Poll: Is sub-billion dollar marketcap any indicator of success? 3 days only!

[Trollero]

Well, what does everyone think?

[futureofbitcoin]

It depends on what the purpose of the altcoin is. If it's to imitate bitcoin and tries to become a global currency, then it should have a market cap much larger than 1 billion, and much larger than bitcoin's marketcap currently.

But like andreas said, this technology will eventually enable even kindergarteners to create their own currency. Just as the internet enabled millions of people to share their ideas, thoughts and opinions via blogs, cryptocoins may allow many thriving communities with their own coins, for whatever use.


In some cities/prefectures in Japan, they have their own local "currency", like "goodwill" money and so on, where you get some for doing good deeds like helping the elderly clean their homes, do their laundry and take them out for a walk and stuff like that, and you can exchange it in the shopping district for freebies, or to get a similar service from someone else.

I could see crypto being used in such a way that it will invigorate a local community, and be quite successful within the community, but will not have a big marketcap or even any "real world money" equivalence.

[Snail2]

I agree with futureofbitcoin, it depends on the purpose of the coin. E.g. if I make one for using it let's say as Minecraft in-game currency and many/most servers are using it then it's a great success even if the market cap and the exchange rates are something next to zero on the exchanges. Actually that could be really good if I want to keep it as an affordable cheap in-game currency.

[callmejack]

everything depends on how market cap is measured.
you can only measure market cap when it is possible to directly convert the coin into dollars.
even if this is possible you cannot simply sum up what the current price tag is. you would have to estimate how the coins ecosystem reacts to big conversions.
this means you cannot simply sum up the coins in existence and multiply it by the average exchange rate.
another big point in terms of market cap is how people rely on services based on the coin.
if there exists a healthy ecosystem the coin can handle huge coin to dollar conversions simply because people also swap from dollar to coin.
to bring all this into a relation to archive some sort of "normalized" market cap is only as estimation possible.
in other words it means there does not exist anything like a marketcap of a coin which can be compared to another.
  

[Flyskyhigh]

Poll closed already? I can't vote.

[oblox]

Step 1: Create altcoin with 100B coins
Step 2: Premine all coins
Step 3: Sell 1 coin for $0.10 usd
Step 4: Profit

Market cap alone is a stupid measure in crypto. There are more meaningful metrics like transacted volume (although this can be faked with no-fee exchanges), utility, address and tx growth, etc.

[pandher]

Marketcap is no measure of success

[Rent_a_Ray]

Your question assumes that BTC is a success, am I right?
Here is the mistake! It's a success for a small amount of individuals.
3.6 billion (US-billion = 1.000.000.000) dollars (altcoins+BTC+assets) is not more than dust.

Cheers,
Ray

[Litoshi]

MarketCap is like breast size..... everyone likes large, but size has no relationship to function.  

Success of an alt coin should be measured by its appeal, adoption, and daily use.  

BTW, why did you feel it necessary to create a new avatar for posting this poll? 

[Trollero]

Much thanks for everyone that voted or shared an opinion so far, it means a lot to me that you've come here and voted or shared an opinion.

My opinion, from here until the end of this post, is that the root of all arguments here is that a marketcap is used as a tool to detract from any focus on legitimate conversation or progress.

It hasn't been about whether or not one guy's right, and the other's wrong.

It hasn't been about this one's a scam, and that one's not.

It hasn't been about protecting money from being lost by innocents.

It hasn't been about one guy putting out more work than another.

It hasn't been about the start date, instamine, scam mine, fast mine, crippled miner, pseudo-dev, scam-dev, emission-changing, obscured truth, fake volume exchange, critically flawed, not PoS, not PoW, not DPoS, not some hybrid, not anon, not transparent, not scarce, not supported by a community, not grammatically correct, not profitable, not proven, no whitepaper, too much marketing, or even manipulated aspect of the coin.

It has been about the reality that the entire community here just can't get past the fact that the people throwing money at these things want a real bloodbath battle between this one and that one. A million dollar marketcap just isn't going to pay for it.

It's not going to give the fireworks necessary to convince people of one thing or another, because they're looking at it as if one puppy is trying to mortally maim the other.

One cub, fighting for the teat to out-starve the other. One chick, fighting for the mouth at the detriment of the other chicks. One stooge pulling the other to the back of the very short line. Psychologically, if you can handle the reality, being a predominantly male culture on this board, we're literally making a measure of success based on a 5.101" donger vs a 5.1065" donger without regard to flacidity.

Everybody knows it's not time to kill each other off, so it's not that you're wrong or right, it's that there's not enough people or money here, and nobody's willing to admit that nobody here is strong enough or right enough to kill off a competitor. You are all people I'd be interested in holding these things with, until the end.

I've conducted this poll, because someone I care for greatly, and many other people I care for greatly, have become so stressed out that I legitimately worry for their health. I'm sorry if that's selfish, but if it isn't the lack of people here that will kill us all off, it's going to be stress. It's just not yet time to draw such lines between friends, or potential friends.

Stop stressing out over something that comes naturally with age. Stop pressuring me, and other people, into saying things that I'm not ready to say, even if we're willing to say it because we believe in you and trust you and will probably follow you until the end of this.

So please, go back to being heroes again, and look at the stars instead of the finger.

[Trollero]

Your question assumes that BTC is a success, am I right?
Here is the mistake! It's a success for a small amount of individuals.
3.6 billion (US-billion = 1.000.000.000) dollars (altcoins+BTC+assets) is not more than dust.

