Session 4 Transcript

This is an excerpt of our 4th academy session.

Hey everyone and welcome back to Cointelligence Academy.
Today we are moving forward with our fourth session in which we'll continue to talk about the broadercryptocurrency market like we started in our last session which is probably much bigger than you think.
And we'll also talk about how we receive and process information about this market.
So once again my name is Raz.
I'm Head of Research at Cointelligence and I am teaching this course at the academy.
I'd also like to thank our sponsor Puma pay for allowing us to offer this course for everyone who wantsto learn Pumapay is the first comprehensive crypto payment solution for businesses.
They combine the flexibility of payment cards with the advantages of blockchain technology.
We're very excited to be partnering with a company that genuinely wants to increase adoption of cryptocurrencies and help many people pay less fees and have more control over their own money.
So I'm reminding everyone that we are holding Q and A sessions in our WhatsApp and telegram groups whereyou can ask us questions about these sessions or about anything in a crypto space really.
And we will answer them if you want to know when the next Q and A session will be.
Make sure you're signed up for the Academy to receive emails from us and you're also going to have linksfor everything that I talk about in the video's description and we're gonna be talking about a lot ofdifferent Web sites today.
So everything will be down in the description below.
And that's it.
So let's get started.
So before we jump in I just want to recap what we've been talking about so far in the in the course.
So in the beginning we talked about bitcoin and the background to Bitcoin and how it was born and whyit came to exist even because of the financial crisis of 2008.
Right.
So Satoshi Nakamoto in 2008 he introduces the bitcoin white paper and to this day no one knows who Satoshiis right.
Many people claim to be him.
Many people claim to know who he is as of yet no one has concrete evidence who about the real identityof Satoshi Nakamoto.
So we also saw how bitcoin works to transact value between people and we saw what makes bitcoin so unique.
Remember we talked about how the Bitcoin network is a protocol based network and we have the bitcoinasset which is what people transact on the Bitcoin network and people can transact their on on the Bitcoinnetwork without a central party meaning they truly own their own funds.
And because we need to have a network that is secured without a central party the ones who secure thenetwork they're called miners and they operate computers that validate transactions that work all dayall night to solve computational problems and validate transactions.
They include a proof of work right.
The proof that they actually did the computational work they included alongside the transactions thatthey confirm and eventually the blocks that they confirm right.
We talked about how a block is a group of transactions.
They include these proof of works to let everyone know that they actually did the work so other peoplecould verify themselves that the miners did the work.
They don't have to trust the miners at all.
They just have to trust the math.
And as a reward these miners get paid in the bitcoin block reward which right now is twelve and a halfBitcoin right.
So approximately on average around every 10 minutes we have a new bitcoin block.
So around every ten minutes twelve and a half Bitcoin are being created out of thin air somewhere aroundthe world.
So that's a lot of money that's being created.
Well you could say from scratch from nothing.
But actually it's it's a whole industry.
It's it's pretty big.
It's very big.
So we also saw that Bitcoin was engineered to have a known inflation rate which means everyone knowshow many new bitcoins are being produced every day every every second even in every block until theyrun out at.
If you remember the number twenty one million twenty one million is the total amount of bitcoins thatwill ever be created.
If you remember it should happen at around the year 21 40 according to current calculations and accordingto the current state of the Bitcoin network.
So it's pretty far off.
But again you might you might even remember the supply curve would have very very deep and the supplycurve in more than 85 percent of the Bitcoin supply was already minted.
It's already out there circulating changing hands.
Right.
So most of the supply is out there and the rate of issuance is going down.
We talked about how a basic Bitcoin wallet works and what it is made of.
And if you remember the big the two most important things are public key and our private key or publickey is the identifier on the network.
That's how we tell people where to send bitcoin if they want the bitcoin to arrive at us.
If they if we want to receive this bitcoin and the private key is the really important piece of datathat is the key to your bitcoins so to speak right.
Actually literally if you lose it you lose access to your bitcoins.
And even if someone else has it besides you they also have access to your bitcoins.
And it's just a simply a race to who gets to extract these coins to a wallet that only they control.
So if you don't have the keys the coins are not yours.
Or if someone else also have the keys the coins are not yours.
And finally last session we started to talk about how a market started to emerge around Bitcoin andother crypto currencies being introduced that are based on block chain technology but they're doingslightly different things like light coin which was intended to be exactly that lighter version of bitcoinand ethereum which aims to become a world computer.
The can do calculations and deploy smart contracts in a decentralized manner.
Right.
Big words smart contracts world computer.
So we talked about all that and today we are moving forward with talking about the broader market andwe will keep talking about the crypto market but we will zoom out a bit and try to look at a much biggerpicture than we have until now the global crypto market today is very very big in much bigger than somecountries whole economies.
So if you compare it with other countries and I sort of did the math it holds value at around 204 billionU.S. dollars.
Right.
As if the recording of this video which sits right between New Zealand and Greece if you measure themby GDP if you measure countries by GDP which is the most common way to measure countries economies theentire bitcoin sorry the entire cryptocurrency market or crypto market sits right between these twocountries in terms of economy size.
Right.
So that's just to to let you know how it ranks around other other countries and in the height of thebubble it got to around the point of being close to Switzerland right at the height of the 2017 bullmarket which means that the time where a lot of hype was around the market it got to around the pointof Switzerland's economy again simply looking at the numbers.
So since it's so easy to create coins but very hard to create value which is two different things.
There is no consensus as to how many crypto currencies exist but there are multiple thousands in existence.
