Bitcoin Forum

Recently I stumbled across some unknown altcoin called 42-coin which is selling at more than $20000 on coinmarketcap. This makes it twice as valuable as bitcoin, and here I use the word "valuable" specifically referring to selling price. Then there are other altcoins like Wrapped Bitcoin and RSK Smart Bitcoin that are nearly as valuable as BTC.

Here is the list of top 10 coins sorted by price. As you can see the list is dominated by weird altcoins:

https://i.ibb.co/LCS22Hr/Screenshot-2020-02-02-All-Cryptocurrencies-Coin-Market-Cap-1.png (https://ibb.co/301LLQv)

I get that coinmarketcap is notorious for listing fake trading volumes, but how these coins became valuable while having practically no market cap is dumbfounding.

Check the colon named "Circulating Supply", there are only 42.42 42 coins in circulation.
That's the reason a single 42 coin is more expensive or valuable than a Bitcoin where roughly 18mio are in circulation.

42-coin is an old coin, it was founded in 2014 and mainly it was focused on the developer themselves instead of becoming another payment system. As far as I know, nobody is holding a single coin because of its scarcity, another reason why CMC still lists it despite it has little volume because the coin has an exchange to trade and CMC collects the price based on exchange API. Nothing strange if you are already long enough in this ecosystem, everything seems possible here.

you should compare their Market Cap because the Market Cap is calculated from the value of the coin and their Circulating Supply,That is the true value of the coin, so The price of some altcoins may be higher than bitcoin because of their rarity, there is currently no altcoin worth more than bitcoin.

Wrapped Bitcoin should be worth thesame as Bitcoin,as it is backed by the price of Bitcoin. It's basically what stablecoin is to fiat currency.

This is actually my first time of seeing 42-coin.. . I'm a bit surprised.    It has one of the lowest supply and circulating supply in Crypto market. It had an even more surprising All Time high: $992,883 USD (Jan 14, 2014).
 Those are probably why the price is this high-end

When the developers itself buying and selling those coins on shit exchanges then these much valuation is still possible but we also have to notice the total marketcap value of that coin to avoid investing on shit bump and dump coins.

yes its very possible, these coins are not even on top 20 list on coinmarketcap, let's start from Max supply, few coins have very low max supply thus making them very very costly more than bitcoin itself, mind you this doesnt mean they are better

All the alt you say are correct and can be traded, it's just that there are other reasons that make the price the same or higher than Bitcoin. There is no need to doubt, because from the table you have given it is enough to be understood, but don't expect if the alt are worthy and comparable to Bitcoin.

We never know but it is possible for sure but it doesn't mean it is going to happened since bitcoin is already established a big community for sure more than altcoins or other tokens.
This is only possible is an altcoin is going to click like what happened to bitcoin and become so popular but as of today these tokens tend to have a bad image so I don't think it is going to be easy to surpass bitcoin when it comes to pricing, we know what experience and developments happened before bitcoin has this thousand dollars price in the market.

I too was unaware of this but that coin do have an announcement thread here in bitcointalk. https://bitcointalk.org/index.php?topic=1502028
It's limited in supply. 42 total. It's all time high was $805641.
Almost all of it's volume is coming from Livecoin, an infamous exchange. It pretty much explains the price as it could just be a fake number.

Well, 42-coin and wrapped bitcoin have different stories. The Wrapped bitcoin is legit as it is backed by the price of the bitcoin. But the 42-coin is none and you can definitely see how many coins are circulating on its ecosystem. Almost none right?
Just try to avoid acquiring shitcoin and that's it, --Coinmarketcap can show you all the cryptocurrencies registered on their data but it doesn't mean that everything on the Coinmarketcap are legit. Indeed, most of the coins registered there are shitcoins so be careful still.

Since there are over 18 million Bitcoin, it is very easy for altcoins to be worth more then Bitcoin is worth. You just put in protocol that there are less in existence. If there would be 18000 Bitcoins, each of them would be worth 1000 times more, so $10 million

Oh I have seen  the first coin before, it is definitely one of the oldest crypto in the market , but OP take a look at the 42-coin's circulating supply, it is 4242 and now make a comparison  with Bitcoin ( more than 18 million BTC of CS ), so there is a huge difference between them even in the value of market cap and volume, and the same thing for the second coin " Wrapped Bitcoin".
In fact, the old altcoins are not always gold except Bitcoin ,It will certainly remain on the top of cryptocurrencies.

