People amongst the financial industry can/will tell you the following:
Derivatives markets are usually the institutions playground.
Global markets will have the final word on the price, but institutions have a word in price variations once it's "stable"
Topic: Bitmex should be banned by CMC (Read 293 times)
Bitmex volume is a mystery to me, according to me it includes a leverage(...x25, x50, x100), so money that is not there.
Ok so in fact we buy for REAL MONEY physical Bitcoin....
This Money is around 1,000,000,000 $ every day ( Total btc volume 5,500,000,000 $ , Bitmex is 18% so 5.500.000.000$ x 0.18 = around 1.000.000.000$)
If Bitmex will be closed today and traders from Bitmex will buying and holding real Bitcoin then they can buy every day around 270 000 btc ( around 1,6 % of total btc supply)
This Money is around 1,000,000,000 $ every day ( Total btc volume 5,500,000,000 $ , Bitmex is 18% so 5.500.000.000$ x 0.18 = around 1.000.000.000$)
If Bitmex will be closed today and traders from Bitmex will buying and holding real Bitcoin then they can buy every day around 270 000 btc ( around 1,6 % of total btc supply)
Not even close. It's a derivative market based on contracts, so only the net difference between long and short contracts are being physically settled and thus bought/sold. It works the same in the traditional markets like gold. Only a small fraction of the physically settled gold market is actually ever "bought" and withdrawn from the gold vaults. Similarly, Bitmex is a venue for making speculative bets in both directions -- not buying and holding.
I support your opinion of the author and also believe that Bitmex is not quite correct to include in the list.
CMC is nothing but just a site wherein statistics from different exchanges and the whole cryptomarket is displayed, so I don't think banning Bitmex from the said site would do anything good for the ecosystem if the same number of traders still stayed on the platform. Also, what you're pointing out on Bitmex' activities has been--one way or another--done by another exchange, in the past or even in the present.
There goes your claims and whatever it is that you're worrying about.
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The BTC/USD market on BitMEX is a derivatives market NOT actually spot trading Bitcoin. As a result, it has been excluded from the price and volume averages of Bitcoin.
There goes your claims and whatever it is that you're worrying about.
CMC is nothing ? It's one of most popular site in crypto world !!! Like Ethereum.org or bitcointalk.org
Look this, Coinmarketcap vs Coinpaprica (Biggest concurent)
https://trends.google.pl/trends/explore?q=coinmarketcap,coinpaprika
Ok so in fact we buy for REAL MONEY physical Bitcoin....
This Money is around 1,000,000,000 $ every day ( Total btc volume 5,500,000,000 $ , Bitmex is 18% so 5.500.000.000$ x 0.18 = around 1.000.000.000$)
If Bitmex will be closed today and traders from Bitmex will buying and holding real Bitcoin then they can buy every day around 270 000 btc ( around 1,6 % of total btc supply)
So in my opinion when someone closed Bitmex today then we can make in 2 months run on BTC price from 3700 to 7200 $ ( 60 x 1,6 = 95% , 3700 x 1,95=7200 )
Someone will say now " It's don't work like that " , " Bitmex had nothing to do with btc price " , But facts are very real, too much times dumping on btc prices started on bitmex.
And think. What Bitmex do with btc which is deposited and loosed by owner . They sell it.... what can it cause ?
( I am not newbie, my personal account was fast legendary and over 400 posts here, it's account of my crypto project BORO, I'm in crypto from 6 years)
CMC is nothing but just a site wherein statistics from different exchanges and the whole cryptomarket is displayed, so I don't think banning Bitmex from the said site would do anything good for the ecosystem if the same number of traders still stayed on the platform. Also, what you're pointing out on Bitmex' activities has been--one way or another--done by another exchange, in the past or even in the present.
There goes your claims and whatever it is that you're worrying about.
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The BTC/USD market on BitMEX is a derivatives market NOT actually spot trading Bitcoin. As a result, it has been excluded from the price and volume averages of Bitcoin.
There goes your claims and whatever it is that you're worrying about.
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
That's a strong claim. I'll try to look into it to see whether the dumps are really starting there at least more often than on other exchanges. However, even if that's true, it doesn't mean we can just ignore their trading volume so that the average shown price is not that low. We will get the wrong picture this way, which cannot be considered a positive thing. Moreover, it's not like people only check out the prices on coinmarketcap. There are news portals and charts from major exchanges. People will still see what the price is on this exchange and will follow with dumping cryptos on other exchanges. That's the downside of a free market.Fast always dump on price started on bitmex .
UPDATE: I didn't even have to go through details of what's going on with Bitmex, because coinmarketcap says the following on this exchange's page:
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The BTC/USD market on BitMEX is a derivatives market NOT actually spot trading Bitcoin. As a result, it has been excluded from the price and volume averages of Bitcoin.
