bitcoin stays the same.  Then Ethereum would have about a 2.5x market cap higher than Bitcoin - yet what does that tell us about the fundamentals of Ethereum - Ethereum still would have a lot of it's same fundamental flaws of centralization, no, and lack of security, no?

I will concede, that it would tell us that there is a lot of money going into the Ethereum space - but so fucking what?  Governments and banking shills have all kinds of money that they are able to spend to attempt to undermine bitcoin with various smoke and mirrors, vaporware and distractions.
True. We need to hold our bitcoins, Ethereum is a distraction for our coins.