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>First of all, a market cap of $300 billion could not be spoofed. Market cap number is irrelevant to whether or not it is spoofed. That's just the current trad

>First of all, a market cap of $300 billion could not be spoofed. Market cap number is irrelevant to whether or not it is spoofed. That's just the current trading price * the outstanding coins. If 99% of the people holding the coins do not trade, that means 1% is manipulating the price.

Moodles 9y ago
Hah yeah. Extreme example: I make 1 gazillion "Moodle-coin". I sell you one for 1$. Oh snap, Moodle-coin is now worth a gazillion USD.
CryptoPunk 9y ago
The trading volume is what determines how plausible it is that the market cap is spoofed. It's literally the second line in my comment: >The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate .. You can't spoof a market price at the volumes that the major cryptocurrencies trade at. I mentioned the market cap because it is generally associated with trading volume, so gives you an idea of how much the asset is being traded.
- hueving 9y ago
  Trading volume can easily be faked in unregulated exchanges. These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Look at the entire USDT fiasco for an example.
  - CryptoPunk 9y ago
    Trading volume across a diverse range of exchanges cannot be easily faked. Large exchanges with institutional investors, like Coinbase, are not going to fake their volume. >>These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Many of them verify ID and don't allow people to have multiple accounts. Also, people pay fees on every trade. All of this volume being a conspiracy by people, working on a dozen exchanges, and willing to pay millions in fees to each exchange just to pump up its volume, is highly unrealistic. It's not how conspiracies work. There needs to be a way to enforce a pact for a pact to be successful. No such method exists for the thousands of traders across the world.

Moodles 9y ago

Hah yeah. Extreme example: I make 1 gazillion "Moodle-coin". I sell you one for 1$. Oh snap, Moodle-coin is now worth a gazillion USD.

CryptoPunk 9y ago

The trading volume is what determines how plausible it is that the market cap is spoofed. It's literally the second line in my comment: >The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate .. You can't spoof a market price at the volumes that the major cryptocurrencies trade at. I mentioned the market cap because it is generally associated with trading volume, so gives you an idea of how much the asset is being traded.

hueving 9y ago
Trading volume can easily be faked in unregulated exchanges. These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Look at the entire USDT fiasco for an example.
- CryptoPunk 9y ago
  Trading volume across a diverse range of exchanges cannot be easily faked. Large exchanges with institutional investors, like Coinbase, are not going to fake their volume. >>These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Many of them verify ID and don't allow people to have multiple accounts. Also, people pay fees on every trade. All of this volume being a conspiracy by people, working on a dozen exchanges, and willing to pay millions in fees to each exchange just to pump up its volume, is highly unrealistic. It's not how conspiracies work. There needs to be a way to enforce a pact for a pact to be successful. No such method exists for the thousands of traders across the world.