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Topic: Decentralized altcoins which (probably) never will be securities (Read 149 times)

d5000
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
Decentralized altcoins which (probably) never will be securities
July 07, 2024, 06:00:45 PM
#2
Like in the Spanish and German editions I have created a new format of this list with ATHs and some more values. The links in the left column go to the ANN threads. The ranks are based on Coingecko. FDV means "Fully Diluted Value", i.e. the market cap when all coins of the maximum supply are mined or minted.

This is the current state as of 07-07-2024:

Rk.Name (ticker)PriceMarket CapChange 7dATHNotes
1Bitcoin (BTC)56427.60 $
(1.0000 BTC)		1115191209987.9 $
19719634.0 BTC
FDV 1187598887978.7 USD		-8.72 %73737.94
(2024-03-14)		PoW (SHA256) Launch 2009
10Dogecoin (DOGE)0.1048 $
(0.000002 BTC)		15241525424.4 $
269383.2 BTC
FDV 15242048827.5 USD		-15.03 %0.7316
(2021-05-08)		PoW (MM) Launch 2014, merged mined with Litecoin
23Litecoin (LTC)62.25 $
(0.0011 BTC)		4663605172.0 $
82425.9 BTC
FDV 5242423613.8 USD		-17.08 %410.26
(2021-05-10)		PoW (Scrypt) Launch 2012, optional MWEB Privacy
26Kaspa (KAS)0.1602 $
(0.000003 BTC)		3869641484.1 $
68448.4 BTC
FDV 3869859423.5 USD		-13.04 %0.1916
(2024-06-05)		PoW (GhostDag) Launch 2021, mini blockchain scheme
33Monero (XMR)151.78 $
(0.0027 BTC)		2812941284.9 $
49716.8 BTC
FDV 0.0 USD		-9.57 %542.33
(2018-01-09)		PoW (CryptoNight) Launch 2014, Privacy (ring signatures)
195Dash (DASH)22.07 $
(0.0004 BTC)		263343971.8 $
4654.4 BTC
FDV 419753853.9 USD		-9.19 %1493.59
(2017-12-20)		PoW urspr. XCoin/Darkcoin, Launch 2014, Privacy (masternodes)
216Ravencoin (RVN)0.0167 $
(0.000000 BTC)		234914335.1 $
4155.3 BTC
FDV 351531321.9 USD		-14.95 %0.2852
(2021-02-20)		PoW Launch 2018
257Flux (FLUX)0.5296 $
(0.000009 BTC)		185319791.9 $
3275.4 BTC
FDV 233317092.3 USD		-15.93 %0.0164
(2021-01-13)		PoW Launch 2018, Masternodes
741Pirate Chain (ARRR)0.1644 $
(0.000003 BTC)		32269071.1 $
570.8 BTC
FDV 32891745.0 USD		-8.89 %16.76
(2021-04-23)		dPoW Launch 2019, Privacy
915Koinos (KOIN)0.2546 $
(0.000005 BTC)		21293087.1 $
376.6 BTC
FDV 21293087.1 USD		-18.18 %2.28
(2023-11-22)		PoW/PoB Launch (Mainnet) 2022
1274Peercoin (PPC)0.3529 $
(0.000006 BTC)		10138465.2 $
179.2 BTC
FDV 9606754.8 USD		-18.58 %9.45
(2018-01-13)		PoW (SHA256)/PoS Launch 2012
1715Grin (GRIN)0.0272 $
(0.000000 BTC)		4691962.7 $
83.0 BTC
FDV 0.0 USD		-3.17 %261.65
(2019-01-16)		PoW Launch 2018, MWEB Privacy
1843Vertcoin (VTC)0.0569 $
(0.000001 BTC)		3771366.6 $
66.7 BTC
FDV 4540834.8 USD		0.61 %9.80
(2017-12-05)		PoW/PoS
1945Navcoin (NAV)0.0414 $
(0.000001 BTC)		3189165.7 $
56.4 BTC
FDV 0.0 USD		-10.23 %4.93
(2018-01-12)		PoS Launch 2014
2131Feathercoin (FTC)0.008475 $
(1.5E-7 BTC)		2369575.1 $
41.9 BTC
FDV 2852717.6 USD		-8.67 %1.29
(2013-11-30)		PoW
2161Signum (SIGNA)0.001026 $
(2E-8 BTC)		2228446.7 $
39.4 BTC
FDV 2228448.1 USD		-7.67 %0.1219
(2018-01-06)		PoC Launch 2014, originally Burst, first proof-of-capacity coin
2179BlackCoin (BLK)0.0345 $
(0.000001 BTC)		2167923.6 $
38.3 BTC
FDV 3447457.9 USD		2.22 %0
()		PoW/PoS
2209Gridcoin (GRC)0.004503 $
(8E-8 BTC)		2065505.1 $
36.5 BTC
FDV 0.0 USD		5.74 %0.2142
(2018-01-09)		PoW
2213Fedoracoin (TIPS)0.000003 $
(0E-8 BTC)		2051800.6 $
36.3 BTC
FDV 0.0 USD		-8.18 %0.0001802
(2021-04-16)
2227Mooncoin (MOON)0.000003 $
(0E-8 BTC)		613786.8 $
20.0 BTC
FDV 1028942.6 USD		0.00 %13.11
(2019-07-06)		PoW Launch 2013
2611PirateCash (PIRATE)0.0191 $
(0.000000 BTC)		1125428.8 $
19.9 BTC
FDV 2008499.7 USD		-2.70 %0.2423
(2021-04-25)		 Privacy
2858Cloakcoin (CLOAK)0.1258 $
(0.000002 BTC)		756915.7 $
