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Author Topic: Isnt it time to give up cryptocurrency ranking  (Read 330 times)
ss890
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August 02, 2018, 12:14:27 PM
 #41

I think this procedure is automated and depends on various factors like daily trading volume for particular coin and its market cap. You saying that the market cap can be created with high volume but I say no, nothing like that can be done. It is not that easy to make market move in such way otherwise every coin would have done the same to have visibly and go to the Top 10 list. Everything happen naturally and you can observe that the rankings keeps changing all the time for many coins depending upon how the market cap is driving for them.  Smiley

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August 02, 2018, 12:18:11 PM
 #42

I have long been convinced that all these ratings do not show the real reality. All reviews comments are ordered from freelancers and there is no objective truth about the ICO. Therefore, we have to study all the coins and all the companies ourselves. Their products, websites, white paper, etc. are Time consuming, but it is more productive.
I also do not appreciate ICO analysis websites because I think the information about the ICO projects on those webmasters might be a PR rush for ICO projects. Take the research and analysis methodology of ICO projects you want to invest to take responsibility for your decision, mistakes will be the lessons learned in this market.
True, because not all of them can predict it very right. We don’t what will be the next move of market or the next move of bitcoin. Well, replacing bitcoin by other crypto currency is not that easy.

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August 02, 2018, 10:33:33 PM
 #43

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)

Coin market cap has this option. You just have to select from the dropdown menu whether you want only coins or all crypto according to their market capitalization. I agree with you though since the first ranking to appear on the site is list of top cryptos and not coins with their own blockchain.

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August 02, 2018, 11:55:38 PM
 #44

Well, the rankings do help some investors make decision as to what and what to go for in deciding the right investments to make for the year; long or short term. I do also like this to some extents as it creates order.

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August 03, 2018, 12:31:49 AM
 #45

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)

Coin market cap has this option. You just have to select from the dropdown menu whether you want only coins or all crypto according to their market capitalization. I agree with you though since the first ranking to appear on the site is list of top cryptos and not coins with their own blockchain.
Yep, but the second condition I would like (to list only coins without a pre-mine) isn't available at Coinmarketcap.

Coinmarketcap has at least a "Filter non-mineable" toggle option. This filter takes out currencies where the supply is fixed (most of them based on a pure ICO distribution, like NXT or NEM) and so it filters "the worst offenders" in terms of premine. However, coins like Ethereum, where a big part of the supply has been premined, are still available in this list. In theory, even a coin which has a 99% premine could made "mineable". Another point I don't like is that this list is pretty much hidden.

What I would like is a "Filter premined" option, and the resulting list presented prominently as something like "Decentralized cryptocurrencies." or "cryptocurrencies without premine".

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August 03, 2018, 12:35:25 AM
 #46

I am also losing my trust in coinmarketcap. I do not know if they are still reliable for the current coin rankings. But one thing for sure if blockchain technology would last in the next 8yrs. We can see all crypto market rise up.


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.

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August 04, 2018, 04:49:46 AM
 #47

One thing I know. Stop looking at coinmarketcap. That is a hell of fake news for me.
There is not much of a legitimate market of one crypto currency.

I saw a lot of projects which are really good and yet they are ranked at the thousands number. It is disappointing to see more people are relying on that and they are doing some math with the market cap and whatever it is.
Even with the good exchanges listed by them they are still somewhere at the bottom.
The market price notice is just the algorithm of the website being programmed. The price of each cash flow is due to the market or the owner of the project that updates the situation. All information is just behind them, the reality is very different. Do not spend too much time listening to the market. Be prepared for your plans to achieve certain goals do not be too greedy...
But I think all such information provided on websites isn’t hand made. No one can just assume some price in mind and then put on the board just to show the audience that okay we have this assumption. You need to know that prices are official, and they can’t just be manipulated according to personal benefits. What comes official is official and you can’t just deny it.

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August 04, 2018, 09:59:16 AM
 #48

Rankings should count on community use because a successful coin must have a large user community. Next came new products, and applied to life. Don't trust the evaluation sites, they give the data themselves, no one checked the data. There should be a VoteUp system for everyone
Yes that is right I think that we should leave it on community, peoples, like and dislike, which they are already doing. In fact people have already selected bitcoin as number one crypto currency and I think that Etherium is on number two. Though there are so many other crypto currencies which have good potential and their ranks are also expected to increase because of the increasing interest of the people.
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August 04, 2018, 10:50:27 AM
 #49

Bitcoin may be wiped out for a different currency, but there is no such thing. Bitcoin is still the market leader
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August 04, 2018, 10:14:12 PM
 #50

One thing I know. Stop looking at coinmarketcap. That is a hell of fake news for me.
There is not much of a legitimate market of one crypto currency.

