Ben_Cryptopolitan (OP)
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October 08, 2019, 09:04:44 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
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1Referee
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October 08, 2019, 10:16:10 PM |
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How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
We never had problems attracting new money. It just comes down to how the price of Bitcoin behaves. In Q2 of this year there was a lot money flowing into the ecosystem, which contributed to the massive increase we have seen. Fact of the matter is that capital enters when the market moves up. Currently the price action is so boring and bearish, that money is leaving the market. Exchanges such as Bitforex will continue to wash trade, even when no one is using them. It's impossible to prevent them from doing so. The only thing you could do is start a petition to have index sites such as CMC remove them from their site. It would significantly reduce the exposure of exchanges like Bitforex.
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ololajulo
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October 08, 2019, 10:28:02 PM |
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I never saw the altcoins' dump as centralized exchanges' fault although wash trading is very bad for the market as a whole. The dump of altcoin for bitcoin at the beginning of the year was just FOMO, we cant consider it the worst crypto decision in long run if some highly rated altcoins never got their rally until bitcoin's bull run.
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figmentofmyass
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October 08, 2019, 10:36:04 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely? nobody cares about the volume numbers on no-name chinese exchanges. anyone who has been around this space longer than a few months knows the numbers are bogus. and how is wash trading "dropping the prices of tokens unnaturally"?
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alyssa85
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October 08, 2019, 10:59:21 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
Manipulation only really works when the trading volume of a coin is low - that way you only need a little money to move the price. Once the trading volume for a given coin is huge, it's hard to manipulate because you need loads of money to do it. So the answer is build your community, make sure your coin is popular which results in large trading volumes for it - and the manipulation diminishes.
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minairia3
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October 09, 2019, 12:29:28 AM |
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Why the blame only to centralized exchange? I think many traders also known as whales are the most and suspects for doing wash trading and manipulations. I'm not saying big exchanges arent doing wash trading but, tokens are just meat market peer and we know how can these tokens be so volatile without even manipulations especially those low volume tokens or unknown projects.
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Coin_trader
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October 09, 2019, 12:34:44 AM |
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How can we stop centralized exchanges from manipulating the price of tokens As the word "CENTRALIZED exchange" itself, we already know the problem and solution, As a normal trader on that exchange then we can't do anything about it. The only solution to stop this wash trading is to regulate exchanges which are the SEC pursuing right now. You can notice that many famous exchanges dodging it which results in changing the location of there headquarters. Only regulators can stop this dck heads on manipulating price and volume of this retard exchange such as binance, huobi and many more.
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Wexnident
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October 09, 2019, 01:41:39 AM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
New money would naturally attract itself to the market since that's how basically the market works. As for manipulation of exchanges, I'd doubt those core coins could easily be manipulated. If it ever was, the community could easily observe and determine what is happening and report those exchanges while giving them negative ratings. As for those coins with low participating community, exchanges would naturally nanipulate them for their own profit.
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perla
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October 09, 2019, 02:06:41 AM |
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Will be very hard maybe. Because people will keep to use that kind of exchanges. I think maybe need power from big people so exchanges not have a lot of volume trading anymore, or maybe rules like restriction for US people happen in a lot of countries. But i am not resist if i will stay to use that exchange because easier to use.
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jmigdlc99
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October 09, 2019, 02:07:52 AM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
It's true. These exchanges only want to rise in rankings so thats why they fake volume. Because really, there are very few people who continue to trade altcoins today especially in this bear market. The only thing i see that we can do is continue to support and promote crypto towards the goal of seeing mass adoption grow. Only when mass adoption grows only then will these manipulators be hard pressed because the cost of manipulation will be too much.
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ashmodeus
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October 09, 2019, 04:12:26 AM |
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Manipulation only really works when the trading volume of a coin is low - that way you only need a little money to move the price.
Once the trading volume for a given coin is huge, it's hard to manipulate because you need loads of money to do it.
So the answer is build your community, make sure your coin is popular which results in large trading volumes for it - and the manipulation diminishes.
in this cases, of course there are people who are harmed because of that. and then , they claimed altcoins just a piece of scam. whales alliance create a quick pump, then after they see many people got baited, they sold all their coins then price back to normal. for example , we can see binance have a dialy pump with low volume trading. --- in altcoins world, there a many many coins/tokens created,also for god sake,too many exchange rather than coins/tokens. hard to avoid manipulation or something like that. i dont think it can be stopped,well ,its a free market.
