G'day frothers,
I have been live streaming crypto conversations for about 6 months now. A concerning trend has taken over in recent times with many new viewers asking the question "What is the best coin to buy under $1". The simple answer is, coin price doesn't matter.
To help further educate the masses I used a "click-bait" title most likely to reach those searching for coins that represent value because of the per coin price. A phenomenon known as "unit bias".
In the video, I make reference to one of the leading sources of information in the cryptoeconomy (coinmarketcap.com) compounding the problem by enabling the "price per coin" search parameter as one of only 3 filters available.
Being this was a YouTube production I asked people to share and like the video.... but that's not how we do things here at Steemit.com .
Please advocate increased awareness of irrelevancy of "per coin price" and the importance of coinmarketcap.com consider the implications of making available a "coin price" search parameter to the potentially uneducated crypto newbies, by upvoting and resteeming this article
Stay stoked frothers,
Fish
You are so right!
Unit bias can be remedied by including a further indicator called bitcoin price equivalence.
Basically this is the price of each coin by taking into account the coin's supply and the current market cap:
http://bpeindex.com/
Hope you find this useful!
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Always appreciate extra information. Much appreciated legend. Followed.
Fish
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followed you back! :)
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Now really one wonders how vulnerable hte market can be because of misinformation...as there are limited number of sources for the whole market to get info...nice interpretation...good post
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