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RE: Coin ReputationRank: It's time to showcase the best investments for new crypto users. No more scam coins!
This seems like a very bad idea, there is no way to rank projects in the way you describe, even in a decentralized way. Although you might think that having a source to weed out these shitcoins is a good idea, it adds dangerous centralization to people's investment information. Investors of these "Netcoin plus" projects deserve to loose their money.
Investors in crypto need to mature if we want to see the market caps grow.
We talked about this a bit in the hangout today. There are sites like coingecko that give statistics far outside the realm of coinmarketcap. There ARE metrics that can help people figure out the health of a coin. I agree 100% that this is better than how cmc does it...however still does need improvement
Your right, there certainly are third parties that are bringing more metrics to the table. I would actually argue this mentality where some random coin listed on coinmarketcap has ~ a few hundred thousand trading around this new promise of mastersupernodes looks like an attractive investment. There is only one way these less educated investors are going to learn their lesson: they need to lose their money. What is happening now with the influx of money into this space is these "net coin plus" shitcoins are actually generating huge returns. Hardly causing any investor to learn anything meaningful.
Exactly. And pumping them is not cool becaise it simply amplifies the damage of each. If a coin doesnt have a solid community i say that sucks...and the coin will likely die. No devs? Again...death..
Buying a dead coin and BUILDING A PLATFORM OF TRUST so you can sell lies though is nothing less than total bullshit.
Right. But the only way investors are going to learn they need to look for tangible things like code and development is losing their money.
A lot of bullshit is going to get peddled before investors learn.
When Bitcoin was released in 2009 (and now it is 2017) that is 6 years of this... yes, I fully agree.. investors need to learn the hard way.
The problem is that new people are onboarding everyday, and it is no longer early investors that need to learn their lesson. We're past the early investor stage.
This is a new breed of investment, a new breed of banking. A new breed of money. We need to find ways to protect new oncomers from old scams and old ways of taking their money without government protection or intervention.
If any of this is going to become commonplace or mainstream, the crypto industry itself needs to come up with standardized checks and balances to give a hint to what is proper and is what is not...
If we don't, then crypto in general is always going to be seen as an underground scam and should never be trusted. That's the way mainstream news and govt is currently selling it. We need to break free from that mold. So what I am proposing with Coin ReputationRank is simply a start into the right frame of mind for new users that show up today and tomorrow.
It might not be picture perfect, but it's the right idea. Let's keep on this path...
I have the same idea to have a coin rank and ALSO a rank and reputation bank for inividuals who want to retain thir good ratings and reputation from al their clients and past customers all in one place...we need soething where anyone any comppany any coin can singup, or BE tagged by others, and maybe count how many users are all satisfied with he service they are offering.... consolidated centralized rating system.....like linked in I suppose....
yeah we should just add something to coinmarkketcap, some way for people to rate the coin on how good the etch is or how good of an experience they had with it.....
i ca tell im all our of idea,s its hard to thin an be on247! i will come back when i have more ideas onhow to do this whole coin rating system!
Yes...which is why I prefer to actually try to warn my following (those who trust me) of the scams in the space....instead of using my platform to perpetrate scams on them.
I dont disagree with u man...but shady IS shady.
If you see any of the crypto posts I make, I make it quite clear the dangers of these unsubstantiated shitcoins.
https://steemit.com/cryptocurrency/@kyle.anderson/crypto-markets-are-exploding-can-the-market-keep-up-revisiting-a-note-of-consensus-in-this-time-of-cryptocurrency-chaos
https://steemit.com/cryptocurrency/@kyle.anderson/burst-my-bubble-an-opinion-on-the-dangerous-influx-of-altcoin-posts
My point is that thete really isnt much of an excuse for craig using his platform to dump shitcoins on people.
Oh my gosh don't get me started about @craig-grant ... eventually when this site becomes larger, there will be less tolerance for his promotion. Whatever. I don't respect the hustle but people have to learn somehow.
Great point. Good considerations in the list though!
No Kevin, you might be wrong. Please come back and see what has developed since your last comment. Especially listen to this audio archive about what I said on "the air".. about it:
https://steemit.com/beyondbitcoin/@glitterfart/intelliguy-2017-04-28-beyond-bitcoin-radioshow-raw-recording-for-impatients