[China's fakeness] Before and after | Bitcointalksearch.org

maydna

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Quote from: Herbet Fry on February 14, 2017, 09:18:55 PM

People need to do their own research before blindly believing in something or just saying things because they think they right but dont know they right. China has a massive portion but its nowhere near the amount the sensationalize in the media. I'm not really sure why social media keeps saying these things. What advantage is there ? Or is it to just blame the price shifts on China ?

i am agree with this, and yes we need to make our analyze before we make a step after we read many news about bitcoin especially with china's fake with bitcoin. we need to make decision what we are gonna do after we know the real thing in the news and i think we don't have to hear about the news in outside because as long as the bitcoin itself is not giving much of affect in the price then the news will not stay for long times and maybe it is just for making panic shocks in the market.

Herbet Fry

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People need to do their own research before blindly believing in something or just saying things because they think they right but dont know they right. China has a massive portion but its nowhere near the amount the sensationalize in the media. I'm not really sure why social media keeps saying these things. What advantage is there ? Or is it to just blame the price shifts on China ?

pooya87

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Quote from: mining1 on February 09, 2017, 10:10:07 AM

Quote from: pooya87 on January 26, 2017, 12:58:49 AM

for years on the social media regarding bitcoin, we have been hearing these words "China is controlling bitcoin" i have always shook my head in disappointment after seeing how many people fall for the manipulative words.

And apparently they were right. Bitcoin exchanges paused the trading for one month, while insiders benefited from this information while the average joe lost alot of money. Bitcoin is centralized from all points of views: mining, development, political centralization at both government level and development level. Not only they control the mining, but they easily about 50% of the bitcoin aswell, given the trading volume in china. And don't tell me they "bought" it because china is a poor country. They mined it.

nonsense.
average Joe shouldn't even be "trading" bitcoin to lose lots of money in the first place. they either have to be a trader or invest long term.

also there are two more things if the average Joe had bought bitcoin 2+ weeks ago he is still in profit!
also if he continues holding price will go back up after this shitstorm of manipulation passes.

50% haha that is 8 million bitcoin aka nearly 8 billion dollar. and besides trading volume is trading volume not how much Chinese hold. if you buy 10BTC now and sell 10BTC when price goes up 6 hours later the trading volume will be 20BTC and you see this 20BTC and think China is holding 20BTC whereas they hold nothing except fiat!

Kprawn

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Quote from: megynacuna on February 09, 2017, 08:43:41 AM

Quote from: shinratensei_ on January 26, 2017, 02:04:09 AM

That's why the total number in coinmarketcap by the chinese exchanges are so redundant.

Exactly it's no sense.

Yes these Chinese are faking everything and it's about time we have a global standardization of everything because the chimes seem to be at variance with global standardization

If we shift all blame to the Chinese, we neglect to look at our own mistakes.... The west did not invest in Bitcoin farms and now they want to

blame the Chinese for everything. I just shake my head when I look at all the fud being spread about the Chinese, and it makes me wonder if

there are not a little bit of jealousy involved here. Huh

Pab

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China controling bitcoin is fake news,with current price westerness mining comanys can work in full.Trading volume yes biggest is from China but there is well over 1 bln chinise.With new reguation established for chinise exchanges trading will be more real and less speculative what will be good for bitcoin

gentlemand

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I don't buy the mining chart. All a miner has to do is start a second pool and point towards that. They know perfectly well how sweaty people get when the proportions get too high. You wouldn't stop mining, you'd disguise it as someone else. They don't care enough about decentralisation to sacrifice profit. They'll assume that they know best as long as no one else does.

I get the feeling that if we had a glimpse of who's really in charge of mining and how they can all fit on the back seat of a family car we might all cream our knickers in horror.

faysher

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Price of bitcoin have dropped ~10$ from 1050 to 948 at. The season is Two of China's most widely used bitcoin exchanges have announced that they will suspend bitcoin and litecoin withdrawals for one month effective immediately

MFahad

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Quote from: kaijialex on January 26, 2017, 10:27:29 AM

Even with the raised fee, people are still trading at OkCoin and BTCC with huge volume compared to other exchanges.

I don't find huobi in your second pie chart, is there any reason for that?

Well, China is the World leader in most of the things and bitcoin is one of them. They have enjoyed lots of trading without fee in Chinese exchanges and now with fee wont let them back away. They are indirectly manipulating the bitcoin prices to their best interest.

jaberwock

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Or maybe people moved the coins out of Chinese exchanges in the fear that something like all crypto withdraws be disabled would happen, like in fact just happened?

I would not leave any coin sitting in the chinese exchanges while the Bank of China inspected them, also when they come back they may freeze people's funds with or without reason, or demand new documents and charge higher withdraw fees

allthingsluxury

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It cannot be denied that Chinese authorities dislike BTC and do not want it to get out of hand in their country. This is also true in many Western societies, politicians control the source of "money", it is their source of power and they know this. They will protect it at all cost if there is a great enough threat.

mining1

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Quote from: pooya87 on January 26, 2017, 12:58:49 AM

for years on the social media regarding bitcoin, we have been hearing these words "China is controlling bitcoin" i have always shook my head in disappointment after seeing how many people fall for the manipulative words.

