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Author Topic: SOS.BInance going to adquire coinmarketcap - crypto MONOPOLIZATION on way  (Read 677 times)
stompix
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May 15, 2020, 08:13:43 AM
 #61

I really wonder why they did that, it is pretty stupid, especially since they've changed the algorithm, and now if you sort by volume Binance is on top with double the volume as others so they could have made that default.
One interesting fact is that Coinbase now is second based on the"web" factor.

To be completely honest, I doubt that if we count anything from articles, links, tweets, and traffic anyone could compete with Binance at this point, it's the newbie gateway right now, especially with their no KYC for under 2BTC rule.

Of course, it's biased but I'm still thinking it's better than what we had before, remember how the top10 looked before?


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shield132
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May 15, 2020, 11:02:11 PM
 #62

I really wonder why they did that, it is pretty stupid, especially since they've changed the algorithm, and now if you sort by volume Binance is on top with double the volume as others so they could have made that default.
One interesting fact is that Coinbase now is second based on the"web" factor.

To be completely honest, I doubt that if we count anything from articles, links, tweets, and traffic anyone could compete with Binance at this point, it's the newbie gateway right now, especially with their no KYC for under 2BTC rule.

Of course, it's biased but I'm still thinking it's better than what we had before, remember how the top10 looked before?


I wonder too, btw want to remind that Coinmarketcap is far more popular among people than Binance (according to Alexa).
The most curious thing that I want to quote Eric Benz is, following:
Quote
On the one hand, it might appear to be a one-sided deal, but on the other, it shows just how important crypto market data is
Yes, of course, crypto market data is very important from them but it doesn't directly mean that transparent data is important from them. In any way, it's clear that Binance is going to boost its profit by making this step.

Eh, as time goes I am becoming more and more sure that Bitcoin isn't what it was years ago, it's becoming commercial business.

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bbc.reporter
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May 16, 2020, 12:09:01 AM
 #63

@stompix. Agreed. It might be better for the credibility of coinmarketcap.com to show the real raw volume together with the adjusted normalized volume similar to coingecko.com.

I reckon Changpeng Zhao has shown a similar type of craftiness as his friend Justin Sun hehe.



But the data provider hasn’t just changed its stance on using web traffic, it has also removed an indicator it created in July 2018 designed to provide more accurate data, and weed out wash trading.

Source https://decrypt.co/28924/coinmarketcap-removes-evidence-of-wash-trading-on-binance

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assa1979
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May 16, 2020, 11:30:04 AM
 #64

I really wonder why they did that, it is pretty stupid, especially since they've changed the algorithm, and now if you sort by volume Binance is on top with double the volume as others so they could have made that default.
One interesting fact is that Coinbase now is second based on the"web" factor.
To be completely honest, I doubt that if we count anything from articles, links, tweets, and traffic anyone could compete with Binance at this point, it's the newbie gateway right now, especially with their no KYC for under 2BTC rule.
Of course, it's biased but I'm still thinking it's better than what we had before, remember how the top10 looked before?
I don't want to remember honestly
It represents the situation quite good right now - binance and coinbase both are gateway for newbies out there and they doing a good job, basically anyone who wants to know more about security will leave them one day, but they are comfortable to start with
Finestream
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May 16, 2020, 11:33:26 AM
 #65

Eh, as time goes I am becoming more and more sure that Bitcoin isn't what it was years ago, it's becoming commercial business.

They know what they are doing, they are expanding, they are not only focus on their exchange but they are acquiring other business and platform to grow their business, for investors, they should be happy with the action of Binance, at least they are spending the huge profit of the exchange in improving their business.

Binance is always centralized, even their DEX are centralized, lol.. but we can see the love of the investors, they are all in support with Binance decision while others who are no on board yet are just watching so amaze.

stompix
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May 19, 2020, 09:30:59 AM
 #66

I don't want to remember honestly

Hihi, since you mentioned that, and also because I was curious also, I looked at a cached page
While the volume has picked up 20%, most of the known fakers are losing millions in daily volume, probably because it makes no sense anymore to brag about it.

Pretty interesting, this is 2018
http://archive.vn/KIPK3
This 2019:
http://archive.vn/K825i

Apart from Binance which went from 2nd to 9th place, nobody has been able to keep up with the volume pumping some had done.
So, in the end we have newbies going to binance instead of P2PB2B or Lbank, no matter how you look at it I say it's a good thing.

@stompix. Agreed. It might be better for the credibility of coinmarketcap.com to show the real raw volume together with the adjusted normalized volume similar to coingecko.com.

Well, Binance is still the number one even on Coingeko both by volume or their new indicator "trust", so...
Besides, the trust on Coingeecko shows both Okex and Huobi as perfectly trustable, and let's not forget, they are the fathers of volume faking

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