CoinMarketCap users knowingly provides false or fraudulent information. An extensive investigation of the Medium: Chapter 1

CoinMarketCap users knowingly provides false or fraudulent information. An extensive investigation of the Medium: Chapter 1

Popular edition Medium long suspected the website is the world’s number one cryptocurrency CoinMarketCap to provide users with false information, thus manipulating the market and filling their pockets fabulous amounts of money.

Not wanting to be unfounded, representatives of Medium is a fascinating-scale investigation. The volume of information is so large that you apply the material in one article is simply impossible. We will publish for you the results of the study and analysis of the consequences of the actions of the representatives of CoinMarketCap parts.

Chapter 1: the Fraudulent data provided by CoinMarketCap, distort the perception of the entire cryptocurrency market

Since the number of coins in CoinMarketCap list (hereinafter CMC) is greater than 1500, a Medium looked at the data, 1/3 of them (500 coins).

The provided information is factual. Researchers are trying be neutral to its observations, given the seriousness of the information, and provide to CMC a fair chance to correct the data or explain their own methodologies.

If any team coins wants to provide data or comments, we urge you to contact a Medium. In the edition in the course of many stories, as communicated with multiple teams to find out additional information. Some replied, some, fearing delisting with CMC, said nothing.

Medium also realize that your articles open a Pandora’s Box. Further narration is conducted on behalf of the author of the original article.

Not only delisting but also low daily trading volume, and trading volume is able to destroy the coin. We hope that this series of articles will cause CMC to continue to refuse such action, as all the data are carefully studied not only by us but by the community as a whole.

To begin, consider the obviously false data provided by coinmarketcap.com for the whole world. We believe that incorrect information about the coins listed in CoinMarketCap, is one of the biggest crimes in the cryptocurrency industry. According to our research, information on more than 75% of the tokens listed on CMC, is false. Some flaws, such as outdated references to the reviewers of blocks, forums, and websites, can be forgiven, because these resources are beyond the control of CMC. Other problems, such as false capitalisation, have a greater impact not only on the cryptocurrency community, but also the market perception of the world.

Providing falsified capitalization, CoinMarketCap in fact decides which coins to “win” and which ” die “. High capitalization is the coin of benefit, enhancing the users ‘ attention and positively influencing the media. Low capitalization depletes the trading volume of the coin ultimately leads to her death. If it was correct, or at least much more accurate information capitalization, the list of coins on CMC would have been different — some coins would take place tens or even hundreds of positions above or below the list. All because of fraudulent indicators displayed to users in CMC.

It should be noted that numerous attempts to fix given in CoinMarketCap.com information about many of the tokens by accessing the technical support of this resource through accounts in social networks (including forums on BitcoinTalk.org and reddit.com) remained unanswered or were intentionally ignored.

In this regard, it is important to clarify the intentions of team CMC. They know that they provide the wrong information for many coins, but for what reason?

Discrepancies allow us to see the favoritism toward some crypto-currencies (probably CMC themselves hadlet them?), As well as demonstrate direct negative actions against other coins. Other problems arising from this “unfairness” include how are treated the capitalization of coins. Some of these include “burned” coins, others not. Many of them take into account private investor’s coins, others not. Many of the coins included initial proposals, others — no. Some coins have inflated CMC capitalization, including retained earnings coins is still “held” by the founders or associated companies. These retained coins can be awards, partnership programs, but has not yet been granted to the final recipient. Some of these coins will remain in limbo for many years, but the CMC, apparently decided to include them in the cap, trying to raise the rating of the project. The other coins are not the Unallocated tokens that are included in their capitalization. Many of them should be on the first or second page of the ranking list of CMC, but in the end graze the rear, trailing for hundreds of positions.

These problems and inconsistencies, in addition to the evidence given by representatives of the community and many other sources, lead us to believe that the actions of CoinMarketCap fraudulent for financial gain. This need to stop! What is happening is too important to all of us, you cannot leave it without attention.

In proof of his words Medium cites the top 50 crypto-currencies from the list. Examine a comparative analysis of the data indicated on the CMC, and the actual performance.

We, as evidence of fraudulent activities CoinMarketCap, have translated for you the results of a study of Bitcoin. About the other currencies read in the original article.

For research was made screens of information coinmarketcap.com 20 March 2018 at 10.45 a.m. UTC, which used to compile this analysis. Link to backup site on this day. This includes the collection of image data with this backup.

Bitcoin (BTC)

Official website 2 set https://bitcoin.com . For those who are aware of Bitcoin and smart enough to know what’s happening, www.bitcoin.com now is an advertising site Bitcoin Cash (BCH). The link to it should be removed immediately.

Bulletin Board 2 will enter the link https://forum.bitcoin.com . You should immediately delete for the same reason as above.

The market capitalization of Bitcoin at CMC — 16,929,600 BTC, and Blockchain.info — 16 928 925 BTC. One of them (or both) is mistaken about 675 BTC (5 738 $ 600). Information on Blockchain.info definitely inaccurate, as it is only updated once a day, while data on the CMC are updated regularly (hopefully). According to Medium and CMC, and Blockchain.info wrong, because it does not include “burning” BTC. To get closer to the true market capitalization of the Bitcoin lost coins should be included in capitalization, it would never be known for certain whether they left the market.

Why are some data on the CMC include the burned coins, and others not?

The answers to this and many other issues that cause the behavior CoinMarketCap, expect in the near future in the continuation of a series of articles.

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