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RE: Cryptocurrencies are Dependent on Bitcoin's Value, but Isolated from Traditional Assets and Markets (For Now)

in #bitcoin7 years ago

The fact that Bitcoin is not that dependent on traditional markets is great in my opinion. That's what allows it to create value and freedom. But I'd also like to see more and more cryptocurrencies starting to live a life of their own (like Steem) and starting to decouple from Bitcoin. Currently Bitcoin is the main gate between fiat and crypto and this means a lot of the cryptospere is directly dependant on it. The more ways to trade between fiat in altcoins directly, the less important Bitcoin will be.

I think Bitcoin served a great purpose but there are numerous coins nowadays which are superior and who deserve to take the torch from it as the market leader. But to do so, they need to stop being dependent on it which means a lot of exchanges having to deal with a lot of regulation.

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Eventually, but it takes time for ppl to get off the bandwagon and support something better quality than the popular quantity ;)

Well, I think we are certainly headed in that direction. It feels like it was yesterday when Bitcoin held the majority of the total cryptocurrency marketcap while it's now hanging around 1/3. I'd love to see it below 10% (because of overall growth of course).

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