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Author Topic: Does CoinMarketCap (CMC) manipulates the market?  (Read 260 times)
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March 24, 2018, 07:59:59 PM
Merited by richardsNY (1), aTriz (1)
 #1

Fraudulent data provided on CoinMarketCap distorts entire crypto-currency market perception

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

i think this is worth reading. especially because of this:

Quote
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.

i appreciate the work they have done by writing these posts.




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March 24, 2018, 10:47:47 PM
 #2

Unfortunately that's what happens when pretty much everyone goes to the same site to view crypto price information, and when most other alternatives typically list fewer coins and/or are inconvenient to use. That a great read, I did know notice the circulating supply issue periodically when I regularly browsed the site, but I didn't think too much about it until now. I'm personally avoiding CMC until they acknowledge these issues and fix them; if you have any reasonably navigable alternatives that list the prices of nearly as many coins as CMC (not Bitcoinwisdom), I'll check them out.

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March 25, 2018, 02:32:17 AM
Merited by richardsNY (1), pickupcoin (1)
 #3

I can't argue that this really happening and will always happen and continue to happen, as the 1 coinmarket cap site in google SERP and many people use this site as a tool for resources mostly on those new listed tokens or altcoin there so... manipulation is in there. Specially with this line "CMC literally decides which coin lives or dies with its own agendas"

BTW anyone can recommend for best alternatives for CMC based on your experience not on google.

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March 25, 2018, 04:35:32 AM
 #4

For a year of using coinmarket as a “go to” when looking for coin prices. I may agree or not that this accusation is true or lies, but the big possibility of manipulation within is imminent. Only an officers or members inside can give or exposed this maltreatment unfairly to other ICO projects and token. Until that time comes, no other option but to stay or find some alternatives or compare both.

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March 25, 2018, 04:47:05 AM
 #5

What.!!

CMC is fraud. That's most unreliable data about the CMC and I would never ever believe in what is being said here. That's simple website with algorithm which extracts the information from most of the top exchangers and from all the exchanger in which specific coin has been published. It's just simple average that it shows and there is no fake values in there.

It does not manipulate the prices because it's not how it works and it has got no role as it is not involved in any kind of transactions. Come on open your eyes.

   

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March 25, 2018, 04:49:27 AM
Merited by richardsNY (1)
 #6

I think they are pretty one of the culprits in the manipulation of the market. Since they are receiving important data for each coin listed, they know when to "attack". So insiders have the benefit of getting as much as possible from the trading. And I'm also one that goes to cmc whenever I wanted to look for a good coin and check the prices thru their market tab.

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March 25, 2018, 12:55:00 PM
 #7

I think it's indicative of a sector that's growing too quickly. When they started it I doubt they planned to end up wielding the power that they do. And there must be so many shitcoin fans and developers hassling them to either list, or correct listings, that they may be overwhelmed.

Or they're profoundly evil. Either way it's not a good look.

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March 25, 2018, 03:02:23 PM
 #8

I agree with the wrong circulating supply.

One coin I was following has a wrong circulating supply detail on CMC. It was reported in the coin's Main Thread here and the team said that it was a mistake by CMC so they sent a request. That one wrong detail affects the Market Cap info as well (Market Cap = Price X Circulating Supply so meaning Wrong Circulating Supply = Wrong Market Cap).

CMC should prioritize updating the coin/token details with the true/accurate info as it was the main reason why people are using it. On the other hand, users should do some research as well, obviously, most people barely verify the data they see on the site with the coins dev/team, so most likely it would lead to a wrong decision.
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March 25, 2018, 04:23:42 PM
 #9

Some people already realize CoinMarketCap/CMC manipulate market (or play favorite), but mostly who realize don't care since they also don't care the fate of minor coins/token or only use CMC to see info on major cyptocurrency/token Roll Eyes
But there ways to stop this problem which are promote other cryptocurrency info website or/and boycott CMC.

I can't argue that this really happening and will always happen and continue to happen, as the 1 coinmarket cap site in google SERP and many people use this site as a tool for resources mostly on those new listed tokens or altcoin there so... manipulation is in there. Specially with this line "CMC literally decides which coin lives or dies with its own agendas"

BTW anyone can recommend for best alternatives for CMC based on your experience not on google.


