Bitcoin Forum

Guys if you havent heard already theres supposedly a huge SCAM going on with our favorite Coin Market Cap, check out this video towards the end he dicusses it:

https://www.youtube.com/watch?v=3ql-_TZH9rc&t=812s


and what do you guys think is going on?

After having a horrible experience with coinsmarkets, I really started to lose my hope with other not-so-popular exchanges. Seeing the video is really disappointing and I really hope it doesn't turn out to be true. In case it does, I am sure the market will take another hit and prices will again start falling down (which is heartbreaking). Keeping my fingers crossed at the moment.

I can't stop wondering how come CMC keeps their #1 position. It was painfuly obvious CMC is slow, have no historical data, they often show inaccurate data. I mean how hard it is to fetch market data from 100 or so exchanges? It's not like they don't cooperate or change API on a daily basis, shouldn't be that hard to make service that work fast, reliable, but what most important every point of data have to be explainable.

Meh...

Agreed. CMC is a really outdated resource! Its like that haven't update it in like 5 years.
Does anybody know a similar website but with better features?
Thanks!

I wonder if CMC even hosts a full node. Not that I'm a big fan of Blockchain.info, but even their numbers looks more reliable then CMC's. Damn shame!

Do they have to host a full node? As far as I understand CMC just aggregates data from exchanges.

There are quite some other options to choose from.
These 3 have pretty much the same featuers as CMC:

• https://www.livecoinwatch.com/ (https://www.livecoinwatch.com/)
• https://coincap.io/ (https://coincap.io/)
• https://coinlib.io/ (https://coinlib.io/)

Note that there are way more than just 3 alternative to CMC. Those are these which are used most frequently by people.

These sites look good, thanks!
One feature I am yet to find though is historical charts of daily trade volume for each of exchanges listed. Doesn't seem any of the site you've shown has it.

Are you sure these dont just run off of CMC data base?

I personally don't believe what was said in the video because coin marketcap was long existing coin list and  market update. However, we don't have to jump into conclusion here.

Have you checked the info yourself though? to see if they are in fact missing coins and things like this?

no they don't run a full node and they don't have to run a full node. Coinmarketcap.com is not an exchange to need to run one and it is not an exchange to be able to even affect the market the way all these dramatic articles these days are suggesting they did!
you are correct, they just gather data from exchanges and put them on their website and that data is updated every 5 minutes. and just because there may be some wrong data there doesn't mean they are "scamming"!

I hope it isn't true. But as others have said before me, there are better sites out there for sure.

Who said to you coinmarketcap is scam dude. Please do not believe all the videos on Youtube. It might be created for getting more number of views as well. So please check the coinmarketcap.com listed coins and other information about each coin.
It could explain you better in understanding about them. If you are worry about their advertisement, that is their earning method.

Suspecting that you are looking for get the views for your video itself ;D

I don't think that the right word/term is "scam" try to see this thread https://bitcointalk.org/index.php?topic=3191840.0, it's obvious that the article read by the person on that video can be seen there with this two medium posts, try to read how coinmarket cap has possibly manipulated the market as one of the best resources for coin listed especially those new coins/tokens and from ICO tokens obviously.

https://medium.com/@coinmarketcapped/intro-how-coinmarketcap-cmc-manipulates-the-market-by-showing-fraudulent-information-to-the-c1246a953144

https://medium.com/@coinmarketcapped/part-a1-fraudulent-data-provided-on-coinmarketcap-distorts-entire-crypto-currency-market-77e01f067b49

You think manipulating the market should not be considered as a scam ? Well,it depends how many people are affected and if people are losing money due to the fake numbers.In our case,cmc is exactly doing the same.I would leave the decision of calling them a scam/not-scam to you but they certainly shouldn't be trusted anymore.Better yet,stop visiting their website.

With those behavior and exploit then it would really be just normal on not to trust them anymore.They have just wasted up on the reputation that they had built for years.Area of effect would really vary to those people who do actually make use of this site when it comes to investment.Differences on numbers will really make some effect.In my situation I do visit this site but seeing only the current price between exchanges without minding too much into market volume or caps.So its not a big deal in my side.

Oh, My! In as much as I don't want to believe what was said in that video but it's really alarming. I have really trusted CoinMarketCap. Since I started out with bitcoin, I have never used any alternative website for coin and price update expect CoinMarketCap. I bet their traffic will drop if this video is viewed by many people. I really like them but they should please fix this.

Yeah me too after using their services so easily and greatly I'm hands up to their work now this? I wish this would be a hoax only. There sorts of stuff that had been going recently about coin market scam. All those news are not always true if we cant can't trust anybody by the video then why would he trust the news.

