How MarketCap is manipulating your view on Crypto.
Almost any time I hear someone speak about crypto, the word marketcap(MC) comes up. Whether to validate a coin as an established player or something that is a "low cap gem" to be caught before it starts to pump in price or even to say that a coin is a scam because its MC cannot be determined unanimously by all "coin ranking" sites.
The below information was sourced from We Are All Satoshi on youtube; I will link the video at the bottom.
First off, let's establish what creates the MC for anything. It is very simple, circulating supply of a given asset or number of units available, multiplied by the last transaction price. Easy enough. Bitcoins current circulating supply is 18,974,687 BTC, we then multiply that by its price of $39,096.54 at the time of writing and we get $741,844,609,282.98 MC. This will fluctuate every time the price moves, but do the math for yourself just to be sure.
Now its time to take the red pill and see through the bologna.
Let's define what MC for crypto is: the attempt to assign value to an entire ecosystem of a token or coin. The problem with this attempt is, its false, but before we go any furth