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chilly9876 (OP)
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November 10, 2017, 07:19:49 PM |
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I've been using Kucoin to trade NEBLIO a few days now. Since last night it seems they have started faking trades to push the price/volume up.
Don't believe me? Try this..
Goto NEBL/ETH on Kucoin
Put in a buy order of 1 higher than the top buy order, eg if top buy order is 0.013117 you put yours at 0.013118
Within a minute there will be two trades completed 1 higher than yours at 0.013119, one will be double figures like 45nebls worth and one triple figures like 110 Nebls worth
The completed trades seem completely fake and always follow the same pattern. Don't worry your trade shouldn't go through as there will be no real buyers for yours.
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disam
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November 10, 2017, 07:25:59 PM |
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could be a bot trading?
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chilly9876 (OP)
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November 10, 2017, 07:37:44 PM |
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No bot trading as the buys are always .1 above the top bidder and always within a minute of top bid. For a bot to trade there must be a seller, there isn't.
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SL18
Member
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Activity: 95
Merit: 10
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November 10, 2017, 08:57:23 PM |
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I don't think its a scam but I've witnessed that as well on KNC
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cxt07
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November 11, 2017, 12:34:34 PM
Last edit: November 11, 2017, 12:56:58 PM by cxt07 |
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I like the exchange but this is very annoying like a cat and mouse game, have something wanted to buy this morning and it keeps making a buy wall right above my buy, i will never over pay for any alt shit coin so this might not be the right exchange for me.
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alexey8080
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November 11, 2017, 09:17:03 PM
Last edit: November 11, 2017, 09:27:32 PM by alexey8080 |
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Yes, I also noticed this at NEO/ETH.
Looks like they want to increase the volume.
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Crasengover
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Activity: 336
Merit: 103
Proof-of-Stake Blockchain Network
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November 11, 2017, 10:11:52 PM |
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I tried trading RPX on Kucoin and haven't noticed anything suspicious. Yes, sometimes people set the higher of lower price by 1 decimal just to be in front of others, if they wan't to sell/buy their tokens ASAP. And even if you see unusual trading on some pares is doesn't mean that this exchange is a SCAM.
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SL18
Member
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Activity: 95
Merit: 10
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November 14, 2017, 02:51:42 PM |
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I tried trading RPX on Kucoin and haven't noticed anything suspicious. Yes, sometimes people set the higher of lower price by 1 decimal just to be in front of others, if they wan't to sell/buy their tokens ASAP. And even if you see unusual trading on some pares is doesn't mean that this exchange is a SCAM.
I think what he is referring too are "fake" transaction which happen to be the minimum decimal above the asking or bidding price. I think they want to increase volume as it doesn't happen with RPX but does with KNC which has super low volume. |
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uobaaagrf
Member
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Activity: 97
Merit: 10
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November 14, 2017, 03:00:36 PM |
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I tried trading RPX on Kucoin and haven't noticed anything suspicious. Yes, sometimes people set the higher of lower price by 1 decimal just to be in front of others, if they wan't to sell/buy their tokens ASAP. And even if you see unusual trading on some pares is doesn't mean that this exchange is a SCAM.
I think what he is referring too are "fake" transaction which happen to be the minimum decimal above the asking or bidding price. I think they want to increase volume as it doesn't happen with RPX but does with KNC which has super low volume. If it's not a robot transaction, I think the big probability is that the exchange's artificial data falsification, maliciously pull high altcoin price. To be honest, this kind of approach has been a problem for almost two or more exchanges, but the evidence is hard to come by.But you have to be careful. |
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sheilamaydelarosa
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Merit: 0
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November 14, 2017, 03:02:23 PM |
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I think they just want to sell their coins as fast as possible
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SL18
Member
Offline
Activity: 95
Merit: 10
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November 14, 2017, 03:35:27 PM |
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I tried trading RPX on Kucoin and haven't noticed anything suspicious. Yes, sometimes people set the higher of lower price by 1 decimal just to be in front of others, if they wan't to sell/buy their tokens ASAP. And even if you see unusual trading on some pares is doesn't mean that this exchange is a SCAM.
I think what he is referring too are "fake" transaction which happen to be the minimum decimal above the asking or bidding price. I think they want to increase volume as it doesn't happen with RPX but does with KNC which has super low volume. If it's not a robot transaction, I think the big probability is that the exchange's artificial data falsification, maliciously pull high altcoin price. To be honest, this kind of approach has been a problem for almost two or more exchanges, but the evidence is hard to come by.But you have to be careful. What happens is in the transaction log, a sale or buy will be listed at 0.0001 above the bidding or asking price. Problem is it was NEVER in the book order... I've witnessed it way to many times for it to be a coincidence. |
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Jamjamz30
Member
Offline
Activity: 332
Merit: 12
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November 14, 2017, 04:11:21 PM |
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I've been using Kucoin to trade NEBLIO a few days now. Since last night it seems they have started faking trades to push the price/volume up.
Don't believe me? Try this..
Goto NEBL/ETH on Kucoin
Put in a buy order of 1 higher than the top buy order, eg if top buy order is 0.013117 you put yours at 0.013118
Within a minute there will be two trades completed 1 higher than yours at 0.013119, one will be double figures like 45nebls worth and one triple figures like 110 Nebls worth
The completed trades seem completely fake and always follow the same pattern. Don't worry your trade shouldn't go through as there will be no real buyers for yours.
Kucoin for me actually new to me and I never use it this time, but there is one I heard that one of the successfull ICO which is Utrust is listed on this site platform. Which means, I think its not a scam. its not because its new exchange in this industry it is already scam, perhaps its not like that. |
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Leodalat
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November 14, 2017, 05:29:04 PM |
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For a new exchange, the use of tricks is easy to understand. You should not be so negative about this, they just want to attract the attention of traders, investors. They need to grow
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perazdera
Newbie
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Activity: 40
Merit: 0
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November 17, 2017, 07:05:10 PM |
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For a new exchange, the use of tricks is easy to understand. You should not be so negative about this, they just want to attract the attention of traders, investors. They need to grow
Yeah, they are still small. Biggest trading volume that i sow was around 70 BTC. Compare to the others that is small. They give nice bonuses every day so I do not mind if they want some attention. |
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Proxik
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November 17, 2017, 07:11:13 PM |
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Lol this is just a bot, watch NEBL on cryptopia, it is the same there too.
Actually i hate it but theres nothing i can do
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ba1amut
Member
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Activity: 350
Merit: 11
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November 20, 2017, 05:25:13 PM |
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bot trading ) not a scam )
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GODLIKE
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January 03, 2018, 06:47:07 AM |
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This happens normally on Poloniex. It's a bot setting I think.
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Timeme
Jr. Member
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Activity: 84
Merit: 1
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January 03, 2018, 06:48:45 AM |
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Kucoin has a lot of machine lists on it, and they will automatically swipe the volume, and you need to be aware that this is not a reliable platform
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unusualfacts30
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January 03, 2018, 06:49:15 AM |
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could be a bot trading?
This is what came in my mind. I have seen it happen when I was selling BTC for usdt. lol. definitely no scam here I have seen it happen on every website I've used. |
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shiningstar
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Activity: 420
Merit: 100
Qravity is a decentralized content production
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January 03, 2018, 06:59:42 AM |
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Isn't just a bot? There's a lot of bot in exchanges and there must be some in kucoin aswell. Although kucoin is still new but someone can make a trading bot for it and make trades like the one you've described, i've seen plenty of it on other exchange like bittrex or hitbtc so it's nothing new.
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