BTC price is much more important than USD price - page 3.

eternalgloom

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Yeah, I find it fairly annoying that USD prices are displayed standard on price overview sites like Coinmarketcap.
You really don't know anything with that, when you are just looking at the altcoin prices.

Quote from: tsaroz on May 16, 2019, 07:34:08 AM

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.

You've completely missed OP's point... They're saying that you cannot gauge the performance of alts by looking at the USD price, since those will automatically increase whenever BTC goes up.
Since pretty much all coins are traded against BTC.

tsaroz

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★Bitvest.io★ Play Plinko or Invest!

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

But the problem is almost everything in the world is valued against Fiat money. Buy a pack of milk, biscuit, ride a metro, order a burger, receive your salary, pay your bills, almost all of them are defined against Fiat. And all of the Fiat are defined against USD. So, this loop created by the IMF and world bank is hard to break.

cryptonx

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Futurov

Quote from: pushups44 on May 16, 2019, 06:29:52 AM

Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.

its depends on our purpose in our investments or trading activity my friend
if we want to collect more or increase our bitcoin amount, i think bitcoin terms will be more important than USD terms
but if we want to increase our portofolio in usd terms, usd terms will be better than bitcoin terms

pushups44

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Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

I disagree. I find basing values on the dollar to be more useful given that the dollar is still the global reserve currency. Bitcoin is still too volatile to use as a baseline for measuing the value of other currencies. When bitcoin is much higher in value and more stable in price, then we can use bitcoin as a basis for valuing alts.

hell_slayer

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Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.

I think that usd price is more important, because the new investors who come to crypto market lead fiat money here and change the dollar for cryptocurrency, so the price to the dollar is more important for them. Btc price is more important for those traders who trade btc/alts pairs and accumulates bitcoin for the future

hatshepsut93

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Quote from: Lagonda on May 16, 2019, 04:08:15 AM

But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.

Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).

If you want to gain USD, you still have to pay huge attention to BTC price of alts, and BTC market in general, because you can be missing out on safer and bigger USD profits if you put too much money into alts and they get outperformed by BTC, which happens a lot of the time, like in the current rally.

Quote from: Herbert2020 on May 16, 2019, 04:09:02 AM

it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

I wouldn't say that it's the fault of coinmarketcap or other sites, it's just the general mentality of measuring everything in USD, even if alternative pairs provide additional information.

Herbert2020

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it is coinmarketcap.com's fault because all the newbies check that website and the default value is in USD so these newbies who don't even trade, think their bags of altcoins are increasing in value whereas in reality they have lost money because initially they bought those altcoins with their precious bitcoin so for example if a newbie had 0.1BTC worth $300 and bought an altcion with that, the said altcoin is worth higher in USD but if he converts it back to get his bitcoin back he will only get 0.01-0.02BTC and that is currently worth $80-$160 so he is in a huge loss.

Lagonda

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Quote from: hatshepsut93 on May 16, 2019, 03:51:48 AM

When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.

You're viewing from a bitcoin-biased trader's stand point, meaning you trade on ALTs/BTC pairs. Yes, it's right BTC price is more important than USD price if you want to accumulate as much BTC as you can. And when BIT pumps high, you sell you BTC to USD to earn double-profit.

But it doesn't matter if I'm a USD-biased trader. I trade on ALTs/USDT pairs. My first priority is to accumulate as much USD as I can then and I don't care about BTC.

Whether you're a BTC-biased or USD-biased trader, your ultimate goal is to see USD pouring into your bank account (not USDT stable shit coin on exchanges).

hatshepsut93

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When people discuss crypto prices, they always do so in relation to the US dollar, however this should only be correct when discussing Bitcoin - for alts the more important metric is their price in BTC.
Why? Because it indicates their performance relative to Bitcoin, so if Bitcoin rises and alts rise too, the first thing that you have to look at is their price change in BTC - when it's negative, it means that BTC outperforms them, and the opposite if it's positive.
Bitcoin is often called the king of crypto, and rightfully so - it's more stable, more safe, has higher volumes than any other coins, so when you invest in alts, you absolutely want them to outperform BTC, otherwise you are taking unjustifiable risks and get lower profits.

Topic: BTC price is much more important than USD price - page 3. (Read 446 times)