ALT —> BTC —> fiat wrecks BTC:fiat. This is not an efficient market. Arb b/w ALT:BTC + BTC:fiat markets is not sufficient. Therefore BTC gets dragged down. Bitcoiners calling for altpocalypse are shooting themselves in the foot. Biggest usecase for BTC is alt trading.
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Replying to @panekkkk
BTC Hodl is a bigger use case than BTC used for trading shitcoins. E.g.: those $12B+ of BTC parked in Xapo’s vaults aren’t trading shit. Most major BTC hodlers aren’t active shitcoin traders. Alt trading volumes are insignificant in the grand scheme of things.
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Replying to @MustStopMurad
In your mind sure. But there’s an entire ecosystem that cares only about fiat and doesn’t give a shit about hyperbitcoinization fantasies. Sadly, BTC’s value rises and falls w/ this market. It’s a symbiotic relationship and that’s objectively clear. Foolish to think otherwise.
1 reply 0 retweets 2 likes
BTC is dropping far less than your beloved shitcoins and that is of critical importance. This is proof that as of now BTC is literally a better SoV. BTC is a proven product while all other coins are speculative. That’s a fact of life.
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