It's not a semi valid point it's a 100% valid point. Satoshi is the lowest denomination of BTC, it has nothing to do with how exchanges coding works.
Listing in litecoin is essentially allow to divide further. ie, 20litoshi is roughly .5 satoshi. So no, 1 satoshi isn't the floor.
Furthermore what you see here with those huge sell walls is a by product of high coin supply. People forget that in trading, numbered values mean nothing, what is relevant is %. So you have a spread of 100%. It's like saying in forex you could only buy or sell at 1$ and 2$, obviously you are gonna have huge walls, you are talking about doubling the value with the spread.
Having a litecoin market would actually be beneficial. People see going to litecoin market as a failure, but it's nowhere near that. Having Having a litecoin market would mean you can trade at 45litoshi, or 47, or 68, or 250. It makes for healthier spreads which removes the incentive of buying at floor and selling at ceiling.
I think you missed my point... if both exchanges delisted BTC/KARM trading pairs and switch over to only LTC/KARM pairs then effectively there is no BTC price.
this also takes the floor out of the market and allows any manipulators to drop the price even further.. resulting in far less commissions for the exchange.. so again I would suggest that no exchange in their right mind would take that risk.. it just simply is not in their interest to do that considering that LTC trading volume is about 1/5th of BTC trading volume.
the much higher risk, and what caused many people to move their money out of coins like Doge, Karm etc and into safer coins is that one of these secondary market exchanges could end up being hacked just like Mt Gox was. The more cryptocoins you list the more doors you have on your exchange for thieves siphon off coins via transaction malleability.
coinmarket.io claim that they were down in order to fix their code to prevent this... (did they preemptively fix the problem or are they recovering from a successful hack? who knows)
mintpal? crapsty? (no news is good news right? or is ignorance bliss?... who knows)
and for what its worth.. I'm still waiting for my BTC withdraw to come out of coinmarket and its been days... sound familiar?
they claim they are processing the backlog manually now.. that sure sounds familiar!
so in short.. we can argue about spreads and liquidity all day long but that is just sidestepping the real issue.... and that issue is something we cannot control.. a spooked market... every other issue (over supply, lack of liquidity etc) will be taken care of by the market.
meanwhile many miners have bills to pay so if they cant mine any profitable coins they are forced to dump.
so in conclusion.. what i'm simply saying is that sometimes the best course of action is.. inaction...
You are about 100% wrong on every word you said. Please re - read my post explaining EXACTLY why trading at 1 satoshi is highly detrimental.
There is only 2 solutions, one, to have more decimals (ie trade in litecoin). Or 2, that the market cap increases about 25 folds. And the problem with solution 2 is that there is no adequate trading possible because of 100% spread. So it only leaves solution.
You based every word in tour post based on your based feeling that a litecoin market would mean it could drop further. And sure it can, but it's also the only way to see it increase.
The best way to explain the phenomenon to an uneducated would be if you want to buy a toy for 100$, and they are for sale at 200$, what would usually happen? You would meet somewhere between 125$ and 175$ for the final sale. But both are firm, you won't buy for more than 100$ and he won't sell for less than 200$. There will be no sale. So the supply and demand is 0 if you discard the arbitrators (those buying at 100$ and selling at 200$), which have no intention of losing potential 100% profit sales because they would lose their place in queue to be the sellers if they tried to sell at 200% profit, so they just keep buying at 100$ and selling at 200$.
That creates huge walls, and not only the walls you see, but also the walls "to be", if a lot of people start buying at 200$, they are just happy to sell more. The only way for the price to pierce that is that the demand exceeds the arbitrators volume, which, in this competitive market, will just not happen.
