Author Topic: MXC Exchange will list BTS/抹茶交易所拟上线BTS  (Read 3350 times)

0 Members and 1 Guest are viewing this topic.

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4211
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #15 on: February 09, 2020, 06:48:46 pm »
Based on my research i'm not going to support it.

There are many red flags like domain was for sale 2 years ago.
https://flippa.com/9365713-mxc-io
Mainly wash trading and no real liquidity
Alexa showing that this website had just a month ago a rank under 900k which is very very bad.Right BTC had already 450k and we all know what bitshares is getting from rightbtc .

In my honest opinion this exchange brings completly no value to bitshares and thats why i won't vote for it.
To be fair, this exchanges does bring some value, since MXC does have some users and is a bit well-known in China, much better than rightbtc.

To compare, there was another similar worker in 2017 to support a contest on Lbank. Nobody traded BTS during most time of the contest, but in the last hours there occurred a wash-trading with 400M or so volume and the money was taken, no follow-up report. Easy money.

By the way, cn-vote has no weight in the authorities of the worker account, I wonder what they can do with the worker funds.

150K BTS each day is also a bit crazy.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline litepresence

Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #16 on: February 09, 2020, 07:00:35 pm »
should be noted this is a shitcoin exchange

it is not listed in the coinmarketcap legitmate liquidity rankings here:

https://coinmarketcap.com/rankings/exchanges/liquidity/

not in hacken.io top 100 cyber security ranking; lowest rank is 4.3/10

https://hacken.io/research/researches-and-investigations/top-100-crypto-exchanges-according-to-the-cer-cyber-security-score-css/

ranked 129 in coingecko w/ trust level 3/10

https://www.coingecko.com/en/exchanges?page=2

D trust rating at comaps

https://www.comaps.io/exchange/mxc

Their reported daily volume is 1.8 BILLION USD.  Comaps says real volume is only 6 MILLION USD.

also its being promoted in telegram with this image



which is a clone of the coingecko rankings with the sole exception of MXC being magically ranked 10th instead of 129th.
« Last Edit: February 09, 2020, 07:08:21 pm by litepresence »

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4211
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #17 on: February 09, 2020, 07:36:02 pm »
Biased info is less valuable.

A fact is, foreign people usually don't know Chinese market or business.

When people saying you have a poor Alexa rank, they don't know Alexa toolbar/plugin doesn't have a good market share in Chinese, so its rank is not that reliable. Comparison between 2 websites in China make some sense though.

An average Chinese traders may don't know coingecko, but may use feixiaohao.com daily.

Average Chinese people don't use Google, Facebook, Twitter, they have Baidu, Wechat, Weibo.

Etc.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline Thul3

  • Sr. Member
  • ****
  • Posts: 425
    • View Profile
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #18 on: February 09, 2020, 07:56:20 pm »
Biased info is less valuable.

A fact is, foreign people usually don't know Chinese market or business.

When people saying you have a poor Alexa rank, they don't know Alexa toolbar/plugin doesn't have a good market share in Chinese, so its rank is not that reliable. Comparison between 2 websites in China make some sense though.

An average Chinese traders may don't know coingecko, but may use feixiaohao.com daily.

Average Chinese people don't use Google, Facebook, Twitter, they have Baidu, Wechat, Weibo.

Etc.


Based on feixiaohao.com mxc can be compared to biki.
How much real volume has biki for bitshares ?
Something arround zero ?


On a side note has anybody seen the liquidity of bitcny on biki for which we paid a nice amount of money ?
https://www.biki.com/en_US/trade/BITCNY_USDT

Spending $20k for something like that ?

@abit mxc is more known than rightbtc because rightbtc wasn't created for chinese trader but from middle east.

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4211
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #19 on: February 09, 2020, 08:05:27 pm »
Biki is well-known too. I agree it's another shit exchange though. Let's blame Jademont for getting rewarded for that, as well as the people who decided to reward him.

IMHO our marketing activities around centralized exchanges should be well organized. Being listed is only the first step. Ideally more actions are required after that. I'm not an expert though.

As I've said, worst case, we're paying some money for promotion. Hard for me to tell whether it worth doing.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline litepresence

Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #20 on: February 09, 2020, 09:42:28 pm »
Biased info is less valuable.

You have 4 institutions in the cryptospace who's claim to fame is the fact that they audit exchange volume... they do this for all exchanges globally... American, Chinese, Russian and all in between.  Its not a matter of racism against chinese companies, its a matter of quantifying raw data.

nomics, comaps, coingecko, and coinmarketcap's liquidity rankings are all in alignment for the most part on the true volume reported by top global exchanges.  Some of these are Chinese, some are US, some otherwise.   MXC is not among the top contenders by a long shot. 

mxc is not in the top 120 at nomics trust ranking
mxc is not in the top 120 at comaps trust ranking
mxc is not in the top 50 at coinmarketcap's liquidity; the bottom of which is less than 200k daily volume
mxc is not in the top 100 at coingecko's trust ranking
mxc is not even considered at hacken.io cyber security ranking

how many independent un-associated auditors does it take to make it clear that fake is fake?

if we're going expend resources on getting listed at exchanges we should be focusing on exchanges who's orderbooks have been AUDITED by sites who's stated purpose is to audit.

