Topic: How Many People Are Really Trading Cryptocurrency? - page 2. (Read 561 times)

Exactly those are trash exchanges plagued with bots on the altcoin pairs. Nothing to see here really.

It depends what are you waiting from cryptocurrencies trading. People always buying & selling cryptocurrencies. It is contiune just right now also. 24/7!

But some of these not for real trading because trading contest sometimes getting volume for some coins. Also manipulation can effect it.

I think you are wrong if fake volume doesn't affect the market. Their goal is to make a fake volume to get the top position so that many traders and investors glance at their coins. In my opinion this is a cunning way of competition, which should be the better coins at the top but be defeated by shitcoin who do fake volumes.

Okay let's read this news https://www.forbes.com/sites/cbovaird/2019/03/22/95-of-reported-bitcoin-trading-volume-is-fake-says-bitwise/#69b295f86717

As of trading, I don't think the number is genuinely increasing because there is manipulation going on for some exchanges to grow and become popular. I think rather that more people are hodling than trading the coins because of fear from the bear experience. The expectation is that price is going to bull, so why trade after all 

Old news and no new info. And then why bother? Because the price rose a little and every blog and new site expects more traffic?
Yes, the volumes are manipulated. Most have learned to live with it. It's the volumes, not the actual price, you know...

Of course the reporting is wrong - higher reported volumes means that more would use that exchange and more users means more money from fees.
But if the volumes are highly incorrect, the liquidity will be unsatisfactory and the traders will find another exchange.
Again, we have learned to live with it. This will continue to go on until proper regulation will be imposed on (all!) the exchanges.

I strongly agree this isn't some well known exchange to start off and the number of traders couldn't really be known right now,
We have so many exchange and so many people who are using them not to mention that there are some people who register more than one account and use all of their alt-account to trade.

I am doing stock trading and forex trading for 10 years now on virtual money. I quit forex trading 3 years ago.
I have never trade on real money. If one wants to learn to trade one needs 15 to 20 years to do this good.

I am not trading Bitcoin. Bitcoin is a good currency, is the money of the future. Until 10 years ago when Bitcoin was "invented" we had no food, we had no jobs, we had no industrial production. In 10 years of PayPal and Bitcoin the agricultural and industrial production has grown tremendously.

 It is the merit of PayPal, it is the merit of Bitcoin that today we prospere, that people have good jobs and wishes for a good life that has not existed until now.


I guess that not many people trade Bitcoin. People use Bitcoin to buy everything they want to, people hold Bitcoin because is so good so that its value is going up 20 times every 3 to 5 years.  

i still don't get why people are so concerned about the percentage of fake volumes reported by exchanges. it doesn't change anything about the market at all. and they are all doing it to some extent and they are all doing it to compete with each other so that they can remain higher on the lists sorted with their daily volume.
for example if they report some altcoin to have $10 million daily volume when it has only $1000, that coin won't become any better by magic. and it won't get pumped because of it either.

coingecko is likely to take over with information available on the website. CMC is still enjoying its old fame with little development, they could be so careless to observe that they can be over taking.

Fake data will sure surface when the said exchange would inform the public that they have that kind of volume, We can say that there are a lot of people that are really trading but we can not gather up the real data or even the estimate data for it if the exchange itself would cover up the real volume on their part, And if this article really is real then there really is a series that exchange would make up their own number so they can encourage more traders in their sites.

They have admitted that something is definitely wrong. Check this out:
https://cointelegraph.com/news/coinmarketcap-will-alter-listing-metrics-after-latest-fake-volume-research
https://openmarketcap.com/ : Website that gets rid of fake exchange volumes!

I agree. It is a pretty smart tactic to attract users over the long term. No one can really check for sure and investors get tempted to trade there as long as the exchange itself isn't a scam.

I echo the sentiments here, there is no way that we will have the data to say how many people are really trading in a certain time frame. The good thing is that this market never sleeps, when the other side of the globe is resting, the other side is preparing to make its trading run.

