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The market leader for cryptocurrency stock data, Coinmarketcap apparently thinks about having users vote on whether and which cryptocurrencies should be listed on the website.
Already on September 12, Coinmarketcap has posted a Twitter survey online, which is currently running for another two days to get the users voting. The website, which has been published in 2013 and has become an unwavering reference resource for cryptocurrency data, such as price, supply, stock market and overall market volume, and market capitalization, currently holds over 1,900 cryptocurrencies.
At the time of writing, 61 percent of the 5,634 respondents accepted the offer, while 29 percent said they had no reason to. Only 10 percent said they did not want the opportunity.
Coinmarketcap has also experienced controversy on several occasions, accusing the market manipulation platform. Among other things, Coinmarketcap had removed the South Korean stock exchanges from their price data last year because the deviations from the rest of the world were too high and showed excessive volatility.
In that sense, the survey and intent could be a preventative measure to avoid future controversy. If you want, you can still participate in the survey.
Voting means a full participation,in order to control business,one needs to be involve . this is a very significant point you brought to the table mr @tradewonk . i just upvoted you, keep it up
@tradewonk, In my opinion, the Vote System is sounding effective because we should choose what we want.
But there is one aspect which we have to think upon and that is who is Voting and why is voting for particular coin.
When we talk about the Cryptocurrency Sphere then we need use cases so that Crypto expands and get the needed Recognition.
We all know that we are not attracted masses till now, so still in my opinion the Voting System possibly stay as ineffective.
Wishing you an great day and stay blessed. 🙂
Voting is a bad idea. Why? For the same reason democracy sucks (see Plato's Republic on the issue).
Yes, voting is appealing to the masses but hypothetically; why give a bunch of people who have no interest in a given coin the power to vote the coin down? It creates the oppressive governmental system that cryptos are supposed to circumvent. It's a huge step backwards.
Granted; coinbase members are probably informed and interested in crypto currencies but how long will this remain so. In behavioral economics there is this; median voter theorem, which means the median outcome will win in a voting system. However, in any voting system almost no-one is a median as most people are on one of the extremes (in classic politics; left and right). Politicians want to be in the middle of the two camps because then both camps have a probability to vote them. Going on the right inevitably means alienating left voters and vice versa which is why politicians don't do it.
Similar things could occur for coins. Like, e.g.: what would prevent an SJW movement against "NAZI-coins" for example? Of course this is a hyperbolic example but I hope you catch my drift.
However my biggest contention against voting is why?
With digital currencies it is so easy to just implement all coins on an exchange (at least all of those who are requested by the exchange members and all of those who meet the exchange requirements - that is a voting process in and of itself - no additional layer of "official" voting is necessary).
TLDR; I think voting is stupid.
This is also right means, whatever rules hold by the exchanges that should be fulfilled by an project to list their token on exchange if not then no, and next aspects are depended upon the investors if they want to invest or ignore. Stay blessed. 🙂
Yes totally agree.
👍
CoinMarketCap has the power - many people looking into that website on a daily basis, some even on an hourly basis. This gives huge traffic into it. With this move I sort of feel that CoinMarketCap want to "monetize" their traffic.... I know I know, they are already doing it with adverts, banners on the top, on the side etc...
But remember the price tag, of listing the coin on the Binance, some speculating that the price tag is 1 mln USD. So why not Marketcap to actually get paid for the thing they do, and we all know they do it the best in the space! (most popular coin market capitalisation site in the space).
This is just my opinion, where all this "vote for coin listing" might be going.
Wow! Like seriously?
Well ı see no need for that since all cryptos on CMC are legit...except theyre trying to tell us something else
Thanks for the update. Coinmarketcap is a very vital platform. Let me proceed to tweeter and cast my vote there too.
Users should be able to vote. Its ethical that way as everyone gets the opportunity to show whether they are satisfastified or dissatisfied with the service. It then yields forth advocacy for a better service.
I don't think so this will be good, I will go for no.
No reason in my point of view.
My answer is yes!
it should be!
the coin which are manipulating badly should be removed.
Very good point.
Some coins are there, and newbies don't know about their business practises etc. So they buying into them. Meanwhile others who had these "bad" coins, or invested in them, had some bad experiences etc, being disapointed. The only way now is to go on the forums, or chats and spread the word about those bad experiences.
This is not to be good,Coins rate very down in these days,
I agree with your point... But I think all together manipulation opportunity Risk Profit All together
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I think it should be a no. I think that certains tokens would find a way to cheat the system. Keep it up to CoinMarketCap's choice when they believe that a token should be on there because they are trading and have some sort of value.
The only advantage would be more traffic to CMC and it has enough as it is.
I agree
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Last year at the high time of market coinmarketcap did major manipulation in market price. I loose my trust over it's data...I strongly recommended that every crypto investor should do own analysis rather that believing on this type of manipulated media houses.
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Often I watch coinmarketcap is a very valuable web of crypto community, I will try to upvote
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YES
I dont get the point of your post. But what I can say is CMC is really legit