Before we go into SLOG 3, I wanted to share this graph available in Coinmarketcap which shows the Share of Market Cap by each crypto currency. So I'm going to add a SLOG 2.2 for that.
Link to graph here
This has led to a market split, where Bitcoin passed from having almost 100% of the market cap back in 2013, to less than 38% today. Ethereum is the second runner up with a bit more than 31%, followed by Ripple.
Bitcoin market cap is still increasing, but the market is growing and other players are taking market share from Bitcoin. Ethereum, Ripple, Litecoin, NEM, Dash are some of the most prominent, but there are seem to be more to come. These newcomers are providing some solutions to the problems that Bitcoin is currently facing, such as its transaction speed and fee cost, among other things.
It's still to be seen how this plays out. It is still unclear to me whether Bitcoin will be overtaken by the newcomers, or if they will be able to coexist and grow in parallel.
If something else comes up regarding this topic I will add it as a SLOG 2.x. If nothing else comes up regarding this topic I'll move on to SLOG 3: how to buy Currencies and Assets.
I hope you enjoyed this SLOG and found the information useful. Please leave your thoughts about this topic in the comments section below. Remember I'm still learning about this ecosystem, so if you think something is incorrect, or you would like to add something, please do.
If you'd like me to research a specific topic, please leave your comments in the comment section below.
