|
bstewart (OP)
|
 |
February 01, 2018, 07:58:27 PM |
|
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
|
|
|
|
|
|
randythered
|
|
February 06, 2018, 07:48:47 PM |
|
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
This will come with time as the public are more aware of other cryptocurrencies and their benefits, right now for many bitcoin and cryptocurrency are the same thing when in fact bitcoin is just the tip of the iceberg. |
|
|
|
|
chutchmcgillicutty
|
|
February 06, 2018, 07:52:45 PM |
|
Once youxcan buy an altcoin without buying btc to buy it, it becomes free from one side of the connection. However a lot of people like to keep their assets in crypto, so they will trade out of alts into btc and/or eth, so until btc lises its spot as the top dog, it will always have some correlation to the market as a whol ie alts  |
|
|
|
Tatzky
Jr. Member
 Offline
Activity: 162
Merit: 1
|
|
February 06, 2018, 07:58:35 PM |
|
ever since trading begun way back on the history of barter when the currency was created, all people in the market need something standard or common practice to compare all the value of their currency, they have many kinds of coins before like copper, bronze, silver but the most valuable is the gold but the value of ll coins was based on the value of gold, like ten copper is equivalent to 1 piece gold coin , etc, same with the digital coin, they need a standard and basis to give their coin a price.
|
▐| KRYPTOBITS ▐| THE NEXT GENERATION EXCHANGE
●》 Pre ICO start on May 17th 2018 [ kryptobits.com ] |
|
|
d_crypto
Newbie
Offline
Activity: 55
Merit: 0
|
|
February 06, 2018, 08:01:45 PM |
|
It would be very hard for alt-coins to be separated from bitcoin...Once they have bigger trading pair than btc then this might be slightly independent.
|
|
|
|
|
|
Hui8
|
|
February 06, 2018, 08:04:51 PM |
|
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
I think that is what not allowed for the crypto currencies because they are literally decentralised and very manipulative. If we do not make any trades in the bitcoin but makes loads of transactions in the altcoins then they can get affected in sever ways and thus can get pumped or dumped depending upon the situation. So its like altcoins are neither too dependent on the bitcoin and sometime they are so much dependent that their graph moves in similar manner as with the bitcoin. This is what happened in todays trades also, when bitcoin started jumping upwards it actually drove the market of altcoins upwards too. |
|
|
|
|
|
kevoh
|
|
February 06, 2018, 08:08:45 PM |
|
For this to happen, bitcoin will have to lose it's market capitalization completely and possibly become a worthless currency only then can the altcoins become independent. But then again the altcoins will have to be traded against the new coin that dominates the market.
|
|
|
|
|
|
cryptogeek101
|
|
February 06, 2018, 08:16:47 PM |
|
There is no way altcoins will be totally independent of Bitcoin because Bitcoin is regarded as the base currency in the the Blockchain world. Any time there is movement in the price of Bitcoin it will automatically affect other cryptocurrencies. That's the reality of Bitcoin impact the crypto space. Thanks
|
| HOMT | |
●
●
●
●
●
●
●
| | | |
●
●
●
●
●
●
●
| |
Powered by,
|
|
|
|
Fantina
Newbie
Offline
Activity: 238
Merit: 0
|
|
February 14, 2018, 09:52:44 AM |
|
altikon never will be, regardless of bitcoin is as a global position of the dollar against other world currencies
|
|
|
|
|
Road445
Member
Offline
Activity: 224
Merit: 11
The Experience Layer of the Decentralized Internet
|
|
February 14, 2018, 09:55:56 AM |
|
I think it's very difficult right now, because governments just recognize bitcoin, they're not optimistic about altcoin, and they're even going to have further regulation of the ICO market and the altcoin market.
|
|
|
|
|
Master Carnegie
|
|
February 17, 2018, 09:04:49 AM |
|
I have studied a lot on this subject of coins to be independent of Bitcoin, and I practically do not find a coin that does not change after Bitcoin's correction, some because they are more solid than the others resist for a while but then adjust to Bitcoin's current, an example of this may be Ethereum, delayed but was corrected after the correction. I would like to see a future with indenpendent currencies, but currently I do not believe in possibility.
|
|
|
|
|
|
LeoEspansq
|
|
February 17, 2018, 09:08:51 AM |
|
I understand that since altcoins are paired with BTC for trading, the price is based off bitcoin's.
However, even if an altcoin is doing well, it can tank (in terms of sats) when bitcoin's price corrects.
Will we ever see a market that isn't so heavily dependent on bitcoin? Is this possible for the future?
It is difficult to remove the basis from the entire block system. This is one big thing that is inseparable actually. And even if bitcoin completely drops out of the trade, even then the altcoins will also suffer very much. |
|
|
|
|
javadsalehi
Member
Offline
Activity: 364
Merit: 13
|
|
February 17, 2018, 09:09:30 AM |
|
As long as bitcoin is the most popular cryptocurrency and most of the trades are done with BTC, it is impossible. I don't think it will happen in near future.
|
|
|
|
|
|
itsv
|
|
February 17, 2018, 09:19:49 AM |
|
i think when exchanges list alternative pairs such as ETH and LTC for trading almost all altcoins then we will see some stability.
|
|
|
|
|
andiko
Full Member
Offline
Activity: 350
Merit: 101
Asura – Self Sustainable eSport ecosystem
|
|
February 17, 2018, 09:29:10 AM |
|
As it seems to me, the dependence of altcoins is related to their trading pair to bitcoin and I think that the independence of altcoins is real, we just need to use some other pair for bidding.
|
|
|
|
|
iLatios
|
|
February 17, 2018, 09:32:42 AM |
|
To my mind, won't. A lot of us though in the beginning of January that altcoins could not only double but make your profits bigger 5 times and more. After BTC drop in the middle of January, almost all altcoins fell down. Now it is not easy for them to renew their previous high price so quickly
|
|
|
|
|
MostafaGamal
|
|
February 17, 2018, 09:34:33 AM |
|
it's bad thing , so any dump in bitcoin all market be red except some unknown altcoins , i think it's a related to Trading in BTC Pairs on exchanges and the trading volume of it.
|
|
|
|
|
|
Mrs Troll
|
|
February 17, 2018, 09:35:23 AM |
|
Its possible to get market that not heavily dependent on bitcoin only in case if some new coin replace bitcoin  For example Ethereum or Ada. |
|
|
|
|
svobodnyi
Member
Offline
Activity: 308
Merit: 10
|
|
February 17, 2018, 09:36:08 AM |
|
It is very unlikely that. The market will always revolve around bitcoin, the attention of all traders will always be riveted to bitcoin.
|
|
|
|
scoobidoobydu
Member
Offline
Activity: 141
Merit: 10
|
|
February 17, 2018, 09:41:54 AM |
|
To the whales, altcoin is the way to get more bitcoin. so the alts price will never be independent of BTC movement.
|
|
|
|
|
