That exchange has closed more than a month ago, and this is why the price is so down, because they are not updating the price and it is freezed at the previous price, more than a month ago i guess.
I dont know why this site is still online, it is a little bit weird because we dont know the real intention of them, maybe they want to scam a new guy, or maybe their website is really frozed, nobody knows.
I would not use that site to buy bitcoins, no matter what.
Topic: how is this comapny selling btc at 85% of its value (Read 394 times)
I don't speak Chinese, here's the link to their site.. if anyone could shed some light as to whats going on im sure it would be helpful to a lot of people here
https://www.huobi.com/
Thanks
https://www.huobi.com/
Thanks
Op must have been thinking of how to take advantage of the discounted amount on the exchange platform but unfortunately its not possible. Even if its not on that site, any other platform that display such high amount of discounted value, is a scam site that one needs to be weary no matter how they painted the site or the reputation it has garnered over the years.
What I expect HUOBI to have done is to put a statement on that website to show anyone visiting the current status of the site and its operation just like ViaBtc has done so that a clone phishing website will not use that as an avenue to scam unsuspecting individual looking for cheap coins across the internet.
China has stop all exchanges on 10/31. The price you saw are the last history price.
Some of the other chinese exchanges are still operating i think? is this because China has only shut down a few of the exchanges, and this is one of them?
No. Only P2P trading is currently available in mainland China until further notice from PBoC and the government is released. Give it 1-2 months from now and surely China will reconsider lifting the ban on cryptocurrency exchanges. There aren't any official sources about this but apparently the Chinese officials are notoriously known for their unsure stance about bitcoin.
Quote
They also don't want to miss getting those taxes from these exchanges knowing that a there's also a large market/volume coming from China.
Now they're going to have to contend with Japan and South Korea for the Asian market, stopping the wheel of motion of Bitcoin in China, is something they ought not have gone ahead to do, at any rate, Bitcoin is the winner and that's the most interesting part! 
Yep, since huobi has ceased operations they are displaying the price from when it was last online and operating. Obviously from that date to now, price of bitcoin has increased a lot since then. That's why you see such a discount compared to the price right now.
Obviously you can't really take advantage since the exchange is no longer operational.
Obviously you can't really take advantage since the exchange is no longer operational.
China has stop all exchanges on 10/31. The price you saw are the last history price.
Some of the other chinese exchanges are still operating i think? is this because China has only shut down a few of the exchanges, and this is one of them?
No. Only P2P trading is currently available in mainland China until further notice from PBoC and the government is released. Give it 1-2 months from now and surely China will reconsider lifting the ban on cryptocurrency exchanges. There aren't any official sources about this but apparently the Chinese officials are notoriously known for their unsure stance about bitcoin.
They also don't want to miss getting those taxes from these exchanges knowing that a there's also a large market/volume coming from China.
China has stop all exchanges on 10/31. The price you saw are the last history price.
Some of the other chinese exchanges are still operating i think? is this because China has only shut down a few of the exchanges, and this is one of them?
all CNY trading is down as of 10/31, no exceptions.
P2P OTC trading is not affected.
China has stop all exchanges on 10/31. The price you saw are the last history price.
Some of the other chinese exchanges are still operating i think? is this because China has only shut down a few of the exchanges, and this is one of them?
China has stop all exchanges on 10/31. The price you saw are the last history price.
I don't speak Chinese, here's the link to their site.. if anyone could shed some light as to whats going on im sure it would be helpful to a lot of people here
https://www.huobi.com/
Thanks
https://www.huobi.com/
Thanks
Jump to: