ðºÞæ
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Bitcoin © Maximalist
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March 30, 2019, 07:40:41 AM |
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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.
The coinmarketcap nemesis https://openmarketcap.com/clear as https://openmarketcap.com/exchanges/difference |
"The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling." Satoshi Nakamoto, April 2009 Avoiding taxes is totally legal if you consider and respect the law.
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Beerwizzard
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March 30, 2019, 08:08:15 AM |
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Even the real volume can be faked by exchange administration in a pretty realistic way. What stops them from buying and selling BTC? They will even get back their fee. So if they, for example, sell 1mln $ worth of BTC and afterward buy back the same amount of Bitcoins then they would get 2 mln$ of volume. And how would we figure out if the volume is real in that case?
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pinoycash
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March 30, 2019, 08:53:28 AM |
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Even the real volume can be faked by exchange administration in a pretty realistic way. What stops them from buying and selling BTC? They will even get back their fee. So if they, for example, sell 1mln $ worth of BTC and afterward buy back the same amount of Bitcoins then they would get 2 mln$ of volume. And how would we figure out if the volume is real in that case?
Their API will show that 1 Million USD worth of buy, So that's not the way their do their wash trading to increase volume. they can easily make a bot that will trade in their exchange to buy/sell BTC at varying amount so it wont be pick up by CMC as fake volume. |
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aioc
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March 30, 2019, 10:08:57 AM |
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They will eventually exposed, and this is not good for Bitcoin and cryptocurrency supporters we have been feed with lies all these years, so what's going to happen now, that this means that we are a long way from a real bull run because of this fake volume and trading statistics.
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Ipwich
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March 30, 2019, 10:40:49 AM |
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I'm glad all the exchanges I am using are not faking it's volume.
Well, binance is already given a decent exchange and they don't need to cheap as they are the no. 1 IMO.
Those exchanges who are faking their volume, can also manipulate the price, and therefore they should not be trusted by traders.
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akamit
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March 30, 2019, 10:54:00 AM |
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Oh boy, this is one of the shitty marketing strategies and now those exchanges should get busted. Some people never realize that they will get caught someday and their business will get a huge negative impact. Traders should stick with those top 10 exchanges only. |
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mayax (OP)
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Activity: 1470
Merit: 1004
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March 30, 2019, 10:56:48 AM |
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Most of the so called "clean" exchangers are licensed.  Yes, 95% from BTC trading is fake. That means the market is small and it's not like the Bitcoin media present it... |
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creeps
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March 30, 2019, 11:09:48 AM |
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Sad to say that there is really a fake volume on bitcoin but of course its not just bitcoin but also most of the coins who are on the fake volume right now. I don't why most of the exchanges are doing this but its clear that they are trying to encourage more traders into their platform. The real value will still prevail in time, and even if a lot of manipulators trying to deceive investors bitcoin will still be a great coin to buy for. |
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vucuong16101997
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Activity: 308
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March 30, 2019, 11:14:40 AM |
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It's sad to talk about this. But if you look at the strategy of the exchanges, it is a way to attract people to participate in this market. I think the virtual volume will be limited when the level of reputation of the floor increases and the participation of many investors.
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Artemis3
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Merit: 1573
CLEAN non GPL infringing code made in Rust lang
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March 30, 2019, 12:26:31 PM |
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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.
