Hello community.
Recently I started mining highest value alt-coins with hashcowz. The pool can auto trade alt-coin to BTC for you. My question isn't about pools though, but about trade value.
If I'm trading LTC for BTC and then BTC drops value, is my LTC worth more BTC?OR
If I'm trading LTC for BTC and then BTC drops value, does LTC somewhat proportionally drop value?My introduction to the community:
I started mining about 6 months ago. I did the BFL jally thing and went through all pyschological stages up to acceptance, lol. Now I'm trying to see what else there is besides simple mining and trying to get into trading with small initial funds and a few decent devices. I would also love to be able to reply in other sections mods/admins
The entire Altcoin market valuation is based on BTC valuation. However, at any time some coins go up and down with respect to BTC.
So, if Bitcoin goes down Litecoin will go down as well, unless there is a huge buy interest in litecoin that compensates for it.
Litecoin, although not much, has grown much stronger towards BTC over the past couple of months and even in comparison to the recent spike. Litecoin, in terms of percentage, grew stronger and higher in the spike than BTC did. It wasn't much more but it did.
The cryptonomics are pretty neat. I think the popularity of LTC will grow stronger towards BTC over time because BTC is starting to get out of reach from non heavy investors. LTC may eventually be like that, but for the near future, people ditched their cards from BTC to LTC where they became more useful. ASICs may take over scrypt eventually, but for now LTC seems to be growing fast.
i do agree that the popularity of BTC will fluctuate the rest of the coins, but it shouldn't halt a slightly quicker growth of them.
