The video transports exactly the daily frenzy in the crypto scene. Loud shouting market makers making a big fuss with every ermerging coin and produce pump and dump schemes also for the most recognized cryptocurrencies. Lacking of true fundamental analysis is everywhere, because it's quite complex task to evaluate just one and also compare all the important currencies at once, BUT coinmarketcap.com has the data base to do that in the future, like gurufocus.com or ycharts.com for stocks for example. If someone evaluates a coin and explains why the price should hit a certain amount and not even take the supply of a coin into account then i have big concerns about the accuracy of the prediction.
The success of coinmarketcap.com is for me due the easy to digest Toplist with quickest updates of market moves. You see many valuable information on one page with short loading times and the detailed page with market volume chart for example reveals even more valuable information about the currency. Just to take an example. I bought in the EOS ICO in the first wave and coinmarketcap.com helped me to notice the massive price jump at the next morning after launching at a big exchange. Also to get a quick list of all available exchanges for a coin is great and see the spread like the crazy phenomenon in the split of Bitcoin Cash. It is the most valuable source for me if i need near realtime information about the crypto market.
I would like to see any realtime widget in Steemit for example from coinmarketcap.com and vice versa. You bring up a great idea to connect Steemit posts. There is a whole bunch of valuable posts and discussions about crypto here. That would be a valuable source like the articles section on finanzen.net, messageboard on yahoo finance or many others. It would be a catalyst to the whole platform if we connect and make the value visible to the world.
Completely agree with you. Bad money, drives out Good money. The money that was suppose to go into good projects will be going into sham projects. It has multiplier effect as it will erode peoples confidence from both the directions.
I have seen so many people who have been investing in Cryptos for couple of months not realising the circulation of coins and only looking at their price. People should start looking at Market Caps and Normalised Prices of Cryptocurrencies.
Until that happens and there more tools to see right through the pump and dump schemes Crypto will be highly volatile and many innocent people will loose their money.
One of the reasons why i tend to stay away from crypto vloggers.. well except this one coz at least hes being upfront with it and its actually quite hilarious. And yes, I've come across quite a number of enthusiasts that only focuses on the price point per coin without taking into account the network value (derived from the supply cap).. anyway most experts even have trouble trying to understand the fundamentals, and most dont even know whats going on with the crazy valuations! I think it's also quite difficult to try to bring traditional knowledge to try to make sense of things. Personally i think crypto valuations are more like futures, and most cryptos are in the realm of the collaborative commons.. but those price spikes can only be the work of folks piling on despite buying at what seems to be the peak when it happens, which is truly a fomo phenomenon, dreaming of crazy returns
i agree, it's very hard for a traditional investor. I'm personally a typical buy and hold value investor with some basic knowledge to find value. In the crypto scene it's for me currently more guessing or simply higher risk than in the common stock market. But if you not follow the herd and do your homework without fomo then i think it is possible get at least a sense what's worth for a deeper look and what's not. For me i trying first to sort out what's a typical asset or base technology for many applications, what's their unique selling point in comparison to established assets and then what's a typical coin built on an existing asset and what's their unique application. But that's just the peak of the iceberg.