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Topic: Exchange volume distribution. BTC belongs to China (Read 3739 times)

sr. member
Activity: 294
Merit: 250

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? Smiley This is the question and nobody answers

It's because everyone on this forum fits into one of three categories, clueless teenager, brain dead adult, or shill.

I agree and further more they never do their research and just believe in what they read.  Anyway i think those trades are just manipulation.  Bots trading perhaps.  But some article says that Chinesse are really into buying this BTC for money transfer.  They are moving the wealth outside China border.  And BTC transaction is one that is hard to tract.

how can they buy when the banks are not allowed to deal with them? remember that China is a communist country and they control the financial sector very good. it's not a joke.

Even in Europe, the banks are asking a lot of questions if you(a company)are receiving millions of USD for bitcoin. the chinesse exchangers, according to the volumes they show, they should receive/send millions of USD per day.

What bank in this world is not asking question if you receive/send millions daily and all these transactions are for Bitcoin? Smiley  

http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions


In China, you can send money from banks to exchanges without any problem. The banks are not allowed to deal with bitcoin.
legendary
Activity: 1470
Merit: 1004

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? Smiley This is the question and nobody answers

It's because everyone on this forum fits into one of three categories, clueless teenager, brain dead adult, or shill.

I agree and further more they never do their research and just believe in what they read.  Anyway i think those trades are just manipulation.  Bots trading perhaps.  But some article says that Chinesse are really into buying this BTC for money transfer.  They are moving the wealth outside China border.  And BTC transaction is one that is hard to tract.

how can they buy when the banks are not allowed to deal with them? remember that China is a communist country and they control the financial sector very good. it's not a joke.

Even in Europe, the banks are asking a lot of questions if you(a company)are receiving millions of USD for bitcoin. the chinesse exchangers, according to the volumes they show, they should receive/send millions of USD per day.

What bank in this world is not asking question if you receive/send millions daily and all these transactions are for Bitcoin? Smiley  

http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions




legendary
Activity: 3010
Merit: 1280
Get $2100 deposit bonuses & 60 FS

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? Smiley This is the question and nobody answers

It's because everyone on this forum fits into one of three categories, clueless teenager, brain dead adult, or shill.

I agree and further more they never do their research and just believe in what they read.  Anyway i think those trades are just manipulation.  Bots trading perhaps.  But some article says that Chinesse are really into buying this BTC for money transfer.  They are moving the wealth outside China border.  And BTC transaction is one that is hard to tract.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? Smiley This is the question and nobody answers

It's because everyone on this forum fits into one of three categories, clueless teenager, brain dead adult, or shill.
legendary
Activity: 1470
Merit: 1004

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you

how is that possible when the chinesse banks are not allowed to deal with Bitcoin exchangers and neither with persons who are dealing/trading BTC? Smiley This is the question and nobody answers
sr. member
Activity: 322
Merit: 250

indeed, I think china market is the most crowded with fluctuating every hour. it keeps people from coming to the china market outside china I think, and make bitcoin volume in China booming. Thank you
sr. member
Activity: 299
Merit: 250
The Chinese exchanges charge 0% trading fee, so the volume there is not real. It can be manipulated easily.
legendary
Activity: 3276
Merit: 1029
Leading Crypto Sports Betting & Casino Platform
On the previous topic, I've heard if volume distribution in china's exchange is only manipulated but I don't know Which is right, 3 largest Chinese mining firms control the 70% of volume and network speed. maybe it's will give effect in volume distribution too.
legendary
Activity: 1470
Merit: 1004
Chinese have all the bitcoins because they are industrious intelligent people. Westerners don't have as many bitcoins because all they do all day is sit around getting high and posting on forums.

sure. they are "intelligent". they have the "Willy bot" and they put it work from time to time like now. Smiley
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Chinese have all the bitcoins because they are industrious intelligent people. Westerners don't have as many bitcoins because all they do all day is sit around getting high and posting on forums.
hero member
Activity: 602
Merit: 500
As far as I know the Chinese are interested only in the mining of Bitcoin and the general population hardly ever uses Bitcoin for online purchases so merchants in China are a minority and don't have any important say in the Bitcoin matters. The miners hold almost all the coins themselves in China.

It really shouldn’t make a difference if the majority of miners where in China, USA or any other part of the world; at we are getting a decent supply; the main issue is the demand; if the demand should decline then the value of the bitcoin would decrease; this can also affect the supply because no one would want to mine for less.
hero member
Activity: 756
Merit: 500
Not sure if the volume is real. Maybe they use different formula for the calculations. Nevertheless, there is no doubt that Chinese in China have great interest in BTC.

