Bitcoin Forum

This topic has two purpose:
1) show how Yobit is fake pumping shitcoins to make money
2) how market cap is a terrible thing for comparing and ranking altcoins.

Their pumping bot is out of control  ;D
most recently they pumped a dead 1 satoshi altcoin 80,563,100% (yes your eyes are seeing the number right!) and right now this coin is number 3 in market cap with only 0.41BTC (fake) volume and 0.00014000BTC price.

here is the coinmarketcap.com screenshot at the time of this happening:
https://i.imgur.com/0X8x7FR.jpg


and here is Yobit wallet page (disabling any deposits to prevent anyone from messing with their fake pump while they are doing it).

https://i.imgur.com/e4MEX8I.jpg

The coin is removed from CMC now.

I don't necessarily think CMC should delist Yobit, but Yobit (and all exchanges that do this) should be punished for letting people trade while they don't accept deposits and withdrawals or if their wallet is not fully synced. If an exchange allows trading while not allowing people to deposit or withdraw coins, they can set up whatever price they want because there's no arbitrage. That's just a very unprofessional and even just simply a shitty thing to do.

I also don't think the pump has anything to do with Yobit's staff (they could scam money much more silent ways if they wanted to), it's most likely just some people exploiting the situation.

I guess it's the usual business with those websites. Basically those websites survive on 2 things:

1) Classic ad revenue model: people click on the ads
2) Exchanges and coin devs paying the website owner to get their stuff listed

So as soon as Yobit pays coinmarketcap.com owner he doesnt give a fuck about anything else.

Just my opinion. I think that a lot of dead altcoins should be delisted from CMC. When it says over 600 currencies that does not look good to newcomers. It screams scamcoins galore or just everybody and their grandmother can make a coin and be recognized yay I am a snowflake.

is bad if coin to pump until 85k% but can't deposit
only can buy in market can't deposit, so after buy can dump again

but yobit is exchanger good volume transaction

Ya think ? What was i bitching about with Cryptsy since day 1 ? (well about a month and a half after they opened roughly actually)
You all collectively told me to shut up and cried Troll and FUD and usually banned me.

All these exchanges pull shit like that.

Seriously why are you people using these exchanges to trade still ?
Why the flyin' fuck do you think i stopped ?

Corruption.

Which can mean often they will not do the right thing because it hurts their bottom line... PROFIT $$$
All of them have shot & pissed all over their credibility long ago.

What we see is shitheads willing to tolerate *almost* anything just so long as they can keep counting ROI'z.
The only thing that stops morons is closing the doors..
If Cryptsy and GOX and Mintpal and McxNOW etc were still open you ALL would STILL be using them
..and defending them rabidly like manic foaming at the mouth cheerleaders.

Cryptsy and others are infamous for leaving markets open while their coins are not synced.
There will be trading going on but you won't be able to send coins or get them out.
And to all of you that is acceptable practice and routine procedure.

What do you think happens when you refuse to hold their feet to the fire ?

Exchanges do not NEED to operate with accountability and transparency.
Because you all do not DEMAND it.
You all gave away all your power to them long ago.

I had to create a topic here long ago reminding Cryptsy who's coins they are.
Or i should say *were* ..Vern stole them and ran to China.

Let's play a little game shall we..
You all line up and talk big about corruption and what SHOULD be etc.
Then let's see how many of you go straight to Poloniex to trade 5 minutes later.

PUT YOUR BIG MOUTH WHERE YOUR MONEY IS .

Don't waste our time here spewing this bloody idealistic kiddy rabble while you throw it out the window for cash seconds later.

PS:
The word is Exchange ..not Exchanger broken English foreigners.
Learn your god damn Engrish !

They don't call it the New York Stock Exchanger do they ?

Me luv Yobitz long time  :D Sucky suck 5 dollrah much ROI'z !

Learn English idiots !

Isn't this simply the case of a low volume coin that can easily be bought to those type of market cap increases with just a fraction of a bitcoin?

This is not Yobit, but rather a problem of low volume coins and instant market cap updates.

Don't mean to doubt you or anything like that but how can we believe that all screenshots were taken on the same day?Particularly the last screenshot of yobit

https://i.imgur.com/e4MEX8I.jpg

Was it also taken same day when Yobit was pumping the said coin?

This is on the point, none working chains should cease trading, as it becomes an exchange only asset.

It is not 85k%, but got pumped 8.05M% (yes, it is too insane). Look carefully with that picture.
They are doing that because they don't want people take advantage by buying CUBE from other exchange site then deposit to their site (What a shame)
No, yobit is not good exchange site. I suppose they are faking their own volume cryptocurrency transaction (Just like on above)

i say they should because their volume is 90% fake and they have a page listing exchanges based on their volume and Yobit is gaining rank in there for this.
also it is not just disabled wallets, you can not make trades either. if they have  a fake order open you can not sell to that order!

and next time i will post an screenshot of orders as small as 1 satoshi (the minimum trade volume allowed is 10000 satoshi) if i have time and can catch another glimpse at their fake pump operation.

Edit: it didn't even take me much time to find one ;D
https://i.imgur.com/UBbwxCC.jpg

notice how users can not make the same trade as the hidden yobit pump bot because it is smaller than the allowed size?

also do you notice how thin the orderbook is yet they are reporting 20+ bitcoin volume?!


instead of replying to this post you could have checked the wallet yourself! you replied only 5 hours after i posted this.

I don't know why some people crusify Yobit for pump and dump, this occur on Poloniex too and most of the exchanges are guilty of these, when Pascalcoin went on Poloniex the price jack up and people were happy to make money but when it comes to Yobit people will keep crusifing them

yobit has this peculiarity and some irrelevant coin which should be delisted. In this growing numbers of exchanges, if yobit continues to encourage that ridiculous pump it will reduce the trust of subscribers. Poloniex thread is softer than yobit 

did you look at the last comment (the screenshot that i added)? take a look at it again carefully.

pump and dumps happen in any altcoin, but it always happens on platforms like poloniex and other exchanges and anyone can join in and make a profit. i challenge you to make a profit from the fake pumps on yobit.
first thing you will encounter is that you can not make the same size orders like yobit does, second thing is that they put up orders that you can not buy from or sell to an still make profit.

an by the way, i would have never made a topic like this if i didn't see hundreds of newbies saying Yobit is the best place where it clearly is not.

The Newbie Endorsement, quite an effective litmus test of anything crypto related.

Even if they delist it,dev's of new coins will still prefer Yobit because of the pump and dump that's frequently happening and investors and traders are making profit from this scenario,but hey Yobit just updated their coin submission,they are not accepting newbie announce coin anymore and they want it bitcointalk topic only,how's that for a change.

the only coins they fake pump are the coins that are dead, and gone. which means nobody had any coins there anymore and devs are long gone. and even if there is a dev, or someone with balance outside of Yobit they either disable the deposit option or don't even have deposit option in the first place which means you can not take advantage of the pump.

^after considerable frustration and meditation i've reached the conclusion that we need a place for coins to die -> a "coin purgatory" ~ if you start to think of yobit like this it will make sense ;-D *the same thing we hate about yobit is very similar to the OTC/pink sheets in the real stock market * trade hard and fast take profits ~ yobit does need to increase their withdraw fees tho as bitcoin withdrawals are sometimes get stuck FOR DAYS!! grr :\

I really don't like yobit.
It runs slow on my pc which is not that old and the amount of coins on there are just cruddy.
They just put up a coin I never heard of before called mbit. Now it is just looking to be a platform to pump up these kind of useless coins.

^most coins are useless besides bitcoin and ethereumz :-D ha

Mostly Yobit will pump only 1sat coin, but already Digi cube is dead coin but Yobit pumped its very high percentage.
CMC also should delist some of the coins when it doesn't reach the minimum requirement of value.

Since depositing this coin was out of the question. What is the purpose for them to pump this coin? Since aside from Yobit no one can buy or sell this coin, so who makes a profit from this? Are they just buying and selling from themselves? I don’t get why they do such a thing.

You cannot deposit means you cannot dump the prices but you are all set free to buy that coin using btc to participate in the pumping.

It is the wired practices now a days most of the exchanges are doing. I read some exchanges are not opening deposit options for ICO holders even after end of ICO phase just to give room for devs to dump first (and for exchange too).

buy buy buy ;) lol

Yobit is a bad exchange!  This is a warning.

