Why Coinmarketcap is wrong and why Getgems is half price.

[nextgencoin]

I'm open to correction but it seems to me that Coinmarketcap is making some errors in calculating marketcap. I think POS coins are being all treated the same ie they are calculating marketcap based on total supply BUT some POS don't have total supply available, I know Getgems is not a POW coin but in some ways it acts a bit like one in that it will be AT LEAST 3 years before all the coins are in circulation. The fact is Getgems only has like 40m available now and not 88m. Which means two things good and bad however you want to look at it. Firstly that Getgems actually only has a marketcap of around 1m half of what it seems to have and so should be around 40th place on coinmarketcap.

The good news is of course that its therefore half price and more undervalued than coinmarketcap makes it look.


Its also mixed up total supply, cause coins were burned 88m IS the total supply. And as I've said available is less than 40m.

http://coinmarketcap.com/assets/gems/


*I don't actually expect Coinmarketcap to chase up Getgems and constantly update based on changing available supply but this means we can't trust Coinmarketcap to tell us the full picture. Though its worth mentioning they managed to get Ripple right and base it on real available supply....

[reRaise]

88M is available which is correct to me, maybe half of it is circulating, but the entire supply is available. Although total supply should be 88,135,217 and not 100M http://blockscan.com/address/1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4. They will fix it if you send them a message.

[nextgencoin]

88M is available which is correct to me, maybe half of it is circulating, but the entire supply is available. Although total supply should be 88,135,217 and not 100M http://blockscan.com/address/1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4. They will fix it if you send them a message.

But surely it is held kind of like Ripple is held and so is not let out into the market and wont be for 3 years as the airdrop is released.


So Ripple is based on the 30billion! that has been released not the 100billion that is ultimately been made but is held by Ripple. 

[reRaise]

88M is available which is correct to me, maybe half of it is circulating, but the entire supply is available. Although total supply should be 88,135,217 and not 100M http://blockscan.com/address/1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4. They will fix it if you send them a message.

But surely it is held kind of like Ripple is held and so is not let out into the market and wont be for 3 years as the airdrop is released.


So Ripple is based on the 30billion! that has been released not the 100billion that is ultimately been made but is held by Ripple. 

Ok didn't know that, they need to adjust Ripple or GG then, but in GG case they will be released slowly based on reward models, how is coinmarketcap calculating that? Best would be to contact them.

[nextgencoin]

88M is available which is correct to me, maybe half of it is circulating, but the entire supply is available. Although total supply should be 88,135,217 and not 100M http://blockscan.com/address/1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4. They will fix it if you send them a message.

But surely it is held kind of like Ripple is held and so is not let out into the market and wont be for 3 years as the airdrop is released.


So Ripple is based on the 30billion! that has been released not the 100billion that is ultimately been made but is held by Ripple. 

Ok didn't know that, they need to adjust Ripple or GG then, but in GG case they will be released slowly based on reward models, how is coinmarketcap calculating that? Best would be to contact them.

Like I said I don't expect them to. But for us its important to know the way they are valuing Gems is 50% less than what is reality....at least at the moment. I guess in about 3 years it will be correct though...

[tyz]

Yes, your assumption is right. i would rather use worldcoinindex.com instead of coinmarketcap.com

[nextgencoin]

88M is available which is correct to me, maybe half of it is circulating, but the entire supply is available. Although total supply should be 88,135,217 and not 100M http://blockscan.com/address/1GEMZBURNXXXXXXXXXXXXXXXXXXXVUKFt4. They will fix it if you send them a message.

But surely it is held kind of like Ripple is held and so is not let out into the market and wont be for 3 years as the airdrop is released.


So Ripple is based on the 30billion! that has been released not the 100billion that is ultimately been made but is held by Ripple. 

Ok didn't know that, they need to adjust Ripple or GG then, but in GG case they will be released slowly based on reward models, how is coinmarketcap calculating that? Best would be to contact them.

I put a request in for the total supply to be 88m. Beyond that i dont expect them to update continuously the available supply.

[nextgencoin]

Yes, your assumption is right. i would rather use worldcoinindex.com instead of coinmarketcap.com

Why have i never heard of this site before its far better than coinmarketcap and shows some serious over valuations like vanilla coin which i was told is dirt cheap yesterday and how getgems for the potential it has is silly cheap. Thx for the find.

[jeannemadrigal2]

But, how long are they out of circulation guaranteed?   Can't they be put right back in to circulation if the holders find that the price is favorable?  And, then the full balance is available for market cap, and not half?  I am staking right now with a different coin, but i can move them pretty much whenever I want, so unless this coin is vastly different, it should be similar.