I will also add https://coincheckup.com/ to this list. There are many alternative with coinmarketcap so I think it is time for people to move on and find another site that will provide more accurate data. There may be many people who depend on it but it is time to shift and mistakes are made from time to time. I don't think that they intend to scam anybody. It is just that they are outdated and they need to update their info because many people depend on the data they provide. With the amount of traffic they get every day, it is time for them to at least spend an effort updating their site otherwise they would lose a lot eventually.

The guy is going over an article that was written a little while ago. The article gives me SJW vibes, and has a lot of tribalism in it. I don't give a crap of BCH (BCASH) but that article is attacking Coin Market Cap for having bitcoin.com and forum.bitcoin.com listed as #2 on some subjects on Bitcoin's info. Like who actually cares... and supposedly 75% of the information is wrong across all coins, but one of the things they say is wrong is there is differing amounts between Coin Market Cap and blockchain.info about total circulation by less than 700 BTC. I mean most of this just seems like a hit piece. Guy in the video is fine, he's just going over the article (which is just splitting hairs). If they're off by a margin of 1% or less is that really a big deal????

This is a very serious case:

in short they have become a kind of divine beings of the crypto world and they can have huge profits with this manipulation and the work of many Dev will go to waste and many people will lose a lot of money. Constantly (and I do that) we say that the X coin is not good because it has a very low place in the CMC, reading this news makes me feel ashamed, I use CMC a lot to trade and now I'm going to have to look for another alternative to CMC . Frankly, this world is full of people with exaggerated ambitions.

But have you checked to see if there info is inaccurate? always do research before saying this is a scam or not a scam because you could end up REKT

You always gotta be on your A game, this is the wild west!

They have to update coinmarketcap to make accurate and reliable price analysis cause this issue might be cause of all FUD. That's why all altcoin are going down for no reason. All the web devs of CMC have to do is to scrape data from 100 or more exchanges to make accurate market price results or they're doing this on purpose.

What the fuck, if this is true it is really bad news. To be hinest I have a tab from coinmarketcap opened right now and I need to rethink my information source, thanks for this.
But to be honest I am not to surprised I just tokk this one for granted.

Everything is going down right now. There's blood in the streets and all we're seeing is red. None of that has anything to do with some market cap reporting website accidentally getting a few things wrong on a small margin. If you can show me something with a 10% difference I'd be more compelled to think it was done intentionally.

I don't understand. The video said CMC is showing wrong data. We don't know it's intentional or not. If it's just by mistake, it's ok. If intentional, what do they gain by doing so? If we aren't sure they are getting something out of it, how can wee say they are scamming?

Never watch the video but I read the article that explained the whole scenario and to be honest there are some information provided by coin market cap which is quite different to blockchain informatio. Example bitcoin market cap.

But did you try to read my post first and the medium post/article? Obviously not due the article is 37 minutes to read ::)
Did I say scammers? Who?

And BTW always do read any article and understand first before saying anything ::)

That’s sad. What about thise who have deposited their tokens in their wallets in coinmarketcap? It is really getting hard trusting exchanges now. If the bigger and more well known exchange can become a scam, how much more the smaller and newer ones.

Lol that's sad too you don't even know what coinmarketcap is but you still want to participate ;D nice try. Firstly coinmarketcap is not a wallet nor an exchange please take note that don't start blabbering something you don't even know at the first place you just started a spam .

All are cashing there popularity.

Facebook such a big tycoon company is selling data to get billions , so these are just small monitors.

What a pile of BS. Anyone can spend a minute or two to check all the data provided on CM about the coin they need. But no, instead they go "Oh I don't want to believe it, it's a scam" etc.  I mean, why and when did people become so dumb?

Well, another FUD in this bear market period. Coinmarketcap would not do that for sure and anyone that is highly-skilled in the market would notice that right away but there are no people addressing it so that is a just s pure FUD.

Righttttttt, im pretty sure they would do it for money which is how most of the ads and things likes this end up on the site in the first place and also just in general thats how the world works. A company pays to put a story up to cause FUD and one side yes people need to stop reading the news everyday and just stick to whats in front of them and the market would recover rapidly and on the other hand company and sites like these need to be stop because its not fair to the public FAKE NEWS!!!

You fail to get the main point of importance here, which is that the majority of the people paying attention to sites such as CMC are noobs. It provides them basically all the information they need to find cheap coins, the exchanges they are listed on, etc. It's basically an excuse for noobs to don't do any actual research themselves, and thus remain lazy. Serious investors don't invest in rubbish coins to begin with, where on top of that, they have their own tools to check everything they need to know about coins they plan to invest in or trade. People for once need to do a bit more effort before they blindly trust on third party information....

BOOM 100 percent agree people need to start doing TA if you guys want this to not be a manipulated market

pretty obvious after they removed ripples korean price, so the price tanked, not touching that corrup shit site, i use livecoinwatch instead, and it auto update price wich cmc dont do.

good info thanks

Right, being a little wrong on a shit ton of coins with a small margin for error is not scamming. They probably just have different systems so they're not constantly scraping exchanges and overloading servers. It's an ethical thing to do to not automatically have bots scrape websites over and over, because once a few websites do that, it starts to cause a lot of load on the exchanges they're scraping data from.

Thats another good point! but again i still think that because ICO companys pay CMC for the their coin to be put on there obviously and then the workers of CMC get inside info as well which is just unfair so why should we support something like that !

Have checked in it but it seems he was only stating it with no solid proofs this video is not alarming it's just pure bullshit. These people are the cause why bitcoin's price is unstable and digging deeper they are the one to blame because they are spreading fake news in the internet and scaring potential buyers.

I hear ya

I don't think there is a need to call it a scam since false price of the coins might be a bug in the their script or API. If its true that they haven't fixed the problem after a long time, then people need to look for other alternatives. Also, I personally don't use coinmarketcap since they advertise some scam ICO's at times.

If that's your main reasoning, then you should blame exchanges as well. Bittrex for example knows that when they list a coin, the overall market will get a massive boost -- that's crucial information worth possibly millions if the coin or ICO is large enough. It's precious and valuable information that basically everyone would use in his advantage, and I would do exactly the same. Does that mean you're legally acting on criminal ground? Of course, but there is no point in acting like a hypocrite here -- everyone here would do the same without hesitating. People in this case act like its unethical behavior, but if they are in the advantageous position, this practice suddenly isn't all that unethical anymore....

I hear what ur saying

Everyone do make mistakes and nobody is perfect so this error is just acceptable as long as they aware of their actions that only means that they are just experiencing a human error. Calling it as a scam since they did not steal anything is not right, should OP owe some apology to coinmarketcap? but nah, they didn't bother to point you anyway because they don't know you and i think it would so nonsense if they react to this tiny human error.

It's not a scam, but people here are used to call everything they don't agree with a scam, which is somewhat understandable. It's not that Coinmarketcap is an unbiased party in this market.

Their main incentive to show you that what earns them the most money. It's their site so they can do with it what they want. I personally don't pay much attention to that site aside from when I am looking into fork coins unload.

They mostly show you all the exchanges that are allowing coins to be traded on, which comes handy with all the forks we have gone through lately. I lost count of how many it were, but can't complain with the returns.

I also agree with people calling things they dont agree with a scam like POWH3D

Mates would you all please stop this. Continuesly agree each others posts and saying same thing. I suggest op to lock this thread. Like signature campaign query thread we may find many spam answers more.
Better locking thread will be a perfect even I think op got the answer for his query already.

why do you care so much there are a million other threads go join one of them and leave us alone lol

Why would you think coinmarketcap is a scam? Just because there are things that you are looking for and you can't seem to find them? Coinmarketcap is not a exchange in the first place, they rely on the exchanges before they will publish the data in the website. And coinmarketcap is not scamming anyone its actually the best place to check for coins to buy.

Some price differences because of API, delays etc. So what's wrong with it, they try to sell you anything? No. So why yelling?

Well Its hard to believe. CMC is one of the biggest website and they are getting a lot of revenue by high amount of traffic to their sites. If they are doing such shitty things in exchange of money, they will lose their trust and repo and will no longer be able to attract such high viewer ship.
I hope it was a mistake and they keep on giving us right information.

We arent still moved on to this issue? Coinmarketcap is already fully aware on such thing and they might already able to fixed up those numbers which didnt even mind to be updated.I dont see this would really be a big issue  unless if they would really see pure manipulation on marketprice then it would be really risking their top reputation when it comes to checking out market prices of top coins in the market.

I think this must be checked by some institutions, to make sure no body gets affected. It is unethical, if its true.

Sure, let's further centralize this entire market legally just because people are too lazy and stupid to do some actual research before believing everything they read on the internet.

Should we also seek for various institutions to mentally check and approve people before they are allowed to invest in anything? You know what's unethical? That we blame external elements for people's stupidity.

Bitcoin is not a tool for criminals just because some of them are using it. In the same way, if you take Coinmarketcap's word for granted and you lose money because of it, it doesn't make them a scam. It makes you a noob.

It wasn't actually a FUD. There was an issue with the coinmarketcapital website and I think they might have solve the issue. Probably it was a bug but I believe that whatever that happened then caused a price changes that wasn't supposed to be. I like and trusted coinmarketcap, but this incident surprised me and I suspect it have have done the same to some people too.

