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RE: BTC emergency update 21.01.18
Since there is so much FUD in the market at the moment, I have reduced my portfolio to mainly EOS and STEEM as the future of blockchain technology. I was never a fan of BTC and wish it would be replaced by another scalable and stable coin - it´s simply annoying, that all altcoins depend on a dying technology like BTC.
that is because almost all trading pairs are against btc. So when BTC value goes down alts dip hard as well. A true trading pair would be against USD, USDT or native currency. I truly blame the exchanges for it. If most coins were traded against fiat you would see bitcoin not affect other coins as much.
True and I wonder, why the exchanges have so much power? What is their "official" reason to do so?
It just makes no sense....