How Can Altcoins Become Less Dependent on Bitcoin&#x27;s Performance?

kouba01 (81) · 7 years ago

It is impossible because Bitcoin for crypto is like USD for fiat currencies.

Аn overwhelming majority of assets can only be exchanged for Bitcoin, they are directly dependent on the situational Bitcoin price.

The majority of Blockchain projects and alternative digital currencies are in a one-sided dependency relationship with Bitcoin. Especially smaller currencies or starting projects are exposed to the partly enormous effects of Bitcoin performance. This can be attributed to the direct trade between Bitcoin and these currencies.

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milano1113 (58) · 7 years ago (edited)

Just look at the stock market. When we have bear market and large caps are getting hammered (forget about fundamentals) it eventually pulls everything down with it regardless of independence. Usually great fundamentals and non independence pays of in a bull market. That’s where great coins get separated from others. They tend to go up much faster and more then the weak once. And yes, look at IOTA, Steem or EOS. These are great independent cryptos aspecialy in a future bull market. It’s great buy time now!

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hashcash (63) · 7 years ago

In 2018 the cryptocurrencies have completed their first decade of existence and now the change within this ecosystem is inevitable. If a lot of theses coins don't find a real world use scenario they are going to be forced the market forces to go extinct.

Adoption is definitely the key. If the coin is used for real life cases, then by the very nature of its use, it would be separated by Bitcoin.
Your example of Ethereum is really perfect in this scenario. Ethereum has it's own ecosystem where it thrives and in fact there are coins that are affected by the price of the Ethereum.

For now the market dominance of BTC is relatively high but this can change in the future. At some level I also feel that the prices of the coins are also affected by the emotions of people. And Bitcoin is pretty much the emotion gauge of the cryptosphere

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newageinv (70) · 7 years ago

I think this will be possible as the market as a whole matures and create their own following and use through the successful implementation of their projects and relative adoption. This will create value within their networks which will make it less dependent on Bitcoin for price movements. However, most asseta will remain correlated to Bitcoin as asset class always trens to move in tandem.

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mistakili (69) · 7 years ago (edited)

I had this very discussion today with a friend, BTC was the very first cryptocurrency ever invented. Therefore to say if the alt coins can survive without the BTc or less dependent on the BTC is almost impossible to me, The bitcoin maximilist are doing everything they can to prevent that. There are coins with superior tech that should have already over come bitcoin but all those early investors are are powerful now and they have a deep emotional attachment to BTC to solely promote and protect it.

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deepti2378 (42) · 7 years ago

It's a very good question, I think you are right that the people use bitcoin for most of altcoin dealings. Hence the price is dependent on it. Some other coins like ripple and Etherium have also created there place in the market as there projects are quite good and they are reliable. But according to me I think bitcoin is most reliable.
I must say that you are very clear with your concepts and you are really inspiring and motivating people who are thinking to invest in crypto. I admire and appreciate your work @louisthomas keep it up and I will be waiting for your next post good luck my friend

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xupon (40) · 7 years ago

In the above content, you have a variety of cake presentations and discussions about each subject. Technology cryptocurrency bitcoin is very much related to each other because a bitkayana continues in its own orbit and cryptocurrency goes ahead with the mainstream of Bitcoin, in this case, what kind of type and bitcoin There is a lot of good things in this case Yabastu can happen then you will play an important role in the above comments cryptocurrencies contents vary and are accurate and will be presented.