And apparently they were right. Bitcoin exchanges paused the trading for one month, while insiders benefited from this information while the average joe lost alot of money. Bitcoin is centralized from all points of views: mining, development, political centralization at both government level and development level. Not only they control the mining, but they easily about 50% of the bitcoin aswell, given the trading volume in china. And don't tell me they "bought" it because china is a poor country. They mined it.

Mometaskers

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I'm not into trading yet but I think this is good news. There was another meeting and this time the price didn't plunge so I think that's a good start.

Rahar02

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Quote from: pooya87 on January 26, 2017, 12:58:49 AM

for years on the social media regarding bitcoin, we have been hearing these words "China is controlling bitcoin" i have always shook my head in disappointment after seeing how many people fall for the manipulative words.

you can even see a topic with this exact title here and half of people voting "Yes" for it!

here is how fake Chinese trading volumes were:

source of the charts: https://data.bitcoinity.org

and although i have always been saying having the mining power has nothing to do with any of all this, since not long ago ghash.io had 51+% of the hashrate in one place and nothing happened, but i would like to share this image here also because i find it relevant:

source: Reddit (it looks like the same above site was used)

Fake volume? The truth has revealed now. But, they trading volume seems still leading the market price.
At least, we know that bitcoin spread widely and there's no country that really control bitcoin.
But, I don't think bitcoin market will free from price manipulation as the market cap isn't big enough, the manipulation is real.

densuj

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Quote from: szpalata on February 09, 2017, 09:26:07 AM

Quote from: shinratensei_ on January 26, 2017, 02:04:09 AM

That's why the total number in coinmarketcap by the chinese exchanges are so redundant.

Exactly it's no sense.

I never knew those flakes could take it to this level of fakeness. They just hype the market for no reason and all Bitcoin population should search for credible information from competent sources and not what the Chinese are telling us.

Yes must there are valid data from China about user's bitcoin on there
due to we are still speculation about it,
the opinions without valid proof will gives wrong information
we are depend on opinions without valid data.

szpalata

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Quote from: shinratensei_ on January 26, 2017, 02:04:09 AM

That's why the total number in coinmarketcap by the chinese exchanges are so redundant.

Exactly it's no sense.

I never knew those flakes could take it to this level of fakeness. They just hype the market for no reason and all Bitcoin population should search for credible information from competent sources and not what the Chinese are telling us.

serjent05

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Quote from: megynacuna on February 09, 2017, 08:43:41 AM

Quote from: shinratensei_ on January 26, 2017, 02:04:09 AM

That's why the total number in coinmarketcap by the chinese exchanges are so redundant.

Exactly it's no sense.

Yes these Chinese are faking everything and it's about time we have a global standardization of everything because the chimes seem to be at variance with global standardization

As i see the chart with and without the fee implemented, trader become conservative after a fee was implemented, I don't think that the exchanges intentionally fake the transaction, they are just broadcasting them, I think the one faking the trades them is/are some whales that took advantage of 0 fee, now that fee is implemented, seems these whales stop the fake trades.

With regards to the mining power, it is established that China does not own more than half of those hashes, it is just some people who want to spread fear who keep on pushing this Idea.

calkob

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Bitcoin needs to prove that it isnt controlled by China by dealing with these crashes..... everytime the PBOC speaks the market falls. If china wasnt an influence then this wouldnt happen, i do think that it is getting more resistant to china tho.

megynacuna

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Quote from: shinratensei_ on January 26, 2017, 02:04:09 AM

That's why the total number in coinmarketcap by the chinese exchanges are so redundant.

Exactly it's no sense.

Yes these Chinese are faking everything and it's about time we have a global standardization of everything because the chimes seem to be at variance with global standardization

HarringtonStark

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China is always expanding. It is territory hungry and even in the Internet, it is expanding!

Xester

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Quote from: shapeshiftscam on February 09, 2017, 01:55:34 AM

Quote from: Amph on January 26, 2017, 02:43:36 AM

Quote from: Catmony on January 26, 2017, 01:45:42 AM

After chinese trading platforms started to have trading fees there is no way for manipulators to make fake orders and buy/sell on their own orders to pump the volume. This is good for bitcoin market and this may also make people aware of the fact that china is not the only one behind every pump/dump.

They can still manipulate, but it will cost them money, before it was free to do it this is the only difference, you can't stop market manipulation no matter what you do it is present everywhere not only in bitcoin

You are right, if exchanges have their own accounts to buy and sell, this can fake the volume too, additionally they don't lose money because the accounts are theirs. They use this trick to hype more volumes in order to get more venture capital funds.

As of this moment the Chinese Exchangers can no longer do this things, such as market manipulation and fake volumes. The PBOC has made strict rules and regulations on all CHinese Exchangers that they should follow the prescribed requirements and conditions and if they fail to follow those policies they will be out of business.

Topic: [China's fakeness] Before and after (Read 1860 times)