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Author Topic: Isnt it time to give up cryptocurrency ranking  (Read 332 times)
KingScorpio
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July 13, 2018, 01:58:00 AM
 #1

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards

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July 13, 2018, 05:23:22 AM
 #2

You are totally right that market cap is a horrible metric to "rank" cryptocurrencies, as it can be easily manipulated.

But the flawed rankings are caused partly because the ranking services (Coinmarketcap et al.) compare apples to bananas. Above all, because they compare complete blockchain projects with tokens which are created out of thin air, at almost no cost, on an existing blockchain.

For example, I would very much like a ranking service which compares only coins that have:
- an own blockchain (similar to the "Coin" table on CMC)
- no premine of any sort (this makes manipulation a lot more difficult, although it's still relatively easy to fake a market cap.)
This would make the ranking a whole lot more fairer. (If such a service exists, please post here Wink )

I for myself use even the flawed current ranking services somewhat, because they are basing their rankings, at least, on a kind of hard fact. The things you mention, like "management", can be faked even easier than market cap. The problem is: as everybody can create a cryptocurrency and there are thousands of them, how do you separate useful currencies from hobbyist, get-rich-quick and scam projects? (Well, something like BitConnect was ranked pretty high for some time, and I also don't understand the Tron hype, but I think the CMC top-100 contain most useful currencies).

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July 13, 2018, 07:28:47 PM
 #3

Ranking by the market cap is coming from traditional markets. I hope we will find another ranking methods to sort crypto currencies.
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July 13, 2018, 08:07:08 PM
 #4

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards

Rankings are always based on the price in the market but i think that the ranks should be based on its popularity because it is always depending on the investors on how the coin will grow in the market.
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July 13, 2018, 08:07:37 PM
 #5

Rank is not gonna give the profit it you. Just like that only we see the shit coin ripple in the top 5 rank mate.
I have noticed many potential altcoins in the market mate. I am not sure why those coins are not being top in the market.
Then price wise also we need to list the coins to find the potential in rate wise mate.

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July 13, 2018, 08:55:18 PM
 #6

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards
From time to time it is some issues with those sites, like payed rating and other. So I will not base my choice only on the rating site.

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July 14, 2018, 05:42:08 AM
 #7

The ranking system is misleading.It makes people think that higher ranked coins have more authority and more trust.An altcoin like ripple can have higher ranking,but it`s still a shitty altcoin,in my opinion.
But that`s the way all the people think.They love Top 10,Top20 or Top 100 lists.They love competition and ranking.
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July 14, 2018, 06:12:27 AM
 #8

The ranking system is misleading.It makes people think that higher ranked coins have more authority and more trust.An altcoin like ripple can have higher ranking,but it`s still a shitty altcoin,in my opinion.
But that`s the way all the people think.They love Top 10,Top20 or Top 100 lists.They love competition and ranking.
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July 14, 2018, 06:20:16 AM
 #9

Indeces with regards to ranking have different use. Price, Market Cap, Circullation etc all can give you different data about the crypto. However, they are all connected with an equation.

I think Market Cap is the best way to rank coins. I know this can be easily manipulated but which is not.

RIpple is indeed a shitcoin and still be in No.5. This shows that is supported even if it is crap, so for an investor it could be a good piee of information.

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July 29, 2018, 08:56:54 AM
 #10

The ranking system is misleading.It makes people think that higher ranked coins have more authority and more trust.An altcoin like ripple can have higher ranking,but it`s still a shitty altcoin,in my opinion.
But that`s the way all the people think.They love Top 10,Top20 or Top 100 lists.They love competition and ranking.
The e-currency rating I understand it is just stable supply and demand stability. Not all high rankings are good because most of what is well received is worth it. It may not be high rank but it is used by the community, it is worth more attention than the good stuff. It's just over at the high transaction level but the community needs the value of serving them to be the most stable.

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July 29, 2018, 11:07:04 AM
 #11

Ranking is based on how big is the market cap but it does not mean that a cryptocurrency that belongs to the top 20 really are good potential coins for investment in which case you need to study per currency based on the market price chart on how it performed well in the market. There are good altcoins even belong to the top 500 plus cryptocurrency ranking but it is doing good performance in the crypto market. Thus, ranking is not the basis on how good to invest on such cryptocurrency wherein it is just a guide based on marketcap value.
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July 29, 2018, 11:36:20 AM
 #12

Quantitative vs. qualitative, right? Market cap doesn't mean anything in terms of crypto, or even stocks for that matter. Certainly, it's good to have a high market cap. But just because one is higher than the other doesn't necessarily make it superior. It might even mean the trade is crowded!

