Why You Should Never Judge A Cryptocurrency By It's Market Cap - MnTrendsNews

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Thursday, 15 February 2018

Why You Should Never Judge A Cryptocurrency By It's Market Cap

So, there's a whole lot of digital currencies springing up everyday, with each trying to gain relevance in the eyes of crypto currency enthusiasts. And one way they try to do that is by enticing them through their market capitalization. Ever heard of Ucash? If you haven't, don't despair! It's only proof that you can't judge a coin by it's capitalization.



Summary:

  • Market Capitalization,which we shall refer to as market cap is the total value of all coins in circulation multiplied by the price of their last trade.
  • Market Cap has sometimes proves to be an approximate guide to the relative size of crypto-currencies.
  • Gaming the system; the market cap system is very easy for anyone with Cursory knowledge of the system; It's a fake it till you make it system.
  • All one has to do is get a shitcoin with circulating supply of 150 billion, get a shitty exchange, sell one coin for $1 and boom! It's market cap is higher than that of Bitcoin.
  • It's what UCash which sits among the top 25 cryptocurrencies did and bang! it's becoming a sensation
  • UCash got a shitty exchange;BTC-Alpha; a dubious Russian site  registered in the UK, With 600 followers on Telegram, less than 2000 followers on Twitter and a logo stripped off of Maestro.


So guys, just as you are urged never to judge a book by it's cover, please never judge a new coin by it's market cap.

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