Please remove bitebtc exchange for coinmarketcap.

BitMaxz

legendary

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I think they still required proof and evidence to exclude any exchanges from coinmarketcap because I heard that they always receive a message daily for almost all exchanges.

Quote from: https://blog.coinmarketcap.com/2018/11/27/according-to-coinmarketcap-2018-edition/

That brings us to another issue, that of exchange volume. We get messages every day about this or that “scam exchange with fake volumes” and requests to take them down. Almost every exchange has been called a scam in their lifetime of existence.

So I think they can't decide to remove the exchange site unless if there is enough evidence to remove the exchange site.

Check this https://coinmarketcap.com/methodology/ you can see on their list if how to request to exclude/remove an exchange site including requirements.

magneto

hero member

Activity: 1666

Merit: 753

No way Coinmarketcap is going to be moderating every single exchange that they use as a part of their weighted average, in my opinion.

Unless enough people report it, they are likely going to just let it slide given the fact that they have such a massive array of exchanges to deal with, and it's completely unfeasible and a waste of time and resources from their perspective to police every single one of them. Especially when historically, they haven't shown the best morals, with them being one of the primary advertisers for the Bitconnect scam.

The warning they put up should be sufficient, and removing it doesn't make a whole lot of sense if a lot of coins are dependent on this exchange as their primary one. I doubt that the prices they reflect are that inaccurate anyways, which is coinmarketcap's primary function.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: harizen on June 24, 2019, 05:08:18 PM

First of all, why rely on Coinmarketcap as the main source of a so-called legitimacy about exchanges.

I know lots of newbies out there but it's mandatory to do a self-review before choosing an exchange.

Might not be a good thing for experienced person to make it as a reference but we know the current standing of CMC thats why most people do end up
on making this as a place for searching an exchange on where their tokens is being traded off without having any further verifications about legitimacy.
As long its listed on CMC then their mindset says its already legitimate and later on they do complain when they experience problems.

harizen

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First of all, why rely on Coinmarketcap as the main source of a so-called legitimacy about exchanges.

I know lots of newbies out there but it's mandatory to do a self-review before choosing an exchange.

Coinmarketcap, on the other hand, is surely considering all reports (that's why they are flagging it) but obviously, there is a process followed before the actual removal of the involved exchange completely. Might be a slow that's why always be careful dealing with any exchanges.

timerland

hero member

Activity: 1526

Merit: 596

It's similar to yobit in these regards.

But Coinmarketcap will probably like the exchange to be kept listed regardless. Given its high volume, and their focus of having more data points to draw average prices from, they really have no interest in removing it altogether.

Especially given the fact that BiteBTC consists of the majority of the volume for a lot of coins with smaller capitalizations, if CMC removes that from their data then the price data will be even more inaccurate and would reflect less liquid markets.

I'm not saying that this is the right thing to do, given that the deposit/withdrawal issues likely make the prices skewed anyways, but this is what's likely to happen, or not happen.

bitmover

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Quote from: OmegaStarScream on June 22, 2019, 03:21:14 AM

There is a warning on CoinMarketCap saying:

Code:

We have received reports that user deposits are being withheld. Please be careful with your funds.

That should be enough to make people not use it If they care about their funds.

You shouldn't expect them to easily remove an exchange with 200M trading volume. Any requests should be sent to them by the way, you're not doing much by posting here.

Coinmarketcap keep lots of scam exchanges in its list.
We had a similar problem with the biggest volume exchange in Brazil (according to them, their volume was higher than binance)
https://finance.yahoo.com/news/brazilian-crypto-exchange-faces-lawsuits-083225608.html

It is withholding funds for months, but only few days ago was removed from coinmarketcap.

Don't expect them to act fast.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

There is a warning on CoinMarketCap saying:

Code:

We have received reports that user deposits are being withheld. Please be careful with your funds.

That should be enough to make people not use it If they care about their funds.

You shouldn't expect them to easily remove an exchange with 200M trading volume. Any requests should be sent to them by the way, you're not doing much by posting here.

stchouse

newbie

Activity: 3

Merit: 0

HI
The BITEBTC Exchange is a place where you attract members at a fake price and do not give back money.
BITEBTC exchange is a real scam exchange.

https://coinmarketcap.com/currencies/free-coin/#markets
First remove bitebtc exchange here.
I would like once more. please remove here.
https://etherscan.io/address/0x28ebe764b8f9a853509840645216d3c2c0fd774b
This is the bitebtc exchange address.
Please check the This address.
They are selling their FREEcoin on crex24 and so on.
They are all selling now FREEcoin.
They are stealing now FREEcoin.
For that reason, the price of FREEcoin went down.
They are places where they do not give back their money after attracting members at fake prices.
Many members have been "Temporarily disabled".
https://coinmarketcap.com/currencies/free-coin/#markets
First remove bitebtc exchange here.
I would like once more. please remove here.
please

We talked this message to coinmarketcap.
They are not listening to my demands.
Please remove bitebtc exchange for coinmarketcap.
please.

Topic: Please remove bitebtc exchange for coinmarketcap. (Read 157 times)