Coin Market Cap SCAM!!!

[rivkavender]

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?

[richjohn]

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.

[Colorblind]

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...

[DerekVazz]

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 CMC is a really outdated resource!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!

[AdSkull89]

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!

[DerekVazz]

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.

[bob123]

Does anybody know a similar website but with better features?

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

• https://www.livecoinwatch.com/
• https://coincap.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.

[DerekVazz]

Does anybody know a similar website but with better features?

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

• https://www.livecoinwatch.com/
• https://coincap.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.

[rivkavender]

Does anybody know a similar website but with better features?

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

• https://www.livecoinwatch.com/
• https://coincap.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.

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

[suzanne5223]

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.

[rivkavender]

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?

[Pursuer]

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.

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"!

[MXgirl150]

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

[solarion]

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?

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

[bL4nkcode]

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

[Joel_Jantsen]

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.

[carlfebz2]

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.

[GoldenLad]

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.

[cydrix]

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.

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.

[entrepmind23]

Does anybody know a similar website but with better features?

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

• https://www.livecoinwatch.com/
• https://coincap.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.

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.