RE: Just some of the many arguments against Bitcoin market dominance

Totally agree with you, this situation is a call for trouble. It is completely idiotic that all the market moves with dependancy to btc price.
But the solution is not simple. You either need to give every coin the ability to be traded against every other coin, which is a lot of work, or you need to trade all the coins against fiat only, which goes against the sentiment of replacing fiat by crypto.
Anyway, none of the current big players amongst the exchanges will do it because they are heavily invested in btc and the "strong support" as you called it is very very good for them.
In order for this to happen people need to stop using exchanges with btc as the only "main coin" (which is virtually all of them) and since 99% of folks in crypto are in for a quick buck and probably never heard of anything below top 5 on cmc, the chances of that are nonexistent.

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digitalfirehose (58) 7 years ago

I am an optimist. I believe that people will do one of two things, mostly:

Get their own wallet and keep their coins there.
Look for and use decentralized exchanges like Open Ledger where they get a wallet and the coins are not in someone's hot wallet and/or pegged at some market price while being backed by something else.

I was totally ready for someone to come bite me on this article, but it's still young yet. I'll see about getting a bot to add some exposure and see what comes back.

Thanks for your comment.

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