Post
Topic
Board Exchanges
Re: BTER.com hacked| 7170 BTC stolen | DON'T KEEP YOUR MONEY ON AN EXCHANGE |
by
deisik
on 15/01/2017, 20:46:15 UTC
I tried trading there a few months ago (you can read my experiences in full here). I had been trading doges before and right after the hack, and what I saw last time can't be called trading by any means. The order-books are literally frozen, and I don't think that with other coins it is substantially different (I looked at a few other coins as well). Some trading volume may be coming from the BTY-CNY section (if they are allowed to trade fiat at all), but I didn't check that. At any rate, they are nowhere near 300 BTC of daily trading volume

I didn't know that their trading volume can be manipulated

You can easily check it through a bot

Personally, I drew such a conclusion looking at the order-books which are scarcely moving, I'd been trading, or rather trying to trade there for a few hours (dogecoins specifically), and I saw only a few small trades. But they have a pretty decent and thought out api (in fact, the only exchange employing asynchronous api among those which I tested myself) which allows to track trades in real time (apart from many other things), so if you are really interested in finding this out, you could write a simple bot which would count the exact value of trading volume at Bter

No, I'm not familiar with bots and if you have any I would be happy to experiment with it and see also other exchanges.
Since you have made this test, what is the difference from the real trading daily volume?

No, I didn't run this test. As I said, I just looked at their order-books of major coins (doges, lites, nxt, maybe a few others) and arrived at a conclusion that their reported trading volumes are mostly bogus. In any case, I don't trade there any more, so I'm not really interested in finding out whether my assumption is true or not. It is simply impossible to trade there in any meaningful way, that's all...

So this exchange is pretty much done with