Cryptocurrency exchange volume: More fake than real? - page 2.

GregH37

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Quote from: canman on April 06, 2019, 08:11:38 AM

Quote from: XZERO1 on April 03, 2019, 09:50:03 AM

Many of exchanges specially recently using fake volume unfortunately, and some of them faking their liquidity by a huge difference, meaning in some cases it can go as high as 90% or even more fake volume, they're not that hard to notice tough looking at their order books and the buy and sells that's going through at the same time, I started a thread about this and how to spot these kind of exchanges months ago https://bitcointalksearch.org/topic/exchanges-and-fake-volume-5094490

Most of them use BOT to increase trading volume and it is appearing a lot at new exchanges. I think this volume increase will cause many new investors to face many difficulties in choosing. Coinmarketcap currently has no way to prevent this abuse, but in the future I hope that CMC will get the necessary tools to eliminate BOT and bring confidence to all investors.

The coinmarketcap you talked about, are they any saint themselves ? Aside the Bitcoin price, ethereum and Litecoin, have you ever asked how other coins managed to get to the top list, especially there are some coins on that top list that you and I know that they don’t deserve to be there, what suddenly made them leave their last position to being top ?

Have read in many places with proof how they themselves are agents to this manipulation going on too, which is probably how the owner makes his money from the site. As long as what they do does not affect my investment, I don’t have any issue with it.

canman

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Quote from: Sled on April 06, 2019, 09:03:16 AM

No wonder that a lot of people tried to take advantage with the current market conditions and we are aware for this actions. I know it sounds tricky this days and we should be careful of what coin we trade and as well as the exchanges we used cause maybe we are into the wrong place. Fake volumes and some way of scamming looks like it growing right and taking a way to fool new traders, and so we should have to investigate before putting our money with them otherwise it turns into nothing.

I feel that this is not good because if you use fake trading volume, many investors cannot know exactly if the token you are holding is really potential or not. I think before investing in those exchanges, find out carefully because almost all exchanges that are on the market have fake volume and this makes me feel very difficult in make a choice

milewilda

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Quote from: Vitalicus on April 03, 2019, 06:50:45 AM

Quote from: ASHLIUSZ on March 27, 2019, 02:18:26 PM

Faking of trading volume is quite common with the exchanges. This fake volumes were to enrich the trading through those exchanges. Quite often if some inspections were made over the exchanges there will not be no big issues with this fake volumes. In the past when the fake volume was found, drastic market crash took place and this too is mentioned as a reason for etf rejection.

Counterfeit volume is present in most major exchanges and they do this to be able to stand in the top 1 position in the coinmarketcap. This really affected investors because they were very difficult to choose good exchanges and I hope that in the future many tools will detect the virtual volume found and remove and everyone can see the accuracy in each exchange

Achievable but wont really this time to have these tools thats why its still rampant to see these exchangers to be known manipulating their volume.Some of them done it obviously
and some of it isnt really that noticeable at all.The aim of these fake or pumping volumes is to get attention through the entire market as said this do affect investors yet most of us do really
target out which exchange do have the highest or top volumes.

Forbiddenone

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Previous year some exchanges have greatly affected the volume with fake transaction and in 2017 also major exchange were minting coin out of thin year,thats why decentralized exchanges are suitable but tit will take time for them to get into action and i think exchanges should not support hard forked coin bcz they are useless and generally are used for manipulation purpose and it will greatly improve people and authority trust on crypto.

Sled

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No wonder that a lot of people tried to take advantage with the current market conditions and we are aware for this actions. I know it sounds tricky this days and we should be careful of what coin we trade and as well as the exchanges we used cause maybe we are into the wrong place. Fake volumes and some way of scamming looks like it growing right and taking a way to fool new traders, and so we should have to investigate before putting our money with them otherwise it turns into nothing.

canman

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Quote from: XZERO1 on April 03, 2019, 09:50:03 AM

Many of exchanges specially recently using fake volume unfortunately, and some of them faking their liquidity by a huge difference, meaning in some cases it can go as high as 90% or even more fake volume, they're not that hard to notice tough looking at their order books and the buy and sells that's going through at the same time, I started a thread about this and how to spot these kind of exchanges months ago https://bitcointalksearch.org/topic/exchanges-and-fake-volume-5094490

Most of them use BOT to increase trading volume and it is appearing a lot at new exchanges. I think this volume increase will cause many new investors to face many difficulties in choosing. Coinmarketcap currently has no way to prevent this abuse, but in the future I hope that CMC will get the necessary tools to eliminate BOT and bring confidence to all investors.

