Traders big enough to move the market this much aren't making their trades based on CMC; they're watching the prices on their own exchange.
Mondays are typically bloody in crypto anyway - not too surprising.
Topic: Is Coinmarketcap a scam/fraud? - page 3. (Read 581 times)
You think Coinmarketcap.com caused this dip?
Why do you think that?
Why do you think that?
I have been reading this forum for a while but I never posted here. But today's news made me say something. Today Coinmarketcap removed Korean exchanges to deduce the market cap without any clear notice in their website. This made a lot of people panic sale their bitcoins and altcoins and we experienced a huge drop. It makes me thinking why did they do that? I must be fool to think this is an honest mistake. They could have just put a notice up there in their website and avoid this but they didn't. They knew exactly what's gonna happen and they manipulated the prices. 
Yes, the price will go back up soon and we all forget about this, because we'll be happy with our profits. But I am thinking right no, how fragile is this market that a website can manipulate it like that. This makes me worried about the future. This is not the first time this happened. Any tiny news could create a panic among people. This proves that others are hesitant about the future of the market and that's why they do panic sale. I think the only solution is to talk about this and see why we panic so fast?
Please let me know what you guys think about about Coinmarketcap and why people panic like that. This made me think for a while. If you also think Coinmarketcap scammed people here, what is the solution and what is the alternative?
Edit:
Maybe I wasn't clear on why I used the word 'SCAM' here. Scams happen when a fraudulent scheme performed by a dishonest individual or company in an attempt obtain money or something else of value from others. For example, one possible theory is that CMC was paid by wales to inform them about this change before hand and also does not provide others a notice. Then the price drops and the wales enters and buy cheap coins and people who panic sale loose their money. This is just an example there are tons of ways you could have made money in this.
I think we should be informed and talk about scams because they are really hurting the market.
Yes, the price will go back up soon and we all forget about this, because we'll be happy with our profits. But I am thinking right no, how fragile is this market that a website can manipulate it like that. This makes me worried about the future. This is not the first time this happened. Any tiny news could create a panic among people. This proves that others are hesitant about the future of the market and that's why they do panic sale. I think the only solution is to talk about this and see why we panic so fast?
Please let me know what you guys think about about Coinmarketcap and why people panic like that. This made me think for a while. If you also think Coinmarketcap scammed people here, what is the solution and what is the alternative?
Edit:
Maybe I wasn't clear on why I used the word 'SCAM' here. Scams happen when a fraudulent scheme performed by a dishonest individual or company in an attempt obtain money or something else of value from others. For example, one possible theory is that CMC was paid by wales to inform them about this change before hand and also does not provide others a notice. Then the price drops and the wales enters and buy cheap coins and people who panic sale loose their money. This is just an example there are tons of ways you could have made money in this.
I think we should be informed and talk about scams because they are really hurting the market.
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