There are more important things that investors should consider, like the security of the system. The transaction ability, the blockchain, the protection. They want to make sure that their money is safe, not that everyone else puts their money in the same place. This kind of ranking is hard to do, however.
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July 29, 2018, 02:07:06 PM
 #13

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards

I fully agree with you that the sites that show ratings are absolutely far from the real objective assessment of ICO companies. These counters are very often winded, bounty hunters or others. You cannot believe in such ratings. Here we need your experience, for such period and trust the old bounty to the responsible managers.

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July 29, 2018, 02:36:28 PM
 #14

Ranking by the market cap is coming from traditional markets. I hope we will find another ranking methods to sort crypto currencies.

It's a fairly old ranking method, but it's the most effective one I know of... It would be awesome to find a better method, but I doubt that's gonna happen anytime soon.

We'll have to cope with the current way of ranking. It's not always as handy as we may want it to be, but overall, it offers the highest reliability of all methods I've been presented.

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July 29, 2018, 02:48:19 PM
 #15

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards

Rankings are always based on the price in the market but i think that the ranks should be based on its popularity because it is always depending on the investors on how the coin will grow in the market.

I don't think that ranking is based on the price on the market. What I do know is they are basing the ranking of each coins on the volume of trades done within 24hours. Correct me if I'm wrong but that is what I have understood.

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July 29, 2018, 02:54:08 PM
 #16

Ranking by the market cap is coming from traditional markets.
I agree; it comes from the stock market.  In those cases it's relevant, since it gives someone an idea of how much money it would take to buy a company--if you're aware of all the LBOs back in the day, you realize how important that is.  For crypto I don't think it's anywhere near as important.  You might have a coin with an extremely large market cap, but who cares if no one is using it for anything besides speculation (which is the case with most coins).

Personally I don't pay attention to these sorts of rankings.  They're unimportant, not just to me but overall.  There isn't anyone who's going to buy up all the bitcoin in existence, and the same goes for most of the top-ranked coins.

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July 29, 2018, 03:46:34 PM
 #17

I agree with you that many people could be tricked by the coinmarketcap.com site.   I do like if for a general gauge of what's going on.  Not really sure on how else to rank the coins fairly though that enough people would get behind.  Like Bitcoin the ranking coins by market cap was a first mover and will be hard to dethrone. 

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July 29, 2018, 03:54:52 PM
 #18

I agree with you that many people could be tricked by the coinmarketcap.com site.   I do like if for a general gauge of what's going on.  Not really sure on how else to rank the coins fairly though that enough people would get behind.  Like Bitcoin the ranking coins by market cap was a first mover and will be hard to dethrone. 

 We have different opinion on the above topic as posted, Ranking make clear presentation on the status of the said coin as posted in the market, it simple putting up a system where it is clear to understand by who ever is willing to make or planning for investment for the said coin. it will be chaotic for the market without the system implemented.

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July 29, 2018, 04:59:45 PM
 #19

ranking of cryptocurrencies becomes outdated in my oppinion, its quite easy to create a currency which has a higher marketcap than bitcoin, but a corrupt sect arround the indexes prevents listening of those.

with the end of national banking cartels a time called "coins of style" will come, in this it will be more about a cryptocurrency and about its management and much less about a pretended selffullfilling ranking.

this could then also help prevent to get the market divided into new marketmovements. that want to free themselves from attention monopolies of established top 10 coins.
etc.

regards

I think your are totally spot on with this observation because it just continues to create some form of competition when there is really no need for any. However, I think the ranking is from the people who attach importance to it because there is no way there won't be some listing on coinmarket cap, blockchain.com market, exchange sites listings and the likes and one must surely come before the other and the generally accepted parameter to achieve that cannot be alphabetical order, neither can it be time of existence but rather the market capitalization. What we should promote is that decisions about which coin is better or not, should not be based on just listings.

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July 29, 2018, 05:09:06 PM
 #20

Ranking by the market cap is coming from traditional markets.
I agree; it comes from the stock market.  In those cases it's relevant, since it gives someone an idea of how much money it would take to buy a company--if you're aware of all the LBOs back in the day, you realize how important that is.  For crypto I don't think it's anywhere near as important.  You might have a coin with an extremely large market cap, but who cares if no one is using it for anything besides speculation (which is the case with most coins).

Personally I don't pay attention to these sorts of rankings.  They're unimportant, not just to me but overall.  There isn't anyone who's going to buy up all the bitcoin in existence, and the same goes for most of the top-ranked coins.

You are not going to change traditional investors opinion on things like this and you can see this when they talk about Bitcoin

on public forums. They are so brainwashed by the fiat system and the way those markets work, that they cannot understand

that Bitcoin can be different. Until Crypto currency educational material are included in the schools and universities and these

people are educated, then we will never change their views and opinions.  Angry

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