Why are exchanges still listing shitcoins? - page 7.

The Sceptical Chymist

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Quote from: crabby on January 27, 2020, 07:44:55 PM

I saw BitMart list TSL.

Never heard of BitMart, never heard of TSL.

As to why exchanges keep shitcoins listed, it's mainly because they do still get traded--in fact, that's the only purpose they've ever served. None of them get used as currency, and my guess is that most people don't hold them for the long term. And take a look at Yobit and all the shitcoins they have listed. Some of them seem to be exclusive to Yobit and I'm not even sure they exist outside of that exchange. And Yobit is probably the worst in terms of having coins listed that have no volume and which can't be withdrawn because their wallets are always in maintenance mode.

Also, the definition of a shitcoin is somewhat subjective. Some folks think doge is a shitcoin, whereas others think it's one of the best, and most exchanges have it listed. But when you're talking about a coin like TSL (whatever it is), there would probably be unanimous agreement that it qualifies as one. I've no idea why that BitMart exchange has it listed aside from my guess that there are probably some people who still trade it.

Triffin

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Quote from: cotton ball on January 28, 2020, 05:09:05 AM

Many exchange still listing with shit coin because they got higher payment fees each shit coin listed on their market, is not free when have any coin want listed with several exchange market, why many exchange listing with many shit coin because they only think with how much profit get from shit coin.

Yeah you are right and this is the main reason that why they are still listing shitcoin, and I do not think that why that type of exchanges are just thinking their own profit, so I think if they think about their users benefits then it will be very good for us and otherwise the all new investors need to do more research about a coin before their investment.

el kaka22

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I have seen listing fee as one of the biggest reasons for it, plus there is the comfort of listing tens of these coins and then makes a big amount as well. Think about it, there is 100 coins that worth almost nothing and definitely doesn't have any decent volume as well, you tell the owners that you charge 1 btc to list there, and you tell them they need to have at least 5 thousand dollars volume or you will delist them, what do they do?

They give you 100 btc plus try to keep the volume up and keeps you getting paid, all those 1000 dollar ones eventually gets delisted no matter how long it takes but all of that comes as free money for you in the end.

Exchange business doesn't rely on trading fee for the bare minimum small coins, they just get it for big payment up front to get listed.

spike420211

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For the same reasons that the majority of things in our world happen - because of money. Of course, it is worth taking into account what kind of coin in question.
After all, there are shit-coins representing absolutely nothing of themselves, placed on weak exchanges only in order to subsequently be sold at zero by the exchange itself or by the developers of this coin.

Another type of shit-coins has a slightly different behavioral structure. They are placed on major top exchanges. They have great liquidity, and with their help they earn money on cycles of market recovery and from the pad. That is, an absolutely speculative product that circulates in the ecosystem of the crypto market only in order to draw money from investors to one degree or another. Everything is done for the sake of money.

Ucy

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Depends on what you mean by s*tcoin. We currently don't have any general agreed standards of what makes a cryptocoin, s*t or good coin. If such standards exist, we will really know what exchange is breaking the listing rules and probably tag or avoid them.

Kemarit

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In the example you have given in your article, I would say that it is an exception,

Quote

You may recall the slew of exchanges that delisted BSV. The social pressure to participate in the festivities of delisting BSV caused many exchanges to join the movement and delist the asset.

Binance for example delisted it because of the shady personality behind, CSW. If we pressure small to mid tier exchanges thru twitter, I don't think they will just simply cave in. Exchanges are businesses, and for them to exist and continue, they have to make profits. And they can get it by listing any coins that shows interested on their exchanges. Yes, this is plaguing our crypto markets, but I would say that at the end of the day, exchanges are more willing to accept coins to be listed even though they are shitcoin. The thing is that after months of under performing, then exchanges should look at every coin they have accepted and somewhat de listed who are not doing any good, (low volume, no activity, developers totally abandoned the project).

Captain Corporate

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I have talked with one of these people and asked them why they do it, they said people who just join because of one coin may end up staying for the other ones as well. For example if one person is using x exchange but they have A coin in their wallet that is not listed on that X exchange they may look for all other exchanges that lists that A coin right? So they found this Y exchange and it lists the A coin they have but also all the other coins they also have as well, so instead of using the X exchange they go to Y and than they even keep trading there instead. So with all the small coins they list, they are basically doing marketing as well.

mu_enrico

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It is because bagholders need hope Grin

Seriously, who knows that the shits would not turn into gold in the future? Plus, it might still increase the trading volume even for a bit. Also, like others have said, the devs previously paying a substantial amount of money to get listed, probably for x years agreement.

Free1bitco.in

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I suspect that they are also paid a sufficient amount to list on their market. however, they certainly have the conditions and the shitcoin has fulfilled the requirements. besides that, I feel that shitcoin also has its own goals, it's just that it doesn't work accordingly.

Dart18

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Profits I think.
As long as there is one then acceptance will be there.

Let us say they need to pay for listing. An exchange wouldn't really care much about it but will just input how much the fee will be.
If there will be buyers then good, and so does with sellers.

Money. We can talk about it all day long but that is what it is all about.

