BTC goes up, XMR goes up.
Lovely isn't it.
Certainly a nice change! Reminds me of some alts in 2013...
Which brings up a question:
I've been using both XMR's USD price and it's "BTC price" when following XMR (rather recently doing both). I had just been doing the latter, but since you can buy XMR on Bittfinex (is it?) for FIAT, I might as well consider that but how much? How do you all view this? Is 80% of XMR bought with BTC or ? Any stats available?
I wonder as BTC continues this rise, at some point people are going to start evaluating XMR more in dollars (as that is "stable" and perhaps more familiar to the masses), it will be available at more places for cash purchases, and so we are going to want to separate, as the initial determiner the BTC/XMR ratio, but that is just my thoughts right now. I'm open here, just wondering...
IAS
https://coinmarketcap.com/currencies/monero/#marketsHere you see all Monero Markets. You can buy Monero with fiat right now on Kraken , Bitfinex, BTER and Livecoin. For USD, EUR and CNY. As it looks Kraken might be most popular altho just started. I guess people are still careful because Bitfinex indecent few months ago. BTER is Chinese exchange where Monero is not so popular and Livecoin small exchange.
Thanks for the link. I didn't realize it would list it like that. Very nice. So, I think I was close. If 80% of volume is on Polo and you can't buy using cash there, I'd bet that 90% of all XMR bought right now are bought with Bitcoin first. So there is that intrinsic tie. And that does probably remain for years. (My guess)
BTC goes up, XMR goes up.
Lovely isn't it.
Certainly a nice change! Reminds me of some alts in 2013...
Which brings up a question:
I've been using both XMR's USD price and it's "BTC price" when following XMR (rather recently doing both). I had just been doing the latter, but since you can buy XMR on Bittfinex (is it?) for FIAT, I might as well consider that but how much? How do you all view this? Is 80% of XMR bought with BTC or ? Any stats available?
I wonder as BTC continues this rise, at some point people are going to start evaluating XMR more in dollars (as that is "stable" and perhaps more familiar to the masses), it will be available at more places for cash purchases, and so we are going to want to separate, as the initial determiner the BTC/XMR ratio, but that is just my thoughts right now. I'm open here, just wondering...
IAS
The BTC price is something of touchstone in the cryptosphere. But as more new money comes in I imagine the 'fiat' price will become more prevalent.
Another factor that is often ignored with regard to 'fiat' prices is the relative strength of those currencies - so the BTC price moves and people look for a reason but rarely look at what the USD or the EUR (etc, etc) is up to.
So, against the GBP or EUR you may say BTC's surge is helped by the relative wekness of the other pairs.
And while it may be heresy around here the USD is 'doing well' in forex at present, which makes BTC's current valuation even more impressive.
Of course, the real goal is not to value XMR against any other currency but against what it can be used for.
Thanks - good perspective. (Like I said I will watch both "prices".)
Something tells me this year is going to be real real interesting for Cryptos as there appears to be serious banking problems coming (again) as well as more global turmoil.
Protect what Fiat you have and make it portable...