Who can do wash or fake trading in ViteX?



    1. Who can do wash trading in ViteX? (to buy or sell your own orders)
      If nobody, what mechanisms prevent it?

    2. Who can do fake trading in ViteX? (create trades shown in Last Orders, but actually have not happened)
      If nobody, what mechanisms prevent it?


  • Reward

    @vroder yes it can and might happen - just stake 10.000 Vite to become VIP and then another 1.000.000 VIte for SVIP so you have no transaction costs...

    But that is not what is going on right now.. the big fish are paying transaction costs on it because they are using to generate VX (just check out at end of the day the transaction cost to generate 1 vx over the different pairs)

    So yeah it (can) happen(s) but the mechanism to counter it are - in first scenario => no transaction costs, no mining reward | in last scenario => transaction costs are distributed to all vx stakers so that the more washing (with transaction costs) happens the more vx holders benefit.



  • @Michi thank you! This means SVIPs do not trade mine VX, correct?

    My second question was whether is it possible that the orders we see in "Last Orders" for any pair, can be fake, meaning we see them, but they never actually happened?


  • Reward

    @vroder no problem! Correct, no transaction costs means no mining.

    Second question, I do not know the awnser on that - hope someone can awnser this (and I am very curious myself - because this crossed my mind as well)



  • and few more final questions:

    1. Does the The 24 volume for a pair include wash trading?
    2. Where can we see the volume without wash trading?
    3. Can we filter out washed trades from the "Last Orders"?


  • I will not invest into ViteX, don't want to support a wash trading and fake volume exchange.


  • Reward

    @vroder

    I understand and you might be right.

    But consider that coinmarketcap Volume Ranking has such an important Value as it an exchange is trustworthy. People will look for trustworthy exchanges and leave out the rest.

    All Good So far - but this also motivates (all) exchanges to manipulate this (not just vitex) to signal more trustworthiness.

    Not using ViteX for wash trading is like blaming Lance Armstrong for his EPO usage - sure you are right - but are the alternatives clean?

    To date - I benefited from ViteX and their dividend distribution - furthermore the concept is strong. Only would like to see more active usage of the discussion board.

    Anyway, best of luck to you!


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