Hi, I want to share my opinion regarding ALTCOINS and their value. I think the main weakness of ALTCOINS - appart from the quality of projects running around them - is the fact that their value is calculated against BTC - which is the original crypto coin.
Been the original crypto coin does not mean BTC is the best model, far from it.
Unfortunaly, when BTC value goes down, all ALTCOIN values are following, and I think this is wrong.
ALTCOIN value should be based against main FIAT currencies, like USD, EURO, YEN ... etc.
In fact, BTC value depend on volume on market, but also depends on USD value ... This means when USD goes down, BTC goes down ... And it is even worth when USD goes down and BTC trading volume goes down as well ... This accelerates devaluation of ALTCOINS in my opinion.
I am not technical, not a financial, but I try to understand what could be done to improve system.
If ALTCOINS value was link to main FIAT currencies like USD or EURO, this would be more beneficial for the future of cryptos and ALTCOINS.
There are no reasons for ALTCOIN value to be tighten to BTC value and trades.
For example, let's look at the new coin, RAVENCOIN (RVN), based on BTC but apparently improved. Why its value is based from start against BTC ?
Possible Answer: Because major exchanges deals with BTC as the main currency ... Once again, I think this is wrong.
What's your opinion about it ?
What could be done to improve the system so ALTCOINS have there own value, and not a value depending on BTC ?
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