Bitcoin Forum

https://medium.com/@coinmarketcapped/

An interesting article I picked up on medium. Disclaimer -  This is not my content. I have no affiliation with the content, just sharing what's been out there in public in case you guys missed it.

CoinMarketCap.com is LYING to everyone while profiting from it.
It has come to our attention that CoinMarketCap.com, the Number 1 website in the crypto-currency industry, is showing immensely fraudulent and scam information (on purpose) to its users. As a site that is used frequently for reference points by many news organisations, trading outlets, companies, informational sites and individuals, we thought it would be in the best interest of the community to write about what has been really going on with this “trusted resource”.

Please note, our research indicates that multiple attempts to fix information by many coins on CoinMarketCap.com through contacting them through their support requests or online social media sites such as BitcoinTalk.org, reddit.com and other places has gone unanswered, ignored and/or explicitly overlooked/denied. By explicitly overlooked/denied, we mean that after contacting their support with up-to date and obviously correct information, they refuse to update the data. Many hundreds of coins on CMC are affected very negatively (or positively) by this. A lot of them have given up trying to get CMC to put correct data on their site, and have made sticky posts in their own respective forums as to this issue instead.

We also believe that there is massive insider trading going on with the employees, owners and others involved with CoinMarketCap. Our research, including talking to multiple coin creators, shows anomalous buying of coins between times that the coin creators asked CMC to list their coin (through their google form) and between when it actually gets listed on the site. This could mean that CMC insiders know that certain coins will pump, and go on a buying spree to front-run the listing of the coin and the public market sentiment. This can be seen over and over again when analysing the action on coins when being listed.

Pump and dumps are also being actively allowed and managed by the team at CMC without the knowledge of the coin creators or coin communities themselves. This can be seen by the direct manipulation of the circulating supply of some coins. CMC puts the circulating supply as very high at certain points (increasing the market cap), then drops it down to a much lower number later (lowering the market cap). This moves these coins up or down their numbered list causing massive buys and sell offs at the whim of CMC. Luckily this fraud can only be made to happen once or twice with each coin as the public outcry from the coin communities (sometimes) usually puts an end to it one way or other.

There is also evidence of CoinMarketCap effectively “killing” off coins as it sees fit. How does it “kill” a coin? Well it removes it’s circulating supply to “?” or a very low number arbitrarily, and keeps it there for a prolonged period. As the coin goes lower and lower in the rankings, daily volume on the coin dies off until such a time that it is zero (even though the teams behind the coins are still active and growing their ecosystems). This leads to exchanges delisting the coin, and the ecosystem being entirely dead after a period of time. There is plenty of evidence of coin communities complaining and coin creators “begging” CMC to update their information with no luck. CMC literally decides which coin lives or dies with it’s own agendas. In defence of CMC, some coins do lose their circulating supply due to faults of the coins (the data end-points for circulating supply stop working on the servers provided initially by the coins), but many are brought down even with the objections and outcry of the coin creators and communities behind them.

Also of concern is the possible bribery of CMC officials and other nefarious behaviours that could very obviously be extrapolated from their current actions. What if one coin paid a handsome sum to CMC to make sure a “competitor” would have lower market cap? How do you make them have a lower market cap? Easy, refuse to update the circulating supply to what the real numbers are and instead show an arbitrary number of their choosing. This can also be seen on many of the coins listed on CMC. There is ample evidence of coins complaining publicly on many forums yet CMC taking it’s own numbers without any explanation or acknowledgement.

Another area of concern is the outdated/incorrect information of many of the coins listed on CMC. Official coin links being broken or unresponsive, including the main websites, wrong daily volumes (not updated in days or weeks), and hugely different circulating supplies (from those you can officially see on the respective blockchains of the coins themselves) are just some of the additional problems that ring alarm bells with us.

