I hope they don't hurt themselves and coin community by rigging up the market with fake volumes. Of course we need to have a healthy liquidity but everything has a limit. The Chinese stock market has always been a casino, look at it and see how it has corrected in the past 3 years.
This reminds me of how MT.Gox used to rig up the price of bitcoins to 1200 USD and the crash when Mt.Gox got hacked. Stay alert guys.
Topic: CNY and JPY have enjoyed 90% share of trading market (Read 1279 times)
It's surprising they don't have many altcoin exchanges in China and Japan, they mostly trade Bitcoins.
there are many altcoin exchanges located in China and Japan but we may not know or hear about them so often. for example there is yunbi which is located in Beijing and it is number 10 in coinmarketcap in trade volume.
Is it not already a known fact that the exchanges with 0% fees trade with themselves in order to create fake volume? The CEO of Bitcoin China already said this about Okcoin. Okcoin is already known to be creating fake volume. So it will not come as a surprise that the other exchanges that have 0% fees are creating fake volume too.
It's been proposed enough times but I don't know if it's been comprehensively proven. I remember some ex OKcoin employee saying they were told to keep it churning. There's nothing stopping them from doing so however there are probably enough traders ready to ping coins back and forth for it not to be a necessity.
Well it would be a necessity if the exchange owners want to attract more users. By increasing their volume artificially it makes them look like they have a good and healthy operation with liquid markets. I mean who would want to have and own a low volume exchange? With all the questionable schemes that we have seen in the bitcoin world, it would be stupid of us not to believe that faking the volume is not happening right now.
It's surprising they don't have many altcoin exchanges in China and Japan, they mostly trade Bitcoins.
it is kind of strange. they love gambling so why not go where the craziest gambling is? they definitely have a thing for mining and I dunno how many Chinese people mine stuff other than btc, ltc and eth and there are Chinese markets for all of them.
It is obvious that when it comes to bitcoins, China comes first always even when being traded in fiat.
Because they hold a very big share of bitcoins which no other countries have.
Because they hold a very big share of bitcoins which no other countries have.
It's surprising they don't have many altcoin exchanges in China and Japan, they mostly trade Bitcoins.
CNY is dominated volume transaction in market bitcoin
you can see 5 big exchanger volume transaction all from china and pair bitcoin and yuan
in big volume transaction
but JPY still under market dollar
you can see 5 big exchanger volume transaction all from china and pair bitcoin and yuan
in big volume transaction
but JPY still under market dollar
I had no idea that such a thing as a 0% fee exchange existed. Is it really free to exchange coins?
If so, how would a business like this turn a profit?
If so, how would a business like this turn a profit?
Yes, it's free to trade. I assume they make their money from fees on margin trading, perhaps charging withdrawal fees and of course front running their customers.
That really makes me interested in the Okcoin business model.
I had no idea that such a thing as a 0% fee exchange existed. Is it really free to exchange coins?
If so, how would a business like this turn a profit?
It would cost a huge amount of money to run a successful exchange and keep servers running, security up to date, support staff on hand, etc...
How are they affording all this? I don't see any ads on their site? Are they offering some other products/ services that charge a fee?
I had no idea that such a thing as a 0% fee exchange existed. Is it really free to exchange coins?
If so, how would a business like this turn a profit?
It would cost a huge amount of money to run a successful exchange and keep servers running, security up to date, support staff on hand, etc...
How are they affording all this? I don't see any ads on their site? Are they offering some other products/ services that charge a fee?
Is it not already a known fact that the exchanges with 0% fees trade with themselves in order to create fake volume? The CEO of Bitcoin China already said this about Okcoin. Okcoin is already known to be creating fake volume. So it will not come as a surprise that the other exchanges that have 0% fees are creating fake volume too.
It's been proposed enough times but I don't know if it's been comprehensively proven. I remember some ex OKcoin employee saying they were told to keep it churning. There's nothing stopping them from doing so however there are probably enough traders ready to ping coins back and forth for it not to be a necessity.
something interesting here https://www.coinhills.com/market/currency/
it turned out that the USD is a small currency in Bitcoin world.
okay, let's excluded chinese exchanges
even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?
this only proves that there are far more "traders" in Japan and China "trading" bitcoin with their money and also proves that once again zero fees on their exchanges are a volume magnet because you can make profit even with an stable market like this while it becomes that much harder with bitcoin / USD exchanges that charge 0.25% fee.