In that sense, we have published knowledge concepts about cryptocurrency and different types of currency and the blockchain you talked about are important parts for important creative persons, and they have managed a lot of religious and discussed the exact content of Bitcoin.

andrejcibik (65) · 7 years ago (edited)

They can die :D Best and only decoupling.

ekeminithomas (41) · 7 years ago (edited)

I don't see this to be possible due to the influence of bitcoin marketwise on altcoin.

obest (59) · 7 years ago

Altcoins can be less dependent on Bitcoin performance if only they can solve a basic blockchain life problem that is relevant to today business endeavours . But it will take a longer time to achieve such fit because Bitcoin is the dollar of crypto official currency, that is Bitcoin is the official currency of crypto market

muzaifwani (51) · 7 years ago

i think BTC is one of the main coins used to trade on crypto-to-crypto exchanges. They are also the main coins traded for fiat on the most popular exchanges
if that would not be the case there might be the difference

smithandy (42) · 7 years ago

discusses cryptocurrency marketing and you have published knowledge ideas on important content. I think cryptocurrency has become a full money money currency now we have to wait because cryptocurrency is currently underdeveloped. We have achieved some good returns when the same process is completed within a few days.

queensophia (40) · 7 years ago

In relation to cryptocurrency relations, you can find an expert personality and you can find out the appropriate content and how you discuss the content in YouTube videos will play an important role for community members, and you have expertise in discussing Bitcoin and cryptococarbon trading and content. Not for a moment A great presentation prepared the way.

olvio (49) · 7 years ago

Bitcoins associated with cryptocurrency are now present in two different dimensions, so that there will be several activities and partial action, and when cryptocarcation is complete, many investment individuals will be interested in investing.

faizan.bhat (39) · 7 years ago

Within the present market main issue, no. Bitcoin is to cryptocurrency what USD is to fiat currency.Bitcoins value does indeed have an impact on the fee of all altcoins on account that BTC/AltCoin buying and selling pairs are essentially the most in most cases used and is as a rule the common go to trade pair on all cryptocurrency exchanges.

milend (48) · 7 years ago

I see it is very unlikely, because btc is the parent of all crypto types, if the parent undergoes a significant change, others will also get a slight change.
logically if the house collapsed then the contents of the house also devastated, so does crypto.
this is the only opinion and logic I get.
thanks @louisthomas

donald.porter (65) · 7 years ago

They need their own purpose, just too many altcoins going after Bitcoin with no hope of actually surpassing it's tech or use as a currency... .

Aside from Monero, Monero is King 😎 👍
#TeamXMR

hedge-x (57) · 7 years ago

Need more fiat gateways, which is happening. Bittrex for example - alt USD pairs. I know Coinbase is releasing many more pairs soon. Any day now.

zilze (39) · 7 years ago

The way alt coins can become independent of bitcoin is by having their own blockchain that is depegged from bitcoin. I think some alt coins are already independent of bitcoin e.g EOS and Bitshares.

altafwani (49) · 7 years ago

I don't think cryptocurrency is mature enough to decouple itself from Bitcoin.
I think cryptocurrency needs Bitcoin to remain successful. Even if it's not #1, I think it needs to stay as the old faithful, reliable coin. Even if one day it's not the biggest or most exciting, it should remain a good store of value and if possible a usable currency. Like they say, digital gold.

tusharraina23 (48) · 7 years ago

Hello @louisthomas it's good to see you back and I am really excited with this new idea of yours.
The question you answered was really amazing. And I believe what you said about bitcoin was very much true. Bitcoin is the only cryptocurrency which is popular and is used by most of the people. It has a very unique algorithm which makes its worth.
You are right when you say that in near future other coins like Etherium will also be excepted and that is going to make a change. Well I have already started trading with etherium, but I do find a problem as it is not that stable. It goes up and down to a great extent which makes it difficult to trade with. Where in case of bitcoin there is no such issue.
Thanks a lot for sharing this idea and information with us.

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bengiles (50) · 7 years ago

Thanks Louis for another great video! BTC and even Eth dominance will decrease over time and therefore have less of an overall impact on the crypto markets

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prince121 (60) · 7 years ago

Great analysis and effective discussion in your video explanation.... It's true that altcoins become less dependent on btc performance...@louisthomas

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sabbir1213 (54) · 7 years ago

Thank You for share Your full vidoe (How Can Altcoins Become Less Dependent on Bitcoin's Performance?)

Carry on for your best job.

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