While I think doing this might be really good for some altcoins, I doubt we see that anytime in the near future. This same kind of practice happens with fiat too. Every fiat currency is measured to the USD and when the US government decides to change their monetary policy (increase or decrease supply) you see that trickle out and effect many foreign currencies. Same thing happens with bitcoin, albeit not by means of monetary policy, rather the market sentiment. I don't really think you'll ever get away from having a reserve currency, whether crypto or fiat. I can see the advantages and drawbacks of both.
What do you think? It doesn't seem like Bitcoin market pressure should have that much affect on everything else.
It's idiotic that they are even correlated. The crypto market will not be legitimate until you can go from fiat directly to alt coins.
It doesn’t help that a coin that really doesn’t work that well has such massive influence on the other coins. At least the meme was funny.
While I think doing this might be really good for some altcoins, I doubt we see that anytime in the near future. This same kind of practice happens with fiat too. Every fiat currency is measured to the USD and when the US government decides to change their monetary policy (increase or decrease supply) you see that trickle out and effect many foreign currencies. Same thing happens with bitcoin, albeit not by means of monetary policy, rather the market sentiment. I don't really think you'll ever get away from having a reserve currency, whether crypto or fiat. I can see the advantages and drawbacks of both.
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it is funny. flow of fiat directly to alt coins should start more such that there will be no huge bloodbaths :(