It’s been another wild week in crypto land as news came out about bitcoin’s rising dominance. During episode 72 of The Wild West Crypto Show, hosts Drew Taylor and Brent Bates seemed breathless from tracking bitcoin’s roller-coaster ride. Titled ‘Bitcoin Dominance Reaches 70 Percent’, the segment discussed how, once again, the cryptocurrency has fallen below the psychological $10,000 mark. Together with the decline in other major alts, including Ethereum, Ripple’s XRP and Litecoin, this has erased some $20 billion in value from crypto investor portfolios.
While the cryptocurrency market may be in the doldrums, bitcoin dominance – a measure of how much of the total crypto-market cap is comprised of bitcoin – has risen to 70 percent, a point not seen since April 2017. As a result, Taylor and Bates concluded that bitcoin is likely to survive the shakeout and consolidation coming in the cryptocurrency market.
This week’s show also featured guest Eryka Gemma Flores, co-founder of the Blockchain Center Miami. The Blockchain Center, an incubator, event and co-working space, opened in June with the goal of educating developers, entrepreneurs and investors on blockchain, cryptocurrencies and digital assets. “We want Miami to be the best-educated city in the world when it comes to this technology,” Flores, who is also CEO of the center, told the hosts.
Bobby Ong from CoinGecko also appeared on the show. CoinGecko is a cryptocurrency-ranking and evaluation site that analyzes quantitative and qualitative data and compiles a number of different metrics. Data analyzed includes number of Twitter followers and Reddit subscribers, the extent of the coin community, the cost of a 51 percent attack, the number of developers working on the coin and much more, providing an overall score for the coin and a rating for each category.
During his regular weekly brief, Jonathan Keim, director of communications at CryptoCurrencyWire, had a trio of fascinating developments to report.
Dolphin Technologies has created a main-net and digital currency called Mobilio, which holds the promise of reducing traffic accidents. Traffic accidents are the most frequent cause of death worldwide for people between the ages of five and 29, and, in a quarter of such accidents, mobile phones play a part. Typically, efforts to prevent drivers from using their phones while at the wheel involves the threat of punishment, but the Mobilio approach is carrot rather than stick, with drivers being rewarded with Mobilio tokens when they refrain from using their phones.
Keim also shared the latest news on CheapAir.com, which is partnering with Bitcoin.com. The collaboration will allow the more than four million Bitcoin.com wallet users to access CheapAir.com’s booking engine from the mobile app. CheapAir.com is an online travel agency that, in 2013, began accepting bitcoin payments for flights and hotels. The company now accepts payment in Bitcoin Cash, Ethereum, Litecoin and Dash.
He then completed his roundup by announcing the launch of Studio, a program to support the launch of new projects and use cases on Ethereum Classic. Studio facilitates the development of decentralized applications (dapps) and the execution of crowd sales. In addition, the program provides project-management tools for businesses seeking to deploy on a public, proof-of-work (PoW) blockchain.
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