The crypto world’s most used cryptocurrency index, CoinMarketCap, has recently been under the line of fire lately for its protocols. Now, CoinMarketCap addresses issues, at least some of them.
It all started with Reddit…
We’re happy to announce our new subreddit! Please join the discussion at https://t.co/FQowKFktV5[1].
— CoinMarketCap (@CoinMarketCap) July 9, 2018[2]
CoinMarketCap Adopts Reddit
The index just recently opened up its own subreddit of CoinMarketCap, most likely to address issues and discuss the potential fixes of the problems it has been facing.
However, starting a subreddit opens your company up to a whole new slew of potential bad press, as the site aggregates the comments all on one page where Reddit users can ‘upvote’ a problem.
hope you guys are ready for a whole new level of stupidity. crypto reddit is a monolith of monosyllabic mouth breathers muttering wen moon.
— ian thomas (@devil_in_tweed) July 9, 2018[3]
Don’t say they didn’t warn you, CMC…
Four days ago, a user by the name of u/z0diac_me wrote a comment to the index addressing “fake volume” exchanges and zero fees.
The original subreddit post read[4]:
“I think [CoinMarketCap] choose[s] the unhealthy model of exchanges doing their business for good and others—innovative one as for something bad […] I see a simple solution btw—let them fight that fake volumes against fake volumes, it creates the competition/drama, instead of improving that part of CMC—make something more valuable for your average users something like risk score system/indicators […] I can’t seem to find any logical reasons for CMC closing doors to something better than they really have now—money? They pay you for it?”
