Beware of altcoin flavors of the month, Bitcoin drama day, Coinbase, BTC dominance chart


Hello everyone this is adam meister the
bitcoinmeister the disrupt meister
welcome to today in Bitcoin today is
March the 13 2017 this is the home of
cryptocurrencies pray talk no fancy set
our graphics just information hey I hear
it’s going to snow on the East Coast
that’s why I get out of the country and
I’m in Portugal hey thanks for the
Bitcoin you know who you are that was
very generous thank you hey I will chat
with you guys after I see you guys are
in the chat right now hello Josh hello
Jason everyone that’s in there and i
will be there at the end hey uh there’s
lots of material to cover today I have
so much there’s extra for tuesday so
wednesday at 11am giant bhandari will
return to the show some marker calendar
wednesday at 11am eastern standard time
hey I link below to the wealth research
group I was just on their show I linked
to sunday show uh and I had to do two
shows yesterday the first one the sound
was horrible and then i just made a new
one afterwards that’s how dedicated I am
to this I love you all but both of them
are up there just watch the second one
now the Hawaii show I want everyone to
check that out too that’s linked to
below so today was a day of altcoin
madness just madness I mean you saw
those prices go wild and I know I sound
like a party pooper some of you I’m just
not impulsive okay you can’t be
impulsive in and jump in on some of
these things you’re going to get burnt
buy-and-hold Bitcoin think long term
2020 anyway I mean some examples of the
craziness of today the etherium trading
volume was 250 million dollars I mean
that’s above what bitcoin is on some
days just crazy and I keep on hearing
people on this channel and on other
animals in the comments section dash
will pass Bitcoin calm down people calm
down people I mean you’re talking about
dash being worth just think long-term
basis you know there’s some stuff going
on these last few weeks that doesn’t
mean this is what it’s going to be
happening in 2020 so Samson now has an
interesting tweet that I linked to below
it’s about a segment it’s a pole did you
know that segment once activated could
generate up to 4mb blocks and lower fees
hmm I didn’t know the 4mb blocks so uh
Vinny lingham also has been in the
twitter news uh he’s got some wild
tweets out there today he got a little
dramatic I guess I’d link to his Twitter
feed below i’m going to link to specific
tweets of his true that i’m going to
address but he is basically saying that
there is currently in the crypt of space
an altcoin bubble now is that that
outrageous to say guys now the way he
said it might have been a little over
the top and i think he got some people
angry or confused but yeah there’s an
altcoin bubble right now uh reminds me a
little bit of the 2014 there was all
sorts of alts being pumped up we’ll talk
about that and there was a great he
retweeted a tweet that talked about how
yet you know things have gone wild like
namecoin which is like close to being a
dead coin was up an insane amount today
thank come on let’s think logically your
name coin so uh athyrium finally you
know this there’s people out there like
etherium classic and litecoin they’ve
got their fans and both these fans can
kind of get down sometimes especially
the litecoin guides so both those coins
had spikes today so they’re joining the
party aren’t they is it is there a real
reason though um the
joining the party this is litecoin segue
close to being passed more no it’s not
snow nothing’s changed there are there
is no real reason it’s shyra sheer
speculation on both of them so again
they just joined this party of wild
price is going up I mean they all every
one of them could lose all the value
that they’ve gained through all this
stuff um manera also went up so they’re
all going up and I want to be clear
about this okay this is going to end
very badly for many people just like in
2014 with quark I mean think quark
people don’t think about altcoins about
to hit a hundred dollars think quark
some people are gonna come out okay with
this okay maybe some all coins will stay
okay but today they all all coins in it
I’m not talking about just the top seven
they all were going wild number 28 I
mean just ran the ones you can pick
we’re going wild think quark here this
is not don’t don’t jump into these
things that you have no idea about just
because oh that one looks hot and I
don’t think anyone’s noticed that one
yet so it was about to go up a hundred
percent good please just don’t you
people are gonna get hurt and I know a
lot of you are impulsive don’t be
impulsive um the Bitcoin dominance chart
I linked to below and so big point
dominance has gone down from around
eighty five percent it was below eighty
percent at one time today and this is
partially I mean obviously because of
all this craziness but part of the
craziness is the unprecedented double
specs but I mean a spike in two major
altcoins at the same time dash and
etherium are have really gone up and
they are two of the major altcoins I me
their number two and three and during
the 2016 athyrium spike the the Bitcoin
dominance actually went a little bit
lower
but if this all coin irrational
exuberance continues and a third major
one spikes we’re going to get close to
seventy seven percent or 75% Bitcoin
dominance but do you realize how
tremendous 75% still is for one coin to
dominate 700 others and how easy bitcoin
could get back to eighty-five percent if
there was a Bitcoin spike let’s say
based on something logical die don’t
like insanity here athyrium by the way
is about ten percent value of the total
crypto currency market cap and as a rat
it might be a little bit above ten
percent now and dash and as others have
pointed out with most altcoins you use
Bitcoin to buy them but etherium is not
part of that group so you can use
dollars in the United States to buy them
easily so that’s something really keep
in mind dash is a 2.25 percent of the
market cap and then there’s you know a
couple others that are one percent of
the entire crypto currency market cap
and then the rest is just I mean when
you’re comparing it to like eighty
percent with Bitcoin but still the
