Coinmarket cap ranking becomes new GOD and Central Bank

[KingScorpio]

did you folks realize that Coinmarket cap information output has become a fact or reality creating beacon?

arent you affraid about the pyramid of power that are now beeing placed on the top of coinmarketcap, and the people runnning it?.

market capitalization means nothing than dokumented exchange price, times total ammount of token,

but this can easily be faked by anyone making a bigger cryptocurrency,

so tell me,

why is coinmarket cap allowed to be the god of cryptoeconomics?

regards

[NorrisK]

Isn't any marketcap determined by multiplying current trading value by the amount of stocks in circulation?

Coinmarketcap does not determine the price, nor are they the only ones reporting the prices.

I bet a lot of people even use regular trading platforms to track the price of bitcoin.

[trumper]

This is decentralized world, if something evil happens in coin market cap, there are lots of competitors which can offer people decentralized or more trustable alternatives