Is it not already a known fact that the exchanges with 0% fees trade with themselves in order to create fake volume? The CEO of Bitcoin China already said this about Okcoin. Okcoin is already known to be creating fake volume. So it will not come as a surprise that the other exchanges that have 0% fees are creating fake volume too.
Bitcoin is a rising star in Japan.
It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now.
I can't see much evidence of bitcoin getting anywhere in japan and you can't use it for anything in china other than trading once you've mined it. there is only one reason for both countries being up there and that is zero fees. if north korea had zero fee exchanges then that would be the number one.
It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now.
I can't see much evidence of bitcoin getting anywhere in japan and you can't use it for anything in china other than trading once you've mined it. there is only one reason for both countries being up there and that is zero fees. if north korea had zero fee exchanges then that would be the number one.
something interesting here https://www.coinhills.com/market/currency/
it turned out that the USD is a small currency in Bitcoin world.
okay, let's excluded chinese exchanges
even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?
this only proves that there are far more "traders" in Japan and China "trading" bitcoin with their money and also proves that once again zero fees on their exchanges are a volume magnet because you can make profit even with an stable market like this while it becomes that much harder with bitcoin / USD exchanges that charge 0.25% fee.
something interesting here https://www.coinhills.com/market/currency/
it turned out that the USD is a small currency in Bitcoin world.
okay, let's excluded chinese exchanges
even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?
Bitcoin definitely is popular in Japan.
But what you should be looking at is overall bitcoin transaction volume, rather than just trading volume at exchanges.
something interesting here https://www.coinhills.com/market/currency/
it turned out that the USD is a small currency in Bitcoin world.
okay, let's excluded chinese exchanges
even btcusd only have 700-4000 BTC volume now, JPY still has 10000-40000 volume, so Bitcoin is very popular in japanese?
The dollar is strong and looking good, not so much for CNY and JPY so what's the surprise here?
With all the Chinese miners I would definitely expect the most trading to be done in Chinese currency.
But it is a surprise that Japan does so much trading. That is something I would not have expected.
Is it just a lot of large traders, or is BTC popular in Japan?
But it is a surprise that Japan does so much trading. That is something I would not have expected.
Is it just a lot of large traders, or is BTC popular in Japan?
Actually china have majority of mining power so they will generate more bitcoin than other miners as well as chinese are behind the every price pump of bitcoin usually so large volume coming from china is not a suprise.
It doesn't surprise me at all that one of the most technologically advanced countries and the biggest country in the world do a lot of the trading with one of the most innovative and disruptive assets on the internet right now. Having them be doing 90% of the trading makes sense, especially when you consider a lot of who you'd expect to be doing the trading.
It's not something a small thing ", I think this is just based on the amount of transactions carried out in the form of bitcoin into the currency of each country. This is not a problem for the life of the bitcoin, which would be growth problems is bitcoin going forward. Because if bitcoin only gives the impression, then growth will be stunted bitcoin
i don't know much about the JPY markets but the CNY markets especially in okcoin has always been a hot market with a massive volume, which can be partly fake volume partly because of the zero fee rule of that exchange which lets you be more active with your trades and also their price swings are greater than price swing of BTC/USD which makes a bigger volume too.
i the world real curency dollar still dominated in market trading in fiat money
but in trading bitcoin the first and dominan market is CNY
you can see volume transcation in huobi and okcoin in coinmarketcap, pair CNY/BTC is dominan high volume transaction
but in trading bitcoin the first and dominan market is CNY
you can see volume transcation in huobi and okcoin in coinmarketcap, pair CNY/BTC is dominan high volume transaction
i have never heard of that site before so i always check the coinsmarketcap and i always see the Chinese exchanges at the bottom (excluded volume) from the total volume and they have mad volume each day.
it is because of the 0 fee!
it is because of the 0 fee!
something interesting here https://www.coinhills.com/market/currency/
it turned out that the USD is a small currency in Bitcoin world.
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