Some people will tell you you have only a few hundred coins which is almost as is not accurate becausethe coins themselves technically there exist only on the theory and if you remember from from last week'sfrom from the last session more than two hundred thousand tokens on ethereum.
So creating a token creating a coin creating an asset is a very easy task but creating value is completelydifferent.
So in terms of coins in terms of value you could say there are multiple thousands in existence.
And the biggest advocates of the crypto market are pushing for it to mature and become a genuine alternativeto the global financial system which is run by huge centralized figures which many people believe arecorrupt and aim to take money away from most people into the hands of the few.
People are looking certain people.
Not everyone of course but certain people are looking at crypto and they they want it and they theywork for it to become an actual alternative to the global financial system.
Most people don't think most of these people don't think it's ready to take over the global economyjust yet but they do want it to be to be there to present a a compelling alternative to the global financialsystem in use today and the crypto market is extremely different from traditional global markets becauseit was built from the ground up in a very different way and some would say for the worst it's it's differentfor the worst.
And I would argue the opposite.
I believe it is in some ways better in some aspects better than the global financial system the globalmarket and the crypto market has different ways of accessing information about it and sharing it withothers.
Most of the activity in this market is recorded on public distributed ledgers right.
We've talked about how Bitcoin has a private.
Excuse me a public distributed ledger theory is a public ledger like coin.
Most most of these the big crypto currencies have public distributed ledgers.
So most of the activity in this market is recorded on these ledgers rather than a centralized partywhich makes it much easier for people and firms who collect data to be synchronized with each otherabout all this data.
So that's one one point that is a very strong suit of this market.
And since technology moves much faster than regulators generally the market obviously went full powerahead and didn't stop to ask for permission along the way.
No matter where the companies were operating from right.
People started companies that deal with crypto and started projects without even you know formalizingthem as a company all over the globe.
From the U.S. to the East Asia China Japan anywhere in the world Africa tons of crypto companies somany people didn't stop to ask for permission because regulators didn't didn't know about this thing.
Didn't didn't didn't know the technology well and had no no actual guidance to give these people.
So today the legal situation across the entire crypto industry is very complex and you know it's anentire different course to start talking about certain regulations in certain countries and certaineven global organizations that deal with crypto.
But I personally recommend you to get to know your local laws regarding cryptocurrency and and regardinginvesting in cryptocurrency.
If you do plan to do so.
This is my personal recommendation.
Get to know your local regulations.
That's it.
So after this introduction we're going to be talking about the metrics that we use to measure cryptocurrencies and related data.
So we want to get information about the market.
How do we do that.
Well like traditional markets we also have metrics to determine what happens to the market and the valuethat it captures.
And because this market is so new in basically many parts of it can still be considered an experimentmany people still call this market an experiment in many metrics that we use to get information aboutthe market are still not proven.
Much of the stuff that we're doing here even to measure this market is still kind of a shot in the darkstill kind of a a very a trial.
We're trying stuff out and we want to see what catches so many people constantly try to constantly trynew things to portray reality more accurately or get a vendor better understanding of the market.
And finally for the most confusing part of the crypto market you have data sources over the past threeto four years many data sources started to form in the field of data provision and crypto is gettingvery populated with competitors and you can sometimes see very big differences between what one sourcereports to the other and sometimes they report things that couldn't be farther from reality which meansin simple terms in simple languages that they report report data that is fake or that is is not notreal not true.
Since this field is so hard to navigate we will give you the starting tools that you need to know inorder to find out who is telling you the truth and who's bending it a little.
So that's it.
Around about the data provision and we'll start talking about metrics.
And right now we're digging into how you measure crypto currencies and anything that's related to them.
So we'll start by taking talking about the metrics themselves and explain what each of them means.
So we'll start with price and the price of a coin is determined by the last price at which it was traded.
And since many coins are being constantly traded all day all night 24/7 holidays any day any any timethese prices tend to fluctuate just like regular currency markets and even much more so when peoplesay that bitcoin is worth ten thousand dollars it means that the last time people traded bitcoins boththe buyer and the seller agreed to exchange one bitcoin for ten thousand dollars or it doesn't matterwhat amount of bitcoin but if they if they exchanged zero point one bitcoin they exchange it for a thousanddollars but the price that they agreed on is ten thousand dollars per bitcoin.
So this this price is generally measured in U.S. dollars.
Right.
So in many parts of the world people measure it by their local currencies.
In Japan it's measured in Japanese yen and the European Union.
It's measured in euros.
So generally in the general market most of the time it's measured in U.S. dollars unless you know someexchanges measure it in a different way and the price change of a coin doesn't matter which coin ismeasured in percentages just like traditional assets like stocks.
Right.
If you've sometimes heard Apple stock and video stock Google stock went up two point three percent todayor went down two point three percent today.
Doesn't matter the price change is measured in percentages and it can be calculated over a period oftime frames and most generally most of the time this price changes calculated for the past 24 hours.
When you see a plus three percent in bitcoin price just whatever and no one is telling you what timeframeit is.
Assume it's 24 hours in the past 24 hours and that means if a coin was worth one hundred and one dollars.
Right.
Let me give you an example here.
If a coin was worth one hundred and one dollars and I see that the price change was plus 1 percent inthe past 24 hours I know that it traded for one hundred dollars 24 hours ago.
Now this is not a real coin.
I made this.
We don't have a coin and we probably never will.
But this just goes to show you you can know what the price was if you know the price change and thetimeframe.