As far as wash trading or fake volumes, there has been a reports already and it's no secret that some high and mid level exchanges have been practicing this fraudulent act for years.

There is a large database is available that shows the increasing volume of the cryptocurrency users among which the ratio of the Bitcoin user is high which means the increasing impression of the cryptocurrency among the society is rapid and effective.

We will never know exactly how many people are trading Bitcoin at any given time, because many people trade on multiple platforms and a lot of these exchanges fake their trading volumes. We also have OTC platforms, where larger transactions are done and loads of exchanges that does not adhere to KYC/AML requirements.

We are also not considering how many P2P trading are done on Bitcoin meetups and just person to person transactions in general. Exchanges are also not keen on revealing this data, so you will seldom see statistics being released from these platforms. 

We will never know the exact number of people that are trading crypto.Many people use trading bots,the exchanges are faking volumes and many people trade crypto outside the crypto trading platforms.
The only solution to fight the fake trading volumes are the decentralized crypto exchange platform,where every transaction will be transparent.

Anyone user help me to invest in Cryptocurrency. I have to start trading in Cryptocurrency, I never did before TelltheBell and I am new here. ANYONE Helps?

There are fake volumes to show them among the top list of exchanges available for trading cryptocurrency. This came to light years back when an inspection was made by people's bank of China, and by that time market fell very low due to the same. I use hitbtc for my trading needs of few coins that are listed to it. Though it has got low trading volume, the trade used to get accomplished. This way they're good to trade, but they might add more volume to keep them on the top. Everything into blockchain will give transparency in this regard.

looking at 3 random exchanges that don't even have a bitcoin (versus fiat) market is hardly a good metric to talk about the entire cryptocurrency market and specially a topic that is worthy of posting in the "bitcoin board". if you want to talk about altcoin fake volumes them move this to the altcoin board.
not to mention that all these percentages are the guesses of these companies that were trying to make a name for themselves, practically advertising their services by bullshitting about exchanges and their volumes.

Exchanges have been manipulating with fake volume data for a long time. There isn't any mechanism in place to track the actual number. I read in one of the topics on BTT a few days back (I think it was in the month of May) that Coingecko will be introducing a Trust Score to combat Fake exchange volume data. How successful it was? I do not have any Idea.

At least a small website like Coingecko is trying to resolve this important issue. Whereas Coinmarketcap has done nothing.

Coinmarketcap can actually add something like this based on the user experience on their own website. I know there are many loopholes in such a system but, still, they can initiate something like this as they are more known in the crypto community.  

I found this article extremely interesting. It raise some solid points about How Many People Are Really Trading Cryptocurrency.

There's a lot of fake data in the market so finding reliable data source is pretty difficult.



After a disappointing 2018, crypto markets are booming once again.

Backed by institutional investors, growing numbers of individual enthusiasts, and broad support for its underlying technology, the blockchain, the entire crypto sector is seeing a resurgence.

According to data collected by CoinMarketCap, the collective crypto cap has nearly tripled since the start of the year. Led by Bitcoin (which has also tripled its value since its low point in 2018) cryptocurrencies are outperforming many other investment assets, including stocks, bonds, gold, and oil.

For those who witnessed crypto’s meteoric rise in 2017, this year’s activity might seem incredibly familiar.

Naturally, now that cryptos are once again an intriguing investment vehicle, exchanges are experiencing a deluge activity. Daily trading volumes have exceeded $70 billion, up from just $18 billion at the start of the year.

At the same time, some are questioning the legitimacy of this data, contending that it may be exaggerated or overblown. With individual and institutional investors alike flooding into crypto markets, now is an excellent time to evaluate the trading landscape and to consider how crypto trading really gets done.

Most importantly, it’s the right time to evaluate how these factors can help investors capitalize on the most recent crypto boon.


Full article here
https://www.cryptohopper.com/blog/240-how-many-people-are-really-trading-cryptocurrency