Quote from: cellard on January 10, 2018, 04:15:51 PM

Quote from: Qoheleth on January 09, 2018, 11:47:13 PM

You do realize that the market cap is just the price times the number of coins in existence, right? Of course the market cap will be lower when the price was lower.

It's one of the main reasons why all these shitcoins are a total joke. For example, Ripple, and all these premined scamcoins, create an huge supply of coins, and if someone buys just $1 USD worth, the huge premined supply will now become the marketcap at a vlue of $1 USD each.

So a shitcoin generates 100,000,000,000 tokens, someone buys $1, and now the marketcap is $100,000,000,000, it's a total joke. Coinmarketcap is so misleading to newbies that think Bitcoin has real competition. All of these shitcoins have manipulated supplies with very dodgy history behind like developers burning coins in purpose, generating them, airdropping them... it's nuts.

If it's part of the circulating supply then how is that a joke? The only scenario I could see is if circulating supply is actually reported at about say 1m but founders tokens are circulating (for example) but there's no way they'll be sold. But this is the same for bitcoin and satoshi's holdings.