So the last thing here is volatility and volatility is not measured in numbers.
But I did want to include it.
We tend to call a coin volatile if its price changes very much in a short period of time.
Right.
So it's a function that depends on both the both the price change and in time.
Right.
The bigger the price change in the smallest amount of time we call this coin very volatile and it doesn'tmatter to which direction it goes right.
It doesn't matter matter if it changes in 20 30 percent in one day or upwards or downwards.
It just matters how much it changes absolute to the to the value of the coin.
And generally speaking all crypto currencies are considered very volatile as opposed to traditionalmarkets including Bitcoin of course in traditional markets stocks are considered more volatile assetslike bonds for example are considered less volatile and even within stocks there are sectors which alsoconsidered more or less volatile.
For example tech stocks like I said and video Apple Amazon such as stocks they're considered among themost volatile stocks but cryptocurrency is even more volatile than that.
And again volatility means that there is a lot of potential gain over a short period of time but alsoa lot of potential loss.
So it can go either way.
No one really knows where where it'll go.
And if someone tells you they know where the market will go they're probably lying and volatility meansthere is a lot of potential gain.
But there is also a lot of potential loss very high potential upside in a very high risk as well.
Moving on to other metrics we have supply and supply is probably a bit more complicated than you think.
So where to start with circulating supply and coins circulating supply is the amount of coins whichare considered circulating in the market which means that they are not locked by the company or theentity that controls the coin or even the protocol it also means that this metric doesn't count allthe coins that don't exist yet.
Right.
For example it will only count all of the bitcoins that were already mined but it won't count thosewho are not yet mined.
For example Bitcoin circulating supply today is almost 18 million at the time that we record this right.
So circulating supply is the amount of coins out there in the market.
It's not representative of the eventual amount of coins that will be in the future according again tothe protocol.
And what we believe will happen in the future in maximum supply is there to to adjust for this fruitfor this knowledge right.
We know that there will be one twenty one million Bitcoin.
So how do we represent this using maximum supply so maximum supply is the total amount of coins thatcan exist whether they already exist or will ever exist for example for bitcoin this is 21 million butsome of these coins don't exist yet for some other coins like X are for example.
This is the logo of X or P right here.
There are coins there exist coins that were minted by the company or for any coin.
But by the controlling entity.
But these coins are locked in the companies control which means that they exist but they are not incirculation and the maximum supply metric includes these coins but the circulating supply doesn't.
So when you say there are 100 billion SRP in existence you call that the maximum supply.
The total supply.
Right.
Mostly maximum supply.
Sometimes you'll see total supply but mostly maximum.
But when you see circulating supply you'll just see what is going around in the market.
And when going around in the market I'm not I don't mean being exchanged all day right.
This is a different thing entirely.
It's just what's out there what people are holding what people are using what people have in their possession.
So moving from there we finally get to talk about market cap or market capitalization and this is probablyarguably the most important metric that you need to learn today.
And it aims to capture the value of all units of a coin that exist and on repeat the sentence becauseit's super important market cap.
The metric market cap aims to capture the value of all units of a coin that exist in other words capturethe value that the entire coin holds.
This is achieved by multiplying the number of coins in existence by the price of one coin.
And it's mostly measured in U.S. dollars.
That's just the custom what people use to measure for coins other than bitcoin.
It is sometimes measured in bitcoin but mostly U.S. dollars so just look look at this simple equation.
So we have the market cap.
The metric that we're looking for is equal the price of one coin times the circulating supply.
So we have in theory of course one bitcoin is worth one dollar.
We're way past these days but if one bitcoin is worth one dollar and we have a million bitcoin so theentire market cap of bitcoin is one million dollars right.
You multiply the supply the circulating supply by the price and before trading volume I just want topoint out this is why you sometimes hear people say that bitcoin is worth almost 200 billion dollars.
It's not that one bitcoin is worth this amount right.
We know that they are talking about the value of all coins that exist on the network and again existon the network not will exist right.
This metric the with the market cap metric it's not perfect because there are many calculations thatit doesn't do like take into account coins that are permanently lost right.
People lose their private keys all the time.
People lose their bitcoins all the time.
You probably heard about a story of someone mining a ton of bitcoin back in 2011 2012 and doing nothingwith it throwing out their computer losing thousands of bitcoins.
These stories exist so this metric doesn't take into account coins that were lost like that but stillright now it's the most accurate approach that we have.
And that's what the industry uses to measure the value that a coin manages to capture.
And after we know market cap we start to go into trading volume which is the amount of coins that arechanging hands or traded across the entire market.
And by that I mean across the entire world.
Right.
Because this market doesn't have a geographical boundary.
The crypto market is basically global worldwide.
And that means that this metric attempts to give us information about the amount of value that changehands in this coin in particular or in the market in total.
So if we're talking about bitcoin trading volume we're going to have the metric that lets you know howmany bitcoin or what is the value of all of the bitcoins that traded hands during the last time framemostly.
Again 24 hours or if you're talking about a different coin such as light coin.
So like coin trading volume will tell you how much value was being exchanged in light coin in the pasttimeframe mostly 24 hours or if you're talking about the entire crypto market cap and the entire markettrading volume.
This will tell you how much value traded hands across the entire market doesn't matter in which coin.
And again mostly it's measured in U.S. dollars.
So again note Note This is not measured in the coins units which means when reporting about like coinstrading volume we don't see a thousand light coins were traded.
We give it a value mostly in dollars.
The other problem that we have in this metric is the fact that you have to rely on many different marketparticipants or exchanges who report these numbers.
