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RE: Bitcoin dominance is a metric of crypto failure, not success

in #bitcoin6 years ago

Small markets mean a lot of speculators

That dilutes the market severely. Nothing wrong with smaller altcoins but small market is just a bad metric that can be manipulated. I would say the top 100-200 cryptos would better represent the market.

Bitcoin is a dinosaur in the cryptoworld.

It might be old but that doesn't mean it not scaling. That a pretty ignorant statement. Maybe Bitcoin scaling is not as good as the newer ones or maybe it better. But it trying to scale too. It scaling methods if works can reach millions to billions of tps.

Its basically bitcoin backers saying:"You cant use it for much, it has severely limited potential, but please buy it and hold it in your account, it will raise in price".

They not saying that forsay-the scaling method partially plays the role in that.
The base layer is SOV and other layers are method of transportation,

The steam engine is still used today just in different forms. It history but also not history. Steam engine evolved and stayed with us and bitcoin can do the same.