What the hell is asset backed coin? Number 10 on coinmarketcap?

[nextgencoin]

I looked at the website, any thread here to learn more. A scam?

http://coinmarketcap.com/

[bathrobehero]

$7,967,960 marketcap with $23 trade volume.

Shows nicely why marketcap is nothing but a useless number in crypto.

BCT thread: https://bitcointalk.org/index.php?topic=1066093.0


50% (or 100%) premine coin:

Release and distribution

A): 50%: 500 million shares are held by the development and operation teams;
B): 30%: 300 million shares are reserved for the strategic investors in order to stay market-ready, and for an important strategic mergers and acquisitions;
C): 15%: 150 million shares are reserved for YBCoin exchange and integration of other Yuanbao virtual assets;
D): 5%: 50 million shares are reserved for distributing gifts, marketing and public relations activities.
____________________________________________________________________
100 %: 1.000.000.000 (one billion) shares

[nextgencoin]

$7,967,960 marketcap with $23 trade volume.

Shows nicely why marketcap is nothing but a useless number in crypto.

https://bitcointalk.org/index.php?topic=1066093.0

Yeah I saw that. Have a look at the website, I do like the idea of a Chinese based coin though. IF anyone can produce a coin to rival even Bitcoin and have the volume to push it is China...even if this one is a complete scam.

[spartak_t]

This one is funny indeed. Yesterday I tweeted about it.

http://twitter.com/FAILCommunity/status/607156739637702656

[nextgencoin]

This one is funny indeed. Yesterday I tweeted about it.

http://twitter.com/FAILCommunity/status/607156739637702656

hahha.

Before I dismiss it though and please don't think I'm trying to push it but it seems like its related to YBcoin which actually does have a high marketcap AND volume on coinmarketcap. I don't like the dismiss something till I know for sure its junk.

[spartak_t]

This one is funny indeed. Yesterday I tweeted about it.

http://twitter.com/FAILCommunity/status/607156739637702656

hahha.

Before I dismiss it though and please don't think I'm trying to push it but it seems like its related to YBcoin which actually does have a high marketcap AND volume on coinmarketcap. I don't like the dismiss something till I know for sure its junk.

They clearly state that @YBCoin is their official Twitter account. That is why it is included in the tweet.

[nextgencoin]

This one is funny indeed. Yesterday I tweeted about it.

http://twitter.com/FAILCommunity/status/607156739637702656

hahha.

Before I dismiss it though and please don't think I'm trying to push it but it seems like its related to YBcoin which actually does have a high marketcap AND volume on coinmarketcap. I don't like the dismiss something till I know for sure its junk.

They clearly state that @YBCoin is their official Twitter account. That is why it is included in the tweet.

Exactly so if they do actually have a successful coin then maybe this new 'asset' coin isn't a complete scam and maybe something is being lost in the translation.

[bathrobehero]

This one is funny indeed. Yesterday I tweeted about it.

http://twitter.com/FAILCommunity/status/607156739637702656

hahha.

Before I dismiss it though and please don't think I'm trying to push it but it seems like its related to YBcoin which actually does have a high marketcap AND volume on coinmarketcap. I don't like the dismiss something till I know for sure its junk.

They clearly state that @YBCoin is their official Twitter account. That is why it is included in the tweet.

Exactly so if they do actually have a successful coin then maybe this new 'asset' coin isn't a complete scam and maybe something is being lost in the translation.

How is that (lack of) distribution can possibly be considered anything but a scam? Having to trust the devs with that amount is pretty much a form of centralization.

[dadingsda]

The chart looks like stairway to heaven da moon... 

[Trouble821]

The chart looks like stairway to heaven da moon... 

I'm putting a screenshot of it here for posterity to show how easily a market cap can be manipulated by someone who holds a coin's entire distribution. Nobody can dump yet because the dev holds all the coins. He can buy a few dollars worth off himself at such high prices it pumps it to the top of coinmarketcap.