There is not one single truth to this metric to the trading volume metric.
And this is probably the most problematic metric to get really accurate data on because we have to trustcertain market participants to give us the right information and data that is correct.
Many times these exchanges give out false information.
In other words they are lying right there giving us information which is not true which means that weget bad info and we can't rely on it.
We will explain what incentives they have to report false information why would they even do that.
When we talk about exchanges but what you need to know is that a very small number of exchanges canactually be trusted at the information they give out is true.
And today we will give you the tools to see where you get data that we consider as accurate as possible.
And lastly in the market metrics in the key market metrics we have the bitcoin dominance and a dominanceof bitcoin is measured in percentages and it shows us how much of the total crypto market is dominatedonly by Bitcoin.
For example if the entire market is worth 100 billion dollars in bitcoins market cap is 70 billion dollarsthen the bitcoin dominance is 70 percent right.
This metric tells us how much of the total market amounts of the value of the total market amounts justto bitcoin.
You can you can apply this dominance metric to any coin right.
Last time I checked I guess I think in theory am had like a 9 percent dominance across the entire market.
Bitcoin has 70 percent around but it's measured.
Basically it means how much of the total market is just bitcoin.
We've discussed these metrics but it's out there in the air and we have to put it to use right.
We have to see how this this stuff even looks like give you some real numbers and we want to play aroundwith a few charts right now.
Right.
We want to we want to open up some websites see how these things look.
And like I said all of these links are going to go in a description right.
So so we're gonna have all of these links in the description so you can play around with these chartsby ourselves but we're gonna be stuck we're going to start by looking at them together.
So you know how they look.
So starting off with the trading view crypto charts now trading view is not a Web site that is focusedjust on crypto the opposite.
It's its own Web site that is focused on global markets in general and they have charts that are verypopular with traders but they do have a crypto specific page where they give you charts that are easyto understand and work with.
So for example the total crypto market cap and volume.
Right.
It's it's a pretty pretty pretty big chart.
Only by itself.
But we'll start just with the top portion the top section that shows you the market cap right this blueline is blue line shows you the market capitalization in dollars.
Right.
And and when you hover over it you see in the top left corner right here the number in billions.
Right after after the number you have a B.
And that means billions.
So this amount of billions of dollars is the amount of value that the total crypto market manages tocapture at each point in time.
So currently in down there you have the the date.
Right.
So right now it's June 3rd and 4th June 5th and for licking Yeah.
This is not app to update it until today.
Today is much much later than the end of July but
it goes back way way further than that.
Right.
If you we if you scroll backwards.
Right.
I'm going over these months and I'm scrolling backwards I can see the chart goes back and right.
October 18.
And we can see how much it was.
So let's go to today and today that we see
right.
October 2017.
It's it's it's it's around two hundred and eleven billion dollars.
Right.
It doesn't matter where you move your mouse on the vertical axis because the.
This this number will always tell you what the market cap was at this point in time right now and youcan see it's changing without me even doing anything because the market is changing all the time butwe'll see that exemplified in a better way.
But around two hundred and eleven billion dollars.
So that's the market cap down here we have the market volume.
How much trading volume is going on across the entire market again.
Also in U.S. dollars so fifty five billion fifty six billion almost around this amount of volume.
This is an outlier of 80 almost 87 billion dollars in one day.
Right.
If you want to go in-depth in these charts just quick the full featured chart and you'll be taken toa full featured chart.
And let's move on to the second graph that we have which is the total market cap and volume withoutBitcoin.
And you can see it's all against the updated but
sixty six billion sixty six and a half out of two hundred and eleven billion.
You can do the math.
Also although there are easier ways to see that but this is the total market cap without bitcoin.
Why is it important.
Well sometimes people want to measure bitcoins performance against other coins performance or even Bitcoin'sperformance against everything that is not bitcoin.
People can gain insights from it and arrive at conclusions.
So we're moving on to the market dominance market cap dominance.
Like we said in bitcoin.
Right.
So we said that bitcoin has around.
As of right now as as we're speaking around 70 percent dominant.
So be a bit less and the blue line represents Bitcoin and the orange line represents ethereum and youcan remove some of these right to see just the ones that interests you.
For example.
But Bitcoin almost 70 percent right.
The other is you can see here as you scroll through time but you get a color code you got to match thecodes to to whatever is up here.
You can scroll to enable or disable some of these right whatever you want and it's just to see how muchin percentages of the total crypto market is controlled by each of these currencies.
And that's it for the Trading View charts.
And let's see the coin lib global charts right.
A coin flip as another Data Web site.
And the total market cap is exactly like we add in and trading view it's it looks a bit different thegraph is both a bit different and you can zoom in on different time frames.
So I want the last six months or I want the last year or even want just the last week in which it didn'tmove that much right.
Just went down a little bit.
But let's look at the last six months for example.
So I have the total market cap let's say.
I just want to look at Bitcoin as opposed to the total market cap.
But let's say I also want to look at ethereum alongside bitcoin.
Right.
So we look at this point in time on ethereum and ethereum's market cap is almost 19 billion dollars.
You go on bitcoin and it's almost 145 144 billion dollars and a total market cap is to 14.
Right.
So you can enable or disable you might not ever notice this but uh let's let's remove this and bitcoinand compare to smaller coins for example you see the chart is is dynamic and it changes as a as a functionof what you choose to see.
So we didn't talk about these coins for now but let's talk about two.
You could say competing coins which are Bitcoin Cash and Bitcoin S.V..
