Incorrect Bitcore(BTX) Circulating Supply on CMC - page 6.

minestro

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Bitcore (BTX) - The Future is Now

Quote from: Vigme86 on November 19, 2017, 06:29:32 PM

Quote from: minestro on November 19, 2017, 06:16:53 PM

Sorry, but can one of you both tell me the difference to BCH and BTG and every other fork of BTC? And therefore why BTX should treated in any way other than these coins?

I think it's a different situation. BTX is not a fork in the blockchain of BTC like BCH and BTG and has not the same exposure.

How can the exposure make any difference regarding a pure technical & theoretical issue like counting the coins in circulation? Don't you think arguing in such a manor is more politics than fact based decisions?
I really don't think a site, which pure purpose is IMHO to list and track the specifics of different coins, should start being judge of what counts as something or not. Because if they start to act like this, they begin being a judge or referee and make decision for the whole market. That's too much power for any party and is strictly against the decentralized concept being free of any regulating institutions of cryptocurrencies at all.

drm

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Quote from: gwestcot on November 19, 2017, 06:25:07 PM

How is this really any different than still counting Satoshi's coins or the millions of lost Bitcoin as being "in circulation"?

This is exactly why it's so ridiculous, why is this even a discussion.

Vigme86

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Quote from: minestro on November 19, 2017, 06:16:53 PM

Sorry, but can one of you both tell me the difference to BCH and BTG and every other fork of BTC? And therefore why BTX should treated in any way other than these coins?

I think it's a different situation. BTX is not a fork in the blockchain of BTC like BCH and BTG and has not the same exposure.

gwestcot

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QB Horse

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Quote from: Schtroumpf on November 19, 2017, 05:58:14 PM

Quote from: QB Horse on November 19, 2017, 05:38:17 PM

Even if over time more and more people will claim their BTX, one could argue that the vast majority of BTC holders will never claim their free BTX.

we could say the same thing for BCH ... and yet CMC count all frozen / forgotten coins

I know that's why option #1 is the logical choice to be fair with all other coins, but BTX didn't get any of the exposure BCH got since the August 1st fork. We could argue that in the eyes of CMC most BTC holders knew they got a free Bitcoin Cash on August 1st. Now, how many BTC holders know they got a 0.5BTX for free?

Now, the fact that BCH is well known and Bitcore not, has nothing to do with project or the dev team, it's just the nature of the beast!

Gregory Westcott, how many free BTX were claimed from the Nov 2nd snapshot?

Gregory, please also clarify my assumption ("Am I right if I assume that the only virtually forked BTX coins that are in circulation are the one that were claimed by BTC address holders")

If this quantity is small, it doesn't mean it will not grow over time, but still, it's a good indication of how many ppl knew about the Nov 2 snapshot.

gwestcot

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Quote from: MickeyT2008 on November 19, 2017, 06:13:15 PM

Option two of course, why would it be the first option? there is no sense with that at all.
Has anyone noticed that bitcore was just another pump & dump situation? just look at the price, it was less than 25$ by the beggining of the last week, and then suddenly pumped to more than $45 each one of them.
Now it is at $29 each and a lot of people invested money in there because they wanted to earn some free money from that.
Lets see how it goes, but it is a good project, only that it seems very shady to me, and that is why i will never put my funds into that coin.

Well to be fair option one is simply the way that CMC calculates every single other coin. Do you think all of Bitcoin Cash has been claimed? Do you think all of Bitcoin is truly "in circulation"? We are fine with being calculated by option 2 as long as everyone else is also calculated by option 2. We really just want fair treatment.

minestro

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Bitcore (BTX) - The Future is Now

Quote from: MickeyT2008 on November 19, 2017, 06:13:15 PM

Option two of course, why would it be the first option? there is no sense with that at all.
Has anyone noticed that bitcore was just another pump & dump situation? just look at the price, it was less than 25$ by the beggining of the last week, and then suddenly pumped to more than $45 each one of them.
Now it is at $29 each and a lot of people invested money in there because they wanted to earn some free money from that.
Lets see how it goes, but it is a good project, only that it seems very shady to me, and that is why i will never put my funds into that coin.

Quote from: Vigme86 on November 19, 2017, 06:10:32 PM

I think option 2 is a good compromise. It's highly unlikely all the BTXs during snapshot would be redeemed, and I still don't get why you have done it.
Anyway at least with option 2 would be like if it never happened.

