Coin Market Cap SCAM!!!

[WaffleMaster]

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?

[Slow death]

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?

This is a very serious case:

By listing falsified Circulating Supply, CoinMarketCap has the power to decide which coins “win” and which coins “die”. An incorrect Circulating Supply upwards is in the favor of a coin, and brings much higher rates of user attention and positive media exposure with the increased market capitalisation and higher ranking. An incorrect Circulating Supply downwards in number, drains the coin of volume, trading, market attention and eventually leads to its death. If correct (or at least much closer to correct) data for Circulating Supply was shown for a lot of the coins we examined, this list would look quite a bit different. Some coins would move dozens or even hundreds of spots up or down if it was not for the fraudulent data shown to users on CMC.

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.

[rivkavender]

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

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!

[Sadlife]

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.

[Mr.Dick]

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.

[WaffleMaster]

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.

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.

[minthit]

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?

[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.

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

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.

[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

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!

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

[Shikaina]

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.

[cydrix]

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 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 .

[bitcoinblog]

All are cashing there popularity.

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

[Commie]

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?

[Arkham Knight]

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.

[rivkavender]

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!!!

[richardsNY]

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.

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....

[rivkavender]

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.

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

[partysaurus]

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.

[rivkavender]

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

[WaffleMaster]

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?

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.