Re: ICO, IEO, STO, IDO, Fair Launch and Pre-Market, FAILED! What's Next?
That's a great point too. I cryptocurrencies deserve a classing system better than just "altcoin", "shitcoin", and "memecoin". There's not really an official or unofficial grading system other than these terms and vague terms like "utility token" that help to differentiate one cryptocurrency or token from another in terms of quality, which is a problem.
Here, I got you covered:
But to be more serious, 99% of the other coins would just be dumped into the "Shitcoins" category.
Pardon me, and I don't want to offend you, but it's actually so laughable that you included Ethereum in the second row together with Monero.
Ethereum deserves to be BELOW the third row with the other Proof Of Stake shitcoins in my opinion. If their developers didn't throw Proof Of Work out of the window, then MAYBE it deserves to be in the third row.
¯\_(ツ)_/¯
It depends how you look at it. Ethereum's network works with POS, and it works well. It's not to say it's as good as Bitcoin, though it works (is all I'm saying).
If you think of aspects like age, supply distribution, tokenomics, etc. Ethereum is good for its use case (as is Monero, which has its ups and downsides too but good for its privacy use case).
Anyhow, NotATether did not make the image - it was just an example pulled from somewhere. I'd agree that the image needs a lot more work to make it accurate, it's pretty bad categorization but the concept of what they're attempting is good.
Based on total coins and tokens deployed, I'd argue that even more than 99% would belong in the shitcoin category
While much better examples of a shitcoin could have been used in this image (there are some quality projects in the shitcoin section of that image), that visual is just about what I was picturing to pair with research frameworks, including conditions that properly evaluate a cryptocurrency/token.
It's always like that, only very few coin can be considered gem and finding one is as easy as just picking the coin with most trading volume.
The rest are just nuisance. Just see how many coin have been rugged these past few months from mantra to kinto, etc.
I completely agree
