Why has CoinMarketCap become totally misleading?

5 94
Avatar for realbitcoinclub
3 years ago

Look at this historical data of 2017, the beginning of BCH, when the statistics provided by CoinMarketCap had been relevant. That snapshot reflects which project was the most attractive for the community that wanted to have P2P Cash for the world.

https://coinmarketcap.com/historical/20171231/

Nowadays CMC is a marketing tool for Binance

Last year it was CZ from Binance who closed the deal and bought CMC for half a billion USD, why would he do that? Viewers! Promotion and Profits! Thats what private companies look out for.

In addition to that BNB has also entered the payments space when they first integrated their token into CryptoBuyer which is a Point Of Sale (POS) in Venezuela

This means that BNB is in competition with BCH and they would do anything to appear that their token is more useful than Bitcoin Cash is.

https://blog.coinmarketcap.com/2020/04/02/binance-and-coinmarketcap-announce-acquisition-to-collectively-make-cryptocurrency-more-accessible-for-everyone/

The value proposition of each network is what matters

BCH wants to deliver P2P payments to a free world to bring more freedom and peace to this world. These value propositions have infinite value, which can not be measured in dollars. So whenever you invest into Bitcoin Cash it means you want to be free and you want to be living in a free peaceful world. How would you measure that in USD?

Tether and other stablecoins

When CMC was developed the pegged dollar coins did not exist (some people call them stable but in reality they are super unstable because the supply is being inflated infinitely as the boss of the FED, federal reserve bank New York, mentioned last year)

Nowadays we see many different dollar pegged coins in the Top 100 which are bringing down the position of the legitimate bitcoins but in reality these dollar pegged coins also have infinite supply and measuring them on CMC makes no sense, as the real market cap of these coins is the same as the USD, infinite.

https://coingeek.com/tether-is-still-lying-to-you/

Cardano, Polkadot, Solana

These currently hyping networks are basically copies of Ethereum, their supply is also often unlimited and even if their supply is currently limited, they might change the network policies later on, because all these networks are centralized around a few developers or foundations which are also controlled by the same developers.

https://medium.com/@undersearcher/how-decentralized-is-cardano-d3a47f985ce1

Conclusion

Ask yourself, what your goal in life is, if you want to be free and living in peace then BCH is the best investment you can make.

If you want to make some quick money, that will also fade away quickly, then it makes sense to invest into any project that brings you the most profit.

You create the future for yourself and your kids, if you are ok with being rich but enslaved by government policies who do not serve the interests of yourself, then go for it and invest into anything that makes money.

Feliz Chelou, author of this article

Take care, money is a drug and many fell for the addiction of that drug, but for me time is the most valueable asset and any moment spent in freedom and peace has infinite value to me.

https://www.npr.org/2009/08/07/111579154/study-your-brain-thinks-money-is-a-drug

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+ 1
Avatar for realbitcoinclub
3 years ago

Comments

No doubt if you have then BCH is the best option for holding that token because when we see statics of 2017 the BCH value is $2530 and now its value is $542. So doubt it will increase after some time. Now we need to show patience instead of buying another token.

$ 0.00
3 years ago

The price is just the curtain of the theatre, behind the scenes the value proposition of each network is totally unique. Comparing BTC with BCH makes little sense, they serve different products. One is a luxury item for elites, the other is a coin for everyone. We saw how that worked out for apple which is now going extinct as Android ate all the market share slowly but surely.

$ 0.00
3 years ago

I overlook totally the rankings since numerous months. Nothing bodes well. Solana, Cardano, Polkadot, Avalanche, Luna.. What are those? Bitcoin Cash has 300,000 a bigger number of clients than every one of those positioned underneath Ethereum joined.

$ 0.00
3 years ago

I ignore completely the rankings since many months. Nothing makes sense. Solana, Cardano, Polkadot, Avalanche, Luna.. What are those? Bitcoin Cash has 300,000 more users than all those ranked below Ethereum combined.

$ 0.10
3 years ago

True story, luckily on CMC you can also check the statistics of each network where you can see the truth about user statistics and traffic

$ 0.00
3 years ago