Topic: Lies and fraud and on the Coinmarketcap! (Read 139 times)

It's not the fist time when coinmarketcap uses its power to manipulate the market. The last time I remember was when It removed all Korean trading platforms and their volumes somewhere in late fall, and ripple lost a huge volume and was moved to 3rd place.

All the data that we find anywhere in the Internet should be considered as a common and approximate information. Nobody can be trusted. Exchanges also often show fake numbers

This is a great tool, thank you!

Also a good read:

https://medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a

Way to liberate is also focus on alts. They can't kill them all.

There was a time i noticed this on coinmarketcap. Traders definitely need to be very careful while trading cryptocurrency. Sometimes, some of these figures might be very deceiving. I just wondered, does it mean their system does not keep upto date  the trends on coins prices? It happened to me when i wanted to trade a particular token. It was shown by coinmarketcap that Idex had a higher price than coinexchange. Unknowing to me, i quickly transferred the token to Idex, sold it and was about to transfer my eth to coinexchange to buy back, but i met something different. The price there was much higher.

I don't think that coinmarketcap would ever publish incorrect information in order to cheat people. There could be a kind of mistake or inaccuracy, but such a source takes care of its reputation.

A lot of bold accusations and other blah-blah but parts 1 and 2 contain very few real proofs of CMC intentional lies and fraud. I eagerly wait for additional parts, maybe there I can find proofs. I'm sure that CMC manipulates the market somehow and I don't totally rule out insider trading, killing off coins and other misdeeds of CMC. But we need some strong direct evidence of it but not indirect charges or the authors' reflections. Now it seems that the authors of articles are paid by certain parties interested in CMC collapse and in spreading of additional panic sentiments among traders and investors.
As for me the authors do not try to stay as neutral in their observations as they claim it. I see that the main accusation now is that CMC by some reasons doesn't display correctly a circulation supply of many coins though the authors themselves clearly say that "We may infer or extrapolate certain conclusions from our analysis, and in certain cases we might be incorrect or draw the wrong ideas". Wrong information doesn't imply direct fraud or CMC threats to delist certain coins, etc.
And we don't know real reasons why CMC information is wrong in some cases. Maybe first of all it is a fault of coins' devs who are not so active to provide CMC with accurate info and cooperate with CMC more closely. I think that CMC as the business project has their certain reasons and we should at least wait for CMC own explanations on the situation. Moreover, CMC is not an exchange or other official source but it is just the 3rd party site. Its disclaimer clearly says that it will not hold any responsibility for any missing or wrong information and the information provided on the website does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Thus, always try to work with primary sources of information first.
I think the authors instead should try to "decentralise information" in practice and to create their own better and more popular rival website that would provide all market participants with a "proper information" on all cryptomarket data, coins circulation, their market cap, etc. It would be an easy task for them taking into consideration that as they say they were able to compile the analysis data "fairly quickly with minimal resources". It is better than to intentionally spread more FUD in today's unstable cryptomarket.

Well, let them do what ever they want it is not your website, another fact is that it is the widely used by many people. Heck, they even promoted some scam ICOs via advertisements placed on their website. There were talks while back when they dropped the stats from some exchanges where by their words price was higher on them, so they dropped them out. As the result of this you could see some red and then few people panic sold because they tough it was going down, but in fact they removed few exchanges where btc was trading at higher rates and as a result the average price of BTC went down.

Honestly I mostly look at prices from exchanges, rather than these 3rd party websites. Of course that some exchanges can manipulate the price and volume by providing false data, but as we see you can be hurt much if you follow just one website and if you don't think clearly.

Well, a friend told me he got deceived by coinmarketcap to trade a scam coin(inaccurate volume and figures). Didn't really believe or understood him until I read this article. Thanks for the share tho.

Defintely have to be alert to these type of things. Thanks for the article. Very infomative!

This is a link to the articles that I recently found and read. This is very sad information and I advise everyone to thinkfully read it and analyze it! We are deceived everywhere, be careful and attentive if you decide to trade Crypto!
https://medium.com/@coinmarketcapped/part-a2-false-circulating-supply-changes-market-capitalisation-ranking-value-of-coins-e2588719fa53