Sukrim
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December 30, 2013, 01:35:10 PM |
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If I destroy 1 XRP for fun as transaction cost, this would have been enough to pay for 100k transactions while costing me about 3 US cents and it would leave quite a spike on that chart. You can only do that for so long before you run out. For about 2 decades, yes - and I could do it completely for free, as I got my XRP in giveaways. Edit: The main point is that users paying high fees is a poor measure of performance - cash transactions have 0 explicit fees but amount to huge sums compared to BTC or Ripple. I am for example quite sure that VirWoX with their large markups makes more money in fees than some far larger/higher volume BTC exchanges. Would you consider them "larger" because of that? Ideally there are 0 fees and the closer you get to this ideal, the harder it gets to be considered "large" by you.
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kcirazy
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December 30, 2013, 01:46:09 PM |
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For about 2 decades, yes - and I could do it completely for free, as I got my XRP in giveaways.
If this is how you want to spend your money, I am not going to judge you. You make up part of the crowd that is willing to pay for using the transaction network. If people are willing to spend their XRP on that, they will be willing to spend their BTC on that. This ends up being a part of the whole in the total daily transaction fees.
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Sukrim
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December 30, 2013, 01:51:28 PM |
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Well the thing is that it would be easy that way to manipulate transaction fee charts in Ripple (since fees there are several orders of magnitude smaller than in PoW coins) and other similar coins and fees there do not necessarily represent the amount of "investedness" into the system. Transaction volume might be another indicator that looks nice at first, still it again can be easily gamed (I can afford to replicate every single transaction ever in all of Bitcoin into Ripple for XRP worth less than 20 USD in fees) in coins that have smaller fees.
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kcirazy
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December 30, 2013, 02:01:34 PM |
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Well the thing is that it would be easy that way to manipulate transaction fee charts in Ripple (since fees there are several orders of magnitude smaller than in PoW coins) and other similar coins and fees there do not necessarily represent the amount of "investedness" into the system. Transaction volume might be another indicator that looks nice at first, still it again can be easily gamed (I can afford to replicate every single transaction ever in all of Bitcoin into Ripple for XRP worth less than 20 USD in fees) in coins that have smaller fees.
That is why I'm saying: I'm not interested in doing something with the transaction volume, but would like to see the amount of money that people spend on transaction fees in total on using each system. You are talking about trying to manipulate daily growth of a single system, but that won't work if Bitcoin already collects $11.000 in fees daily, and you spend an extra 1 XRP ($0.028)
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Sukrim
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December 30, 2013, 02:08:43 PM |
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This is like claiming that the more cars of a certain brand crash and kill their passengers the more successful this manufacturer likely is, since you need to sell more cars to kill more people. I do not like this metric at all, so I guess we have to disagree on that one.
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stav
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December 30, 2013, 05:25:41 PM |
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Could you add Colossuscoin ? trade : crypsy block explorer : https://coinplorer.com/COL
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Reece523
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December 30, 2013, 06:45:00 PM |
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Would it be possible to report the value of individual coins in BTC or USD? The reason I ask is because some coins like Lotto Coin and Earth Coin have recently surged in value and as a result have seen a large increase in miners. This makes it look like the coin is increasing in value faster than it actually is because new coins are being minted much faster than they should and will continue to be until the difficulty retargets. For example, Lotto Coin has only increased by about 60% in value per coin since being listed on Cryptsy however CoinMarketCap.com reports a market cap increase of 150%.
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niothor
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December 30, 2013, 07:16:09 PM |
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Would it be possible to report the value of individual coins in BTC or USD? The reason I ask is because some coins like Lotto Coin and Earth Coin have recently surged in value and as a result have seen a large increase in miners. This makes it look like the coin is increasing in value faster than it actually is because new coins are being minted much faster than they should and will continue to be until the difficulty retargets. For example, Lotto Coin has only increased by about 60% in value per coin since being listed on Cryptsy however CoinMarketCap.com reports a market cap increase of 150%.
