I am not supporter of taking over such large projects in one hand, but we can not fall into paranoia. I don't think that such a takeover will have big impact on the market, unless you want to accuse Binance that want to use Coinmarketcap to manipulate information?
I think that this takeover may have some positive aspects, because for some time coimarketcap has been suspected of inaccurate checking of, for example, volumes of exchanges. I think that when Binance will check it, results can be more accurate.
Topic: SOS.BInance going to adquire coinmarketcap - crypto MONOPOLIZATION on way - page 4. (Read 684 times)
March 31, 2020, 06:00:13 AM
March 31, 2020, 05:59:46 AM
We still have options like https://www.coingecko.com/en, which is much better in my opinion.
And as far as cmc, I think people used it to quickly glance the price, so I don't think that you can consider it a end of decentralisation if ever Binance acquire it. So I don't think that we need to be alarm or something here as it will definitely not affect crypto's decentralisation.
And as far as cmc, I think people used it to quickly glance the price, so I don't think that you can consider it a end of decentralisation if ever Binance acquire it. So I don't think that we need to be alarm or something here as it will definitely not affect crypto's decentralisation.
March 31, 2020, 05:52:32 AM
Coinmarketcap is not, and never was, decentralized, so being bought out changes nothing from that front.
There are plenty of competitor websites you can use, but none of them are decentralized either.
Market cap is an inherently flawed metric, and tells us very little useful information about the value, worth, utility, development, etc., of a coin. Ranking coins by market cap appeals to newbies who don't understand any better and encourages people to spend their money on scams like BCash and EOS.
If you don't like that fact that Binance are starting to stick their grubby fingers in as many pies as possible, then don't use them. I have never used Binance (or any other centralized exchange for that matter), and I have absolutely no problem buying, selling, trading, using, and spending bitcoin.
There are plenty of competitor websites you can use, but none of them are decentralized either.
Market cap is an inherently flawed metric, and tells us very little useful information about the value, worth, utility, development, etc., of a coin. Ranking coins by market cap appeals to newbies who don't understand any better and encourages people to spend their money on scams like BCash and EOS.
If you don't like that fact that Binance are starting to stick their grubby fingers in as many pies as possible, then don't use them. I have never used Binance (or any other centralized exchange for that matter), and I have absolutely no problem buying, selling, trading, using, and spending bitcoin.
March 31, 2020, 05:43:44 AM
Neither Binance or Coinmarketcap is decentralized, so i don't see how it threat decentralization at all.
Even though it's true Binance will have more influence on cryptocurrency world, there are various alternative of CMC which have more features and better reputation such as CoinCap and BitcoinAverage.
Even though it's true Binance will have more influence on cryptocurrency world, there are various alternative of CMC which have more features and better reputation such as CoinCap and BitcoinAverage.
March 31, 2020, 05:39:16 AM
Binance acquiring Coinmarketcap is the end of decentralization? I think you are over reacting. First of all, Coinmarketcap is just one of the many websites for tracking prices, volumes, and other crypto-related things. If you don't like the change in ownership, switch to other data aggregators like Coingecko, Bitcoinaverage, Cryptocompare, Nomics, and many others. Coinmarketcap is the most visited and most popular right now but it doesn't mean they are the most accurate and most trusted by serious traders.
March 31, 2020, 05:26:09 AM
Please help me spread this!we can't allow this to happen. We MUST do something or the monopolization of Binance will end with crypto.
What the hell is going on? coinmarketcap to be adquired by Binance?
Coinmarketcap sold for 400M. Cryptoindustry will belong to Binance.
https://www.theblockcrypto.com/post/60371/binance-is-set-to-acquire-coinmarketcap-the-deal-could-be-worth-as-much-as-400-million
Post edited: I don't know what the hell I wrote about end of decentralization, in fact it is the path to MONOPOLIZATION!!
Let me remind you that this is the guy that suggested Bitcoin's ROLLOVER to recover the 7000BTC hacked to his exchange. Now he would be able to manipulate also the top1 cryptoaggregator.
What the hell is going on? coinmarketcap to be adquired by Binance?
Coinmarketcap sold for 400M. Cryptoindustry will belong to Binance.
https://www.theblockcrypto.com/post/60371/binance-is-set-to-acquire-coinmarketcap-the-deal-could-be-worth-as-much-as-400-million
Post edited: I don't know what the hell I wrote about end of decentralization, in fact it is the path to MONOPOLIZATION!!
Let me remind you that this is the guy that suggested Bitcoin's ROLLOVER to recover the 7000BTC hacked to his exchange. Now he would be able to manipulate also the top1 cryptoaggregator.
Jump to: