Conversation

SBF

@SBF_FTX

·

Oct 4, 2020

1) Unpopular take:

@cz_binance

partially saved

@CoinMarketCap

.

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SBF

@SBF_FTX

2) NOT INVESTMENT ADVICE. NOT DATA ADVICE. NOT MARKETCAP ADVICE.

7:55 PM · Oct 4, 2020·Twitter Web App

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SBF

@SBF_FTX

·

Oct 4, 2020

Replying to

@SBF_FTX

3) Let me start by saying something more popular:

@coingecko

has caught up to CMC. It happened slowly and then all at once. That's extremely impressive. And it's extremely bad news for CMC.

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SBF

@SBF_FTX

·

Oct 4, 2020

4) And it happened, in part, because Binance further hurt CMC's reputation by the perception of bias. A perception of bias did the damage. But there was also actual bias. @OKEx is currently ranked #37: https://coinmarketcap.com/rankings/exchanges/… Tell me that's reasonable, I dare you.

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SBF

@SBF_FTX

·

Oct 4, 2020

5)

@coingecko

is the better product. But that's been true for a while. And if you look at what's happened _recently_ -- Gecko has gotten better. But CMC is a world of difference.

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SBF

@SBF_FTX

·

Oct 4, 2020

6) A year ago, CMC wasn't even close. 80% of the 'top' exchanges were fake. It was a matter of finding the real ones, not removing the fakes. It was a running joke how bad it was.

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SBF

@SBF_FTX

·

Oct 4, 2020

7) And now, it's... not that bad. OKEx is egregious, but the top 10 spot are overall somewhat reasonable. Top 10 derivatives could use a bit more work, but it's like 70% correct, which is still way better than before.

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SBF

@SBF_FTX

·

Oct 4, 2020

8) And, I mean, I don't *know* why. But I have a guess. Pretty much the day Binance bought CMC, it started getting better -- a lot better. It has a lot of catching up to do, but the product has gone from hopelessly fucked to competitive.

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SBF

@SBF_FTX

·

Oct 4, 2020

9) And in the end the perception of bias, combined with the historical sins and the actual bias, might do it in. Plus, CoinGecko keeps getting better: they're hungry. But for CMC, there's hope; their BTC pricing is no longer 1% off, and their exchange lists are useful.

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