etherium is the only one over a billion
dollars in market kaveri now say it’s
over two billion dollars so a theory of
fans have some arguments here but they
have some legitimate arguments about
their coin being like standing above all
the others other than big coin and I’ve
said for a while they’re people who want
it to be the next Bitcoin I mean there
are corporate types out there so is that
helping fuel this helping sustain this
um we still have not hit the proof of
work first proof of stake I mean scandal
i’m going to say where a theorem is
going to eventually switch to proof of
stake people don’t even understand that
yet and that possible switch which will
be in the future will be a true test of
etherium i mean
mean at least you have some warning
before that happens too and again let’s
see how high dashes in price again
everyone look how high dashes in price
right now and that momentum the dash
feels like it has athyrium felt better
than that pre fork just just just you
know put it on perspective here I know a
lot of you weren’t even around in 2016
but the way that the dash is going right
now all these people going wild over
saying it’s gonna be the next big coin
that is how a theory about it felt
better pre Fork back in 2016 and the
potential I mean it it that way it could
be point one big coin back then I mean
it was wild and if Bitcoin hits three
thousand dollars this year moving on
here if Bitcoin has three thousand
dollars this year will be other coins
keep up no I don’t think they will I
will it still only be at eighty percent
dominance no I no no no it’ll be higher
it’ll be back to eighty-five percent if
it hits three thousand dollars think
long-term people if you believe big coin
will be ten thousand dollars around the
Year 2020 and I’m not saying it will
then you really think all these all
coins can keep keep up do you really
think that do you want to be stuck with
the wrong one I mean this this you do
not want to be stuck with the wrong one
here okay so let’s move on to coinbase
some people brought that up coinbase if
you move big coin there any amount
coinbase the coinbase account if you
have a friend who has coinbase and you
send your Bitcoin to that guy from your
coin basic out there is no fee they
point base does that off chain now does
this coinbase send for free coins from
inside coinbase to outside people
without a miner’s fee I I have not done
that for a very long time it said they
they say on their site and i will link
to this it may charge miners fees and
again it’s been a while since I
I don’t remember so but but let’s go
back here the status quo and bitcoin
with these rising minor fees um
encourages people to use coinbase to
coinbase to avoid the fees at the very
least so the status quo benefits
coinbase currently and this is something
people have not talked about and
coinbase is a major player in united
states so the longer we have a status
quo and these peas keep going up there
gonna be more and more people getting on
coin based in just sending coinbase to
their friends through coinbase which i
guess is good for coin basis they want
more customers and I have said it before
I will say it again I predicted that in
2018 a while ago previous we would have
a surge in young guys just getting the
altcoins and just trading and pumping up
the price of all coins and a it looks
like it’s come early that that
prediction I mean it looks like it’s
that’s what’s really going on here going
back at all coin subject hey if you like
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growing thank you so much every everyone
so a link to one of these vinny lingham
a quote of one of these controversial
vinny lingham post tweets danger on the
horizon if bitcoin forks all bets are
off and we can kiss three thousand
dollars bitcoin in 2017 goodbye and he
later clarifies that you know he’s
frustrated with this altcoin bubble also
okay so he’s not in the best mood here
he’s just he’s tired of the drama of the
of this segment and big point unlimited
thing and how some people think it’s
it’s good to end up with two bitcoins
and he and he just made a be made a
little bit of a drama out of a big deal
out of it but i want to say one thing
Shane the independent optimist who will
be back on our panel shows soon enough
um he sent me this andreas antonopoulos
tweet which I will quote I don’t expect
a hard fork and I’m not worried about it
but the chatter seems to be making
people nervous if you hold like me it
doesn’t affect you all right so don’t
worry about this hard fork thing I mean
Roger there has scared some people you
can give him credit for that one
whatever that it means just drama drama
alright so let’s let’s avoid the drama
some entities like so many of these in
the Bitcoin media the ones who write the
articles and stuff they had incentive to
stretch out this Bitcoin unlimited drama
thing and just kind of exaggerated it it
just get clicks for their sites as
Andrea said bitcoin bitcoin unlimited is
not going to happen it’s not as likely
to happen to some make it and when some
people start worrying about it publicly
on Twitter they really start to scare
people and you just it’s like it’s a
cycle of anger drama and I think Vinny
wants to reinforce that this should
never happen this just a Bitcoin limited
should never happen with all of his
tweets and that he’s tired of the drama
and at the same time he doesn’t want an
altcoin bubble but is it will it will
hurt the Bitcoin name also if there is
an altcoin bubble it hurts Bitcoin Q
because people like all those other they
all dropped in value and what’s this
cryptocurrency it’s nonsense yeah it’s
all a shell game so an all coin bubble
popping combined with Bitcoin unlimited
emotional hysteria it’s just a nasty
combination it’s a nasty combination so
i’ll leave you with that note i’ll join
you guys in chat i’m adam meister the
bitcoinmeister the disrupt meister
please subscribe to this channel like
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word check out the
no section below for important links to
everything that I talked about that was
a Bitcoin today I will join you in the
chat now bye bye

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