Don't think the scam accusations are completely justified but its the go to resource because it was the first in best dressed and is still the most popular

The new watchlist feature is handy although its a bit much expecting new assets to have $100,000+ daily turn over just to get listed

Nah, Coinmarketcap is here to stay. The video is deleted btw.
For people crying about the design, what do you actually need??
Nobody needs a "good" looking UI, with crazy amount of JS and stuff like that, so it loads slow af.

www.CoinTopper.com (http://cointopper.com) should be added to this list because it is the nice, beautiful and very user-friendly website for most of the people and also have the same feature like coinmarketcap.com.

I see CMC is adding coins with 1 USD volume like Rentledger or with not-working main pages etc.

We (https://webchain.network) try to get listed there for months, we have over 2000 followers on discord, not so big volume as it is around 1000 usd and lately it went down but is in hundreds, but it's not token - it's full blockchain, not just a fork, with whitepaper, big team (30+) behind it and sucessful projects promoting it

Yet, we are getting complete silence from them. Each request is simply ignored. I was thinking that maybe CMC listing is based on unofficial payment fees? If so, how much it could cost?

If not, why are they adding completely unknown projects but ignore the ones with higher volume/followers? Looks extremely obscure to me.

The video is unavailable, any other useful link or video/article for it. Since I visit the coinmarketcap.com so often, that's why I hook on this thread. Hoping that the author will provide some evidence or this is just a spam and useless thread? Anyway the coinmarketcap.com still online, so I think the issue is already solved.

I like this topic. I have already seen this.

As you can see, there is many different coins and tokens on http://coinmarketcap.com/

This have some prices and multi-millions market capitalizations...
You can see there many "markets" where this is "trading", and... Even the equilibrium price.

All this is a fake! On this all one-day scam-exchanges, the trading volumes is fake too!
There is one trading bot, buying/selling his crypto himself,
and diversify this crypto-shit by his own different addresses,
automatically, after programming this process.

This is an "asset bubbles", and anyone who will buy this crypto-shit, by market-price,
inevitably get the losses in long-term,
moreover the price of this assets is expanded by already stoled real money!

Be careful and don't invest your LAST MONEY, (like I'm already did), in this all crypto-shit.

Any asset from TOP ranked coins/tokens, including Bitcoin,
there an asset which was been issued/premined, by the small group of the peoples,
and in real life they are ready to stole your last real money,
but when they will be really sure that you did deposit YOUR ALL.

They have no so much capitalizations, max - $1000 (one-two computers and the table),
and real equilibrium price of their asset = $0.
Yes, you can see some value of the nodes in mainnet's (https://bitnodes.io),
but usually this is a holders, with their, really illiquid crypto-shit (https://coinmarketcap.com/currencies/signatum/).
They just want to sell this and synchronize their wallets, but usually they get losses on SCAM-exchanges,
even on DEX'es, because gateways to deposit-withdrawals of crypto or/and fiat on the DEX -
this is just a rat's CENTRALISED toilets,
(with one computer + server program, with one table, with market cap <$1000, and fat dirty scammer).

This seems like one-day HYIP's, but HYIP's this is an High-Yeld Investment Programs,
and HYIP's is PAYING THE PROFIT while HYIP is working, and do not pay, after SCAM.
In cypto-shit, on the contrary, you don’t even get YOUR OWN MONEY after investing,
because this crypto-shit is overpriced, buying for already stoled money,
there are no any real companies, they just collect your real money,
anonymously transfer this, and spend it, to finance terrorism for example, or buy the killers in darkwebs.

IMHO, this is the mean sense of all this "hand-drawn crypto market",
because I already lost all my money and don't got NOTHING.
You can see my way by investigate all my posts (https://bitcointalk.org/index.php?action=profile;u=1105573;sa=showPosts). I did lost all our family budget, and I don't know what to do, now.
Anyway, I do not want to have any deal with cryptocurrencies, and money in general.
So, now I am a communist!

Why I don't want to deal with money at all?
Just because such shit is not excluded in bank branches,
moreover, banks can print assets from the air,
both paper and electronic, just by changing the values in their databases, (https://fred.stlouisfed.org/series/M2)
they can block the transactions, and cards.
Crypto-shit is excluding this degenerative actions,
which inhibit the development of the global economy, but... As you can see from my post...
This is a fucking SCAM too.

Speaking of scam, anyone noticed that there's probably a hidden javascript coin miner in coin market cap? Everytime I go to the website, my computer's fans skyrocket to high speed.

CMC manipulates the prices most of the time thats why I do prefer the other like tradingview

I like to use both cmc and tradingview to be sure what is going on the market
If I have any uncertainty I open coingecko additionally