What is the solution about CMC fake volume..?

Aying

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Quote from: mindrust on November 05, 2019, 12:48:34 AM

I try to use openmarketcap instead of CMC whenever it is possible. CMC has become a place where Chinese scam exchanges advertise themselves on. They say they don't want to miss any coin/project/exchange on their platform and refuse to not list the fake volume exchanges and I have the right to not use them to get the truest information. Use openmarketcap.

I will try to use that openmarketcap too. but for now we can't take any action to this issue? everyone still had a bad experience on cmc. for me I wasn't bother it anymore because I use coingecko on finding better project. cmc still had the top 5 exchanges and I still use to trade anywhere there. if cmc improve more and remove this fake volume it more reliable to the users and other old users that disgusted of cmc fake volume will back. it need more trusted projects to be list there to attract newly knowledgable users. what do you think it?

Reid

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Not maximum people, but some people only and some users here do the same thing as you do.

But for me, it aint CMC that I visit first. It is this forum first if there is something new. This is my news portal of course.
Then I go to my exchange. It depends what coin you are holding.
If that is unavailable in Binance then create a new tab and open the other exchange, whatever it is.
That way you would know what is really happening.

jostorres

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There is nothing much that you can really do about that because that is the way they are making money, if they dint accept money to comprise for all these people they lost at top, how do expect them to make money, so you really cannot stop coinmarketcap form that, we only need to start shifting our attention now to a more trustworthy data generating center that will give us the accurate coin statistic that we need because I also believed too that coinmarketcap is allowing some coins that have fake volume to climb the market, the only way they have not replace bitcoin from its first position is because they know they cannot since we don’t even need data to know that bitcoin has the largest volume and the number of transaction that is being traded everyday cannot be comprehended.

Cherylstar86

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Quote from: wajik-tempe on November 05, 2019, 12:41:24 AM

Quote from: Barbut on November 05, 2019, 12:24:41 AM

Quote from: LouVandetta on November 04, 2019, 11:48:44 PM

Don't trust cmc just like that. Check the exchanges too. See if it's a real volume or not. Sometimes for some alts or exchanges they were using bots to fake the trades. So it could have a higher volume and all.

I've been using cmc only for when I'm looking for a certain alts and where the exchange they're in. So double check everything first.

Don't trust anything on the internet just like that! Every service is trying to make money and they will do anything for money, whoever paid them for something they will do it. CMC was accused of manipulations, they even admit some things. I use CMC just for the first information about some coins, we can see markets, basic info about some coins, but for deeper research, I use other sites.

I think it's not the cmc fault that showed fake volumes on those exchanges. But the exchange itself manipulated the their trading volume with bots, so the cmc is just detecting exactly what has been done and it's impossible for cmc to seperate bots trading with real trading.

Many computer wizards will able to do such fake volumes. I believe on those fake things out there in CMC since I experienced those things in which I expected to have a great volume on the tokens I received from the bounty I joined asking many questions to those developers but they have nothing to do about that fake volumes in which in the end some investors have doubts on those bounties.

el kaka22

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There is really no solution because people are getting really good at this "fake volume" thing these days. I have been involved with a coin before and they gave us a trading bot that did minimum requirement trades for 2 minute intervals, so when you look at the trading book it looks like every 2-3 minutes there is a trade, the moments are random as well, it is between 2 and 3 minutes but it could be 2:04 or it could be 2:32 or 2:47 whatever they are random.

Hence, it looks like real trading for everyone who looks at it, there is absolutely no way to figure out if it is real or not. Now, think of this but for 50+ pairs, they have millions of dollars worth of volume for real looking thing that CMC could never understand if real or not, you can't stop that.

arwin100

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Quote from: Apened on November 05, 2019, 12:44:24 AM

Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

Well, its too hard to answer with a solution because we didn't even know exactly in what they are lacking into. If ists jist an issue about fake volume. I think they can't get the live volume in every exchange minute per minute because it is fluctuationg or they have some other way to calculate the volume. So we if we need or want to know the exact volume we check it on our own in the exchange that we want to know. We can't blame cmc for that fake volume and they need to explain it for much better understanding.

