Is CMC still safe at all ?? - page 2.

IVEXO

jr. member

Activity: 574

Merit: 2

Quote from: SistaFista on April 20, 2019, 03:08:57 PM

Quote from: cytpoway121 on January 11, 2019, 07:33:34 AM

I’m starting to worry about coinmarketcap lately, after series of deceit and spammish activity
The following are my observed reasons

1. Many dead projects still on cmc

2. Market cap is fake Cox many projects which have seized to trade adds up to the market cap

3. Cmc doesn't verify authenticity of projects before listing it

4. CMC now have ads of fake icos on their website thereby leading people to scammers

Funny enough so many NOOBS believe anything and everything dey see on cmc to be authentic

Let me stop here and anyone against it should bring a proof to counter it
Or offer more options

Well, at least they have some requirements for coin or token to be listed on their site such as daily trading volume.
It means a brand new coin cannot be listed on Coinmarketcap unless they have listed on some exchanges to gain volume.
Many coins dead in coinmarketcap because they were not developing anymore.

Yes I do agree with you and which is why coinmarketcap also have to delist all the tokens that are no longer developing and are void without volume

That form of clearing off spam projects will renew a fresh revolution for coinmarketcap

e@symode

full member

Activity: 616

Merit: 100

I would not believe this resource. Therefore, I think that these resources as a whole are centralized, because these resources can unambiguously be manipulative. All that today has the capacity for manipulation should be avoided.

edmundduke

legendary

Activity: 1624

Merit: 1007

Well ofc it is still worth it. It still provides valuable info to those who are trading, just another tool in the arsenal. It is also good for discovery, for example if you dont know where a coin is traded, it will show you where you can find the markets.

SistaFista

sr. member

Activity: 1638

Merit: 251

Hexhash.xyz

Quote from: cytpoway121 on January 11, 2019, 07:33:34 AM

I’m starting to worry about coinmarketcap lately, after series of deceit and spammish activity
The following are my observed reasons

1. Many dead projects still on cmc

2. Market cap is fake Cox many projects which have seized to trade adds up to the market cap

3. Cmc doesn't verify authenticity of projects before listing it

4. CMC now have ads of fake icos on their website thereby leading people to scammers

Funny enough so many NOOBS believe anything and everything dey see on cmc to be authentic

Let me stop here and anyone against it should bring a proof to counter it
Or offer more options

Well, at least they have some requirements for coin or token to be listed on their site such as daily trading volume.
It means a brand new coin cannot be listed on Coinmarketcap unless they have listed on some exchanges to gain volume.
Many coins dead in coinmarketcap because they were not developing anymore.

Ifemini

member

Activity: 690

Merit: 12

There are consequences for every action

Going through the comments I think even if it is not cmc job to check if a project is shit or scam

I think coinmarketcap doing adverts for a scam ico is not good enough
And also; there are glitches too

A token can worth 1000$ on coinmarketcap then shit on exchange platforms; what causes that ??

btccrusher

member

Activity: 742

Merit: 12

CMC is a platform for listing projects that have a minimum trade volume with more than one exchange listed. CMC does not do a job to verify projects authenticity. Much like an online platform where people can buy ads. Why do you think CMC put ads manually? It can happen that CMC manage all things automated, so anyone can place a banner on their site. I'm not advocating the CMC, but I just see it is only a listing site and people should not consider them as an investment idea.

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: babarian on April 13, 2019, 10:32:26 AM

now everyone believes that the coin that has been registered with Coinmarketcap is a good coin and is believed to have a bright future, but in reality some coins that have been listed on the coinmarketcap are removed from the list. therefore coinmarketcap is not a benchmark for coins that have a good future.

Illusion makes it easy to speculate and make money with wrong beliefs but some tools can let us elaborate on the essential needs in these arguments. Depending on the coin's market cap some analyze site can ignore it and take another one for review. Competition makes it hard to level up.

Cacingkemi

hero member

Activity: 1484

Merit: 516

Quote from: babarian on April 13, 2019, 10:32:26 AM

now everyone believes that the coin that has been registered with Coinmarketcap is a good coin and is believed to have a bright future, but in reality some coins that have been listed on the coinmarketcap are removed from the list. therefore coinmarketcap is not a benchmark for coins that have a good future.

The best coin is already on the top coin market page in CMC, the whole data is still counting all crypto basically only the overall accumulation IMO is not a coin that has a future too, but which has been listed on the exchange only.

beeelzebub

full member

Activity: 602

Merit: 101

Bcnex - The Ultimate Blockchain Trading Platform

I don't think CMC can be safe or unsafe.

It is just a listing website. There is lots of shitcoins yes but it is part of the crypto. Lots of people has countless shitcoins and they are using to check the price of it.

