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RE: Will Steem and other altcoins ever move out of Bitcoin Shadow?

in #news7 years ago

I don't see bitcoin not remaining as the driving force behind all other coin prices so long as it is treated as a reserve currency coin, similar to the way the US Dollar is treated as the worldwide reserve currency (via https://en.wikipedia.org/wiki/Bretton_Woods_system).

At least unless and until exchanges are setup to permit direct alt-coin to alt-coin trading. For example... I see no way to trade BurstCoin for SteemCoin, I have to trade BurstCoin for Bitcoin on Exchange X, transfer to wallet, then trade Bitcoin for SteemCoin on Exchange Y.

The use of bitcoin as a defacto alt-coin reserve currency can also make it a bit expensive to even try do so such exchanges, further providing a stumbling block for alt coins.