Well I think we can do a simple solution on this since we can decide for ourselves if we believe on those exchange or not and since there are so many reviews already placed here maybe it's best for us to leave those exchange and future coming. We should stick on the current exchange which is already running strong today. And actually we can blame CMC for that since it's their negligence to list those exchange who provide a fake volume and it can cause harm for newbies if they see that on their site.

mindrust

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I try to use openmarketcap instead of CMC whenever it is possible. CMC has become a place where Chinese scam exchanges advertise themselves on. They say they don't want to miss any coin/project/exchange on their platform and refuse to not list the fake volume exchanges and I have the right to not use them to get the truest information. Use openmarketcap.

Apened

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

Well, its too hard to answer with a solution because we didn't even know exactly in what they are lacking into. If ists jist an issue about fake volume. I think they can't get the live volume in every exchange minute per minute because it is fluctuationg or they have some other way to calculate the volume. So we if we need or want to know the exact volume we check it on our own in the exchange that we want to know. We can't blame cmc for that fake volume and they need to explain it for much better understanding.

wajik-tempe

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Quote from: Barbut on November 05, 2019, 12:24:41 AM

Quote from: LouVandetta on November 04, 2019, 11:48:44 PM

Don't trust cmc just like that. Check the exchanges too. See if it's a real volume or not. Sometimes for some alts or exchanges they were using bots to fake the trades. So it could have a higher volume and all.

I've been using cmc only for when I'm looking for a certain alts and where the exchange they're in. So double check everything first.

Don't trust anything on the internet just like that! Every service is trying to make money and they will do anything for money, whoever paid them for something they will do it. CMC was accused of manipulations, they even admit some things. I use CMC just for the first information about some coins, we can see markets, basic info about some coins, but for deeper research, I use other sites.

I think it's not the cmc fault that showed fake volumes on those exchanges. But the exchange itself manipulated the their trading volume with bots, so the cmc is just detecting exactly what has been done and it's impossible for cmc to seperate bots trading with real trading.

Barbut

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Quote from: LouVandetta on November 04, 2019, 11:48:44 PM

Don't trust cmc just like that. Check the exchanges too. See if it's a real volume or not. Sometimes for some alts or exchanges they were using bots to fake the trades. So it could have a higher volume and all.

I've been using cmc only for when I'm looking for a certain alts and where the exchange they're in. So double check everything first.

Don't trust anything on the internet just like that! Every service is trying to make money and they will do anything for money, whoever paid them for something they will do it. CMC was accused of manipulations, they even admit some things. I use CMC just for the first information about some coins, we can see markets, basic info about some coins, but for deeper research, I use other sites.

Pamadar

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Quote from: Ararbermas on November 04, 2019, 09:01:26 AM

Relying on CMC is not safe mate because sometimes they are not updated in what is happening in some of the projects listed on thier site. . Wherein for example there is a scenario happen that can affect the volume. So be aware! If i were you always try to search in google for updated results because in fact there are some good exchange nowadays where you can find some certain volumes of the coin wherein even you are not yet registered on the site, what i mean you are able to view all the information of the coin without further do.

You should not relied everything with one site unless you are trusting the data that they are publishing. Most traders knew that in order to get better information doing deeper research is very important. There's no need for rushing things out and failed after but instead, do a much complete data research and collect every information that you can gathered before you will assume what to do next.

LouVandetta

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Don't trust cmc just like that. Check the exchanges too. See if it's a real volume or not. Sometimes for some alts or exchanges they were using bots to fake the trades. So it could have a higher volume and all.

I've been using cmc only for when I'm looking for a certain alts and where the exchange they're in. So double check everything first.

PLATO

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Quote from: buwaytress on November 04, 2019, 10:09:19 AM

I really don't get the outrage at CMC. They're a centralised service, they've given their service free, shame on anyone who uses their data, or anyone else's data, as the gospel truth and the final word on anything.

Do I use CMC? Sure, it's a quick overview of some things, they're accurate enough to satisfy my curiosity, and you know what? It's rather reliably helped me see markets for some coins, and where Bitcoin's priciest (and vice versa).

It's a free service, and they have an agenda. Big shock.