We should not be looking at rankings based on "internally reported volume" nor rankings based on "pay to be listed in rankings".

focus on the sites that matter... the one's with real volume:

binance, bittrex, bitfinex, poloniex, kraken, huobi, upbit, hitbtc, coinbase, bitflyer, bithumb, okex, bitstamp, gate.io, kucoin, bitmex, gemini

these, maybe a few others are the only sites matter ^

Almost every other exchange in cryptospace are various shades of bullshit.

All these other bottom tier junk exchanges are just a waste of resources.  They encourage BTS holders to involve themselves with shady institutions.  These shady exchanges ultimately turn out to be scams or go broke, get hacked, and leave BTS holders with nothing to show for their investments.

Under no circumstances should community worker funding go towards exchange listing at an exchange that is not in the top 40 at nomics, coingecko, comaps, and coinmarketcap liquidity rankings.
« Last Edit: February 09, 2020, 09:47:08 pm by litepresence »

Offline litepresence

Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #21 on: February 09, 2020, 10:30:15 pm »
每次出现重大价格变动:
在实际交易中,这会导致音量峰值。

让我们来看看:

Binance音量vs MCX音量

2019年中

真实音量
Binance BTC:USDT
绿色排行榜


假货量
MCX BTC:USDT
底部图表为红色


为什么在MCX的价格变动期间没有交易量激增?

欺诈!


Each time there is a major price movement,
at a REAL exchange... this results in a volume spike.

Lets take a look at Binance Volume vs MCX volume mid 2019

REAL VOLUME
Binance BTC:USDT  top in green


FAKE VOLUME
MCX BTC:USDT bottom in red




also, note the 20 day period in the middle, with nil volume, when their fake-volume wash-trading machine was apparently malfunctioning


I'm not an expert though.

I'm not an expert on coding blockchains, deciphering C++, or even properly versioning my github; there I humbly yield to individuals like yourself.   

When it comes to trading crypto on centralized exchanges however, I do consider myself very well versed... I've been here since mtgox days; I've had my money on dozens of different exchanges since then.  I've learned the hard way by personally losing 10's of thousands of dollars many times over due to various instances of exchange implosion, theft, and scam.  Before then, I had been trading for at least a decade in regulated stock and forex markets.  I also have an educational background in finance and mathematics.  I know price charts very well.

What I see in the image above, and what I hope my purple dots make clear to all others, is most certainly FRAUD.

我在上图中看到的并希望我的紫色圆点清晰可见的,无疑是欺诈。
« Last Edit: February 09, 2020, 11:40:22 pm by litepresence »

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4211
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #22 on: February 10, 2020, 01:36:13 am »
I've stated in my first reply of this thread that MXC's volume is very fake.

Yes, we know it.

So what?

Since it's not a perfect exchange, we refuse to be listed? Send out lawyers to ask them to stop working on listing BTS?

To be clear, they didn't ask for money to list BTS.

The worker is a joint community effort to promote BitShares to users of that exchange, to let them know us. Although it's not a top exchange, it does have lots of users, especially in China, a small percentage of the population is a lot of people, much more than total population of some countries.

That being said, I don't know how much money is the best for such promotion. I'm not an expert in this. But it doesn't mean it worth nothing. Anyone who have experience please voice.

The total cost of this worker is somewhat affordable. 600K BTS is peanuts in comparison to the huge workers appeared in recent years. We spend 900K every month for block production. Even for the MM contest we've already spent 3M BTS.

IMO anyone working for the platform is good news for us. If you want the top exchanges to list us, please work towards it.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline Thul3

  • Sr. Member
  • ****
  • Posts: 425
    • View Profile
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #23 on: February 10, 2020, 07:38:09 am »
Lot's of users which don't even bring liquidity to their main pairs ?

The result will be the same as biki


Spending $20k for mirrored offers which has no real volume.


What real daily volume do you expect to achieve on mxc for bitshares that would justify to spend $20k on promotion ?

A cost use Bill

Quote
As I've said, worst case, we're paying some money for promotion. Hard for me to tell whether it worth doing.

Worst case you are spending $20k to promote not our exchange.
« Last Edit: February 10, 2020, 10:14:54 am by Thul3 »

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 4211
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #24 on: February 10, 2020, 01:07:55 pm »
Lot's of users which don't even bring liquidity to their main pairs ?

The result will be the same as biki


Spending $20k for mirrored offers which has no real volume.


