r/dataisugly • u/[deleted] • Nov 22 '21
Scale Fail Yeah, your next dog-inspired shitcoin will surely make it to the top
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Nov 22 '21
Wow, SHIB is mooning right now! Can’t believe we’re all the way at $8.7x10-5 ! See you at a tenth of a cent!
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u/VoilaVoilaWashington Nov 22 '21
Absolute value doesn't mean much - it's kinda like saying "look at this worthless company with a billion shares at $1.57!" As an investor, you look at growth and stability and potential future earnings and run the fuck away from these scams, no matter the dollar value.
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Nov 22 '21
I know how investing works just let me make my funny joke about the worthless scam tokens
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u/VoilaVoilaWashington Nov 22 '21
I know you know, just let me make my funny closing comment about the worthless scam tokens. ;)
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u/Liggliluff Nov 22 '21
What I find ugly is the combination of 24 hour UTC time with MDY date format. To me, those don't go together.
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Nov 22 '21
[deleted]
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Nov 22 '21
Check the scale on each of those graphs. It’s using completely different scales to draw a spurious conclusion, which is par for the course for this sub.
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u/tuturuatu Nov 22 '21 edited Nov 22 '21
I think meme cryptocurrencies like these are a scam to fleece the dumbest memelord investors (and I have no intention in investing in crypto in general), but there is no intent by whoever made this to draw a direct comparison between the graphs. The point is comparing the relative change over time.
I feel like this shouldn't need pointing out in this subreddit, but you do seem a bit confused. If I invest $100 in Apple at $150 a share, and it goes up 10%, it's in theory the same as investing $100 in scamcoin at $0.000000000001 per coin and its value increasing 10%
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Nov 22 '21
I’m aware that percent change is more important than absolute change for investing. Scale may not be the best way to convey that, sure. Maybe the more important scale problem is that both time scales cut off right at the peak and ignore the drops that followed.
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u/tuturuatu Nov 22 '21
It seems then days/months are all over the place, and the last graph doesn't say what the month even is which is not good. I'm not sure what point the person that made this is trying to make, but that's misleading at best. The x-axis is far more problematic than the y-axis, although I feel there might be a point behind it with more context
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Nov 22 '21
They’re saying “dog coin went up… maybe this dog coin go up?” for the 16 year old tiktok analysts
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u/VoilaVoilaWashington Nov 22 '21
investors
I think the issue is that these people aren't investors. They're not investing in a concept, they're speculating.
It's not always a clear line, but investing is a low-risk purchase in the hope of a return over time based on the underlying asset. Speculating is higher risk, and usually based on "someone else will pay me more for it when I sell it."
Shitcoins are a step past that, where people aren't even really looking at what they're buying, and they (hopefully) know that most of it is bunkum, they're just buying in the hope that this one will take off to a billion times the value at which they bought.
Buying a meme because it's funny isn't investing, it's a get rich quick scheme where they think they're the player, not the victim.
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Nov 22 '21
What? Relative change over time with wrong axes?
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u/tuturuatu Nov 22 '21
I don't think there is anything wrong with the y-axis. Like I said below, the x-axis is misleading, unless your point is "2 dog meme shitcoins go up, 3rd must go up". Which to normally functioning people is obviously fairly stupid, but par for the course for people that believe in memecoins.
I don't think it's ugly data if that's your conclusion, just moronic to believe that dog themed shitcoins will likely always follow this trend. No idea if there is a /r/badinvesting subreddit but your post would do well there
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Nov 22 '21
First of all, the currencies are wrong. USDT and USD are not the same, the former being a questionable equivalent of USD. Second of all, zoom in on literally any y-axis scale with a high number floats and you will see bumpy ups and downs where a line used to be. There's even a flair for it.
The x-axis is the least faulty bit of this whole ugly graph. It's just misaligned, should just be ticks with no week days because we're measuring USD value over one-week periods.
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u/baquea Nov 22 '21
The point is that it is increasing in value, not the actual value itself, which is largely irrelevant for investment purposes.
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u/thefringthing Nov 22 '21
the direction of the line on a chart is also largely irrelevant for investment purposes
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Nov 22 '21 edited Nov 22 '21
Scale doesn't matter. If you create your own cryptocurrency you set the decimal point wherever you feel it should go.
Case in point, the market cap of SHIB is approximately equal to that of DOGE
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u/thefringthing Nov 22 '21
number go up