XZERO1

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Many of exchanges specially recently using fake volume unfortunately, and some of them faking their liquidity by a huge difference, meaning in some cases it can go as high as 90% or even more fake volume, they're not that hard to notice tough looking at their order books and the buy and sells that's going through at the same time, I started a thread about this and how to spot these kind of exchanges months ago https://bitcointalksearch.org/topic/exchanges-and-fake-volume-5094490

Vitalicus

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Quote from: ASHLIUSZ on March 27, 2019, 02:18:26 PM

Faking of trading volume is quite common with the exchanges. This fake volumes were to enrich the trading through those exchanges. Quite often if some inspections were made over the exchanges there will not be no big issues with this fake volumes. In the past when the fake volume was found, drastic market crash took place and this too is mentioned as a reason for etf rejection.

Counterfeit volume is present in most major exchanges and they do this to be able to stand in the top 1 position in the coinmarketcap. This really affected investors because they were very difficult to choose good exchanges and I hope that in the future many tools will detect the virtual volume found and remove and everyone can see the accuracy in each exchange

ethereumhunter

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Some of the exchanges have fake volume, and the other exchanges have a real volume. It's not happening in crypto exchanges, but it's happening too in the forex exchanges. I don't surprise to see the table as I don't think too serious with that. As long as I can take the benefits from the crypto, then I don't have to worry. In the future, that will be many more exchanges that were showing the real volume than the fake volume because they will think that it is no use to give the fake volume and people will become smart to see something strange and they will leave those exchanges if somehow the exchanges make a fake volume.

joniboini

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Quote from: Hannahanto on March 29, 2019, 07:33:32 PM

Will this in anyway affect bitcoin's growth?

Depends on what you define 'growth' is. If you're talking about tech development, then of course not. But adoption, price wise, I think yes, though the degree for the effect is hard to measure. In short, if you don't have a healthy market then the asset is prone to price manipulation, shady practices, lots of funds gone due to hack, etc. Traders/buyers/sellers, or users in general will definitely bear a huge risk if they continue trading on shady exchanges.

rodel caling

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Quote from: socks435 on March 21, 2019, 02:56:30 PM

There are many fake volume and sometimes some shitcoins jump too high but after you login on some exchange the price is not the same as what they show in some coin monitoring site like coingecko or coinmarketcap.

So, I decided to trade some coins only in trusted exchanges which is well known here in the forum like Binance.

That's right mate I'll go with your thoughts I think that problem to all exchange need to resolve that need to coordinate to each other the price of every coins listing their exchange avoid confuse of the people using different exchange for their investment.

Hannahanto

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Was really surprised to hear it. I have traded and still trading in the best exchanges. I just believed its data shown. But i do understand that this is for the business and nothing else. What bring to exchanges by keeping the volume so high is the crowd to the exchanges. Expecting more crowd to pitch in to the exchanges. Will this in anyway affect bitcoin's growth?

BitHodler

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Quote from: Oceat on March 29, 2019, 06:33:29 PM

It is better to use the most reputable one that has less issue than the rest of these exchanges giving fake data although it is common already in most exchanges.

In an ideal world people would ignore these exchanges, but in the crypto world people don't seem to give a shizzle and continue using the exchanges they know are participating in very shady market activity.

Most of these exchanges are very soft with their AML/KYC procedures, and that's what people like about them because they can continue trading trash coins over there. It's all about greed in crypto, not about what makes sense to do.

An easy way to figure out if these exchanges are really that popular, is to check out their website ranking stats. In most cases these exchanges have a poor ranking. Poor ranking with top 10 exchange volume is a red flag.

Oceat

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Quote from: Twinkledoe on March 27, 2019, 07:16:36 PM

Quote from: ASHLIUSZ on March 27, 2019, 02:18:26 PM

Faking of trading volume is quite common with the exchanges. This fake volumes were to enrich the trading through those exchanges. Quite often if some inspections were made over the exchanges there will not be no big issues with this fake volumes. In the past when the fake volume was found, drastic market crash took place and this too is mentioned as a reason for etf rejection.