The coinmarketcap nemesis https://openmarketcap.com/clear as https://openmarketcap.com/exchanges/differenceEr... you need tokens to nominate a "trustworthy" exchange and more tokens to challenge them?  I don't think this is going to end good... |
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Erickan
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March 30, 2019, 12:45:35 PM |
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I just read this news a few days ago, I was also surprised because the daily trading volume on CMC was billions of dollars. But the real number is about 250 millions dollars.  CMC has also acknowledged that their statistics include a lot of fake transactions and they promise to fix them, in fact fake transactions are no longer new to this market. Most of the reputable exchanges have real trading volumes like Coinbase, Bitfinex .. all operate in the US. These exchange platforms are strictly controlled by the US government, so the trading volume will match with the report they give.  Most exchange platforms will counterfeit trading volume, to attract users and increase listing fees for projects that want to list on their platform.Since then, this market still has a lot of things to do, must be purified before it is stable and long-term recovery. And based on the above evidence, it can be seen that 2017 is all about market manipulation, I never thought Bitcoin was really priced at $ 20,000 at that time. Reference source: https://twitter.com/Bitwiseinvest |
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Johnzky
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March 30, 2019, 01:41:38 PM |
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THis is not about the image of bitcoin instead the image of those greed people behind this Coinmarketcap and I believe that this has being politicizing from the rich people behind this great exchange in the past but now CMC is losing the battle and their popularity is now at stake.in rhe matter of year or two for sure CMC will fall and another great exchange will take place |
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Chris!
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March 30, 2019, 05:18:46 PM |
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Most of the so called "clean" exchangers are licensed. Yes, 95% from BTC trading is fake. That means the market is small and it's not like the Bitcoin media present it... Yeah but I wouldn't trust any exchange or business that decided to give into a Bitlisence. You do know that those exchanges are basically banks, right? All of your KYC is handed over right away, even if you don't live in New York. Honestly, fuck that. I'm not American and I don't need the American government looking through my KYC documents for no reason at all. This narrows the exchanges down significantly, but at least there are still decent options. |
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r1a2y3m4
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Match365> be a part of 150BTC inviting bonus
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March 30, 2019, 05:46:55 PM |
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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.
I saw one of this thread saying that CMC are just posting fake volume and that exchanges are paying CMC just to fake the statistics that shows. Do you know any other list that lists coins and active markets like CMC? But legit? |
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BestSSS
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March 30, 2019, 07:33:44 PM |
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All exchanges to improve their rating launch bots and thus wind up trading volumes. This is done to be noticed and real people began to trade on them.
Many bloggers talk about a significant increase in demand for bitcoin and indicate an increase in trading volume but in fact trading volumes are 10 times less because the volume is fake.
there are only a few exchanges who more or less shows their real trading volumes Is Binance, Kraken, bittrex, coinbase.
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mayax (OP)
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March 31, 2019, 01:33:30 PM |
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the reality is that there is a very low demand of BTC. it's a little niche market and few "whales" who own a lot of BTC...are interested to get stupids to "invest"(to buy BTC from them) |
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JeromeTash
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Heisenberg
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March 31, 2019, 01:51:36 PM |
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This is not news. There is a lot of wash trading going on in different exchanges to hype up the daily trade volume if you look very closely at those exchanges.
It's so sad that manipulation is getting to the peak in crypto space yet the idea behind crypto was to fight the corrupt systems and manipulative centralized bodies.
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bxipp
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March 31, 2019, 04:30:30 PM |
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the reality is that there is a very low demand of BTC. it's a little niche market and few "whales" who own a lot of BTC...are interested to get stupids to "invest"(to buy BTC from them) The reality is it depend on those "stupid" to buy bitcoin from the whales it self and in hope to make a good investment in the end which i think now is the good time for doing it. Who doesnt like easy money can being made by just holding bitcoin. We all are waiting for bitcoin to spike again right? |
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santiPOGI
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March 31, 2019, 04:42:42 PM |
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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. They all think and know that the volume will give you higher ranking on coinmarketcap. I noticed it before in may tokens listed on certain exchange. the buy and sell is not stopping though the walls are not moving. Also, ICO team is part of this as they can also benefit on this as their daily volume will increase. |
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Indamuck
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March 31, 2019, 04:56:07 PM |
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This has always been common sense to me. Until there are very serious regulations this kind of crap will continue. This is one of the ways people get suckered into buying shitcoins, they see millions of dollars worth of daily trading volume just to find out they purchased a coin that is very hard to liquidate.
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