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Author Topic: 95% fake volume :)  (Read 987 times)
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March 29, 2019, 03:48:42 PM
Merited by richardsNY (1)
 #1

https://www.coindesk.com/fake-volume-on-crypto-exchanges-isnt-the-half-of-it

this shows the real image of BTC.
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March 29, 2019, 04:33:12 PM
 #2

this shows the real image of BTC.

It more of shows and confirms the real colors of those exchanges that fake their trading volume just to show up higher on the Coinmarketcap trading pairs and to show up higher on exchange rankings by trading volume.

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March 29, 2019, 04:39:05 PM
Merited by LoyceV (1)
 #3

Ohhh, springs, bears are coming out.....

I don't see anything shocking there, I always thought those volumes are fakes and I always said CMC, as well as the market cap indicator, is pure garbage.I just hope people will stop trading on those shitty exchanges and stop looking at CMC and believing everything there.

Add that contrary to those reports I think Binance is cooking the books big time also.



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March 29, 2019, 04:41:57 PM
 #4

And due to this, regulators would then come up with a new regulation that will apprehend exchanges who fake their volumes in order to lure customers into their platform. This could fall right under market manipulation and/or deception and could lead to jail time for exchange operators. I think it's about time that regulators really step in and make these exchanges report actual true volume on their platforms as a lot of people are becoming victims of fake volumes resulting into funds not being liquidated immediately and some being victims of "hacked" exchanges.




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March 29, 2019, 05:24:59 PM
 #5

And due to this, regulators would then come up with a new regulation that will apprehend exchanges who fake their volumes in order to lure customers into their platform. This could fall right under market manipulation and/or deception and could lead to jail time for exchange operators. I think it's about time that regulators really step in and make these exchanges report actual true volume on their platforms as a lot of people are becoming victims of fake volumes resulting into funds not being liquidated immediately and some being victims of "hacked" exchanges.

You spoke part of what is inside of my mind. And really, it is possible.
Exchanges are not like anonymous, they have presence and so they can and should be regulated to avoid falsification of data so that the real performance of a project is open to anybody who wants to invest to see what they are putting money in. I think it is very fair that way.

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March 29, 2019, 06:06:26 PM
 #6


this does not show the real image of bitcoin, it shows the dishonesty of a certain group of companies that want to be at the Top at the expense of dirty and condemnable methods. Bitcoin is not to blame for anything. But this was already expected because this market is not regulated and constantly supervised. which makes me more shocked is know that we have to do KYC on sites where the owners are anonymous

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March 29, 2019, 06:22:46 PM
 #7

Chinese exchanges were faking volume since they entered the market and there was a shitstorm where their government intervened and shut most of them down in 2014. Some moved to Hong Kong. Do you believe they simply abandoned their old tactic and played fair from that moment? There are exchanges that play fair and those that don't.

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March 29, 2019, 06:58:42 PM
 #8

Chinese exchanges were faking volume since they entered the market and there was a shitstorm where their government intervened and shut most of them down in 2014. Some moved to Hong Kong. Do you believe they simply abandoned their old tactic and played fair from that moment? There are exchanges that play fair and those that don't.

Exactly, even prior to the eventual bull-run, Chinese exchanges have been faking their volume, caught by their government, suspended and then an eventual shutdown.

There are one reports that I'm aware of saying which exchanges have been practicing wash trading. Here, https://www.blockchaintransparency.org/. So this is well-known already, and as much as we have those exchanges doing it, perhaps the best thing to do is stay away with them. And it doesn't mean that BTC itself is fraudulent though. It's just this is a free market, and everyone takes advantage of every situation they can get their hands and make money, sad but true.

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March 29, 2019, 07:08:42 PM
 #9

Sooner or later Coinmarketcap will be replace by a more transparent and unbiased and 100% more dependable Coin Listing Platform.

Until they de-list or exclude all those exchange that practice wash trading to inflate their volume we cannot see the real picture of the overall health of the cryptocurrency market.

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March 29, 2019, 08:28:05 PM
 #10

2 days ago Coinmarketcap concedes about their fake volume was valid and now Coindesk made an article about the 95% fake volume of exchanges, since I started doing some Bitcoin and cryptocurrency stuff in general I always use CMC on a daily basis in looking for the right price of different cryptos but knowing nowadays that its information isn't accurate at all was just so frustrating, it seems like it's all about business after all and we can't do nothing about those numbers whether it's true or not for as long as they're getting traffics and make profits from their advertisement.
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March 29, 2019, 10:01:18 PM
 #11

this shows the real image of BTC.
Why BTC?

I think the by far bigger part is related to the shitcoin business. Exchanges can make very good bucks from listing new shitcoins and it's now the time that most new shitcoins from 2017/2018 hype are getting listed. So no surprise that exchanges want to be attractive for the shitcoin-CEOs to be listed on high-volume exchanges. They will just sell the news that they are listed on a TOP-10 exchange.  Tongue

And the flood of new exchanges is showing one thing: it's profitable to launch new exchanges, fake the trading-volume and list the shitcoins - the easiest way to get attention from ICOs and investors is to fake their trading volume to be mentioned on coinmarketcap.
But I'm sure that won't last long. There will be a point of time when all hype-ICOs have no money anymore and new ICOs have problems already to raise funds. Long-term the revenues for new listings on exchanges will decrease. Most exchanges will collapse like ICOs nowadays if there is no new hype soon.

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March 29, 2019, 10:44:42 PM
 #12


No, if anything it would be "the real image" of some crypto exchanges...

Note that the article is actually commenting on this report. Take a look by yourselves:

Bitwise Asset Management
Presentation to the U.S. Securities and Exchange Commission
March 19, 2019

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March 30, 2019, 04:24:51 AM
 #13

Why did they do that? Is it to lure the popes to return to investing in the Crypto market. That is in my view. Maybe yes maybe not.
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March 30, 2019, 04:28:15 AM
 #14

this shows the real image of BTC.

It more of shows and confirms the real colors of those exchanges that fake their trading volume just to show up higher on the Coinmarketcap trading pairs and to show up higher on exchange rankings by trading volume.

it also shows that every now and then people find some nonsense to exaggerate and link it to bitcoin to try and complain about. it seems like yesterday where they were complaining about bitcoin's energy usage/wastage every day you opened bitcointalk or basically looked on any other site specially new sites. now that that news has gotten old and overused they have found a new one!

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March 30, 2019, 05:09:22 AM
 #15

Two important things comes from this article, " All exchanges in the report are registered Money Services Business with FinCEN, except for Binance, which makes up by far the most – 40.47% of the total “actual” crypto volume traded. " <So they should be under close scrutiny.. right?>

And... " According to the Blockchain Transparency Institute, the exchanges with the least amount of faked volume are Binance and Bitfinex. Yet these exchanges lack normal banking relationships and are supported by an unregulated stablecoin.>

The emmidiate question that comes to mind is this, "Is regulation really that reliable then? or is this a better platform to manipulate markets"  Huh



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March 30, 2019, 05:20:12 AM
 #16

The emmidiate question that comes to mind is this, "Is regulation really that reliable then? or is this a better platform to manipulate markets"  Huh

that's what ironic. at one point regulation should exist to protect manipulation, but at the current market condition, the exchange with the most actual volume is not regulated. in my opinion, maybe that happens because lots of traders perceive Binance as the market leader, so they tend to trade over there instead of other exchanges.
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March 30, 2019, 05:24:16 AM
 #17

that's what ironic. at one point regulation should exist to protect manipulation, but at the current market condition, the exchange with the most actual volume is not regulated. in my opinion, maybe that happens because lots of traders perceive Binance as the market leader, so they tend to trade over there instead of other exchanges.

And ho would regulate the exchanges? Other exchange fakes those volumes to deceive traders and traders should perceive the exchanges that release fake volumes.

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March 30, 2019, 05:43:15 AM
 #18

that's what ironic. at one point regulation should exist to protect manipulation, but at the current market condition, the exchange with the most actual volume is not regulated. in my opinion, maybe that happens because lots of traders perceive Binance as the market leader, so they tend to trade over there instead of other exchanges.

And ho would regulate the exchanges? Other exchange fakes those volumes to deceive traders and traders should perceive the exchanges that release fake volumes.

The government will regulate the exchanges, who else? So you don't have to follow those exchanges and only stick with the exchanges that have the actual volume.

I am sure that in the end, the government will get in the exchanges and they will make a regulation for the exchanges.

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March 30, 2019, 06:37:35 AM
 #19

this shows the real image of BTC.

actually this shows the narrow way of thinking of certain people like you who think bitcoin is only some token that exists on exchanges and has no other purpose than being traded on exchanges and nothing else! so obviously you should think if exchanges do something wrong it reflects on bitcoin!!!

EMPTY
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March 30, 2019, 07:26:26 AM
 #20

This is very helpful in knowing information and knowing the original description of BTC so far looking for this picture has not yet been found

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