A proposed change to misleading information on coinmarketcap.com (search parameters)

in #cryptocurrency7 years ago (edited)

G'day frothers,

I have been live streaming crypto conversations for about 6 months now. A concerning trend has taken over in recent times with many new viewers asking the question "What is the best coin to buy under $1". The simple answer is, coin price doesn't matter.

To help further educate the masses I used a "click-bait" title most likely to reach those searching for coins that represent value because of the per coin price. A phenomenon known as "unit bias".

In the video, I make reference to one of the leading sources of information in the cryptoeconomy (coinmarketcap.com) compounding the problem by enabling the "price per coin" search parameter as one of only 3 filters available.

Being this was a YouTube production I asked people to share and like the video.... but that's not how we do things here at Steemit.com .

Please advocate increased awareness of irrelevancy of "per coin price" and the importance of coinmarketcap.com consider the implications of making available a "coin price" search parameter to the potentially uneducated crypto newbies, by upvoting and resteeming this article

Stay stoked frothers,

Fish

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You are so right!
Unit bias can be remedied by including a further indicator called bitcoin price equivalence.

Basically this is the price of each coin by taking into account the coin's supply and the current market cap:
http://bpeindex.com/

Hope you find this useful!

Always appreciate extra information. Much appreciated legend. Followed.

Fish

followed you back! :)

Now really one wonders how vulnerable hte market can be because of misinformation...as there are limited number of sources for the whole market to get info...nice interpretation...good post

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