So there are insights that you can see from from these charts.
Let's go back one year for example.
This is when Bitcoin as was created.
That's why this is a relatively huge jump from zero to two billion dollars.
So there are there are insights that you can gain from these charts.
Now I'm not expecting you to become an expert after this very very short session but uh just play aroundwith these charts.
Get to know them get to know the metrics get to see how they change as a uh through time.
And again we have the bitcoin dominance here and the total market volume.
These are way too as you can probably see these are way too complicated to get into now.
And moving back and going to the coin 360 heat map right.
This is a very popular site that it gives you a very visual representation and an easy to see representationof the market and how it's doing.
How how big currency is how big cryptos in the market how they're doing performance wise.
So we have the crypto currency ticker the ticker just means the three letters that signify the assetlike we said Bitcoin is BTC.
Some people call it XBT but generally BTC you have ethereum which is which ether the native currenciesis its ticker is ETH. XRP is XRP sometimes called ripple EOS however you want to call it BitcoinCash here.
Bitcoin S.V. Binance coin.
Right.
And also when you hover over it you get the network name in this little pop up window alongside witha small graph showing you the recent performance of this asset.
So let's look at Bitcoin for example.
So we have bitcoin and we have its price in dollars and we have its price change over the last 24 hours.
Right.
So the dominance here is as you can see the bitcoin dominance but it also it only says that about Bitcoin.
And when you hover over it you see the market cap in dollars right 144 billion.
You see the volume and you see the algorithm that its uses to to mine or to achieve consensus if yougo on theory and for example you see that the algorithm is it cash or Attash everyone pronounces thatdifferently and the market cap of ethereum and the recent price price movements of ethereum go onXRP for example and you'll see that the graph is as green because green means up in Western society.
So this this site is as useful because it gives you a easy to understand visual representation of what'sgoing on in the entire market.
So you look at this and you see mostly red recalling this like a red day right where where many of thecurrencies many of much of the market is in a downward trend or moving downwards.
Most currencies are losing value.
There are some days where this entire page is simply a red a red thing and you can see minus five minussix minus 10 percent in a day which is pretty terrifying for people who have invested in bitcoin andyou have days where this is all green and everything just moving upwards.
And one of these is plus 20 percent right.
This is how volatile crypto is so this this is a very good site to to familiarize yourself with theentire market because it's easy to see and easy to go get to insights from such a thing.
So we're not going to go into the coin 360 charts but basically it's the same thing as the heat mapjust with charts like we've seen.
Total Market Cap specific coins market cap stuff like that generally information about the market sowe are moving on to talk about aggregators.
And this is probably the tool that you will use the most to get data and to extract valuable data aroundabout the current.
Excuse me.
The cryptocurrency market and specific assets and cryptocurrency so market data aggregators are webwebsites and companies who collect and present data about the crypto market.
They show information about the market and specific coins.
And the most important metrics they focus on are the ones we just talked about simply just adjustedto the coins that we're talking about at at the at the same point in the in the market aggregator site.
So these Web sites are free to use.
Most of them have customizable dashboards that you can use to change which currencies you see and youcan apply certain filters or remove certain filters.
Basically these sites these sites are very very customizable and easy to use and and flexible.
Also they don't make money if you just go on their sites and use their free services obviously but someof them allow advertisers on their sites.
And so you sometimes see like banners or or certain buttons which have a small a small sponsor the tablabel on them.
So just be aware that that's some of the way they make money by advertising on their site but many ofthem also offer a paid API API for those of you don't know stands for application development interface.
It's a tool.
Software developers use to to to develop applications and sometimes data scientists use that tool toget data on the market and basically for developers it's easier to use API than to manually go on sitesand look for what they need because they have they have to make their applications work automaticallyand autonomously and continuously.
That's the magic of Internet applications and most paid API is they offer more functionality over whatis accessible manually on the free site.
It's a given right.
You're going to pay for something that is extra so you get something extra which you can't get on thefree site.
If you're a software developer and you're interested in a crypto API look it up look some of the APIis up that that the market has to offer.
See what works for you so many of the aggregators also let you click on certain crypto currencies andgo to their respective pages where you can see more information about the coin.
You can see if it's minor will or not.
For example on which platform it is based like it's if if it's an A if it's a token on ethereum you'llsee it's a token on ethereum.
It says that in the aggregator if it's a coin by itself it's a native asset like bitcoin or like etheryou'll see that on the on the asset page you can see the assets price history and there are links towebsites social media other places to learn more about the currency sometimes project updates directlyfrom the project team from the asset from the team that governs the asset or whatever.
You know every every coin has its own model so on and so forth.
And since the data provision space is very fresh and also hard if not impossible to regulate.
There exists even even here in this market there exists sites who give better information than others.
We've talked about this briefly and some even allow bad information to go through them knowingly withoutdoing much about it.
Right.
We will try to show you which sites we think are the best representation of the market or even the mostpopular.
So you can see for yourself what to choose who to trust.
And it's going to have to be your choice you're going to have to see eventually can gain trust or distrustin these Web sites.
And there are a lot.
So let's start to talk about these aggregators and we're starting with Messari's screener which usedto be called on chain effects and the messari screener is a very customizable interface an extremelycustomizable tons of filters tons of categories and everything.
We'll see that in a minute which you can manipulate and use to find the information exactly the informationthat you want to see regardless regarding certain assets or asset groups.
Some of the misery some of the screener filters that you can use are unique to the screener.
You won't find them in other places.