All data at CMC is good but fake trading volume is something that CMC could not do during this period. If CMC doesn't have a specific solution to fix this, shit exchanges will always rank high in this market and that something no one expects. In my opinion CMC needs to be more transparent because this is the site with the largest daily visits and if that altcoin is not updated at CMC, that coin will soon become a shitcoin.

teosanru

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

Exchanges generally have highly accurate programmed bots which work by stacking huge order walls on both sides using fake money. Then these bots try to hit their own orders than hitting orders of real customers. Even if orders of certain real customer is matched and immediate order on the other side is matched too. This would lead to just a minute say 1% loss for the exchange but would generate a lot of buzz and therefore new traders would join the exchange generating fees.

ashmodeus

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

oh guys, you make a simple problem be hard.
don't look to another exchange/coins raising quickly,
just focused to exchange/coins what u choose on the beginning.
and you will be safe as well.
because, its like a common problem on crypto world about manipulation or something like that.

buwaytress

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I really don't get the outrage at CMC. They're a centralised service, they've given their service free, shame on anyone who uses their data, or anyone else's data, as the gospel truth and the final word on anything.

Do I use CMC? Sure, it's a quick overview of some things, they're accurate enough to satisfy my curiosity, and you know what? It's rather reliably helped me see markets for some coins, and where Bitcoin's priciest (and vice versa).

It's a free service, and they have an agenda. Big shock.

rijaljun

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Quote from: riso2015 on November 04, 2019, 08:52:06 AM

They don't think about it because they have already been paid, Every project is free to ask anything to them because if you have paid CMC then the volume of your coins can be manipulated. My suggestion is better you not only check there, but you also have to check into various similar sites.

Are you trying to say that CoinMarketCap is involved in creating fake volumes?

Oh god, Where can I find about this information?

zeze18

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Quote from: MURONDI on November 04, 2019, 09:30:25 AM

the exchange of fake volumes will reduce coinmarketcap's reputation, Coinmarketcap should act immediately to remove exchanges with fake volumes, exchanges with fake volumes should be reported immediately so that they no longer operate.

It won't reduce it's reputation because CMC is already did what they should did which calculating realtime the volume of the exchanges transactions. The problem is from the exchange that can't handle the bots transactions and make the volume faking a big result. And sometimes the exchange itself placing bots on their exchange so their exchange looks big

MURONDI

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the exchange of fake volumes will reduce coinmarketcap's reputation, Coinmarketcap should act immediately to remove exchanges with fake volumes, exchanges with fake volumes should be reported immediately so that they no longer operate.

NeuroticFish

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess.

Mine doesn't. While I check the price (too) many times a day, the actual volumes don't matter that much to me.
But I don't day-trade.

Now about your problems:
There are plenty of 3rd party websites which may do a better or worse job in the matter. A link to them was already posted.
But (and this is what I feel it's missing) depending on the method an exchange uses to inflate the volumes, in some cases this cannot be noticed easily (or at all).
For this to be checked properly 3rd party audit would be needed, which nowadays doesn't happen (or it's not focused on fake volumes).

Ararbermas

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Relying on CMC is not safe mate because sometimes they are not updated in what is happening in some of the projects listed on thier site. . Wherein for example there is a scenario happen that can affect the volume. So be aware! If i were you always try to search in google for updated results because in fact there are some good exchange nowadays where you can find some certain volumes of the coin wherein even you are not yet registered on the site, what i mean you are able to view all the information of the coin without further do.

Polar91

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

What is the best solution for this problem..?

You may use other trackers but I think some of them displays same data as CMC thus for me the best solution is just to check the validity of the data from coinmarkercap directly to an exchange. It's quite tedious do since you have to visit each exchange's volume for that particular altcoin but it's the most accurate way to distinguish the validity of its volume. CMC is such great tool to find available exchanges for the coin you wanted to trade; volume information is just a bonus.

riso2015

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Quote from: rijaljun on November 04, 2019, 08:40:36 AM

I am very much sure they could do that, they should have completely deleted the fake volumes from their website. In my opinion, CoinMarketCap team just don't want to be busy with that. Right, they think they have no strong competitor and that is why they don't take much moves.

They don't think about it because they have already been paid, Every project is free to ask anything to them because if you have paid CMC then the volume of your coins can be manipulated. My suggestion is better you not only check there, but you also have to check into various similar sites.

rijaljun

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Quote from: Pearls Before Swine on November 03, 2019, 09:10:44 PM

I'm not sure what they could do anyway. There are many exchanges and so many coins on the market that it would be a nightmare to verify legitimacy even if they were so inclined to do more about the problem.

