Topic: CoinGecko is introducing "Trust Score" to combat fake exchange volume - page 3. (Read 905 times)
May 19, 2019, 12:59:40 PM
This is good thing. I really hope that also coinmarketcap com will introduce this so we can have a real situation if trust score work as it should work so we can see the real price and volume.
May 19, 2019, 11:54:12 AM
coingecko really doing something good on cryptoworld, and this trust score to combat fake exchange volume really help some trader to choose which exchhange that can be trusted.
May 19, 2019, 10:28:15 AM
I was very happy with the initiative but i think it needs to upgrade a lot. You can open a feedback area just to do this. Because holders always know is there any real volume on that exchange or not. It is very easy to find out also.
For instance, https://www.coingecko.com/en/coins/semux?utm_content=semux&utm_medium=search_coin&utm_source=coingecko in here, tokok btc/sem pair looks trusted but I know it is fake and only stex has real volume for semux and others are just fake.
https://www.tokok.com/market?symbol=SEM_BTC just watch a little bit. First, look to the order sheet and later start to watch trade history. You would understand something in right in 5 minutes.
You are on the right path with trust score but if you can't give accurate information you would harm the ecosystem more than fake volume.
For instance, https://www.coingecko.com/en/coins/semux?utm_content=semux&utm_medium=search_coin&utm_source=coingecko in here, tokok btc/sem pair looks trusted but I know it is fake and only stex has real volume for semux and others are just fake.
https://www.tokok.com/market?symbol=SEM_BTC just watch a little bit. First, look to the order sheet and later start to watch trade history. You would understand something in right in 5 minutes.
You are on the right path with trust score but if you can't give accurate information you would harm the ecosystem more than fake volume.
May 19, 2019, 10:17:11 AM
I've stopped using coinmarketcap myself, coingecko is one of the better alternatives that I have been using. CMC has shown to be untrustworthy by advertising crypto scams and showing fake volume.
That is a really bad situation and what you did is what customers should do and probably mail them or let them know somehow what they are doing wrong.
They shouldn't be advertising scams at all, they should hire people and set up a process that checks those projects but if they show fake volume for real then they are probably not that good people. Just have to find much more honest ones.
May 19, 2019, 05:07:49 AM
This is a welcome development. This follows the recent decision of coinmarketcap.com to remove exchanges that don't provide mandatory order data. It's time for proper accountability and transparency in the crypto market space.
May 19, 2019, 01:18:12 AM
Hello everyone! CoinGecko is introducing "Trust Score" to combat fake exchange volume. From today onwards, we won't be sorting exchanges by reported volume but will take into account web traffic and orderbook data. 
Full announcement: https://blog.coingecko.com/trust-score/
Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data
Check it out and let us know what you think!
Full announcement: https://blog.coingecko.com/trust-score/
Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data
Check it out and let us know what you think!
That's a good move, I have been using coinmarketcap since my introduction to cryptocurrency and I'm still now, but with this feature, I will bookmark your site for comparison, investors and traders wants transparency so they can trade effectively and that trust score feature is going to be a big help.
May 19, 2019, 12:18:17 AM
using such data for the trust Score is a good idea as this would reflect the real activities going on the exchange platform as crypto traders trade their cryptocurrencies. Most exchanges use fake volumes and some even fake their general statistics to lure projects to list on their cryptocurrency exchange platform.
May 18, 2019, 11:15:15 PM
It's good news. We need to clean up this industry and call out the shady behavior, because it's this type of thing that makes people question the legitimacy of cryptocurrencies and thus investing in them. While regulations can address some of these issues, plenty of can be resolved internally within the industry.
May 18, 2019, 05:24:16 PM
I think it is a good idea. I have been using coingecko for a long time, it is one of the most helpful and most frequently visited sites I use. The trust score sounds very interesting.
I really want to see how it is implemented. It will be nice to see what the outcome is of different exchanges and if anyone is shocked or surprised by some of the exchanges.
As far as I know, there is no other service like this. Very helpful in choosing what exchange to trust.
I really want to see how it is implemented. It will be nice to see what the outcome is of different exchanges and if anyone is shocked or surprised by some of the exchanges.
As far as I know, there is no other service like this. Very helpful in choosing what exchange to trust.
May 18, 2019, 02:15:42 PM
This is a right step towards edging out deceptive exchanges that cheats unsuspecting traders or investors.