I saw a lot of projects which are really good and yet they are ranked at the thousands number. It is disappointing to see more people are relying on that and they are doing some math with the market cap and whatever it is.
Even with the good exchanges listed by them they are still somewhere at the bottom.
The market price notice is just the algorithm of the website being programmed. The price of each cash flow is due to the market or the owner of the project that updates the situation. All information is just behind them, the reality is very different. Do not spend too much time listening to the market. Be prepared for your plans to achieve certain goals do not be too greedy...

Do you think there's a bit of favoritism going on with some of these sites? Some false promotion in exchange for some coins under the table? It's insider trading like on wall street, except no one will ever know it happened. That's what you've really got to be careful about with crypto.

It's not worth spending much energy crawling through these sites anyway. Learn your own criteria for judging the value of a coin and then invest little by little until you have enough conviction that it is worth that money. And certainly, don't get too greedy or it might all disappear.
It is very likely that something like that is happening behind the scenes, no one likes to think about it because the consequences of such a thing for the market will be terrible but that is why it is not always the best idea to trade your coins, because if you find yourself in the wrong side of a manipulation of the market you could easily lose a substantial amount of your capital and it will not be your fault.
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August 04, 2018, 10:19:39 PM
 #51

i think its too early to decide to give up on crypto because of the ranking. we have almost 4
4months to the end of the year.
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August 04, 2018, 10:57:10 PM
 #52

It's really easy for new coins to do wash trading and price manipulation to get a higher ranking on coinmarketcap.  I've seen some really useless coins make their way to the top 50 of CMC overnight.  It's very concerning that a ponzi scam (bitconnect) was once a top 10 coin. Coinmarketcap has started to crack down on fraudulent coins but the problem still persists. 
A lot of shitcoins on the top, and i know they are just being manipulated. I’m not trusting much the coinmarketcap, I still depend on the project itself and I believe investors should also focus on the technology of a real project and not just by its marketcap, a lot of good coins out of the top.

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August 07, 2018, 04:44:53 PM
 #53

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

Ranking isn't important for making money. If you look the rank chart you'll see Eth is second coins where bitcoin is first but people are still making more money with ETH.
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August 08, 2018, 10:37:22 AM
 #54

Well, the rankings do help some investors make decision as to what and what to go for in deciding the right investments to make for the year; long or short term. I do also like this to some extents as it creates order.
Its depending on its value not ranking. If everyone start thinking like this they'll never able to make money. Doesn't matter which crypto currencies you chose you'll make money until they're volatile. 
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August 08, 2018, 10:46:58 AM
 #55

Ranking by marketcap at least is very outdated and prone to manipulation
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August 16, 2018, 03:43:54 PM
 #56

For me, Crypto technologies are just technologies and everybody can use them by its own intention that is why there are so much various coins on the market. I do not consider that it is wrong because every coin is a particular technology, a project or a company and this situation is similar to the real life where thare are a lot of various business and companies. My advice use it wisely, and you'll get many benefits.
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August 18, 2018, 01:17:34 PM
 #57

For me, Crypto technologies are just technologies and everybody can use them by its own intention that is why there are so much various coins on the market. I do not consider that it is wrong because every coin is a particular technology, a project or a company and this situation is similar to the real life where thare are a lot of various business and companies. My advice use it wisely, and you'll get many benefits.
Yeah there are many but we are sensible and we know it well that what we should use it and how it use, for me best coin among all is bitcoin and it will never stop growing in market, it has direct effect with our life and it can make our condition good, I am sure not too far but only bitcoin will be here in market and everyone will accept the value and the worth of bitcoin very soon.

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August 18, 2018, 01:50:57 PM
 #58

We cannot give up cryptocurrency ranking. It is necessary so as to create competition among the cryptos and give everyone a fair idea of the coins performance.

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August 18, 2018, 01:51:27 PM
 #59

Ranking helps a lot for newbies to start with. Even though they provide misleading information, it is what it is. I think it's a just a baseline that should not be followed to the letter. Maybe they can just put a disclaimer somewhere that this information is just current fact and can be manipulated.

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August 18, 2018, 02:23:23 PM
 #60

I agree with most posters in this thread saying that cryptocurrency ranking can be manipulated, and that it is indeed manipulated in many cases. But, on the other hand, look at the top 20, or even at the top 40 coins, ranked as such by CoinMarketCap. Aren't most of them really deserve to be called one of the best? Not all of them, but I think 80% of the top ranked coins are really good ones? I mean, although it has its flaws, the ranking system can serve as a guide for those looking for altcoins to invest in (with some exceptions of course).

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