Personally, i would recommend https://www.wetalkcoins.com/ since it also show news about cryptocurrency that you choose.

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March 25, 2018, 04:31:39 PM
 #10

Fraudulent data provided on CoinMarketCap distorts entire crypto-currency market perception

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

i think this is worth reading. especially because of this:

Quote
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.

i appreciate the work they have done by writing these posts.




They may have their reason although it is a scam but not directly but mostly scam lol. We can't deny they have the most successful listing for all the reliable sites that can be traded on any token/altcoins. I now for sure you rely on it too whoever read this. Let's be practical they have done their jobs but they deserve a second or an explanation to what is happening wether it's true or not.

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March 25, 2018, 04:39:40 PM
 #11

Fraudulent data provided on CoinMarketCap distorts entire crypto-currency market perception

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

i think this is worth reading. especially because of this:

Quote
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.

i appreciate the work they have done by writing these posts.




So never trust anyone blindly do your own research to keep our hard earned money to be worthful.But I saw an alternative to CMC fewdays before but I forgot to bookmark it now I have to search my histories now to find the name of the site.But it was really very good alternative to CMC and real time price updating no refresh is needed.I will place the link once I found it.Hopefully soon. Smiley

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March 25, 2018, 05:14:52 PM
 #12

What.!!

CMC is fraud. That's most unreliable data about the CMC and I would never ever believe in what is being said here. That's simple website with algorithm which extracts the information from most of the top exchangers and from all the exchanger in which specific coin has been published. It's just simple average that it shows and there is no fake values in there.

It does not manipulate the prices because it's not how it works and it has got no role as it is not involved in any kind of transactions. Come on open your eyes.
I think so to data is presented by the average and if one exchanges information does not get updated in good time then the result is incorrect data and sometimes CMC just delays to update certain information about a coin because devs incharge of their coin don't press cmc to make changes.




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March 25, 2018, 05:42:54 PM
Merited by richardsNY (1)
 #13

It's a noob website to start with. Everything related to these sites, and the same basically applies to crypto news sources; you see what THEY want/allow you to see.

In other words, everything should be taken with a truckload of salt, and I am sure that they do have a financial bias towards certain crypto currencies. It's impossible to actually prove anything from our side, but that doesn't change much in the end, which is that we always should do our own research before taking third party information for granted. We just have to accept that every entity in this market has its own hidden agenda motives, and they will do everything to book the results they are looking for, even at your cost. Get over it and move on.

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March 25, 2018, 08:38:01 PM
 #14

Fraudulent data provided on CoinMarketCap distorts entire crypto-currency market perception

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

i think this is worth reading. especially because of this:

Quote
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.

i appreciate the work they have done by writing these posts.




So never trust anyone blindly do your own research to keep our hard earned money to be worthful.But I saw an alternative to CMC fewdays before but I forgot to bookmark it now I have to search my histories now to find the name of the site.But it was really very good alternative to CMC and real time price updating no refresh is needed.I will place the link once I found it.Hopefully soon. Smiley
This is all we need where do price and other important informations is constantly updated.I have already pictured this out that manipulation can really happen since they do already in the position on where they can really possibly bribe projects to make their cap even more lower which I was actually surprised that this thing goes so far.We know CMC is being used mainly when it comes on checking out prices and now they are bust up, we don't know if those informations being not updated or just being putted on purpose.



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HAS BEEN RELEASED!


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March 25, 2018, 09:13:10 PM
 #15

It's a noob website to start with. Everything related to these sites, and the same basically applies to crypto news sources; you see what THEY want/allow you to see.

Can't agree more. In a way, all these services, because that's what they are in the end, are the root of a lot fud attacks and fake news articles, and they very well know how easily people believe everything they spit out, and aren't shy of abusing that authoritative position. I don't know if it is even possible to successfully sue individual services for spreading fake news and manipulation right now, but that might change with how this ecosystem is becoming more and more regulated. I remember how the community made it seem like a big deal when CMC decided to remove South Korean markets from the average market price. Like seriously, such a site can trigger that much panic? It was almost embarrassing to see.
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March 25, 2018, 09:23:53 PM
 #16

It's a noob website to start with. Everything related to these sites, and the same basically applies to crypto news sources; you see what THEY want/allow you to see.

