You imply that Bitcoin dominance might not start rising again, quoting Andreas that due to the high fees and long processing of transactions, there are not many reasons for it... but what about the Lightning network??
There are people who already set it up. It's working, it's right there, within the reach of our hands. If we can actually start using it to purchase things, which is in foreseeable future, there will actually not be many arguments left against the Bitcoin dominance. Because, let's admit it, vast majority of altcoins are pure Sh*tcoins, only rip-offs of Bitcoin with very little added value, used only for speculation...
(disclaimer: I actually haven't set up a lightning node, just thought this sticker is funny.)
The sticker is great.
I'm not into the true tech behind any cryptos. I'm just speculating/investing in the next big thing.
Almost as important as "don't invest what you can't afford to lose" is "keep your sense of humor when it all goes to sh!t".
Regards,
Rick
Lightning is a tech nerd solution, not a real world one.
Bitcoin was originally a tech nerd solution as well.
Bitcoin dominance is a matter of perception rather than reality, so who knows what happens with it. I'm sticking with my initial idea that it recovers to 50%, but this crash and lack of recovery in dominance came as a surprise to me. I've mentioned previously that Lightning could one of the catalysts that sends dominance back up.
I might have not been listening carefully enough... It just always seemed to me that anyone who mentioned Lightning didn't really take the possibility of it actually working seriously. Now I realize it's not a question of it working or not, it's the question of people trusting it or not: as it is with everything else within this weird market.