i was just thinking... CMC stopped adding korean exchanges a few days ago
They got raided a few days ago.
Maybe they know something we don’t
Topic: The CoinMarketCap adjustment, some thoughts (Read 122 times)
I'm starting to not like this idea. Cryptomarketcap is manipulating the market by excluding some exchanges from it's price aggregation calculation.
Coinmarketcap can do whatever it wants to do. It's the people being stupid enough to take that informative site far too seriously. If you think logically, non of their announcements should result in the market to drop, which just indicates how rookie infested this market really is. People don't even understand how that site works. They constantly refer to if Ripple surpasses Bitcoin's market cap, that it will have severe consequences, but they are too blind to notice that Ripple has already surpassed Bitcoin's market cap. More precisely said, it's not even the first time that Ripple managed to surpass Bitcoin's market cap.
Extra gas? are you being ironic or are you talking about the GAS altcoin? If you are talking about it, then it does not even have something in common with bitcoin (gas - neo/eth)
At some points, everytime that bitcoin touched a new all time high, the price on coinmarketcap was over $500 - $1000 extra of what it was on the legit and most known exchanges, just like binance, bitstamp, and blockchain.info price.
The bad aspect of all this thing, is that a lot of people were in a panic situation and they sold a lot of their cryptos.
Korean market prices are more speculative rather than other markets so CMC did good job removing extra gas from market now prices are stable compared to older higher prices
It was a good move after all, for me, now coinmarketcap is much more clean than what it was before, they had incredible huge prices compared to the real ones.At some points, everytime that bitcoin touched a new all time high, the price on coinmarketcap was over $500 - $1000 extra of what it was on the legit and most known exchanges, just like binance, bitstamp, and blockchain.info price.
The bad aspect of all this thing, is that a lot of people were in a panic situation and they sold a lot of their cryptos.
Korean market prices are more speculative rather than other markets so CMC did good job removing extra gas from market now prices are stable compared to older higher prices
Not true. The market fell due to misinformation. The market fell because people using Cryptocmarketcap believed a major sell off was occurring, which isn't true. So the market is over sold right now. And the Korean exchanges still have the same spread of inflated prices over other exchanges, but this accurately reflects the demand in Korea.
I'm starting to not like this idea. Cryptomarketcap is manipulating the market by excluding some exchanges from it's price aggregation calculation.
1. CMC should have provided advance notice that they were making the change. Also, perhaps they should have displayed the two prices side-by-side for a time.
No, they would provide any notice that they were about to change something. I guess they were too confident that everything will work normally but unfortunately, we have seen on what happened.2. How much of the selling that took place after the adjustment was algo momentum trading? I see what appears to be their adjustment between 04:52 and 04:57 UTC today and was curious about the trading that took place immediately following the adjustment. Haven't had a chance to look into it closely yet, has anyone else?
I don't know how to calculate that, what happened basically is everyone who just bought enjoyed the pre-sale that happened for almost to every coin that they wish to buy.Notice would of been nice, but I did enjoy the flash sale since I was holding 30% cash at the time. Yummy
Nice entry! Congrats! 1. CMC should have provided advance notice that they were making the change. Also, perhaps they should have displayed the two prices side-by-side for a time.
If they announced it people could have manipulated the market.
2. How much of the selling that took place after the adjustment was algo momentum trading? I see what appears to be their adjustment between 04:52 and 04:57 UTC today and was curious about the trading that took place immediately following the adjustment. Haven't had a chance to look into it closely yet, has anyone else?
I don't know the answer, but it would be easy to find out. Go to Blockchain.info and view the transaction volume between the 04:52-04:57 UTC time frame. That's the amount people sold. You can also look at any non-Korean exchange to see how quickly the price dropped during the same time frame.
The Korean exchanges always had really inflated prices compared to the rest as far as i remember. Everytime i looked at the markets dropdown for numerous amount of coins that were tradable on Korean exchanges there was always at least a $100 difference with that $100 inflated price of course affecting the average overall price which CMC aims to show the visitors of their website. So now it is more of a true perspective on price i believe.
Korean market prices are more speculative rather than other markets so CMC did good job removing extra gas from market now prices are stable compared to older higher prices
Notice would of been nice, but I did enjoy the flash sale since I was holding 30% cash at the time. Yummy
Hi All,
Finally had a chance to look at the CMC adjustment today that removed Korean sources of BTC (and other cryptocurrencies) from their pricing formula.
Just a couple thoughts, wondering if anyone else had any feedback on these:
1. CMC should have provided advance notice that they were making the change. Also, perhaps they should have displayed the two prices side-by-side for a time.
2. How much of the selling that took place after the adjustment was algo momentum trading? I see what appears to be their adjustment between 04:52 and 04:57 UTC today and was curious about the trading that took place immediately following the adjustment. Haven't had a chance to look into it closely yet, has anyone else?
Best regards,
Ben
Finally had a chance to look at the CMC adjustment today that removed Korean sources of BTC (and other cryptocurrencies) from their pricing formula.
Just a couple thoughts, wondering if anyone else had any feedback on these:
1. CMC should have provided advance notice that they were making the change. Also, perhaps they should have displayed the two prices side-by-side for a time.
2. How much of the selling that took place after the adjustment was algo momentum trading? I see what appears to be their adjustment between 04:52 and 04:57 UTC today and was curious about the trading that took place immediately following the adjustment. Haven't had a chance to look into it closely yet, has anyone else?
Best regards,
Ben
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