Fiatleak.com showing massive, ongoing BTC buying from China

Acidyo

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Will Bitcoin Rise Again to $60,000?

Quote from: God on March 30, 2014, 01:24:58 PM

Quote from: Beliathon on March 30, 2014, 11:49:07 AM

fiatleak doesn't account for selling, I don't think. Only buying.

China has no way to "play us". The blockchain is a public ledger, worldwide. You can't manipulate it, that's the whole point.

You should also keep in mind that the market deoths volumes in China are most likely faked. There's been proof of this going on in the past and they were talking about this on CoinSummit too.

Only on this forum created by our almighty Satoshi is God only a member.

billysweird

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Quote from: God on March 30, 2014, 01:24:58 PM

Quote from: Beliathon on March 30, 2014, 11:49:07 AM

fiatleak doesn't account for selling, I don't think. Only buying.

China has no way to "play us". The blockchain is a public ledger, worldwide. You can't manipulate it, that's the whole point.

You should also keep in mind that the market deoths volumes in China are most likely faked. There's been proof of this going on in the past and they were talking about this on CoinSummit too.

Totally agree!!!

benjamindees

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Quote from: zzojar on April 07, 2014, 12:20:48 PM

If fiatleak only shows trades, then that means that the Chinese are not just the biggest buyers, but they are also the biggest sellers of bitcoin?

I don't think any exchanges have restrictions on who can deposit and sell Bitcoins. So sellers could be from anywhere.

Nagle

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Quote from: SlipperySlope on March 31, 2014, 04:56:12 AM

What I would like from a site like Fiatleak is the net amount of fiat entering an exchange. But as this data is not available, the site uses trades - which is distorted by zero-fee trading common on Chinese exchanges.

Right. We have to keep explaining this to n00bs. Fiatleak has no info about actual money flows. All it sees is trading within exchanges. Fiatleak can't see deposits or withdrawals, because they don't have access to the exchange's balance sheet. If it's the same money going round and round, Fiatleak reports it as an inbound flow. That's just wrong.

(Then there's Mt. Gox, which doesn't seem to have had a balance sheet, or any kind of accounting system to detect missing assets.)

SlipperySlope

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Stephen Reed

Quote from: zzojar on April 07, 2014, 12:20:48 PM

If fiatleak only shows trades, then that means that the Chinese are not just the biggest buyers, but they are also the biggest sellers of bitcoin?

That's exactly right.

Zero fee trading is a good thing. Slippage on an exchange occurs when a big order cannot be filled at the market price because of a lack of liquidity. Zero fee trading permits human market makers, and computer algorithm software, to supply bids and asks very near to the current market price. Zero fee trading means less slippage and a better experience for the informed traders, according to the theory of market microstructure.

zzojar

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If fiatleak only shows trades, then that means that the Chinese are not just the biggest buyers, but they are also the biggest sellers of bitcoin?

SlipperySlope

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Stephen Reed

What I would like from a site like Fiatleak is the net amount of fiat entering an exchange. But as this data is not available, the site uses trades - which is distorted by zero-fee trading common on Chinese exchanges.

Zero fee trading is great, but not used everywhere.

enuma

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Ive discussed the fiatleak creator and the way he set the code up it consider all trades as a "buy" since there is always a buyer in one of the sides. I i tried to convince him otherwise but was no use

btcxyzzz

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Monero - secure, private and untraceable currency.

"Each trade results in a Bitcoin being sent from the currency counter in red to the country on the map." - so clearings of both orderbooks are accounted. It shows activity - not how much China is buying or selling.

the_viper

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Do idiots really think people in china are buying loads of coins. lol

0% fee exchanges are your answer and fiatleak shows trades not purchases.

I can be MR huobis brother, clone his exchange platform and buy and sell coins to myself all day and make it look like I have 10K daily volume easy.

I should have shorted the market more if people actually think china is still in the game. I was sure the exit was almost priced in but I guess not for everyone yet

bitluryz

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Quote from: crazynoggin on March 30, 2014, 01:43:17 PM

It wouldn't surprise me if the majority of the buys are fake.

I am following fiatleak since several month, be surprise because they are real

franky1

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Quote from: Nagle on March 30, 2014, 01:44:09 PM

Since China's exchanges are being cut off from China's banking system,

China exchanges have not been cut off, and as long as they have a licence by april 15th, they wont be cut off..

Nagle

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Quote from: Beliathon on March 30, 2014, 11:49:07 AM

fiatleak doesn't account for selling, I don't think. Only buying.

Not even that. Fiatleak can't see deposits and withdrawals from exchanges, only trades. Transactions within an exchange will show as "Bitcoin buying".

Since China's exchanges are being cut off from China's banking system, the transactions there are probably mostly within the exchange. (Makes you think of Mt. Gox, but in China, there really is government intervention.)

crazynoggin

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It wouldn't surprise me if the majority of the buys are fake.

Und3rd0g

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Quote from: dancupid on March 30, 2014, 11:57:03 AM

Quote from: DubFX on March 30, 2014, 11:54:22 AM

280 coins in 2 minutes...wow...wish it would show selling also.

Buying and selling are the same thing - when someone sells something, someone else is buying.
Lot's of people are buying Bitcoins in China because lot's of people in China are selling Bitcoins.

+1

ujka

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Quote from: franky1 on March 30, 2014, 12:55:43 PM

china is not playing anyone. american and euro media are!!

china is not banning citizens depositing into exchanges
china is not banning exchanges that get licenced in regards to telecommunications regulations

the media and dumb FUD spreaders here are playing scare tactics to make people panic.

blame fud spreaders and read the source information, not the misinterpreted media stories. the actual source..

bitcoin exchanges will not close, their bank acconts will not be frozen as long as they are licenced.

the only ban that china has imposed is for banks to not do trading themselves as part of THEIR investment portfolio.

no ban has been imposed on citizens.

so stop with the FUD and panic. btcchina is trading as usual and more people are realising it.

That's how I understood it.

God

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Quote from: Beliathon on March 30, 2014, 11:49:07 AM

fiatleak doesn't account for selling, I don't think. Only buying.

China has no way to "play us". The blockchain is a public ledger, worldwide. You can't manipulate it, that's the whole point.

You should also keep in mind that the market deoths volumes in China are most likely faked. There's been proof of this going on in the past and they were talking about this on CoinSummit too.

bitluryz

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People from american and euro media "could" Grin

have received some money before spread ? Grin

noooo, never a such think could happen Grin

(ironic)

lppeu

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Quote from: DubFX on March 30, 2014, 11:54:22 AM

280 coins in 2 minutes...wow...wish it would show selling also.

280 coins in 2 minutes？So crazy?

franky1

legendary

Activity: 4424

Merit: 4794

china is not playing anyone. american and euro media are!!

china is not banning citizens depositing into exchanges
china is not banning exchanges that get licenced in regards to telecommunications regulations

the media and dumb FUD spreaders here are playing scare tactics to make people panic.

blame fud spreaders and read the source information, not the misinterpreted media stories. the actual source..

bitcoin exchanges will not close, their bank acconts will not be frozen as long as they are licenced.

the only ban that china has imposed is for banks to not do trading themselves as part of THEIR investment portfolio.

no ban has been imposed on citizens.

so stop with the FUD and panic. btcchina is trading as usual and more people are realising it.

Topic: Fiatleak.com showing massive, ongoing BTC buying from China (Read 3975 times)