It is like a norm already in crypto exchanges. So use only the trusted exchanges. The longer you use a particular exchange, the less worry you will have on them. New ones are really scary to use, you don't know if you can get your coins back.

It is better to use the most reputable one that has less issue than the rest of these exchanges giving fake data although it is common already in most exchanges. Be careful when choosing one these exchanges that you aren't familiar with you might feed your coins to the wrong hands.

taktik

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Quote from: Huskarls on March 28, 2019, 01:22:34 PM

Actually there is still a lot of exchange that I think there is still manipulation, like yesterday 28th March 2019. I tried arbit coin because 6 hours had a price gap that was quite far, but when the coin just landed, the price suddenly dumped. I also see some suspicious trade on the trade history

Until recently, I could not understand why such actions are performed on trading exchanges, but in my opinion, this is still a real price manipulation in order to provoke users of cryptocurrencies to certain actions.

beerlover

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Fake trading volume has been a persistent problem in crypto. It didn't start today, a lot of exchanges has been doing it; putting up fake trading volumes to deceive people. It also happened last week as two exchanges were about to overtake Binance on CMC Rankings but it was later discovered that the it volumes are fake. So, this is not the first time, that's why I don't trust most of these exchanges, it would be better trading within us in this community or with our colleagues and friends.

Moreover, faking trading volume is not a new thing just due to crypto space. It has been done in stock and forex markets for decades. Still, we need to be careful up to the level that we are able to. One simple right away tips we must learn out of these discussion is, volume is not at all a criteria anymore for choosing an exchange nor choosing a trading pair.

Slow death

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Quote from: whotookmycrypto on March 21, 2019, 01:43:53 PM

Recently The Tie released their findings of a study on the extent of volume manipulation by cryptocurrency exchanges. To no one's surprise, they found extensive manipulation amongst many cryptocurrency exchanges.

this was already expected, unfortunately because it is not a regulated market that is made periodic inspections is vulnerable to this volume manipulation, bad quality of provision of services and high frequency of scam cases. And there are still some people who argue that governments should not interfere in this crypto market because it will allow people to be restricted their freedoms, but I do not agree with that thought. without interference from governments, it will not be possible to inspect and take action in case some exchange manipulates its volume

Hamphser

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Quote from: figmentofmyass on March 28, 2019, 02:25:22 PM

Quote from: coinplus on March 28, 2019, 11:42:57 AM

I think faking wouldn't get you that far in business though, like yeah you would get some users seeing your high volume but at what point can you keep it up, you can't do that forever.

i think it works much better in a smaller market without many competitors, where it's not the norm. in 2015-16, huobi and okcoin were obviously faking volume but they still rose to being the dominant/leading exchanges in the world. it was a much smaller market back then.

but today, exchanges like huobi and okcoin are a dime a dozen. the exchange market is not only over-saturated, but over-saturated with exchanges that fake their volume. it's just not as effective as it used to be. people aren't gonna switch to no-name exchanges now just because of inflated volume numbers. reputation and branding is much more important.

It doesnt really work these kind of tactics nowadays yet as you said people would just simply stick to those reputable ones rather than switching into new that they saw due to volume numbers.
I agree on your point about huobi and okcoin.

We have seen a number of news about faking volumes thats why im aint suprised if there are new volumes would do such act once again.

figmentofmyass

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Quote from: coinplus on March 28, 2019, 11:42:57 AM

I think faking wouldn't get you that far in business though, like yeah you would get some users seeing your high volume but at what point can you keep it up, you can't do that forever.

i think it works much better in a smaller market without many competitors, where it's not the norm. in 2015-16, huobi and okcoin were obviously faking volume but they still rose to being the dominant/leading exchanges in the world. it was a much smaller market back then.

but today, exchanges like huobi and okcoin are a dime a dozen. the exchange market is not only over-saturated, but over-saturated with exchanges that fake their volume. it's just not as effective as it used to be. people aren't gonna switch to no-name exchanges now just because of inflated volume numbers. reputation and branding is much more important.

Huskarls

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Actually there is still a lot of exchange that I think there is still manipulation, like yesterday 28th March 2019. I tried arbit coin because 6 hours had a price gap that was quite far, but when the coin just landed, the price suddenly dumped. I also see some suspicious trade on the trade history

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