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slaman29
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October 09, 2019, 08:50:16 AM |
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So what? If you involve yourself with a project whose tokens are listed on exchanges open to manipulation, or if you yourself are a project owner or community member who all fought to get your token listed, then what else would you expect?
You think speculators list their tokens and owners list their tokens, and don't want to themselves take advantage and sell at the top and exit before the dump?
They're only mad at price manipulation because THEY didn't get to exit in time.
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The Cryptovator
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October 09, 2019, 09:43:54 AM |
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We can't stop manipulation actually. Because we are not who are involved with manipulation. Centralized exchanges means it's free for manipulation. If you have big amount of btc then you might also manipulate a specific altcoin. So we have to forget about manipulation, it can't be stop. But we might get benefit from that if we are really a good crypto player. Don't go against of manipulators whoever that's. Never mind even manipulate by exchange, just don't go against it.
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magneto
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October 09, 2019, 12:48:14 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
We can't. Wash trading is going to continue to happen regardless of what users do. All that we can do is look out for obvious signs as traders, and simply stop using exchanges that demonstrate shady behaviour like wash trading, faking volumes, and manipulating or propping up token/coin values. There is nothing else within our power that can be done, really. The signs are not always that obvious either which makes it much more difficult. It's just something that you have to live with really anytime you use a centralised exchange, that statistics may be fixed and so may the markets.
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Kupid002
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October 09, 2019, 01:34:54 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
This bitforex is just faking a volume of a token, if a project dont want to have a fake trade then forget about listing with that exchange. I know how this exchange manipulating volume of every new listed token/coin to thier exchange you can easily notice because of only few buy orders.
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NathanJB
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October 09, 2019, 01:37:17 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
This will only affect shitcoins so it does not matter to me whether these shit exchanges will wash trade shitcoins. Let shits manipulate their fellow shits. Even if they manipulate and manipulate, they can never manipulate the prices of Bitcoin, ETH, XRP, LTC, and so many other top coins. And also sooner or later, nobody will trust them anymore. And with so many other options in the market, they cannot be a loss to the traders. They will eventually shape up or die.
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Javi_Anibarro
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October 09, 2019, 03:08:37 PM |
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We are helpless regarding manipulation because we do not have a power to stop it, there is no way we can forbid everyone to make a trade in the exchange to prevent the exchange from getting manipulated. and about Bitforex and Bibox, we can do something to them like reporting to the law about their dirty trick or spread the news about their activity. we can not stop manipulation because as long as someone has attention to do that, manipulation will always happen. use this form to report them: https://www.cftc.gov/ConsumerProtection/FileaTiporComplaint/CDFfileTipComplaint.html
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Jating
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October 09, 2019, 03:18:01 PM |
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While everyone keeps have individual opinions and speculations on the next prices of cryptos, especially on the next altcoin season, I'll say we are moving nowhere because of price manipulation by exchanges. The actions of some exchanges is dropping the prices of tokens unnaturally and these affects market and industry confidence. How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
I don't think that we can formulate something to really attract new money in the market. I guess the market cycle will eventually caught on us specially when the bull run starts on alt market. You will be amaze on the poor judgement and irrational buyers in a bull run, believed me. I don't need to add links to prove, but just google these exchanges and add the wash trading to your search term, you'll be marvelled at the results you'll find.
A good link to start with: https://www.bti.live/
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Ben_Cryptopolitan (OP)
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October 10, 2019, 04:30:30 PM |
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How can we attract new money into the market when top wash trading exchanges like Bitforex and Bibox still exists and deceives people freely?
We never had problems attracting new money. It just comes down to how the price of Bitcoin behaves. In Q2 of this year there was a lot money flowing into the ecosystem, which contributed to the massive increase we have seen. Fact of the matter is that capital enters when the market moves up. Currently the price action is so boring and bearish, that money is leaving the market. Exchanges such as Bitforex will continue to wash trade, even when no one is using them. It's impossible to prevent them from doing so. The only thing you could do is start a petition to have index sites such as CMC remove them from their site. It would significantly reduce the exposure of exchanges like Bitforex. That is a nice move, however, this is crypto. People won't care much about a fraudulent exchange.
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