Altcoins Are Ready To Rock
These private currencies with their centralized methodologies run diametrically opposed to the whole bitcoin ideal and have an altcoin systemically structured to be the opposite of the original crypto creation, which seems to me, at least, to be problematical. The only law in play is the so-called "law of code," the way distributed crypto coins regulate themselves by code and consensus, which is tremendously powerful when cryptocurrency is not centralized. Where there are resources there are predators and while they strike at the periphery of bitcoin like all the other crypto instruments, none has penetrated the blockchain itself.
Crypto coins following the outline of the bitcoin white paper are the coins I consider the core of the sector and the evidence for that opinion is in the numbers. If you take the top 100 of all crypto instruments, tokens, private crypto coins, distributed crypto coins, then bitcoin alone is 53% of the value of the whole arena. Bitcoin-like coins, the so-called altcoins, ones you can mine, are 73% of the total market cap of the top 100 instruments.
Here is a snapshot of trading volume totalized from a large cross section of exchanges as of April 21, 2019: Rank Coin Volume Market Cap 1 Ethereum (ETH) $100m+ 18,073,933,124 2 Litecoin (LTC) $100m+ 4,953,337,040 3 Bitcoin (BTC) $100m+ 94,094,517,703 4 Dash (DASH) $100m+ 1,080,048,665 5 Monero (XMR) $10m+ 1,165,528,074 6 Ethereum Classic (ETC) $10m+ 667,813,995 7 Zcash (ZEC) $10m+ 406,698,736 8 Bitcoin Cash ABC (BCH) $10m+ 5,255,054,445 9 Aeternity (AE) $10m+ 149,017,786 10 Ravencoin (RVN) $10m+ 184,342,051 11 Bitcoin Cash SV (BCHSV) $1m+ 1,029,907,982 12 Dogecoin (DOGE) $1m+ 413,491,645 13 Monacoin (MONA) $1m+ 69,661,972 14 Aion (AION) $1m+ 48,575,579 15 Groestlcoin (GRS) $1m+ 32,168,093 16 Elastos (ELA) $1m+ 58,456,873 17 Verge (XVG) $1m 130,914,527 18 Siacoin (SC) $1m 157,045,426 19 Bitcoin Diamond (BCD) $1m 206,566,541 20 Komodo (KMD) $1m 116,182,349 It’s a quiet Easter Sunday but it gives a fair view of the scale of the global crypto market. As cryptocurrency becomes more used, as they are fungible into bitcoin, the top coins will fill the need for coins in transactions and their price will rise. Distributed coins need to be judged on their code and ‘code laws’ while private coins and tokens need to be judged on the quality of their management.
