Topic: Bitcoin should NOT determine the market - page 4. (Read 2990 times)
When something bad happen or there is a bad news, all of the cyptocurrencies start to fall. Then people think that all the crpytocurrencies are falling due to bitcoin fall. No, the reason is not bitcoin. The falling is normal. Because that news is related to all of the crpytocurrencies. When a country ban bitcoin, they are banning other cryptocurrecnies too.
I think with that statement, it is hard not to determine the market. First of all the market really affects the value of bitcoin. Then bitcoin is the first and ever crypto currency in crypto world. Its safetiness in having and using was also proven and tested.
Bitcoin is the GIANT of all cryptocurrencies. I see a lots of issues and problems if we didn't allow bitcoin to determine the crypto market. Infact I haven't still see any coin that have the same ability and focus of bitcoin in the crypto market. So I will say Bitcoin should determines the market.
Bitcoin dominance will last for more than 10 years as I think. BTC is too popular to give its leadership to some other altcoins. Naturally, this crypto will continue to control the market.
That's very bold statement.
All it's needed is one hack/ bug to bring any cryptocurrency to its knees. Not even mentioning other coins constantly trying to dethrone the king BTC.
One cannot easily say that bitcoin always determine the crypto market. There are many factors that determine the price of the various cryptocurrencies and bitcoin is certainly has a big influence on the crypto market. I believe many of the altcoins are just following the footsteps of bitcoin.
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??
You don't get to decide, is very easy to think that the rest of the altcoins should have more dominance over the market and I agree that will be a good idea, but when you see that more than 80% of the projects are scams and that a significant number of the rest of the projects are useless coins that are never going to be used for anything other than to try to make money then it is very easy to see why bitcoin is such a dominant force in the market.Just some thoughts, what do yall think??
So until that changes it is quite obvious to me that the bitcoin dominance is going to be as high as it is right now and it is possible that it goes even higher, after all there is a big reason why bitcoin is the most trusted coin in the market, because unlike most coins satoshi did not ask for public funding to release bitcoin.
I think this has been so because Btc acts more like the central coin. it is involved in almost all transactions such that to even transact between altcoins, in most cases you will use Btc midway. Until this changes, Btc will continue to control the market.
Bitcoins should be the main determinant of the crypto market. Bitcoins dominance and volume is a proof that it moves the market and it been used as the determinant of the other coins price in the market is just on point.
Bitcoin dominance will last for more than 10 years as I think. BTC is too popular to give its leadership to some other altcoins. Naturally, this crypto will continue to control the market.
As long as Bitcoin has the highest level of capitalization, it can dominate in price terms over other types of cryptocurrency. I also do not like this state of affairs. I do not know how long this can last, but this is not normal for a decentralized market. A decentralized market with tight centralized price controls on all other types of cryptocurrency is abnormal. I think that the market itself will soon find a way out of this situation.
Now crypto market is very expanding and even one coin can not show the real picture of the market and through crypto we can do many transaction with out bitcoin we can pay all other coins in exchange and bitcoin has a high value in the crypto market but still we can not wholly dependent upon bitcoin and we connect every ting with bitcoin then market will collapse with bitcoin fall.
bitcoin can't determine the market it's true in my opinion that the development and future of the market depends on the investor itself, the more investor interest in investing if bitcoin can reach the global currency, it can possibly be done
I think bitcoin greatly affects market prices, but truth is not. Because the other coins have their respective prices that rise and fall don't depend on bitcoin alone. They are the same as bitcoin, the price depends on number of enthusiasts.
So the point is that it determines market not bitcoin, but the number of interested ones.
So the point is that it determines market not bitcoin, but the number of interested ones.
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??
Just some thoughts, what do yall think??
I think this is the most decentralized bitcoin can ever be. Literally, no one is regulating bitcoins. This is because if you add this 'certain feature' people are clamoring about to some how stabilize the whole market, then this becomes centralized. Meaning the main feature of bitcoins have been defeated.
Bitcoin is not just the most famous cryptocurrency. It is also a “checkpoint” for other digital coins. Many investors buy alternative cryptocurrencies in Bitcoin. Thus, many digital currencies are connected, and the fall of Bitcoin can affect many of them to a greater or lesser extent.
The most bitcoin-dependent cryptocurrencies are:
Ripple;
Ethereum;
Bitcoin Cash.
The most bitcoin-dependent cryptocurrencies are:
Ripple;
Ethereum;
Bitcoin Cash.
Currently I dont think there is anything anyone can do about their dominance. Its not a free gift because we can say if not for Bitcoin, other cryptocurrencies would be no where to be found. So I think its deserving for it to dominate becausee simply anyone would also do that.
because the biggest cryptocurrency right now is the bitcoin, so bitcoin have the power to determine the market, we can see there ar amny cryptocurrencies that affected by bitcoin price, I think In the future they can give the value by their own
Bitcoin is the king of all crypto currency in the industry, which has been in control over the market, for example past six months now bitcoin price has been dropped and it affects other alt-coin in trading platform.
It doesn't fully determine the market, if some shitcoin goes to the moon because of BTC rise in value people will dump and price will go downhill, but yeah, bitcoin price is good indicator of current crypto climate.
But it's good thing for Bitcoin itself as it shows it's very valuable asset that people will happily hold instead of alts.
For an altcoin to be not dependant on BTC price it should represent something more desirable that bitcoin, either because of it's profit potential (some kinds of shares) or stability (gold etc.).
But it's good thing for Bitcoin itself as it shows it's very valuable asset that people will happily hold instead of alts.
For an altcoin to be not dependant on BTC price it should represent something more desirable that bitcoin, either because of it's profit potential (some kinds of shares) or stability (gold etc.).
I can't say that I agree with this statement. To my mind, it is better to use btc as the coin for the long-term hold. It will determine the market for long time and you should accept this if you want to succeed
Bitcoins should be the main determinant of the crypto market. Bitcoins dominance and volume is a proof that it moves the market and it been used as the determinant of the other coins price in the market is just on point.
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