Can't agree more. In a way, all these services, because that's what they are in the end, are the root of a lot fud attacks and fake news articles, and they very well know how easily people believe everything they spit out, and aren't shy of abusing that authoritative position. I don't know if it is even possible to successfully sue individual services for spreading fake news and manipulation right now, but that might change with how this ecosystem is becoming more and more regulated. I remember how the community made it seem like a big deal when CMC decided to remove South Korean markets from the average market price. Like seriously, such a site can trigger that much panic? It was almost embarrassing to see.
Whoever made that site was a price manipulator for their own agenda releasing such FUD or fake news. I wonder if one of those "whales" are doing it just because of his own personal interest but maybe i couldn't take it out of my mind since they were the most powerful person when it comes to manipulating something, i hope i'm not right but it seems to me that it hits them to their nerve.



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March 26, 2018, 11:16:16 AM
 #17

I have gone threw the whole article , the amount of information provided blew my mind , I do not know from where to start but we can bypass the first 5 coins mentioned in the article the difference off marketcap does not make huge change or effect the rank list but there is still some mistakes specially with BTC official site , it is a joke to leave it as BCH site .

starting from coin number 6 things started to get interesting the difference in circulating supply in some coins is huge and is for sure effecting the whole market specially for a coin like Stellar and the list  goes on and on .

I always go to CMC for info but never invested according to them , I always use the social media accounts for the coins I like and ask them the  questions by myself if I am to invest on a certain coin  .



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March 26, 2018, 07:41:12 PM
 #18

I also head this bad news but how to know if this is true ?
When i look on my primary Coins like BTC and LTC they allways showning the correct prize and charts .



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March 26, 2018, 08:12:30 PM
 #19

I have gone threw the whole article , the amount of information provided blew my mind , I do not know from where to start but we can bypass the first 5 coins mentioned in the article the difference off marketcap does not make huge change or effect the rank list but there is still some mistakes specially with BTC official site , it is a joke to leave it as BCH site .

starting from coin number 6 things started to get interesting the difference in circulating supply in some coins is huge and is for sure effecting the whole market specially for a coin like Stellar and the list  goes on and on .

I always go to CMC for info but never invested according to them , I always use the social media accounts for the coins I like and ask them the  questions by myself if I am to invest on a certain coin  .



Price and marketcap differences on top 5 coins is considerable which same as you said it doesnt really make an impact or whatsoever in the price but when we do tried to go further we can really see the differences of numbers into other top ranked coins. 6th onwards which isnt really right at all.If you are just basing on CMC on most of the time when you do make investment or trading then these numbers will affect you.We dont even know if these are intentional or not.


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bitcoin revo
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March 26, 2018, 09:26:54 PM
 #20

It's looking like another cryptocurrency giant is headed towards the door, unfortunately. Good find on the author's part. I agree with 1Referee - it's a design that just invites manipulation - but it doesn't change how harmful it is. Besides, it's arguably considered a "trustworthy" site and since that's where new traders are continually directed towards, we've got a major problem on our hands.



I also head this bad news but how to know if this is true ?
When i look on my primary Coins like BTC and LTC they allways showning the correct prize and charts .



regards

Taking a look at the link article instead of reverting back to your own experiences with two huge cryptocurrencies would be helpful in your case, but I'll wrap up a few examples of how CMC is (potentially) misinforming their audience for their personal gain - directly from the first article linked:

Allowing and even encouraging pump and dumps
Quote
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.

"Killing" coins based on their own gain
Quote
How does it “kill” a coin? Well, it removes its 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.

Outdated info
Quote
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)

These are all targeted towards the smaller coins, the ones that they can safely manipulate (to small degrees, still). Misinformation isn't just a price change on CMC with BTC, ETH, or LTC - those would immediately oust CMC to an uncomfortable position.
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