They're working very hard to distinguish themselves from other from other aggregators like filteringassets according to their category.
For example Bitcoin is in the currency category ethereum in the platform category.
And there are tons of other critical categories.
So Messari itself the firm up operating smoothly operating this site is a data firm which also focuseson transparency and they integrated that into their screener.
So they have partnerships with project teams where project teams can push updates directly in the Moussaouiscreeners.
So you see if you click on a certain asset you'll see its updates right on there.
So it's it's pretty convenient.
And also in the asset page you can click on and many links that they have there to go to see more informationlike the total coins mined or the coins minted or like we saw on the heat map.
Right.
This this red or green blocks not bitcoin blocks just just regular squares.
You see its algorithm for example the mining algorithm if it's mine all or not the amount of maximumsupply we talked about circulating supply charts price charts price history all that.
So let's actually see the screener in action.
Right.
So this is the screener and I'll be turning my video off for a second just to get a better look.
So it might not look exactly the same in your website because I've modified it a little bit you knowwith columns and everything but let's look at the top here.
And if you don't have that choice just go
just click columns and filters
just a second I'll return the defaults so we know how it looks like for everyone.
So we have bitcoin dominance reported at 70 percent.
We have bitcoin dominance reported at 70 percent which is a bit different from what we saw.
But again every every firm has a different way of collecting and displaying data and we have the reportedmarket cap which is essentially the market cap of the entire market.
Bear in mind not all aggregators contain all assets right.
I won't get into what tether is.
For example just in one word it's a stable coin.
If you want to look it up and learn more about it yourself.
But some aggregators don't include tether and tether has a reported market cap of more than 4 billiondollars.
Some market caps don't.
Some some aggregators don't include that in their calculation.
That's why you see different numbers going to different aggregators and you have the reported marketcap which sits at 2 of 6 billion right now.
But you have the why 2015 market cap sitting sitting at multiple billions above that in what 2050 meansyear 2050 right 30 years from now 31 years from now.
And that takes into account inflation rates of of of currencies.
It will take into account all of the bitcoin that is suppose to be minted until the year 250 a y theyear 250 was chosen.
You can go on the Messari website and see their explanations for that and you have reported volumeright.
What the entire industry reports was the trading volume in this past time and you have the real volumein wait.
How do you know that's the real volume.
This is essentially you calling this a fake volume right or volume that is inaccurate.
So again Messari has their own methodology to collect volume.
Basically this is based on data from ten exchanges that are considered to be very accurate and to providevery very valuable and and accurate data provision.
And again these are all market standards.
They're not absolute truths.
Right.
So this is what you see in the Messari screener.
So you have the asset list as far as organized view report and market cap.
Right.
This is this is the the way we're uh we're organizing these right.
We're we're sorting sorting this list so we're sorting it via a market cap not via price.
Right.
Market cap is how much value the coin captures and not its price the price don't.
Doesn't matter to us.
Let's try to sort by price.
And our first one is bitcoin because bitcoin is pretty expensive but the second one in this list afteryou is sorted by price is ask a smart Bitcoin I don't know if most people know what that is.
Right.
So but when you look at the number this hash showed us the number but which number.
Well basically the number if you have sorted by market cap and look at the market cap of artist caseMark Bitcoin it's four hundred and forty thousand dollars.
Basically nothing in crypto crypto terms.
So it's five hundred and three in total market cap sorting and the following that is as is a projectcalled maker.
You may have remember we talked about maker and maker Dow previously and the prices is looks a bit highfor a crypto coin right.
Four hundred and eighty dollars but its market cap started price its position is twenty three.
Right.
But it doesn't matter right.
Let's look at the reported market cap right now which is the the most common way to sort assets andlook at maker for example right.
Number twenty three this is how much 1 maker 1 M.K. R is worth.
This is the price change in the past 24 hours.
And let's click at Maker and we're being taken to the maker page and we have the badge here that saysthat maker is transparency verified right.
We have the Moussavi logo with a with a cute v on it and it means that the maker team is working directlywith the messari team to display updates here and here.
Right.
Display updates about the projects.
We have analysis here being posted.
This is a ton of data.
You can get from this page so price history of EV maker and U.S. dollars of course tons of data.
This is the overview.
You can go on the profile where misery collaborates with the maker down to see to get information heredirectly from maker themselves.
A ton of data.
I know it's confusing.
But go on it step by step.
Start to look through it see what information you're getting read the descriptions the background sothat is the messari screener
moving to the next one.
We have coin market cap coin market cap is a very important aggregator.
And why.
Because it's the most used aggregator in the crypto space.
It's the de facto most used aggregator and a lot of people use it to get information about cryptocurrencyprices and price changes and information about exchanges as well.
Sometimes people simply call it CMC right short for a coin market cap.
It's a very simple Web site.
That's what it has going for it.
It's very easy to understand and it's not as flashy and confusing as some other sites and some othersites are trying to beat up the fact that it's very simple draws many people towards it.
And this is a point where you should listen closely.
So many people and industry professionals claim that coin market cap is not reporting information correctlyso coin market cap is very big right.
It's considered the most popular market aggregator and they claim these people claim not coin marketcap.
These people who go out against coin market cap they claim that they simply receive the informationfrom the exchanges coin market cap simply receives the information from exchanges that it pulls datafrom and they don't verify it.
So when a dishonest exchange for example reports false information like having billions of dollars worthof cryptocurrency traded on it in a short timespan coin market cap receives this informationand simply displays it without going through any filter and that is why many people accuse them of beingpart of the problem of false data reporting.
