Bitcoin Forum

It gets its USD value from BTC

That's the definition of "alternate" coin, it will never be a primary, ever. Actually, it's impossible.

all alt coin should suck from usd/eur instead btc, w8 until cryptsy add usd trading, and i'll trade directly with that

down with eur/usd!

That's like saying BTC has no value of its own.  It gets it's value from USD.

That's not true. It is weakly connected to BTC. When BTC falls momentarily it also falls because BTC is the main cryptocurrency and when BTC price falls all cryptocurrencies also fall because BTC represents them.

However, besides being cryptocurrency, LTC has other benefits which are different from BTC. And that saying, it value against BTC grows over time.
Look at precisely one month ago. LTC was about 0.01 BTC. Now it's 0.03 BTC.

So, the bottom line is that BTC price certainly affects LTC price for the reason of both being a cryptocurrencies. But it's not the only reason of its price. And the other reasons affect value of LTC independent from BTC.

It cannot have it's own price or you would have a nice arbitrage opportunity.

And the USD has no value of its own because it gets it's value from .... oh wait.

Ltc=btc/usd otherwise you can arbitrage
It will never have it's own usd value

Wow Much true -

but i make much % when LTC go up with BTC

  - Quark making whole new currency , new investor base ! much wow ! 

What the hell are you claiming ?
You can buy Litecoin directly with FIAT money. If you can buy it with FIAT, it has a price.

Oh maybe you want to talk about value ? What's value then ? What make something valuable ? Come on, tell us what you think...

Fuck you dog, you don't even seem to understand what I'm sayin'

You must be trolling.

You know that they is other FIAT than USD so Bitcoin take its value from BTC/USD that take its value from EUR/BTC that takes it value from YUAN/BTC and so on.
It's a global economy. You can't isolate one currency.

If ltc had it's own usd, you can arbitrage it via btc/usd
There is arbitrage cross currency, but its hard. I cant go get yuan and arbitrage at btcchina

That guy is pumping and dumping

You can arbitrage with Yuan. Send Bitcoin on a Chinese exchange, exchange them for Yuan when YUAN/BTC is high, exchange it back to BTC when YUAN/BTC is low. You just made arbitrage with a foreign currency. You can apply it to anything.

I used to send Litecoin on Chinese exchange to get Yuan then BTC then Litecoin again.

true
+1

Please take a look at the LTC/BTC chart here:  http://bitcoinwisdom.com/markets/btce/ltcbtc

Certainly not 1:1

Bitcoin has the largest market share of all crypto currencies. When users gain/lose confidence in Bitcoin, the same will generally be true for alts.  That may be the correlation you're speaking of.  

Secondly, I'm not sure what you mean by a primary, but I'll assume you mean most adopted, or trusted, or highest market cap, since I'd assume you know that some altcoin exchanges allow you to trade alts against alts.  If an altcoin was developed in some way to make to make it superior to Bitcoin by design, then of course the market could gravitate to this new coin leaving Bitcoin in the dust.  

Actually, you are wrong.
If we follow your logic, euro and all the others currency in the world have no value because you can trade them with USD?
Oh man

Those hold values all together because of forex

What?

I'm going to assume you're trolling at this point.

The only reason altcoins are called altcoins here is because this forum is Bitcointalk which was created to discuss Bitcoin.  Hence they are "alternates" to Bitcoin here.

Bitcoin can be an alternate to Litecoin for example.

The crypto community has not changed the definition of alternate as far as I know.  I encourage you to actually look up the definition.

Yes, you are correct,

How about transfer yours worthless LTC coins to me?

You can say that when those coins use their own source code. And you should look up arbitrage and forex. You'll learn something.

I don't keep any worthless alt coins.

Then why do you keep that LTC wallet address in your signature :)?

thanks for letting us know bro

QRK booster adopting dogecoin speak.....

Whoosh.

Do you know what arbitrage is?

If you could sell 100 bitcoins for $100,000,
and you could buy 100,000 litecoins for $100
and sell 100,000 litecoins for 1000 bitcoins

What would you do?

That's above these people's heads

I am doing arbitrage with USD EUR YUAN LTC BTC.
I am doing this to increase my overall wealth.
What's your point ?

That's why ltc has no massive usd value

The point is you're arguing with a noob. It was irony.