Forbes claims that more than half of Bitcoin trade records are fake

[tbct_mt2]

The trading volume for btc is increasing day by day on individual exchange, of a truth their are exchanges which manipulate trading volume on their exchange to draw the attention of traders, exchanges like Finexbox

There is a report about wash trading volume and bad exchanges in the past but I don't consider what you shared is good because Finexbox is a bad exchange and you can not use it to generalize about crypto exchanges.

Report: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf
Bitcoin Volume Validator: https://github.com/Whalepool/Bitcoin-Volume-Validator

[piebeyb]

actually if we look at some exchanges i think everyone will think the same as you seeing weird trades, because there are too many bots making fake trading volumes, not only on finexbox but also some other sites doing crazier things than finexbox, so volume Fake trading actually has been around for a long time, it's just that it's only been exposed now

[Ever-young]

The trading volume for btc is increasing day by day on individual exchange, of a truth their are exchanges which manipulate trading volume on their exchange to draw the attention of traders, exchanges like Finexbox

but I don't consider what you shared is good because Finexbox is a bad exchange and you can not use it to generalize about crypto exchanges.

What I shared  was not in favor of Forbes claim, I only made a reference that Finexbox is a bad exchange with manipulated trading volume, but it does not prove all other exchanges are same. In conclusion we are all in the same side proving that Forbes is wrong with their analysis saying 51% of btc daily trading volume is fake

[South Park]

I'm not sure about half of the trade records are fake but I believe that some exchanges had faked their taking volume in order to attract more traders to join. I'd see this most in non-reputable exchanges and much more for scam exchanges. I'd see how devastating it was and ruining the trust of the people and this make some to felt worried and doubtful. This kind of trick is very known to us now but this would never win as long as we've done the research, we still found them who manipulate the records.

We have known for a long time that many exchanges inflated their volume numbers in order to appear more popular to potential customers, however it is difficult to believe so much volume is being faked, maybe what is happening is that the top exchanges are not inflating their numbers or do so only slightly while small exchanges inflate their volume so much to the point of representing roughly half of the total volume, but even this interpretation seems like a reach to me.

[famososMuertos]

What source does one hang on to in the figurative sense?... third-party information should have value in contrast to our previous information, especially on the economic issue and even more so in crypto.

Then we have an article that treats a info as a truth or fake and such a thing is not entirely true but that does not take away from bitcoin the category that it has in the largest volume of the most important cryptos.

 Forbes once named Escobar as one of the richest men in the world, even they has done so with other drug traffickers, where do I get that data from?

[Sodiumdicromate]

There are some exchange that manipulate trading volume but I don't believe everything about the forbs publishing, any one can wake up one day, make some few research and off they go, they are in the press to publicize.

  I recently read on the news publication about a computer scientist who claims to be the unknown Satoshi Nakamoto the  Bitcoin inventor. Owing to that fact, I can't believe even 50% of the claims made by forbs about the trading volume for Bitcoin in exchange like binance, MEXC , bybit having phoney volume.
 
 Bitcoin has a limited supply of 21,000,000 with circulation of about 18,925,000 and there are over millions of people buying Bitcoin on a daily and Monthly basis, that's why I believe Bitcoin trading volume is not just manipulative by mentioned exchanges

[XZERO1]

It is true that REPORTED volume on most exchanges are fake volume and is just wash trading, whether it's Bitcoin or altcoins.

I mean look at this thing:



Exchanges like Bkex, AAX, Coinsbit and the other ones that no one really uses them siting at the top of the 24h volume ranking, same thing goes for most altcoins if not all, but I don't think that devalues what crypto is doing or discredits Bitcoin in any way, this is an unregulated market after all and these stuff are to be expected.

[mindrust]

That’s probably true because it is a child’s play for the exchanges to fake trading volumes. They can do wash trades with their infinite imaginary dollars and coins. Who’s going to tell if the trades happening on that exchange were legit or not? How is he going to decide? I think almost every exchange does this to an extent but newly established ones are especially going to abuse it fully.

[uneng]

Forbes is just speculating. They think more than half of bitcoin trade records are fake, but can't show any proof.

On the other hand, I don't blindly trust exchanges, consequently I can't deny it's possible to fake transactions to raise volume in the market for different purposes, being the main goal market manipulation. In this case, to create a bullish athmosphere, so exchanges can keep most traders and investors as possible active in crypto market, what is good, necessary and essential for their businesses.

[2stout]

Sounds like Forbes pulled this out of their ass like Twitter came up with their bot numbers.  I can't see much more purpose than FUD from them to spew such things, old institutional money asses.

[suzanne5223]

More Than Half Of All Bitcoin Trades Are Fake
How on earth will they believe that.

I believe this message was posted on Forbes just the cause FUD in the market. Yes, there's some fake trading happening on some crypto exchanges but the statement "half of all Bitcoin traded is fake" is just a lie.
Meanwhile, there's no fake trade on tier1 and 2 CEX now since the SEC seems to be interested in their activities but inside manipulation is common this day.
In the meantime, I hope the exchange that fake volume and do inside man job will stop their greed activities so the crypto market will be fair.