Micerker

full member

Activity: 593

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BBOD The Best Derivatives Exchange

Quote from: cytpoway121 on January 11, 2019, 07:33:34 AM

I’m starting to worry about coinmarketcap lately, after series of deceit and spammish activity
The following are my observed reasons

1. Many dead projects still on cmc

2. Market cap is fake Cox many projects which have seized to trade adds up to the market cap

3. Cmc doesn't verify authenticity of projects before listing it

4. CMC now have ads of fake icos on their website thereby leading people to scammers

Funny enough so many NOOBS believe anything and everything dey see on cmc to be authentic

Let me stop here and anyone against it should bring a proof to counter it
Or offer more options

Many Altcoins are not liquid but have no official notice or some have not yet been censored, so it has not removed from CMC. Also, CMC accepts ADS if anyone accepts the fee.

babarian

full member

Activity: 658

Merit: 100

now everyone believes that the coin that has been registered with Coinmarketcap is a good coin and is believed to have a bright future, but in reality some coins that have been listed on the coinmarketcap are removed from the list. therefore coinmarketcap is not a benchmark for coins that have a good future.

Rafiqul

member

Activity: 1358

Merit: 10

www.cd3d.app

Quote from: petrcoin on January 11, 2019, 08:45:30 AM

Coinmarketcap is merely a website which takes prices from exchanges and list them.

So, i don't think there is any problem about safeness. Problem is fake exchanges giving out fake numbers. Mostly fake volume.

Yes, I agree with your opinion. Coinmarketcap is only a platfrom where they shows information. Investors get information about cryptocurrencies here. It collects crypto prices from exchanges and list them.

chocopapaya

full member

Activity: 686

Merit: 131

Well, I see CMC kind of like wikipedia.
It is great for general information and knowledge but a terrible place for accurate, legitimate info.

All CMC does is use an algorhythm to gather data to be displayed.
So it isn't really cmc that is scamming, it is just that crypto value is much more complicated than just gathering data.
And since it averages it all out and bases the value off of btc, there are innacuracies as well.
As far as old, dead coins being listed, you need to realize that blockchain tech never really dies.
It is a distributed open source ledger that anyone can use.
so as long as even one person is mining or maintaining nodes, it doesn't ever die.
Even if no one does that, it can be picked up anytime

TooDumbForBitcoin

legendary

Activity: 1638

Merit: 1001

Quote from: cytpoway121 on January 11, 2019, 07:33:34 AM

I’m starting to worry about coinmarketcap lately, after series of deceit and spammish activity
The following are my observed reasons

1. Many dead projects still on cmc

2. Market cap is fake Cox many projects which have seized to trade adds up to the market cap

3. Cmc doesn't verify authenticity of projects before listing it

4. CMC now have ads of fake icos on their website thereby leading people to scammers

Funny enough so many NOOBS believe anything and everything dey see on cmc to be authentic

Let me stop here and anyone against it should bring a proof to counter it
Or offer more options

You can use an alternative resources. Guys from openmarketcap done a great work for example. You even can watch for data difference in comparison to CoinMarketCap https://openmarketcap.com/exchanges/difference

inanilujimi

sr. member

Activity: 1862

Merit: 259

I think you have to understand what CMC is for its use. Don't ever make CMC a relevant source when you want to invest.

pushups44

sr. member

Activity: 854

Merit: 281

Coinmarketcap lists a lot of coins, but then again there are stupid traders and investors who keep on buying these coins. My main issue right now with CMC is that they should exclude fake volumes from shady exchanges.

Jose Mourinho

sr. member

Activity: 533

Merit: 250

If we are compare with exchanges directly, the data displayed by CMC is inaccurate, some are too large and vice versa, maybe they have a special purpose to get profit and influence the public to buy or sell coins that they have.

CryptoIyke

copper member

Activity: 308

Merit: 1

I can actually relate with these concerns, especially where it has to do with the ads, have seen certain cryptos that turned out scam being advertised on their platform, I think they should put a disclaimer on those adds so investors won't take those ads hook line and sinker that, as per deleting inactive coins, I have seen that happen

nicecrypto

member

Activity: 1260

Merit: 21

Coinmarketcap is only for getting more information about a project you find interesting enough to want to invest, but should your investment goes bad i don't think cmc should be held responsible for that, however, cmc can try to eliminate all redundant project which have not been active with development of token in any form to filter out bad ones. The list of tokens in cmc is large with 40%-50% not active.

sammy21

member

Activity: 672

Merit: 10

Quote from: RasenShuriken on April 13, 2019, 08:37:26 AM

I don't think coinmarketcap will just stay like that, the developer of the coinmarketcap need to take a response from it. It is not very safe since there are so many coins are dead and most of them are shits. even at the top 100 there are so many shits coin.

how can shitcoin be registered on cmc? whereas to be registered in CMC we know that we need to require a number of conditions including trading or already registered in exchange. at the moment there may be many coins that are dead, and they should no longer be registered in cmc. and cmc must make a standard for that..

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