How Chinese is Bitcoin? — Part 1: Trade Volume

alyssa85

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Quote from: alyssa850 on January 13, 2017, 01:59:10 PM

Quote from: alyssa85 on January 13, 2017, 01:54:57 PM

Quote from: alyssa850 on January 13, 2017, 01:29:02 PM

Instead of seeing you spreading indefensible and irresponsible fuds & making basic errors around i came forward pick this account name to burst your fuds. you don't like it? then don't tell fuds.

In other words you are hiding your identity because you are a China shill. Otherwise why not post under your own name?

Now you are acting like a troll, so i will just end this conversation right here.

The troll is you, who is trying to impersonate a member of this forum, while claiming that you arn't trying to hide your identity. If you have something to say, say it under your own identity. Your reluctance to do so, and your choice of a name nearly identical to mine makes EVERYTHING you say appear to be dishonest.

alyssa850

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Quote from: alyssa85 on January 13, 2017, 01:54:57 PM

Quote from: alyssa850 on January 13, 2017, 01:29:02 PM

Instead of seeing you spreading indefensible and irresponsible fuds & making basic errors around i came forward pick this account name to burst your fuds. you don't like it? then don't tell fuds.

In other words you are hiding your identity because you are a China shill. Otherwise why not post under your own name?

Now you are acting like a troll, so i will just end this conversation right here.

alyssa85

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Quote from: alyssa850 on January 13, 2017, 01:29:02 PM

Instead of seeing you spreading indefensible and irresponsible fuds & making basic errors around i came forward pick this account name to burst your fuds. you don't like it? then don't tell fuds.

In other words you are hiding your identity because you are a China shill. Otherwise why not post under your own name?

alyssa850

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Activity: 4

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Quote from: alyssa85 on January 13, 2017, 12:34:05 PM

Quote from: alyssa850 on January 13, 2017, 12:13:32 PM

Quote from: alyssa85 on January 13, 2017, 11:56:49 AM

@alyssa850

Why have you chosen a name similar to mine (adding a 0 at the end)? if you are hoping to trick people that you are me, you are a sad person...

You have a noob account and appear to be a China shill, trying to hide your identity. Why don't you post under your real name?

Stop attacking people here just because they point out that you are a troll who is fuding around.
Why i am a China shill? I am not saying they are good but just telling the truth story instead of fuding like you do. i have no need to hide my identity while telling the truth.
You might just be an anger internet kid who has some mental issues of hating newbies.

I am pretending to be you? come on i quoted your bs fud publicly and corrected it clearly. who will mistake you(fudder) as me?

You set up your account today with a name nearly identical to mine (I have been here since 2013) . Why not post under your own name, my dear little china shill? And you ARE a shill, you are defending exchanges that are known for their fake volume, corrupt behaviour and manipulated markets.

I haven't said a word to depend okcoin/huobi/btcc, have i? they are very likely creating fake volume, insider trading / manipulating (including bifinex,kraken). That's why all those authorities are after their ass now.

But it doesn't change the fact that they have relatively cheap if not the cheapest fee in the exchanger market, not to mention "huge". it doesn't cost you a vpn to trade in there. it doesn't cover the fact that they are the one who pumps bitcoin from the beginning.

Instead of seeing you spreading indefensible and irresponsible fuds & making basic errors around i came forward pick this account name to burst your fuds. you don't like it? then don't tell fuds.

alyssa85

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Quote from: alyssa850 on January 13, 2017, 12:13:32 PM

Quote from: alyssa85 on January 13, 2017, 11:56:49 AM

@alyssa850

Why have you chosen a name similar to mine (adding a 0 at the end)? if you are hoping to trick people that you are me, you are a sad person...

You have a noob account and appear to be a China shill, trying to hide your identity. Why don't you post under your real name?

Stop attacking people here just because they point out that you are a troll who is fuding around.
Why i am a China shill? I am not saying they are good but just telling the truth story instead of fuding like you do. i have no need to hide my identity while telling the truth.
You might just be an anger internet kid who has some mental issues of hating newbies.

I am pretending to be you? come on i quoted your bs fud publicly and corrected it clearly. who will mistake you(fudder) as me?

You set up your account today with a name nearly identical to mine (I have been here since 2013) . Why not post under your own name, my dear little china shill? And you ARE a shill, you are defending exchanges that are known for their fake volume, corrupt behaviour and manipulated markets.

alyssa850

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Quote from: alyssa85 on January 13, 2017, 11:56:49 AM

@alyssa850

Why have you chosen a name similar to mine (adding a 0 at the end)? if you are hoping to trick people that you are me, you are a sad person...