It sucks that you have to take the volume numbers with a grain of salt, but so be it. This won't change until these exchanges start getting honest, and I doubt that's going to change. Ever.

I am very much sure they could do that, they should have completely deleted the fake volumes from their website. In my opinion, CoinMarketCap team just don't want to be busy with that. Right, they think they have no strong competitor and that is why they don't take much moves.

Mahanton

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Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

This is where you do make some verifications before you do tend to jump in into a new or unknown exchange.They might able to top on CMC
but doesnt mean that they do had that solid liquidity which would be considered to be a good exchange and as said where anything can be faked out.
This is why i dont easily trust up CMC unless if do see those casual top tier exchange to had some high volumes then there nothing wrong with it.
Wash trading or faking stats had been known already on the past even big exchangers do have some issues with it.

Coin_trader

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Quote from: Edraket31 on November 03, 2019, 11:20:59 PM

As per CMC, they are charging 'free listing' so, they don't care much of it, they are just after the number of users visiting their website, so don't just rely on it, for comparison use other market cap ranking system or go to the exchange itself.

As far as I know the CMC is not including those exchanges who has a fake volume. But I hope that they will delist those coins who are not supposedly be there and has proven to be scam.

All crypto exchange has fake volumes excluding Coinbase, Binance NJ and DEX (This exchange which I know so far). Coinmarketcap has nothing to do about it since they just showing the feed given by the exchange itself. The regulation is the only key to let this shitty exchange show its real volume. Currently. There is no official regulator that monitoring the exchange transaction which results in many exchanges is freely doing wash trading.
But the problem is the SEC requirements are very hard to accomplish that's why many exchanges are going to a country with poor jurisdiction about crypto law. I wonder if there will be a solution for this crypto problem if ever exchanges will never be regulated.

michellee

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1. I think it is easy for CMC to create a fake volume even they don't have to tells us.
2. The best solution is you don't need to use CMC as your guide to finding the exchange.
3. I am not sure because I do not always check CMC daily.
4. You can use coingecko or another similar site to find more information about the exchange.

The best you can do is you can check on the exchange directly without visiting on the CMC so you can see what is happening to that exchange, although if you can find more information, then it will give another benefit to you.

daarul50

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Quote from: binhvo1505 on November 03, 2019, 09:04:14 PM

Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

1) fake volume is made up of bots in exchanges. For large exchanges, they also always create bots to create more liquidity for exchanges. It always trades non-stop every 10 seconds or 30 seconds.
We have almost no solution because there are no rules in the crypto market. But anyway, you can still liquidate a lot of large exchanges and traders feel the same way, so we have no one to sue for fake volumes.

that is correct , i have been trade on huobi, okex and digifinex they are a joke.

the faking volume is vey obvious made by them , it is obviously wash trading where the bots making buy and sell order for their own. i have an experience where i put my sell order @7500 usdt it never gets sold but i see there a lot of trade activity going on history tab that other sell order below 7500 usdt has been executed several times , what the fuck.
cmc fully aware about this matter but none action taken so far , i guess when money talk , everything is clear.

did cmc doing that for the sake of money over reputation?

wajik-tempe

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Quote from: desticy on November 04, 2019, 06:19:43 AM

Little can be done with this problem; first of all, you can use the services of a site that provides access to real volumes. On it you can see which exchanges to wind up their volumes, and which not.
The winding up of volumes occurs through the use of bots that trade among themselves, the exchange buys from itself and sells to itself. At the same time, it is quite difficult for real people to sell any coins on a similar exchange because bots do not respond to their orders. Unfortunately, the entire crypto market holds on to fake trading.

