Sorry for maybe random question but I have just realised that although i have been following a OMGUSD trading pair on bittrex (which is where i trade), I can only actually trade the OMGUSDT pair on bittrex which is a quite different looking chart with price action. Where is TV getting this OMGUSD bittrex chart from if there is only a USDT option? I've checked a bunch of times. Am I still missing it? Maybe its a regional thing?
VanBenno
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@Cherity, The chart isn't from Bittrex. It's from TradingView, so they will be different. You can set the variables as you like. TradingView charts are highly customizable. Anyway, USDT is going to follow USD as closely as possible in price. That's kind of the whole point.
Even though it *is* a centralized sort of "magic money" that Bitfinex seems to just pull out of their hats. I doubt that if everyone on earth who holds USDT asked for their fiat in CASH that they would actually have even a small percentage of the sum requested.
Then again, I'm not sure how they engineered it.
cheretic
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@VanBenno, Thanks for that. :) The TV Bittrex OMGUSD chart isn't a nice chart anyways. Lots of extra noise. But yes I would rather not have to use USDT.
vorapoap
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@Cherity, It depends on people, if you are comfortable trading against BTC, this chart doesn't mean much.....
From the time being I am more comfortable with USD pair, but this may change in the future.
Crypto = Bitcoin. If Bitcoin is gone, all altcoin coin will be gone with it.
cheretic
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@vorapoap, I disagree, Crypto = Blockchain technology. Bitcoin wants to be a alternative kind of money, which its not particularly good at. Whereas Blockchain tech is about transactions. Thats why my money is on tokens of Platforms, Decentralised Exchanges and Clearing Houses. Doesn't matter what currency comes out top dog. Like selling the pickaxes and shovels to the people in tho gold rush. Thats not to say that BTC isn't currently driving the market. But it wont be forever.
vorapoap
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@Cherity, In my heart, I really believe in what you say.. But the effect of Bitcoin price always affect the rest of crypto market.
In the future, we will soon see this picture more clearer that all coin gonna not rely on BTC price.. But for the time being, They depend a lots on BTC.