First time I read that coin and would not even think of buying that coin even though it's an old coin I consider this a shitcoin and I don't know why the price is that high maybe because of the supply, only 42 coins supply quite different just when every developers are creating billions supply of coins this one has done the opposite.

There's only 42 circulating supply for that coin and the volume isn't really so high. I've seen in the past that there's also another altcoin that costs more than bitcoin but it's likely to be a scam and was created just for the devs to make money.
Just ignore these coins, they are nothing honestly.

Supply matters a lot to determine the price of shitcoin that can worth a thousand dollars for each but it looks like OP must ignore it as the majority of the dead coins without volume.
OP must understand how the market works today. I guess if that is not a real price but it's the price caused by the pump and dump that created by the whale.
Maybe those coins worth a lot of money but they are garbage coin without any usefulness. 42 coins is a dead coin.
It has no buy orders and the exchange site is also helping them manipulate the price.

Those coins are very far from bitcoin in terms of marketcap that 42 coin has only $353  volume what a joke coin. Look at the Circulating Supply 42 coin has 42 supply and wrapped bitcoin is 622. And be aware those coins are not trading as a whole coin for sure probably 0.0001 or lower  :D they reach that price because of the low supply.

This is not a new coin, I saw this coin in 2017! And that time this coin's price was far higher than Bitcoin, lol! But Look at the volume mate! No one is buying this coin, no developers. It's a pure joke, nothing else.

take a look at the supply and you will see why the price of each coin is higher compare to btc. You dont need to look at the volume since there will be no more buyers want to buy this coins.
There are more other coins before but they are delisted now in exchange.

The supply is so small only 42 so that would be really expensive esecially if the coin is traded by only 1 user and play with the price. I heard of this project too before but obviously they dont gave anyone their coin. If your gonna buy this be careful cause it could be a trap they just wanted other's to buy this coin as it has so low supply. Good that you mentioned this because maybe some will be interested to buy this coin which is traded only by the developers.

this is my first time of coming across a coin that is more expensive than btc in price, i always thought btc was the highest coin in the market, but now i see a coin that is twice th value of btc, not only that i saw 42 coin ATH in 2018 was "$193,158 -89.4% Nov 25, 2018 (about 1 year)" according to coingecko :o this is unbelievable, i don't want to imagine anyone that had bought this coin at that price back in 2018!!
i guess the reason why the price is so high is because of the very small supply, according to one of the admin on their telegram, the proof of stakes does not give rewards but rather it is deflationary and remove transaction fee to make the price increase, literary mining without reward,

needless to say 42 coin is very cheap at this current price :o, i think this coin is controlled by a very few users, afterall the supply is small so very possible to see price skyrocket since nobody is dumping anything and there is no more extra 42 coin to be mined.

Sums it up. But I was a bit surprised though. And I even try to double check it, and it was real. However, the game here isn't circulating around the price itself. How big it may look like, majority of people here tends to considered a dead coin already, though it has a huge price in head.

It was definitely, controlled by a few users. So, the movement would just circulate around to the users who have it. So, once it already been consumed, what I mean, it turns to zero then it would be a farewell to such coin.

I am surprised with this, I never thought of alts would have bigger price over bitcoin. However there are some shady reasons behind that, right?

Livecoin is famous and one of exchange platform that I believe to some extent is decent. However, it could be because of the limited number of holders that are pumping the price. This is the very first time I will be seeing this coin. Anyway, just like the list has shown that there are altcoin with price higher than bitcoin, I do not see them as anywhere near bitcoin in term of dominance and market strengths. Non of the crypto available today is widely accepted more than the bitcoin. I have seen on multiple Reasons people quoting CMC without understand how CMC collect data that are being display.

I think the movement of coin prices depends on the demand at the exchange place, when they have a very good development on the platform and can make investors interested it will be very easy to make the price expensive, so not all coin prices depend on the supply.

I don't think there is demand on this coin go check the 24 hour volume only $124, I consider this coin a shitcoin and can easily manipulated because of the very small supply, in my own opinion supply can make an impact on the price and demand of the coin, go check but it will still go down to the platform and development of the project attach to the coin.

Some coins or tokens have fake pumps thus of the rise of value but if you look at it, there's really no volume. Thus the price is fake. And mostly if this happens, the possibility that the token is a shitcoin.

