Steem.Supply Update: Reverting Back To Bittrex, As Coinmarketcap Is Re-enabling HitBTC Prices
This HitBTC SBD pump is becoming annoying. Coinmarketcap re-enabled their listing, although the price on HitBTC is more than 13 times higher than on any other exchange. So I'm reverting back to the patch announced a couple of days ago, pulling the SBD price from Bittrex API directly and I will keep it like this at least one week, or until HitBTC stops playing game.
I also temporarily disabled the SBD / STEEM historical price chart, as it is obviously it's getting really screwed.
If you don't know what this is about, a week ago HitBTC started to manipulate the market, by generating an abnormally high price for SBD, but with both wallets, SBD and STEEM, offline. In other words, it's just around 1000 SBD which are already in that wallet and which are gamed all day long, in order to manipulate the market price.
Stay - and trade - safe!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Thanks @dragosroua for updating. when first i saw the price of SBD pumping i am really very excited but soon my friend told me the whole story. it is really very annoying scenario and making FUD here as well as manipulating market price for playing game with innocence peoples as their wallets offline. i hope some action should be ntaken against them,..
It makes no sense that they added HitBTC to the average again, after it was gone for being too far away from the other exchanges. I wonder why they would re-enable it..
me too... Either their algorithm for detecting outliers is screwed, or...
It suddenly jumps from 1.71 to 4.03, Coin market cap have to do something against it.
They had actually removed it from the average yesterday, but for some strange reason re-enabled it again this morning.
They have excluded it again. Check it now.
Oh, that's good news!
I dont understand why they would be pumping up the and yet stop buying or selling.. sounds fishy
Because other exchanges might follow, especially if the price on coinmarketcap follows the price that's on the pumping exchange. This way they will earn a lot of money.
I guess that answers this question and the answer is "no". Thanks for the explanation.
Still i don't understand the need of what is the need of this manipulation by HitBTc. Although we all wish that SBD price will go high. Let's hope for the best. There should be some action against the HitBTCH to show the false value of SBD.
This is extremely frustrating and misleading. They should not include the HitBTC price since it is such an outlier!!
That is the best decision you took.
Just a Question:-
By manipulating the price what they are getting. Just to gain attention of public or something else ?
I have no idea, but one scenario could be to create FOMO for SBD, so people will buy hyperinflated SBD at unreasonable prices.
You did good to integrate steem.supply to bittrex.