USDbitfnx (OP)
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November 16, 2014, 11:47:23 PM |
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Hello!I am proud to announce Crypto25, the first professional altcoin Index! Preview: http://jnxt.org/crypto25/(Kudos to jones for creating this awesome site!) FAQ:What is Crypto25?Crypto25 is an index, that tracks performance of the 25 altcoins with the highest market cap compared to bitcoin. So the index will go up, if the 25 altcoins will perform better than Bitcoins and will go down, if they perform worse. Why do we need such an index?Indices are very popular in the world of finance and it is sad to see, that there is no such project in the altcoin world. There are several advantages that come with indices: You can check one chart to see how most of the altcoin market is doing. Also having an index makes it very easy to create products that track the performance, for example an ETF, Futures or options. Another cool thing is, that you can check of your portfolio outperformed the index in the mid to longterm! Who decides what the index weights are?Coinselection:Optimally the top 25 ranked coins on http://coinmarketcap.com/ are used for the index, but coins that fail to be liquid enough, will be dropped from the index. This is done to ensure, that one can always invest according to the index and not run into liquidity problems. Index weights:Index weights are calculated using their relative marketcapitalisations with the following constraints applied: - No altcoin weight can be >10%
- Index Rank 1-5: >=6%
- Index Rank 6-10: >=4%
- Index Rank 11-15: >=2%
- Index Rank 16-20: >=1.5%
- Index Rank 20-25: >=1%
The weights are then calculated using excels solver using the above-mentioned constraints. How can I invest to get the same performance as the index?You will have to invest into the same coins as the index weights and update your portfolio once a week, when the index weights change. In a few weeks, we will launch an ETF, that will do those investments for you. Feel free to ask anything you like!
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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Anise
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November 16, 2014, 11:53:03 PM |
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Wow that looks pretty cool. Is it just the top 25 coins on Coinmarketcap?
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USDbitfnx (OP)
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November 16, 2014, 11:58:13 PM |
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Wow that looks pretty cool. Is it just the top 25 coins on Coinmarketcap?
No, there are strict rules, that are followed to calculate the exact weights and coinselection. I updated the FAQ in the op.
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USDbitfnx (OP)
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November 16, 2014, 11:59:37 PM |
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This weeks weights were calculated in the following way: The following currencies were excluded to the above-mentioned liquidity problem: - FuelCoin (FC2) - Mastercoin (MSC) - Quark (QRK) - Zetacoin (ZET)
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CryptKeeper
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November 17, 2014, 06:58:55 AM |
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I can't open the site, error is "server not found". Could you please check, thanks. Edit: Now it works, thank you!
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Follow me on twitter! I'm a private Bitcoin and altcoin hodler. Giving away crypto for free on my Twitter feed!
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devphp
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November 17, 2014, 10:14:59 AM |
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Cool project!
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USDbitfnx (OP)
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November 17, 2014, 12:09:27 PM |
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Thanks! Yes, that is how it is intended. It will be interesting to see how this project develops. Also I am very curious, how the top 25 cryptos will perform relatively to the BTC. What do you guys think?
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devphp
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November 17, 2014, 12:15:43 PM |
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Also I am very curious, how the top 25 cryptos will perform relatively to the BTC. What do you guys think?
It will be a mostly flat line in 2015, but 2016 should see quite a bit of upside action, so get ready to get bored for a while )
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USDbitfnx (OP)
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November 17, 2014, 12:17:39 PM |
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Also I am very curious, how the top 25 cryptos will perform relatively to the BTC. What do you guys think?
It will be a mostly flat line in 2015, but 2016 should see quite a bit of upside action, so get ready to get bored for a while ) Interesting You can add your voice here: https://bitcointalk.org/index.php?topic=860533.0
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2dogs
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November 18, 2014, 09:04:23 AM |
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Also I am very curious, how the top 25 cryptos will perform relatively to the BTC. What do you guys think?
It will be a mostly flat line in 2015, but 2016 should see quite a bit of upside action, so get ready to get bored for a while ) I have to agree mostly flat because most (except for a small %) require BTC for the alt coin purchase.
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TwinWinNerD
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CEO Bitpanda.com
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November 19, 2014, 12:14:26 AM |
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Also I am very curious, how the top 25 cryptos will perform relatively to the BTC. What do you guys think?
It will be a mostly flat line in 2015, but 2016 should see quite a bit of upside action, so get ready to get bored for a while ) I have to agree mostly flat because most (except for a small %) require BTC for the alt coin purchase. Yes, but there were serious BTC inflow to cryptos in 2nd half of 2013 followed by a big outflow since. So if we think that longterm BTC will increase in price, it is not too unlikely that there will be a net-BTC-inflow to cryptos.
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USDbitfnx (OP)
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November 20, 2014, 10:57:15 PM |
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The index outperformed Bitcoin a total of 4%.
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Hashpersec
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November 21, 2014, 02:52:49 AM |
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Nice work, I think this will be very useful.
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tokyoghetto
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November 21, 2014, 02:55:44 AM |
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this looks exciting. great work.
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USDbitfnx (OP)
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November 21, 2014, 04:25:27 AM |
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this looks exciting. great work.
Thank you! The index is now 6% over BTC performance. http://jnxt.org/crypto25/
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MicroGuy
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November 21, 2014, 06:03:25 PM |
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Very nice project and website. Thanks for making such a valuable tool!
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USDbitfnx (OP)
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November 23, 2014, 12:57:11 AM |
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Very nice project and website. Thanks for making such a valuable tool!
Thank you very much! This is getting really scary now: 11% up vs Bitcoin this week alone. http://jnxt.org/crypto25
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USDbitfnx (OP)
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November 23, 2014, 02:08:18 AM |
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This weeks Index weight update was just performed:
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USDbitfnx (OP)
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November 26, 2014, 05:49:11 AM |
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We are now at 13.5 % outperformance compared to BTC. This is incredible!
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