So apparently all the alts are bound to BTC for some memetastic reason...

So apparently all the alts are bound to BTC for some memetastic reason. This means that the comfy investments we made in alts we believe in all hinge on BTC not burning down at any given moment. How do you guys keep your sanity after finding this out? I have ZERO faith in BTC, but apparently if we don't believe in BTC we should just cash out of the market.

well for thing, Im not a retard, I already cash out many times my initial and put it into a vanguard

I'm well on the plus side too, but I still would rather not see my gains go poof when the retarded shitcoin that clearly is in a bubble collapses

i agree that alts are dependent on btc.
if btc crashes i guess my alts are fucked arnt they

They weren't supposed to be that way, but it's pretty fucking clear now that they are. I've lost a ton of confidence. -50% in one day was supposed to be an extremely unlikely event, but since I believe BTC can do a -50% any day, then so can alts. So how do we even keep holding them?

Alts have been proving their independence more and more lately. Especially ripple and tronix

I'm new and wanting to get into crypto trading, is this the only way to "hold" gains without cashing out to fiat? Is there a way to avoid tax fuckery until you literally have the money in hand? for example: have the USD balance somewhere outside of a bank and without actually being considered taxable by the IRS?

100% Litecoin. Despite explicitly being tied to BTC, in the end, everyone will flock to this quick, cheap, normy-friendly crypto. Every other crypto is garbage unless you want anonymity, in which case, Monero.

I don't think so. XRP put up a small battle, but caved in just like everyone else in the end. Note that it was +50% when it started, it dipped about 40% from that, just like the rest. There were no winners among the alts, except fucking Burst by shill mcafee

Just don't look at the USD price of anything.

Trade alts to increase your BTC stack. That is all that matters.

Just like they did yesterday, right? There are NO safe alts. If I wanted safe I'd just move to USD

For a day? Oh heavens to Betsy. It dropped for a day, but is still up 307% for the month. You're right, what a piece of shit. Put your shekels in a CD and get a full 1% on it in a year. It'll be safe, senpai.

Bitcoin is the flagship, You could take a literal godly coin and if bitcoin crashed it'd take it out aswell and most of the times a crash happens coins that aren't directly tied to bitcoin will recover faster then bitcoin will, Take a look at the market and you'll see this.

They are linked to Sats. How do you not understand this yet?

Say you have DASH at .10 Sats at a price of 1,500 USD, BTC is 15k. BTC crashes to 10K and because DASH is still trading at .10 Sats it's now only worth 1,000 USD.

A post like this would get downvoted to oblivion / removed by the mods on plebbit.

really makes you think

It bitcoin crashes and brings everything down with it eventually people will reinvest in good alts. Its the technology that we should be invested in. Not a specific coin

This is actually pretty solid train of thought. Don't stress about the USD prices since they can recover. Currently my plan is just to keep watching for the real crash and try to panic sell my stack for USD so that I can buy back cheap and make nice gains when the market regains sanity

What I'm afraid of is a real crash happening. The one yesterday didn't even shake my hands much. But what worries me is that the market recovered ONLY because bitcoin finally recovered. When it doesn't I don't think the alts will recover either.

Makes me wanna cash out half my stack right now, but on the other hand I'm thinking it's equally likely that it would only lead me to missing perfectly good gains.

>measuring in shitcoin fractions

this lmfao fucking morons

>>measuring in shitcoin fractions
Because that's what it's measured against.

The USD evaluation that you see goes through BTC or ETH.

If you buy DASH at 1,000 that simply means that it's Sat value is 1,000 when converted out. If BTC goes down right now without ANY price movement of the DASH itself, DASH also goes down. Please think for 5 seconds.

If BTC goes down, you increase your DASH/BTC ratio. If this was the root cause, why would ETH go down with BTC considering it has tons of fiat pairings?

Ask me why steel hands have no issue with this.

No you fucking do not. That's what I'm trying to tell you idiots.

That's why when you buy at the exchange it's measured in sats or ETH amount. Hence Trading Partners.

Holy fuck you guys are dumb.

Alts go up or down according to Sats. Whatever the price of BTC is, is the price of the sats.

they will decouple at some point

so if btc dies all alts die, end of story.
fuuuccck

could u imagine this whole industry poof gone

Many people want the market dead but we have 9 billion pajeets with big dreams keeping us afloat

Well in theory, BTC could crash and ETH holds. But that doesn't happen the bots are programmed to take in account of King Shitcoin and when he goes down so does ETH.

Everyone hates BTC but in order to get rid of him, the whole market will have to tank.

False, Electroneum never lost. Not even at the height of the crash.

Nice user. Just cashed my initial investment before this current dip too. People who buy in but never once take their ROI are dumb as nails.

I know btc is standard in cryptotrading but wouldt it make more sense to look at the ETH price becuase so many alts are based off of it?

I had steel hands through yesterday's dump. Now I have noodle hands since you'd be delusional to trust BTC not to completely shit itself at some point

>No you fucking do not. That's what I'm trying to tell you idiots.
That's the traders' incompetence though, and it can't be the only explanation considering there are tons of ETH-* pairings like I just said, and ETH was one of the alts to take the worst nose dive. It should have held stronger against BTC but it didn't.

kek, these guys are fucking unreal. Absolutely unreal. It's like finding an entire colony of gold traders that don't know they're also trading dollars.
By their retard logic BTC falls to zero they're in clover. KEK

Youre right. But this will change, maybe People will run into Alts and let dial up-coin finally die. I guess it will be eth/alts in the future

The death of Bitcoin will lead to the birth of the one true crypto currency. The bubble has to burst one day, but like a phoenix rising from the ashes, blockchain will continue to revolutionize the world, and NEETS will get rich.

