Topic: China - Back to #1 in BTC bought, #2 in overall volume. What??? - page 2. (Read 5341 times)
December 19, 2013, 04:32:16 PM
as far as i know, fiatleak is bullshit. for every transaction they show the amount o BTC bought, regardless the price. so it will always show BTCs flowing in, no matter if everybody is selling...
December 19, 2013, 04:28:41 PM
Right, because until people actually move money off the exchange, to the point of no return, most trading can resume as normal. The real consequence to the deposit ban will be a gradual decline in volume as the money that is withdrawn cannot be replaced by money moving in.
Perhaps that is true but then we have a bigger issue, or rather the Chinese government does - It doesn't look like people are selling their BTC's anymore. They aren't moving that money off of the exchanges, rather they are moving more money back into BTC.
When and if fiat dries up on the exchanges, the demand is there, and the people will find other ways to buy BTC is my bet. Remember, the government hasn't made it illegal. And we don't even yet know
their intentions. Will banks be doing the deposits back into the exchanges as the announcement implied and no longer 3rd party's? Will we see bitcoin.de escrow like sites set up? Will we see squares set up where people are buying them from one another? It looks like the government is just trying to slow things down and not stop BTC.
BTC's price before China got involved was $150-$200 or so. Considering we are around $700 now, the next few weeks will be very telling. Demand is going up, news stories abound - we don't "need" the Chinese but of course they would help in a huge way and in many ways as I alluded to above.
IAS
December 19, 2013, 04:21:09 PM
0.3400 and 0.3000 BTC traded the last two minutes http://bitcoinwisdom.com/markets/btcchina/btccny
I watched fiatleak last nite and 90% of all coins went to china at 4 in the morning beijing time?
I watched fiatleak last nite and 90% of all coins went to china at 4 in the morning beijing time?
December 19, 2013, 03:44:08 PM
I don't get this, if there is a suspension on bringing money into Chinese Bitcoin exchanges, how is China up there with Gox regarding Volume? http://bitcoincharts.com/markets/
And, China is #1 with BTC purchases, just watch Fiatleak. I've had it going for a while and right now it is showing 37,500 BTC buys in CNY and 8600 in USD. http://fiatleak.com/
And of note, when the news was first made a couple of days ago, fiatleak showed 1 BTC bought. Then yesterday it just started going crazy again.
Ideas?
IAS
And, China is #1 with BTC purchases, just watch Fiatleak. I've had it going for a while and right now it is showing 37,500 BTC buys in CNY and 8600 in USD. http://fiatleak.com/
And of note, when the news was first made a couple of days ago, fiatleak showed 1 BTC bought. Then yesterday it just started going crazy again.
Ideas?
IAS
maybe it was all a ploy and a huge conspiracy involving btcchina, banks, government figures to buy bitcoin for cheap, who knows. It indeed is kind of weird i personally expected prices to go sideway for at least a week but here we are back to 700$+ in no time and chinese buying on the rise. I think the next week or so things will be more clear.
December 19, 2013, 03:40:43 PM
I wonder why MTGox volume differs from what I see here: https://bitcoinaverage.com/#USD
The rest seem to be more or less the same.
The rest seem to be more or less the same.
December 19, 2013, 03:30:33 PM
Right, because until people actually move money off the exchange, to the point of no return, most trading can resume as normal. The real consequence to the deposit ban will be a gradual decline in volume as the money that is withdrawn cannot be replaced by money moving in.
December 19, 2013, 03:25:55 PM
I don't get this, if there is a suspension on bringing money into Chinese Bitcoin exchanges, how is China up there with Gox regarding Volume? http://bitcoincharts.com/markets/
And, China is #1 with BTC purchases, just watch Fiatleak. I've had it going for a while and right now it is showing 37,500 BTC buys in CNY and 8600 in USD. http://fiatleak.com/
And of note, when the news was first made a couple of days ago, fiatleak showed 1 BTC bought. Then yesterday it just started going crazy again.
Ideas?
IAS
And, China is #1 with BTC purchases, just watch Fiatleak. I've had it going for a while and right now it is showing 37,500 BTC buys in CNY and 8600 in USD. http://fiatleak.com/
And of note, when the news was first made a couple of days ago, fiatleak showed 1 BTC bought. Then yesterday it just started going crazy again.
Ideas?
IAS
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