@saifedean Altcoins lead to market distortions (most altcoins are 21st Century Pogs) &amp; arbitrage. Other assets (stock, gold, US$) inform $BTC price &amp; price discovery info flows asymmetrically from  to altcoins. Altcoins valued incorrectly because speculators use $BTC price as metric https://t.co/hwriWFe9K5