You have different opinions, but it is indeed real. You can prove yourself if you don't believe it. You may not yet know the formula that is used and it is causing you not to believe. Not denied that China is becoming a big market for Bitcoin and it strengthens market Bitcoin. Hope is not only China that became the Foundation of the BTC but also other countries
sr. member
Activity: 350
Merit: 251
Shit, did I leave the stove on?
China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.

It's an artificial hype. It's based on false volume and that's why the normal people are staying away for BTC.

Why should the normal people stay away from Bitcoin? Normal people could still be using Bitcoin as a currency and not a store of value if they wish. If normal people should not use Bitcoin because of fake trade volume and artificial hype then which alt coin do you suggest they should start using instead. Let me guess, is it Ethereum?
legendary
Activity: 1470
Merit: 1004
I expect most sites listing bitcoin pricing are perfectly aware of the situation with Chinese exchanges, and handle it in a manner similar to Coinmarketcap.com:
http://coinmarketcap.com/currencies/bitcoin/#markets

Notice that all the fee-free Chinese exchanges are listed down at the bottom (starting at #87 on the list as of this moment) - and right now, Chinese exchanges are only represented by OKCoin in #4, out of the top 10!



#   Source   Pair   Volume (24h)   Price   Volume (%)   Updated
1   Poloniex   ETH/BTC   $ 18,713,500   $ 454.20   31.37 %   Recently
2   Kraken   ETH/BTC   $ 5,737,290   $ 454.20   9.62 %   Recently
3   Bitfinex   BTC/USD   $ 4,113,790   $ 453.53   6.90 %   Recently
4   OkCoin Intl.   BTC/USD   $ 3,588,240   $ 452.65   6.02 %   Recently
5   Kraken   BTC/EUR   $ 2,846,940   $ 453.96   4.77 %   Recently
6   Coinbase Exchange   BTC/USD   $ 2,720,390   $ 456.00   4.56 %   Recently
7   BTC-E   BTC/USD   $ 2,331,790   $ 452.30   3.91 %   Recently
8   Bitfinex   ETH/BTC   $ 2,122,840   $ 454.20   3.56 %   Recently
9   Bitstamp   BTC/USD   $ 1,603,690   $ 453.60   2.69 %   Recently
10   itBit   BTC/USD   $ 1,311,060   $ 452.74   2.20 %   Recently

please read again and you will notice that the chinesse exchangers are on top with over 90% CNY and USD from market.


Only Chinese exchange I see there is OkCoin. Coinmarketcap specifically excludes the zero-fee exchange volumes from their calculations.

Did you mean "Coinmarketcap specifically excludes the exchange with fake volume from their calculations" Roll Eyes

Do you know any website who shows the real volumes?
legendary
Activity: 1470
Merit: 1004
China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.

It's an artificial hype. It's based on false volume and that's why the normal people are staying away for BTC.
legendary
Activity: 1022
Merit: 1003
𝓗𝓞𝓓𝓛
China is just being to hype for Bitcoin, especially for the halving. This is could be a good thing, and also bad thing if the amount keep increasing.
legendary
Activity: 1470
Merit: 1004
I think it is because of its zero trading fees, as people want to work on those bitcoin trading exchanges where the exchange fees are much lower or they do not have any exchange fees, and the other thing is that the people of China are more interested in bitcoin and they use their country's exchanges so a large number of bitcoin users are there,

 In china, the banking institutions are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry.

http://www.bloomberg.com/news/articles/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions

in short, the people cannot send or receive money into their bank accounts from and to exchangers.
More than that, all the exchangers are outlaw. They are not financial licensed as the chinese law requests.

The question is : How is it possible for the chinesse exchangers to own over 95% from BTC trades while they cannot deal with local banks? I agree that SOME of their clients may send international bank wires(outside of China) by lying the banks that they are sending the money for buying biscuits...BUT we are talking about +95% from Bitcoin trades not 10 wires Smiley


hero member
Activity: 644
Merit: 500
I think it is because of its zero trading fees, as people want to work on those bitcoin trading exchanges where the exchange fees are much lower or they do not have any exchange fees, and the other thing is that the people of China are more interested in bitcoin and they use their country's exchanges so a large number of bitcoin users are there,
legendary
Activity: 2282
Merit: 1023
Not sure if the volume is real. Maybe they use different formula for the calculations. Nevertheless, there is no doubt that Chinese in China have great interest in BTC.
legendary
Activity: 2604
Merit: 1036
As far as I know the Chinese are interested only in the mining of Bitcoin and the general population hardly ever uses Bitcoin for online purchases so merchants in China are a minority and don't have any important say in the Bitcoin matters. The miners hold almost all the coins themselves in China.
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