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Are you sure that's the case for non-US crypto startups? Also, there are some ERC20 tokens that have better liquidity with the BTC pairing.

• DennisP 9y ago
  It's true of almost all ICOs launching ERC20 tokens because on Ethereum you can write code that automatically turns your ETH into ERC20 tokens. A couple pages of code and it all just happens on the blockchain by itself. If you take bitcoin contributions, you need something offchain to track who contributed what, and issue a bunch of minting transactions. Some ICOs do that, but if it's ERC20 that's generally in addition to automated minting via smart contract, and since the token and ICO are running on the Ethereum blockchain it's predominantly ETH that gets contributed. Liquidity on exchanges later doesn't have much to do with any of that.
  • cslarson 9y ago
    Most SNT trading is against BTC on the Bittrex exchange. It's 5x the trading as against ETH. https://coinmarketcap.com/assets/status/#markets https://coinmarketcap.com/assets/status/#markets
    • DennisP 9y ago
      You're talking about trading after the ICO, I'm talking about the ICO itself.