Probably the best strategy tbh, you only have to go to a few spots down to find some bad coins and the edge of the top 10 to find some outright scams

Bitcoin cash comes in at #7 on coinmarket cap and while I wouldn't call it a scam, it's not a respectable project IMO. And it quickly gets worse from there over the next 10.

Strongly agree that the best bucket is going to be composed of a vast majority of bitcoin and ethereum.

I don't believe crypto is on the whole in a bubble right now but the fact that Bitcoin Cash has a market cap of >$5B is one of the biggest things that makes me question that.

I think BCH is a reasonable idea, block size is a problem with BTC and increasing it is fine even if it makes it less likely that normal users will run full nodes.

The scumminess of it comes from people like Roger Ver who peddle it as the "true" BTC. e.g., bitcoin.com is owned by the BCH folks and they have several intentionally misleading things there that try to re-brand BCH as BTC and BTC as BTC legacy or whatever.

I agree, that community is it's own worst enemy.

That you take Bitcoin Cash as an example of a non-reputable cryptocurrency is pretty sad. (And it's #5 not #7.)

Ripple is for instance not a cryptocurrency, and everyone knows about the scam that is Tether.

Litecoin has zero development (except to copy what Bitcoin is doing) and the development in Bitcoin itself has some serious issues.

It has the number 7 next to it on coinmarketcap. That seems a good indication of it being 7th on coinmarketcap.

I feel like such a slanted take should come with a disclaimer of your holdings.

I hold much more Monero than anything else.

Bitcoin Cash is a solid project, multiple implementations of the client, real developers. I don't personally own any, but it isn't a fraud.

I was more shocked to hear there are at least 550 actively traded coins.

It's a good time to write a crypto whitepaper and put up a fancy website. It's not alt-season yet .. when it starts is when you see the real shitcoin proliferation. Wouldn't be surprised if the number is in the 1000s.

ETH and BTC dominance is closer to 73% at the moment.[1] But your point is still very much valid.

[1] https://www.coingecko.com/en

It wouldnt be uncommon to have multiple indices and one that is "Crypto ex-BTC ex-ETH"

I would assume you'd go by the market cap and trading volume of different coins. So BTC and ETH would dominate, but you'd also have to make room for LINK, XRP, DOT, etc.

Initially, the index might be more for performance benchmarking for crypto funds than it would be for passive investing?

So crypto funds can follow hedge funds in demonstrating how well they’re underperforming the market

And just like hedge funds, this will give them better access to capital...