Cheers,
Ray

I agree Ray that that's an option, that's why I added these two options:

The marketcap would need to be much much greater than 1 billion dollars to even begin to measure success
No, marketcap is not an indicator of success in any way

Or, if you think it's more than that: I have a different opinion of marketcap, and may like to share it in this thread.

Sorry if the implication was that litecoin, ripple, doge?, and bitcoin may have garnished some measure of success between each other based on marketcap.

[kiklo]

Your Question is dependent on the Goal behind the Coin .

If the goal is to pump the coin to the highest marketcap and then sell to become rich, it becomes very important.

If however the goal is to make the coin into a true form of barter to be used by people , then extremely high marketcaps make little difference in that case.

Having said that, IMO a coin does need to at least keep a market cap over $50,000 to be considered useful.
As long as it stays above that , it is stable enough for use.

IMO , price of BTC will continue to drop as it is more accepted by merchants that immediately convert it to cash, this can only have a downward effect on it's price, but at some point it will stabilize and then actual value of it will be measured by its use and then it's price will rise based upon that use.

 

[Rent_a_Ray]

MarketCap is like breast size..... everyone likes large, but size has no relationship to function.  

Success of an alt coin should be measured by its appeal, adoption, and daily use.  

BTW, why did you feel it necessary to create a new avatar for posting this poll? 

Agreed.
One good example is Paycoin... (Shut up, Ray!!!!)

Cheers,
Ray

[Trollero]

MarketCap is like breast size..... everyone likes large, but size has no relationship to function. 

Success of an alt coin should be measured by its appeal, adoption, and daily use. 

BTW, why did you feel it necessary to create a new avatar for posting this poll? 

All of this I agree with as well, I will post here with my current main profile from now on.

Mostly it was just to get people to post here, rather than assume I want to shill.

[jerelimZ]

well is a sub 20$ coin market cap good??

What kind of question is that.. All alts together are worth less then 1B.

This is a silly thread!

[SuicidalTendencies]

Guldencoin has the most use of all ALTS under 1 million USD marketcap. Over 88 merchants in the Netherlands and they have Nocks where u can use guldencoin to pay with at any place that accepts bitcoin, which actually makes it more usable then bitcoin to .5 btc worth as there is a few offline merchants they have that only accept guldencoin.

I laugh when I see coins above guldencoin in marketcap because I know those marketcaps won't stay high for a long time.

[Rent_a_Ray]

Guldencoin has the most use of all ALTS under 1 million USD marketcap. Over 88 merchants in the Netherlands and they have Nocks where u can use guldencoin to pay with at any place that accepts bitcoin, which actually makes it more usable then bitcoin to .5 btc worth as there is a few offline merchants they have that only accept guldencoin.

I laugh when I see coins above guldencoin in marketcap because I know those marketcaps won't stay high for a long time.

And here is your answer, Trollero...

Marketcap is a nice invention, but it has nothing to do with reality.

Cheers & good night
Ray

PS: Marketcap is the sillycator of investors. It's not more.

[romerun]

maybe the default ranking should take market depth or the sum of long side in the orderbook into account

[BlockaFett]

Looks like yet another pre-skewed thread / poll to push Monero / Trollero FUD down people's throats again.

The idea of this one is obviously to get everyone to say "market cap is not important" so that:

a) Monero market cap falling off a cliff recently doesn't reflect so badly on them and they can still pump

b) they can try to say that their competitors with more market cap, Dash, Bytecoin, are not 'better' because 'market cap doesn't matter' during there FUD storms that we have all come to love so much - "look...we wasted the valuable time of people from 500 alts to get something we can use try to convince CoinMarketCap to comply with what *Monero* wants instead of their current ratings system".

They are already bum-rushing the Coin Market Cap thread to bully the poor admin Gliss to change their ratings system to now include "instamine" so their 2 main competitors can be black listed https://bitcointalk.org/index.php?topic=199685

And all this because they can't do 1 hour of development and innovate like everyone else...how pathetic.

EDIT:

WARNING TO CRYPTO COMMUNITY

If you value CoinMarketCap.com as a trustworthy source for accurate and objective information...

..and you don't want Monero/Trollero to try control how CMC lists and ranks coins for Monero's benefit...

...Then DO NOT VOTE HERE - you are just giving the Monero Core-Devs ammunition for their ongoing harassment of the admin Gliss on his CoinMarketCap thread to ask him to *change his definitions* to black-list each of Monero's competitors and try to rank-up Monero through the usual bullshit instead of innovation we have all come to expect from them.

[G2M]

Looks like yet another pre-skewed thread / poll to push Monero / Trollero FUD down people's throats again.

The idea of this one is obviously to get everyone to say "market cap is not important" so that:

a) Monero market cap falling off a cliff recently doesn't reflect so badly on them and they can still pump  and

b) they can try to say that their competitors with more market cap, Dash, Bytecoin, are not 'better' because 'market cap doesn't matter - look we wasted the valuable time of people from 500 alts to try to convince CoinMarketCap to comply with what *Monero* wants.

They are already bum-rushing the Coin Market Cap thread to bully the poor admin Gliss to change their ratings system to now include "instamine" so their 2 main competitors can be black listed https://bitcointalk.org/index.php?topic=199685

And all this because they can't do 1 hour of development and innovate like everyone else...how pathetic.

Let it go.

I'll go buy some Dash, just for you buddy.