13.3 BTC
FDV 566176.3 USD		48.78 %31.28
(2018-01-02)		PoW/PoS
2924Primecoin (XPM)0.0270 $
(0.000000 BTC)		687529.8 $
12.1 BTC
FDV 0.0 USD		-12.29 %7.27
(2013-11-30)		PoW Launch 2013, prime number based PoW
3035Quark (QRK)0.001283 $
(2E-8 BTC)		693847.0 $
11.3 BTC
FDV 716124.4 USD		-46.25 %1.49
(2018-08-24)		PoW Launch 2014
3120Zclassic (ZCL)0.0520 $
(0.000001 BTC)		482767.1 $
8.5 BTC
FDV 595854.2 USD		-1.77 %230.95
(2018-01-07)		PoW Privacy (ZK)
3122EmerCoin (EMC)0.009999 $
(1.8E-7 BTC)		481188.0 $
8.4 BTC
FDV 9999125.6 USD		142.58 %11.21
(2018-04-18)		PoW/PoS
3156Riecoin (RIC)0.006788 $
(1.2E-7 BTC)		455381.4 $
8.1 BTC
FDV 570166.4 USD		-15.64 %0.5692
(2018-01-13)		PoW Launch 2014, prime number based PoW
3178BitcoinZ (BTCZ)0.000035 $
(0E-8 BTC)		438751.0 $
7.8 BTC
FDV 730987.2 USD		-27.59 %0.02246
(2018-01-09)		PoW
3364Pandacoin (PND)0.000009 $
(0E-8 BTC)		317056.5 $
5.6 BTC
FDV 288020.3 USD		-12.35 %2.91
(2018-08-29)		PoW/PoS
3414VeriCoin (VRC)0.000163 $
(0E-8 BTC)		41786.1 $
1.5 BTC
FDV 0.0 USD		-85.26 %4.63
(2018-01-10)		PoW/PoS Launch 2014
3665Terracoin (TRC)0.008122 $
(1.4E-7 BTC)		186541.9 $
3.3 BTC
FDV 341601.2 USD		-10.29 %6.80
(2024-01-18)		PoW Launch 2012, Masternodes
3682Pascal (PASC)0.004988 $
(7E-8 BTC)		197400.4 $
2.9 BTC
FDV 209510.8 USD		0.00 %5.31
(2018-01-13)		 alternative blockchain structure
3867Einsteinium (EMC2)0.000565 $
(1E-8 BTC)		127767.4 $
2.3 BTC
FDV 138937.1 USD		-54.34 %2.58
(2017-12-18)		dPoW
4149Gapcoin (GAP)0.003772 $
(6E-8 BTC)		66512.4 $
1.1 BTC
FDV 0.0 USD		-1.37 %2.38
(2022-03-30)		PoW Launch 2014, prime number based PoW
4170Bismuth (BIS)0.0206 $
(0.000000 BTC)		62432.9 $
1.1 BTC
FDV 0.0 USD		-3.59 %8.94
(2018-01-12)		PoW Launch 2015, alternative blockchain structure
Aeon (AEON)0.0893 $
(0.000002 BTC)		- $
- BTC
FDV 1642731.4 USD		-10.30 %9.01
(2018-01-08)		PoW (CryptoNight) Launch 2014, Privacy (ring signatures)
Deutsche eMark (DEM)0.001458 $
(3E-8 BTC)		- $
- BTC
FDV 306988.0 USD		-14.07 %0.5084
(2013-12-21)		PoW/PoS Launch 2014
GameCredits (GAME)0.002499 $
(4E-8 BTC)		- $
- BTC
FDV 500390.3 USD		-70.40 %6.67
(2018-01-13)		 Launch 2015?
Hobonickels (HBN)0.000607 $
(1E-8 BTC)		- $
- BTC
FDV 32670.8 USD		122.95 %0.069128
(2018-01-09)		PoW/PoS Launch 2013
I0Coin (I0C)0.0278 $
(0.000000 BTC)		- $
- BTC
FDV 0.0 USD		24.35 %12.33
(2016-03-13)		PoW Launch 2011
Karbo (KRB)0.0485 $
(0.000001 BTC)		- $
- BTC
FDV 0.0 USD		-1.48 %1.46
(2018-01-25)
MonaCoin (MONA)0.2822 $
(0.000005 BTC)		- $
- BTC
FDV 29698425.5 USD		-3.00 %16.45
(2017-12-06)		 Launch 2014
Namecoin (NMC)0.3945 $
(0.000007 BTC)		- $
- BTC
FDV 8304134.6 USD		-0.51 %13.11
(2013-11-29)		PoW Launch 2011, first altcoin ever, name registration system
Slimcoin (SLM)0.001130 $
(2E-8 BTC)		- $
- BTC
FDV 283007.7 USD		-8.60 %0.05319
(2019-02-08)		PoW/PoS/PoB Launch 2014, first coin with proof-of-burn
YACoin (YAC)0.000688 $
(1E-8 BTC)		- $
- BTC
FDV 0.0 USD		16.03 %0.006694
(2021-02-018)		PoW (Scrypt)/PoS Launch 2013
d5000
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
Re: Decentralized altcoins which (probably) never will be securities
June 14, 2023, 06:11:50 PM
#1
The recent SEC actions against crypto exchanges, but also the recent MiCa regulation in the European Union show that the authorities are slowly separating the crypto market into two tiers: Decentralized coins, with Bitcoin as the undiscuted leader, and centralized cryptoassets which may be regarded as "securities". In Europe according to MiCa, from 2025 on (probably) all people who want centralized cryptocurrencies to be traded or conduct an ICO, have to file a standarized whitepaper to the authorities and fulfill other regulatory steps.

