Confidence Indicator is a new feature in CoinMarketCap

yhiaali3

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Quote from: milewilda on June 04, 2020, 03:35:00 PM

I dont know if its just me but im trying my best to look on how to see that indicator. Is there any toggle or what?

Quote from: ryzaadit on June 04, 2020, 03:37:57 PM

Same like me ~LOL.

I don't find anything about "Confidence Indicator" trying to look on "Tools Tabs" still cannot find it.

No change has occurred, but this appears when searching for a currency like BTC and when you go to the page click Market Pairs or you can see it from here:
https://coinmarketcap.com/currencies/bitcoin/markets

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CoinMarketCap algorithmically compares the Reported Volume of exchanges against our data model. The Confidence Indicator indicates the level of confidence we have that the Reported Volume is accurate.
Confidence Indicator reports a number from 0% to 100%, and are categorized into bands:

This would only mean the that VOLUME (24) column is also not accurate. And if it isn't accurate like OKEX to only have 40% but why is the ranking still on the 2nd after binance? This is somehow contrary to the ranking when they appear to have low confidence yet on the top 2 spot.

There is also this offer from CMC.

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Quote from: blurryeyed on June 04, 2020, 04:02:58 PM

The fact that they show 100% confidence in HitBTC & Bitfinex shows what complete bollox it is. It's just another way for CMC to extract bribes from scam exchanges for raising their "confidence" level & fool users.

Don't fall for it. CMC are nothing but a scam promoting outfit.

Have the same thing in mind on how those exchangers that mentioned above do really have 100% confidence and even some of them which had been
known in the past that have faked out volume or do involved on wash trading and now they do have that perfect confidence status? I dont really believe
that much of that bullshit indicator and it do really just mislead out people.I wont be surprising if there would be more non-sense indicators that would
pop out in next days,weeks or months.Lets see if Binance would mess up on this one or not.

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The fact that they show 100% confidence in HitBTC & Bitfinex shows what complete bollox it is. It's just another way for CMC to extract bribes from scam exchanges for raising their "confidence" level & fool users.

Don't fall for it. CMC are nothing but a scam promoting outfit.

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Quote from: ryzaadit on June 04, 2020, 03:37:57 PM

Quote from: milewilda on June 04, 2020, 03:35:00 PM

-snip-

Same like me ~LOL.

I don't find anything about "Confidence Indicator" trying to look on "Tools Tabs" still cannot find it. IMO this feature not really bring a significant effect for the trading purpose, tools like RSI, MACD, FIBONACI, etc still one of the best tools who really have a good percentage successful prediction.

What is says was that the confidence indicator measures how accurate the reported volume there is on the exchange and so 40% score of Okex means the trading volume on this exchange could be fake. Its coinmarketcap's AI bot that measures this reported volume which the AI pulls from the exchanges. But how do we know that their AI is also pulling the right information?

I was assuming that the confidence indicator is for traders to think the exchange is a safe platform. I was wrong. This is kind of manipulation of Binance to shut their competitors.

The Sceptical Chymist

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I find it extremely sad that there has to be such a thing as a "confidence indicator" when it comes to giving a numerical score to guide you as to whether you can trust the numbers an exchange is giving CMC. All exchanges should have 100%, period. If you thought we were out of the Wild West days in crypto, this ought to prove that wrong. There's no way any brokerage would get away with faking their trading volume--at least not for long, and the gain you'd get from faking numbers is paltry by comparison to the damage that can be done to your exchange if and when that BS gets uncovered.

Quote from: yhiaali3 on June 04, 2020, 02:33:57 PM

After Binance has purchased the CoinMarketCap site, it appears that she will make many updates

Binance probably won't get offended by someone misgendering them, but beware: the pronoun police are lurking everywhere. (lol)

Anyway, the changes are to be expected and hopefully whatever changes are coming in the future for CMC are positive ones. Binance is pretty on-the-ball as an exchange, so I don't think they're going to start breaking things as soon as they begin looking around. We'll see.

ryzaadit

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Quote from: milewilda on June 04, 2020, 03:35:00 PM

-snip-

Same like me ~LOL.

I don't find anything about "Confidence Indicator" trying to look on "Tools Tabs" still cannot find it. IMO this feature not really bring a significant effect for the trading purpose, tools like RSI, MACD, FIBONACI, etc still one of the best tools who really have a good percentage successful prediction.

milewilda

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I dont know if its just me but im trying my best to look on how to see that indicator. Is there any toggle or what?

About that Confidence indicator, i wont really buy that much and same as you questioned about on what are the
criterias for them to made such result.

yhiaali3

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Confidence Indicator is a new feature in CoinMarketCap

After Binance has purchased the CoinMarketCap site, it appears that Binance will make many updates
The first update was a web-based traffic exchange Ranking
The second feature is to add a confidence Indicator next to each exchange as shown in the image

I think this is a great advantage, but the question is how is this confidence determined? What are the criteria used to give confidence?
To find out what this new feature means, click the question mark next to it, the following image will appear:

Update:
For those who ask to find this you can see it from here:
https://coinmarketcap.com/currencies/bitcoin/markets

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