CoinMarketCap is accused of extortion!

[zasad@]

https://twitter.com/ergo_platform/status/1719163379380629540
"After over a year of requests attempting to get the #Ergo information corrected (circulating supply), we were presented with the following path forward in the attached screenshot.

Strangely enough...
@coingecko
 has no issue verifying the authenticity of our feed: https://api.ergoplatform.com/info/supply

#cryptocurrency, it begs the question...how much overall data is out of sync on CMC for projects that refuse to pay these hostage fees? Data integrity issues are not a good look for #CMC considering accuracy is their product. Let's get this cleaned up!"

[1714609633]

1714609633

[1714609633]

1714609633

[goldkingcoiner]

https://twitter.com/ergo_platform/status/1719163379380629540
"After over a year of requests attempting to get the #Ergo information corrected (circulating supply), we were presented with the following path forward in the attached screenshot.

Strangely enough...
@coingecko
 has no issue verifying the authenticity of our feed: https://api.ergoplatform.com/info/supply

#cryptocurrency, it begs the question...how much overall data is out of sync on CMC for projects that refuse to pay these hostage fees? Data integrity issues are not a good look for #CMC considering accuracy is their product. Let's get this cleaned up!"

I would not be surprised if they do shady under-the-table business transactions, as well. If they do not get a hold on themselves soon, they will end up like ICObench. Their experts too started selling strange services in a way that was not ok. I guess thats why it does not exist anymore. You could buy positive reviews from their so-called "experts" on ICOs which turned out to be scams. They did not care as long as they got paid.

[mindrust]

CMC is basically a rating shop just like the rating agencies in the US which scammed their customers in 2008. CMC don’t care if they provide the right information or not. They will provide whatever information if you pay them. I noticed it when they insisted on listing ripple years ago. Ripple is not a crypto. It is a centralized database and yet cmc listed it on the top of their market cap list for years. (They still do it btw) Cmc helped ripple build its reputation, not for free probably. At least they used to have a way simpler ui, now (after binance acquired it) it looks just like another Chinese brothel where you can’t get away without getting scammed.

[zasad@]

CMC is basically a rating shop just like the rating agencies in the US which scammed their customers in 2008. CMC don’t care if they provide the right information or not. They will provide whatever information if you pay them. I noticed it when they insisted on listing ripple years ago. Ripple is not a crypto. It is a centralized database and yet cmc listed it on the top of their market cap list for years. (They still do it btw) Cmc helped ripple build its reputation, not for free probably. At least they used to have a way simpler ui, now (after binance acquired it) it looks just like another Chinese brothel where you can’t get away without getting scammed.

I agree with you completely. This post was made to ensure that cryptocurrency users do not make their conclusions based on data from only one free analytical service. Any information now needs to be checked for accuracy on several services.
It’s better to look for information on official sources of the project.

[vv181]

CoinMarketCap have premium service where the listing update demand proceeded exclusively, it’s called CMC Priority[1].

Based on that information they seem bills the premium rate services. There is no certainty whether Ergo team request such a service or CMC team just plainly send those bill without any information. Either way the fact it took them a years to get clear information about update process, it likely indicate the way CMC operates is ineffective to the point anyone should take extra precautions to believe the data they provided.

[1] https://support.coinmarketcap.com/hc/en-us/articles/16945563933723-CMC-Priority-CMCP

[batang_bitcoin]

Honestly, I like CMC more before they've been acquired by Binance. Although it's undeniable that there have been improvements about their graphics and stuff. But if we're going to take a look at incidents like this, it's not really desiring anymore to rely data of the market through them.
That's why it's nice to see that there are also other analytical stats website that are being founded that can compete against them. They may have accuracy based on their metrics through their platform but yeah, it could not be accurate in other websites.

[Kavelj22]

That's why it's nice to see that there are also other analytical stats website that are being founded that can compete against them. They may have accuracy based on their metrics through their platform but yeah, it could not be accurate in other websites.

