[throw101010]

Firstly I don't understand who you are "answering" to, the GP didn't talk about Market Cap as a relevant metric.

Secondly, Market Cap is only relevant when reported by popular metrics websites which vet their data sources a little... nobody relevant is listing your coin anywhere, sorry if it disappoints you.

Thirdly, I'm sure that in your first year as a veteran you will learn to care for coins/token which have liquidity/volume either on reputable CEXs or in tokens/networks with a good track record on DEXs.

You can't really game liquidity for long without risking your capital.

I know this is HN, so I would expect less low brow criticism... but who am I kidding this is about cryptocurrencies, rules don't apply.

[mbesto]

> Firstly I don't understand who you are "answering" to, the GP didn't talk about Market Cap as a relevant metric.

No but they were clearly refuting the alternative suggestion (nodes) was game-able. That was my point.

> Market Cap is only relevant when reported by popular metrics websites which vet their data sources a little

> you will learn to care for coins/token which have liquidity/volume either on reputable CEXs or in tokens/networks with a good track record on DEXs.

This is hilarious, because your idea is that:

- It's a popular metrics website

- You believe they are vetted

by a centralized web site, is the exact antithesis of cryptocurrencies. What happened to decentralization?

> You can't really game liquidity for long without risking your capital.

Sure, but why is that relevant here? We're not talking about liquidity as being the relevant metrics, we're talking about market cap.

Market cap is such a hilarious concept for cryptocurrencies because it converts everything to a fiat, which, again, is the antithesis of cryptocurrency.

> I know this is HN, so I would expect less low brow criticism... but who am I kidding this is about cryptocurrencies, rules don't apply.

Meeting low brow comments with low brow comments, chapeau!

[once_inc]

Not OP, but:

> by a centralized web site, is the exact antithesis of cryptocurrencies. What happened to decentralization?

A centralized cryptocurrency is an antithesis. I don't care if any of the products or websites in the surrounding ecosystem are centralized: all I care about is that bitcoin remains decentralized.

Decentralization is a force that limits usefullness. Bitcoin is useful only as a base layer; digital gold that higher layer (more centralized) systems can use to settle down to. Being more centralized offers features Bitcoin doesn't have (high throughput, easy onboarding, etc) at a cost of new risks (counterparty risk, etc). Settling down at the behest of the user allows those users to mitigate that risk, and get the best of both worlds.

[mbesto]

Gold bars are technically "decentralized". No one controls the supply (e.g. there isn't a sovereignty that creates/destroys them), and I can technically just dig them up out of the ground.

[samkon]

You’ve articulated why people call Bitcoin “digital gold”.

[mbesto]

Totally. So what's the advantage of using crypto over a bar of gold then?

[once_inc]

Because while gold bars might be technically decentralized, that doesn't mean they are practically decentralized too. In fact, gold bars are probably 99% centralized in corporate and governmental vaults, neither of which are openly audited. Also; lots of 'paper gold' is sold, suppressing the value of it.

[samkon]

Crypto can be secured and transported much more cheaply and easily - as opposed to gold, where many people would rather own/trade a receipt for gold kept in a secured vault.