Bitcoin should NOT determine the market - page 13.

Direwolve735

full member

Activity: 448

Merit: 232

Quote from: adamantasaurus on June 03, 2018, 09:06:11 PM

I really really love crypto but I think it is not a good thing that the price of BTC determines what the entire market does. I feel like there should be something done that makes the crypto market more decentralized where the price of BTC doesn't swing the market up and down there should be some sort of better system put in place otherwise we are just creating a system that is just the same as the current fiat system we have where the most "trusted/valuable" asset determines the entire market.

Just some thoughts, what do yall think??

I understand what you are talking about and I agree that bitcoin shouldn`t determine all other crypto currencies in the market. However, you are talking about how it should be, and not about how it is today. And the reality is that bitcoin determines and directly affects the course of altcoins. It seems to me that this is due to the prejudices of people who are used to focusing only on bitcoin, to consider it to be the main one. The problem is not in a centralized or decentralized system, but in the fact that in the minds of people the perception of bitcoin should change and bitcoin should no longer be recognized as an unprincipled example, to which everyone must be equal, without taking a step to the left or to the right.

classictee

jr. member

Activity: 238

Merit: 1

https://eloncity.io/

It will always determines since all ALTCOINS was pairs with bitcoin in trading, calculations ,it will only reduce if a token like tether can be implemented fully by all exchanges..

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

The main cause is the exchanges and their users.
There are Bitcoin - Fiat exchanges, there are altcoin - bitcoin exchanges and a very small number of other pairs, usually with extremely low volumes.
Just check the exchanges what offer pairs based on Ethereum, Litecoin, Monero or others. Most of them have disappointing volumes. Most of the money flows into Bitcoin most of the altcoins are transacted for Bitcoin. And then you wonder why Bitcoin affects everything... well, I did wonder too, long years ago. I tried to promote altcoin pairs not based on Bitcoin. Too bad, almost nobody uses them.

Aponkye1

member

Activity: 336

Merit: 10

It is disturbing when bitcoin shows its dominancy and supremacy over altcoins and brings it all coins down but what can we do because it is the king of all cryptocurrencies.

Argoo

sr. member

Activity: 2464

Merit: 252

Quote from: UserU on June 03, 2018, 09:39:33 PM

It's because BTC dominance is still remains pretty high at nearly 40%. BTC/ ETH are still the major pairs to trade other coins.

If more exchanges were to support fiat pairings, then we might see a change in trend.

I agree with the statement that bitcoin should not determine the price movement for the rest of the crypto currency. This is wrong and in fact testifies that we do not have any free crypto-currency market. If everything depends on the dominance and level of bitcoin capitalization, I'm for the value of bitcoin among the crypto currency to decrease to reasonable limits. I think that in a few years it will be so. We see that bitcoin now has big problems, it simply can not improve quickly, which means that over time it will lose its popularity. Maybe it's for the best. The market, all the crypto currency, should have equal conditions for development.

boy130

sr. member

Activity: 616

Merit: 263

The fact is, the strongest currently always leads the way for the weaker ones. Right now, the strongest crypto is Bitcoin because it has by far the highest trade volume, is accepted on every single exchange, and is the default currency. There always has to be a base currency, whether it's USD or BTC, you can't trade unless you use a base.

r32godzilla

hero member

Activity: 1361

Merit: 506

It's mainly because bitcoin being the pioneer and all the altcoins are being valued based on bitcoin price.

JamescrypTrader

jr. member

Activity: 140

Merit: 1

I really do agree with your statement. Bitcoin is dominating the market and it will continue till its high acceptance. Due to first ever crypto, it has that level of acceptance among mass people. And due to this situation, price of others depend on the price of bitcoin. But i think, implementing the new ways this system should be redefined.

bedulook

newbie

Activity: 112

Merit: 0

All alternative currencies are paired with bitcoins on trading platforms. Whatever bitcoin does have a correlation with it's other pairs

ofelia25

full member

Activity: 392

Merit: 100

Quote from: ambisyon on June 14, 2018, 04:46:35 PM

Yes, I had to agree with the author since that is what really happened in the current scenario where btc is alwahs the baseline in every bear and bull market. I hope this will be somehow corrected since all the cryptos differ from the other.

Well, I don't know what to say with this, I also like your idea but how can we base with the amount right? Bitcoin is just like dollar so for me it is fine since it is the father of crypto.

khaled0111

legendary

Activity: 2758

Merit: 3105

Top Crypto Casino

People trust Bitcoin more than any other crypto, that's why their prices are affected by Bitcoin price.
It will remain like that until a strong coin appears and prooves its self.
Maybe Ethereum will change this situation and will lead the market.

ambisyon

jr. member

Activity: 322

Merit: 1

Yes, I had to agree with the author since that is what really happened in the current scenario where btc is alwahs the baseline in every bear and bull market. I hope this will be somehow corrected since all the cryptos differ from the other.

garymorgen

newbie

Activity: 280

Merit: 0

Actually this situation occurs because bitcoin has the highest number of adoption compared to all other coins combined in the crypto world. This makes bitcoin a bit dominant. As the whole system is decentralized, this market price determination will continue to happen more or less.

binghope

newbie

Activity: 224

Merit: 0

It is possible that the bitcoin market will fluctuate over time in different regions, and there will be different ways of looking at and adjusting and different policies of the government and bitcoin investors are still not able to identify. is the market

Zaibraid

member

Activity: 420

Merit: 10

Indeed, I also think that determines the market price is not just from bitcoin alone. The number of other crypto currencies and technologies that all crypto currencies also determine on the market. I can say so because with the technology of the crypto currency is the trust of the community woke up. Besides that, I would prefer if bitcoin and crypto currency are made centralized rather than decentralized. I mean that bitcoin and other crypto currencies can be regulated. Hopefully, someday bitcoin can turn into centralization.

Gdra467

newbie

Activity: 137

Merit: 0

Most pairings on most crypto exchanges have Any crypto to BTC pairing or Any crypto to ETH pairing. Bitcoin is the usd of the crypto market and change in price affect all other cryptos. Traders would just go back and reduce their bids when they realize BTC is going down in price. This should subsequently and directly affect any other crypto.

laiya94

copper member

Activity: 308

Merit: 0

Whether you and me like it or not, I don't think it is going to be changed in near future because when we need to buy or sell altcoins we nee BTC as intermediate.

bowals

newbie

Activity: 140

Merit: 0

I really think so too.for crypto to really be decentralised, it needs to break from the shackles of bitcoin being at the centre

Jin xiou

member

Activity: 131

Merit: 10

some people believe that it is too late to buy bitcoin and further investment will not make sense. However, a more in-depth study of the issue shows that bitcoin is just starting to gain momentum. Bitcoin differs from classical currencies in that it was designed to grow in value, and not vice versa.

Exchge

newbie

Activity: 54

Merit: 0

I also have such thoughts. and if we now see that the key to the ups and downs of the market is bitcoin.

Topic: Bitcoin should NOT determine the market - page 13. (Read 2990 times)