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Author Topic: Isnt it time to give up cryptocurrency ranking  (Read 330 times)
Elwin_Dog
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August 20, 2018, 05:28:24 AM
 #61

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.

It's too bad because this is what gives crypto a bad name. The supporters of fiat are quick to mention that there is no regulator to protect against price manipulations and that the wild swings are just used to serve interests of major powers behind the scenes (which could even be them for all we know).

I don't really think altcoins are a good idea for the most part because of how easily they can be manipulated or taken over. They're actually great potential for short term gains, but you've really got to keep an eye on them if you don't want your capital going down the toilet. They need close supervision and firm rules for entry and exit.
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August 20, 2018, 05:55:43 AM
 #62

I guess we dont have to rank them, they earn their rank automatically over the period of time. Since they depend on the volume that is being generated due to the trading of those coins. This also depends on the project development so that it attracts more and more user base and thus it can grow the volume accordingly as there will be more investment made by these new comers.
Those will receive greater ranks who stays ahead in all of these.  Wink



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August 20, 2018, 07:03:21 AM
 #63

Cryptocurrency ranking just for helping investor to choose their investment. If ranked, investor more easily to choose coin with big liquidity or big market cap value. Beside that many analysis we can use start from lowest price. I think rangking on coinmarketcap help us to find right investment

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August 20, 2018, 07:17:10 AM
 #64

The market ranking has made some of us to miss some good coins. By not buying some goo undervalued coins until they moon past our budget. I currently look at some low value coins with future potentials. forget market rankings.
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August 20, 2018, 07:24:37 AM
 #65

it's true that ranking on crypto is very useful for all with new methods and similar groupings or the like. at the moment I see there is still a special tendency of the rankings on the website today

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August 20, 2018, 07:26:45 AM
 #66

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).
I see this is the best answer. That's the answer I need.
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August 20, 2018, 12:15:17 PM
 #67

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.
I don't know it still shows me as a total how one coin reacts to bad/good markets compared to others. I do not like the "ranking" part neither but coinmarketcap has a lot more stuff than just ranking those coins. Even in some sense the rank or order of coins being listed with coinmarketcap has no meaning as they do follow the amount of network by multiplying number of coin circulation with price of one coin whereas many corporate coins like ripple are highly manipulating with number of circulating coins, it makes it not the exact thing we need to consider for ranking or for sorting out.

For example I can open one up right now, see all red and than see just one green and check what coin that is, check why it is green on a blood red market and see something I may like. Or I can do the opposite, check a whole green market and see one red, check why its red and maybe sell if I have any.

Coinmarketcap offers so many stuff than just ranking coins, its wrong to assume ranking is a pissing contest, it is not, it is a way of showing which coins are actually working and which are not.

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August 20, 2018, 12:49:59 PM
 #68

I think the ranking of the crypto currency will leads to more manipulation in the prices,so it is better to completely take away any ranking system for the cryptos on any sites.Just like the existing fiat money we don't have any ranks to them right so we need to consider cryptos as same like that.

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August 26, 2018, 09:33:06 AM
 #69

agree with you as the ranking is based on the market cap and that can be easily manipulated and we have seen such instances before like Tron(trx) was in top 10 in no time and many noobs bought it at that price considering its tanking and hype at that moment and it went down from there very quickly too and now holding its position at 12.

In my idea, there has to be some other way of ranking or there should be no ranking at all.

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September 08, 2018, 09:19:28 PM
 #70

Ranking will be available in the traditional market. I think we will find another ranking of methods of cryptocurrency.

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September 09, 2018, 01:23:24 AM
 #71

I think the ranking of the crypto currency will leads to more manipulation in the prices,so it is better to completely take away any ranking system for the cryptos on any sites.Just like the existing fiat money we don't have any ranks to them right so we need to consider cryptos as same like that.

I dont think rangking will leads on more manipulation. Ranking on crypto is just a guide for new investor when the choosing their coin. Its just raw data and i am believe it will not leads to manipulation

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