About 90% of PeerPlay’s daily volume is bot manipulated fake volume!

Peerplays (PPY) recently caught my attention as it was high volume on the BitShares market. I spent a few minutes investigating and think I am going to pass on this cryptocurrency.

As I looked at the security, it seems like all the market volume is made up of bots with the purpose of volume inflation.

First let’s start off with a mandatory Coin Market Cap chart.

This coin trading has a market cap of 16 million is trading at $4.22 each and has been on a downtrend sense summer.

I really don’t know much about the coin, nor do I feel like I need to, but just to cover the bases, this is a blockchain peer-to-peer betting platform.

Do you have an experience with it? Please share.

So according to market cap this coin has volume of $137,000. I downloaded a couple of days of data and crunched the numbers and try on these for datapoints.

Of the 680 trades I looked at there were only 51 buyers and sellers.

The 12 bots accounted for 90% of the transactions.
Of these If you exclude all people who bought or sold more than 10 times during this three day period, 39 of these people were real the other 12 were bots.

About 87% of the volume was done by bots.
By value the bots counted for $181,000 of volume verses $27,000 for the people volume. That is bots trading with bots to artificially inflate the volume.

I am still discovering lots of things in the crypto currency space. Apparently running bots, is fairly common, but is it common knowledge or false advertising?

As a society we put paint on houses. This paint makes it look good and actually serves to protect the wood on houses. We all know there is paint.

As a society, we seem to run bots to artificially inflate alt coin numbers. Do we as a society know this is happening? Should it happen?

I find this troubling, but wanted to disclose it.
When you sell a house it is not right to just paint over and purposefully hide problems. Problems should be properly disclosed. The new home owner can then monitor the problem and take action as needed. If you fail to disclose a problem you knew about, the new homeowner can sue for misrepresenting the facts.

To me this type of fake volume is the result of a scam or fraud and does not represent real interest or real people.

I don’t think most people realize how inflated volume numbers can be on cryptocurrencies. What are your thoughts?