Regarding removing Nxt, MasterCoin, and Ripple (which is now being voted on at https://bitcointalk.org/index.php?topic=381016.0
), there seems to be 3 main arguments against it. I'll let you know what I think about each:1) It's a scam
Prove it? Every single currency on the site has been called a scam at one point. Unless the software is distributing viruses, this is not enough to de-list.
Rather funny when someone demands absolute proof.
If for example 90% of all NXT is owned by one person we would never know.
The coins were created all at once and distributed to "stake holders." The max buy in was 1BTC per BTC address but there is nothing stopping someone from sending BTC from multiple addresses. In fact the creator of the coin could just send himself BTC from multiple accounts at zero cost but it looks good on paper.
There is no way to prove this but it is possible because of the inherent design of the coin.
That is my beef with these coins, the overall design including the proprietary exchange is perfect for running a scam.
I outlined the similarities between NXT and Realsolid/Coinhunters endevors. Here: https://bitcointalk.org/index.php?topic=381489.0
2) Only traded on special exchanges that trade one coin
As long as the exchange is open and anyone can buy and sell freely, not sure why this is relevant. If anything, there should be a volume requirement, but the three in question already have way more volume
than most of the other currencies. If you have evidence that exchange is falsifying data, then please let us know. I've already tweaked the calculation to avoid price manipulation spikes on tiny volume.
It does not matter if the exchange is open to the public. It is a moot point.
There is nothing stopping the owners of these proprietary exchanges from starting 20 puppet accounts and trading a huge volume of NXT or Mastercoin back and fourth to themselves with only a few BTC actually going back and fourth. All the fees even go back to the exchange owner so it costs nothing to rig the price or the volume.
That is exactly what Realsolid did at MCXnow, manipulated prices and faked the volume. Realsolid was actually more legit in some ways because he allowed several coins that weren't his on the exchange to give it the appearance of legitimacy.
3) The marketcap is misleading for 100% pre-mined coins vs non pre-mined coins
This is really the only argument I have sympathy for. But that's what marketcap is: Price x Total Supply. We can solve this problem by providing filter for 100% mined coins. What do you think of that solution?
A filter alone is not enough. A grading system as outlined by cycloid would be better or just leave them off the list entirely. There is nothing wrong with taking a moral stand against scam coins.
Crypto's were ment to be the solution to centrally controlled fiat money not as some get rich quick scheme. Coins that are of the 100% created, premine/instamine variety that have their own exchange and can't or won't list at the more popular exchanges are just schemes to make a few people rich quick.
Allowing these types of coins to be successful and get undeserved attention only de-legitimizes all cryptos in the eyes of the general public.
Personally I have stwitched to: http://www.cryptmarketcap.com/
until this is properly taken care of.