[ANN] CoinGecko.com - 360 Degree Cryptocurrency Valuation and Ranking

[EdwardWitten]

Liquidity != Volume.

A market can have high liquidity and low volume; liquidity refers to available funds.

[1714830005]

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[xtester]

@bobster, this is an interesting project.

However, if you want it to be taken seriously you should put a lot of value on judging the technical innovation of each coin as well as inflation/sustainability of each coin.

Without such important factors taken into consideration the results below the obvious ones like bitcoin, litecoin, etc, seem almost random.

hi xtester, technical innovation is indeed part of our plan. we initially wanted to roll it out in our beta but yanked it out for the time being because it is hard to evaluate technical innovation fairly for each coin because it is somewhat subjective. we are figuring out a way evaluate technical innovation fairly and once we have a method which we are happy we will incorporate it into our ranking.

We plan to add coin supply and inflation in our ranking soon. it's in our to-do so do watch out in the following weeks while we push more updates live.

Thanks for your feedback. Do continue giving us feedback here.

Hi bobster, you are right that technical innovation is really hard to evaluate objectively and fairly, but that is precisely one of, if not the most important factors which in combination with a strong community and a great dev team would predict or at least be strongly correlated with long term coin success.

For all practical purposes it is almost impossible to predict on a short term basis what a coin will do, but for a long term basis there are few really important things to judge and a lot of secondary ones. As you may know, there's always this power law distribution that seems to govern these kind of situations. So you should try to create create a ranking formula that should emulate reality as close as possible.(There are typically 2-3 factors that are responsible for 80%-90% of the long term outcome and lots of secondary, negligible factors responsible for 10%-20%) Since on the short term this is almost impossible because of the randomness and highly unpredictable events that occur you should focus on long term predictability. This is best done by trying to ignore the noise of the many secondary factors and make sure you don't miss any of the 2-3 very important ones. After you have the important ones and 80%-90% of the long term picture you can slowly add more secondary ones, but that should be the order.

hi xtester, yea i totally agree with you on how coins should be evaluated. the long-term factors play a much stronger role in determining price long-term. it is very hard to give any short-term price predictions coz there's a lot of noise. some of my closest friends use the same philosophy as yours in buying/selling altcoins and that's how we got the idea to build CoinGecko. we will be working hard to incorporate this soon

i guess the next most logical question for me to ask u is how would you best evaluate technical innovation? thanks

I have sent you a response on pm.

[bobster]

Liquidity != Volume.

A market can have high liquidity and low volume; liquidity refers to available funds.

Hi EdwardWitten, thank you for pointing this out. I overlooked this fact. I've read up further on liquidity risk and learned that trading volume is just one way of measuring liquidity for any assets. Will give this further thought and find a better way to measure liquidity on top of our trading volume.

[bobster]

Hi guys, here are some updates from CoinGecko:

1. We have added the following coins:
    Digitalcoin (April 13)
    Mintcoin (April 13)
    Unobtanium (April 20)
    Reddcoin (April 21)
    Einsteinium (April 25)
    Goldcoin (April 30)
    Blackcoin (April 30)
    Potcoin (April 30)
    Anoncoin (May 3)
    Fluttercoin (May 3)

2. We have been featured on the following blogs:
    http://coinjoint.info/coingecko/
    http://cryptomining-blog.com/2129-coingecko-a-new-crypto-coin-ranking-website/
    http://www.dailydoge.org/2014/05/01/coingecko/
    http://imaginarymarkets.com/coingecko-launches-worlds-first-non-market-cap-coin-ranking-system/
    http://coinspondent.de/2014/04/09/altcoin-gecko/ (German)

3. We have improved the individual coin page with more information such as hashing algorithm, total supply, introductory video and Twitter feed. Here’s a screenshot of the Litecoin info page:



4. We have also added a coin pricing page with historical 24 hours, 7 days, 14 days pricing data. We also added a currency exchange rate converter on that page so you can convert your coin price into BTC, USD, GBP, EUR etc. Here is a screenshot of the Reddcoin pricing page:



5. We have added a bunch of new metrics on our homepage such as market capitalisation and the constituent metrics of the sectional scores such as Reddit subscribers, Github stars etc. Notice the hashing algorithm under the coin name as well.



