You bolded statement doesn't apply when there is potential manipulation due to a highly concentrated supply, only when that market value is the result of a credible market process. Which is exactly why serious investors who need to cover their ass* are going to stay the hell away from anything with such enormous red flags: because the market prices can't be trusted.
No doubt a few speculators will buy it, especially in a rising market, and there might be a bit of money to be made, but the big money won't go anywhere near it. The smell of fraud is Kryptonite to institutional investors, just as generalizethis astutely explained to you. Ignore at your peril.
If there were no other alternatives, then maybe, just maybe, the big money would hold their nose and go in. But that's nowhere near the reality. There are many alternatives. Dash won't make it past the first screen.
* "No one ever got fired for buying IBM." i.e. If as an asset manager, you buy something without enormous red flags and it goes down, you too an intelligent risk and it didn't pay off. If you ignore the enormous red flags and, you are an idiot and you get fired or sued.
And this goes for any coin, I don't even know if bitcoin is an exception in this, this is how the virtual currencies are.
If you think Bitcoin is bad then Dash is 100x worse. I shouldn't even need to explain why, but if I do just take a look at this thread.
That's really the point. When someone is surveying the market and looking for reasonable investments, they can find ones with far, far less in the way of red flags than Dash. If anything gets rejected on the basis of reputation and fraud risk, and many will, that will certainly include Dash.
The Dash leadership pretty much knows this which is why they keep changing names. It makes sense to at least try to get away from the past that way, but it won't work.
Markets do choose the coins, they choose the coins where there are the highest market caps and value for trading and margins And why? again money talks.
Basically virtual currency market cap = trust of coin
Yes please buy smoothcoin! It has a premined supply of one billion coins and I just sold one the other day for $1 = market cap $1 billion, right?
People would buy/sell the coin, if it had been proven in crypto-exchanges to be a valid coin and traded for years, so it really would have some "stable" value, which in turn comes into coins market cap.
The value is extremely stable. I sold another coin for $1 a few weeks ago, and a few weeks before that I sold one for 50c, so there is a nice rate of return going. I suggest you get in right away.
And whom are you calling a fraud?
According to you it is all good as long as it makes the money.
So basically what you are saying is that market cap is what counts but only if it meets the standards you have set for credibility and integrity.
What I'm telling you (and generalizethis is telling you, and anyone else who knows how these things work would tell you) is that Dash will likewise not meet the standards set by institutional investors. Just too many red flags in a competitive market where other coins don't have the same baggage.
Sorry to sound like a broken clock, but again money talks in this business.
That's why some new coins get listed on exchanges that previously were bitcoin and litecoin only.