Confused

John asked 3 weeks ago

I am a newbie. I noticed on bittrex that it has a BTC-BCC and a ETH-BCC with 2 different prices; does this mean that each are offering a coin. Excuse me I am an old guy, but I am confused.

1 Answers
Steven Hay answered 3 weeks ago

Hey John,
 
OK, so BTC-BCC and ETH-BCC are what’s known as pairs. In other words, they’re the price of one thing against another. Some common examples of pairs from traditional finance are USD/GBP, meaning the price of British Pounds against the US Dollar. When you see price quotes for gold or oil, these are in fact GOLD/USD or OIL/USD pairs, except the USD part isn’t generally mentioned.
 
So BTC-BCC is Bitcoin priced in Bcash and ETH-BCC is Ethereum priced in Bcash. These are slightly confusing examples, as usually other cryptocurrencies are priced in Bitcoin not Bcash – Bitcoin is the “gold standard” for pricing other cryptos, just like the Dollar is the standard for pricing things like gold or oil.

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