"False crypto exchange traffic volume?"

princerepon

full member

Activity: 994

Merit: 101

Quote from: Rodeo02 on April 07, 2020, 12:46:35 AM

Quote from: princerepon on April 05, 2020, 05:53:46 PM

In that case you have to choose trust able or well known exchange for your trade. It's not new that shady exchanges provide false traffic volume. And it's also truth that there are no specific solution for that besides ignoring them. Since 2017 we are facing tons of shit exchanges and it's not going to stop. So it's a better idea to be careful our self before choose exchange for our trade.

This decision will make it easier for you to use only known exchange. We have many exchange now that have a fake volume And you can't blame them because that's also the way to exchange to have more user's registered in this exchange.

It wil not work always but they are actually persons registered in that exchange when they see it on the top volume exchange.

I can understand you opinion. But all though for their fake volume they register fake people with doing so called airdrop. I saw many people take that chance and use it wrong way, like make hundreds of referral alone which are all fakes. So i can't agree with that those are actual register besides bot. And if i'm not wrong then i think only register quantity don't carry a fake volume. So doesn't matter why it's happening by them it's not worth it.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: Exolix on April 14, 2020, 05:36:52 AM

Quote from: hulla on April 13, 2020, 04:17:21 PM

@Exolix, glad you notice this because most people in the crypto territory believe capital market was the only price and coin ranking platform that listed project fake volume while all others dont have intact trade volume and ranking. But, what people dont understand is that exchange sites are the most cause of fake volume listing we're experiencing these days.
@rexxarofmoknathal, i dont understand your stance but alexa rank should enough to judge if the information provided by the platform said is correct.

I would like to receive a comment from coingecko. Why do we see information in this format and what affects it.

Waiting for a reply or comment from coingecko concern this statement will be waste of time.
I dont understand what you mean when you said "Why do we see information in this format"
The last time i check the result and rank provided by alexa ranking is enough to the traffic of a site.

Exolix

copper member

Activity: 98

Merit: 2

Secure and Anonymous crypto exchange service

Quote from: hulla on April 13, 2020, 04:17:21 PM

@Exolix, glad you notice this because most people in the crypto territory believe capital market was the only price and coin ranking platform that listed project fake volume while all others dont have intact trade volume and ranking. But, what people dont understand is that exchange sites are the most cause of fake volume listing we're experiencing these days.
@rexxarofmoknathal, i dont understand your stance but alexa rank should enough to judge if the information provided by the platform said is correct.

I would like to receive a comment from coingecko. Why do we see information in this format and what affects it.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: rexxarofmoknathal on April 13, 2020, 01:34:22 PM

Quote from: Exolix on April 13, 2020, 08:11:03 AM

Quote from: coingecko on April 05, 2020, 04:25:47 AM

We cross check the volume that these exchanges are reporting versus the website traffic that they are getting . You can see it at https://www.coingecko.com/en/exchanges

An exchange with large volume and low traffic would be a negative signal

I read about "Trust Score 2.0: CoinGecko Updates" and everything is logical and understandable, but then I looked at the table. Why does the Huobi Global exchange have such a difference between the “24h Volume (Normalized)” and “24h Volume" data?

Funny you ask this since I don't think many people have noticed it. In any case, it seems that its all to do with the volume being higher than the benchmark as only then the normalisation will be applied to correct for the discrepancy between the two. This normalisation involves multiplying the volume to the traffic estimate against the benchmark, thus driving the volume downwards. You can read more about it from this source addressing the exact same issue: https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data

@Exolix, glad you notice this because most people in the crypto territory believe capital market was the only price and coin ranking platform that listed project fake volume while all others dont have intact trade volume and ranking. But, what people dont understand is that exchange sites are the most cause of fake volume listing we're experiencing these days.
@rexxarofmoknathal, i dont understand your stance but alexa rank should enough to judge if the information provided by the platform said is correct.

