Today I was taking a gander at Twitter and couldn't accept when I read what comes next:
"The best way to prevent the whole market from being controlled is to unhinge Alts from bitcoin. The pairings should be in fiat. The whales can control bitcoin and hence control the whole back and forth movement of the market. At the point when bitcoin drops in USD any alt combined to bitcoin will likewise drop on USD. Consequently individuals blow a gasket... since they don't comprehend the flow behind the blending they dump their alts at a lower satoshi cost. Which turns into a twofold negative for the alt"
Most importantly I should state that not the slightest bit I'm not attempting to scorn whomever composed this content or any individual who may feel there is some fact in it. I simply that I groped constrained to bring why this is so wrong subsequent to looking at on a similar stage what number of individuals appear to concur with this.
I need to address two or three missconceptions here that prompt a fizzled conclusion. "The whales can control bitcoin" is an exceptionally prevalent misconception and there are two primary reasons why individuals trust this notwithstanding when it's not truth. By checking the blockchain history you can perceive how a couple of publick keys/delivers appear to deal with the greatest measure of bitcoin available for use. Nonetheless, individuals appears to overlook that a large portion of these addresses have a place with the greatest trades in volume, so really these bitcoin don't have a place with only a modest bunch of individuals yet to the a great many clients of those trades. What's more, obviously, there are a few "whales" in this world however we additionally have some exceptionally rich individuals in fiat that have substantially more cash than whatever is left of us. Yet, this"whales" are not moving their bitcoin around, on the off chance that they had, they wouldn't be "whales" any longer. They "hodl".
At that point we have the second missconception I was talking near. "In this way individuals go crazy... since they don't comprehend the flow behind the blending they dump their alts at a lower satoshi cost". All things considered, obviously there are individuals who do this, we can't deny that. In any case, I don't figure you can state that a large portion of altcoins financial specialists act along these lines. When you utilize your BTC to get some altcoin out of the blue you should know why you do it. Is it to acquire BTC or would you say you are occupied with purchasing the altcoin in light of the fact that you figure it will enable you to win more fiat cash than just holding your BTC?
In the event that you have a place with the main gathering then you clearly dependably take a gander at the BTC value, which lives you out of that gathering of individuals. In the event that you have a place with the second gathering at that point, notwithstanding when you likely take a gander at the USD cost, at this point you should know the progression of this market and comprehend that if bitcoin's USD value falls, your alt's USD cost most presumably will fall as well and you should simply sit tight for it to go up once more. In the event that you don't have a clue about that, at that point you're your very own casualty obliviousness.
We should not adjust the market to your numbness, we should attempt to teach you so you don't hurt your own particular pockets (and our own either).
At last, I should address specifically this current content's decisive point. "The pairings should be in fiat". This misses the general purpose of what digital currencies were made for, and essentially says "we can't give whales a chance to control the market, we should simply give the FED a chance to do it".
What do you think?
