Bitmex should be banned by CMC | Bitcointalksearch.org

Borocoin

copper member

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Quote from: dominos on January 13, 2019, 04:36:47 PM

Quote from: Borocoin on January 10, 2019, 12:08:05 PM

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

I don't know what are you talking about. The Bitcoin (BTC) price and volume on Bitmex exchange are excluded from coinmarketcap calculations and even the Bitmex exchange is in 'derivatives' category that looks like a fair deal in my honest opinion.

It's just a bait . Bitmex can pump or dump crypto with wirtual money (leverage x50 or x100 ) ,think about it

dominos

full member

Activity: 283

Merit: 100

Quote from: Borocoin on January 10, 2019, 12:08:05 PM

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

I don't know what are you talking about. The Bitcoin (BTC) price and volume on Bitmex exchange are excluded from coinmarketcap calculations and even the Bitmex exchange is in 'derivatives' category that looks like a fair deal in my honest opinion.

BitHodler

legendary

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Quote from: babarian on January 12, 2019, 07:14:06 AM

I just found out about this. I didn't expect Bitmex to do something very bad. I think coinmarketcap has the right to permanently ban Bitmex for all this very embarrassing things.

Coinmarketcap doesn't care about any type of bad actor in the industry, so they definitely won't bother doing anything about a fairly reputable platform such as BitMEX. It's the most liquid exchange in the industry as well.

Within a very small range there is millions worth of liquidity, which is unseen here and won't likely be replicated any time soon. Probably not even in years with how people don't trust exchanges to provide liquidity.

At the end of the day, people aren't forced to use it, and their volumes and pricing is excluded, so there is not much harm it can do even if BitMEX wanted to. People need to grow a thicker skin. Welcome in crypto land....

Borocoin

copper member

Activity: 120

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Quote from: Whosdaddy on January 12, 2019, 11:37:32 AM

Bitmex literally has 10%+ of all trading in bitcoins, how do you plan on not seeing them as a data provider for the price? They have their pros and cons but at the end of the day they are a huge part of the market and there is no way of just ignoring them when calculating.

Even one of the biggest exchanges in the world binance has about 2% in total whereas Bitmex provides a 10% consistently for traders. Why would you even want to ignore it. Prices could change there drastically of course and I agree maybe a longer average should be taken instead of constant checking but at the end of the day there is really not that many websites that affects the market the way bitmex does. I think there could be a way around the problems while still keeping them relevant on price estimates.

For me trading on Bitmex is just a game on btc, not real buying or selling. So CMC don't have to show volume and price from Bitmex because it's not real transactions on this coin. Real transactions coming only when Bitmex developers withdrawing their btc and sell it on real exchanges for having $$$

Whosdaddy

hero member

Activity: 1148

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Bitmex literally has 10%+ of all trading in bitcoins, how do you plan on not seeing them as a data provider for the price? They have their pros and cons but at the end of the day they are a huge part of the market and there is no way of just ignoring them when calculating.

Even one of the biggest exchanges in the world binance has about 2% in total whereas Bitmex provides a 10% consistently for traders. Why would you even want to ignore it. Prices could change there drastically of course and I agree maybe a longer average should be taken instead of constant checking but at the end of the day there is really not that many websites that affects the market the way bitmex does. I think there could be a way around the problems while still keeping them relevant on price estimates.

nicster551

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Activity: 896

Merit: 253

Quote from: Borocoin on January 10, 2019, 12:08:05 PM

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

I think that is just normal for Bitmex to have different prices that other platforms since many people do trade on different prices and that would make the price different.

babarian

full member

Activity: 658

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I just found out about this. I didn't expect Bitmex to do something very bad. I think coinmarketcap has the right to permanently ban Bitmex for all this very embarrassing things.

Goodvalony

member

Activity: 616

Merit: 16

Apart from the Bitmex volume, there are other volumes from other exchanges been shown on CMC. most people use the exchange but i don't think there sales Movement determine the price of bitcoin and ethereum. Meanwhile they are planing of introducing other Altcoins in their Market this year.

Royal Jelly

jr. member

Activity: 336

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ECOSTART

Seeing this seems a bit horrible, so much market manipulation.
But we also cannot ban Bitmex, there may be other policies that must be addressed.

Natalim

hero member

Activity: 3094

Merit: 606

BTC to the MOON in 2019

That is not good for people here, CMC should include every trading sites so they can give the full details to the people.
What if they will dump the price, that's not the problem, careful research is very important, one should look behind the reason of the drop than just
look at the graph make some technical analysis. Be sure to consider also the speculation, and the expert's prediction, it's a big factor in determining the price.

partysaurus

sr. member

Activity: 574

Merit: 251

yes i agree bitmex should not be on cmc , the whole huge levrage thing make the sells and buys very inacurate it should be removed for sure its just contracts after all no one is holding any real coins.

gentlemand

legendary

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Welt Am Draht

Quote from: enawati on January 11, 2019, 06:32:37 AM

In my opinion Bitmex does not make any effect with price of Bitcoin because when we trade there we are not really make transaction with real physical Bitcoin. We make deposit by Bitcoin and use that BTC to buy contract, just similar like trading on the metatrader platform.

Bitmex provides a powerful incentive to mess with real markets and it's sucked up so much money that real volume will have weakened enough at times for the spot exchanges to become entirely Bitmex's bitch.

I'll bet many of the moves we've seen in recent times were purely driven by the desire to provoke results on Bitmex.

Borocoin

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Quote from: enawati on January 11, 2019, 06:32:37 AM

In my opinion Bitmex does not make any effect with price of Bitcoin because when we trade there we are not really make transaction with real physical Bitcoin. We make deposit by Bitcoin and use that BTC to buy contract, just similar like trading on the metatrader platform.

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 ?

enawati

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https://adonx.one

In my opinion Bitmex does not make any effect with price of Bitcoin because when we trade there we are not really make transaction with real physical Bitcoin. We make deposit by Bitcoin and use that BTC to buy contract, just similar like trading on the metatrader platform.

jrrsparkles

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Don't look at the coin's prices,then it will keep the investors free from manipulation.For traders keep chcecking the prices becomes some kind of addiction and this cost us lot of money by making wrong decision.If you are ready to trade then we need to manage it in healthy way and its just a part of life.Ban CMC and most of the problem will get solved. Grin

mrdeposit

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Activity: 1358

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Quote from: Borocoin on January 10, 2019, 12:08:05 PM

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

I am not sure about how Bitmex price is included on CMC. Bitmex gives financial tools for traders who wanna to leverage positions but it doesn't play with prices. Leveraged trade doesn't have any effect on asset's pirce.

randythered

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Activity: 434

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I'm not sure how CMC use the price on Bitmex. I see that they exclude volume and know they use a weighted volume to calculate the price overall. How would they use bitmex price if they're excluding its volume? Or do they not include it at all?

Borocoin

copper member

Activity: 120

Merit: 0

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

Topic: Bitmex should be banned by CMC (Read 199 times)