Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Beginners & Help
Re: 2018 Mining Reward
by
EternityFirst
on 12/07/2018, 18:12:46 UTC
Quote from: adesouki on July 12, 2018, 06:04:35 PM
Quote from: EternityFirst on July 12, 2018, 05:59:09 PM
Quote from: adesouki on July 12, 2018, 05:38:15 PM
Quote from: madnessteat on July 12, 2018, 04:02:02 PM
Since all coins are traded relative to bitcoin, the price of other altcoins changes with the fluctuation of the bitcoin exchange rate.
This is my essence of my question, why does other coins follow BTC exchange rate given that other coins (not tokens) follow other protocols than BTC?
If i understood your question right, you practically asking why everything falls down when BTC does? If so, I can say, that BTC is representing all cryptocurrency market. The reason is, something about 40-50% of operations still involve Bitcoin. It`s like reserve currency of the market and so everyone reacts to it`s price falling like if market itself is falling.

So this situation is bound to change in the future when some coins like ETH be fully independent from BTC. meaning fiat money > ETH and vise versa?
Something like that. I`d say, when market will be formed with all it`s institutions (yes, I think it will be happening in a few years as soon as Big Money will come, and they will) and BTC stake in all transactions will decrease to somewhere about equal to other top crypto`s. But I`m not an expert so that`s like just my humble opinion.