There have been reported cases of exchanges faking volumes of coins traded with their exchanges which coinmarketcap could not validated however coigecko addressing the anomaly will encourage investors to view their site to ascertain the genuine volume traded using the scorecard and ordetdata.
There have been reported cases of exchanges faking volumes of coins traded with their exchanges which coinmarketcap could not validated however coigecko addressing the anomaly will encourage investors to view their site to ascertain the genuine volume traded using the scorecard and ordetdata.
May 18, 2019, 09:47:16 AM
I prefer mostly coigecko to coinmarketcap because they add more coins and i have way many shittokens which i can track on coingecko. They just need to improve their visual a bit. And after that act, they passed to the next level. Even i don't use there much, i hope coinmarketcap would enable similar thing for sake of the crypto world.
May 16, 2019, 04:01:35 PM
This initiative by Conigecko is a laudable one indeed and i am impressed that at once many efforts are being put in place from all angles to get all the bad nuts from the cryptospace. This would help get rid of all the exchanges that uses fake trading volumes to deceive project managers and investors to list their tokens and also trade there respectively. Exchanges like Hitbtc would be down in no time with this initiative in place. Thank you Coingecko!
May 16, 2019, 03:34:10 PM
Hello everyone! CoinGecko is introducing "Trust Score" to combat fake exchange volume. From today onwards, we won't be sorting exchanges by reported volume but will take into account web traffic and orderbook data.
Full announcement: https://blog.coingecko.com/trust-score/
Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data
Check it out and let us know what you think!
Full announcement: https://blog.coingecko.com/trust-score/
Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data
Check it out and let us know what you think!
Finally something newer and better than coinmarketcap exist.
Many people got tricked by exchange volume that listed in coinmarketcap because those are fake
May 16, 2019, 03:02:02 PM
Great. With the recent case of NegocieCoins this is more than welcome. Although we Brazilians, at least some of us, were already suspicious of the volume above normal while other pairs were well below and visits to the site were low ... Even if other users see the CMC soon that score will be copied.
Even i was skeptical of Negocie Coins as they are showing a billion dollar volume which is really huge for any exchange and i have not heard that name earlier and it is a shady business if they are misleading everyone with fake volumes and those exchanges should be avoided as you never know when they will run away with the user funds. It is a good initiative from coingecko but i am not sure how accurate they can analyze the volumes.It is a way of watching, but it is extremely important to escape this kind of exchnage. CoinGecko is initiating this to at least try to assist users.
May 15, 2019, 07:53:43 PM
Finally some good incentivates are starting to pop up. CoinGecko will certain get more attention on new users by introducing this new trust score funcionality.
Since most of investors are worried about fake exchange volumes and scammers all over the place.
Maybe we will see more exchanges taking this measure
Since most of investors are worried about fake exchange volumes and scammers all over the place.
Maybe we will see more exchanges taking this measure
May 15, 2019, 07:44:54 PM
WebTraffic doesn't make any sense. It would be better if it was possible to audit with some regularity cold and hot wallets and compare to see if the volume is true.
May 15, 2019, 06:51:24 PM
They are only doing what they can in order to make their site more popular compare to other websites. Their update is very interesting and I am pretty sure that it can help many investors and project owners.
Though I am sure that it is only part of their marketing techniques to gain more visitors but if they can make this update 100% successful without any bias in the future. Then I am pretty sure that CoinGecko will dominate other websites.
Though I am sure that it is only part of their marketing techniques to gain more visitors but if they can make this update 100% successful without any bias in the future. Then I am pretty sure that CoinGecko will dominate other websites.
May 15, 2019, 04:29:46 PM
That's some good stuff. Though unfortunately since majority are still geared towards CoinMarketCap, I don't think this makes that much of an impact. It's a step forward though; I just wish they'd do a re-make on their UI.
Majority of the users see coinmarketcap as the ultimate source of all the information, but the volumes they are showing are fake for a very long time. Initially the fake volumes by the Chinese exchanges and since they are closed we do not see them posting those huge volumes but now we have fake volumes in majority of the exchanges. Thanks Coingecko for the initiative and i would like to know how you are going to determine these volumes if the exchange starts creating fake order books to get a good score. May 15, 2019, 03:27:05 PM
This is a good idea. CMC is just simply too big that of course they're gonna try to affect the market by lying about volume
May 15, 2019, 02:56:11 PM
I have been using coingecko from the beginning of the year over coinmarketcap and from this new news about trust score I think it is heading in the right direction to become the go to site for alt coin and price checking on cryptocurrencies.
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