There are not many of them. These applications require huge budgets for development and launch, in addition to operating costs, and therefore market whales like Binance are the only ones able to monopolize these services, and therefore they have absolute capabilities to manipulate data and blackmail whoever they want, whenever they want.

This news does not surprise me because it is not the first time that one of the service platforms that dominate the largest part of the market has sought to extort its customers in various ways.

[Rimueng]

https://twitter.com/ergo_platform/status/1719163379380629540
"After over a year of requests attempting to get the #Ergo information corrected (circulating supply), we were presented with the following path forward in the attached screenshot.

Strangely enough...
@coingecko
 has no issue verifying the authenticity of our feed: https://api.ergoplatform.com/info/supply

#cryptocurrency, it begs the question...how much overall data is out of sync on CMC for projects that refuse to pay these hostage fees? Data integrity issues are not a good look for #CMC considering accuracy is their product. Let's get this cleaned up!"

If I look at the invoice schedule, maybe for points number 1 -3 it doesn't matter if we fill in everything, that's normal. and it is the same that some platforms seem to have no problem verifying the authenticity of the data. The problem is that the costs are unreasonable. Just for the feed or API it feels like it's huge. They now know how valuable data from CMC is, so they turn any information there into business.

[ffandprofit]

Honestly, I like CMC more before they've been acquired by Binance. Although it's undeniable that there have been improvements about their graphics and stuff. But if we're going to take a look at incidents like this, it's not really desiring anymore to rely data of the market through them.
That's why it's nice to see that there are also other analytical stats website that are being founded that can compete against them. They may have accuracy based on their metrics through their platform but yeah, it could not be accurate in other websites.

This, I consider CMC nowadays is just one of binance's marketing tools, even if coingecko and others have their very dubious things (like the no-so-good finexbox exhange having a tusting score of 7/10 in coingecko) they at least are less openly a rating shop

[dansus021]

Honestly, I like CMC more before they've been acquired by Binance. Although it's undeniable that there have been improvements about their graphics and stuff. But if we're going to take a look at incidents like this, it's not really desiring anymore to rely data of the market through them.

Same as I do back in 2014-2015 Coinmarketcap became one stop to any user in bitcointalk with just simple web that show pretty much anything after they acquired by binance the User Interface looks good but the revamp make the site even heavier my 2015 old laptop now cannot handle it.

This news makes it even look worse for now Im just check in to CMC get their Diamond reward and getout

[batang_bitcoin]

Honestly, I like CMC more before they've been acquired by Binance. Although it's undeniable that there have been improvements about their graphics and stuff. But if we're going to take a look at incidents like this, it's not really desiring anymore to rely data of the market through them.
That's why it's nice to see that there are also other analytical stats website that are being founded that can compete against them. They may have accuracy based on their metrics through their platform but yeah, it could not be accurate in other websites.

This, I consider CMC nowadays is just one of binance's marketing tools, even if coingecko and others have their very dubious things (like the no-so-good finexbox exhange having a tusting score of 7/10 in coingecko) they at least are less openly a rating shop

Yeah, if there are other known websites that provides the same data as CMC, they should continue their service and try to compete with them together with coingecko. Because being acquired by Binance means that they can take advantage of them.

Same as I do back in 2014-2015 Coinmarketcap became one stop to any user in bitcointalk with just simple web that show pretty much anything after they acquired by binance the User Interface looks good but the revamp make the site even heavier my 2015 old laptop now cannot handle it.

This news makes it even look worse for now Im just check in to CMC get their Diamond reward and getout

I don't even go there to try those diamond and login stuff. I'm just using them for plainly checking it but if that seems to be an interesting thing then I might even try it.

[wallet4bitcoin]

I have always believed that coinmarketcap has some shady dealings under their sleeves without anyone carefully looking at them. The fact that the space is unregulated gives them the opportunity of doing what they want and also because they had no one build any kind of policy to govern how they should or should not work also makes them feel like outlaws.

The fact that projects gets to fastrack their lisiting and others don't and get either denied or delayed listing has pointed me in this direction of thought.