[NorrisK]

The chart looks like stairway to heaven da moon... 

I'm putting a screenshot of it here for posterity to show how easily a market cap can be manipulated by someone who holds a coin's entire distribution. Nobody can dump yet because the dev holds all the coins. He can buy a few dollars worth off himself at such high prices it pumps it to the top of coinmarketcap.

That also shows the importance of trading volume when evaluating the graphs and price movements of a coin. I wouldn't touch this piece of crap if I was any of you.

[montaga]

I looked at the website, any thread here to learn more. A scam?

http://coinmarketcap.com/

There are alternatives to coinmarketcap  https://bitcointalk.org/index.php?topic=1083240.0
coinmarketcap is a joke not worthy to check anymore. $ 20 trade volume a major global crypto lol

[bathrobehero]

I looked at the website, any thread here to learn more. A scam?

http://coinmarketcap.com/

There are alternatives to coinmarketcap  https://bitcointalk.org/index.php?topic=1083240.0
coinmarketcap is a joke not worthy to check anymore. $ 20 trade volume a major global crypto lol

Coinmarketcap is fine, you just have to click the Volume (24h) to sort coins in that order.

[hack_]

$7,967,960 marketcap with $23 trade volume.

Shows nicely why marketcap is nothing but a useless number in crypto.

Finally, someone who realizes that these figures are shit.

in crypto liquidity is whats important.

[maki]

Nice. $23 volume. LOL.

I can make a coin today, premine it, and set the price to whatever I want.  Need an exchange? Yobit will list any crap.
CoinMarketcap doesn't mean shit, unless you filter for premine and mineable.

Their main list should not include all of the pre-mine junk (including Ripple).

Non-mineable and premined filter is the only worthwhile CMC list.

http://coinmarketcap.com/currencies/views/filter-non-mineable-and-premined/

[spartak_t]

Nice. $23 volume. LOL.

I can make a coin today, premine it, and set the price to whatever I want.  Need an exchange? Yobit will list any crap.
CoinMarketcap doesn't mean shit, unless you filter for premine and mineable.

Their main list should not include all of the pre-mine junk (including Ripple).

Non-mineable and premined filter is the only worthwhile CMC list.

http://coinmarketcap.com/currencies/views/filter-non-mineable-and-premined/

Why not filter Bitcoin too? There is nothing wrong with mining, it's fun and it is securing the network of the given coin.

[Trouble821]

The chart looks like stairway to heaven da moon...  

I'm putting a screenshot of it here for posterity to show how easily a market cap can be manipulated by someone who holds a coin's entire distribution. Nobody can dump yet because the dev holds all the coins. He can buy a few dollars worth off himself at such high prices it pumps it to the top of coinmarketcap.

That also shows the importance of trading volume when evaluating the graphs and price movements of a coin. I wouldn't touch this piece of crap if I was any of you.

It's gone down from place 10 to place 578 on coinmarketcap in the space of one day.



They seem to have drastically changed the total number of coins available so the marketcap dropped right down.

[shanem]

This proves that any random shitcoin can go to the top ten of the market cap by increasing the number of coins to infinity.
I am waiting for an altcoin to have a supply of quadrillions.

[Trouble821]

This proves that any random shitcoin can go to the top ten of the market cap by increasing the number of coins to infinity.
I am waiting for an altcoin to have a supply of quadrillions.

Cryptotarget's already done that. It has a coin supply of 100 quadrillion coins (100,000,000,000,000,000 CRT).

The block reward is 4 Billion Coins (4,000,000,000 CRT) plus block height bonus.

https://bitcointalk.org/index.php?topic=1078787.0

A cap of one quadrillion would have been over the top, but 100 quadrillion is plain stupid.

If someone pays one sat for one cryptotarget coin it will have a marketcap bigger than bitcoin.

[FurianSun]

Market cap number is not really worth much of anything other than a nice reference number.