You have a noob account and appear to be a China shill, trying to hide your identity. Why don't you post under your real name?

Stop attacking people here just because they point out that you are a troll who is fuding around.
Why i am a China shill? I am not saying they are good but just telling the truth story instead of fuding like you do. i have no need to hide my identity while telling the truth.
You might just be an anger internet kid who has some mental issues of hating newbies.

I am pretending to be you? come on i quoted your bs fud publicly and corrected it clearly. who will mistake you(fudder) as me?

Idaho

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If the Chinese are using btc to cash out of China, or western whales are profiting in China and selling to Western exchanges, why is there no reciprocal volume on western exchanges?

alyssa85

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@alyssa850

Why have you chosen a name similar to mine (adding a 0 at the end)? if you are hoping to trick people that you are me, you are a sad person...

You have a noob account and appear to be a China shill, trying to hide your identity. Why don't you post under your real name?

alyssa850

newbie

Activity: 4

Merit: 0

Quote from: alyssa85 on January 13, 2017, 11:14:08 AM

Quote from: ed_teech on January 13, 2017, 11:00:27 AM

Quote

Chinese bitcoin exchanges charge zero trade fees

Many things come to mind.

1. Why aren't all traders trading there ? I imagine with zero trading fees bitfinex, ... have a hard time gathering volume.
2. Bots ? Aren't they dominating because of this ?

Huh

nonsense

Looks like you have no idea what you are talking about here. let me correct you:

~~western traders had to use VPNs to get past the Great Firewall~~
bs. You don't need a vpn to access anything in China unless your government ban that content in your country. try visit okcoin.cn and you see. if you mean you have to have an China IP to register & trade in Chinese exchangers then it's still dead wrong and you don't need so.

~~And the Chinese exchanges charged huge fees for withdrawing fiat~~
bs number 2. Huge fees? e.g. okcoin.cn charges 0.5% - 0.3% for withdraw CNY. deposit by bank wire on the other hand is free. Is this fee you consider as huge? this is even less than the fee per trade on almost every exchangers out there. i.e the fee for sell&buy on btc-e is 0.2%*2=0.4%, 0.25%*2=0.5% for bitstamp. say you buy and sell 10 btc, you got your money in hand after 10*(0.5%-0.3%) fee on okcoin/huobi. you might end up paying 10*times more fee on btc-e/bitstamp.

~~Which probably encouraged shorts to push the bitcoin price down~~
hs. who pumps bitcoin? Chinese pumps bitcoin. from the day 1.

Quote

so western whales could buy cheap bitcoin and then transfer their coins out to the western exchanges, where they could sell for dollars.

For now, Yes. it has been a long time that Chinese price are $20-$100 above USD/JPY/EUR/etc price. now we have the chance to trade the difference in gap vice versa.

We shall see of the PBOC crackdown changes anything...
Not only PBOC is currently on this matter, Police and financial regulator are also involved.

alyssa85

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Quote from: ed_teech on January 13, 2017, 11:00:27 AM

Quote

Chinese bitcoin exchanges charge zero trade fees

Many things come to mind.

1. Why aren't all traders trading there ? I imagine with zero trading fees bitfinex, ... have a hard time gathering volume.
2. Bots ? Aren't they dominating because of this ?

Huh

Lots of the whales were trading there. Especially as those exchanges also allowed crazy levels of margin trading (10x yoru stake and sometimes 50x the stake).

What put people off is that non-Chinese people weren't supposed to trade there, and western traders had to use VPNs to get past the Great Firewall. And the Chinese exchanges charged huge fees for withdrawing fiat. Which probably encouraged shorts to push the bitcoin price down, so western whales could buy cheap bitcoin and then transfer their coins out to the western exchanges, where they could sell for dollars.

We shall see of the PBOC crackdown changes anything...

ed_teech

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Jahaha

Quote

Chinese bitcoin exchanges charge zero trade fees

Many things come to mind.

1. Why aren't all traders trading there ? I imagine with zero trading fees bitfinex, ... have a hard time gathering volume.
2. Bots ? Aren't they dominating because of this ?

