Bitcoin, Alt Coins, Steem Coin? How does the market work

in bitcoin •  7 years ago  (edited)

490x326_brokencoin.jpg

I have an easy question that i dont have the answer to....

If BITCOIN fails does that mean that ALL COINS FAIL?

IS there hope for other coins to emerge and not be affected by Bitcoin. If for example bitcoin dies like myspace did for social media and facebook emerged. Could that happen for blockchain as well if Bitcoin dies? To a non-educated crypto master here can you post in comments what you think. I would love to know that if Bitcoin dies does that mean that all coins die... As I see another big drop in the market for bitcoin this week I see the Steem coin go down as well. Educators, Crypto Enthusiasts lend me your VOICE

Crypto Friends can you help educate me today :)
@cryptocartograph, @cryptoctopus, @g-dubs, @ausbitbank, @icedrum, @inertia, @kingcoins, @phelimint, @overkillcoin, @therealwolf, @themarkymark,

bitcoin steem cryptocurrency banking nofiat
7 years ago by

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      ·  7 years ago 

    These last couple months have been hella annoying...expected corrections, but lately, seriously...need to find a way to disconnect Bitcoin from the rest of the coins. Getting to be like comparing apples and oranges putting PoW and PoS next to each other.... Pissing me off how Bitcoin keeps dragging Steem down like it is.

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        ·  7 years ago 

      Value of block-chain doesn't go anywhere. This market is just so immature, thus the Bitcoin pulls everything with it. If you check steemits economy section, you'll find out that current world is about to collapse, not other way around.

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          ·  7 years ago 

        Bitcoin is like the US Dollar. Everything is traded in that currency. If it coughs, all others get the flu.
        It is the oldest traded crypto and the one with the biggest market.
        Also, the crypto market is tiny compared to other assets.
        So even little amounts can have a big influence. Which makes it so interesting for all kind of traders.
        Ripples everywhere in that little crypto pond, when you throw I a stone.

        But that is just my uneducated hypothesis
        :)
        :)

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