Topic: Did anyone else notice CNY/BTC volume surpassed aggregate USD/BTC volume today? (Read 6258 times)
September 25, 2013, 02:58:59 PM
It's good to see rapid growth outside of the traditional markets. It can only mean good things!
September 25, 2013, 01:07:44 PM
I doubt they are lying about volume. That would be obvious to anyone trading there, and would probably scare them off. One thing they might be doing is automatic arbitrage with other exchanges. It's hard to get more info without being able to read the language... I appreciate any traders there who chime in.
September 25, 2013, 12:42:21 PM
Be very careful when reading the volume figures of CNY markets. Some may show fake volume. For example, www.btc008.com claims they have 8000BTC per day while the price is constantly and significantly higher than all other CNY markets
September 25, 2013, 07:50:55 AM
The daily production of 3k6BTC is only a fraction of the volume traded in China at the moment. Also do they need Chinese RMB? What for? It's a non-convertible currency that nobody really wants if avoidable.
The ASIC manufacturers sell the ASICs for BTC. Then they convert to RMB to spend on production.
I guess development makes up for the bigger part in the calculation and you will have to pay that up front, before you are able to sell hardware.
September 25, 2013, 07:40:30 AM
The daily production of 3k6BTC is only a fraction of the volume traded in China at the moment. Also do they need Chinese RMB? What for? It's a non-convertible currency that nobody really wants if avoidable.
The ASIC manufacturers sell the ASICs for BTC. Then they convert to RMB to spend on production.
September 25, 2013, 07:31:37 AM
The daily production of 3k6BTC is only a fraction of the volume traded in China at the moment. Also do they need Chinese RMB? What for? It's a non-convertible currency that nobody really wants if avoidable.
September 25, 2013, 07:21:56 AM
How trustworthy are these numbers?
How can it be that the price is still under the dollar level? I remember times (before the crash) when the price on btcchina was 15% higher than MtGox. Who is selling in China and where do they have all the Bitcoin from?
How can it be that the price is still under the dollar level? I remember times (before the crash) when the price on btcchina was 15% higher than MtGox. Who is selling in China and where do they have all the Bitcoin from?
I guess chinese asic manufacturers have plenty of btc..
September 25, 2013, 06:41:55 AM
How trustworthy are these numbers?
How can it be that the price is still under the dollar level? I remember times (before the crash) when the price on btcchina was 15% higher than MtGox. Who is selling in China and where do they have all the Bitcoin from?
How can it be that the price is still under the dollar level? I remember times (before the crash) when the price on btcchina was 15% higher than MtGox. Who is selling in China and where do they have all the Bitcoin from?
September 25, 2013, 04:18:45 AM
BTC100 is already 97% ot MtGox!
wow, amazing. china is the new us/europe when it comes to btc now.
September 25, 2013, 04:08:26 AM
BTC100 is already 97% ot MtGox!
September 25, 2013, 03:54:36 AM
This is not the first time. CNY volume has really taken off in the last 2 months! More tickers/charts need to add the rest of the CNY exchanges. Many of them only have BTCChina - which used to have ~90% of the volume, now they are typically closer to 10%.
Can't wait to see what happens when China -really- notices Bitcoin.
Can't wait to see what happens when China -really- notices Bitcoin.
I think it's first time for aggregate volume. Not 100% sure because my data set doesn't cover everyday.. But only a couple data points missing. Ditto on BTCC tho
September 24, 2013, 10:18:43 PM
This is not the first time. CNY volume has really taken off in the last 2 months! More tickers/charts need to add the rest of the CNY exchanges. Many of them only have BTCChina - which used to have ~90% of the volume, now they are typically closer to 10%.
Can't wait to see what happens when China -really- notices Bitcoin.
Can't wait to see what happens when China -really- notices Bitcoin.
September 24, 2013, 06:55:52 PM
This is big news if this keeps really growing.
September 24, 2013, 06:03:39 PM
This makes perfect sense considering the restrictions on moving money from inside China the 'antiquated' way.
Same holds true for some other countries in Asia and South America. These regions should see spikes in volume as the masses learn how to move their fiat money through BTC.
However once there is some government scrutiny on the currency then the loopholes will be filed for the most part leveling out the volume spikes.
Cheers...
Same holds true for some other countries in Asia and South America. These regions should see spikes in volume as the masses learn how to move their fiat money through BTC.
However once there is some government scrutiny on the currency then the loopholes will be filed for the most part leveling out the volume spikes.
Cheers...
September 24, 2013, 05:56:07 PM
There's also an upcoming Bitcoin Conference in Singapore. > http://eventnook.com/event/btcsg/home
There's bound to be bitcoin users from China heading there to find out more.
There's bound to be bitcoin users from China heading there to find out more.
September 24, 2013, 01:18:21 PM
Well, its been what, 5 months since all the China hype (after that short piece about Bitcoin aired on CCTV). Now we're seeing the effects.
September 24, 2013, 01:16:47 PM
www.btc123.com
z.btc123.com
z.btc123.com
September 24, 2013, 01:04:56 PM
This +1... Are you people seeing this?
Well it's up on reddit now, so I'm sure someone will write an article based on what you found.
September 24, 2013, 12:56:16 PM
So.... this is how China get back at US for printing money....?
I still doubt China government let ppl trade btc at free will.
I still doubt China government let ppl trade btc at free will.
September 24, 2013, 11:10:59 AM
I made a google doc that parses btckan.com and displays the CNY volume vs BTC.
https://docs.google.com/spreadsheet/ccc?key=0AjlcmguMaCvJdEdhcHItNEdVNFloQVQ3aTlCUjhpMkE&usp=sharing
https://docs.google.com/spreadsheet/ccc?key=0AjlcmguMaCvJdEdhcHItNEdVNFloQVQ3aTlCUjhpMkE&usp=sharing
This +1... Are you people seeing this? It is a Tuesday and we're looking at 43% volume is in China.......... zoig on a 24hr chart meaning trading activity doesn't match up. If there was ever a clear sign that China will be the future home of Bitcoin this is it. What happens when they make up the majority of volume consistently? Will price discovery start happening at 9pm EST?
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