Please let us know which website that you talking about that have a feature that provides access to real volume, because i'm looking for that. Exchanges right now is really hard to track, many exchanges looks so crowded with big daily volume but they filled it with bots. and also it might be from the exchanges itself but from the people outside that made a bots for those exchanges and the exchange could do nothing with it.

desticy

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Little can be done with this problem; first of all, you can use the services of a site that provides access to real volumes. On it you can see which exchanges to wind up their volumes, and which not.
The winding up of volumes occurs through the use of bots that trade among themselves, the exchange buys from itself and sells to itself. At the same time, it is quite difficult for real people to sell any coins on a similar exchange because bots do not respond to their orders. Unfortunately, the entire crypto market holds on to fake trading.

alan2here

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Quote from: zeze18 on November 03, 2019, 09:54:19 PM

I think CMC could not detect between real transaction and bots transaction because those 2 are similiar and the bost also using people's name like usual.
So, we have to experienced trading on the market first before we can feel the volume on the market is from bots or no. Or we hope CMC can handle those bots with their engine in the future

This month there will be a lot of news related to CMC and the thing that people are most interested in is the elimination of fake trading volumes of more than 100 different exchanges available in this market. Actually, when I looked at the top exchanges at CMC, I was very surprised and found it very funny because exchanges like P2P, Latoken always have very high rank. In my opinion, if I cannot eliminate fake trading volume in the near future, I will definitely never go to CMC again because everything here is false.

Also what worries me the most is the manipulation of CMC because many of the coins listed here are not updated and make the project easy to be forgotten.

EdvinZ

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I know two resources that show statistics on all cryptocurrency exchanges. The first is good old Coinmarketcap, the second is Coingecko. They're both good. If you doubt that an exchange provides you with false data on trading volume, then just look at behavior of orders in stock glass. Bots raising trading volumes it is easy to recognize.

Text

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Then don't just rely only in one source. CMC is a good reference but it is better if you can also look for alternative and compare it. Its a huge data, exchanges/coin/tokens/prices/volume and etc., they can't handle it all anymore at the same time. What you can do is check the specific thing you are following then read the reviews/feedbacks and see it for yourself.

Edraket31

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As per CMC, they are charging 'free listing' so, they don't care much of it, they are just after the number of users visiting their website, so don't just rely on it, for comparison use other market cap ranking system or go to the exchange itself.

As far as I know the CMC is not including those exchanges who has a fake volume. But I hope that they will delist those coins who are not supposedly be there and has proven to be scam.

tippytoes

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Quote from: Dewi Aries on November 03, 2019, 09:24:57 PM

I never rely my trading activity only from CMC. Usually i use CMC only to see price of a coin in each exchanger that still listed that coin. Only that and nothing else, i think we must back to old way when we must analyze by ourself. When i trading in Bittrex and Poloniex in past, i only rely on chart although i am not really good at it in any my trading activity.

CMC is just for quick reference and not an accurate website to refer on. Though it is also one of the sites that I really go into everyday, but if I want better info, I check also coingecko. They will give you normalized volume. Though I don't know exactly their metrics on how to trim down the volume but I guess, they are giving values that are near reality.
Right now, we can't do anything about CMC's data, but it is yourself that can save you from misleading info. Do your own homework and analysis for specific coin that you want to trade.

Wintersoldier

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Quote from: NathanJB on November 03, 2019, 08:51:28 PM

Coinmarketcap's reputation is being tarnished by all these exchanges reporting fake volumes. They should be the one to initiate an effort to cleanse its list of scam exchanges. I think they should need to ask indubitable proofs and evidences from exchanges that their submitted volumes are not fake. Any hint that there are fake figures in their reports should be enough for them not to get listed in coinmarketcap.

Coinmarketcap might not be providing the exact information concerning volume of the market, some of us might think there is a manipulation of the volume. But I can guarantee, there's no system that is perfect and there are some instances that CMC is having issues too. If we really want to get the most reliable source, cross reference different exchange and see the average volume you need. But for me, If I will just look how the market is going, I still prefer visiting CMC for the sake of knowing the general market condition.

Shasha80

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Merit: 318

My advice is not to make decisions based on just one source, I usually when looking at data in CMC I often compare with another site.
So if something goes wrong, it will be found out soon because the data is different. Exchanges can make fake volume, because in these
exchanges there are bots who take part in trading. Problems with exchanges with fake volumes can be overcome by always comparing
data from two different sources, another solution asking for input from the trading community. Usually in the community often exchange
experiences about various kinds of exchanges. In conclusion, gather as much information as possible from various sources, we will study
later will find where good exchanges and bad exchanges.

zeze18

sr. member

Activity: 938

Merit: 256

I think CMC could not detect between real transaction and bots transaction because those 2 are similiar and the bost also using people's name like usual.
So, we have to experienced trading on the market first before we can feel the volume on the market is from bots or no. Or we hope CMC can handle those bots with their engine in the future

Dewi Aries

legendary

Activity: 2716

Merit: 1092

Leading Crypto Sports Betting & Casino Platform

I never rely my trading activity only from CMC. Usually i use CMC only to see price of a coin in each exchanger that still listed that coin. Only that and nothing else, i think we must back to old way when we must analyze by ourself. When i trading in Bittrex and Poloniex in past, i only rely on chart although i am not really good at it in any my trading activity.

