The bitcoin dominance. What will this Aug 1st do to our cryptosphere.
One reason bitcoin's volume is so high is that the vast majority of altcoins only trade in terms of bitcoin. If I want to buy $200 of Dash, Komodo, etc., with dollars - then I have to buy $200 worth of bitcoin, then trade the bitcoin to get the altcoin. Bitcoin gets $400 of trade volume for a $200 alt-coin trade.
Coinbase has branched out to Eth/litecoin and now
that there are now places like Kraken where you can go straight from USD (or other fiat) to Dash, never touching Bitcoin. Bitcoin is rapidly losing its "reserve currency" status in the cryptosphere.
So with the upcoming fork, where do you believe bitcoin will end up? What I am hoping for lower transaction fee's and faster time. I hope there won't be a bitcoin classic or lite. I don't know how that will affect my other investments.
But when this dust settles, bitcoin will still be the alpha coin.
