Most newbies will just go to Coinbase or Coinspot and buy say Litecoin. They don't touch exchanges, so have no need for Bitcoin to exchange one to another. Most people will not do what we do. Also Bitcoin will not be the only main trading pair coin forever. Most exchanges already have more then just Bitcoin now.
Yeah I get all that, but BTC is still like the World crypto currency equivalent of $US fiat for now and it also far outstrips any of the others in trading volume each day. I still think think there is a loong way to go before the sun sets on bitcoin, and with the total MC of all crypto still a bees dick in comparison to other asset classes and major mainstream financial institutions climbing aboard seemingly every week now, still a lot more room to grow as well.
I don't think the sun will set on Bitcoin, just didn't like Ronnies reasoning. I do think we will continue to see what we are seeing now and Bitcoin % of total market cap will get smaller and smaller.
Question Gents - With the influx of new investors wanting a piece of the Bitcoin/Alt Coin action will they be: (1) Attracted to the likes of Bitcoin Cash & Gold simply because the are of the Same Family so to speak. (2) Given the cost in comparison to BTC find it more attractive regardless of it's technology? Thanks SM
Probably yes to both SM, but in saying that they may also dump it just as quick for the next Too Da Moon thing on the ever expanding list.
Yes and also yes to what Southerncross said. It seems the most recently added crypto on a big platform like Coinbase gets pumped for no reason other then it's newly added and cheaper then Bitcoin. The trick is to find out what new crypto Coinbase will add before they add it and buy buy buy. It's a crazy world.
Melbourne man’s $15m bitcoin gamble "SAM Karagiozis describes himself as a hustler." "At an estimated cost of about $15 million, he claims, Mr Karagiozis plans to roll out the first ever nationwide network of bitcoin ATMs." read more at: http://www.news.com.au/finance/mone...e/news-story/7ba6554077b286ada0948255d7b70872
Just had a look on Bittrex and EVERY alt is showing positive gains (lowest was SLS @ 2.9%) Don't think I've ever seen this before...
You can imagine what the end few weeks will be like. The whole pool of money in crypto will all be trying to exit through bitcoin. It’s going to explode way past anything you’ll think reasonable
Some snapshot figures from past few months relating to 24hr market volume for top 20 crypto exchanges. (Almost 12x in approx 5 months) All data retrieved from coinmarketcap.com 6 July 2017 Total: $2,141,662,633.00 Avg: $107,083,131.65 15 August 2017 Total: $4,054,963,202.00 Avg: $202,748,160.10 23 August 2017 Total: $4,721,276,370.00 Avg: $236,063,818.50 17 November 2017 Total: $9,957,058,789.00 Avg: $497,852,939.45 7 December 2017 Total: $16,238,828,969.00 Avg: $811,941,448.45 13 December 2017 Total: $24,386,873,651.00 Average $1,219,343,682.55