The first thing to consider in this case is the circulating supply, how many is the total supply and how many is in circulation. The lesser the number in circulation the higher the price, because it will be considered scares and those who held won't be willing to sell. Therefore it is obvious that the circulating supply is very low when compared to Bitcoin hence why the price is higher then that of Bitcoin. Owing to this supply of a thing, that's why most projects which value their platform tries to ensure they control the amount of coins in circulation while those who are after profit don't mind. Lastly, it is good to know that even though their price is higher than that of Bitcoin it can't be compared to Bitcoin in all other terms because those coins are hardly heard of even with their prices.

Such coins are not much more than a joke. 42 coin started as a joke and I am very suprised that it's still having ANY volumes at all. I'm wondering why any exchange would list it. With no incentive to mine it I could only guess that its network is probably very vulnerable to 51% attacks. Perhaps the volumes it even has on coinmarketcap aren't representative of reality. I now see there's also another altcoin above BTC but being a direct bitcoin fork I would guess it also doesn't have a great future. It only bets on having a big per coin value based on low maximum supply...

When I have seen the image you have provided, I was shocked to the extent that make me think that "how can it be possible for an Altcoin to surpass the dominance of Bitcoin?" Then I have zoomed it and see what are those coins and left me thinking that I have not yet encountered any of those projects yet so how can it be possible that they are having such prices yet they are not recognizable by the public? If there is an instance that any coin will surpass the price of Bitcoin, then anyone should be able to know it since it will be over the news but not a single thing happened so I guess it wasn't true and that was just my opinion because I haven't been bump into any of those coins before.

Taking a look on the circulating supply, it says it all; that is, the circulating supply is very small when related with the circulating supply of Bitcoin. When something is in small quantities, it tends to be expensive because those who have it will not be willing to sell it and if they want to, then it will cost a fortune, this applies in the outside world and as well in the crypto space. Thus, Owing to this small circulating supply the price skyrocketed because the coins are in the hands of only few people, who doesn't look like they are selling either. This is actually my first time of coming across such coins and I wonder if they really have any use case.

It's current price even if its higher than bitcoin is nothing if its' not profitable than bitcoin.
The thing is, bitcoin starts at a price of less than a dollar or almost worthless and rise up to almost $20,000, those coins didn't and they don't even have a good volume, they can only cause some curiosity on newbie but they don't look good against the experience investors.

Don't invest on them as you could loss your money when they dump, imagine with a very low supply, you seem like a major stockholder on a business that you are not sure if it has a good potential in the future, you are at big risk with that.

It is easy to create token that has a high market price in the market what you need to do is create a token that has a limited supply in the market just like what they are doing in an ICO.

If the token only has a limited supply and you created a token that the market price of the token should increase... It is basically what happened to that altcoins list.
But the point is bitcoin has a volume and also demand when most of the altcoins doesn't have, But still, it is not possible that there are altcoins that are costing more than Bitcoin but the post is bitcoin is always the best in investment, investing this token that has a high price in the market could not be worth like investing in bitcoin.

I see the volume is just a little, I often see coins like this and the price is above the price of bitcoin, but the end does not last long, so you should be careful if you see coins like this, it's better to stay away because you will surely lose your money if you buy that coin

Looking at how small the circulating supply of 42 coin make its price so expensive. It is also considered as a very rare cryptocurrency because of its price. It is rare because not anyone can afford to purchase one.

If you will check closely the graph, the main reason why that two currencies came on top is their circulating supply is very little and these are the other techniques of other projects also to increase their price.

Other projects are keep on burning their extra tokens or even buy again then burn it in order to lessen their circulating supply. The less the supply is the higher the price especially if the demand will also increase. And check also their market capital, they are very far from bitcoin and their only advantage is the price of their currency which is very high and the rest are stumbling.

I don't think we need to be stuck in prices because what needs to be seen is daily transaction volume or liquidity. It's useless if the price is good but there are no transactions at the exchanger and we can't sell coins or tokens easily.

I hold and trade 42-coin. It is well established. Has steady volume on Livecoin. And listings on Altmarkets and XBTS. Had the same dev, Lasergun, for years.

Please do your homework before you criticise it. Successful rare cryptos are extremely rare. Check its charts on CMC. When Bitcoin's dominance spiked last year, thousands of cryptos steadily lost value. 42 dipped, but then held steady.

Our development goal is to set 42 miners up with renewable energy sources.

Just because Bitcoin is the first of its kind doesn't mean it will be the most costly coin in crypto space, few rare coins have better value than Bitcoin, you can easily spot them using Coinmarketcap, it doesn't mean these coins have fake value or fake volume either, dyor

I don't think that you should call 42 coin as an unknown coin,

Maybe it is unknown to most people since only the top altcoins are the one that we most likely see every time but this 42 coin is really a rare coin and known by people who are in this community even before and we must consider its place on coinmarketcap due to its low market cap.

