So if I create a coin tomorrow and premine 99.999 999 9% of it for myself with 200,000,000 coins total supply, if the 20 coins (Further divisible of course) reached just $AU5,000 each, the market cap would be: $100,000 * 10,000,000 = $1,000,000,000,000 Market Cap, surpassing Bitcoin easily.
Market cap is a truly useless metric in every respect for this space. Not only mentioning the dirty pre-mining tricks, you have many people who have lost their coins over the years, or died, etc, etc. With fork coins, the people with the original coins may never claim their fork coins (Maybe not even be aware that they exist) or lose them.
Expand
