Fake trade volumes | Bitcointalksearch.org

freedomgo

legendary

Activity: 3318

Merit: 1185

Playbet.io - Crypto Casino and Sportsbook

Quote from: retnoanjani on September 17, 2019, 01:25:39 AM

Quote from: Sexaphiliac on September 16, 2019, 06:59:24 AM

Fake trade volumes on most exchanges is used to trick algorithms and listing sites sites to rate exchanges higher. This faking of volume makes projects think it's a high volume exchange and list on there for exorbitant fees. Transparency within the cryprocurrency exchanges is necessary in order to protect traders from exchanges that wash trade and could potentially scam users.

fake volume, really frustrating. it's like a mirage that looks good but it's nothing when we put a sell order at the price available, then it disappears. that's why I always choose a compatible exchange, if I don't have to, I won't use an exchange like that.

When it comes to choosing an exchange, you need to choose an exchange that shows the real volume, and of course you can find it especially if you experience it. Fake volume is happening in many exchanges in the market now, that is why if we look at the exchanges in the list here https://coinmarketcap.com/rankings/exchanges/, we will find unpopular exchanges that is surpassing the popular ones in terms of volume.

If you know this is happening, you will surely have an idea on how to spot a good exchange that will fit your needs.

retnoanjani

full member

Activity: 630

Merit: 100

Quote from: Sexaphiliac on September 16, 2019, 06:59:24 AM

Fake trade volumes on most exchanges is used to trick algorithms and listing sites sites to rate exchanges higher. This faking of volume makes projects think it's a high volume exchange and list on there for exorbitant fees. Transparency within the cryprocurrency exchanges is necessary in order to protect traders from exchanges that wash trade and could potentially scam users.

fake volume, really frustrating. it's like a mirage that looks good but it's nothing when we put a sell order at the price available, then it disappears. that's why I always choose a compatible exchange, if I don't have to, I won't use an exchange like that.

Robert Hood

newbie

Activity: 2

Merit: 0

Its really an alarming for us fake trade volume!! as such kind of initiative makes us confusion as well as threat for small investors in this market. expect better feedback from expert marketer regarding that Angry

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: Rehmanchoudhary5 on August 01, 2019, 10:49:13 AM

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

We cannot change that from them because exchangers wanted their site to have activities so even
If the volumes are fakes it’s ok with them what is important is the benefits they think favored them though the it will cost them bad reputation $in future

I have seen the case of Coinmarketcap recently when they are being accused of faking the volume and it’s really annoying because their site is hat I’ve used for price observation when I was new here

Lexurdania

member

Activity: 840

Merit: 10

Quote from: Rehmanchoudhary5 on August 01, 2019, 10:49:13 AM

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

In my opinion, fake volume should be avoided if the transaction value in the cryptocurrency market is always increasing and new investors keep coming. Small exchangers always fake the value of their transactions as possible to attract lots of new customers and projects to be listed on their exchangers

Sexaphiliac

copper member

Activity: 122

Merit: 0

Fake trade volumes on most exchanges is used to trick algorithms and listing sites sites to rate exchanges higher. This faking of volume makes projects think it's a high volume exchange and list on there for exorbitant fees. Transparency within the cryprocurrency exchanges is necessary in order to protect traders from exchanges that wash trade and could potentially scam users.

Prettyme

full member

Activity: 364

Merit: 100

Quote from: Rehmanchoudhary5 on August 01, 2019, 10:49:13 AM

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

Since bitcoin boomed last 2017 a lot of altcoins now have been created even its not that worth to invest. They fake everything just to encourage investors. That's why these days we need to be aware.

Paulinerims

jr. member

Activity: 193

Merit: 7

The fake volume is normally made by the exchange to present itself as a popular platform among traders which allows them to charge more fees for coin listing. it's definitely putting a bad light on the project. Every trader or crypto enthusiast knows that there is something in between if a small exchange in generating massive amount on daily volume of a never heard before token.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: Xanxus024 on September 15, 2019, 03:17:54 PM

There's a lot of exchange that has a fake volumes and they not directly called it a bot but they will told to the traders that is a market maker.

If there is no regulatory body looking over what the exchange is doing all these exchanges will come up with shady practices to have an upper edge over its competitor and that in turn attract more customers as the only thing anyone look in an exchange is liquidity and i am sure in a couple of years we will get rid of these fake volumes and if someone shows fake volumes they will get heavy penalty.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

Fake volumes are one of the problems that CMC currently facing because when the coins listed on their site have a fake volume, investors might blindly invest their money on that coins and when they do the coins will sudden go to dump.
it is because the was only a one man show and the exchanges who listed that coin can be a suspect as well.

ohyeahhaha122

jr. member

Activity: 267

Merit: 7

entry into this market requires wisdom and intelligence to invest, but the opportunity is often not obvious, the trading volume is a part of it.

