Why does everyone think negatively about coinsbit?
In addition to obviously faking their trading volume, they have a flood of complaints from users about being locked out of their accounts. Here is an example:
https://bitcointalk.org/index.php?topic=5183338.0They also have a shady "investbox" program that encourages users to buy & hold tokens for ICOs that either have very little information about them or else are outright scams. In addition, they continue to list a lot of fraudulent projects.
KEP immediately comes to mind.
As far as the fake volume is concerned, just look at these
rankings on CMC for 24-hour volume:
by reported volume: #6
by adjusted volume: #4
by liquidity: not in the top 50
What does this mean?
The Liquidity metric by CoinMarketCap is designed to eventually replace volume as the default metric when ranking market pairs and exchanges...
Liquidity refers to the ease of being able to trade in and out of an asset, or in this case cryptocurrencies.
The Liquidity metric by CoinMarketCap takes into account a wider range of key variables from the order book, such as the distance of the order from the mid-price, the size of the order and the relative liquidity of the asset in question...
The adaptive methodology will make the Liquidity metric very difficult to game as orders would need to be placed close to the mid-price, or risk being counter-productive to the Liquidity metric scoring.
Basically, Coinsbit is manipulating the shit out of their volume. If they are being dishonest about this, dishonest about why they are locking users out of their accounts, and listing tokens that are proven scams, it makes you wonder what else they are being dishonest about...