Did coinmarketcap.com kick yobit.net?

https://coinmarketcap.com/exchanges/yobit/

https://twitter.com/RealCryptOracle/status/961375932769587201

https://i.imgur.com/6eOihxR.png

Recently, I've been observing this "bot behavior" from Yobit and that is a very disgusting way to manipulate data for their own scam coins. My friends, myself included started to stay away from that exchange when we observed that kind of manipulation. People should already be aware of it and they should stop using it. This exchange can turn into a scam one due to their unprofessional activities. To be fair, any exchange could turn into a Gox-like one with just a flick of their fingers but Yobit is in my top list for it.  ;D

Their admins are systematically scamming their user via the yobit codes function and through chat and PM.
They scammed me on a quarter of bitcoin, and now they are using my name to scam others.
PLease Delist them!!

Yobit is full of pump groups using shitcoins as a ponzi scheme. if you're planning on using yobit to trade on then i suggest you follow these groups on telegram. Otherwise, better off just using a normal exchange like huobi instead

I thought I'd give Yobit a try to purchase some Namecoin.  I only tried to do this because they were listed on Coinmarketcap, which gives some legitimacy to Yobit.

When it came time to withdrawal the Namecoin,  after purchasing a little, everything looked normal, until I hit the submit button, and the message came up:  Withdrawal for such currency is temporary off.

I'll update if this gets resolved.

Yobit is legit imo it never goes away!  8)  muuhahaha

===>

https://yobit.net/en/trade/DFT/BTC

One question, why purchasing that shitcoin Namecoin? People do really lost their path into shady exchangers due to these kind of behavior on purchasing up shit tokens.

Hard to admit but this is the truth. No matter how this shady exchange faces up some issue it do still operates and continue to give out shitty service
on crypto community.

+most importantly i doubt yobit will ever ask for kyc dox ;) #resist

Yobit has been here for a years in crypto industry, but most of the coin listed to their platform are all shit only few of them are good such as Bitcoin, ethereum, and more. Then, the rest are nothing this is the only platform exchange were most of the coins are doing pumped and dumped concepts. In short you will only cry when try to buy coins in yobit for sure. So I agreed that yobit must delist at the coinmarketcap.

Yes, people already have an idea about the Yobit exchange but people who are very new to cryptocurrency will get into Yobit because they don't which exchange is best for them, So it is good to delist the Yobit exchange from CMC, most of the coins listed there are fake coins which will become zero with in days.

Why don't you guys don't try to report it directly to coinmarketcap and tell them about this issue?

The more people reported this exchange in CMC I'm sure more chance that Yobit will remove from their list.

Here's their contact page https://blog.coinmarketcap.com/contact/

no reason to remove it, yobit has been around for years i'm sure coinmarketcap knew what they have been  up to long time ago. yobit however still  helps make the market flow. same thing with the coin BSV i guess, the coin may not be supported  by huge exchanges but they are still  on some exchanges where volume is going stronger. they can't just delist them.

I do believe and think that coinmarketcap.com is the most popular cryptocurrencies website and people and Cryptocurrency enthusiasts actually love this site because of important information it provides about almost all the coins and exchanges. I have asked this same question you asked because of the way I do see people speaking and commenting about yobit and some unacceptable behavior but I see coinmarketcap.com retaining them among the coins listed there. I belief with they reputation, if coinmarketcap.com keep retaining it there must be a good reason for this and we should accept they decision and the data provided for us from yobit. After all from my experience, yobit is not all that bad as we were made to believed.

While I don't have any sympathy for YoShit at all, I think you are right here. It isn't possible for Coinmarketcap to delist exchanges if they don't like it, they have to list all known exchanges because Coinmarketcap needs to be neutral even if YoShit as exchange isn't a good choice: Yobit Scam Accusation megathread. "Normal" modus operandi or shady practices? (https://bitcointalk.org/index.php?topic=5134358.0)

I believe CMC is trying to fight fake volume through their new verification process. Unfortunately, that number still seems to be able to be manipulated (If you believe the Bitwise report)

It's been a while and long-time ago that yobit has been in a years so it's not enough those reasons to remove yobit in coinmarketcap, but so many issue's comming up in yobit so they getting rude of it.

Yeah the long year existence of yobit might be the reason on why cmc didnt de list them despite of many bashes and arguements about how bd yobit was  . If i were to ask about my opinion about yobit i can say that yobit is doing fine and yobit is not hurting anyone  .

