Boycott Coinmarket cap for deliberately crashing the markets

scandinavianlife (67) in cryptocurrency • 7 years ago (edited)

Skjermbilde 2018-01-08 kl. 23.45.49.png

These people literally crashed the markets today. No heads up, no info. And no excuse even!
It would be decent to at least notify people before crashing an entire market.

I'm going to find better sites.

Checking out Live Coin Watch which is a pretty cool site with live prices.

Here you can even add your portfolio like Blockfolio. Really nice site! Oh...and they have the correct market prices, unlike CoinmarketCRAP!

cryptocurrency bitcoin crypto blockchain beyondbitcoin

7 years ago by scandinavianlife (67)

$27.41

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!

Sort Order:

Trending

[-]

atmosblack (63) · 7 years ago

I understand your concern, but on the other hand, CMC didn´t crash the market but peoples sheep mentality. It´s all a big self fulfilling prophecy - markets go down, because people think it will go down - the opposite being true as well. Also it´s a very valid point they make and a good choice longterm to pull these exchanges out of their calculation. Imagine how powerful the owners of CMC now feel, when they see all these post that say that they have crashed the market. It´s generally very interesting to watch, how powerful these services seem to be. Take Coinbase for example. Did they manipulate the market with their decision to add BCH or their (momentary) refusal of Ripple? Again a self fulfilling prophecy! Coinbase is just as powerful as people make them in believing that they are!

$0.27

1 vote

[-]

scandinavianlife (67) · 7 years ago

Well, sure..but normally a big market player like cmc should notice their customers in advance before doing something like that. Sure, sane people dont see the big thing, but all the inexperienced kids freak out.

$0.00

1 vote

[-]

simondocherty (52) · 7 years ago

Absolutely ridiculous.

CMC removed Korean exchanges
Prices/graphs instantly tanked (but in practice not relevant to people outside Korea who dont trade there anyhow)
Large number of people did not recognize what actually happened and that there were not moves/selling on their western exchanges
Those same people are now dumping large amount of coins trying to "cut loses" because of the false impression that coin is crashing.
Random stuff happening

$0.05

1 vote

[-]

scandinavianlife (67) · 7 years ago

And someone making a shitton of money by selling before the crash and then probably buying in. People need to have some more patience and chill. If you're going to sell out on cryptos just because of some market manipulation, you're never going to go to the moon in a lambo. :)

$1.59

2 votes

[-]

gzmgndgdu (52) · 7 years ago

this is not nice at all hope you find better sites @scandinavianlife

$0.00

1 vote

[-]

cryptomeeks (53) · 7 years ago

what were prices looking like today for coin market cap to effect the market that much??

$0.00

[-]

scandinavianlife (67) · 7 years ago

It fell from $840 billion to $630 billion in a few hours. That's a cool 25% or so.

$1.61

1 vote

[-]

cryptomeeks (53) · 7 years ago

Damn if I saw that I would have a melt down. Such fuckery.

$0.00

[-]

sift666 (65) · 7 years ago

Crashing the market sort of depends on how much of your portfolio was bitcoin! If it was more Etherium heavy the market is doing OK :)

You might want to boycott China as well...

$0.00

[-]

scandinavianlife (67) · 7 years ago

Uh...yeah, Eth wasn't that much down. I have 60 cryptos and let's just say my portfolio was down quite a bit (10%) but still doing better than the markets (down more than 20% at worst) I'm not heavy into Bitcoin..about 18% now.