5 ms·

I don't say I know, I say that I think. It remains a possibility that they are wash-trading.

• spookthesunset 7y ago
  > It remains a possibility that they are wash-trading. I'd say they all have every single incentive to wash-trade, front-run, and otherwise cheat the hell out of their system to their advantage. After all, they are completely unregulated and almost always operate well outside any jurisdiction who would care to go after them. I'd say you'd be silly to assume they aren't doing ultra-shady crap.
  • account73466 7y ago
    The trade-off is the following. If serious traders don't make any profit on a platform but make it on another one, they will leave. That is the primarily reason for an exchange to steal money at a reasonable rate instead of doing some super greedy stuff.
    • spookthesunset 7y ago
      Their target isn’t “serious traders” like folks on Wall Street. Most bitcoin people think they are the “serious traders” but in fact they are the very rubes that get scammed by these exchanges. With most things bitcoin you are either the one doing the scamming or the one being scammed. Often you can even play both roles! It is what keeps the ecosystem interesting!
  • buboard 7y ago
    Their BNB coin used to pay fees outperforms bitcoin past year. Is that wash trading as well?
    • 9nGQluzmnq3M 7y ago
      Not necessarily, it could be a Ponzi scheme instead.
      • buboard 7y ago
        it's a public blockchain. can it even be a ponzi scheme?
        • spookthesunset 7y ago
          Most exchange trades aren’t done on-chain.
• corford 7y ago
  >It remains a possibility that they are wash-trading. https://cryptopotato.com/95-of-bitcoin-trading-volume-is-fake-mostly-by-unregulated-exchanges/ https://cryptopotato.com/95-of-bitcoin-trading-volume-is-fak...
  • account73466 7y ago
    I was referring specifically to Binance, see my text. It is a common knowledge that most other exchanges wast trade.