btc china fake volumes - page 3. | Bitcointalksearch.org

shinratensei_

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Quote from: ebliever on January 11, 2017, 02:33:00 PM

Anyone who looks at the volumes on Coinmarketcap (click on Bitcoin, then the Markets tab) can see the Chinese volume claims are ludicrous. Often they report a higher _daily_ volume than the number of bitcoins in existence.

This? Nope, but I think there is no the ridiculous thing from there. The total market capitalization is same. can you bring me into the ludicrous thing?
http://coinmarketcap.com/currencies/bitcoin/#markets

Code:

79	OKCoin.cn	BTC/CNY *	$2,957,260,000	$756.16	0.00%	Recently
80	BTCC	BTC/CNY *	$1,744,090,000	$754.64	0.00%	Recently
81	Huobi	BTC/CNY *	$1,569,640,000	$758.38	0.00%	Recently

NorrisK

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Quote from: kassadin5 on January 11, 2017, 03:07:48 PM

i was looking at the volume among the exchanges for the first time in a long time and it seemed preposterous, literally a week later this happens.. how can this affect the market long term? outside of this sudden sell-shock, what could be the consequences for the western exchanges and their relative price?

How this affects the price? Just take a look at what happened in the last few years.

It is not like this is something new.. it's been going on since the Chinese exchanges have been around..

kassadin5

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Quote from: iTradeChips on January 11, 2017, 03:18:37 PM

Quote from: alyssa85 on January 11, 2017, 02:58:23 PM

There arn't any fees on the chinese exchanges, so coins can be sold back and forth endlessly to paint the tape.

i didnt hear about this since a few days ago. why would they not charge fees? how would these exchanges make money? i would love to trade there lol

lets presume you're asking a bank for a loan

what looks better, having 1 000 000 BTC traffic or 56 978 252 BTC like OKCoin claims they had in the past 30 days?

and once somebody figures out, and alerts the authorities, and they make a raid, looking for proof of payments..
and let's presume you're a Chinese miner just heard about it, have about 100-200 BTC
you start fearing tomorrow they will be closed and not operating.. guess what do you do..
hence the price drop, i believe at least..

digaran

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Quote from: iTradeChips on January 11, 2017, 03:18:37 PM

Quote from: alyssa85 on January 11, 2017, 02:58:23 PM

There arn't any fees on the chinese exchanges, so coins can be sold back and forth endlessly to paint the tape.

i didnt hear about this since a few days ago. why would they not charge fees? how would these exchanges make money? i would love to trade there lol

I believe they are doing this in order to attract more and more traders and as much money as they can to run away when the funds are considerably worth the hassle

. I wouldn't trust a satoshi to non well established exchanges and only trust small amounts with the legit services.
Any exchange site can fake their volumes as they are already doing so anyways.

iTradeChips

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Quote from: alyssa85 on January 11, 2017, 02:58:23 PM

There arn't any fees on the chinese exchanges, so coins can be sold back and forth endlessly to paint the tape.

i didnt hear about this since a few days ago. why would they not charge fees? how would these exchanges make money? i would love to trade there lol

kassadin5

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Activity: 260

Merit: 250

i was looking at the volume among the exchanges for the first time in a long time and it seemed preposterous, literally a week later this happens.. how can this affect the market long term? outside of this sudden sell-shock, what could be the consequences for the western exchanges and their relative price?

alyssa85

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There arn't any fees on the chinese exchanges, so coins can be sold back and forth endlessly to paint the tape.

longshort3301

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the same bitcoin can be sold and bought multiple times a day, hence there is a possibility of having turnover greater than the number of bitcoins in existence. but the tape and orderbook shows everyting clearly, only one thing apart from fake volume can explain this paradox - dark pools on btcchina?))

ebliever

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Anyone who looks at the volumes on Coinmarketcap (click on Bitcoin, then the Markets tab) can see the Chinese volume claims are ludicrous. Often they report a higher _daily_ volume than the number of bitcoins in existence.

longshort3301

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I know this isnt a new thing for you guys but really.. there is a clear evidence of a fake volume on btcchina, someone who watches the orderflow can see it. there are times when the tape shows transactions with huge volumes ~200 btc sold ~300btc bought in matter of seconds or so, but there were no orders of such sizes in the orderbook.. the orderbook was thin as hell, in case of such big transactions there would be massive swings up and down in a matter of second. dont believe them or am i missing something?

Topic: btc china fake volumes - page 3. (Read 2456 times)