Because of these issues, (and many others including the pseudonymous nature of the founders and team members) we believe it is in the best interest of the entire community to get behind this initiative and make big noise until such a time that CoinMarketCap updates their site to show correct information, or another resource is created/promoted that shows correct and up-to date data on their website. Number 1 can go down to Number 0 very quickly in the space with the right community backlash.

Some may say that these issues may be due to incompetence of the team at CMC or them having limited resources. One of the parts of our analysis will take a much closer look at what kind of income CoinMarketCap really makes. You would be surprised. CMC is one of the most profitable businesses in the entire industry. The user is the product. The ads are the money maker. There are backroom deals, and much more happening beyond the scenes that the public does not know.

Most people here are concerned about centralised mining cartels, hardware producers, banks, governments, regulators and/or core developers being points of issues in this industry. We strongly believe that none of those come even close to comparing to the obvious fraud that has been going on at CoinMarketCap for many years.

The volume of money that is traded on information taken from CMC alone pales every other issue into oblivion. If traders are making buys and sells according to falsified data on CoinMarketCap.com, then they are being manipulated and lied to in one of the biggest frauds in the entire crypto-currency space.

We’re not just shocked at the level of incompetence, negligence, fraud, and outright lying that CMC perpetuates, but at the lack of information about this so far in this industry. For a community that prides itself on self-regulation through transparency and openness, it should be ashamed at not having blown this massive fraud into the public eye much sooner.

We owe it to the community to make sure resources (especially the Number 1 site in the industry) are not being placed in positions to freely commit fraud on this scale ever again.

Because of the importance of this topic, we are not just going to make comments, we will provide proof. Please wait on the follow up posts for more information. This has been a very intense effort in data gathering, reporting and analysis, so we will provide irrefutable proof of at least some of the fraudulent actions of CoinMarketCap in follow up articles.

Thanks for reading and stay tuned for some eye-opening information. We hope this series of posts gets the attention that it deserves. Only then will CMC clean up their act. We hope.

-CoinMarketCapped (CoinMarketCap’d)
Twitter: @CoinMarketCapd

ADDITIONAL: If you are a coin creator or community member who has more information regarding the frauds and outright lying committed by CoinMarketCap.com please feel free to send us a DM/Tweet on Twitter or make a comment below.

As for me, this is another opinion of a man who is looking for a dirty trick where he is not. Maybe they get money, so that a certain coin appeared on their website but no more. For ordinary investors, there is certainly no risk.

Thanks for the info. I will study everything carefully. Until I draw conclusions, but I'll be more attentive to checking the courses from several sources.

I should investigate alternatives of Cointmarketcap. When you practice insider trading and manipulate information of new coins for making a good return, it is not an ethical way doing business.

Some of the arguments given seem to come from a lack of understanding. Such as the ''?'', it appears because its not known yet how much supply such a coin has. A lot of coins that get listed still haven't updated the supply for themselves, do burns or whatever. But some of these coins achieve very high volumes plus you can also look in ''Recently added'' to see the new coins. I'm not sure if there is an actuall problem or if someone is looking for a problem.

so far I do not see any obstacles in CMC, but this news may be a little attention before everything is revealed true, a news source I have not considered the news is falid, still need to be investigated the truth of this news until clear

I have not seen anything evil with coin market cap so far, but sometimes I also check other sites about coins' market caps especially when I can't believe my eyes  ;D There is more effective fud on other platforms.

I can only comment on what I have experienced, and I know for a fact that BTX was very vocal for a very long time about Coinmarketcap not updating the amount of circulating coins they had.  I think CMC needs to be a little more transparent.

The problem is that, its their website and we could do nothing about it if they don't update info.  Of course they can reason they are busy doing something else.  There are several alternative to look at though like this one here https://coincap.io Not all people checks the CMC, I have been monitoring projects for years, I don't rely much to that site but its better to just go into your fav exchange where the coin you want to trade is listed.

a lot of news circulating if coinmarketcap feel not transparent, but i still see cmc give update about coin and volume price and still according to market condition, if coinmarketcap not transparent i think it is time transparent to public.

