/biz/ - Business & Finance

https://coinmarketcap.com/currencies/bitcoin/

>>13217729
The chinks just figured out new and better ways to wash trade.

>>13217729
Whales

>>13217737
This figure is mostly fake. Not fudding but the fake volume on CMC vastly overwhelms the real volume and presents a distorted picture, i.e., it compresses the dynamic range out of the graph. The lows and the highs are too close together. I hope you get what I'm trying to say.
Go here for the real number https://www.bitcointradevolume.com/

>>13217729
FIRST SELL OFF CONFIRMED

>>13217892
Not quite sure I understand but it does seem too good to be true.

>>13217957
I'm a little drunk but lemme see if I can make some sense. 5% of the volume is real actual economic buying and selling on legit exchanges like Binance, Coinbase, Poloniex, etc. 95% of the volume is fake wash trading just to pump up numbers to attract high listing fees. This happens on literal who exchanges like coinbene, Bibox, Lbank, etc. You know, the exchanges nobody uses but somehow manage to post numbers like 600 million dollar 24-hour volume. Like, who the fuck are you kidding.
The problem is those exchanges that post the fake volume make up 95% of the numbers reported on coinmarketcap but since the numbers are fake, they don't rise and fall at the correct rate with the real volume. So if Binance's volume tripled over the last few days due to real buying and selling, the fake exchanges might only double or go up 1 and a half times as they are just faking it and aren't keeping the numbers up to match the real market. What happens is while the real volume is a much higher multiple of a typical day, the fake volume overwhelms this and makes it look like it isn't as high. This is the distortion I'm talking about.
In a nutshell, you can't trust what you see on coinmarketcap. You can't trust what is there today and you sure as fuck can't trust what you see for 2017 when for all we know Binance being a new exchange at that time may have been faking though they are legit now.
In a nutshell, the volume on CMC is a scam, exchanges pump up that volume to trick projects into paying high listing fees. The only reliable volume is from the 10 or so legit exchanges I posted earlier. DYOR

>>13218046
What?

>>13218068
Read this
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf

>>13218068
Are you stupid? Read it again it made sense

https://twitter.com/BitwiseInvest/status/1109114656944209921

>>13218126
Yep. And I left out one key detail regarding the compressed distorted volume chart. Not only is the high volume too high though paradoxically not high enough relative to the real low volume days but the low volume days are too high because the fake volume exchanges are just churning away while the legit exchanges aren't. So you the volume chart should have huge swings between low and the recent highs we are now seeing since this pump. We are seeing swings but not nearly the correct large amplitude. Total volume is much lower than reported and the swings are much wider. Just read the report from bitwise everybody, they know what's up

>>13217729
bloomberg and the other news stations said to ignore it. i might be interested in investing in "the blockchain" because that is revolutionary, but bitcoin is a failed experiment destined to go to zero. it doesn't produce income so it's not a real investment.