Quote:
Originally Posted by rubbrband
I understand where btc’s strengths are and most of them are slowly eroding away. The more exchanges offering eth pairings and the more coins listed on coinbase the more btc loses from its fundamental strengths and advantages. The value of btc is in its utility and the network. It’s being outpaced. Btc is still the king and probably will be for a while but if you’re a bitcoin maximalist and not concerned you might want to rethink things.
no you moron. you are literally not getting it.
First, please tell me exactly where I wrote that btc is the king of value or utility, btc maximalism, or whatever random crap you cobbled together.
Because my entire ****ing argument actually had nothing to do with that, in fact, I went out of my way to specifically mention that ethereum, possessing a high volume USD pair across multiple exchanges in different countries, makes it an attractive investment visavis to alts.
The only liquid markets are
eth/usd
btc/usd
ltc/usd
and to a lesser extent usd/usdt
When you own a ****coin like ripple, iota, cosmos, eos, whatever. You are owning a derivative of eth/btc/ltc because they do not possess a functioning exit ramp in the markets.
Which in it of itself is not a problem. However, as more and more ****coins get launched, and trade on platforms, they are removing btc/eth/ltc liquidity away from the markets. How do we know this? because eth/btc/ltc are a FIXED AND RATE LIMITED supply rate. Altcoins, (e.g. ICOs) have unlimited inflation properties. More ****coins competing for same amount of btc/eth/ltc/usdt.
Simple maffs.