More than 50% of reported Bitcoin trading volume is 'likely to be fake or non...
A Forbes analysis of 157 exchanges revealed Bitcoin trading volume may not match up to what the companies claim, particularly if they're small or unregulated. Bitcoin trading data from 157 exchanges reportedly did not match up to what companies claimed.According to an Aug. 26 report from Forbes, Javier Pax of the news outlet’s digital asset arm said there was a mismatch between the Bitcoin (BTC) trading data reported by crypto exchanges and the actual numbers. The Forbes contributor found that a group of small exchanges had BTC trading volumes roughly 95% less than those reported, while....
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Bitcoin trading volumes have always surpassed expectations in the past. Last week, celebrations filled the community as the digital asset had reportedly seen more than $1 trillion transacted on the network so far. However, a new report claims that the trading volumes reported by exchanges may be inflated. The main number, they predict, to be much lower than what is being reported, especially on a daily basis. Reported Bitcoin Volume Fake A new analysis report from Forbes has come back with the conclusion that more than half of bitcoin’s daily reported volumes are fake. The report focuses....
The daily bitcoin trading volumes come out into billions of dollars every day, with hundreds of thousands of daily transactions being carried out. It is one of the reasons why bitcoin draws the most investors, given such high trading volume and good depth across all exchanges. However, some on-chain analyzers have been diving into the blockchain to explore the daily BTC volume, and the findings of this study have been alarming. More Than 50% Fake Volume Mostly, in the present market, there is always some amount of volume for digital assets that are actually fake. These fake trading volumes....
A fake Erik Voorhees Twitter account is trying to scam users into filling out a survey to steal their altcoins, the latest blog post from the company reveals. Erik Voorhees, CEO of the cryptocurrency exchange ShapeShift.io had reported the account to Twitter; the account is suspended as of now. The fake account used to mirror the CEO's Twitter account, using the same name and the image, however, there was only a minor distinction. The fake account handle is @ErikVorhees (with a single 'o') while the real account is @ErikVoorhees. Users of the fake account spammed people, asking them to....
2014 is the end of Bitcoin's sixth year. Analysts at the Coin Cadence Bitcoin Index compiled Bitcoin's transaction data for the past six years. In 2014 Bitcoin Transaction Volume Doubled; growing 45.5%. Apparently, fake transaction chains could account for up to 50% of this network traffic. Critical minds in the community are quick to point out the pros and cons of using transaction volume as a metric for growth. Primarily, that a transaction can be "fake" if sending coins back to yourself to no economic end. Effectively, its taking money from your left pocket and putting it in your right.....
Litecoin recorded a 35% and 28.6% profit in the 1-hour and 24-hour charts, respectively, after major mainstream media websites reported a fake LTC integration into Walmart e-commerce stores. According to the fake press release, the company was going to allow its “millions of shoppers” to leverage crypto payments with LTC. The fake Litecoin integration was […]