Is CoinMarketCap a scam? - page 4. | Bitcointalksearch.org

tvplus006

legendary

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To the Moon

Quote from: Little Mouse on September 16, 2021, 03:10:00 AM

Maybe that's a bug but for Hex, it can be something else too. I have seen Hex price to be quite higher than usual price in some exchanges. For example, in xt.com. But the liquidity at that price was not enough. It is possible that CMC use liquidity as a metric to rank the coins which is why it has affected although I haven’t checked it yet.

As for the Hex coin, it really has a small volume of daily trading, besides it is represented on shitty exchanges such as Yobit. Due to the small volume of trade, it is easy to pump such a coin, which, accordingly, will entail an increase in its capitalization. To get to the first pages of the rating, you need a listing of the coin in the TOP exchanges and a large volume of daily trading.

Reid

hero member

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You always have a choice of not using it.
They can rank anything on their own criteria but that doesn't mean that is the truth.
You could make your own and rank Ethereum as the top coin before Bitcoin because you are a big fan of it or vice versa.

CMC is just an information center of cryptocurrencies. Let it stay that way to avoid expecting more.

RussianEnglishTranslation

jr. member

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Coinmarketcap is a scam and the numbers are fudged. When the price of something like XRP goes up they remove Korean exchanges or change the marketcap/supply in circulation to lower the price. These are facts. CMC is shady and I do not trust it. Additionally, most of the trading volume it tracks is from centralized exchanges with wash trading bots, not decentralized exchanges like Coingecko... not that coingecko is perfect by any means, just saying.

michellee

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I consider that CMC is just showing the data like the other website such as CoinGecko. You need to find more data from the other website, especially if you want to use it for trading. I do not know if CMC is a scam, but I do not have a problem with that and I can find the data from the CMC. But I do not use CMC only and I use Coingecko with the other websites that members suggested to give me more data. The rest is that you need to analyze the data to find if that is real or fake.

Little Mouse

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Maybe that's a bug but for Hex, it can be something else too. I have seen Hex price to be quite higher than usual price in some exchanges. For example, in xt.com. But the liquidity at that price was not enough. It is possible that CMC use liquidity as a metric to rank the coins which is why it has affected although I haven’t checked it yet.

globalpain

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The OGz Club

Quote from: ?? on ??

The number of scams in the crypto market is very high but coinmarketcap is not a scam but it is a very good site for exchange. Most of the currencies are listed here and the 10 currencies listed by coinmarketcap are good for investing various information about tokens can be learned through this market cap digital currencies are listed following coinmarketcap.

I think the Coinmarketcap site is really safe and definitely not a scam site,
after all it is a trusted site and many people have used it so we don't need to hesitate,
right in Coinmarketcap we can find a lot of information about various coins and it's good to add to our reference

Ararbermas

sr. member

Activity: 2016

Merit: 283

Its not a scam mate because CMC is the most reliable site nowadays and very genuine. and each of every project need to meet the requirements so that the can avail spot in coinmarketcap, if not then they are not eligible, and for your information there some projects as well that suddenly disappear within that site, and of course there's a good reason for that, i mean it's either turn into scam or CMC receiving a bunch of negative feedback about the project that's why they decided to remove it for the safety of the community..

andriarto

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Quote from: hosseinimr93 on September 15, 2021, 08:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

so basically coinmarketcap is still normal no disturbance. and what happens is possible because of the lack of requirements on certain coins to be ranked according to their order. for coinmarketcap, I've used it since the beginning of knowing crypto, and from here I can find information about the development of coins, especially on prices and exchanges

CryptoWarriorsssss

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Quote from: DrBitcoin on September 15, 2021, 06:32:58 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?

of course ， not

DapanasFruit

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I am actually surprised that anybody can be accusing CMC as a scam...maybe there can be some technical problems from time to time or they have their own guidelines being followed that can determine how a certain digital asset can be listed or what place it will occupy on the list...but certainly this can not be qualified as a scam. In the first, CMC is not asking money from us though it can be getting its revenues from advertising too...

yohananaomi

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Quote from: hosseinimr93 on September 15, 2021, 08:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

I think what our colleague @hosseinimr93 said can be accepted and digested correctly and I think it makes sense, because each particular application is ensured to carry out the requirements that are adjusted to the existing predictions and are correct. but if there is a mistake or something that feels awkward, you can make a correction directly to their admin to get clearer information.
so that there is no perception that would be wrong and have another impact, I think they are willing and will be able to carry out the dialogue well.

ene1980

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Quote from: DrBitcoin on September 15, 2021, 06:32:58 AM

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?