Other users claims that yobit list alot of bad coins or sh8tcoins , so what if yobit does that ?  We should be careful because yobit are caring for those type of coins but not only yobit , other exchanges like ed have also done that  .  Bounty/airdrop hunters are thankful because they can still exchange thier coins from these kind of exchanges  .

they are probably not removing Yobit from their list because if they do that their altcoin list shrinks by at least 20% since there are a lot of shitcoins listed there most of which are either dead or don't exist anywhere else.

by the way they are hurting all those who use their platform with their manipulations and pump and dumps and also with their broken wallets that don't work so they steal your coins if you deposit in many of them.

CRYPTO NEEDS A GRAVEYARD: A SAFE PLACE FOR COINS TO GO DIE = YOBIT

 ;D

===> BLAME THE ROBOT$$$ FOR EPIC MANIPULATION

Just saw this thread and i thought someone just created this thread many days ago or so, but actually it was created 2 YEARS AGO! Why the hell people still keep replying on here?

This thread also has proven to us if Yobit still alive and listed on CMC until now (but yea, still listing lot of shitcoins in there)

Necro-posting is bad but it isnt really totally wrong if someone bumped it up comparing the situation of the past as of this present times.Yobit is still standing and being listed
on Coinmarketcap and no one has ever stopped it or being delisted but majority of people or investors do know on how shady this exchange was but there are people
who are still keep using this exchange.

True, if coinmarketcap will delist yobit, they also have to delist bunch of exchanges which has similar low volume of yobit.
I believe the only basis of coinmarketcap to delist and list is just the volume, so far, yobit still has the volume although obviously there are a lot of shit coins out there that people still patronizing for short term trading only.

Yobit is fitted on the criteria of CMC thats why its no doubt that it would really be listed no matter what.Basing on this link https://coinmarketcap.com/methodology/#listings-criteria

maybe yobit robot token people are behind CMC? =) lol weee

The first question we should ask is the metrics that Coin Market Cap are using to put any coin under the first 10 of market cap. I think the volume, the use case, the community, how often the team make updates on explorer and add value to the project, how the public rate them etc. all these should be put into consideration and will put an end to all these fakes volume that we are seeing today.

I don't think there's any relation on how CMC decide top 10 coin list with the topic being discussed here. Even if they changed the top 10 metrics, or how they count market cap in general, that won't result in Yobit being removed from their list.


True. They still exist because people still use and believe them, though maybe most of them get rekt here. If they suffer the same as Cryptopia, that's probably when Yobit will finally get delisted from CMC.

Yobit was already yobit years ago, nothing's change, they are still the same exchange that does not have good feedback from some people, but how can coinmarketcap delist them when they still have a trading volume, they have $40,328,150 USD now, that's from a combine of legit and shit coins.

Just because people fall for stupid hyip games does not make yobit a scammer,,, in my opinion, they quite clearly show that the rocket icos and Yobit IEOs are nothing but games that only reward the early investors. I am 100% sure that even investors also know this and are only complaining when they lose the game. All is fair in crypto world. Self education is the only way.

<<<(((SHAMELE$$$ PLUGGG))))>>>

===>

https://yobit.net/en/trade/RUC/BTC

  :) ;) :D ;D :o 8) 8) 8) :-* :-* :-*
/\RUC===>WEEEEEEEEEEEEEEEEEEE

Possible. hehe
This shady exchange has never been hacked and this is what amazed me even its shady but there are people who do love them but most probably those shitcoin
lovers do really like to hive on this place.

If people know how bad Yobit is and still patronize them then who is to blame? Yobit on their own did not force anyone to come to the exchange, @op why do you feel so bad about this pump? maybe because you are not able to join the pump to make insanely profit? am not a Yobit user and i have nothing to complain about, if you feel the exchange is shady then stay away, if they don't have people patronizing them they won't make profit or be in business :-\

There are traders who hate yobit but there also who patronize it, the reason why it still operates until now is because there are still users of the site.

They could do a pump and dump but it's not them, it's definitely the traders who are doing it, let's just say traders who loves to take higher risk are playing with yobit, I'm sure they are aware of the reputation but they still are using the site.

Yobit have investment plans so there are chances for that bump and dump done by the yobit itself because they need more investors to invest on those plan then only they can make money but yobit os not the only exchange giving fake volumes so still some people using it.