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Comment by rawtxapp | Hacker News Reader

Bitcoin dominance always goes down in altcoin season and then comes right back up.

I was a 100% bitcoiner 2014 to 2020, but after exploring defi and L2 projects in pipeline, i decided this time is different and converted to eth. That's just my opinion.

To me, it's like gold=Bitcoin, I can fully trust it and know that it will be here in 100 years from now, functioning just the same and that my wallet from today will be perfectly functional, and oil=Ethereum, it's an awesome platform that allows me to run a variety of different financial operations with different assets (including Bitcoin), but it's much more nimble, things are a lot less set in stone and I frankly have no idea what it'll look like in 100 years from now or even if it will still be the dominant defi platform.

A parallel is like, today we only have 1 thing that's gold and many banks/financial institutions that provide variety of services. All these institutions combined are worth a lot of money (the largest banks combined have roughly ~2T$ in market cap[1]), but gold market cap is like 11T$.

Just my 2 cents, I own both and hope both succeed.

1: https://www.statista.com/statistics/431751/leading-banks-usa...

But do you hold BTC or WBTC? Among people I know, actually havinf a BTC wallet is pretty rare.

The ethereum ecosystem is just so rich that there's no reason to leave it, well, maybe bsc and solana, but that's it.

Meanwhile, crypto indexers beat Bitcoin maximalists. But, the evidence for indexing performance will never see the light of day . :)

Not sure what you mean by crypto indexer, you mean people who buy a basket of crypto? Sure, in the short term, they might outperform BTC, over long term 70% will die, 90+% won't recover to their ATHs. If you indexed back in 2017 into top 10 coins, only like 3 of them crossed their old prices from 2017, rest are as good as dead.

Usually you'd rebalance periodically.

Seems like stuff folks say in a bubble. 90% of it will disappear once ethereum fixes this/that.

Where did you get these numbers? I assume this is a post-hoc rationalization?

I mean you can pull up the numbers for yourself if you don't believe me, people have also done the math themselves [1][2].

1: https://preview.redd.it/c21qium7jyr61.png?width=1113&format=...

2: https://www.reddit.com/r/CryptoCurrency/comments/mmstrt/i_bo...

This is useful. Good numbers. Thank-you.

>But, the evidence for indexing performance will never see the light of day . :)

Why not? If such evidence exists why aren't you presenting it?

You'll note that my comment was downvoted. This evidence is immoral. Thus, it won't be aired.

You can go to pandaanalytics.com if you'd like, and play with their index options. See what strategies have worked well. (I weight by market cap, top-10, no stablecoins)

Your comment was downvoted, likely due to claims with no evidence but instead a story about how you're about to be silenced. You could've just posted something to support your position instead and we'd skip all the drama in this exchange.

Is this really drama? I don't actually care if I'm downvoted. People will always upvote iced cream, and downvote brocolli. It's not hard to see that, or understand why that would be the case. Mostly I find it funny.

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