Pearls Before Swine

sr. member

Activity: 1190

Merit: 306

Quote from: rijaljun on November 03, 2019, 12:56:49 PM

Two different steps, two different years.

Changes nothing.

I'm not sure what they could do anyway. There are many exchanges and so many coins on the market that it would be a nightmare to verify legitimacy even if they were so inclined to do more about the problem.

It sucks that you have to take the volume numbers with a grain of salt, but so be it. This won't change until these exchanges start getting honest, and I doubt that's going to change. Ever.

Quote from: princerepon on November 03, 2019, 12:34:33 PM

1. How can an exchange create such a fake volume..?

The volume isn't actually created, just the number they report. It's a lousy thing to do, but it couldn't get any easier.

binhvo1505

member

Activity: 728

Merit: 11

https://streamies.io/

Quote from: princerepon on November 03, 2019, 12:34:33 PM

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

1) fake volume is made up of bots in exchanges. For large exchanges, they also always create bots to create more liquidity for exchanges. It always trades non-stop every 10 seconds or 30 seconds.
We have almost no solution because there are no rules in the crypto market. But anyway, you can still liquidate a lot of large exchanges and traders feel the same way, so we have no one to sue for fake volumes.

jakelyson

legendary

Activity: 2240

Merit: 1069

CMC is not enough to make good trading decisions anyway. So a good trader should not just rely on CMC but should do deeper research and analysis themselves.

Quote from: cryptothreads on November 03, 2019, 08:05:17 PM

Currently, I only trust the top exchanges that are chosen by people because these are exchanges with large trading volumes and can liquid at any time if you want.

Even top exchanges have trading bots that can be used to pad their volumes. All you can do is analyze which pairs have enough real people trading to offset the trades of bots.

NathanJB

sr. member

Activity: 756

Merit: 251

Coinmarketcap's reputation is being tarnished by all these exchanges reporting fake volumes. They should be the one to initiate an effort to cleanse its list of scam exchanges. I think they should need to ask indubitable proofs and evidences from exchanges that their submitted volumes are not fake. Any hint that there are fake figures in their reports should be enough for them not to get listed in coinmarketcap.

marcbitcoins

full member

Activity: 854

Merit: 108

CMC is only a tool for trading in which we should not rely everything to them as we don't know if the exchanges has an system upgrade in which CMC will not be able to detect the changes of their volume immediately therefore i suggest that we do monitor the exchanges with diligence to avoid their fake volumes.

cryptothreads

hero member

Activity: 1274

Merit: 500

Quote from: Immakillya on November 03, 2019, 05:06:45 PM

I don't know if CMC does the volume checking. It's funny because some of top on the list of cryptocurrency exchanges are unknown or not really popular. I think CMC are just after the money. They should have top exchanges with fake volumes too. Better make a poll here and see what exchange give them a better experience. I don't trust CMC. So better do something to make things clear what exchange is suitable for you. Making a poll here is a good way to start.

I think the fake trading volume is difficult to check and any exchanges are using this to get high rankings at CMC. As far as I know in November there will be very special information and will certainly eliminate the fake trading volume at some exchanges. I hope this can go smoothly because a lot of bad exchanges like Latoken, P2P, Vindax always have very high ratings in this market.

Currently, I only trust the top exchanges that are chosen by people because these are exchanges with large trading volumes and can liquid at any time if you want.

deadsilent

hero member

Activity: 1148

Merit: 500

Don't trust CMC. Make your own way to know what exchange is the best. Although all existing Exchanges does have fake volume. You can still know it just by asking people what's the best Exchange ever exist. But if you ask me what is the best Exchange so far? It's Binance. Binance does have many trading pairs that you can use. Actually, they announced they are now have Nigerian currency/crypto and Russian Rubble/cryptocurrency pair. That's a major development for Binance. They just don't settle on few pairs.

tenakha

hero member

Activity: 1470

Merit: 509

Quote from: princerepon on November 03, 2019, 12:34:33 PM

1. How can an exchange create such a fake volume..?

The false inflated volume by the trade of bots can belong to this.

Quote from: princerepon on November 03, 2019, 12:34:33 PM

2. What is the best solution for this problem..?

Frankly, CMC does not have much thing to do in this regard. Devs set some criteria for exchanges to be added to list, but there are some differences that you can not take against them. If you wish, try other options like coinlib.

Quote from: princerepon on November 03, 2019, 12:34:33 PM

3. Are CMC authority take any steps for those problems yet..?

IMO they are not pleased with this situation too. Because it does not bring them anything to keep site visitors away.

Quote from: princerepon on November 03, 2019, 12:34:33 PM

4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

It is your choice, use whichever suits you best. I guess CMC will not be mad at you for that. lol

Immakillya

sr. member

Activity: 560

Merit: 269

I don't know if CMC does the volume checking. It's funny because some of top on the list of cryptocurrency exchanges are unknown or not really popular. I think CMC are just after the money. They should have top exchanges with fake volumes too. Better make a poll here and see what exchange give them a better experience. I don't trust CMC. So better do something to make things clear what exchange is suitable for you. Making a poll here is a good way to start.

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

Quote from: princerepon on November 03, 2019, 12:34:33 PM

What is the best solution for this problem..?

Don't prefer using cmc only as a tool for your trading data gathering and analysis, use other market cap ranking sites too here some altenatives. And even from search google for best results of experience and review for some coin and exchange to use.

pixie85

hero member

Activity: 2184

Merit: 531

Exchanges can execute fake trades between its own addresses and boost volume this way. It doesn't cast them anything because they aren't paying trading fees for their own fake trades Wink

CMC is excluding exchanges who are proven to be faking volume. You can see some exchanges on CMC that are listed but there's no data next to them and those exchanges are not counted because they are faking. It's hard for CMC to prove anything to bigger exchanges that already have some high real volume so I don't think they will delist every single suspect. Probably 80% exchanges fake volume. Chinese exchanges were faking it in 2013 and 2014 Cheesy

iamaruf

sr. member

Activity: 1064

Merit: 265

Vave.com - Crypto Casino

Quote from: princerepon on November 03, 2019, 12:34:33 PM

1. How can an exchange create such a fake volume..?

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

I don’t know others questions answer. They use bot create fake volume.these bots trade automatic to create high volume. Website admin or there mods control this bots.even maximum Exchanger use bots to create high volume in there exchange.

Harlot

hero member

Activity: 1806

Merit: 672

Don't you even counter-check the volume in your own exchange or charts in tradingview? Simply just relying what you see in coinmarketcap is a careless act of a trader to do. It's like basing a trade on only one source which will be totally inaccurate if you ask me. Some exchanges do come a pre-built chart on their platform so why do rely on coinmarketcap to see what are the gainers/losers? If you are looking for alternatives marketcap.cc is claiming to have remove fake volume on their data and I think it's better to have a second source rather than basing it purely on cmc.

rijaljun

sr. member

Activity: 1274

Merit: 267

Quote from: princerepon on November 03, 2019, 12:34:33 PM

3. Are CMC authority take any steps for those problems yet..?

Two different steps, two different years.

Changes nothing.

princerepon

full member

Activity: 994

Merit: 101

My morning starts with visiting CMC (Coin Market Cap). It's not only me, maximum people in this forum do that too i guess. But my thought is how much trust able CMC for trading or knowing a new exchange or coins..? I mean couple of shit exchange sometimes make top in CMC. People will easily confuse that which exchange or coins are safe investment for that kinda fake volume. So my question is...

1. How can an exchange create such a fake volume..?
2. What is the best solution for this problem..?
3. Are CMC authority take any steps for those problems yet..?
4. If they'll not take any steps will it be a good idea to ignore CMC and find some new Market Cap website like CoinGecko..? (Though i don't know how much trust worthy this website also)

Please feel free to share your thoughts.

-TIA Kiss

Best Regards
-Prince

Topic: What is the solution about CMC fake volume..? (Read 544 times)