Topic: MarkepCap sites should implement some checks and balances (Read 466 times)
As a form of responsibility for MarketCap, such as CMC and CoinGecko, they should care about such things, removing coins that have proven to be a scam. So that many people are helped by losing their money
Honestly, I often take information from a coin through the CoinMarketCap website. Because the sport shown is really accurate for the price of the Exchange. At least, I was able to see many charts last year, as my reference in trading.
I think the coinmarketcap (CMC) is now becoming strict on the tokens listed there. Somewhere in an ICO group, an admin mentioned that and it will really be great if CMC starts scrutinizing tokens listed.
Based on my research, developers team for coin market cap have been using automated data to process the prices on the coins reflected on their website. It has nothing to do, or coinmarketcap has nothing to do to its price and its delisting. Because it is a passive viewing only.
It is pretty difficult to find an exchange that does not have any trading bots that are manipulating the volume. Thats why I prefer to use decentralised exchanges. Moreover the Caps websites are also making some strange things like that time when cmc showed +60 percent for each coin.
For a very long time, many forum participants said that sites that convey such dynamics can deceive us. I think that this may be due to the fact that the exchanges may transfer not quite correct information.
The fact is that many of the biggest scams that has happened in cryptocurrency listings are scams that looks very genuine at the surface, some of them would pass even the most rigorous checks of some exchanges.
We should make our own research. But that doesn't mean that the cmc and coingecko is no use. It is useful also for just references on its price and its volume. But we make our own research to know more.
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
I think crypto market data always changed every second and no one can follow it, so I suggest you to not trust it but you can see from exchanges data. CMC and coingecko is like portal data that you can see all information running but the specific data ( true ) is only on exchanges. Those web have good performance for me, even sometimes not correct but from them I see opportunity,
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
What i know is that coinmarket cap sites is just used to show the marketcap of coins that the data is taken form many exchange markets, so in case there is an indicated scam coins, it should be gone from the marketcap since the data won't be available to be taken from the exchange market. Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
Actually, this must be done by them because if fake coins go into them, investors will be affected because many investors trust the place of the token listing. So they are trapped to invest their money to buy fake tokens.
Then this is a weak investor that did not do a research on what and where to invest, I never look for coinmarketcap for investment I go to the site and feedbacks of the community and check the profiles and the people behind them and search about their platform but never use coinmarketcap as my one and only guide.
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
i agree but, when investing it is really investors responsibility to do indepth research about the project that they are going to invest. Plus, they need strategy on how long they will hold on to their invested ico. But i agree that if every entity do their job right about what to list and what to ignore then a lot more people will be more likely to make money in this crypto space.
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
CMC gets decreased on its quality, so far i you are seeing the fact that it might be dozens of fraud coins delisted from coin market cap till this timeReputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
But it looks like CMC doesn't even care about that and just try to keep it listed on the site.
I agree with you. Also I want to add that such marketcap sites have a lot of scam coins or there isn't some information. I mean that they have enough work to do. We chould check their information too.
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
You are right about reputable sites doing their jobs adequately but I think that has happened in the past
Since the bearish market began, reputable firms like market cap are more worried about their income/ profit than viewers safety against fraud
actually i disagree. it should all be up to the user to decide not some website that lists all the coins. if you rely on them then biases will shape and then eventually these sites would start getting paid to manipulate their listings to affect the public opinion as CMC has done in the past.
in fact i even say they shouldn't rank altcoins at all. some alphabetical sorting would be more than enough. maybe some categorization based on their algorithms, supply,... would be a lot better than what CMC is doing which is based on a fake number called market capitalization.
in fact i even say they shouldn't rank altcoins at all. some alphabetical sorting would be more than enough. maybe some categorization based on their algorithms, supply,... would be a lot better than what CMC is doing which is based on a fake number called market capitalization.
This Coinmarketcap is very helpful in providing detailed coin information. But it still has flaws and that makes perfect sense. So I think before deciding which coins we will buy, we have to do research. Because this is very important to do so we don't get fake coins.
I understand the fact that investors should do their research before investing into any project or coin, but MarketCap sites, such as, CMC, CoinGecko and the likes, also have some roles to play.
Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
They collect data from exchanges, so if exchanges giving them bad data, they can´t know it.Reputable exchanges do screen and scrutinize every coin that is listed on their sites and peradventure there is any already listed coin found suspicious of scam, it will be delisted. With this, i also expect that MarketCap sites should do the same, but these days, it seems they are left and displayed without doing the needful.
If this is done with due diligence by deleting or delisting scam coins, it will go a long way to help the system and at least make it safe to some extent.
But you can still contact CMC and give them proof that some coins have fake market cappitalization.
That is a good point which needs to be addressed, perhaps by the market cap sites.
Peradventure nothing is being done, then the onus is on those who use the site to be able to choose rightly the coin to trade.
This is more like someone telling you that a particular coin is available for investment, but it will be wise of you to do your own under study, because this is part of the requirements of good investment.
Peradventure nothing is being done, then the onus is on those who use the site to be able to choose rightly the coin to trade.
This is more like someone telling you that a particular coin is available for investment, but it will be wise of you to do your own under study, because this is part of the requirements of good investment.
I think the listing process on the new coins on coinmarketcap are done automatically. And if not, we must give more time to the developers, because I am pretty sure that they are doing their best to give us a updated coin list and rankings in coinmarketcap.
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