Dominance and Robbery, the money game of btc dominance (keep updating)

Before any accusation, let’s see something really intersting on chart.

First is the big crash in 2018. As you can see, the bitcoin Dominance reached an all-time low around 40% on Jan 6, 2018. And many altcoins reached their peak at this time. Then the market crashed. During the long crypto winter and after, the bitcoin dominance keep rising.

And the recent pullback in September 2021. When the D close to 41%, the price dropped sharply. Then the price rises again with the D. The same pattern also appeared in the pullbacks on Sep 1, 2020 and Nov 23, 2020. I will share charts later, if I have time.

This one is different. In the crash on May 19, 2021, the price and D fell at the same time (bitcoin lose more than altcoins). And here comes the key information: the cause of this crash was China’s mining ban, and most of the bitcoin mining used to be in China before that.

So now we can know the ugly fact that when miners are directly hit and temporarily lose the energy for market manipulation. Altcoins would not loss so much more market cap than bitcoin in a correction.

Not long after, right before the September 2021 pullback I mentioned above, most of the Chinese price prediction groups on WeChat were full of rumors about ‘whales selling off’. It is extremely rare for them to predict such level of correction so accurately. Also, founders of these groups have a well-known good relationship with local miners. It’s just a Chinese way to make retail investors trigger a long squeeze and spread fear to whole crypto market, resulted in a significant rise of D.

I am Chinese and I know lots of Chinese millionaires are obsessed with their money game ‘割韭菜’ and have no vision for the future. It’s shown on chart. Chinese retail investors fail to get correct and complete information, they choose to trust unknown people claiming to be experts in various groups on Wechat, ‘DYOR’ is not popular among them. This makes them extremely vulnerable to massively targeted rumors and eventually become puppets in the crypto market. Turning themselves into tools for increasing price volatility and disrupting long-term value investing opportunities. After the Chinese government cracked down on crypto trading in Dec 2021, Chinese retail investors have significantly decreased. This leads to a weakening of the price relationship between bitcoin and altcoins, which makes the manipulation of D become a little less effective.

This is robbery. For any progress in the blockchain industry, defi nft or others, miners have zero participation. But with the manipulation, they can always maintain btc dominance to rob in every bullish cycle and others cannot get the reward they deserve.

Following the point about D manipulation, you can found the same traces on the January 2022 chart. 3% of the total crypto market cap was robbed.

The situation has not changed much at the moment, about the roles I mentioned: According to reliable information, Chinese miners have now transferred equipment to South and North America; Chinese retail investors have decreased but they still have a lot of ways to trade; Also those price prediction groups on Wechat are still active.Well miners from other countries won’t tell us whether they joined the gang or not.

With those Chinese miners, btc has seen few technological upgrades since that controversial hard fork. Because it is not necessary, as long as they manipulate D, they can starve the altcoin projects that carry out technological innovation and easily win. Even if someone wanted to, do you remember how many miners in the so-called community were strongly opposed to Ethereum’s upgrade proposal?

This is extremely harmful to the crypto industry, both altcoins and btc. When Satoshi’s prototype finally fails to maintain its Dominance, they will soon dump all their holdings and crash the entire market. If you believe crypto is the future, then all they do is DESTORY OUR FUTURE.

Same as May 2021 I mentioned above, the price and D fell at the same time (bitcoin lose more than altcoins). And also the cause of the crash is outside the crypto world: the rate hike. Meanwhile in China, the COVID-19 lockdown in several cities has led to the bankruptcy of small and medium-sized enterprises and layoffs by internet giants like Alibaba. Funds from Chinese retail investors are further reduced, the ‘tools’ to spread excessive panic are lost which makes the manipulation of D is close to total failure.

Also like I mentioned, if those Chinese miners decide that the D can no longer be maintained then it’s possible that they will dump all their holdings.

sol will recover…it might take a few months but it wil

Will SOL and several other valuable new public chains recover? Yes. But as long as those miners can maintain D, you can be crashed, robbed and starved again at any time they want.

Some thoughts:

1.Many people once agreed that the price of btc would reach 100k. This prediction was made when btc dominance was at 65%. When the btc price was at 69k, the D was at 45%. The simple calculation: (100k×supply)/65%≈(69k×supply)/45%. So I think the 100k btc theory accurately predicts the total market cap of the crypto market and shows us the importance of maintaining the D to miners.

2.Miners, mining groups or ‘pure bitcoiners’, they can just crash altcoins and leave others guessing why. It is in their interest to bind the concept of blockchain, cryptocurrency, btc and POW mining. They don’t even want the outside world to know the existence of altcoins or other choices. People like well-known developer or CEO of a big company directly spread rumors attacking other cryptos, which means that the fake and fragile number one of that prototype is about to collapse.

3.We are going through the same process as 2000 and the alts/btc direct trading should be cancelled. You can’t imagine if Amazon’s value was measured by the count of domains.