31 LottoCoin $ 1,193,798 $ 0.00049 2,442,880,245 LOT $ 308,695 +158.19 % 20 EarthCoin $ 3,147,865 $ 0.0062 510,515,161 EAC $ 155,972 +151.02 you're thinking of something and writing something else , but i can't read minds
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Reece523
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December 30, 2013, 07:22:36 PM |
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Thank you for catching that ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I meant to say that the market cap information does not sometimes accurately represent what is going on in the market for its investors. The value of the coin increases sometimes much slower than the market cap because the market cap becomes very quickly inflated when a new coin begins seeing hashing power. For this reason, I am wondering if it would be possible to see the percentage by which the value of each coin has changed over the course of 24 hours in addition to the market cap information. I believe this would give investors a more complete picture of what is occurring in the market. This isn't a problem whatsoever for coins like Bitcoin where coin inflation is minimal and therefore the market cap information yields a very accurate picture of how the market is performing, however with new coins the market cap data can be tens of percent off the appreciation of individual coins. Would it be possible to report the value of individual coins in BTC or USD? The reason I ask is because some coins like Lotto Coin and Earth Coin have recently surged in value and as a result have seen a large increase in miners. This makes it look like the coin is increasing in value faster than it actually is because new coins are being minted much faster than they should and will continue to be until the difficulty retargets. For example, Lotto Coin has only increased by about 60% in value per coin since being listed on Cryptsy however CoinMarketCap.com reports a market cap increase of 150%.
31 LottoCoin $ 1,193,798 $ 0.00049 2,442,880,245 LOT $ 308,695 +158.19 % 20 EarthCoin $ 3,147,865 $ 0.0062 510,515,161 EAC $ 155,972 +151.02 you're thinking of something and writing something else , but i can't read minds
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FTWbitcoinFTW
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December 30, 2013, 07:39:23 PM |
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Thanks for the amazing job but please, can you remove Ripple ? It's a joke right ?
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Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone. it has lots of buttery taste..
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StarenseN
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December 30, 2013, 07:43:26 PM |
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Thanks for the amazing job but please, can you remove Ripple ? It's a joke right ?
+1 Ripple 30% of BTC Marketcap. Total Vol(24H) : 86,000$ (0,3% BTC volume). Big lol
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Sukrim
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December 30, 2013, 09:45:38 PM |
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Thanks for the amazing job but please, can you remove Ripple ? It's a joke right ?
Read the link in the OP. Also volume on Ripple (for XRP as well as other currencies) is much higher than that, it seems coinmarketcap only looks at the single XRP/BitstampBTC market (which is large, but not even the largest, see https://ripplecharts.com/markets which also gives an incomplete but better overview).
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StarenseN
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December 30, 2013, 10:04:21 PM |
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Thanks for the amazing job but please, can you remove Ripple ? It's a joke right ?
Read the link in the OP. Also volume on Ripple (for XRP as well as other currencies) is much higher than that, it seems coinmarketcap only looks at the single XRP/BitstampBTC market (which is large, but not even the largest, see https://ripplecharts.com/markets which also gives an incomplete but better overview). Ok right, same for BTC, total Vol(24h) is 57M$ (figures from bitcoinaverage.com) when total XRP exchange is 0.1M$ (from your website) This is worst: we have 0,17% of total BTC Exchange in XRP, for a coin that has 30% of the Bitcoin marketcap. A 1:176 difference between the respective Marketcap/vol(24h) ratios. Draw your conclusions. Is XRP scheme close to a scam or (the potential) not understood ?
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DieJohnny
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December 30, 2013, 10:56:06 PM |
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Thanks for the amazing job but please, can you remove Ripple ? It's a joke right ?
Read the link in the OP. Also volume on Ripple (for XRP as well as other currencies) is much higher than that, it seems coinmarketcap only looks at the single XRP/BitstampBTC market (which is large, but not even the largest, see https://ripplecharts.com/markets which also gives an incomplete but better overview). Ok right, same for BTC, total Vol(24h) is 57M$ (figures from bitcoinaverage.com) when total XRP exchange is 0.1M$ (from your website) This is worst: we have 0,17% of total BTC Exchange in XRP, for a coin that has 30% of the Bitcoin marketcap. A 1:176 difference between the respective Marketcap/vol(24h) ratios. Draw your conclusions. Is XRP scheme close to a scam or (the potential) not understood ? XRP volume is my biggest red flag issue. It doesn't matter what companies are behind it or what amazing features it represents down the road, if it claims to be worth 2+ billion dollars then you would have more volume that what you see. It simply isn't owned by anyone or traded by anyone. It is owned by a select few people and even a select fewer companies. With all the capital behind them you would think their services and value-add would be both more readily consumable and understandable. I will wait.
