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Bitcoin(dot)com Crypto Exchange Posts Dishonest Volumes

The Bitcoin(dot)com crypto exchange seems to be fibbing its real volumes. The market operator uses the Multiexchange.com service, thus sharing order books with several major markets.

In a tweet, Dan Hedl mentioned that Bitcoin(dot)com merged its orders with Bequant and HitBTC, thus presenting relatively high activity.

Order Books Merged Data from Other Exchanges

The merged order books are one of the ways that exchanges fail to report real-world trading activity. In the past year, new exchanges showed up with immense trading volumes, which were most probably generated by bots. Previous research has shown that faked activity is significant in some markets, making up as much as 90% of all trading. CoinMarketCap has therefore set out on a mission to make exchanges report realistic volumes and reveal order books.

The Bitcoin(dot)com exchange is a new arrival on the crypto scene, launching less than a week ago. The market completes the profile of the Bitcoin(dot)com brand, which also hosts a mining pool and a crypto wallet.

The exchange is also planning to launch a futures market and has opened a procedure with the US Commodities Futures Trading Commission (CFTC).

Bitcoin.com Pushes Bitcoin Cash Forward

The Bitcoin.com brand has received something of a bad rap within the crypto space. The site and its wallets were launched by crypto evangelist Roger Ver. Known as the “Bitcoin Jesus”, Roger Ver then switched teams and started supporting BCH. He was accused of misleading behavior, for securing the Bitcoin.com brand and subtly switching the places of assets within the wallet.

The Bitcoin.com mining pool mines on both the BTC and BCH blockchains. But on the BTC network, the pool only discovers 0.69% of blocks. On the BCH network, the firm discovers between 6 and 8% of all blocks.

At this point, it’s unknown what effect trading on the newly launched exchange will have. It is not yet listed among other markets, and there are no clear statistics. With time, volumes may pick up.

The launch of the Bitcoin.com exchange, for now, fails to lift the market price of BCH. The coin performs with relative stability, trading at around $306.92. BCH is still unable to recover the $400 level from before November 2018, when the asset split and produced Bitcoin SV, another competing network.

What do you think about the Bitcoin.com exchange? Share your thoughts in the comments section below!

Images via Bitcoinist Image Library, Twitter: @danhedl, @BitcoinComExch

The Rundown

Pro 18

Roger Ver: I Made Andreas Antonopoulos A Millionaire

· December 18, 2017 · 3:30 am

Bitcoin.com owner Roger Ver has once again come under fire from his own alleged supporters on social media after making contentious statements.

‘I Suspect Andreas Is Pretty Happy’

Just weeks after Ver called Bitcoin (BTC) a “cripple coin” as its price hit $10,000, further comments on the r/btc subreddit, this time pertaining to Andreas Antonopoulos, have had a more marked impact.

In a previous Twitter exchange, Ver had appeared to criticize the Bitcoin evangelist for not being a so-called ‘Bitcoin millionaire.’

Bitcoin holders rallied to his support, sending Antonopoulos almost $1 million in under 24 hours, a figure which has since grown higher.

In a response to an unrelated issue about the Bitcoin.com wallet Monday, Ver continued the narrative, suggesting Antonopoulos “would be happy” with his Twitter activity due to the fact that he was now technically a millionaire himself.

“I made Andreas a millionaire. I suspect he is pretty happy with my tweet,” he wrote.

Bitcoin.com Wallet ‘Astroturfed’ to 2/5 Rating

The comment attracted widespread rebuke from Reddit contributors, the second such time that notionally pro-Bitcoin.com communities have gone against Ver for his attitudes. As of press time, the response had attracted a score of -315 points.

The most popular rebuttal is of a personal tone, a user describing Ver as “a loser with no class” and a “shitty self-absorbed sociopath.”

The episode compounds the contentious nature of the man formerly known as ‘Bitcoin Jesus’ as the Bitcoin.com wallet takes a beating in ratings on Apple’s App Store.

Achieving a rating of 2 out of 5 and a flood of negative reviews, another Reddit user had called for r/btc members to “come together” and give “honest” ratings to address what they suspected as ‘astroturfing.’

Subreddit members turned against that appeal too, however, with the entity who donated 37 BTC ($701,000) to Antonopoulos calling for a boycott of the plan.

Bitcoin.com’s wallet supports Bitcoin Cash and Bitcoin, with the portal receiving scorn from Bitcoin supporters following Ver’s announcement its focus would be on the hard fork rather than ‘true’ Bitcoin itself earlier this year.

What do you think about Roger Ver’s latest comments? Let us know in the comments section below!

Images courtesy of Youtube