Ok, you can accuse CoinMarketCap, but at the same time we don't have another alternative to follow price changes, so even they manipulate prices by not showing volume of some coins, it is still best site for majority of crypto users

CMC is nothing in front of Coinbase, which were also involved in insider trading activities. Anyone remember when the BCH listing was going to happen and was just in rumours, Coinbase employees and even their relatives heavily invested in Bcash and after the listing, Bcash got the heavy pump to $3k from $300. And there was also a news about the investigation regarding this insider trading of coinbase. So the point is who to blame man? Crypto is at very early stages and everyone is trying best to multiply their passive income assets.

We have a lot of alternatives to the CMC itself. Cryptocompare, Coincodex, Coingecko, and coinlib. But it looks like CMC is very familiar with the majority of crypto users right now.

Not showing volume means if there is a problem with the developer to calculating the circulating supply of the coin itself.

It's not including on what you have called it as a manipulation.

The cryptocurrency market is so small that it is unavoidable that the market is manipulated by wealthy investors and large trading sites such as Coinbase Coinmarketcap are unavoidable. Keep track of market movements to keep up with trends and increase profits.

I think coinmarketcap is unique in concept. Combining important aspects of cryptocurrency market data in a way that stock market stat watching services couldn't. However, there are several aspects of it that I don't really like.

First: Ticker data is not a good indicator of price by any means. Tickers (which coinmarketcap uses to get prices) can be programmed based on different rulesets from exchange to exchange, can be far from actual market prices (some exchanges show the middle between bid/ask) and can even be utterly faked by exchanges.

For a website that tracks market capitalizations of cryptocurrencies through more accurate means, people should check https://cryptocoincharts.info. They track prices based on all actual trades that happen on exchanges.

Doesn't sound like a serious or well thought criticism at all.

If CMC were indeed engaged in such practices, it would be very easy to spot the fraud by cross checking with numerous other websites publishing market caps (coingecko etc.).

You can't get to be number 1 of any service by practicing such low class behavior, so while it's essential for every investor to do his own thorough research, this article has a very high chance of being fake news and sinister in nature...

I have the same views towards this that this might really be a fake news.We don't even know if those informations are just tend to be pending or not updated due to some reasons  or they have done it for some evil intents.No one really knows but same as you said getting to be number 1 when it comes to these kind of sites you wont really able to achieve this if they haven't proven theirselves when it comes to listing out tokens on the market with various informations.If someone complained about non-updated numbers then give them some time to put the correct ones.

The loss it would make is bigger than the any gain by manipulating the market. That coinmarketcap manipulates the market is more likely to be fud.

There are enough alternatives to coinmarketcap but if everybody keeps using coinmarketcap there won't be any change.

Well said! There are many indeed. CoinCheckup and CoinGecko are some alternatives.

thanks for the vote of confidence. I like your reasonable post, I also noticed that for new coins CMC waits a little bit till there is solid volume and market activity confirmed by multiple sources before publishing numbers, which is only natural, as there are also many scam exchanges that publish fake volumes to boost their exchange's popularity...

There are other indexes that people can use to cross-reference the data on coinmarketcap like: https://coincheckup.com

The data is not always going to be 100% accurate on all assets due to occasional exchange issues, glitches with block explorers or server outages etc and a backlog of new listings and updates

Not suprise. Greed is unlimited.

Coinmarketcap remains the best website even if you give bad news does not make me stop believing it, because the coin movement is very volatile and certainly many people understand how the coinmarketcap work that may not be able to provide data every minute.
please you search any site that refers to the exact same results that there will be data that is a bit late and that is reasonable

it's better to follow CCN.com as the best coin index cap they provide good insights and genuine data on crypto currencies

For example since a couple months they are refusing to correctly show the circulating supply of safex.
Wich is the full 2,1 bill coins and not the 1,5 cmc is showing.