I guess they share your views on the situation.
The more places that trade bitcoin should be listed on some chart, perhaps cmc should create another one that includes bitmex, ATMs, and any other non exchange that sells bitcoin
As much people see bitmex dominating over other exchanges and imposes price of leading cryptocurrencies .
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
people said the same thing about bitfinex during the last bear market. it rose to prominence during the 2013 bull market, just like bitmex did during the 2017 bull market. in both cases, the potential profits to be made by shorting bitcoin after the bubble were unprecedented (bitfinex allowed 3.3x leverage; bitmex allows up to 100x).
that goes to show you, the ability to short the market won't permanently keep the market down. it might make the correction last longer than it would have otherwise though.
i see nothing wrong with leveraged markets as long as positions are unwound responsibly by the broker such that physical delivery and solvency are reliable.
first of all, Coinmarketcap.com is not some authority to ban something or not. and them listing an exchange or even coin on their platform is not going to change anything. there are always newbies who look at these things and are affected but they don't change anything in the market!
second of all, if the price were to go down then CMC showing it or not wouldn't change a thing. your mistake is that you think traders are watching CMC then when they see a drop they dump! it is nothing like that. everything starts and ends on exchanges themselves and then the result is reported on these sites.
second of all, if the price were to go down then CMC showing it or not wouldn't change a thing. your mistake is that you think traders are watching CMC then when they see a drop they dump! it is nothing like that. everything starts and ends on exchanges themselves and then the result is reported on these sites.
Think how gravity work, it work in crypto too.
If price fall down in exchange with biggest volume (BITMEX ?) then prices in smaller exchanges will falling too
If price fall down in exchange with biggest volume (BITMEX ?) then prices in smaller exchanges will falling too
As much people see bitmex dominating over other exchanges and imposes price of leading cryptocurrencies .
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
I don't know what you mean by these?
Are these just assumptions made on some evidences? There are a lot of exchanges which clearly are a dumpster for ETH and BTC and clearly as you say Bitmex is one of them.
How can we be so sure that the price of BTC on CMC is based on the number 1 exchange? When each exchange is each of its own?
I have long been seeing fake figures for daily trading volumes on many cryptocurrency exchanges.
bitmex skillfully manipulates price and makes millions of dollars
bitmex skillfully manipulates price and makes millions of dollars
The price is given by the market and by the negotiated product. Removing Exchange will only change the main price reference that will soon be exchanged for another Exchange
No, it's the other way around, people should stop following CMC 
That site is the most toxic source if you seek info about coins and exchanges.
From asking fees to a listing, from taking bribes to list shitcoins, to paid "glitches" that have become the norm propelling coins temporarily on the first page and creating fake prices to boost ranks that site is pure garbage.
That site is the most toxic source if you seek info about coins and exchanges.
From asking fees to a listing, from taking bribes to list shitcoins, to paid "glitches" that have become the norm propelling coins temporarily on the first page and creating fake prices to boost ranks that site is pure garbage.
As much people see bitmex dominating over other exchanges and imposes price of leading cryptocurrencies .
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
The things don't work like that. Let's say CMC will not calculate Bitmex in the price. You think that CMC price is the official price and everybody trades based on that?
No. As soon as the price drops at Bitmex, the arbitrage traders and their bots will start buying at Bitmex and selling on (all) the other exchanges they can as long as this is profitable for them (i.e. the price get more or less even). And CMC will also show a drop in the price, since the price, even if some minutes later, has dropped on the other exchanges too...
It don't work like that. You can't buy Bitcoin on Bitmex and sent it to other exchange. You can only sent btc to Bitmex.
As much people see bitmex dominating over other exchanges and imposes price of leading cryptocurrencies .
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
The things don't work like that. Let's say CMC will not calculate Bitmex in the price. You think that CMC price is the official price and everybody trades based on that?
No. As soon as the price drops at Bitmex, the arbitrage traders and their bots will start buying at Bitmex and selling on (all) the other exchanges they can as long as this is profitable for them (i.e. the price get more or less even). And CMC will also show a drop in the price, since the price, even if some minutes later, has dropped on the other exchanges too...
As much people see bitmex dominating over other exchanges and imposes price of leading cryptocurrencies .
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
https://coinmarketcap.com/currencies/bitcoin/#markets
But as i see from my observation ... Bitmex is bad for Bitcoin and Ethereum price .
Fast always dump on price started on bitmex .
I think that btc and eth price shouldn't be taken on CMC from Bitmex. Prices on bitmex shouldn't be shown in CMC, it's not exchange of real cryptocurrencies.
As long as Bitmex will dominate - btc price will never grow up like in 2017
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