4 ms·

The actual volumes on different exchanges are not anything close to that disparate, so while your hypothetical does raise a real way that such a claim could be

The actual volumes on different exchanges are not anything close to that disparate, so while your hypothetical does raise a real way that such a claim could be misleading, it has nothing to do with the actual situation at hand.

nullc 8y ago
The presentation (linked in another comment here) lists a number of exchanges which they believe are presenting fake data: CoinBene, RightBTC, CHAOEX, IDAX, LBANK, BitForex, Exrates I don't think I've heard of any of these, and there are zero hits in my email. They go on to identify pretty much every exchange I've ever seen discussed on HN (for example) as having legitimate volume-- coinbase, bitstamp, bitfinex, gemini, ... I think the headline should instead be "coinmarketcap volume claims are nonsense" -- which I think most people in the bitcoin space would say "well, duh". At least my view purpose of coinmarketcap and similar sites seems largely to direct people to the latest token pumps, as evidence by the absurd "market caps" they display for illiquid pre-mined tokens... What set off alarms for me is that there is no way that you get to 81 exchanges without including some really sketchy or obscure stuff. But a site that wants to list sketchy tokens needs to include the sketchy exchanges because for the most part the non-sketchy exchanges won't list them.
- thinkmassive 8y ago
  Bingo. I started using Messari/onchainfx and it’s a much better alternative.
aeternus 8y ago
Not quite that extreme, but the difference is quite disparate. Coinbase Pro (legit) has a 24h volume of 53,234,129 whereas Coineal is reporting 740,643,873. A quick google / google trends search shows that Coineal is basically unknown compared to Coinbase. Article seems to be going by: https://coinmarketcap.com/rankings/exchanges/ https://coinmarketcap.com/rankings/exchanges/

4 ms·

The actual volumes on different exchanges are not anything close to that disparate, so while your hypothetical does raise a real way that such a claim could be

by mikeash 8y ago

nullc 8y ago
The presentation (linked in another comment here) lists a number of exchanges which they believe are presenting fake data: CoinBene, RightBTC, CHAOEX, IDAX, LBANK, BitForex, Exrates I don't think I've heard of any of these, and there are zero hits in my email. They go on to identify pretty much every exchange I've ever seen discussed on HN (for example) as having legitimate volume-- coinbase, bitstamp, bitfinex, gemini, ... I think the headline should instead be "coinmarketcap volume claims are nonsense" -- which I think most people in the bitcoin space would say "well, duh". At least my view purpose of coinmarketcap and similar sites seems largely to direct people to the latest token pumps, as evidence by the absurd "market caps" they display for illiquid pre-mined tokens... What set off alarms for me is that there is no way that you get to 81 exchanges without including some really sketchy or obscure stuff. But a site that wants to list sketchy tokens needs to include the sketchy exchanges because for the most part the non-sketchy exchanges won't list them.
- thinkmassive 8y ago
  Bingo. I started using Messari/onchainfx and it’s a much better alternative.
aeternus 8y ago
Not quite that extreme, but the difference is quite disparate. Coinbase Pro (legit) has a 24h volume of 53,234,129 whereas Coineal is reporting 740,643,873. A quick google / google trends search shows that Coineal is basically unknown compared to Coinbase. Article seems to be going by: https://coinmarketcap.com/rankings/exchanges/ https://coinmarketcap.com/rankings/exchanges/