We are excited about CoinGecko and the data that we have collected. If you have any feedback, feel free to drop us an email at hello@coingecko.com. We are always excited to get an email from our users! Thanks and have a great day ahead!

[bobster]

Hi guys!

This week we pushed out three new updates to CoinGecko:

1. We added coin hashing algorithm, coin filter by hashing algorithm and network hash rate to CoinGecko.
   

2. We pushed out Reddit activity measure to count the average number of new post and comments per hour for each coin's subreddit:


3. We added 3 new coins to our list:
- Zetacoin (May 6)
- Communitycoin (May 8 )
- USDe (May 11)

Cheers,
Bobby

[Lauda]

This is an interesting site indeed. I don't like the developer score of Darkcoin though. It is the first fully anonymous coin, and it scored less than Dogecoin in that? 

[bobster]

We are just reading the statistics of Darkcoin available from their official Github open-source code repository here:
https://github.com/darkcoinproject/darkcoin
Not many other developers Watching or Starring this repo compared to Dogecoin.

We are aware that Darkcoin is the first fully anonymous coin. We are working on capturing data on these Technical Innovation on CoinGecko soon.
Thanks for the feedback

[ed89217]

Thanks, darkcoin is one of the most innovative coins around, and deserves recognition.

[defaced]

Would like to see Franko and Aiden added

[Lauda]

We are just reading the statistics of Darkcoin available from their official Github open-source code repository here:
https://github.com/darkcoinproject/darkcoin
Not many other developers Watching or Starring this repo compared to Dogecoin.

We are aware that Darkcoin is the first fully anonymous coin. We are working on capturing data on these Technical Innovation on CoinGecko soon.
Thanks for the feedback

You should prioritize Quality versus Quantity. Many developers are involved in Dogecoin repository because of their community, and that should increase their community score overall.
What Darkcoin offers is way better than 95-99% of the coins on the market in my opinion (mostly because we have over 300 copy/scam coins).

[bobster]

Would like to see Franko and Aiden added

Hi defaced, we have added Franko and Aiden to our coin to-add list. Stay tuned

[bobster]

We are just reading the statistics of Darkcoin available from their official Github open-source code repository here:
https://github.com/darkcoinproject/darkcoin
Not many other developers Watching or Starring this repo compared to Dogecoin.

We are aware that Darkcoin is the first fully anonymous coin. We are working on capturing data on these Technical Innovation on CoinGecko soon.
Thanks for the feedback

You should prioritize Quality versus Quantity. Many developers are involved in Dogecoin repository because of their community, and that should increase their community score overall.
What Darkcoin offers is way better than 95-99% of the coins on the market in my opinion (mostly because we have over 300 copy/scam coins).

We agree that we need to prioritize Quality over Quantity. We are still fairly new and actively pushing updates to improve our methodology.
Btw how do you find out there are over 300 Darkcoin copy/scam coins? Might be a good indicator for us to use.

[Lauda]

We agree that we need to prioritize Quality over Quantity. We are still fairly new and actively pushing updates to improve our methodology.
Btw how do you find out there are over 300 Darkcoin copy/scam coins? Might be a good indicator for us to use.

You kind of can't know how many copy/scam coins there are. All you can do is to look at the altcoin section here and watch for new releases.
Well I can give you some advice on improving some scores that need to be adjusted. 

[bobster]

We agree that we need to prioritize Quality over Quantity. We are still fairly new and actively pushing updates to improve our methodology.
Btw how do you find out there are over 300 Darkcoin copy/scam coins? Might be a good indicator for us to use.

You kind of can't know how many copy/scam coins there are. All you can do is to look at the altcoin section here and watch for new releases.
Well I can give you some advice on improving some scores that need to be adjusted. 

