Just a thought - make a standard to rate coins
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I had a random thought, what if over time and through the media an implementation or organization was formed that had particular standards or ratings… when looking through bitcointalk alternative currencies section, it is so cluttered with crap. New coins at every turn, my thought would be something like a market cap held for particular period, merchant utilization, dev support, etc etc… “ftc entering A status rating, and mincoin being downgraded to a C, from us here at crypto rating” all hypothetical, and biased if created by a particular coin, but something that would allow the public to actually differentiate specific facts within the crypto market, i realize miners play a big part but profitability can only be a factor for so long if we want to push mainstream… anyways just a thought… you see so many coins out there and joe public doesnt know the difference… if this has already been discussed, my bad…
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I really like this idea. Let the market sort itself out.
If this is going to work, the organization would have to be as reputable as possible, e.g., no stacking the members with individuals heavily involved in a particular coin. I’m not sure what would be required to start such an org. In my mind, just starting might be the best option and/or the only way to actually begin to gain a foothold and rapport among crypto investors.
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You can have design standards. You can have pool standards. You can have lender standards. You can have stock standards.
Cryptocurrency isn’t produced by an entity. Cryptocurrencies are worldwide notary services. There is no entity which can receive the rating. Only the design (down to the version number) can be rated.
Also LIBOR rating scandal, Bernie Madoff, HSBC money laundering.
We need ZERO trust systems. Systems that do not require these crutches and leashes. That’s why we hash instead of license.
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I was in no way suggesting a centralized governing body, just rather a review system. I have been around in the crypto market for about 6 months now and I have found it is hard to find truly independent assessments. I will find a site that lists a few top coins market caps, another site shows a few charts… maybe I am just misinformed, but one of the reasons I like feathercoin is the user friendly tips and how to’s, not just for me but for new people to the crypto world. My approach was a long term and deep running, to clarify the market out there, allows people to really and truly compare… realistically maybe just a very in depth site that shows all the characteristics side by side, for any and all alts… maybe I am just rambling, but with a marketing background in a previous life :) i like to simplify, make it easier for the market to decide, not just “john s said this was a good one”… anyways ramble over… was just a thought
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We’ve got something in the works for that.
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ok cool… to clarify, or expand… my approach was a way to compare statistically the most important factors that we as a community or the general public can use to establish well guided views, realistically.
Currently I feel that FTC is hitting well on most of these points, soon to be better.
I was just wanting to show what we had and they didnt… meant no disprespect.
trying to explain crypto to a friend, he stumbled upon bitcointalk, and ran away quickly… this is where my thought began. I will leave it with you
thanks
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Nah no big. But it’s again that passive vs active thing. Our advantage is being active.