Harlot

hero member

Activity: 1806

Merit: 672

This are only done by shady crypto exchanges, they inflate the volume so that they somehow influence the market and make it look like their exchange is one of the active ones. Aside from that they also put up fake bids and ask so they can also manipulate the market from it as well. But if you will prevent joining and trading in these kinds of crypto exchanges you can be confident that what they are inputting are real time data without any dirt to it. The SEC and central banks of countries are also strict now when it comes to data manipulation and all it takes is just one wrong move for them to be brought down so I really trust that big exchanges wouldn't do this technique at all.

rexxarofmoknathal

sr. member

Activity: 980

Merit: 260

Quote from: Exolix on April 13, 2020, 08:11:03 AM

Quote from: coingecko on April 05, 2020, 04:25:47 AM

We cross check the volume that these exchanges are reporting versus the website traffic that they are getting . You can see it at https://www.coingecko.com/en/exchanges

An exchange with large volume and low traffic would be a negative signal

I read about "Trust Score 2.0: CoinGecko Updates" and everything is logical and understandable, but then I looked at the table. Why does the Huobi Global exchange have such a difference between the “24h Volume (Normalized)” and “24h Volume" data?

Funny you ask this since I don't think many people have noticed it. In any case, it seems that its all to do with the volume being higher than the benchmark as only then the normalisation will be applied to correct for the discrepancy between the two. This normalisation involves multiplying the volume to the traffic estimate against the benchmark, thus driving the volume downwards. You can read more about it from this source addressing the exact same issue: https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data

Exolix

copper member

Activity: 98

Merit: 2

Secure and Anonymous crypto exchange service

Quote from: coingecko on April 05, 2020, 04:25:47 AM

We cross check the volume that these exchanges are reporting versus the website traffic that they are getting . You can see it at https://www.coingecko.com/en/exchanges

An exchange with large volume and low traffic would be a negative signal

I read about "Trust Score 2.0: CoinGecko Updates" and everything is logical and understandable, but then I looked at the table. Why does the Huobi Global exchange have such a difference between the “24h Volume (Normalized)” and “24h Volume" data?

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: CRYPTO TRON on April 04, 2020, 05:38:42 AM

Where is all this fake crypto exchange traffic going?
Do you expect that crypto community will ever get a real impression of the traffic volume of the exchanges?
With few exceptions, most of them show fake traffic, even up to 5000x !

Regards,
crypto-tron.com
Denis Lukavačkić COO

Deal with it since this had been always an issue here on crypto or an unregulated market where volumes can really be faked out because this determines or would correlate on an exchange reputation.
You can eventually spot out thought on what exchange do have that organic volume or who doesnt have.Always verify when you do see such situation because if you do let your eyes fool you
then for sure you would lost up money and also finding the best or current popular exchange isnt that hard yet you can directly differentiate them.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Unregulated market is both great for some reason but also brings in bad stuff like this as well.

I would rather be unregulated so that government doesn't intervene with my money anymore, they have been doing that for decades and I have never really seen anyone get a prosperity aside from the government officials themselves, and this is not just one nation, all around the world when you look at it politicians are usually richer than the public, and friends of politicians are even richer, all of our tax money goes to make some other person richer when it should have been used to make all of us equally better and increase the bottom line.

However wanting to be unregulated and independent from the government does come with a cost, which is having these kind of exchange problems.

ScamViruS

hero member

Activity: 1876

Merit: 721

Top Crypto Casino

Most exchanges try to attract traders by showing fake volumes. Most of the daily volume that is displayed in cmc is fake. Even current top exchanges show fake volumes, in certain coin/token's. Since the cmc can be sent to the top list by sending fake data, the exchanges come to the top list with fake volume. As a result, Newbie traders are face various problems.

darewaller

hero member

Activity: 2926

Merit: 640

The real question that I keep asking myself is, how are they paying taxes? I mean surely if they make their website look like there is a ton of trade going on, that should mean they are also making a ton of profit as well right? Since more trades equals more trading fee which means the exchange should have higher revenue, at least on paper. So, when it comes down to paying taxes, does nobody from taxing branch of that nation take a look at that exchanges trading volume?

I mean if they are saying there is 1 million dollars worth of trade to taxes but they are faking their volume to 50 instead, then taxing branch should ask you are telling people 50, why are you telling us 1. That would actually solve a lot of the fake volumes since those places will be scared to pay the tax they claim their volume is, instead of the real one.

CRYPTO TRON

newbie

Activity: 22

Merit: 0

Quote from: pankaj1234 on April 12, 2020, 05:20:30 AM

There are so many exchanges are going on with false traffic volume. I have gone with these exchanges and experienced some problems. Now I am going to tell one or two experienced with you. Baz token in etherflyer is not from traders it is false trading because there is no buyer and seller on the price they executed.when you trade their ongoing price will fail. Same case with p2pb2b exchange when I trade P2PS coin. Pgpay coin price is different from probit exchange.so today exchanges are really not doing great things.

