Is CoinMarketCap a scam? - page 3. | Bitcointalksearch.org

RealMalatesta

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap.com is one of the trusted and unbiased platforms right now for checking the price of cryptocurrencies and their market caps. I wouldn’t have believed what you said now if not that I decided to reach their website and know whether it’s true or not, and from what I’ve seen it is true. The coin you have mentioned is ranked at 201, while it is worth over$68 billion in market cap. Then when you go to the page 2 there are other cryptocurrencies that are worth millions of dollars but are still ranked in the top 200.

Maybe this will be an error with their system or maybe this particular coin doesn’t meet up with some of their criteria to be ranked in that position. Even at that we should all know that this is one of the trusted platforms that we have all been using for years now, and you can’t say that they are scam, because they don’t really do anything that has to do with your money.

DrBeer

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Like any statistical tool, CoinmarketCap is an interesting and useful tool, on the one hand, and on the other hand, such a tool can be used to manipulate data. Everything is on the conscience of the owner or manager of this project ...

PS But about coin # 211 - coins / tokens really have a set of criteria, quantitative and qualitative, the presence of which affects the position of the coin in the rating. And only "synthetic" capitalization cannot be the only accurate indicator of the rating.

justdimin

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I am pretty sure there must be some logical explanation to that. They do not have any benefit from safemoon being higher, that is the most important part of it. I mean yeah they could definitely end up being capable of changing the places and all if they want to, it is their website and if they want something like that then they can do it, BUT why?

I mean what is the point of keeping safemoon outside of top 200? Is safemoon something that has enough power to disturb binance? Absolutely not, if that was the case uniswap would be the first one they would block out. It is obvious that either you are wrong about safemoons size, or they have a technical issue but I am sure that none of it can come down to being a scam.

Devifajarina

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

To reach the coinmarketcap ranking, they must meet several criteria, in order to be in the top 200 or 250, these conditions make coins difficult to reach, even many coins are difficult to reach at this stage, a lot of preparations they have to do to be at this stage or at this stage. second and first pages, Market capitalization will only affect a few coins in moving to reach the top positions and almost all of them are related to each other, if this ability cannot be matched.

sujonali1819

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I don't think the coinmarketcap is a scam.. Everything has it’s own criteria. So maybe they have some rules of ranking cryptocurrencies. And every listed site have to pass the rules and meet the requirements imo. Maybe here is also happened the same with those tokens.

fuguebtc

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I also often use CMC to look up market information. But since CZ bought CMC, I feel that it's not completely transparent anymore. There have been several interventions to benefit binance. I recently switched to CoinGecko not comparable to CMC but I think it will be fairer. Research and gather information from a variety of sources. That's the best way for us to have the most accurate view.

ilovealtcoins

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Don't look at the capitalization to judge a crypto. Coinmarketcap's criteria in my opinion are reasonable. Large-cap cryptos with both transaction volume and use-cases should only be outside the top 100.
TOP 100 are the best and trusted cryptocurrencies. Look at HEX, its capitalization is really big and it has grown millions of times. It's just a ponzi product. If it was ranked in the top 100, it would be misleading for investors to pour money into such a project.

yhiaali3

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I wouldn't be surprised at all if they did, I've seen a lot of things on CoinMarketCap that make me think Binance manipulates some data sometimes, I can't say CoinMarket is scam but Binance is definitely trying to make it very profitable by making money from listing coins or Rating or advertising and other things, we can't blame Binance for that because they bought the site in big numbers and if it doesn't make a profit what's the point of it?
Although I believe that there is some manipulation, there is no denying the fact that CoinMarketCap is one of the best sites that give information about cryptocurrencies and ranks number 1 and gets millions of visits daily.
So advice don't rely on one site for information, do more research and get information from more than one source.

Pamadar

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Quote from: khaled0111 on September 16, 2021, 11:44:17 AM

Each price tracking website use its own algorithms to rank cryptocurrencies and market capitalization is just one of many factors they consider. CoinMarketCap is definitely not a Scam but their ranking algorithm works differently than most other price tracking websites.
When you need information about a cryptocurrency, you should look it up on different services. Don't limit yourself to just one of them.
For example, SafeMoon is ranked #211 on CMC, while it's ranked #105 on CoinGecko.