Sorry, but can one of you both tell me the difference to BCH and BTG and every other fork of BTC? And therefore why BTX should treated in any way different than these coins?

MickeyT2008

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This account was recently hacked

Option two of course, why would it be the first option? there is no sense with that at all.
Has anyone noticed that bitcore was just another pump & dump situation? just look at the price, it was less than 25$ by the beggining of the last week, and then suddenly pumped to more than $45 each one of them.
Now it is at $29 each and a lot of people invested money in there because they wanted to earn some free money from that.
Lets see how it goes, but it is a good project, only that it seems very shady to me, and that is why i will never put my funds into that coin.

Vigme86

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I think option 2 is a good compromise. It's highly unlikely all the BTXs during snapshot would be redeemed, and I still don't get why you have done it.
Anyway at least with option 2 would be like if it never happened.

drm

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Quote from: Schtroumpf on November 19, 2017, 05:58:14 PM

Quote from: QB Horse on November 19, 2017, 05:38:17 PM

Even if over time more and more people will claim their BTX, one could argue that the vast majority of BTC holders will never claim their free BTX.

we could say the same thing for BCH ... and yet CMC count all frozen / forgotten coins

Yes it's the same for several coins... that's why this behaviour coinmarketcap is displaying now is ridiculous.
They have had 2 weeks to check everything out, what was their conclusion? What did they say? Make a thread on bct and make a voting poll?

Schtroumpf

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Quote from: QB Horse on November 19, 2017, 05:38:17 PM

Even if over time more and more people will claim their BTX, one could argue that the vast majority of BTC holders will never claim their free BTX.

we could say the same thing for BCH ... and yet CMC count all frozen / forgotten coins

QB Horse

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vantheman169

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Option 1! This is insane that Coinmarketcap is treating BTX differently than any other actual Fork of BTC. BTX is its own blockchain and has distributed BTX to all BTC holders over .01 BTC. Surely they would like to know they have BTX to claim. The coins are in circulation period. Just because some may never be claimed but the same is true for BCH.

Robsen99

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Option 1 !!

paperbox

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Option 1 is the true.

ciro1

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Bitcore (BTX) - Your Payment Coin

Actually I think most of the coins in the virtual fork would be lost forever and never in circulation, but surely it's the same with BCH and BCG with only difference in BTX being that many people with btc may not know plus people with less than 1btc in the address may not even bother claiming until maybe when btx is worth about $200 so imo a lot of those coins wont be in circulation, but sure they need to be accounted for as they will someday be in circulation as this project matures. I think CMC is just being a pain in the ass with this issue and need to get their shit together.

iamwhitewave

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Option 1. I believe it's the same calculation used for other cryptocurrencies.

iwosh

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The 1st option is the best, but maybe at least the second one is still much better than the frozen state.

On the other hand, the coins noone will ever claim from that second snapshot are lost, right? Because in that way is option 1 wrong.

-doubleU-

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Option 1 is the best Option. Is the same calculation like BTC, LTC and many other Coins

minestro

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Bitcore (BTX) - The Future is Now

Quote from: gwestcot on November 19, 2017, 04:15:10 PM

Quote from: minestro on November 19, 2017, 04:08:51 PM

Quote from: gwestcot on November 19, 2017, 04:05:18 PM

Quote from: minestro on November 19, 2017, 04:00:29 PM

Was there any response when, how and if they would consider the virtual forked coins as circulating supply. As there would be: never, when they are transferred from the fork address or when the fork address' amount is changed in any way?
They can't only say, "Sorry guys, it's done. The supply is going to be frozen forever.". Are they going to at least count the future airdrops into the circulating supply? That's all very strange.
Why do they don't count the virtual fork into the circulating supply? The money is accessible for the ones having the needed private key as every other address on the blockchain. I really don't get on what grounds they're arguing to not count the virtual forked coins. What's the criterium for a coin to be count into the circulating supply. There has to be a definition from their side.

I agree with you but I can't really answer your questions because there has not been a lot of open discussion between us. I cannot really speak for what their rationale is for freezing our circulating supply.

But this isn't in any way connected to the HitBTC listing? Like HitBTC saying they won't list BTX until the market cap problem is sorted out.

These two issues are completely unconnected.

Great, good to know. Thank you.

Topic: Incorrect Bitcore(BTX) Circulating Supply on CMC - page 6. (Read 4194 times)