Ah 300's just a hypothetical value haha I thought you found a crystalball by knowing all the forked clones/scams of coins haha.
Yea do let us know how we can improve. We are always looking for suggestions on improving

[bobster]

Hi guys,

This week we added the average number of online Reddit subscribers for a coin's subreddit. We added this to prevent coins from manipulating our metrics by buying fake Reddit subscribers. If a coin has a large Reddit subscriber base but very low average number of new posts, comments and online users, there is a high likelihood that these subscribers are fake.

It is just a one-liner on our main page but a lot of thought and effort went into producing this one line with the man icon.


We also added 7 new coins to CoinGecko:
- Hobonickels (May 11)
- Whitecoin (May 14)
- Mazacoin (May 14)
- Gridcoin (May 16)
- Digibyte (May 16)
- Nautiluscoin (May 16)
- Ultracoin (May 17)

This week we also appeared on the front page of the Dogecoin subreddit. Go check out what the shibes have to say about us: http://www.reddit.com/r/dogecoin/comments/25gjat/good_news_shibes_we_just_passed_litecoin_on/

Cheers,
Bobby

[rnicoll]

Love the site (and only partly because the coin I work on is currently #2), but noticed something in the dev statistics. Commits for Dogecoin show at 0.0 as average over 4 weeks. We're committing work, so trying to work out if this is because commits via pull request are not counted, or perhaps are you only counting commits to the "master" (whereas we're working in branches)?

[bobster]

Hi guys, here are some updates on what we did:

1. We added 8 new coins to CoinGecko:
    Myriadcoin (May 18 )
    Franko (May 19)
    Libertycoin (May 20)
    Cinni (May 26)
    Monero (May 26)
    Asiacoin (June 1)
    Groestlcoin (June 1)
    Globalboost (June 1)

    With the addition of these new coins, we now track 50 coins!

2. We have calculated the estimated hardware cost required to launch a 51% attack on a coin. With this new measure we can see how strong the network protecting a particular coin is.



3. We have added the number of Closed Issues and average number of code commits under the Developer section.



4. The past 2 weeks have also seen CoinGecko featured on several publications such as DC Magnates, Bitcoin Weekly, Altcoins Trader and Altcoin Speculation.

Thank you for the support!

[bobster]

Love the site (and only partly because the coin I work on is currently #2), but noticed something in the dev statistics. Commits for Dogecoin show at 0.0 as average over 4 weeks. We're committing work, so trying to work out if this is because commits via pull request are not counted, or perhaps are you only counting commits to the "master" (whereas we're working in branches)?

Hi rnicoll, thank you for noticing these points. At the moment we are using the Github API that tracks the "master" branch. We may have stumbled onto a  bug here where the pull request commits are not counted. Thank you for pointing this out. We will be fixing this. Also, you brought up a good point for us to possibly start tracking development in other branches as most work goes on the branches. Thanks!

[bobster]

We are featured on Bitcoin Magazine! Go take a read: http://bitcoinmagazine.com/13652/coingecko-buy-sell-hold/

This screenshot is the most epic attention grabbing feature we ever see on Bitcoin Magazine!

[Daedelus]

Hi Bobster,

Nxt has 95% of its activity on nxtforum.org. If you go there, there will be 100-150 people online at any one time (scroll to the very bottom of the frontpage of nxtforum.org to see). It is currently at 134 and it is like this day after day. In the 108 days that the forum has been open, there has been an average of 550 posts per day. Can you reflect this in your stats? We don't really use Reddit so your website isn't capturing the big picture, Nxt has a HUGE community.


The bitcointalk page you have listed isn't our main one. It was the announcement page started by BCNext but we switched to a different one after he went offline as we obviously couldn't edit the OP any longer. This page can be found here: https://bitcointalk.org/index.php?topic=345619.0 It is 2672 pages long and is the biggest thread in the alternative crypto subforum. And this isn't reflected on your website either  It was closed when we switched to nxtforum and then we relaunched here: https://bitcointalk.org/index.php?topic=587007 and the page currently has 213 pages. This is just for promotion though, everything happens on nxtforum and the first thread is the true bitcointalk thread for when Nxt was on bitcointalk.

Can add these bits to give a fuller picture?

Keep up the good work.

Thanks