For traders and investors, it's always safe not to focus on one website.
We can't tell that they are bias but it's the system that they are using to track information.

You always sort it up and compared all the data that you collect, then check and balance which one is the best thing to use as a basis for your investment.
It's not good locking yourself up as internet has a wide range of information that you can use. Keep rinsing and at the end of the day you'll be able to decide if which valid information that will help you to have successful investment.

khaled0111

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Each price tracking website use its own algorithms to rank cryptocurrencies and market capitalization is just one of many factors they consider. CoinMarketCap is definitely not a Scam but their ranking algorithm works differently than most other price tracking websites.
When you need information about a cryptocurrency, you should look it up on different services. Don't limit yourself to just one of them.
For example, SafeMoon is ranked #211 on CMC, while it's ranked #105 on CoinGecko.

faithupgrade

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They rank the coin according to some criteria and one of the biggest factor is their marketcap. If a crypto has a huge volume it will surely rankup in the coinmarketcap. Sorry but I cannot see the reason why you call coinmarketcap a scam?

Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

jack wira

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As far as I know coinmarkecap has never deceived others, in other languages they have never harmed anyone.
Even CMC is a very trusted place for price analysis, so I don't think coinmarketcap will ever be a scam, bro.

ethereumhunter

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Quote from: raidarksword on September 16, 2021, 08:03:45 AM

Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

I agree with you. Coinmarketcap is a website serving the data for the market and it is our job to search for the other website to check the truth. I have also used CMC for many years since I join the crypto and I do not think that CMC is a scam and even if CMC is a scam, I can use the other website to search for the other info. Maybe some people do not like CMC because they do not see a better feature like in the other website, but I do not have a problem with CMC.

BivxiuDavi

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Completely not. I always believe in them. This project has been long proven. It is not only a simple project but a tool to take stock of market. However, to evaluate the whole market, I think we need to consult with various sources to get the most reasonable results within human's knowledge. Good luck with your predictions!

masterrex

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I think it's not appropriate to call any platform a scam just because we don't understand how it works, although the CMC site has some bugs that sometimes affecting their ranking and other statistical information. But I don't think it's a scam, Anyway, aside from CMC, there are a lot of platforms out there that offered the same functions and services that's why we are free to choose the much better that's simple.

freedomgo

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The question seems unreal, how can CMC be a scam if Binance bought them for $400 million according to this article.
https://www.theblockcrypto.com/post/60371/binance-is-set-to-acquire-coinmarketcap-the-deal-could-be-worth-as-much-as-400-million

CMC does provide information according to their standard, they might be biased since the owner of the site also owned the Binance exchange, but they are not scam.

sarmrakib

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Quote from: raidarksword on September 16, 2021, 08:03:45 AM

Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

There is nothing actually to become scam here .There are many website like coinmarketcap to show up the price of the coin which are concern crypto like coingecko ,Coinpaprika .So it can just make us a puzzle3 with the price and the wrong information without that they have nothing actually to become scam anything .There is nothing happen yet with this site .How the question come from that if it become scam .I always use this sit and it is so smooth and speedy to show me the recent market situation even with many information .

gurunanakji777

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I am a regular user of Coinmarketcap as far as my understanding it is very genuine. I think its nothing to do with Binance on the other hand there are some criteria projects need to fulfill that would be the reason in my opinion. Even you can use Coingecko if you don't like to use coinmarketcap.

raidarksword

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Coinmarketcap is just a website that monitors trading volume and ranks top coins in the market and definitely not a scam at all. There are lots of criteria to be in the position of the marketcap ranks, the trading volume and the trend as well. I have been using CMC for couple of years now and I do like their being accurate on such tokens and coins in the market.

Saisher

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Quote from: DrBitcoin on September 15, 2021, 07:32:58 AM

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

They have their own criteria for doing that, it's not a project that you'll invest it's a market aggregator if you do not agree on what they are showing you have other market aggregation that you can use, I'm using Coingecko and I'm comfortable using this, they have more features and they offer reward by just login daily.

Or you can check this article for the list of Cryptocurrency market aggregator

5 Best Crypto Market Data Aggregators and APIs (Updated 2021)

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