I think that they influence the actions of the crowd. When a newcomer goes to the site and sees a market fall, he starts to panic and sell tokens at a loss, it's like a snowball.

https://coincheckup.com is one of my favorite ones. There are other ones likes Bitscreener, www.Cryptocompare.com www.coinspot.com www.coingecko.com www.coincodex.com www.microcapcrypto.com I actually have a list of them, as well as over 80 ICO rating websites as well. There is way too much  information out there.

If you use multiple sources though you will be able to see the correct prices and therefore Coinmarketcap won't be able to manipulate. But this only works if we as end users use multiple sites and not just one. We all know what happens when anybody gets a monopoly...not good things.

A monopoly is definitely inevitable..

now coin market cap also included in FUD news section we cant completely relay on which news is real and fake but CMC is market direction campus for us all so we need to follow that

It's just imposible to monitor every coin precisely - don't try to find something hidden there...there's no need in this; it's an amazing site.

https://coincheckup.com
www.Bitscreener.com
www.Cryptocompare.com
www.coinspot.com
www.coingecko.com
www.coincodex.com
www.microcapcrypto.com
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Updated Price charts / news / events & calendar crypto sites. Hope this helps.

http://coinmarketcal.com/ - Events calendar
https://timesofethereum.com/ - ETH & ERC20 calendar
https://cryptopanic.com/ - News aggregator
www.CoinPuffs.com (kinda like CMC)
www.CryptoYum.com (news)
https://coin360.io/   (A must see! powered by CoinTelegraph)

Thank you for the merit Chesatoshi! I always compensate back in return. I appreciate your generous gesture and would like to donate BTC to you if you're willing to accept it. Please put your BTC address here.

coinmarketcap is first coin index so they have collected all data analytics to handle the market fluctuations so they have manipulated anytime as per crypto community bribe

I use coinmarketcap to look for current prices in certain time in daytime. So it doesn't really affect my choices. I use it to follow my investments. You should just click a coin and open up a certain market to find its price.

All that I noticed in CMC is inconsistency of information in case of swap, re-issue of coins. The CMC is a convenient tool for viewing individual coins. To analyze the overall market situation, should never use only one resource. This reduces the probability of manipulation.

True. I posted some other alternatives to CMC that could potentially help with trades above. Hope that helps others.

That is a very intriguing article indeed. But of course I will try to research more of it as we can somehow think that it might be another form of manipulative news maybe to discredit Coinmarketcap by its competitors. I will check on the other websites like coingecko to see if these are good sites to view crypto information as well.

While investing I do not use just one source of information my strategy is to calculate an average among exchanges, OTC Market, etc ... Most of the time people who trade cross-coin arbitrage do have a proper information ... With that being said, we are crypto community aren't we ? we love bitcoin because it is "trustless" ...

keep your critical thinking and scepticism  ;)

coinmarketcap is so famous and even your explanation is well written and convincing I am still in favor of the legitimacy of coinmarketcap I trust them a lot .

To be honest, it would be surprising to have such a large leverage and not to use it. I read a similar article more than six months ago. On this expense I have many doubt.

I had not sent them email for at least a year, but in past they always fixed any mistake there was.   So things could change because now is so many more tokens and also coins.   
In general it is totally normal they have many mistakes, but of course they should fix them or at least try to. Basically in crypto is not that hard, since there is only one truth on blockchain.

They are probably constantly getting offers and make deals, maybe they were once in it for the fun but money talks.

I do remember them advertising BITCONNECT on a banner a while ago. But, yes, there are other alternatives to CMC. I believe I posted links to them on the 2nd page if anyone's interested.

All these websites including crypto news websites are manipulating the markets, they post fud news and promote it when they want to buy cheap coins, once they bought their target amount of coins then they start boosting and fomo posts, everything in this immateur crypto world is setup for peofit, so leta accept this reality.

Coinmarketcap is not transparent. You do not know the team and no one who's who they are from. Remove and insert new coins as they please. Obviously they manipulate prices

I think, specify the bound that for this message is true. with the ability and not known for the following fields. very hard to determine my comment from your description. but FUDs is a bound.