I keep an eye on coinmarketcap for new coins - before it hits cmc, it's too early.
Here's the table,
http://coinmarketcap.com/currencies/views/all/
If you see a '?' in the last column (7 day change), that's a new coin that's just been added to CMC and is worthy of further investigation. Sometimes CMC makes a mistakes and puts a '?' in the last column, so to make sure, check the chart to make sure it doesn't have much history.
I have a script set up to report new coins hitting CMC for me that meet certain parameters.
It's not a guarantee, but it generally throws up coins that are worthy of further investigation.
Here's the table,
http://coinmarketcap.com/currencies/views/all/
If you see a '?' in the last column (7 day change), that's a new coin that's just been added to CMC and is worthy of further investigation. Sometimes CMC makes a mistakes and puts a '?' in the last column, so to make sure, check the chart to make sure it doesn't have much history.
I have a script set up to report new coins hitting CMC for me that meet certain parameters.
It's not a guarantee, but it generally throws up coins that are worthy of further investigation.
Thanks for the tip! I always get bogged down trying to weed through ANN posts for new coins but this method makes much more sense. I'll have to look into making a script of my own
I think I can figure that out, but what about these parameters you speak of? Just values from CMC? Thanks again
Doesn't still help me decide which coin to buy for an investment. is it just he CMC that we need to check?
what should we look for in the columns of Price, Available Supply and Volume?
Price is pretty irrelevant, available supply doesn't mean a lot on it's own, but volume is really important.
There are two key things I look at in a newly added coin - the market cap, the volume . . . and most importanly market cap divided by volume. That really tells a story - I like something around a ratio of 100. You won't get this number on CMC, gotta do that in your script.
You can see this even with larger coins - You want a good ratio . . . for example
Bitcoin 74:1
Litecoin 118:1
Compare that to larger coins with suspect valuations -
Ripple 1700:1
Bytecoin 979:1
Too large and it's a dodgy premine, too small and it's a pump'n'dump.