There likely is no good predictive statistic because the inherent value is whatever a group of irrational actors will pay for it.
Cryptocurrency
- Thread starter Playboi Carti
- Start date
There isn't a good standardized indicator of success for an entity that doesn't apply itself to standard procedures and rules, and thus operates entirely different from all other entities it's being compared to.
There's your answer.
Fair enough, I'm still going to use the data that's available to me, which is market cap and volume. Even tho it's not perfect.
That's alright, sentiment turned pretty quickly around here. I might have to get on my research sooner than expected.
You're misapplying things that you don't understand. I can't wait until you learn about the can't miss opportunities available in penny stocks. And I really wonder which MLM scheme you're going to get in to first.
Am I? I’m simply using market cap to judge where the market is at.
Volume doesn't really matter because most coins have a set amount of coins and cap doesn't matter because it's based on an arbitrary price per coin. It has no predicctive value
That particular marketcap chart is horrible because it includes ALL coins. There have been thousands and thousands of coins added in the last year. A billion in marketcap has been added these last 30 days alone. At the height of this bubble, I am sure it was way way more.
Bitcoin will be $2k this time next year, will float around there for 2019 before another rally in 2020 where it will be cut short because of government regulations. Stop using crypto as a serious invesment, use it as a currency as intended and to invest in the blockchain technologies.
Bitcoin will be $2k this time next year, will float around there for 2019 before another rally in 2020 where it will be cut short because of government regulations. Stop using crypto as a serious invesment, use it as a currency as intended and to invest in the blockchain technologies.
Just because something can be measured easily doesn't mean it's worth measuring.
Money and "As there is no central authority or central bank, there has to be a way of gathering every transaction carried out with a cryptocurrency in order to create a new block. Network nodes that carry out this task called dubbed 'miners'. Every time a slew of transactions is amassed into a block, this is appended to the blockchain. Whoever appends the block gets rewarded with some of that cryptocurrency."
In "mining" for natural resources, you don't dig up "coins" (or $$$). Rather, you dig up real things, like metals, that can be sold for "coins" (or $$$). In cybercurrency mining, is there anything being "dug up" other than "hidden coins?" For instance, is all that computing power being used to find things in the human genome that can cure cancer? Or are they scouring the web to find more targeted ways to market to people? Or is it just really, tough math problems? So far, it just sounds like a high stakes video game in which someone has hid coins.
I wish there were other uses for miners such as genome research - but they are specialized to only work on certain algorithms. Bitcoin ASICS don’t work for Litecoin, etc. GPUs - could probably do that.
Lots of outdated miners not being used in the future if/when crypto falls apart.
Lots of outdated miners not being used in the future if/when crypto falls apart.
Basically, the miner is providing the labor of creating the coin -- it's performing work. The labor cost of that work is supposed to give the coin value. The process of mining (usually hashing) can be used for different things, both tangible and proprietary. Hashing at its basic level is just doing math and then verifying said math -- it just depends what the purpose of the math is, which I believe can vary among coin types.
Blockchain tech itself can (and is) used outside of the coin realm for other purposes, and it has room to grow into that mold. It'll be a while, but I bet it will catch on largely due to how easily scalable it is. It will show to have uses in research.