in this post, we see how the dash scam evolves with most of the exchange volume being blatantly wash traded and fake.this is the cmc market tab for dash: http://bit.ly/2s6aWk3 the pairs which even cmc identifies as scam/wash-traded (the ones which have *), the rest of them are all exchanges that are unheard of.Exrates$15mZB.COM$9.5mLBANKDASH/USDT$9.11mP2PB2BDASH/ETH$4.9mBitForex$3.9mYoBit$3.6mnow there was a study done recently by the blockchain transparency institute:original study : http://bit.ly/2LLf6H7 http://bit.ly/2s5vVU4 http://bit.ly/2LNNilw go through the study and the lists, and you will find that each of the top exchanges where dash has volume is specifically called out for wash trading and fudging volume stats.The largest offenders in the top 10 include ZB exchange which appears to be wash trading their volume to over 390x as well as Lbank to over a whopping 4400x.ZB.com is accused of showing 390x fake volume;Lbank accused of showin 4400x fake volume.Exrates is accused of having 96% fake volume (see "report" linked above)you can also just google most of those exchange names to see what kind of scams they are.considering on chain transactions, dash is among the least used blockchains, even though it has been around for years now from 2014 when it was instamined, and the scam has been ongoing since then.dash has a ponzi like structure where 10% of the block rewards go back to the developers, who then use that to pay for these shady exchange scam volume, to create an illusion of legitimacy, which in turns brings in new users who by seeing the volume think it is legit.always check actual blockchain usage, not exchange volume stats that are highly manipulated in this market.http://bit.ly/2s5dwXt, dash has fewer than 7500 transactions on an average. that puts it below bch, below litecoin, below dogecoin and ethereum classic in terms of actual usage. you can compare actual usage on blocktivityevidently, it is hardly adopted anywhere with such abysmal usage.yet dash pretends to have massive exchange volume, most of which is fake.its proving to be a rewarding tactic for scam coin promoters to fudge exchange volume so that people who are not aware of these things end up buying these worthless scam coins.some of the clues in spotting such scams include large volume on exchanges that does not add up with actual usage of the blockchain, huge percentage of mining rewards going back to the founders (the blockchain ponzi scheme).unless the market purges itself of such scams, its hard to gain any kind of legitimacy as an asset class.
Submitted January 03, 2019 at 05:34AM
No comments:
Post a Comment