Barbut

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Quote from: joeperry on January 28, 2020, 07:46:03 AM

1. To increase the coin listing on their market (The more coins on their market the many the traders)
2. Every approved coin that was listed on the market they received a payment for it

From these two reasons we can assume that exchanges care only about the profit they make. Centralized exchanges are like companies, they have their own rules and they work as they think it's best for them. Some exchanges are responsible and they will not list any coin, some are open for all the projects, good and bad. This is one of the reasons why we should be extra careful when we are choosing an exchange. Same as we need to be careful when we are choosing a coin to trade with.

Golftech

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Quote from: joeperry on January 28, 2020, 07:46:03 AM

Well you can't blame them however for what I've known it's their responsibility if that project or coin end up as a scam. The reasons that came to my mind thinking why the exchanges still listing shitcoins are:

1. To increase the coin listing on their market (The more coins on their market the many the traders)
2. Every approved coin that was listed on the market they received a payment for it

well all known cryptocurrency trading markets are accepting payment if someone wanted their coin to be listed the only difference is that the reputable markets study the project, look for legal documents, research if its scam and making sure that the project was legitimate before accepting it, unlike the shit markets they just list coin for profit and they didn't care about their traders.

Both are considered as exchange reasons to list coins, attracting more possible investors and traders if those shitcoins that they are holding
was listed to exchange while exchange fees are the main breathing by this types of business.
Exchanges are responsible though the chance of sorting everything is tough as shitcoin developers are experts from hiding the real intentions
of what they've created.

joeperry

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Well you can't blame them however for what I've known it's their responsibility if that project or coin end up as a scam. The reasons that came to my mind thinking why the exchanges still listing shitcoins are:

1. To increase the coin listing on their market (The more coins on their market the many the traders)
2. Every approved coin that was listed on the market they received a payment for it

well all known cryptocurrency trading markets are accepting payment if someone wanted their coin to be listed the only difference is that the reputable markets study the project, look for legal documents, research if its scam and making sure that the project was legitimate before accepting it, unlike the shit markets they just list coin for profit and they didn't care about their traders.

Gyfts

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I'm convinced some of the lower tier exchanges are getting paid off to list low volume worthless altcoins just to create a sense of demand. Investing in some of these altcoins with zero supporting technology is akin to torching your money on fire so the trading volumes are probably inflated with backers of the coin colluding with exchanges to prop it up. I wouldn't put it past some of the larger exchanges to pull this shit off either but I don't have any evidence for it other than skepticism I have for some PissCoin420 with a 30M marketcap.

target

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Quote from: cotton ball on January 28, 2020, 05:09:05 AM

Many exchange still listing with shit coin because they got higher payment fees each shit coin listed on their market, is not free when have any coin want listed with several exchange market, why many exchange listing with many shit coin because they only think with how much profit get from shit coin.

Its these high listing fee that exchanges can't refuse the shitcoins team for wanting their coins to be listed. I tried looking for TSL information but ithe team didn't posted an ANN thread. Interesting because its price is worth $0.70 (0.00007885 BTC) to which today had just been pumped to 392.50%. I guess OP noticed it that made him created this thread.

cotton ball

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Many exchange still listing with shit coin because they got higher payment fees each shit coin listed on their market, is not free when have any coin want listed with several exchange market, why many exchange listing with many shit coin because they only think with how much profit get from shit coin.

bassbity

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Only low exchanges still register shitcoin to their exchanges, low exchanges only prioritize money compared to its liquidity because a lot of shitcoins come in so that the price of tokens can be easily manipulated by certain projects for many who glance at it and of course this will not last long in its trade.
Shitcoin is listed on the low exchange a lot this has happened recently.

worle1bm

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It's one of the many malpractices most of the crypto exchanges are doing these days. First they list unknown coin on their platform. Then they lure users to invest in the coin by creating fake volumes and fake executed orders. Then they pump the price to create FOMO. Once enough users buy the coin, they erase most of the fake buy orders creating instant dump in the value of token. This practice is very common in tier-two exchanges that are the exchanges having market volume less than $10M.

maydna

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It is because of money. When the project wants to list their token/coin at the exchange, they need to pay some fee to that exchange so they can get the market. That is why we see many projects list on the small exchanges or big exchanges, and that makes the exchanges get more profit from the listing for the new coins/tokens.

Some exchanges need to verify the coins/tokens before they can list the coins/tokens, but some of the exchanges don't need that, and we can see that many shitcoins are list on many exchanges.

iamaruf

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majority percent of exchanger add shit coins because of money.Because they get paid for it.There are few exchanger,they add good coin.Good project/Coin doesn't pay enough money for listing or they paid low money for listing.Good coin gives priority to their development more than money.On the other hand shit coins don't have enough prove that they are legit and they pay huge money for listing.Suppose good coin maximum pay 1BTC for listing and shit coin pay 5-10BTC for listing an exchanger.In this case exchanger thinks about money and they added shitcoins.Also few shitcoins pumped for days that time they received huge money. Main reason behind listing is huge money.

Topic: Why are exchanges still listing shitcoins? - page 7. (Read 1448 times)