A few days ago, the American Tech-Portal Venture, has led to an interesting Interview with the CEO of Coinage, Chad Pankewitz, Beat. The core message: in the long term, get rid of the crypto-currency market from the strong binding to Bitcoin, is to develop each project individually.
In the Interview, Chad Pankewitz, what is his vision for the future of the crypto-currency to trade said (freely translated):
“From a long-term perspective, we want to take a position, and the first steps to rid the market of Bitcoin. There are thousands of projects in the crypto currency sphere […]. Each has […] his own Benefit, his financing, his community and his business model. We are of the opinion that the valuations of these companies should not be on the Bitcoin-bound, and that they should be measured on their individual merits in the same way as a traditional stock market.“
From our point of view, this view is very good to understand. The Bitcoin is as a “reserve currency” for the entire crypto-sphere is extremely important. As we have already reported more frequently, follow the Altcoins that of the benchmark, very often, in its course of movement. Positive messages and technical development seem to be at times, especially in Down-Trends, to have no weight. This observation has also criticized the founder of Litecoin, Charlie Lee, least of all publicly and talked about it.
A main reason for the dependence of the prices of the Altcoins, Bitcoin is certainly the fact that most cryptocurrency exchanges Bitcoin as a main or even single Trading partners for certain Altcoins. Few exchanges offer Ether and Tether as exchange partners, even fewer, for example, NEO.
Crypto-currency exchanges that offer Fiat exchange couples rarely and usually offer only a very limited amount of crypto-currencies to exchange. The use of Bitcoin, therefore, is often the only way to buy lesser-known and new crypto currencies that have not yet found wide dissemination.
The CEO of Coinage, therefore, considers that the market needs to grow about Bitcoin, in order to have a sustainable future (freely translated):
“We have a stable side of the Handelspaars, it allows the exchange to control the risk better and the customers more advanced products, Margin trading in Altcoins, short sales, and – in the future – derivatives on a broader range of assets to offer.”
From the point of view of the investors and traders this brings in the view of Pankewitz also advantages (freely translated):
“For our customers, this approach brings a couple of things. In Trading and Investing, it is much easier to see the Numbers in dollars to the Bitcoin terms. It is crazy that we pay these difficult decimal, such as, for example, BTC 0.0014758, Trade show. We want to bring the simplicity back in the Trading-Crypto.“
Even if Pankewitz has with his statements right, it is important to note from our point of view, the Bitcoin is just because of the previous explanations are a critical part of the crypto Ecosystem. As in the past few months, showed that Bitcoin, in particular, in “times of crisis,” a safer system. In comparison to many Altcoins will lose BTC are usually not quite as much as many of the smaller Altcoins. While BTC is “only” around 68% away from its all-time high, are, inter alia, XRP 87%, BCH 82%, Cardano 89%, IOTA 81% and TRON 86% from their all-time highs.
Bitcoin is currently the safest, most valuable and most-traded crypto-currency. In addition, Bitcoin is also a figurehead, which currencies, for newcomers is usually the first point of contact with Crypto. Bitcoin is the first Krptowährung was also at all.
Regardless of many Altcoin supporters expect a “Flippening”, in which, for example, Ethereum, Bitcoin obsolete in the market capitalization. Although Bitcoin has lost in the last few years of “dominance”. Nevertheless, Bitcoin has currently 42% of the total capitalization of the crypto market.
Disclaimer: — trading in crypto-currencies carries a large financial risk, and can be up to a total loss of the invested capital. Coin-hero.de does not constitute investment advice and recommendation within the meaning of the securities trading act (WpHG). The website content is intended solely for the Information and entertainment of the reader. The statements made here represent only our own opinion and not a recommendation to buy. Please do your own research, before you invest in crypto-currencies. We do not accept any liability for any kind of damage. Please also read our disclaimer in the imprint. —