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Effectiveness of fork dilution attacks (a cursory examination by 24hr volume)

Since someone brought up the argument against Bitcoin Cash that "Satoshi didn't envisage hundreds of Bitcoin forks", I felt compelled to look at the market data to get a feel for the economic significance of the other forks.
Just looking at coinmarketcap.com 24 hour volume, searching for "Bitcoin" (I know this is very approximate and may include some false hits) - here is the data for those coins, sorted in descending order by share of volume.
Coin name // 24-hr-volume-in-USD // Percentage-of-total-24-hr-volume-of-the-"Bitcoin"-set
It's immediately apparent that BTC + BCH together make up more than 99,75% of the total volume, and while BTC had ~14 times the volume of BCH in the last 24hrs, BCH had ~41 times the volume of the next-biggest fork (BTG).
My point?
Despite still being valued in tens of dollars in some cases, the other forks together have < 0,25% of the volume. They are effectively irrelevant unless you are a speculator.
NOTE: I've only looked at the last 24hr data on CMC, with a very loose query. Judging by this other post, there must be a lot of variance in at least BTC vs. BCH volume, with some days where BCH volume is significantly larger in proportion than the figure I got above.
submitted by LovelyDay to btc [link] [comments]

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