
Ethereum has gone up $30 within 30 days - suhail
https://www.coinbase.com/charts?ether30
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joshfraser
It's an interesting time in the crypto world. Bitcoin dominance has been
plummeting in the past few months. In January, Bitcoin made up 87% of all
crypto currency. Today it's 60%. Most of the movement has been to ETH, but all
of the alt-coins have benefited from the movement. Alt-coins now have a 15b
market cap!

[http://coinmarketcap.com/charts/#btc-
percentage](http://coinmarketcap.com/charts/#btc-percentage)

~~~
kordless
> Bitcoin dominance has been plummeting in the past few months.

Bitcoin's price is at an all time high. Please clarify what "dominance" means
from your perspective.

~~~
joshfraser
True.

In the crypto world, BTC dominance refers to the percentage of market cap that
is tied up in BTC versus ETH and every other alt-coin.

There's roughly a 36 billion dollar market cap of all crypto currencies right
now. 60% of that is in BTC. 40% is in Ethereum, Ripple, Litecoin, etc.

~~~
kordless
You stated Bitcoin dominance plummeted. My observation is Bitcoin's dominance
has increased, by way of it's increase in market cap compared to the fiat by
which it is measured, US dollars. Bitcoin's overall value, like any startup or
company, is determined by far more than it's comparative value to all other
cryptocurrencies, who's numbers are increasing with Bitcoin's value. It's like
saying, because new startups are being formed at an increasing rate to write
mobile apps, Apple's "dominance" in the market is falling. That would be a
flawed argument with Apple, and it's a flawed argument with Bitcoin.

That is especially true given Ethereum doesn't have a viable use-case anyone
is using it for right now, and most of the trading is simply speculation of
future value, which isn't really value, or a right to "dominance", whatever
that means when applied to speculation.

And yes, people can cherry pick numbers to rationalize their arguments, and
then vote down people who they "prove" to be "wrong" when the person is just
asking to clarify what something means because there is CLEARLY more going on
here than what meets the eye. I'm growing bored of the HN audience's dogma.

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kordless
For all of Ethereum's features, it has a minimal amount of moderate value use-
cases in production. I'm not talking about wishful thinking of future use
cases here. Ethereum has yet to find a killer use case to take it mainstream.
Although the DAO was suppose to be the big use case, all that did was expose
the fact the developers and leaders of the project are willing to fork the
chain to protect the early investors.

Frankly, it might as well be a Silicon Valley startup, except it doesn't have
to justify having good use-cases or adoption. Just keep the hype machine going
and it'll do well. If hype trends off, without finding a killer use-case,
well, I don't suppose it will matter much.

~~~
tgsovlerkhgsel
It already has a killer use case: Cheap, fast transactions. Regular, boring,
"dumb" transactions like in Bitcoin, but with an average of seconds instead of
10+ minutes to first confirmation, much lower fees, no congestion, and no
civil war.

Given that there is little hope for a quick resolution of the block size civil
war in Bitcoin, I'm not surprised that people are switching to alternatives.

~~~
geoah
> and no civil war

erm. ETH vs ETC anyone?

~~~
tgsovlerkhgsel
That's the thing - as far as I can see, there was a disagreement, they forked,
both forks peacefully coexist and hold significant value (ETC is worth more
today than it was before the fork).

There is no civil war with DDoS attacks, mud-slinging, exploiting
vulnerabilities in clients to crash the clients of the 'wrong' side, not even
a "majority hash power kills weaker chain".

~~~
kbody
There's not much code difference for now (when/if ETH pushes the PoS Casper
change that'll change).

As for civil war, see a complaint[1] of an ETH developer to SEC for an
Ethereum Classic Trust. I don't follow enough for other example, but I doubt
there's no hostility.

[1]: [https://www.sec.gov/comments/sr-
nysearca-2017-06/nysearca201...](https://www.sec.gov/comments/sr-
nysearca-2017-06/nysearca201706-149765.htm)

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Retr0spectrum
> Ethereum has gone up 59.8% within 30 days, against USD

Would be a more meaningful title for those who haven't been following the
price already.

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bdcravens
ETH is often exchanged paired with BTC, not USD. As the price of BTC has gone
up, so has the USD price. By that basis, it spent much of the past month down
about 20% and only recently got back to where it was in late March.

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nodesocket
The dollar amount is not really important. Should be what percent Etherum is
up in the last 30 days.

~~~
sscarduzio
This does not make sense, you always need to quantify the price of something
in some unit to compare it to itself in the past. BTC, USD, SDR, Kg of Gold,
you choose.

~~~
tgsovlerkhgsel
For stock, a percentage is typically given, because it doesn't matter what
dollar amount one arbitrary unit gained. What matters much more is "if I had
invested $1000, how much is it now". Saying that it gained $30 is meaningless
without knowing the previous value - if Bitcoin gains or loses $30, nobody
cares, if Ethereum gains $30, that's over 50% gain in value.

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monkmartinez
The only people that care are those that hold cryptocurrencies. I wonder what
that looks like in terms of percent of world's population. I bet it is
absolutely tiny... So we have the same crappy situation in cryptocurrency land
that we have in fiat land. Wealth concentration.

Meh, I am going to stick with the stuff that is backed by floating armadas,
gigantic planes/bombs/missiles, and Devil Dogs.

