Submission + - More Than Half Of All Bitcoin Trades Are Fake (forbes.com)
rrconan writes: From the "we already knew" department, Forbes is reporting that ore than half of all reported trading volume is likely to be fake or non-economic. Forbes estimates the global daily bitcoin volume for the industry was $128 billion on June 14. That is 51% less than the $262 billion one would get by taking the sum of self-reported volume from multiple sources.
There is no universally accepted method of calculating bitcoin daily volume, even among the industry’s most reputable research firms. For instance, as of this writing, CoinMarketCap puts the latest 24-hour trading of bitcoin at $32 billion, CoinGecko at $27 billion, Nomics at $57 billion and Messari at $5 billion.
There is no universally accepted method of calculating bitcoin daily volume, even among the industry’s most reputable research firms. For instance, as of this writing, CoinMarketCap puts the latest 24-hour trading of bitcoin at $32 billion, CoinGecko at $27 billion, Nomics at $57 billion and Messari at $5 billion.
