I disagree that we should be trading against bitcoin and not a fiat (USD) currency. Would you trade Microsoft based on the price of Apple? In other words if Apple loses 50% of its value should it take Microsoft down with it? It makes no sense, especially since the value of Bitcoin is highly volatile. The result of this is when BTC price rises/drops, the value of all other Alt-coins do the same. This in turn tells us nothing about the true value of either currencies. It only tells us the value of them in comparison to each other. In my opinion, in order for any of these currencies to become mainstream (used as a daily currency) the exchanges must be based on fiat currencies. Should the value of some joke alt-coin soar to millions of dollars in market cap simply because bitcoin went to the moon? I don't think so and this is a problem that is getting in the way of the long term viability of cryptocurrency in general. My two doges!