Crypto Currency Thread

[anonymous-user]

Behemoth said:

Market cap is an absurd amateur metric. Anyone can generate 1 trillion tokens & sell 1 token to a friend for $1 to create $1 trillion of market cap. It's mickey mouse economics.

Everything needs a measure, I think it gives a good indication of the direction the market is going and has done for years.

[g4ry13]

Thesprucegoose said:

Whatever anyone says that is not an uptrend

Can we see a chart from the last few years? You can frame a chart any way you like if you're selective with the time frame and sample taken.

[anonymous-user]

g4ry13 said:

Can we see a chart from the last few years? can frame a chart any way you like if you're selective with the time frame and sample taken.

We all know what the trend was until December, I was talking about this year's prediction.

[bongtom]

Behemoth said:

Market cap is an absurd amateur metric. Anyone can generate 1 trillion tokens & sell 1 token to a friend for $1 to create $1 trillion of market cap. It's mickey mouse economics.

Anyone? Go on then. Do it.

No. Thought not.

That doesn’t stop crypto fanbois using it though does it...but then you wouldn’t Poo poo it.

I reckon you own Coindesk or one of the other trading platforms. It all makes sense now.

[Behemoth]

bongtom said:

Anyone? Go on then. Do it.

No. Thought not.

That doesn’t stop crypto fanbois using it though does it...but then you wouldn’t Poo poo it.

I reckon you own Coindesk or one of the other trading platforms. It all makes sense now.

Paccoin was up there for a while until this site bumped it off the rankings. $360,778,436,940 "market cap" . Some rich token bros there, eh,? https://coinmarketcap.com/currencies/paccoin/

[anonymous-user]

Behemoth said:

Paccoin was up there for a while until this site bumped it off the rankings. $360,778,436,940 "market cap" . Some rich token bros there, eh,? https://coinmarketcap.com/currencies/paccoin/

Is anyone saying it should be taken as verbatim, no, it is a useful indicator. The same as all top coins txs dropping.

After the massive jump a lot said it would continue to go higher, and it hasn't.

[bongtom]

He’s as bad as the pump and dump lot.

[tumble dryer]

bongtom said:

He’s as bad as the pump and dump lot.

If you're talking about Behemoth, you'll find that most here recognise him as the most knowledgeable poster the forum has on Crypto, and that he's more than willing to share his knowledge.

He's also fairly adept at spotting idiots too.

[tertius]

bongtom said:

Behemoth said:

Market cap is an absurd amateur metric. Anyone can generate 1 trillion tokens & sell 1 token to a friend for $1 to create $1 trillion of market cap. It's mickey mouse economics.

Anyone? Go on then. Do it.

No. Thought not.

That doesn’t stop crypto fanbois using it though does it...but then you wouldn’t Poo poo it.

I reckon you own Coindesk or one of the other trading platforms. It all makes sense now.

Generating the tokens is pretty easy I believe especially if you use ERC20 tokens; the difficult bit is getting them traded on an exchange and then on coinmarketcap, as an OTC trade won’t really help with creating a visible market cap.

However, the fundamental point is right that market cap is pretty misleading, and should only be used as one indicator amongst others. Daily trade volume seems much more useful to me as it gives a reasonable indication of the actual demand.

[bongtom]

tumble dryer said:

bongtom said:

He’s as bad as the pump and dump lot.

If you're talking about Behemoth, you'll find that most here recognise him as the most knowledgeable poster the forum has on Crypto, and that he's more than willing to share his knowledge.

He's also fairly adept at spotting idiots too.

^ Yes, I see him too.

[Behemoth]

Awesome crypto explainer on John Oliver's US comedy show last night: https://www.youtube.com/watch?v=5qtcDrv_xDs . Well worth sharing to any neophytes in this space.

[Behemoth]

tertius said:

market cap is pretty misleading, and should only be used as one indicator amongst others. Daily trade volume seems much more useful to me as it gives a reasonable indication of the actual demand.

"Market cap" would be far better termed notional network value imo. There are some reasonable attempts to combine it with trade volumes, which gives you the NVT metric. The downside is that it has caveats from the two source variables like missing tx data for privacy coins & issuance anomalies from "market cap". More here: https://coinmetrics.io/nvt/ (useful downloads there btw, such as a daily $ price from inception) and it is also used as a column here: https://onchainfx.com/

[Shuvi McTupya]

Behemoth said:

Awesome crypto explainer on John Oliver's US comedy show last night: https://www.youtube.com/watch?v=5qtcDrv_xDs . Well worth sharing to any neophytes in this space.

It's gone

[Behemoth]

Shuvi McTupya said:

It's gone

Ugh, YouTube copyright cat & mouse. Just search for John Oliver bitcoin in the last day & I'm sure you'll find one yet to be taken down. I think the network (HBO?) publishes his shows for UK viewing after a few weeks.

[Behemoth]

Fiat to Bitcoin & back (and a few others) is about to get a lot easier in the UK. Coinbase has been accepted by the UK's faster payments system: http://www.cityam.com/282196/coinbase-granted-lice... .

[Luke.]

Behemoth said:

Fiat to Bitcoin & back (and a few others) is about to get a lot easier in the UK. Coinbase has been accepted by the UK's faster payments system: http://www.cityam.com/282196/coinbase-granted-lice... .

Yay. About time too. But that's great news.

[XMT]

tumble dryer said:

bongtom said:

He’s as bad as the pump and dump lot.

If you're talking about Behemoth, you'll find that most here recognise him as the most knowledgeable poster the forum has on Crypto, and that he's more than willing to share his knowledge.

He's also fairly adept at spotting idiots too.

I agree, I have read what Behemoth has written for a while now and he gives a very balanced viewpoint on crypto.
Seems very knowledagble on the ins and outs of crypto; I always look forward to reading his posts in this space.

[anonymous-user]

Crypto falling a lot today, a few months ago this would have caused pages of posts but seems nobody cares anymore.

[anonymous-user]

Joey Deacon said:

Crypto falling a lot today, a few months ago this would have caused pages of posts but seems nobody cares anymore.

The problem is how you measure success. The BTC fanbois always look to the future. It hits 10k they say 100k next. If it dips then it is short term. I remember people posting that the high value of BTC was putting people off lol. It is like collective delusion sometimes. I personally think it is fairly successful now, the BTC % increase has fallen each year maybe the times if 10x a year will wain and x2 x3 etc may be the norm, slow substained growth.

Mass media saturation,the fact that big companies jumped in with coins is also not a good sign.

[NRS]

XMT said:

tumble dryer said:

bongtom said:

He’s as bad as the pump and dump lot.

If you're talking about Behemoth, you'll find that most here recognise him as the most knowledgeable poster the forum has on Crypto, and that he's more than willing to share his knowledge.

He's also fairly adept at spotting idiots too.

I agree, I have read what Behemoth has written for a while now and he gives a very balanced viewpoint on crypto.
Seems very knowledagble on the ins and outs of crypto; I always look forward to reading his posts in this space.

Kind of. He has very clear ideas on what he thinks is important, and views it as stupid to go for other things. Whereas some others view what can sometimes be the opposite of his views as being important to work (for example if ETH will be the thing that works, or will be a big failure).

Speaking about ETH and crypto, anyone buying any BunnyTokens?