Again this is this is accusations that are being made against coin market cap.
And like many other aggregators coin market cap offers asset pages like we saw at the messari screenerwhich are simple very simple simple understand and they provide a some information about cryptocurrencyin a detailed chart of its price history alongside its market cap history which are different.
Right.
And on which exchanges it is traded.
Which markets it is being traded in.
So this asset page make CMC a good aggregator to look for historical data on various assets.
If you need to know for example how much like coin was worth in 2015 just the general example.
And again aside from being accused of simply relaying information from exchanges who report false data.
Coin market cap is also frequently being accused of being non-transparent which means that they do notprovide a well enough explanation to the data that they display on their site or that they offer aspart of the API that people are using according again to some of the industry voices.
And finally coin market cap has also been accused of allowing illegitimate businesses to advertise ontheir platform.
Again all I'm saying is what the industry has voiced about coin market cap which is something that thecrypto community wrongly looks down on.
Right.
If you advertise businesses that you deem a legitimate piece some people would call it a conflict ofinterest or generally a bad business practice.
And all this information we tell you again I'm stressing this to to to make sure you know I'm not attackingcoin market cap.
I'm just simply I'm here to give you the full picture the big picture to let you know as many opinionsas possible.
The reason we are giving you this again is to let you know and make these decisions yourself and seeif you agree with which side you agree.
And like I said in the beginning you're going gonna be trying out these aggregators and see what worksfor you.
Let's look at coin market cap very briefly.
I don't want to prolong this session the long longer than it needs to be.
So this is the site easy to understand.
Top one hundred crypto currencies by market cap.
Very simple.
They made a very simple website.
I'll leave my video on now.
So this is Bitcoin.
This is the market cap.
This is the price.
If you uh you can see the price graph for the past seven days and this is the change in 24 hours.
And if you click on bitcoin this is the acid page rate for Bitcoin.
That's how it ranks.
Market cap wise this is a Web site for bitcoin.
It goes to Bitcoin dot already.
It's not the official website because as we've said Bitcoin is a decentralized network.
It doesn't have an official Web site right.
You can go on a block explorer right.
Like we saw where you can see the actual blocks and there are multiple options here.
This is how much it's worth in U.S. dollars.
This is how much volume was being traded in the past 24 hours.
This is the circulating supply of Bitcoin.
We're nearing 18 million in the maximum supply.
Like we've said we have a history of price with this price chart goes back all the way to April 2013April 20th 28 2013 and about and some
more or less interesting metrics here.
So not a lot more to say about this it's just a very simple website and in a in a good way.
Right.
It's easy to understand it gives you information in a good way.
And you have tabs here notice you have tabs here and the two most important tabs in my opinion are chartsright.
The price in markets and this is where bitcoin is being traded.
So you have exchanges like bkb X most of these are uh.
I'm not going to comment on if they're reliable or not.
I can't say right now but uh finance for example is a very big Bitcoin exchange and you have almost2 percent of the total volume that crypto market.
That coin market cap aggregates going on there.
So we're looking at here.
You want to look at this market tab.
You want to see you want to look at this.
This uh column right.
Volume and this is generally how this list is being sorted right.
If I click on that it's the same list.
It's sorted by Where is the most Bitcoin volume.
Again according to coin market cap.
And if you believe this reporting.
Right.
So moving back and we're going to talk about coin gecko and crypto compare to finish.
So coin Gecko is also an aggregator that houses a very large amount of data and information.
And it's up to us users to make good use of it.
And the two biggest offerings they have is their asset list.
Like we saw with Messari and coin market cap rate a list of assets and their prices and their exchangelists in which they rank exchanges based on several different factors.
So called Gecko is a site that's a bit more than an aggregator right.
They have a news section and a few other sections like a section called beam in which they've partneredwith project teams to bring updates directly to coin get those users like we saw with misery and thefeatures don't stop there.
They have a lot more to offer and to get to know everything that they do.
You got to go on there.
You've got to look through their site see see what features they have and how to use them.
So let's look at it again for a few minutes.
I don't want to drag this session out too long but coin gecko I've put on the night theme because Ilove night.
Uh dark themes asset list right price change and you see here the price change in the past uh threetime frames which is one hour 24 hours and seven days and for bitcoin it's gone up in the past hourbut down in the past day in very down in the past week.
So you have this asset list right.
And up here you got this.
How many coins coin gecko indexes.
Which is almost 6000 coins.
It's a lot.
Uh and how many exchanges.
Coin gecko pulls data from right.
All of these coins basically very similar lists in any aggregator.
And on the asset page you have the coin itself information wallets that support the coin descriptionhow do you feel about bitcoin today.
I feel great about bitcoin today.
So a price history thank you for your response.
Price History and the markets like we saw in crypto more in coin market cap right.
So that's the acid page and that's coin Gekko
and for crypto compare which is another market aggregator.
There are a data analysis firm which also collects an incredibly large amount of data about the entirecrypto market and provides it to users through various features.
They also have both an asset list and an exchange list going Gekko also had an exchange list which isdidn't display it live.
Each asset or exchange has a page of its own on crypto compare that goes into great detail about eachone and its technical features and properties right.
They also have a top list feature which for each category or subject ranks the best solutions in themarket today.
For example there is a mining list that details the top mining equipment manufacturers or a wallet listthat ranks the best wallets according to user reviews and the biggest product of crypto compare is theirAPI which they offer to keep up with other crypto businesses individuals software developers data analystset cetera.
