I’m surprised by the popularity by Nic’s post on the “dark underbelly of cryptocurrency markets” b/c he is highlighting 2 keys issues internet not the cryptocurrency space:
1 - Knowing what you are buying.
2 - Knowing what you are buying is true.
Thread 👇 https://t.co/qTbn2vvhaQ
What is the business model of the coin rankings sites?
"Many if not most exchanges have affiliate schemes, and referral links (“reflinks”) can be a lucrative source of revenue if you are the intermediary between active traders and exchanges."
Great post from Nic re the unregulated exchanges, alt-coin dev, and coin rankings sites, and their symbiotic relationship to fleece retail investors.
(Notice @onchainfx was not mentioned in this article. :)) https://t.co/6tM07R8PDh
#33kByJuly3018Moku //not_giving_away_ETH\\ - @CarpeNoctom2 months ago
This coin has been listed on @CoinMarketDaddy (CMD). For all the trading information, total Supply, current price, 1 hour change, 24 hour change, 7 days change, historical data , graph, calculator, convertor, reviews, statistics, and comments check out CMD twitter page @CoinMarketDaddy (CMD) and visit
An interesting exposé, well-researched, well-written
It would be even better with some specific numbers
What are the earnings from banners and referrals?
The article mentions paying Binance hundreds of thousands to list a new coin. Is this common? How much is the windfall benefit of paying this fee?
The reference to online poker fraud implies a corrupt relationship which includes insider information. The rest of the article describes a three-way co-dependence between altcoin exchanges, altcoin creators, and coin ranking sites, but does not mention inside information as an aspect of these corrupt relationships