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Those who hold and those who are without property have ever formed distinct interests in society
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Sukrim
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December 31, 2013, 12:20:40 AM |
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The only issue is that you are looking at freaking market caps, not issued float or trade volume charts!
If you have issues with trading volume, go sort by trading volume if you so desire - but please stop complaining that a page that is dedicated to displaying market caps actually displays market caps of currencies you might not like. If you have issues with that indicator, please register "coinexchangevolume.com" and do your volume comparisons there. I tried to offer solutions on how to divide inflating and deflating coins with 0 feedback and I am also not too happy that people get worked up about stuff that just looks really bad because it is a bad indicator to use for 2 quite different issuing concepts.
I have explained Ripple and how it works now multiple times here in the past few days, this is not the right thread for it though, just check my post history and open a thread for your actual questions in the altcoin (if it is about XRP) or some other appropriate (if it is about exchange functionality or economics for example) forum.
Also: Please (as noted multiple times in the thread with the poll): RIPPLE != XRP! XRP are called "ripples" (which is a damn unfortunate name imho., even "ripplecoins" would have been better to distinguish the asset from the payment system!) and they are far less important as an investment (since they suck as store of value in my opinion) than any other coin listed. They are not designed and not intended to be hoarded, unfortunately the relatively high market cap has attracted self-proclaimed "investors" that got a bit of the typical "to the moon!" fever.
At least please change the name listed from "Ripple" to "Ripples (XRP)", "ripples" or something like that - currently it seems like comparing gaming consoles companies and listing Nintendo as "Wii Points Issuer". This stuff is what they make money with, not their main product.
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dadon
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Pecvniate obedivnt omnia.
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December 31, 2013, 12:41:17 AM |
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can we add asiccoin please
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techstorm2
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December 31, 2013, 11:06:54 AM |
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Can you add dimecoin and mooncoin. Thx ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Dime 7Q3cZtyJemmE8pJsrYgX24mHnkqZX6M6hP BTC 18vbvovBeM5ZTZqR5ZWAy75EXE7qTNipuo Mooncoin 2QgyivUMa7Zun6oPdxeE1yry1aNp5hqrDb LTC Lg3UYGCAe3Tb146PiMqeGNLR7bnjdM447d Doge DPd1XejW8TabJu5gfjyKnuQYQ9Vzw1anXN
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KingGoon
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December 31, 2013, 11:09:05 AM |
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So Icy E-Money - Frozentalk.org FD1GwdBjTeMPFdZD5v3cVRG7ZoPJBAuLrf All these girls excited ,Oooo ya know they like it ,Frozen so icy, so icy ,Haters don't try to fight it ,All yo friends invited ,Frozen so icy, so icy!!
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illdeletethis
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December 31, 2013, 11:53:14 AM |
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Ok right, same for BTC, total Vol(24h) is 57M$ (figures from bitcoinaverage.com) when total XRP exchange is 0.1M$ (from your website)
This is worst: we have 0,17% of total BTC Exchange in XRP, for a coin that has 30% of the Bitcoin marketcap. A 1:176 difference between the respective Marketcap/vol(24h) ratios.
Draw your conclusions. Is XRP scheme close to a scam or (the potential) not understood ?
XRP volume is my biggest red flag issue. It doesn't matter what companies are behind it or what amazing features it represents down the road, if it claims to be worth 2+ billion dollars then you would have more volume that what you see. It simply isn't owned by anyone or traded by anyone. It is owned by a select few people and even a select fewer companies. With all the capital behind them you would think their services and value-add would be both more readily consumable and understandable. I will wait. this is the same for the other non mineables as well, the market cap figure is inflated due to not distributed coins getting counted as well but if we judged purely by volume litecoin should already have half the cap of bitcoin, that would get it the quarter coin value some enthusiasts propose, which it obviously doesn"t
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