Why Only Bitcoin To Decred?

Discussion in 'Marketplace' started by Ayush, Mar 3, 2016.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. Ayush

    Ayush Full Member
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    Jan 9, 2016
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    Can anyone please explain Why only bitcoin to decred conversion is available?
    This means that decred price depends on value of bitcoin value. If bitcoins value falls so does Decred coin's value too. If I am wrong someone correct me.
    But why no direct conversion from Decred to any other currency is available?
     
  2. LastNinja

    LastNinja Full Member

    Dec 31, 2015
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    Because nobody will invest a few million USD/EUR to hire lawyers on differenrt continents and implement KYC/AML and 250 other laws so he gets a permission to do anything with government money currencies. Plus you have all the fraud with fiat payment networks. That's why intelligent people like shapeshift stay away from that and remain within crypto world.
     
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  3. Ayush

    Ayush Full Member
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    Thanks. But what about the value fluctuations. As bitcoin value reduces so will decred's value too right?
     
  4. Kandiru

    Kandiru Member

    Feb 21, 2016
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    Not necessarily, but in practise yes. If enough people wanted to buy Decred for $X price, then bitcoin changing against the $ wouldn't affect the Decred->$ price, as the Bitcoin->DCR would adjust.
     
  5. Ayush

    Ayush Full Member
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    But people buy then with bit coins. So value has to fluctuate right?
     
  6. Kandiru

    Kandiru Member

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    #6 Kandiru, Mar 3, 2016
    Last edited: Mar 3, 2016
    Well, if the bulk of DCR was bought by people doing $->BTC->DCR all in one go, then the $->BTC rate is pretty irrelevant. But, if most people are actually doing BTC->DCR, then it matters a lot.

    So essentially yes, at the moment DCR is tied heavily to BTC price. But that doesn’t *have* to be the case, even without a dedicated $->DCR exchange.
     
  7. drunkenmugsy

    drunkenmugsy Sr. Member
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    While it may seem that DCR is dependent upon bitcoin price reality would be incorrect. DCR is priced at what the market thinks it should be priced. It just happens to be measured in BTC depending on what exchange you look at. bittrex.com for example shows DCR price in BTC and USD. Not all exchanges do as directly as bittrex.com.
    The only way DCR is tied to BTC at the moment is if you want get get out of DCR to a fiat currency or the reverse, fiat to DCR. Then yes you must go through a BTC exchange. But then this is true for most crypto currencies at the moment. Thank your government and their fiat currency laws for this.
     
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  8. Ayush

    Ayush Full Member
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    Thanks for that.
     
  9. in-cred-u-lous

    in-cred-u-lous New Member

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  10. Kandiru

    Kandiru Member

    Feb 21, 2016
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    I haven't seen BTS before, do you have any experience with it?
     
  11. ClokworkGremlin

    ClokworkGremlin Sr. Member

    Jan 10, 2016
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    Whatever I want.
    I don't know. When the value of USD goes down, does the value of Bitcoin go down along with it?

    (no. It doesn't. In fact, it goes up.)
     
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  12. Ayush

    Ayush Full Member
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    K cool.
    Thanks.
     
  13. develCuy

    develCuy New Member

    Jan 4, 2016
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    It is not a bad idea to implement an exchange that is based on DCR rather than BTC. I'm really curious about how it would work. Guess it will be useful for people coming from other cryptocurrencies, they would convert straight instead of relaying on BTC with added commission and transaction fees.
    If you agree with previous statement, what coin (appart from BTC) should that exchange support first? LTC->DCR? NMC->DCR? DOGE->DCR? something else?
     
  14. ETH->DCR, DGD/DGX->DCR, DAO->DCR just to name a few.
     

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