Well, the real reason is not actually the low level of coins in their market but more probably liquidity as well. It may look 20k and it may have low supply as well and the reality is nobody is buying it for $20k neither so it is a fake currency with no real volume and no liquidity and nobody is buying it or selling it neither.

There was however one that was seriously used and had a higher price as well back in the day, no idea what happened to it but back when bitcoin was around 400 dollars or so there was a coin that was 900 dollars or so and it was "gold" in its name (forgot its name) and that actually has some volume and liquidity as well and was used by people as well, it just vanished after a while though.

Bear in mind that most of these coins with high prices per token when compared with bitcoin comes in small supply and volume. There are many of such coins, the decimals are too much to the extent that most traders even shy away from trading with it. This is how far come the names sound weird to some people.

It surprises me that many of the posters here don't know basic mathematics. It is not the unit price that matters. In cryptocurrency market, it is the market capitalization that matters. And in that regard, Bitcoin is far ahead of the other coins. Take the case of fiat currency as well. For example, one Kuwaiti Dinar is equal to 3.27 US Dollar. But no one would believe you if you claim that KWD is more powerful than the USD.

Because they have low circulating supply (not many coins are issued), the price of one coin is calculated by this formula: total market cappitalization/ circulating supply.  :)

Of course because of Circulating Supply. 42 coin supplyed only 41.99 coin but other hand btc already supply 18.2M so of course this is the main reason why 42 coin value more than btc. I surprised this old coin still in CMC although it's a shit coin and not worthy to invest in my opinion. And clearly price tag don't show projects value. I hope you can more dig about circulating supply here (https://www.binance.vision/glossary/circulating-supply).

That's a good example to show the logic in this case. 42coin though the price is higher than bitcoin, are there many crypto users that are familiar and using this coin? Where can you use this 42coin? They maybe higher in price but the market cap is incomparable to bitcoin.

The price depends on the number of coins issued, on emissions and inflation. No need to pay attention to such Altcoins. ;)

That coin is really scarce for which the price of "42 coin" is really high (around 20k according to your charts). But this doesn't mean that the 42 coin is better or can take over bitcoin. The price doesn't really matter in this case. Look at the market capitalization. Bitcoin easily beats the market capitalization of "42 coins" and the latter coin is far away from the top. Compare the trade volumes too, you will see that bitcoin is one of the most traded crypto currency, where as 42 coins are rarely traded thus showing us that the demand for bitcoin is higher than 42 coin.

'There are many of such coins'

Nuh.

There is one other successful rare crypto. The 'hyper-deflationary' craze failed miserably.

42-coin is the only successful deflationary 'instrument' on Planet Krypto. Same dev since its re-launch four years ago. Provides both public and private txes. Got an encryption engine in its QT. Got long-timer community.

Check its 1Y chart. Hundreds of cryptos have not recovered from the spike in Bitcoin dominance that began in April last year. But 42 is outstandingly stable -- almost boringly stable. The community keeps the buy-sell pretty tight. It's traded on three exchanges.

And the world is heading into inflation/hyper-inflation.

P.s.: thanks to those on this thread who made accurate comments.

The price of these alts does not really indicate the value and are in no way comparable to bitcoin. Their total or circulating supply is often very low, giving them a small market cap.Also, Investors are not willing most times to take these coins as is often reflected in their trade volume,low trade volumes. The real value for many of them is far from those quoted,it can shed 90 percent in just 24hrs

This is not about the cost of a coin as anyone can create a very low supply to result a high cost, it's about how the project would succeed in the long run.
Bitcoin even cost almost worthless from the very start, but we manage to raise up the price because we believe on its potential in the future.

It's all in the numbers. And it doesn't really matter at the end of the day. Altcoins that cost more than BTC will have far less circulating supply.

Look at it this way. If you own 1 US dollar, you own 2 Singapore dollars, or 14,500 Indonesian rupiah;) That's normal right?

Volume should be one of the criteria to judge whether a coin is valuable or not. Most of the coins mentioned when compared with Bitcoin have very low volume. So, you cannot imagine buying and finding it difficult to liquidate your fund, when there is a need for it.
Maker and other forks with very low prices are still okay. BSV also has controversies for quite some time.

I know 42 coins are quite long and indeed the price is very expensive than the price of bitcoin. That's natural because it has a small supply. Even so, they still can't beat bitcoin.