What real daily volume do you expect to achieve on mxc for bitshares that would justify to spend $20k on promotion ?

A cost use Bill

Quote
As I've said, worst case, we're paying some money for promotion. Hard for me to tell whether it worth doing.

Worst case you are spending $20k to promote not our exchange.
Are there any other offers right now? Doing something is better than doing nothing.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline Thul3

  • Sr. Member
  • ****
  • Posts: 425
    • View Profile
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #25 on: February 10, 2020, 01:32:31 pm »
Lot's of users which don't even bring liquidity to their main pairs ?

The result will be the same as biki


Spending $20k for mirrored offers which has no real volume.


What real daily volume do you expect to achieve on mxc for bitshares that would justify to spend $20k on promotion ?

A cost use Bill

Quote
As I've said, worst case, we're paying some money for promotion. Hard for me to tell whether it worth doing.

Worst case you are spending $20k to promote not our exchange.
Are there any other offers right now? Doing something is better than doing nothing.

That's a crap answer and a farce for everyone who voted for refund400k  or which worker have been closed because of refund400k.

What was the main argument ?Being ineffective ?

« Last Edit: February 10, 2020, 01:47:56 pm by Thul3 »


Offline clockwork

  • Committee member
  • Sr. Member
  • *
  • Posts: 376
    • View Profile
  • BitShares: clockwork
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #27 on: February 10, 2020, 02:02:34 pm »
Lot's of users which don't even bring liquidity to their main pairs ?

The result will be the same as biki


Spending $20k for mirrored offers which has no real volume.


What real daily volume do you expect to achieve on mxc for bitshares that would justify to spend $20k on promotion ?

A cost use Bill

Quote
As I've said, worst case, we're paying some money for promotion. Hard for me to tell whether it worth doing.

Worst case you are spending $20k to promote not our exchange.
Are there any other offers right now? Doing something is better than doing nothing.

That's a crap answer and a farce for everyone who voted for refund400k  or which worker have been closed because of refund400k.

What was the main argument ?Being ineffective ?

Despite disagreements, appreciate your integrity.

Offline bench

Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #28 on: February 10, 2020, 03:16:05 pm »
Are there any other offers right now? Doing something is better than doing nothing.
Funding our developers and exchange, instead of getting listed on yet another shitty exchange!

https://mxc-exchange.zendesk.com/hc/en-001/articles/360039230372
Good point!
Be part of the change and vote for the bitshares-vision proxy!

Offline fav

  • Administrator
  • Hero Member
  • *****
  • Posts: 4275
  • No Pain, No Gain
    • View Profile
    • Follow Me!
  • BitShares: fav
Re: MXC Exchange will list BTS/抹茶交易所拟上线BTS
« Reply #29 on: February 10, 2020, 04:01:24 pm »
Biased info is less valuable.

You have 4 institutions in the cryptospace who's claim to fame is the fact that they audit exchange volume... they do this for all exchanges globally... American, Chinese, Russian and all in between.  Its not a matter of racism against chinese companies, its a matter of quantifying raw data.

nomics, comaps, coingecko, and coinmarketcap's liquidity rankings are all in alignment for the most part on the true volume reported by top global exchanges.  Some of these are Chinese, some are US, some otherwise.   MXC is not among the top contenders by a long shot. 

mxc is not in the top 120 at nomics trust ranking
mxc is not in the top 120 at comaps trust ranking
mxc is not in the top 50 at coinmarketcap's liquidity; the bottom of which is less than 200k daily volume
mxc is not in the top 100 at coingecko's trust ranking
mxc is not even considered at hacken.io cyber security ranking

how many independent un-associated auditors does it take to make it clear that fake is fake?

if we're going expend resources on getting listed at exchanges we should be focusing on exchanges who's orderbooks have been AUDITED by sites who's stated purpose is to audit.

We should not be looking at rankings based on "internally reported volume" nor rankings based on "pay to be listed in rankings".

focus on the sites that matter... the one's with real volume:

binance, bittrex, bitfinex, poloniex, kraken, huobi, upbit, hitbtc, coinbase, bitflyer, bithumb, okex, bitstamp, gate.io, kucoin, bitmex, gemini

these, maybe a few others are the only sites matter ^

Almost every other exchange in cryptospace are various shades of bullshit.

All these other bottom tier junk exchanges are just a waste of resources.  They encourage BTS holders to involve themselves with shady institutions.  These shady exchanges ultimately turn out to be scams or go broke, get hacked, and leave BTS holders with nothing to show for their investments.

Under no circumstances should community worker funding go towards exchange listing at an exchange that is not in the top 40 at nomics, coingecko, comaps, and coinmarketcap liquidity rankings.

fully agree. I think the money will only be used to wash trade BTS and it will probably land in the wallet of OP and this garbage exchange. This is another piggybank attempt