Why do you think CZ and Binance purchase CMC. It will be their tool to propagate their idea about the market and they can manipulate certain aspects of the market with the rankings so that anyone who used to check CMC would continue to do so but forgets the fact that the owners changed hands and you cannot expect a fair view of the market especially if there is something that could boost up their business.

btc_angela

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Quote from: Kusman on September 15, 2021, 05:35:53 PM

I don't think that Binance exchange would own a scam platform. They would already know that it would tarnish their reputation. Binance is the number one cryptocurrency exchange in the end. And I didn't think even once that Coinmarketcap would be a scam. Sometimes, they had some technical problems like showing faulty prices. But they corrected their mistake quickly all the time. If you are still not comfortable with the website, then I would recommend Coingecko too. It seems more reliable.

Yes, they have their reputation to protect, and since CZ has taken over it, there has been a lot of chances, maybe inside policies and/or criteria and obviously what the OP is complaining didn't make their strict criteria.

Big exchanges has some faulty issues in the past as well, like Coinbase. So similarly, Binance will make mistakes as well. But they are very quick to fix the issues so Coinmarketcap is good in my opinion.

Baofeng

legendary

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Quote from: DrBitcoin on September 15, 2021, 06:32:58 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, maybe you can cross it to other sources such as https://www.coingecko.com/en so see if there is a difference or not. If there is then it's really up to you who to believed.

You don't need to pay Binance though, again it boils down as what are their yardstick. Not defending them because they have been accused in the past already, however, if this is the case then this could have been noticed too and could have been an issue already.

seramania

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Quote from: hosseinimr93 on September 15, 2021, 08:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

This is the most correct in my opinion based on the facts on the ground. the requirements of a coin to be in the best position on coinmarketcap are very different from a token that occupies a position in the order of many. For example, trading volume, exchange, marketcap, and selling and buying charts on a daily, weekly and monthly or yearly basis can affect positions on coinmarketcap.

Kusman

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I don't think that Binance exchange would own a scam platform. They would already know that it would tarnish their reputation. Binance is the number one cryptocurrency exchange in the end. And I didn't think even once that Coinmarketcap would be a scam. Sometimes, they had some technical problems like showing faulty prices. But they corrected their mistake quickly all the time. If you are still not comfortable with the website, then I would recommend Coingecko too. It seems more reliable.

Mahanton

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Quote from: hosseinimr93 on September 15, 2021, 08:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

Probably or most likely this had been the reason on where a certain project hadnt able to meet up the requirements thats why it isnt displayed on 1-2 pages and if you are really that kind of investor whom do check out on

the coins that you are possesing into and find out that it isnt on the right ranking then you would really be basically having these kind of reactions which isnt really surprising.
I dont see to be a scam but rather misleading on some case but high likely the link given above is the culprit or reason.

sunsilk

hero member

Activity: 3038

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It's about its standard and there must be some statisticals requirement from CMC itself why it's like that.

As you compare, take a look at the other websites just as the same as CMC to compare if there's a lot of difference or it's also the same as CMC that you're looking at.

It's not a scam, just as the others that only shows status and data of different cryptocurrencies.

Johnyz

full member

Activity: 2086

Merit: 193

How it can be a scam if its just a monitoring site? Also you can have other option if you think CMC is not fair on their rankings which is just based on their requirements.

To get listed in CMC you have to provide such requirements and also if you think you are qualified to be on top positions, you still need to submit your requirements. I don’t know hows the process but for me CMC is not a scam.

CaVO32

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Quote from: hosseinimr93 on September 15, 2021, 08:19:14 AM

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages.

First, I won't call CMC as a scam because they are not duping any user here. They have their own criteria so it is according to their standards how they will rank the coins. And if you are not happy about it, just like zasad said, you have several ranking websites to look out for also. Or just apply filters if you want to see specific categories and their rankings. Anyway, the ranking itself doesn't equate how good the coin is in the actual market. There are coins at the top which don't have active use case, whereas, there are some gems which are below them that have active use case.

Topic: Is CoinMarketCap a scam? - page 4. (Read 608 times)