Huh

IIOII

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Quote from: alyssa85 on January 13, 2017, 10:42:01 AM

Something else to note: Chinese exchanges have halted margin trading. See

https://twitter.com/cnLedger/status/819808775032868865

Quote

ZE Jiang(http://BTC.TOP ): Huobi & BTCC stopped margin trading, OKc leverage only 1x, finally no more fake BTC generated by exchange

Lets see what this does to Chinese volume.

Yes, I'm very interested to know that, too. I'm pretty convinced that the vast amount of Chinese trading volume is (was) caused by a limited number of margin traders, because Chinese exchanges have no fees. The real demand for ordinary buying and selling of Bitcoin will be much lower.

Still Chinese pools control the vast amount of hash power. It would be good for decentralization, if this would change in future (maybe with new every-day mining devices like toasters or room heaters).

noormcs5

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Quote from: cellard on January 13, 2017, 10:28:47 AM

Quote from: alyssa85 on January 13, 2017, 10:09:09 AM

https://blockunchained.com/how-chinese-is-bitcoin-part-1-trade-volume-795ac3ed221b#.90a2ky9mj

Quote

In bitcoin, not all is as it first appears

Recently, one of my close friends asked me how Chinese bitcoin was, suggesting that over 90% of bitcoin is Chinese.

China’s role in the bitcoin industry is at the same time both widely discussed and deeply misunderstood. Reporting on the topic is mostly to blame.

This article is the first part of a series of posts that attempt to correct this misunderstanding. In the series I will be explaining why:

China’s trade volume is misleading
China’s dominance in bitcoin mining does not translate to control
Thinking in terms of nation states doesn’t work when it comes to bitcoin. This is legacy thinking.

I thoroughly recommend reading the whole article to get an insight into what exactly is going on in China.

Theres's nothing surprising about it. China is an huge country, and has the most mining hashing rate power on the planet, got a lot of people getting fucked by the terrible economic laws regarding inflation etc, so a lot of people is moving money through bitcoin. It's clear that when regulation happens price will probably dip.

Price always DIP once they go high in the short time interval. It has nothing to do with China controlling the bitcoin or Inflation etc. Its just natural phenomena. Soon we will see Bitcoin prices back on the high side.

alyssa85

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Something else to note: Chinese exchanges have halted margin trading. See

https://twitter.com/cnLedger/status/819808775032868865

Quote

ZE Jiang(http://BTC.TOP ): Huobi & BTCC stopped margin trading, OKc leverage only 1x, finally no more fake BTC generated by exchange

Lets see what this does to Chinese volume.

cellard

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Quote from: alyssa85 on January 13, 2017, 10:09:09 AM

https://blockunchained.com/how-chinese-is-bitcoin-part-1-trade-volume-795ac3ed221b#.90a2ky9mj

Quote

In bitcoin, not all is as it first appears

Recently, one of my close friends asked me how Chinese bitcoin was, suggesting that over 90% of bitcoin is Chinese.

China’s role in the bitcoin industry is at the same time both widely discussed and deeply misunderstood. Reporting on the topic is mostly to blame.

This article is the first part of a series of posts that attempt to correct this misunderstanding. In the series I will be explaining why:

China’s trade volume is misleading
China’s dominance in bitcoin mining does not translate to control
Thinking in terms of nation states doesn’t work when it comes to bitcoin. This is legacy thinking.

I thoroughly recommend reading the whole article to get an insight into what exactly is going on in China.

Theres's nothing surprising about it. China is an huge country, and has the most mining hashing rate power on the planet, got a lot of people getting fucked by the terrible economic laws regarding inflation etc, so a lot of people is moving money through bitcoin. It's clear that when regulation happens price will probably dip.

alyssa85

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Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

https://blockunchained.com/how-chinese-is-bitcoin-part-1-trade-volume-795ac3ed221b#.90a2ky9mj

Quote

In bitcoin, not all is as it first appears

Recently, one of my close friends asked me how Chinese bitcoin was, suggesting that over 90% of bitcoin is Chinese.

China’s role in the bitcoin industry is at the same time both widely discussed and deeply misunderstood. Reporting on the topic is mostly to blame.

This article is the first part of a series of posts that attempt to correct this misunderstanding. In the series I will be explaining why:

China’s trade volume is misleading
China’s dominance in bitcoin mining does not translate to control
Thinking in terms of nation states doesn’t work when it comes to bitcoin. This is legacy thinking.

I thoroughly recommend reading the whole article to get an insight into what exactly is going on in China.

Topic: How Chinese is Bitcoin? — Part 1: Trade Volume (Read 696 times)