Incorrect Bitcore(BTX) Circulating Supply on CMC

[QB Horse]

Not sure if this thread is still active/relevant, but in any case, I thought I would throw this here instead of the regular ANN.

Someone in a trader chatroom made me realize CMC might not show the accurate circulation for many coins because of they use the public float accounting method to calculate the market cap.

Indeed, on their site, they have the below explanation:

"Why is the Circulating Supply used in determining the market capitalization instead of Total Supply?

We've found that Circulating Supply is a much better metric for determining the market capitalization. Coins that are locked, reserved, or not able to be sold on the public market are coins that can't affect the price and thus should not be allowed to affect the market capitalization as well. The method of using the Circulating Supply is analogous to the method of using public float for determining the market capitalization of companies in traditional investing."

My guess is that they see the virtual fork free coins that were not redeemed as locked, and therefore can't affect the market price. I think it's a battle of interpretation between the dev team and CMC. Dev team probably just need to clarify this with CMC.

[1713468105]

1713468105

[1713468105]

1713468105

[Sylar2016]

Any news about this problem? Why CMC doesn't answer at our request? I am sue that if and when Circulating supply will be correct, BTX will increase its value.

[metallicelmo]

Maybe they are too busy, or maybe it's just one guys running it you don't really know

[Hadrop.Boyle]

I think they have no idea about UTXO (unsent transaction outputs) imports. How they work and why to add them to circulating supply. The only compareable coin who did the same distibution is CLAMS (as far as i know) and if you look, the same issue with the circ. supply there.

I found something written by Jimmy Song the Editor of Bitcoin Tech Talk: https://medium.com/@jimmysong/bitcoin-diamond-super-bitcoin-bitcore-what-you-need-to-know-f49c35688a39

Bitcore is something that’s between a hard fork and an airdrop. BitCore (BTX) basically took the UTXO set from Bitcoin, compressed the outputs for each address and distributed on their chain. In layman’s terms, they cleaned up the ledger (blockchain) so that it’s a lot smaller.

This is the most clever of the hard forks in that it doesn’t require the Bitcoin blockchain like other hard forks do (120GB+!) and at least innovates by cleaning things up a little. Unfortunately, distribution on this coin is a bit stingier as you only get 0.5 BTX per 1 Bitcoin you had as of block 492820. They have a continuing airdrop going on, so there’s also that aspect which helps the coin.

The compare of hardfork and airdrop towards UTXO import shows me that this amount really should be added to circulating supply.

https://en.wikipedia.org/wiki/List_of_Bitcoin_forks

[julian.c]

They corrected the Supply this Night!

https://twitter.com/bitcore_btx/status/952687927007510528?ref_src=twcamp%5Eshare%7Ctwsrc%5Eios%7Ctwgr%5Eph.telegra.Telegraph.Share

[Hadrop.Boyle]

Thank you @ CMC that this finally is corrected.  :thumbsup