We talked about API.
And let's take a quick look at crypto compare itself.
So this is the site.
This is the asset list right the coins asset list up top.
We get uh just a very brief view of a few big coins.
And if you go on the asset page itself again and what you see here is the price the market cap.
I don't want to go into the methodology of how they collect each one of these metrics because it's it'svery very long and intricate.
Let's go into the asset page so don't be uh.
Don't fear don't.
Don't be afraid of this signal.
It just means that tether which is a representation of dollars it's a stable coin.
Like we talked about.
You can press this little button and choose USD.
It's basically just so it shows you the same thing.
So this is the price of bitcoin and it's moving very very fast right.
You see it's updated just now.
And the last time it was updated.
That's why.
Remember what prices the definition of price.
It's the price at which the last Bitcoin changed hands or the last fraction of a bitcoin changed handsand you have the market cap of bitcoin here you have the 24 hour volume both in bitcoins.
How many bitcoins which were exchanged and how much is that in dollars worth if you multiply that bythe price and you have the price chart.
Like anywhere else.
And many many information much information about the coin which is more than what you get.
In other places sometimes more doesn't always equal better.
But it's a lot more.
You got to you get to see what uh what features you look for in a market aggregator and a descriptionright.
So features technology information about each coin.
So again all of that has been simply the tip of the iceberg.
It's been so very little.
A very very short uh presentation of websites that have a lot more to offer a lot more to offer thanI just showed you.
And I'm really doing a disservice to all of these Web sites because uh they have a lot more to offer.
And you got to go on them right.
And that's that's where that's what I'm.
I'll say right now you got to go on them yourself.
So we've reached a point where I no longer hold your hand through this market and let you go off onyour own and explore.
You have to get to know these.
You have to use them yourself.
This very very short intro that I've made between you in the Web sites is basically a hello.
Right.
Here's you here's the website.
Now get to know each other.
So they are these sites.
They're these aggregators.
They're incredibly useful tools in this market.
And everyone who wants to get a better understanding of the market should try and see what they haveto gain from these sites.
All right.
And they're free.
So why wouldn't you.
Basically everyone who deals with the crypto market use some or some or one or any combination of aggregatorsand not just those that I have portrayed here there are other great aggregators in the space we justdidn't have time to sheet to show them as well.
Right.
So start looking at various metrics see how they appear to you.
Start making comparisons between assets between their price histories.
Ask yourself what made this coin rise.
What made this coin decline and try and verify it and actually see and actually strive to see the biggerpicture not just something that somebody wants you to see.
Right.
Because it's very easy to fall into this cozy place that someone built for you but you have to go outexplore see what the market has to offer my before the question my advice to you is if you're lookingfor a site to trust is to get to this decision by yourself.
I don't I don't think it this decision should come externally.
Right.
You shouldn't ask someone hey what site should I trust and get an answer and just go with it becauseit's kind of a contradictory practice right.
Just asking who to trust and then trusting someone to tell you who to trust.
So try out a few sites see what is more useful to you see what you believe is giving you not only informationthat you want but also information that is as accurate as possible.
And finally just for you to think a little bit more I'll ask you a question.
It's for you to answer I'm not going to answer it today.
If you look through these aggregator sites some assets have currently more circulating supply than theirmaximum supply.
And that seems like a bug or a contradicting piece of data and sometimes it looks like the maximum supplyis like one hundred and twenty percent of the circulating supply or sorry it's not they look like thecircuiting supply is one hundred and twenty percent of the maximum supply or something like that.
So why is that.
Why is it like that.
Why is there currently more supply circulating than the maximum that there will be.
So I'll give you a hint it's not a mistake.
Right.
And it's intentionally done by the people who created the coin.
In they intentionally made it so so that the maximum supply will be lower than the current circulatingsupply and that is a small hint.
Look back at Bitcoin's inflation deflation mechanisms.
And if you want to know the answer.
Join our WhatsApp telegram groups and we'll be hosting Q and A's right after sessions and ask that inour next Q and A and see what we tell you.
So let's do a very quick recap so market aggregators are the best tools we have right now to surveythe market to look at its state and to obtain information and metrics about both the entire market andspecifically about certain assets.
The most used site the most popular site in the SEP space is coin market cap but it's not necessarilythe best site.
All right the best site is what you believe is the best site for you and coin market cap can also bea very confident controversial site.
Many people accuse it of of being not as transparent or not provisioning data as well as it should.
Given its popularity and aside from coin market cap there are many other aggregators with differentfeature sets.
And we've only covered a handful today and even them I didn't do justice right.
There's a ton more to say about each one but you got to go out there and explore yourself see what worksfor you.
And like I said everyone's who's in this space has to get their data from somewhere and there's notone right aggregator for everyone in order to find the best one for you.
You have to start using them to see which one you feel gives you the most value.
I personally I have gone through a few during the time that I've been in this space and every once ina while I'm trying out a new one I'm switching over to a new one and because I always want to see whatbetter suits my needs and so I want you to start using to start using them and see how you feel abouteach one.
If you have any questions or you want to continue the discussion right.
Going out and felt are what's up.
Going Our telegram ask us questions we'd love to answer them.
So thank you so much for listening and you have a ton of homework to do.
Right.
You got to go out there and explore.
See what aggregators you find give you the best value.
And we'd love to see you at our next session.
If you have not signed up to receive e-mails from us already please do so link and click the link inthis video description and that's it.
I'll see you in our next sessions.
Have a great day.

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