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A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

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Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#61

Post by rdlecler1 »

module0000 wrote: post #30
vthallam wrote: post #5

Earlier quoted context omitted.

When you are betting on Bitcoin or Ethereum, you are betting on the technology, developer community, ecosystem and the adoption. With Tron, there's hardly a product and Ripple while seems to have some successful pilots, is still far from realizing the dream of replacing the FIAT currency among banks.

>> When you are betting Full stop. You are trading or investing - if the word "betting" passes through your brain, stop now . The public surge of interest in crypto currencies is a redistribution of wealth from retail speculators to professional speculators. You aren't betting on the technology, developer community, ecosystem, or adoption anymore . At this point, you are betting you aren't the last one to the party.

Buffett calls investments bets all the time. Let’s call it what it is.

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#62

Post by kinkrtyavimoodh »

jachee wrote: post #55
pedrocr wrote: post #49

Earlier quoted context omitted.

>TRX is the literal definition of a shitcoin, yet the price pumped 10x in less than 10 days. So a "shitcoin" with a 9B$ market cap? We really are living in a brave new world of financial disruption...

I mean, even doge hit $2B market cap. And it's the parody cryptocoin.

It was intended as a parody but it is as legit a cryptocoin as any other, right?

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#63

Post by gnopgnip »

michaelbuckbee wrote: post #38
brndnmtthws wrote: post #6

It's facetious (and bad 'journalism') to claim $100B vanished. It was never there to begin with: market cap isn't something you can cash in on. It's merely the result of price multiplied by supply. If you owned a significant portion of all the coins in the world, and tried to sell them all at once, you wouldn't end up with number_of_coins * price, it would (realistically) be a smaller number given the market slippage…

I keep asking if there is a better term than than straight MarketValue (shares * share price). Quoting from a previous comment of mine: Imagine two different sets of digital objects: AlphaCoins and BetaCoins - they're identical in the say way physics professors say "imagine an infinite frictionless plane". Both have a 1000 in circulation. Both are worth $10 each. Both have a market cap of $10,000 US Dollars. But the…

Market cap is just one way of determining the value. You should consider others when making any investment/gamble. Many of the traditional ways of valuing a company can be applied to value a crypto currency. If the market cap is much higher than the net present value or discounted cash flow that is a sign of an overvaluation or bubble.

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#65

Post by dboreham »

I'm beginning to see how delusional it is to think you can make money by producing something useful or of value in people's lives. That's for lusers. Instead mess with the neural pathways of a large population such that they just give you their money.

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#66

Post by PhasmaFelis »

module0000 wrote: post #30
vthallam wrote: post #5

Earlier quoted context omitted.

When you are betting on Bitcoin or Ethereum, you are betting on the technology, developer community, ecosystem and the adoption. With Tron, there's hardly a product and Ripple while seems to have some successful pilots, is still far from realizing the dream of replacing the FIAT currency among banks.

>> When you are betting Full stop. You are trading or investing - if the word "betting" passes through your brain, stop now . The public surge of interest in crypto currencies is a redistribution of wealth from retail speculators to professional speculators. You aren't betting on the technology, developer community, ecosystem, or adoption anymore . At this point, you are betting you aren't the last one to the party.

When you play the stock market (telling phrase there), are you not making a bet that your stock will increase in value?

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#67

Post by tomkarlo »

PhasmaFelis wrote: post #66
module0000 wrote: post #30

Earlier quoted context omitted.

>> When you are betting Full stop. You are trading or investing - if the word "betting" passes through your brain, stop now . The public surge of interest in crypto currencies is a redistribution of wealth from retail speculators to professional speculators. You aren't betting on the technology, developer community, ecosystem, or adoption anymore . At this point, you are betting you aren't the last one to the party.

When you play the stock market (telling phrase there), are you not making a bet that your stock will increase in value?

Not necessarily, and not in the long term.

You can buy stocks with no expectation they will increase in value (or even maintain value) if the dividend yield is high enough. And stocks have value because of this - the assumption in any stock, even one currently without a dividend, is that eventually it will pay out some form of a dividend to its holders.

You may buy a stock hoping it will will rise in value, but that rise is predicated on the eventual delivery of cash via dividends or some other mechanism of distribution. Contrast that with say, Gold, where in fact it costs money to hold and there's no expectation it will ever generate any kind of dividend.

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#68

Post by tomkarlo »

Klathmon wrote: post #12
agotterer wrote: post #11

Earlier quoted context omitted.

I visit CoinMarketCap every single day and I don't recall ever seeing a notice or message about a change to the exchange listing.

Yeah that's really the only thing I can fault them on here. They really should have given some advanced notice that they would be changing how they calculate the averages. Especially since they have a widely used API that many people use, and I'm assuming some trading bots as well.

The problem with giving advance notice is the impact would just be felt at the time of the notice (bc smart traders will just determine the adjustment immediately.) I think the suggestion above to make the change immediate, but re-calc the historicals so the % change is still right, is probably not bad.

Re: A Cryptocurrency Website Changes Its Data, and $100B in Market Value Vanishes

#69

Post by noncoml »

dboreham wrote: post #65

I'm beginning to see how delusional it is to think you can make money by producing something useful or of value in people's lives. That's for lusers. Instead mess with the neural pathways of a large population such that they just give you their money.

Depends on what you want in life. If all you care about is money, then yes, your post makes sense.
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