Most Bitcoin Trading Faked by Unregulated Exchanges, Study Finds

The more info comes out about cryptos, the more people learn about this fake world. The only reason why it is not crushing, is the fake volume, plus things like USDT.
 
*snicker* And people thought I was nuts when I said it cannot work, and cannot replace gold or fiat USD.

You cannot make something out of nothing, give it a limited amount, and expect it to be worth anything. Ever. Nobody uses your thing, your thing becomes worthless.
 
Overnight said:
*snicker* And people thought I was nuts when I said it cannot work, and cannot replace gold or fiat USD.

You cannot make something out of nothing, give it a limited amount, and expect it to be worth anything. Ever. Nobody uses your thing, your thing becomes worthless.
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Whether you believe it anot it has the potential to replace fiat. There are people using bitcoin for payments, ive done it before too and its much better than going through a third party.
 
HolyGrailSeeker said:
Whether you believe it anot it has the potential to replace fiat. There are people using bitcoin for payments, ive done it before too and its much better than going through a third party.
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You can use bitcoin at overstock.com and microsoft xbox store. So its not like this a completely useless currency.
 
HolyGrailSeeker said:
This is not a secret. If you trade you know most are controlled by bots.
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That's not what the article is saying, though. They are alleging that most of the daily volume is not real trading but rather painting the tape by exchanges.

PS. I don't trade crypto, but my thinking is that the fake volume is much lower, on the order of 30-50%. Simply thinking that about 60%-70% of volume goes to large exchanges who have no incentive to paint the tape while smaller exchanges fake most of the volume (say 95%, as this article says or even almost all of it) on the residual. It's a scary thing nonetheless
 
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