It doesn't prove anything. In fact, Luc was right about a new ATH, just not the height. It's only down from here until the coin forks.

If not for core's failure to avoid a blocksize debate (by phasing in the blocksize increase like satoshi suggested 7 years ago, and working on SPV clients instead of pushing SegWit) we would have easily been at $10,000 right now.

But instead all the money that was supposed to flow into bitcoin flowed into alcoins instead, dropping bitcoin from a 95% share to a 65% share of total cryptocurrency market share.

Well, market cap is still above 2013. https://blockchain.info/charts/market-cap?timespan=all

Still this is pretty nasty, and I hate to see money flow into ETH.

Yes, Bitcoin is doing great. Saying we would have been at $10,000 or whatever if this or that didn't happen is just speculative nonsense, maybe we would have been at $100 now because of some other issue coming up as a result of taking the other direction. Who knows. All I know is we're still nicely building that handle after the massive cup&handle pattern that has been forming during the past 3+ years. Ethereum and other alts won't matter once we see the real breakout in Bitcoin, they can have their primetime now while Bitcoin is building up momentum for something much bigger. Patience.

crackeths vapes flying high.

Of course the market cap is bigger than in 2013.

In 2013 99% of humanity didn't even know what cryptocurrency was.  

Now, cryptocurrency is booming, but bitcoin is almost unaffected by the boom.

It should be leading the boom and thriving from it, but instead, it's barely even noticing it.



If you only start to invest in ETH after this has changed, you'll be left behind.

Once the flippening starts, it will be fast and brutal.

The only thing bitcoin has going for it right now is the brand name and the network effect. It has been riding on that for about 2 years. How long do you think it will be able to last?

Intersting theory,but crypto is booming Bitcoin is still the biggest by far. It has the biggest community by far, huge mining farms, worldwide attention, investors have discovered it. It has the worldwide press on it, and adoption is still increasing. So Bitcoin will continue to grrow for a while if you ask me. Its the mother of crypto. If bitcoin fails, it is most likely that 80% of the altcoins are going with it.

And what you are seeing now are people betting on what makes up the 20%.

Really good points. Point 3 has also happened when i wanted to sell my coins. They mailed me that had to prove where the coins are coming from, and i said from an another trading tradingside. They dont believe me and blocked me from their exchange. There are already many better crypto's available than bitcoin. Crypto's with smart contracts (Ethereum), crypto that are 100% anonymous (ZEC, Monero etc), fast crypto ( Ethereum, Creditbit). But still Bitcoin is n1. We must be all idiots that are believing in a moon fairytale if we keep using bitcoin while we know that there are better cryptocurrencies.

But they dont have support on hardware wallets, lots of exchanges, marketing etc. Its hard to take that away from Bitcoin. Bitcoin is quite lucky that is was the first crypto around.

Bitcoin has liquidity going for it due to the network effect, once it loses the liquidity advantage to something else its days might be numbered as champ.

ETH is gaining quick and although its not meant to really be used as currency if the liquidity is there no reason for people not to use it.

If these issues dont get resolved soon BTC might go the way of the dodo bird and even if it gets resolved it still brought these ugly issues to the surface illustrating its governance risks.