Quote from: Come-from-Beyond on December 26, 2014, 07:39:46 PM

Quote from: johnyj on December 26, 2014, 06:59:48 PM

POS=no production cost=no value

If I can produce a coin without any cost, why should I pay any thing valuable to exchange it??? I will just go ahead to mine it

Fiat money can have value without production cost, because there is a law to force its circulation, and the cost to make that law can be a war, which costs millions of times more energy than POW mining

Then http://coinmarketcap.com/ gives us incorrect information... or you are just wrong.

Yes, those information are meaningless

Imagine that I create a coin with 500 coins total supply, I hold 499.999 and sell the rest 0.001 to my another account at a market price of 1000 dollar, I will get a coin exchange rate of 1 million and a market capital of 500 million. With a small amount of capital and a good scheme I can pump the coin price by 10-100 fold and start to dump the rest of my coins