Thanks for info !

pankaj1234

copper member

Activity: 504

Merit: 0

There are so many exchanges are going on with false traffic volume. I have gone with these exchanges and experienced some problems. Now I am going to tell one or two experienced with you. Baz token in etherflyer is not from traders it is false trading because there is no buyer and seller on the price they executed.when you trade their ongoing price will fail. Same case with p2pb2b exchange when I trade P2PS coin. Pgpay coin price is different from probit exchange.so today exchanges are really not doing great things.

goaldigger

sr. member

Activity: 2422

Merit: 357

Shit exchanges will always do this thing just to lure many users so better to use the top exchanges, but of course its not guaranteed that the top exchanges are honest with the volume, you must still be careful on that. Using the best exchange can affect your trading, and you must have a confident on that so you can trade without any hesitation.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: StephenJH on April 07, 2020, 06:24:37 PM

The exchanges manipulate the coin prices and there is no regulation for measuring the real vs fake data. Lack of regulation makes it hard to track and request the real data, IMHO. Probably Binance will help to fight against the wash trading after buying CMC.

We cant still be assured if CMC would really be changed up much specially now that they had been bought by Binance.Lets see if they do make up some changes
in regards to that issue and that would really be great for everybody if these fake volume and numbers would really be get rid of but honestly it isnt really that
much of an issue yet experienced eyes can easily detect which one is fake and which is isnt by just basing on exchange reputation alone.

StephenJH

hero member

Activity: 1470

Merit: 521

No more Rekt and Bust

The exchanges manipulate the coin prices and there is no regulation for measuring the real vs fake data. Lack of regulation makes it hard to track and request the real data, IMHO. Probably Binance will help to fight against the wash trading after buying CMC. CMC ranking is not my favourite,so I will check other alternatives for my own altcoin portfolio listing.

Timmzzy

member

Activity: 785

Merit: 34

SOL.BIOKRIPT.COM

Most exchange platforms use this just to bring in people to the site and also use it as a means to steal people money. I know few exchangers that have come in contact with such experience. Never the less we just have to be careful of exchanges we send our Money to and on the second hand do proper research.

ladyfox

full member

Activity: 155

Merit: 100

Quote from: CRYPTO TRON on April 04, 2020, 05:38:42 AM

Where is all this fake crypto exchange traffic going?
Do you expect that crypto community will ever get a real impression of the traffic volume of the exchanges?
With few exceptions, most of them show fake traffic, even up to 5000x !

Regards,
crypto-tron.com
Denis Lukavačkić COO

I'm well aware that this is happening and which is why I dont believe the volume/traffic numbers that exchanges show. There are a few reports about it as well. Best to just trade in the exchange you trust but keep most of your personal funds in your personal wallet.

Wh00re

newbie

Activity: 122

Merit: 0

Exchanges fakes volume, because they can get away with it, it's that simple. Even the top exchanges fakes trades, and bots make a good majority of the total trade volume as well.

Real trading volume is seen on DEX's which isn't prone to this kind of manipulation, as we've seen lately more and more people starts trading on DEX's which is a good sign, that decentralization is here to stay.

I've personally traded on the Blocknet DEX, which works pretty well, perfect place for OTC trades, as it's completely trustless to set up buy and sell orders amongst each other.
You can read more about the DEX itself here: https://blockdx.com/

TheGreatPython

sr. member

Activity: 2660

Merit: 339

That is the reason why reputed exchanges still hold almost 90% of the user base and small ones combine together and struggle to even attract with 10% of the traders. This is because those unregulated and illegal exchanges are not just putting up fake volume but also the trader is always under risk of loosing their money if the exchange turns scam they can do nothing.

I feel like apart from a few exchanges like polo, binance and bittrex most of the small exchanges are just showing fake volumes to sometimes make a coin look good, I mean ICOs can easily pay them to hype their coins and make people buy it and later dump it. Nothing we can do to stop these fake volume builders but surely we can be smart enough to avoid such exchanges.

Topic: "False crypto exchange traffic volume?" (Read 319 times)