Dear @reverseacid
Yet another excellent publicaion buddy. A bit to old to upvote. :( Sorry about that.
I realized lately that some people think that decentralized exchanges will solve problem of fake volumes. What's your take on it? I myself seriously doubt that anything would be really very different.
gave a presentation to the SEC where they showed the officials how crypto volume is manipulated.
I was close to a friend who was hired (developer) by some ICO and he told me that one of their marketing ideas to "build trust" is to manipulate with volumes on exchanges. So investors would believe that there is some liquidity (which didnt really exist).
How sick is that? And how short-term thinking.
How can we advocate transparency when our markets aren’t transparent?
Well. Is WallStreet very transparent? I think transparency need to have some limits if we don't want to scare away most of investors. Transparency brings so many dangers.
Again, great read buddy. enjoy upcoming week :) ps. do you hate mondays as many people do? or you dont care? just wondering.
Yours
Piotr
Haha @crypto.piotr
No issues on the upvotes, just glad you enjoyed the article.
It is a crude tactic indeed but it is an age old tactic even in Wall Street. Morgan Stanley recently created synthetic shorts for Lyft after its IPO so institutions can bet on it going down. This was what everyone was expecting. Same way, insiders give falsified data on stocks to induce higher volume and price growth.
DEx's will solve this particular issue of exchanges faking volume. In terms of token issuers manipulating volume, DEx's will not do anything.
Wall Street is not transparent, but the point of crypto is to be transparent. That's where my ideals for this article stem from.
Everyone hates Mondays, my friend. I wouldn't trust a person who doesn't :D just kidding!
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Awesome comment @reverseacid
Thank you for taking the time to reply. Appreciate it a lot.
Cheers
Piotr