So it would be interesting to answer the question: are there also altcoins that are unlikely to be classified as securities?

Criteria for decentralized, non-security altcoins

The SEC criteria are quite intransparent as of now, but the European criteria (which are at least as important, as EU almost doubles the US's population) are quite clear: To escape from MiCa, a coin needs to have "no identifiable issuer.":

Quote from: MiCa
This Regulation covers the rights and obligations applicable to issuers, offerors and persons seeking admission to trading of crypto-assets and to crypto-asset service providers.Where crypto-assets have no identifiable issuer, they do not fall within Title II, III or IV of this Regulation.
Source, recital 12a (p. 12).

This means that the coins need to have to be distributed in a completely decentralized manner for mining and validation tasks. I guess PoS would also be permitted. But if there is any kind of premine, we can already talk about an "issuer", as the developers have then issued some coins for themselves or to sell them in an ICO.

In the case of the US with its Howey test, things are a bit more complicated, as PoS for example has been described as a "common enterprise". But there is not much clarity. So I will concentrate here on the European definition: coins which are distributed in a purely decentralized manner and have no premine.

List of decentralized cryptocurrencies

>> Go here for the most recent list of decentralized cryptocurrencies (last update: 7-7-24) <<


Old list

Already some months ago I researched the top 200-300 coins on coin ranking sites like Coingecko/Coinmarketcap and the result is quite sad: there are only a few coins ranked high without premine. Here's the list of some well-known cryptocurrencies without premine (this is the original list, price data is outdated!):

Code:
Ticker Name   MarketCap (USD) Price (USD)  ATH          Notes

Market cap over 1 billion:

BTC    Bitcoin     486.3 bn.  25000     69000    (11/21)
DOGE   Dogecoin      8.3 bn.      0.059     0.75  (5/21)     meme coin
LTC    Litecoin      5.3 bn.     72       412.70  (5/21)  
XMR    Monero        2.4 bn.    132       519.76  (5/21)     privacy coin

10 million to 1 billion:


DASH   Dash           324 M.     28      1642.22 (12/17)     privacy coin*
RVN    Ravencoin      211 M.      0.017     0.28  (2/21)
ARRR   Pirate Chain    41 M.      0.21     16.87  (4/21)     privacy coin
MONA   MonaCoin        30 M.      0.35     11.13  (1/18)     meme coin
GRS    Groestlcoin     25 M.      0.30      3.08  (4/21)    
NMC    Namecoin        21 M.      1.47      9.22  (1/18)     first known altcoin

1 million to 10 million:

PPC    Peercoin         9.5 M.    0.34      9.92  (1/18)     first known PoS coin
VTC    Vertcoin         5.8 M.    0.09      7.81  (1/18)
GRC    Gridcoin         4.9 M.    0.011     0.55  (1/21)     BOINC participation reward
GRIN   Grin             4.8 M.    0.03     19.21  (1/19)     privacy coin
PND    Pandacoin        4.4 M.    0.0001    0.47  (5/21) 
NAV    NavCoin          3.6 M.    0.048     5.53  (1/18)  
SIGNA  Signum           2.7 M.    0.0013    0.23 (12/20)     known initially as 'Burst', first Proof-of-capacity coin
EMC    EmerCoin         2.4 M.    0.05     10.53  (1/18)     DNS on blockchain
GAME   GameCredits      1.8 M.    0.01      6.90  (1/18)
TIPS   Fedoracoin       1.7 M.    0.000003  0.00025 (1/18)   Has a premined secondary coin, Fedora Gold
BTCZ   BitcoinZ         1.6 M.    0.0001    0.03  (1/18)     privacy coin
EMC2   Einsteinium      1.4 M.    0.006     1.30  (1/18) 

200,000 - 1 million:

FTC    Feathercoin      814 K     0.003     0.72  (1/18)
BLK    BlackCoin        810 K     0.013     1.31  (1/18)
XPM    Primecoin        766 K     0.03      4.11  (5/18)     prime number algorithm
DEM    Deutsche eMark   766 K     0.005     4.89  (6/21)
AEON   Aeon             635 K     0.04      9.45  (1/18)
CLOAK  Cloakcoin        585 K     0.09     34.44  (1/18)     privacy coin
PIRATE PirateCash       478 K     0.009  3017    (10/22)     privacy coin
KRB    Karbo            428 K     0.044     1.23  (7/22)     privacy coin
ZCL    Zclassic         399 K     0.043   248.73  (1/18)     privacy coin
MOON   Mooncoin         373 K     0.000002  0.005 (7/19)     
QRK    Quark            288 K     0.001     0.079 (1/18)
RIC    Riecoin          359 K     0.005     1.14  (3/14)     prime number algorithm
PASC   Pascal           283 K     0.07      5.70  (1/18)     Pascal-based ref. implementation

Lower than 200,000:

TRC    Terracoin        152 K     0.015     0.64 (11/20)
GAP    Gapcoin          101 K     0.057  1305     (4/22)
YAC    YaCoin            55 K     0.004     0.006 (2/21)     
BIS    Bismuth           47 K     0.015   227.84  (7/22)     Python-based ref. implementation
SLM    Slimcoin          36 K     0.001     0.05  (2/19)     first Proof of burn coin

Low volume (take market cap with grain of salt):

I0C    I0Coin           371 K     0.017     5.58  (4/19)
CHAT   ChatCoin         102 K     0.00015   0.54  (1/18)
VRC    VeriCoin          27 K     0.0007    4.63  (1/18)     
DTC    Datacoin          10 K     0.0002    0.028 (3/18)     blockchain cloud storage

Unknown market cap:

HBN    Hobonickels     ?          0.0003    0.069 (1/18)


* Dash has been described as a "security" by SEC due to its governance mechanism.


The list may be incomplete, if you know a coin which could qualify (no premine and an independent, no-fork blockchain!) be invited to post it in this thread so I can review and add it!.

Edge cases: Dash etc.

Some of the coins on this list - particularly Dash - have been accused of being instamined. Dash has also another problem: the governance structure with a "trust". This governance structure has led the SEC to describe it as a security, even if Dash had no explicit premine nor explicit centralized structures. I consider Dash an edge case: it's likely in Europe Dash would not be classified as falling under MiCa.

Other languages

Similar threads have been opened in other languages:

Spanish - German

There is also a thread with a similar topic, but even more strict criteria by another user.
Self-moderation notes: All opinions are welcome, but outright spam and promotion of centralized coins will be deleted.
Bitcoin Forum>Alternate cryptocurrencies>Altcoin Discussion
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