This shit was mooning throughout the whole correction period. It’s still going up

>This shit was mooning throughout the whole correction period. It’s still going up

Yes it was going up in Sats thus mooning. The percentage of sats was going up where as usually it goes down because BTC crashing causes alt money to exit market as well.

I’m not denying that it would’ve mooned ten times harder if it wasn’t for BTC, but a coin that can do that and ignore its tie is a coin definitely worth looking into

Take your money out of btc and put it in some alts or the other currency gateways like ETH or LTC

I think i just found my investment strategy.
Buy btc/eth on the dips and buy alts when its on the rise.

>I have ZERO faith in BTC
Why though.

>but apparently if we don't believe in BTC we should just cash out of the market
Yeah you should.

I don't have any BTC. Even though I don't think pairing explains everything but does have a point, being paired to BTC definitely hurts alts

u gotta think in satoshis not $ value. as long as ur not getting wrecked on satoshis then ur fine m8

>Why though.
Are you serious?

tfw ICX ignores eth and bitcoin trends and just goes up

Yeah a stable btc consolidating for months would be a godsend for alts. Btc moons -> alts dumps. Btc dumps -> alts dumps

Holy fuck I used to have 500 xby on yoshit when it was trading

>well for thing, Im not a retard, I already cash out many times my initial and put it into a vanguard
Uhh, if you are making so much with crypto why not keep doing it? Vanguard gonna get you much lower gains. Its like you dont want to be rich.

It's because the exchanges only allow certain cryptocurrencies to be traded for USD.
Bitcoin is the oldest crypto trading for USD so it has the most investors overall and for new investors that makes it the most comfortable to try and gauge the market price.
Alts will always be behind and tied to it until bitcoin's price becomes stable and less volatile.

here comes a btc dive lets try and spot the alt that will survive if btc does not

icx. req

Fucking BTC futures man

Its a mesh of things.

Right now BTC is the maincurrency gateway mainly becuase of its market value and it was first.
BTC's only main application now is store of value by acting as one of "the strong middlemen". People buy btc to store value and to trade alts. Any currency that can be used on exchanges and can liquify to fiat is a "strong middle men". Eth and ltc are other examples becuase they are on coinbase and you can xfer to an exchange or cash out for USD.
The alts serve to legitimize the stong middle men by using them to purchase their tokens on exchanges.
And this whole thing is driving decentralization.
Blockchain and cryptohashing are infant technologies and btc is really fucking volitile. So all these alts that are basically kind of like a confidence marker for said tech. Since the more alts there are the more spreadout the market is so people dont feel trapped when btc is in free fall and instead they can just put their money in another coin or token if the fall gets too steep.
Bitcoin legitimizes alt coin/cryptochain startups and funds the tech and the alts soften the blow of btc's hormonal volitility. Like btc is just hitting puberty.

Im not well read on the matter. But i've been saying that btc or crypto will stabilize once it gets paired with commodities.
Becuase currencies weren't first used to buy homes,or cars, or luxury items or to even pay fucking taxes. it was used to buy materials and food. Or the tech needs to be fully rolled out and at maximum utilization. Becuase alot of this is riding on the hope that everyone wants to use this technology.
And while i am currently skeptic that people will pay for transparency, there will be alot more customers who demand it once they understand what you can really do with this tech.

im thinking this shit too man. damn i feel excitement all ready~

Deluded fags keep crying about the death of BTC so a superior coin takes over but they are entirely missing the fucking point. I don't know if Satoshi's design was intentional or a plain mistake but what he did is genius. By putting a strain on the blocksize and forcing fees to go through the roof he created a fool-proof system to prevent the people invested in the blockchain technology from abandoning it.

Satoshi first came up with a technology that was supposed to disrupt the banking and financial system in light of what had happened in 2007. Because the technology is still in the early days and he lacks resource to birth it on his own, he first must come up with a market that can potentially value his cryptocoin - these are the silk road days when millions are being used to transact goods and services on the black market since the technology makes it difficult to track down transactions.

When the system is clogging it's first limitations, other developers seeing the value of BTC and its technology start developing alternate projects with other practical features. I don't know if this is mistake by design but linking them to BTC is fucking brilliant. Everyone invested in BTC is funding the technology and the projects while creating a core protection in the event of the first failures - as the blockchain increases and transactions become slower and fees are abnormally high cashing out is perceived as a more dangerous and non-practical thing to do (the volatility in these moments enhances further this feedback mechanism). What BTC is essentially doing is conceiving a system that forces the technology to evolve no matter what limitations it has until the problem has been solved. Dunno if this shit was mathematically thought up by Satoshi but it's beautiful.

Can you explain for a brainlet how that happens?

>how the whales manipulate the normies, thus controlling the market

holy fuck you guys are idiots

If you didnt cash out and wait for a week to buy the dip, prepare to get your anus's fucked by a whale's bot

>Well in theory, BTC could crash and ETH holds. But that doesn't happen the bots are programmed to take in account of King Shitcoin and when he goes down so does ETH.

Not bots but miners.
Miners don't give a fuck about eth, they just mine and sell everything for btc.
Eth has a high inflation right now - there were 20835 new eth mined yesterday - that's about $15M. That's the reason the ratio is dropping on the longer-term chart.

Ether is going to decorrelate from btc once proof of stake starts.