The Cryptologist

full member

Activity: 546

Merit: 100

It is unethical for any exchanges that are doing it but whenever I ask those people that have their coins on it that got pumped then they will say that it is not true. So even if it is fake trade volume, people are going to deny it and enjoy their profits because they are directly having the benefits. A major example is okex which is leading the fake volume and wash trading but people are still participating their IEOs because it always give roi instantly.

Xanxus024

full member

Activity: 434

Merit: 104

There's a lot of exchange that has a fake volumes and they not directly called it a bot but they will told to the traders that is a market maker.

serjent05

legendary

Activity: 3052

Merit: 1281

Get $2100 deposit bonuses & 60 FS

Quote from: Rubick99 on September 15, 2019, 12:06:37 PM

That fake data can be manipulated by exchanger's team, so they can freely to create trade volumes even in major altcoin. It usually happens in a newly listed coin that the dev pay exchanger to manipulate it. To avoid this case, you just trade on recommended exchange or your favourite exchange and don't ever-interesting on the newest listed coin.

If you read the reply before you, they explain how these fake volume are generated. It is better to have a group of people to manipulate a coin's trading volume than the exchanges itself. Having a group of people trading with each other will look like more legit than exchanges doing them since different people trading means different traffic is accessing the exchange site. The more traffic these group creates in trading the more legit their trading looks.

Quote from: Rehmanchoudhary5 on August 01, 2019, 10:49:13 AM

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

They do this fake volume for the reason of increasing the exposure of their token/coins. If you are one of the top trading volume in an exchange, your cryptocurrency name will be flashed at the top of the site where it shows its top trading volume list. Traders will then see the cryptocurrency and might take interest to invest on it. Others do it to be listed on CMC for further exposure.

Rubick99

member

Activity: 484

Merit: 11

That fake data can be manipulated by exchanger's team, so they can freely to create trade volumes even in major altcoin. It usually happens in a newly listed coin that the dev pay exchanger to manipulate it. To avoid this case, you just trade on recommended exchange or your favourite exchange and don't ever-interesting on the newest listed coin.

joelsamuya

member

Activity: 532

Merit: 41

https://emirex.com

Quote from: Bes19 on September 13, 2019, 03:27:00 AM

It really happens in some exchange big or small. They manipulate it so people would buy that coin or token, the project might also have a responsibility on that to gain more profits. There are also group of people who manipulate the market by buying and dumping the coin/s and nowadays it seems normal.

Manipulations are usually done with a goal or purpose and in the case of exchanges they are enticing more business more revenues and of course more profits. However, this is not helping the whole cryptocurrency industry especially if we have to look into the long-term prospect. There is a need to stop this malady as it is the industry that will actually suffer and such manipulations of data can victimize many investors and traders leading them into wrong conclusions in their decision making. There should be penalties against exchanges proven to allow data manipulations to happen.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

Quote from: Zemomtum on September 14, 2019, 11:52:34 PM

The major causes of this are either from unreputable exchanges that are not governed by any regulation or the team behind the project itself that want to trick unsuspected newbie in order to dump their token.

All the possibilities that it will come out in our mind are negatives. No other reason behind that action is to strick and look attractive. And for us who know already about this, there is no reason why we've been a victim with them and most probably they look for the newcomers.

With all this fraud and scamming actions, it only turning them back as they are just ruining their reputation instead of gaining more market attraction.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: Rehmanchoudhary5 on August 01, 2019, 10:49:13 AM

I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.

There are two different methodologies used for faking trade volumes. The first is the easiest one. The promoters of shitcoins contact the smaller exchanges and in collusion, they rig the order books. But this is not a very effective method, as coinmarketcap has now devised methodology to identify such coins and exclude them from their platform.

The second methodology is to contact "specialists" who can get your coin listed in coinmarketcap. The exchange owners are not involved here, and the specialist will manipulate the trading volume using bots and this can be very difficult to detect. As per reliable sources, the fee charged for this "service" can range from $10,000 to $20,000 per coin. More details can be found here:

https://www.coindesk.com/for-15k-hell-fake-your-exchange-volume-youll-get-on-coinmarketcap

Zemomtum

full member

Activity: 1316

Merit: 104

CitizenFinance.io

The major causes of this are either from unreputable exchanges that are not governed by any regulation or the team behind the project itself that want to trick unsuspected newbie in order to dump their token.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: Leo on September 14, 2019, 03:02:46 PM

The exchange are also responsible for this, they tend to create fake volume so as to draw the attention of investors that their exchange has a high trading volume,

So it make them fraudulent in your opinion? If they themselves are creating fake volumes?
Should investors stay away from that exchanges?

Quote from: Leo on September 14, 2019, 03:02:46 PM

I've seen lots of exchange that does not reach the standard of Binance exchange, and they have a higher exchange volumes than Binance due to the fake volume being created

There's no way to catch Binance at this point, if they are levering their exchanges on Binance platform then there's really something wrong with that.

Topic: Fake trade volumes (Read 640 times)