Author

Topic: Bitcoin to China (Read 878 times)

sr. member
Activity: 910
Merit: 302
March 05, 2014, 02:26:48 AM
#10
Do people still not really understand that fiatleak does not show net flow, only trades?
The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious?

good point
and the fees there are much lower
legendary
Activity: 2674
Merit: 3000
Terminated.
March 04, 2014, 04:21:36 PM
#9
Do people still not really understand that fiatleak does not show net flow, only trades?
The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious?
While no trades happen in Europe for hours?
sr. member
Activity: 469
Merit: 253
March 04, 2014, 02:39:25 PM
#8
Do people still not really understand that fiatleak does not show net flow, only trades?
The Chinese could be trading the same 1000 bitcoins back and forth endlessly. Isn't this obvious?
hero member
Activity: 574
Merit: 500
March 04, 2014, 02:04:58 PM
#7
Lies, Damned Lies and BTC Statistics, even with a transparent blockchain, like Mt Gox if you don't interpret the data correctly, it's worthless.
I think fiatleak.com is broken. (Though I noticed Max Keiser mentioned the China flows on it also!).
legendary
Activity: 4424
Merit: 4794
March 04, 2014, 02:00:10 PM
#6
they cannot tell where coins are moving. the blockchain is only showing the closest node that RELAYED the transaction to a miner.

so lets say 98% of miners and supernodes were chinese based. it does not mean 98% of coins are going to recipients that phsically live in china and are buying chinese products or services
sr. member
Activity: 910
Merit: 302
March 04, 2014, 01:30:06 PM
#5
http://bitcoinity.org/markets/list?currency=ALL&span=24h


71% of the trade volume is in China now
if this data can be trusted

some exchanges might be fixing their stats

I suppose the site you posted, uses the same kind of data for their animations
legendary
Activity: 1512
Merit: 1012
March 04, 2014, 12:28:26 PM
#4
heavy user (and buyer/seller) are EUROPE, RUSSIA and CHINA : https://blockchain.info/fr/nodes-globe?series=onlineNow

second place : australia and USA.
legendary
Activity: 2674
Merit: 3000
Terminated.
March 04, 2014, 12:15:26 PM
#3
Chinese are buying heavier than others?

or

The site is wrong?
I'm starting to think that the site is wrong. Almost nothing is going to Europe, some to the USA. It's mostly China only.
hero member
Activity: 546
Merit: 500
March 04, 2014, 09:55:53 AM
#2
Chinese are buying heavier than others?

or

The site is wrong?
hero member
Activity: 574
Merit: 500
March 04, 2014, 09:42:29 AM
#1
Does anyone have any insite as to why fiatleak.com show's nearly all bitcoins going to China at the moment? Last twelve hours or so 70,000 BTC to China only 800 USA and Zero UK?Huh
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